-- Posted 28 September, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $992.95 | +$2.60 |
Silver | $16.20 | +$0.16 |
XAU | 159.13 | +0.39% |
HUI | 398.09 | +0.10% |
GDM | 1185.61 | -0.07% |
JSE Gold | 2391.03 | +10.38 |
USD | 76.98 | +0.20 |
Euro | 146.04 | -0.88 |
Yen | 111.51 | -0.05 |
Oil | $66.84 | +$0.82 |
10-Year | 3.302% | -0.027 |
T-Bond | 121.4375 | +0.5625 |
Dow | 9789.36 | +1.28% |
Nasdaq | 2130.74 | +1.90% |
S&P | 1062.98 | +1.78% |
The Metals:
Gold and silver fell to see modest losses in Asia, but they both then steadily climbed back higher in London and New York and gold ended near its noontime high of $996.52 with a gain of 0.26% while silver ended near its high of $16.292 with a gain of 1.00%.
Euro gold rose to about €679, platinum lost $1.50 to $1276, and copper fell a couple of cents to about $2.71.
Gold and silver equities rose nearly 3% by midday, but they then fell back off for most of the rest of trade and ended mixed and near unchanged.
The Economy:
There were no major economic reports today. Tomorrow at 9AM EST brings the Case-Shiller Housing Price Index for July expected at -14.2% and Consumer Confidence for September expected at 57.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on continued geopolitical worries over Iran as they test fired a missile over the weekend.
The U.S. dollar index rose after ECB President Trichet commented over the weekend “that U.S. policy makers' commitment to a strong dollar was important in keeping currency markets and the global economy stable.”
Treasuries rose on the belief that inflation is under control.
The Dow, Nasdaq, and S&P rose on deal making announcements that raised confidence over the health of the economy.
Among the big names making news in the market today were Johnson & Johnson, Xerox and Affiliated Computer, and Gentek and American Securities.
The Commentary:
“Dear Friends,
I hear from so many of you. I am the focus of so many emails from you. My fax machine goes through more paper and toner than you could ever imagine.
Your fear, emotions and confusion communicate to me in more ways than you know.
The gold community had very little to do with gold recently crossing $1000. China stands right below this level in the cash market as a ready buyer.
The conditions moving the dollar are so very different from what was only a few months ago. Economic conditions are no longer improving which opens the possibility of a new acceleration on the downside.
You are fearful because of the proliferation of analysis concerning the massive short position of the commercial dealers in gold and silver. They do not have a 100% record of success.
You are fearful due to the proliferation of a flyer that you received in the mail saying that Elliot Wave calls for a decline in the price of gold and a rally will occur in the US dollar.
You are fearful because all media is unfriendly towards gold and friendly towards the dollar.
So many are asking for my help in an almost plaintive manner.
1. Gold will trade at $1224, $1650 and then on to Alf Field’s numbers.
2. The US dollar will go significantly lower for reasons reviewed this weekend here.
3. Companies that own and produce a commodity will benefit from the price of a commodity that is about to rise to historic prices regardless of the actions of present shorts. In this case the commodity is honest money – gold.
4. Do not carry one penny of margin on any silver or gold position. Volatility has only one way to go and that is up.
5. Stay totally away from trading futures.
6. I do not give short term trading instructions because this is not a tip sheet. This is a site dedicated to taking you through the sea of opposition to your self-protection.
Respectfully yours,”- Jim Sinclair, JSMineset.com
GATA Posts:
Fed chairman's 1975 memo explains need for gold price manipulation
Peter Brimelow: Gold price down, gold bugs up
Gold pirates wage a dirty, underground war
Dollar's reserve place not secure, World Bank president says
Yikes! On CNBC: 'When you own gold, you're fighting every central bank'
Liam Halligan: No reform, just a patch for a discredited regime
Zero Hedge: The CIA chimes in on gold control
Ambrose Evans-Pritchard: Huge monetizing still needed to avert debt deflation
The Statistics:
Activity from: 9/25/2009
Gold Warehouse Stocks: | 9,294,628 | -208 |
Silver Warehouse Stocks: | 114,982,410 | +220,052 |
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 | 1094.107 | 35,176,633 | US$34,875m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 131.93 | 422,679 | US$419m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.37 | 460,524 | US$457m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.42 | 1,588,842 | US$1,575m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,988 | US$5m |
Note: Change in Total Tonnes from yesterday’s data: The JSE added 0.73 tonnes.
COMEX Gold Trust (IAU)
Profile as of 9/25/2009 | |
Total Net Assets | $2,376,495,415 | Ounces of Gold
in Trust | 2,400,677.236 |
Shares Outstanding | 24,450,000 | Tonnes of Gold
in Trust | 74.67 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 9/25/2009 | |
Total Net Assets | $4,476,497,071 | Ounces of Silver
in Trust | 276,424,218.300 |
Shares Outstanding | 281,050,000 | Tonnes of Silver
in Trust | 8,597.75 |
Note: Change in Total Tonnes from yesterday’s data: 128.45 tonnes were added to the trust.
The Miners:
Newmont’s (NEM) output and Minco Silver’s (MSV.TO) feasibility study results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Nevsun | NSU +5.73% $2.03 |
2. ITH | THM +4.12% $4.04 |
3. International Royalty | ROY +4.05% $3.85 |
LOSERS
1. Solitario | XPL -9.47% $1.72 |
2. Paramount | PZG -6.43% $1.31 |
3. Gammon Gold | GRS -3.41% $7.64 |
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:
Copper Fox announces a $2,000,000 Private Placement Unit Offering. Insider commits to 55% participation in the Offering. - More
- September 28, 2009 | Item | E-mail
Peru mining federation plans nationwide walkout - "Peru's national federation of mine workers said on Monday it would hold a national walkout Oct. 19-20 to demand better benefits in a country that is one of the world's top minerals exporters." More
- September 28, 2009 | Item | E-mail
Colossus Minerals Inc. Appoints Randy Reichert as President & COO - More
- September 28, 2009 | Item | E-mail
OAK To Purchase 100% Interest in the Kerrs Gold Property from Sage - More
- September 28, 2009 | Item | E-mail
0.082% (1.6 lb/ton) Molybdenum, 12 g/tonne Silver & 0.16% Copper Over 2 Meters in Channel Sample Testing Mineralized Outcrop 2,150 Meters North of Former... - More
- September 28, 2009 | Item | E-mail
Kernow Resources & Developments Ltd.: News Release - More
- September 28, 2009 | Item | E-mail
Canadian Shield Closes Private Placement and Over Allotment Financing - More
- September 28, 2009 | Item | E-mail
Goldrea Resources Corp.: Underground Drifting at Golden Rose Encounters High Grade Gold - More
- September 28, 2009 | Item | E-mail
Mill Bay Ventures Inc.: Non-Brokered Private Placement of 15,000,000 Units - More
- September 28, 2009 | Item | E-mail
Simon Village appointed to Loncor Board - More
- September 28, 2009 | Item | E-mail
Indico Updates Corporate Developments - More
- September 28, 2009 | Item | E-mail
Claim Post Resources Signs Option Agreement With Osisko Mining Corporation - More
- September 28, 2009 | Item | E-mail
Globex Royalty: Tennessee Zinc Mine Reopening - More
- September 28, 2009 | Item | E-mail
Auger drilling program identifies new copper-gold anomaly and extends Gongondy target at the Gaoua project - More
- September 28, 2009 | Item | E-mail
Dia Bras Discovers New High-Grade Silver Veins at Cusi and Announces Plans to Expand Silver Production: 3,315 g/t Silver Over 2.45 Meters at Santa Eduwiges Mine - More
- September 28, 2009 | Item | E-mail
TVI Pacific Inc. Affiliate, TVI Resource Development (Phils.) Inc., Reduces Principal Owing Under Debt Facility by Ten Percent - More
- September 28, 2009 | Item | E-mail
Georox Resources Inc. signs Farmout Agreement - More
- September 28, 2009 | Item | E-mail
Romarco acquires Buzzard, other lands at Haile - More
- September 28, 2009 | Item | E-mail
Pacific Iron Ore Corporation High Announces High-Grade Gold Channel Sample Results and Plans to Begin Diamond Drilling on the St Anthony's Project - More
- September 28, 2009 | Item | E-mail
Animas Resources Announces Targets for Santa Gertrudis Drilling Program and M. Stephen Enders Joins the Advisory Board - More
- September 28, 2009 | Item | E-mail
Canaco Announces Preliminary Results From Magambazi Drilling - More
- September 28, 2009 | Item | E-mail
Rockcliff to Commence Unit Offering, Initiates Drill Program at Snow Lake Project, Prioritizes VTEM Targets near Lalor Deposit - More
- September 28, 2009 | Item | E-mail
Khan Sets Out Development Plan for Dornod Uranium Project in Mongolia - More
- September 28, 2009 | Item | E-mail
Mantra Mining Inc. Has Changed its Name to TintinaGold Resources Inc. New Symbol: TAU - More
- September 28, 2009 | Item | E-mail
Underworld Step-Out Holes Expand Golden Saddle Zone, Including 2.68 g/t Au Over 75.0 Meters - More
- September 28, 2009 | Item | E-mail
Argentex: Management summary of mineral resource estimate and highlights of Pinguino project developments - More
- September 28, 2009 | Item | E-mail
Norsemont Announces Positive Constancia Feasibility Study - More
- September 28, 2009 | Item | E-mail
AndeanGold Commences Phase 1 Drilling Program at the Rio Seco Project, Peru - More
- September 28, 2009 | Item | E-mail
Sultan Minerals Intersects 0.76% Tungsten (WO3) on Its Jersey Emerald Property, B.C. - More
- September 28, 2009 | Item | E-mail
Altius Reports Progress on Uranium Exploration Projects in Newfoundland and Labrador, Canada - More
- September 28, 2009 | Item | E-mail
American Sierra Gold Corp. Offers Update on Management Team - More
- September 28, 2009 | Item | E-mail
Moose Cree and Detour Gold Sign Memorandum of Understanding - More
- September 28, 2009 | Item | E-mail
Dynasty Pours First Gold - More
- September 28, 2009 | Item | E-mail
Spectacular Uranium Intersections Up to 1 Metre of 20.3% U3O8 on Crocodile Gold, Northern Territory, Australia Properties - More
- September 28, 2009 | Item | E-mail
Romios Announces Results of 2009 Drill Program at Trek & Newmont Lake Properties in British Columbia Widespread Copper-Gold Intersected in All Drill Holes - More
- September 28, 2009 | Item | E-mail
Mawson claim granted over historic resource at Nuottijarvi, Finland - More
- September 28, 2009 | Item | E-mail
PC Gold Discovers Large New Gold Zone at Pickle Crow; Hit in 8 Holes from Surface to 500 Metres Down-Plunge; Robust Widths and Grades - More
- September 28, 2009 | Item | E-mail
Osisko Signs Option Agreement With Claim Post Resources for the Mountjoy Gold Property - More
- September 28, 2009 | Item | E-mail
Results of the X-Cal Annual Meeting - More
- September 28, 2009 | Item | E-mail
Skygold Introduces Incoming Director - More
- September 28, 2009 | Item | E-mail
God's Lake Resources Inc. Announces Appointment of New Chief Financial Officer - More
- September 28, 2009 | Item | E-mail
Allana Resources Appoints Jason Wilkinson as Project Manager for Ethiopian Potash Project - More
- September 28, 2009 | Item | E-mail
Lara Exploration Ltd.: Independent Review and Technical Report Completed on the Sao Lourenco Tin Project - More
- September 28, 2009 | Item | E-mail
Bonanza Goldfields acquires Claim No. 4 to capitalize on large gold vein target in the BRB - More
- September 28, 2009 | Item | E-mail
Tiger Resources Limited Issues 2009 Annual Report - More
- September 28, 2009 | Item | E-mail
Chavez proposes Africa-South America mining firm - "Venezuela's President Hugo Chavez proposed on Sunday that South American and African nations unite to create a cross-continental mining corporation to keep control of their resources." More
- September 28, 2009 | Item | E-mail
Dia Bras and EXMIN Receive Final Approval for Arrangement - More
- September 28, 2009 | Item | E-mail
Sulliden Revises Treatment of Legal Fees in Annual and Q1 Financials - More
- September 28, 2009 | Item | E-mail
Quaterra Announces Exercise of 1.6 Million Non-Transferrable Common Purchase Warrants - More
- September 28, 2009 | Item | E-mail
Ventana Appoints Stephen Orr to Board of Directors - More
- September 28, 2009 | Item | E-mail
Opawica closes private placement and announces listing on the TSX.V - More
- September 28, 2009 | Item | E-mail
Loncor closes financing - More
- September 28, 2009 | Item | E-mail
Palladon Ventures Announces Completion of NI 43-101 Preliminary Economic Assessment for Portion of Iron Mountain Project, With US$766 Million Estimated Net - More
- September 28, 2009 | Item | E-mail
Grande Portage Resources Ltd. Invests in Quaterra Resources Inc. - More
- September 28, 2009 | Item | E-mail
Minco Silver Announces Positive Feasibility Study Results for Fuwan Silver Project - "Minco Silver Corporation (TSX:MSV - News) ("Minco Silver" the "Company") is pleased to announce the positive results of Feasibility Study (the "Study") for the Fuwan Silver project located in Southeast China. The Feasibility Study was completed and overseen by Wardrop Engineering Inc. of Vancouver, BC, Canada. Wardrop worked in conjunction with China Nerin Engineering Co. Ltd. ("NERIN") of Nanchang, China, Environmental Resource Management ("ERM") of Beijing, China and P&E Mining Consultants Inc. ("P&E") of Brampton, ON, Canada. All currencies listed are in US dollars, unless otherwise stated." More
- September 28, 2009 | Item | E-mail
Indonesia Newmont unit may miss 2009 output target - "Output at Newmont Mining Corp's (NEM.N) Indonesia unit may be up to 10 percent below its target after a rock fall at its mine, an official at the mining and energy ministry said on Monday." More
- September 28, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 28 September, 2009 | |
