-- Posted 27 August, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $945.75 | +$1.25 |
Silver | $14.21 | -$0.04 |
XAU | 147.80 | +1.88% |
HUI | 359.56 | +1.89% |
GDM | 1091.40 | +2.02% |
JSE Gold | 2295.60 | -13.88 |
USD | 78.06 | -0.56 |
Euro | 143.63 | +1.12 |
Yen | 106.95 | +0.85 |
Oil | $72.49 | +$1.06 |
10-Year | 3.462% | +0.024 |
T-Bond | 120.296875 | -0.515625 |
Dow | 9580.63 | +0.39% |
Nasdaq | 2027.73 | +0.16% |
S&P | 1030.98 | +0.28% |
The Metals:
Gold traded mixed in Asia before it rose to as high as $950.60 by a little after 8AM EST in London and then dropped to as low as $941.34 by about 10AM EST in New York, but it then rallied back higher into the close and ended with a gain of 0.13%. Silver followed a similar pattern and ended about halfway between its low of $14.05 and high of $14.36 with a loss of 0.33%.
Euro gold fell to about €663, platinum gained $2 to $1233, and copper remained at about $2.85.
Gold and silver equities fell over 2% by midmorning, but they then rallied back higher for the rest of trade and ended with about 2% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 8/22 | 570K | 565K | 580K |
GDP | Q2 | -1.0% | -1.5% | -1.0% |
GDP Deflator | Q2 | 0.0% | 0.2% | 0.2% |
Core PCE | Q2 | 2.0% | 2.0% | 2.0% |
Tomorrow at 8:30AM EST brings Personal Income for July expected at 0.1%, Personal Spending expected at 0.2%, and PCE Core expected at 0.1%. At 9:55 is Michigan Sentiment for August expected at 64.8.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil erased early losses and ended decently higher after stocks turned around midday on signs of strengthening demand.
The U.S. dollar index and treasuries reversed early gains and moved modestly lower after the Dow, Nasdaq, and S&P shook off an early morning risk aversion move and turned notable losses into decent gains on renewed optimism over the economy and the banking system.
Among the big names making news in the market today were AIG, Boeing, Toll, and GM.
The Commentary:
“December Gold closed up 1.5 at 947.3. This was 4.7 up from the low and 4 off the high.
December Silver finished down 0.037 at 14.251, 0.129 off the high and 0.171 up from the low.
The gold market at one point early on Thursday morning was as much as $16.5 dollars an ounce below the overnight highs. Apparently initial weakness in the equity markets and signs of a broad based commodity liquidation wave put the market under pressure. However, the scheduled US data was mostly better than expected and with a mid day recovery attempt in the US equity markets, the gold market at times showed impressive upside interest. In fact, by late in the session Thursday gold had managed a low to high recovery bounce of roughly $9 an ounce from the post report lows.
Like the gold market, the silver market saw noted downside action early in the trading session before managing a rather definitive turn around. From the US morning lows, nearby silver prices into the late afternoon action managed a bounce of roughly 22 cents. The recovery in the US stock market and the bounce in energy prices seemed to reverse the broadly based selling wave that seemed to dominate a host of physical commodities in the morning action.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Truth would destroy U.S. economic system, Fed warns
Peter Degraaf: Are the bullion banks losing their grip?
GATA's favorite people to speak at New Orleans conference
Dollar can't stay only reserve currency, French president says
The Statistics:
Activity from: 8/25/2009
Gold Warehouse Stocks: | 9,153,033 | - |
Silver Warehouse Stocks: | 116,385,159 | -27,995 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,061.83 | 34,138,942 | US$ 32,097m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 127.81 | 4,109,349 | US$ 3,900m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.80 | 442,078 | US$ 421m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.72 | 1,373,570 | US$ 1,292m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 8/26/2009 | |
Total Net Assets | $2,229,987,940 | Ounces of Gold
in Trust | 2,362,200.320 |
Shares Outstanding | 24,050,000 | Tonnes of Gold
in Trust | 73.47 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 8/26/2009 | |
Total Net Assets | $4,061,422,476 | Ounces of Silver
in Trust | 283,719,850.300 |
Shares Outstanding | 288,350,000 | Tonnes of Silver
in Trust | 8,824.67 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
Tanzanian Royalty’s (TRE) interest free advance, Gold Fields’ (GFI) terminated royalty, ITH’s (THM) drill results, and Impact’s (IPT.V) second quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Richmont | RIC+6.50% $2.8115 |
2. US GOLD | UXG +5.26% $3.00 |
3. Ivanhoe | IVN +5.11% $11.32 |
LOSERS
1. Exeter | XRA-3.28% $2.95 |
2. Solitario | XPL -2.51% $1.56 |
3. Nevsun | NSU-2.13% $1.84 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
All of today's gold and silver stock news:
Resolution to Extend Expiration Date of Warrants Passed at Pacific Rim Annual and Special General Meeting - More
- August 27, 2009 | Item | E-mail
Coppermoly Provides Vangold Update Announcing Sample Results - More
- August 27, 2009 | Item | E-mail
RJK Drills 7 Reconnaissance Holes at Dorion, Stakes Substantial Magnetic Feature - More
- August 27, 2009 | Item | E-mail
Tanzanian Royalty Chairman Provides Interest Free Advance - "Tanzanian Royalty Exploration Corporation Chairman and CEO, James E. Sinclair, has made available to the Corporation an interest free advance of C$600,000." More
- August 27, 2009 | Item | E-mail
Blackrock Resources Inc. Announces Proposed Name Change to Black Mountain Resources Inc. - More
- August 27, 2009 | Item | E-mail
Eagle Hill Increases Size of Announced Private Placement - More
- August 27, 2009 | Item | E-mail
Palladon Ventures Ltd.-Revocation of Cease Trade Order - More
- August 27, 2009 | Item | E-mail
Queenston and Newstrike Consolidate Claims Adjoining the Commodore Property in Kirkland Lake - More
- August 27, 2009 | Item | E-mail
RPT Retains MetaLeach as Consultant - More
- August 27, 2009 | Item | E-mail
Royal Gold Announces Fourth Quarter Dividend - "ROYAL GOLD, INC. (NASDAQ:RGLD - News)(TSX:RGL - News), a leading precious metals royalty company, today announced that its Board of Directors has declared its fourth quarter dividend of $0.08 per share of common stock. The dividend is payable on October 16, 2009 to shareholders of record at the close of business on October 2, 2009. The Company has paid dividends since 2000." More
- August 27, 2009 | Item | E-mail
Kent Receives Gnaweeda Gold Project Independent NI-43-101 Report - More
- August 27, 2009 | Item | E-mail
Lake Shore Gold and West Timmins Agree to Business Combination - More
- August 27, 2009 | Item | E-mail
Lake Victoria's Trenching and Gold Assays Extend Projected Mineralized Vein to Two Kilometers at Kinyambwiga Gold Project, Tanzania - More
- August 27, 2009 | Item | E-mail
Internationnal Patent: Patent Office Acknowledges the Inventiveness of Orbite's Process - More
- August 27, 2009 | Item | E-mail
Golden Predator Reports Initial Gold Intercepts From 2009 RC Drilling at Golden Ridge Project, NE California - More
- August 27, 2009 | Item | E-mail
Nevada Gold Holdings Inc. Announces Filing of Form 10-Q - More
- August 27, 2009 | Item | E-mail
Chariot Announces that Leading Independent Advisory Service Recommends Shareholders Vote "FOR" Chariot's Slate of Directors - More
- August 27, 2009 | Item | E-mail
Sulliden Announces New Additions to the Management Team - More
- August 27, 2009 | Item | E-mail
Eloro Acquires Claims Adjacent to Lithium One Inc.'s Cyr Lithium Discovery, in the James Bay Mining District of Northern Quebec - More
- August 27, 2009 | Item | E-mail
Glass Earth Gold Limited: Exploration Update and Financial Statements and Management's Discussion & Analysis for the 6 Months Ended 30 June 2009 - More
- August 27, 2009 | Item | E-mail
Galantas Cash Positive in Second Quarter 2009 - More
- August 27, 2009 | Item | E-mail
UC Resources Informs Spider and KWG of Completion of Expenditures to Earn 40% Interest in McFaulds Lake Property Package - More
- August 27, 2009 | Item | E-mail
Afri-Can Marine Minerals: Diamond Sampling Vessel Departs Cape Town - More
- August 27, 2009 | Item | E-mail
Bear Lake Gold Reports Proposed Class Action - More
- August 27, 2009 | Item | E-mail
Canadian Shield Appoints Keith Laskowski as President - More
- August 27, 2009 | Item | E-mail
Yellowjacket Mine Achieves Full Commercial Production, New Gold Zone Discovered - More
- August 27, 2009 | Item | E-mail
Continent Closes $6,000,000 Non-Brokered Private Placement - More
- August 27, 2009 | Item | E-mail
Northern Freegold Stakes Additional Ground in Dawson Range Mining Camp, Yukon - More
- August 27, 2009 | Item | E-mail
Chariot Responds to Comments From the Lundin Directors - More
- August 27, 2009 | Item | E-mail
Klondike Silver Corp. Discovers Western Extension of Lode Structure on Initial Underground Drilling of Silvana Mine - More
- August 27, 2009 | Item | E-mail
Iberian Minerals Reports Second Quarter 2009 Results - More
- August 27, 2009 | Item | E-mail
Quaterra Signs Earn-In Agreement With Freeport-McMoRan Exploration Corporation for Peg Leg Copper Project in Arizona - More
- August 27, 2009 | Item | E-mail
Heva Gold Project, Abitibi, Quebec : 91.2 g/t Au Grab Sample - More
- August 27, 2009 | Item | E-mail
East Asia Intersects 5.38 g/t Gold Over 20.3 Metres Including 9.25 g/t Gold Over 9 Metres in South Miwah Bluff Zone, and 64.4 Metres of 1.37 g/t Gold - More
- August 27, 2009 | Item | E-mail
Dana Resources Evaluating Several New Gold Prospects Situated Between Its Collota Gold Deposit and Barrick's Pierina Mine - More
- August 27, 2009 | Item | E-mail
Kivalliq Reports Highly Radioactive Intervals From First Seven Drill Holes at Lac Cinquante - More
- August 27, 2009 | Item | E-mail
Alexis Intersects 70.4 Grams Gold Over Two Metres in New Zone at Lac Pelletier Gold Project - More
- August 27, 2009 | Item | E-mail
PolyMet Files US$500 Million Universal Shelf Registration - More
- August 27, 2009 | Item | E-mail
EagleRidge Minerals-Fischot Island, St. Julien's, Copper Discovery With Up to 5.0% Copper in Surface Field Samples - More
- August 27, 2009 | Item | E-mail
Thundermin and Cornerstone Intersect Additional Copper and Zinc Mineralization at Little Deer - More
- August 27, 2009 | Item | E-mail
North American Palladium Signs Option Agreement With Midland Exploration for Laflamme Gold Property - More
- August 27, 2009 | Item | E-mail
Midland Exploration Signs Option Agreement With North American Palladium for the Laflamme Gold Property - More
- August 27, 2009 | Item | E-mail
Vantex Resources Ltd./Exploration on Galloway: 31.5 Meters at 0,750 g/t Au - More
- August 27, 2009 | Item | E-mail
Ventura Drills 11 Meters Assaying 4.1 gpt Gold and 324 gpt Silver at Inmaculada Project and Extends Angela Vein to Greater Than 1.1 km Strike Length - More
- August 27, 2009 | Item | E-mail
Colorado Goldfields Acquires California Mining Properties -- History of the Properties, 1.23 Million Ounces of Gold, Part 2 of 3 in a Series - More
- August 27, 2009 | Item | E-mail
EMX Update for Akarca, Elmali and Sisorta JV Properties in Turkey - More
- August 27, 2009 | Item | E-mail
IMPACT SILVER ANNOUNCES Q2 RESULTS; SILVER PRODUCTION UP 80%, OPERATING EARNINGS UP 151%, VERSUS Q2, 2008 - "IMPACT Silver Corp. ("IMPACT") is pleased to announce its financial and operational results for the quarter ended June 30, 2009 which include the results of the high grade, Royal Mines of Zacualpan District in Mexico. The second quarter continued the Company's trend of increasing production, revenue and cash flow while remaining profitable." More
- August 27, 2009 | Item | E-mail
AuEx Ventures, Inc.: Pequop South Gold Exploration Property Optioned - More
- August 27, 2009 | Item | E-mail
Northland Considers Strategic Opportunities for Swedish Gold and Base Metal Projects - More
- August 27, 2009 | Item | E-mail
Half Year Results to 30 June 2009 - More
- August 27, 2009 | Item | E-mail
Gold Fields Terminates Royalty Over St Ives - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that an Agreement has been executed in terms of which the royalty payable by Gold Fields' wholly owned Australian subsidiary, St Ives Gold Mining Company Pty Ltd (St Ives) to Morgan Stanley Bank's subsidiaries, (Royalty) has been terminated for a consideration of A$308 million." More
- August 27, 2009 | Item | E-mail
International Tower Hill Announces Latest 34 Drill Holes from Livengood Gold Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or "the Company") - (TSX-V:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the latest results from the Company's 2009 summer drilling program at its Livengood project, Alaska. These results continue to illustrate the significant expansion potential for higher grade mineralization, not only in the newly identified Sunshine Zone (51.8 metres @ 1.27 g/t gold), but also in the East Zone (25.9 metres @ 2.82 g/t gold), the Northwest Zone (12.2 metres @ 3.34 g/t gold) and the Core Zone (21.3 metres @ 6.28 g/t gold and 150.9 metres @ 1.56 g/t gold)." More
- August 27, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 27 August, 2009 | |
