-- Posted 28 August, 2009 | | Discuss This Article - Comments:
Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $957.45 | +$11.70 | +0.48% |
Silver | $14.78 | +$0.57 | +4.38% |
XAU | 150.49 | +1.82% | +2.12% |
HUI | 364.78 | +1.45% | +1.75% |
GDM | 1107.10 | +1.44% | +2.25% |
JSE Gold | 2348.53 | +52.93 | +0.49% |
USD | 78.30 | +0.24 | +0.24% |
Euro | 143.01 | -0.46 | -0.30% |
Yen | 106.81 | -0.11 | +0.75% |
Oil | $72.74 | +$0.25 | -1.56% |
10-Year | 3.451% | -0.011 | -2.95% |
Bond | 120.3125 | +0.015625 | +1.26% |
Dow | 9544.20 | -0.38% | +0.40% |
Nasdaq | 2028.77 | +0.05% | +0.39% |
S&P | 1028.93 | -0.20% | +0.27% |
The Metals:
Gold and silver steadily rose in Asia and London and accelerated their gains in early New York trade before they both fell back off a bit into the close, but gold still ended near its high of $959.60 with a gain of 1.24% while silver ended near its high of $14.86 with a gain of 4.01%.
Euro gold rose to about €667, platinum gained $7.50 to $1240.50, and copper gained over 7 cents to about $2.92.
Gold and silver equities rose over 2% at the open before they chopped back lower at times during the rest of trade, but they still ended with about 1.5% gains on the day.
The Economy:
Report | For | Reading | Expected | Previous |
Personal Income | July | 0.0% | 0.1% | -1.1% |
Personal Spending | July | 0.2% | 0.2% | 0.6% |
PCE Core | July | 0.1% | 0.1% | 0.2% |
Michigan Sentiment | Aug | 65.7 | 64.0 | 63.2 |
Next week’s economic highlights include Chicago PMI on Monday, Construction Spending and the ISM Index on Tuesday, ADP Employment, Productivity, Factory Orders, and FOMC Minutes on Wednesday, Initial Jobless Claims and ISM Services on Thursday, and August’s jobs data on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil found slight gains on continued hopes for improving energy demand.
The U.S. dollar index and treasuries rose while the Dow and S&P fell on a mild risk aversion trade heading into the weekend, but the Nasdaq was able to end with a slight gain on an improved outlook from Intel.
Among the big names making news in the market Friday were Dell, Tiffany, Goldman, and Intel.
The Commentary:
“December Gold closed up 11.5 at 958.8. This was 5.6 up from the low and 5.8 off the high.
December Silver finished up 0.564 at 14.815, 0.085 off the high and 0.14 up from the low.
The gold market forged a big range up move on Friday morning and seemed to manage the initial push up off an extension of macro economic optimism. However, the market saw its initial gains pared in the wake of disappointing economic readings from the US and a mid day profit taking setback in the US equity markets. While the Dollar showed some initial weakness, the Greenback managed to climb back into positive ground and that might also have contributed to the setback in gold from its morning highs.
The silver market seemed to outperform the gold market on Friday with silver prices at times up by as much as 64.5 cents on its highs. With general strength being seen in the rest of the metals markets during the session Friday there did appear to be a bit of spillover buying interest from outside markets. Surprisingly the silver bulls didn't seem to be discouraged by slack US economic readings, two sided action in the equity markets or a minor recovery in the US Dollar.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Paul's Fed audit legislation may get action in House
Antal Fekete: Gold is pale because so many thieves plot against it
Rep. Ron Paul to address New Orleans Investment Conference
And they sneer at gold for not paying interest
The Statistics:
Activity from: 8/27/2009
Gold Warehouse Stocks: | 9,171,364 | -129 |
Silver Warehouse Stocks: | 116,434,003 | +59,307 |
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$ 32,182m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 127.81 | 4,109,303 | US$ 3,928m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.80 | 442,074 | US$ 424m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.72 | 1,373,560 | US$ 1,295m |
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 8/27/2009 | |
Total Net Assets | $2,232,798,142 | 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 8/27/2009 | |
Total Net Assets | $3,989,609,534 | Ounces of Silver
in Trust | 281,064,151.900 |
Shares Outstanding | 285,650,000 | Tonnes of Silver
in Trust | 8,742.07 |
Note: Change in Total Tonnes from yesterday’s data: 82.6 tonnes were removed from the trust.
The Miners:
There were no big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Jaguar | JAG +7.46% $9.80 |
2. Tanzanian Royalty | TRE +4.86% $3.02 |
3. NovaGold | NG +4.83% $3.91 |
LOSERS
1. Nevsun | NSU-4.89% $1.75 |
2. Aurizon | AZK -3.47% $4.45 |
3. US Gold | UXG-2.68% $2.90 |
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:
AXMIN Second Quarter 2009 Update - More
- August 28, 2009 | Item | E-mail
Valterra Options Swift Katie Project for $3 Million Exploration Program - More
- August 28, 2009 | Item | E-mail
Trelawney Closes Private Placement - More
- August 28, 2009 | Item | E-mail
Golden Band Resources Inc. Proposes Amendments to Share Purchase Warrants - More
- August 28, 2009 | Item | E-mail
Duran Completes $1,000,000 Financing - More
- August 28, 2009 | Item | E-mail
Forsys Metals Corp.: Termination of GFI Agreement Update - More
- August 28, 2009 | Item | E-mail
Gold Resource Corporation Sets Large Grinding Ball Mill - More
- August 28, 2009 | Item | E-mail
Champion Minerals Increases Financing - More
- August 28, 2009 | Item | E-mail
Blue Note's Shares to Begin Trading on TSX-V; Consolidation to take Effect - More
- August 28, 2009 | Item | E-mail
First Quantum Minerals Provides Update on the Kolwezi Mining Contract Revisitation - More
- August 28, 2009 | Item | E-mail
Gryphon Gold Corporation: Positive Pre-Feasibility Study Filed for Borealis Oxide Project in Nevada - More
- August 28, 2009 | Item | E-mail
Fieldex announces high grade rare earth elements on Lac Sairs property - More
- August 28, 2009 | Item | E-mail
Macarthur Minerals Completes Acquisition of Interest in Lake Giles Project From LPD Holdings (Aust) Pty Ltd. - More
- August 28, 2009 | Item | E-mail
Cyr-Lithium-2 Showing on the Komo Property : Arianne Resources - More
- August 28, 2009 | Item | E-mail
Ceres Announces Its Financial & Operating Results for the Second Quarter Ended June 30, 2009 - More
- August 28, 2009 | Item | E-mail
Silverado Completes Payment of Annual Federal Mineral Claim Rentals and Royalties - More
- August 28, 2009 | Item | E-mail
Dia Bras Releases Second Quarter 2009 Results - More
- August 28, 2009 | Item | E-mail
Dana Resources Evaluating Joint Venture Opportunities on Base Metals Assets - More
- August 28, 2009 | Item | E-mail
Aurelio Reports Expiration of Series B Warrants - More
- August 28, 2009 | Item | E-mail
Galway Resources Board of Directors approves adoption of Shareholder Rights Plan - More
- August 28, 2009 | Item | E-mail
DOT Resources Ltd.: Board Approves Application to Extend the Share Purchase Warrants - More
- August 28, 2009 | Item | E-mail
Geo Minerals Acquires Two Additional Copper Porphyry Prospects in Arizona - More
- August 28, 2009 | Item | E-mail
Minera IRL Limited: Interim Results for the Six Month Period Ended 30 June 2009 - More
- August 28, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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© Gold Seeker 2009
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-- Posted 28 August, 2009 | | Discuss This Article - Comments:
