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Gold Seeker Closing Report: Gold and Silver Start the Year Off Nicely Higher

By: Chris Mullen, Gold-Seeker.com


-- Posted 4 January, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1118.00

+$21.70

Silver

$17.43

+$0.59

XAU

174.02

+3.43%

HUI

444.82

+3.47%

GDM

1317.54

+3.48%

JSE Gold

2427.83

+17.51

USD

77.52

-0.36

Euro

144.11

+0.85

Yen

108.00

+0.38

Oil

$81.51

+$2.15

10-Year

3.841%

-0.002

T-Bond

115.09375

-0.28125

Dow

10583.96

+1.50%

Nasdaq

2308.42

+1.73%

S&P

1132.99

+1.60%

 
 

 

The Metals:

 

Gold rose as much as 2.5% to as high as $1123.75 by about 9:30AM EST in New York before it fell back off a bit into the close, but it still ended with a gain of 1.98%.  Silver followed a similar pattern and ended near its late morning high of $17.54 with a gain of 3.50%.

 

Euro gold rose to about €775, platinum gained $48 to $1511, and copper gained over 6 cents to a new 16 month high at about $3.39.

 

Gold and silver equities rose over 4% at the open before they fell back off a bit midmorning, but they still ended with over 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Construction Spending

Nov

-0.6%

-0.5%

-0.5%

ISM Index

Dec

55.9

54.3

53.6

 

Tomorrow at 10AM EST brings Factory Orders for November expected at 0.5% and Pending Home Sales for November expected at -2.0%.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil topped $81 on expectations for rising energy demand due to cold temperatures across most of the US.

 

The U.S. dollar index fell on the continued outlook for low interest rates in the US while strong economic data overseas suggested that other countries may start to raise interest rates ahead of the fed.

 

Treasuries ended slightly lower on mixed economic data that sent the Dow, Nasdaq, and S&P over 1.5% higher on the outlook for continued low interest rates.

 

Among the big names making news in the market today were Total, GM, Credit Suisse, Novartis, and Time Warner and Fox.

 

GATA Posts:

 

 

Buy oil with FX cash, China central bank official urges

Volcker advocated gold price suppression in 1973

Greenspan suggested gold price suppression in 1993

James Turk: The outlook for 2010

World Gold Council is either useless or complicit in gold suppression

James Turk: The Fed's sneaky new way of raising money

 

The Statistics:

Activity from: 12/31/2009

Gold Warehouse Stocks:

9,821,438

-

Silver Warehouse Stocks:

112,436,308

-9,702

 

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

1133.622

36,447,079

US$40,859m

London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse )

Gold Bullion Securities

124.17

3,990,633

US$4,467m

Australian Stock Exchange (ASX)

Gold Bullion Securities

15.20

486,529

US$547m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

53.02

1,704,691

US$1,882m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,983

US$6m

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.33

 

Silver Trust (SLV) Total Tonnes in Trust: 9,492.97

 

The Miners:

 

IAMGOLD’s (IAG) CEO resignation, Randgold’s (GOLD) director declarations, and Sabina’s (SBB.V) completed technical report were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Entree

EGI +17.36% $2.84

2.  Gold Reserve

GRZ +15.60% $1.26

3.  Richmont

RIC +12.53% $4.22

 

LOSERS

1.  Solitario

XPL -2.17% $2.25

2.  Alexco

AXU-2.13% $3.68

3.  Claude

CGR-0.85% $1.17

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:

Laurion Mineral Exploration Inc. Announces Extension of Warrants - More
- January 04, 2010 | Item | E-mail


Golden Peaks Resources Ltd. - News Release - More
- January 04, 2010 | Item | E-mail


AXMIN Update - More
- January 04, 2010 | Item | E-mail


Jasper Mining Corporation announces $1,000,000 private placement by the issuance of flow-through shares - More
- January 04, 2010 | Item | E-mail


Petaquilla Minerals Ltd.: Column Leach Testing Shows an Average of 81.47% Gold Recovery - More
- January 04, 2010 | Item | E-mail


Fancamp Exploration Ltd.: Option to Acquire Riviere Des Plantes Property - More
- January 04, 2010 | Item | E-mail


Medallion Closes $361,625 Flow-Through Private Placement Offering - More
- January 04, 2010 | Item | E-mail


Levon Closes $2.3 Million Brokered Private Placement - More
- January 04, 2010 | Item | E-mail


Greystar Resources Warrants to Expire January 7, 2010 - More
- January 04, 2010 | Item | E-mail


BCM Resources Corporation: Successful 2009 Exploration Programs at Lorne and Alder Molybdenum Properties - More
- January 04, 2010 | Item | E-mail


First Gold Completes Closing of Private Placement for $400,000 With MineralFields - More
- January 04, 2010 | Item | E-mail


Stans Energy Corp. Acquires an Exploration License for the Rare Earth Elements "Aktyuz Ore Field" - More
- January 04, 2010 | Item | E-mail


Grenville Subsidiaries Sign Community Agreement at Silveria Property, Terminates LOI - More
- January 04, 2010 | Item | E-mail


Merrex Closes Jubilee Zinc Sale and Acquires Control of Chrysos Capital and Its Niaouleni Gold Project - More
- January 04, 2010 | Item | E-mail


Skygold Announces Change of Company Name to Spanish Mountain Gold and Closes Financing - More
- January 04, 2010 | Item | E-mail


KWG Resources Inc. - $1.2 million received from warrant exercise - More
- January 04, 2010 | Item | E-mail


Romarco drills 33.5 meters of 4.3 g/t gold - Update on 2009 drilling program - More
- January 04, 2010 | Item | E-mail


Jourdan Resources Inc.: Closing of a $250,380 Private Placement - More
- January 04, 2010 | Item | E-mail


Cadan Appoints Chairman and Chief Operating Officer - More
- January 04, 2010 | Item | E-mail


GoldTrain Closes $330,000 Non-Brokered Private Placement of Flow-Through Units - More
- January 04, 2010 | Item | E-mail


Prophecy receives TSX Venture Exchange approval for the acquisition of the Lynn Lake Nickel Project in Manitoba; Private Placements closed totaling $2,264,699 - More
- January 04, 2010 | Item | E-mail


Tri-River reports 2009 exploration results at its Lianlong Poly-metallic Project, China - More
- January 04, 2010 | Item | E-mail


Solitaire Minerals Corp. and Ashburton Ventures Inc. Mobilize Drillers to the Chukuni Property in Red Lake, Ontario - More
- January 04, 2010 | Item | E-mail


Augusta Announces US$40M Debt Refinancing and Copper Concentrate Off-take Commitment - More
- January 04, 2010 | Item | E-mail


Century Mining Fully Funded and Reopens Lamaque Gold Project - More
- January 04, 2010 | Item | E-mail


Inmet Mining Announces the Appointment of David Beatty as Chairman of the Board and of Jochen Tilk as Director - More
- January 04, 2010 | Item | E-mail


Gentor Resources Inc. signs Letter of Intent to acquire APM Mining Ltd. and its significant copper potential in Oman - More
- January 04, 2010 | Item | E-mail


Ashburton Ventures Prepares to Drill the Red Lake Chukuni Property - More
- January 04, 2010 | Item | E-mail


Ian Watson Announces Purchase of Units of Skygold Ventures Ltd. - More
- January 04, 2010 | Item | E-mail


General Metals Releases Additional Favorable Drill Results Including 145 Feet Grading 0.020 Opt Au and 0.26 Opt Ag From Surface - More
- January 04, 2010 | Item | E-mail


Alexis Extends Offer Until January 15, 2010 - More
- January 04, 2010 | Item | E-mail


Golden Minerals Acquires Hochschild's Interest in El Quevar Project - More
- January 04, 2010 | Item | E-mail


Goldcorp Declares First Monthly Dividend Payment for 2010 - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) is pleased to declare its first monthly dividend payment for 2010 of $0.015 per share. Shareholders of record at the close of business on Thursday, January 14, 2010 will be entitled to receive payment of this dividend on Friday, January 22, 2010." More
- January 04, 2010 | Item | E-mail


Sabina Completes Technical Report on Hackett PEA - "Sabina Gold & Silver Corp. (TSX:SBB - News) announced today the completion technical report of the previously announced preliminary economic assessment ("PEA) on its Hackett River silver project. The detailed 43-101 technical report was filed on SEDAR on December 23, 2009 outlining the PEA completed by PEG Mining Consultants ("PEG"). A summary of the PEA had been previously announced on November 12, 2009." More
- January 04, 2010 | Item | E-mail


IAMGOLD CEO to Step Down Effective January 15, 2010 - "The Board of Directors and I have agreed it would be an appropriate time for me to step down as an executive of the Company. I am proud to have lead IAMGOLD through the transformation of a joint venture player to an established operating company with a number of exciting development projects with a solid financial position and management team." More
- January 04, 2010 | Item | E-mail


Randgold Resources - Director Declaration - "In accordance with Rule 9.6.14 of the UK Listing Rules, Randgold Resources confirms that Jon Walden, a non-executive director, has informed the company that he has accepted the position of the non-executive chairman of H.R. Owen plc with effect from 1 January 2010." More
- January 04, 2010 | Item | E-mail

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2009

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted 4 January, 2010 | |


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