-- Posted 25 November, 2009 | | Source: SilverSeek.com
Please Note: U.S. Markets are closed tomorrow in observance of Thanksgiving Day. On Friday the stock market will be open for a half day, but the Gold Seeker Report will not return until Monday. COT reports are also delayed until Monday.
| Close | Gain/Loss |
Gold | $1186.20 | +$20.00 |
Silver | $18.75 | +$0.32 |
XAU | 190.80 | +2.70% |
HUI | 491.88 | +2.80% |
GDM | 1456.61 | +2.93% |
JSE Gold | 2635.46 | +27.52 |
USD | 74.23 | -0.89 |
Euro | 151.42 | +1.74 |
Yen | 114.52 | +1.55 |
Oil | $77.96 | +$1.94 |
10-Year | 3.279% | -0.038 |
Bond | 122.1875 | +0.65625 |
Dow | 10464.40 | +0.29% |
Nasdaq | 2176.05 | +0.32% |
S&P | 1110.63 | +0.45% |
The Metals:
Gold steadily rose throughout most of world trade and ended near its high of $1187.25 with a gain of 1.71% at a new record high. Silver climbed to as high as $18.75 in late Asian trade before it fell back to $18.545 by midmorning in New York, but it then rallied back higher in the last few hours of trade and ended right back at that earlier high with a gain of 1.74%. Both metals have also risen to new highs in after hours access trade at the time of writing.
Euro gold rose to about €786, platinum gained $27.50 to $1466.50, and copper gained over 5 cents to almost $3.17.
Gold and silver equities steadily rose throughout trade and ended with almost 3% gains.
IMF sells 10 tonnes of gold to Sri Lanka Yahoo
US Mint to suspend American Eagle gold 1-oz coins Reuters
The Economy:
Report | For | Reading | Expected | Previous |
Personal Income | Oct | 0.2% | 0.1% | 0.2% |
Personal Spending | Oct | 0.7% | 0.5% | -0.6% |
PCE Prices | Oct | 0.2% | 0.1% | -0.6% |
PCE Prices - Core | Oct | 0.2% | 0.1% | 0.1% |
Initial Claims | 11/21 | 466K | 500K | 501K |
Durable Orders | Oct | -0.6% | 0.5% | 2.0% |
Durable Orders ex Trans. | Oct | -1.3% | 0.6% | 1.8% |
Michigan Sentiment | Nov | 67.4 | 67.0 | 66.0 |
New Home Sales | Oct | 430K | 404K | 405K |
Rates on 30-year mortgages sink, match record low Yahoo
All of this week’s other economic reports:
Next week’s economic highlights include Chicago PMI on Monday, Construction Spending, the ISM Index, and Pending Home Sales on Tuesday, ADP Employment and the fed’s Beige Book on Wednesday, Initial Jobless Claims, Productivity, the Employment Cost Index, and ISM Services on Thursday, and November’s jobs data and Factory Orders on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose almost $2 after crude inventories built a smaller than expected 1.0 million barrels and gasoline inventories rose 1 million barrels.
The U.S. dollar index plummeted under the 75 level to a new 15-month low on the continued outlook for exceptionally low interest rates for an extended period of time.
Treasuries reversed early losses and turned higher after today’s 7-year note auction saw a high yield of just 2.835% with a strong bid to cover of 2.76.
The Dow, Nasdaq, and S&P traded mostly slightly higher on generally better than expected economic data.
Among the big names making news in the market Friday were Deere, Tiffany, and Reader’s Digest.
The Commentary:
“Most of the volume in the last few days have been spread and switch related...as everyone switches their futures contracts around in front of first day notice on Monday. Last day of trading for the December contract is on Friday...so it could be a wild ride for the next couple of days as far as open interest and volume data is concerned.
The CME had no delivery data worth noting yesterday... but over at the GLD and SLV ETFs, there was a lot of activity. GLD reported a small increase of 29,410 ounces... but, once again, the real news was over in the SLV ETF where they took in another monstrous pile of silver... this time it was 4,371,724 ounces. One wonders how much more silver is still owed SLV... as 20.5 million ounces have been added since October 13th. It's at least reassuring to see that the managers of the SLV are finally covering their short positions, as it's now obvious to all except the extremely pig-headed that this, in fact, was exactly what was happening... they were shorting the shares many months ago because they couldn't get the physical silver.
The U.S. Mint also had an update yesterday. They reported another 15,500 gold eagles, 276,500 silver eagles and 6,000 24K gold buffaloes sold. To date this month, they've sold 122,000 gold eagles and 2,586,500 silver eagles... along with 40,500 24K gold buffaloes. Over at the Comex-approved warehouses... a very small 12,152 ounces of silver were reported withdrawn.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
“Dear CIGAs,
COT loses when it takes on governments.
COT loses badly when it takes on persistent governments.
COT gets creamed when the US dollar trades below .7400 and persistent government are persistent.
COT expires when delivery problems occur on any futures exchange, the dollar trades under .7400 and persistent government persist.
COT does the death rattle when COT takes on persistent governments that do persist, the dollar trades under .7400, delivery problems occur on any futures exchange and there is a run on the bank of ETFs who "own" more gold than anyone could have bought in the physical market, straining ones imagination enough to read the prospectus.
Junior precious metals shares and junior producers do their 1980 thing when the run on ETFs takes place.
Then Christmas comes?”- Jim Sinclair, JSMineset.com
GATA Posts:
Russian central bank wants more Canadian, fewer U.S. dollars
Sri Lanka buys 10 tonnes of IMF gold
Up $800 million on its IMF gold, India may buy the rest
Bank of England pension fund moves into inflation-protected bonds
Miners say they're running out of gold
Mint said to have double-counted gold, underestimated 'shrinkage'
Royal Mint's gold 'wasn't stolen' -- maybe secretly leased?
James Saft: Push for auditing Fed aids gold rally
Peter Grandich: Gold is rising on more than dollar weakness
FDIC insurance fund falls into red
Half of bank losses likely still hidden, IMF chief says
Infinite government money, bestowed with perfect secrecy
An interview with James Turk: Gold isn't an investment but money itself
The Statistics:
Activity from: 11/24/2009
Gold Warehouse Stocks: | 9,621,452 | -3,799 |
Silver Warehouse Stocks: | 111,530,128 | -363,467 |
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 | 1122.371 | 36,085,360 | US$42,560m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 129.89 | 4,174,595 | US$4,954m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.78 | 473,236 | US$564m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 53.53 | 1,721,062 | US$2,002m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,985 | US$6m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 80.72 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,252.02: +135.98 change from yesterday’s data.
The Miners:
Eldorado’s (EGO) exploration update and Silver Standard’s (SSRI) sale of ABCP notes were the only big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Kimber | KBX +19.62% $1.28 |
2. Mines MGMT | MGN+14.44% $3.09 |
3. Timberline | TLR +12.82% $1.32 |
LOSER
1. DRDGOLD | DROOY-1.69% $5.25 |
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:
Castle Gold Reports Third Quarter 2009 Operating and Financial Results - More
- November 25, 2009 | Item | E-mail
Cangold Announces $450,000 Financing - More
- November 25, 2009 | Item | E-mail
Brazauro Grants Stock Options - More
- November 25, 2009 | Item | E-mail
ATW Gold Corp. Announces the Engagement of Haywood Securities to Advise on Strategic Alternatives - More
- November 25, 2009 | Item | E-mail
Stans Energy Corp. Announces an Increase of the Previously Announced Non Brokered Private Placement Offering - More
- November 25, 2009 | Item | E-mail
Coro Initiates Drilling Program at Chacay Property - More
- November 25, 2009 | Item | E-mail
Western Copper Receives Robert E. Leckie Award for Outstanding Mining Reclamation Practices - More
- November 25, 2009 | Item | E-mail
Lincoln Mining purchases 100% of La Bufa - More
- November 25, 2009 | Item | E-mail
Vena Announces Drill Program at Esquilache Gold/Silver/Copper Property, Puno-Peru - More
- November 25, 2009 | Item | E-mail
Eldorado Gold Corporation: Tanjianshan 323 Zone Exploration Update - "Paul N. Wright, President & Chief Executive Officer of Eldorado Gold Corporation ("Eldorado" the "Company" or "we") (TSX:ELD - News)(NYSE:EGO - News) is pleased to announce results of ongoing drilling of our newly discovered zone of gold mineralization ("323 zone") at the Tanjianshan Mine in China. The new diamond drilling has confirmed results of the discovery reverse circulation drill holes, previously announced in a news release dated August 12, 2009, and has established continuity of the mineralized zone over a minimum strike length of 300 meters ("m") (see Figure)." More
- November 25, 2009 | Item | E-mail
Acadian Mining repays term loan - More
- November 25, 2009 | Item | E-mail
Golden Phoenix Minerals Launches Geologic Field Survey to Identify Potential Gold and Molybdenum Drill Targets Within Its Duff Claim Block in Pine Forest Range - More
- November 25, 2009 | Item | E-mail
Miners: We're running out of gold - "Gold production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners." More
- November 25, 2009 | Item | E-mail
Colossus Minerals Inc.'s Final Reminder to Holders of Unexercised $2.70 Common Share Purchase Warrants - More
- November 25, 2009 | Item | E-mail
Calibre Mining Arranges C$1,150,000 Private Placement - More
- November 25, 2009 | Item | E-mail
Richmond Minerals Inc. announces closing of non-brokered private placement - More
- November 25, 2009 | Item | E-mail
Wits Gold Files Interim Financial Statements - More
- November 25, 2009 | Item | E-mail
Central Announces Management Changes and Engages Caliber Capital Partners - More
- November 25, 2009 | Item | E-mail
Royal Roads receives $2,622,178.98 in full repayment of term loan - More
- November 25, 2009 | Item | E-mail
Mercator Gains Uranium Sector Exposure - More
- November 25, 2009 | Item | E-mail
SIRIOS Resources Inc. and Dios Exploration Inc./PONTAX-LITHIUM: Up to 0,97% Li2O Over 21 M Intersected by Diamond Drilling - More
- November 25, 2009 | Item | E-mail
Uracan discovers 12 meters of 0.123% U3O8 on its 100% owned Costebelle claims - More
- November 25, 2009 | Item | E-mail
BCGold Corp. Announces Board Changes - More
- November 25, 2009 | Item | E-mail
Li3 Energy Announces Signing of a Letter of Intent to Acquire Next Lithium Corp. - More
- November 25, 2009 | Item | E-mail
Fortress Reports Drilling Underway at the Limonite Project, Far East Russia - More
- November 25, 2009 | Item | E-mail
Drilling Starts at Capella's Lajitas Gold Project in Chile - More
- November 25, 2009 | Item | E-mail
Olympus Expands Production - More
- November 25, 2009 | Item | E-mail
Hinterland Acquires Windy Fork REE Property in Alaska - More
- November 25, 2009 | Item | E-mail
Magma Metals Limited: Scoping Study (Preliminary Economic Assessment) Commences on Thunder Bay North Project - More
- November 25, 2009 | Item | E-mail
Golden Share Provides its First 43-101 Resource Estimate on Forsan - More
- November 25, 2009 | Item | E-mail
Crown Minerals Options Additional Patented Gold Exploration Claims in Timmins District - More
- November 25, 2009 | Item | E-mail
Talon identifies seven potash intersections within its Sergipe Project in Brazil - More
- November 25, 2009 | Item | E-mail
Network outlines Phase II drill program at Caldera - More
- November 25, 2009 | Item | E-mail
Tribute Minerals Announces Assay Results - More
- November 25, 2009 | Item | E-mail
Crocodile Gold Intersects High Grades and New Thick Zone at Tom's Gully Up to 27.24 g/t Gold Over 1.8m and 6.9 g/t Gold Over 13.2m - More
- November 25, 2009 | Item | E-mail
NGEx Signs Definitive Agreement With Goldgroup Resources on Caballo Blanco Project, Mexico - More
- November 25, 2009 | Item | E-mail
Alturas Signs LOI for La Corina Copper-Gold Project in Northern Chile - More
- November 25, 2009 | Item | E-mail
First Gold Closes a $900,000 Financing - More
- November 25, 2009 | Item | E-mail
Jien Canada Takes Up Shares and Debentures of Canadian Royalties - More
- November 25, 2009 | Item | E-mail
X-Cal Resources Ltd.: Preliminary Economic Assessment Filed to SEDAR - More
- November 25, 2009 | Item | E-mail
Rockcliff to Commence Unit Offerings - More
- November 25, 2009 | Item | E-mail
Riverside Resources Appoints Vice President of Exploration - More
- November 25, 2009 | Item | E-mail
Highly Favourable Metallurgical Test Results From Kipoi Copper Project - More
- November 25, 2009 | Item | E-mail
San Gold Corp. Joins OTCQX - More
- November 25, 2009 | Item | E-mail
Stellar Pacific Ventures Inc. Acquires GoldenFrank Resources Inc. - More
- November 25, 2009 | Item | E-mail
Paladin Energy Ltd: Voting Results at AGM - More
- November 25, 2009 | Item | E-mail
Kalimantan Gold Plans Private Placement - More
- November 25, 2009 | Item | E-mail
Silver Standard Resources Inc.: Sale of Canadian ABCP Notes - "Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) reports the sale of its MAV II Class A-1 and A-2 Notes received following the restructuring of the Canadian asset-backed commercial paper market for cash proceeds of CAD$21.2 million." More
- November 25, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 25 November, 2009 | |
