-- Posted 15 January, 2010 | | Source: SilverSeek.com
Please Note: US markets are closed on Monday in observance of Martin Luther King, Jr, Day. The Gold Seeker Report will return on Tuesday.
| Close | Gain/Loss | On Week |
Gold | $1129.90 | -$13.50 | -0.72% |
Silver | $18.39 | -$0.27 | -0.11% |
XAU | 172.78 | -2.05% | -4.93% |
HUI | 438.72 | -2.25% | -5.16% |
GDM | 1309.45 | -2.19% | -4.75% |
JSE Gold | 2390.38 | -62.53 | -4.92% |
USD | 77.22 | +0.46 | -0.31% |
Euro | 143.81 | -1.17 | -0.24% |
Yen | 110.12 | +0.48 | +2.07% |
Oil | $78.00 | -$1.39 | -5.74% |
10-Year | 3.676% | -0.058 | -3.47% |
Bond | 117.375 | +0.59375 | +1.65% |
Dow | 10609.65 | -0.94% | -0.08% |
Nasdaq | 2287.99 | -1.24% | -1.26% |
S&P | 1136.03 | -1.08% | -0.78% |
The Metals:
Gold fell as much as $16.85 to $1126.55 by a little after 10AM EST in New York before it bounced back higher into the close, but it still ended with a loss of 1.18%. Silver followed a similar pattern and ended near its session low of $18.367 with a loss of 1.45%.
Euro gold fell to about €786, platinum lost $15 to $1592, and copper fell a couple of cents to about $3.36.
Gold and silver equities fell over 2% in the first half hour of trade and remained at about that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | Dec | 0.1% | 0.2% | 0.4% |
Core CPI | Dec | 0.1% | 0.1% | 0.0% |
Empire Manufacturing | Jan | 15.92 | 12.00 | 4.50 |
Capacity Utilization | Dec | 72.0% | 71.8% | 71.5% |
Industrial Production | Dec | 0.6% | 0.6% | 0.6% |
Michigan Sentiment | Jan | 72.8 | 74.0 | 72.5 |
Obama Unveils Proposal on Bank Taxes WSJ
US consumer sentiment holds steady early Jan-survey Reuters
Manufacturing in New York Fed Region Accelerated BusinessWeek
Inflation tame in 2009, but consumers are squeezed Yahoo
Industrial production rises in December Yahoo
All of this week’s other economic reports:
Next week’s economic highlights include TIC Flows on Tuesday, Building Permits, Housing Starts, and PPI on Wednesday, and Initial Jobless Claims, Leading Economic Indicators, and the Philadelphia Fed on Thursday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on lackluster energy demand due to continued warm weather.
The U.S. dollar index and treasuries rose as the Dow, Nasdaq, and S&P fell about 1% on poor economic data and worries over the banks after JPMorgan posted disappointing results. Obama’s “bank tax” also increased concerns over the health and profitability of the nation’s financial institutions.
Among the big names making news in the market Friday were JPMorgan, Lehman Brothers, Intel, and Johnson & Johnson.
The Commentary:
“Even though volumes has been huge... the gold price hasn't done much of anything for the last couple of days... ending the New York trading sessions within a few dollars of $1,140 spot. As I mentioned yesterday, I don't have any clear feelings one way or another about which way the price is going to go from here. If it went up big, I'd have one story... and if it went down big, I'd have an equally convincing story to justify why that was the case.
The CFTC meeting yesterday was interesting... with an early March meeting scheduled to discuss position limits for gold and silver. In actual fact, gold's position limits are perfectly OK... the problem is that the CFTC doesn't enforce these limits... with JPMorgan and HSBC being the two principal lawbreakers. In the silver market, it's virtually JPMorgan all by itself... and position limits that exist are so ridiculously high [and even those limits are not enforced] as to render them completely meaningless. The other problem in both metals is the ridiculous trading exemptions that the CFTC has allowed. So now we have to wait for another couple of months to see if the CFTC is going to do anything meaningful... or will it all be smoke, mirrors and posturing in order to save the big short... JPMorgan? If the CFTC is really serious, the price action over the next month or so could be interesting.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
GATA Posts:
Murray Pollitt's January market letter
Big mystery buyer for Treasuries; are his initials B.B.?
Gold, silver markets seen as much harder target for CFTC
CFTC unveils oil and gas limits; deemed light touch
The Statistics:
Activity from: 1/14/2010
Gold Warehouse Stocks: | 9,846,262 | +3,600 |
Silver Warehouse Stocks: | 112,444,754 | +1,676,640 |
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 | 1113.750 | 35,808,187 | US$40,384m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 124.09 | 3,989,154 | US$4,512m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.37 | 491,772 | US$559m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 52.53 | 1,688,759 | US$1,922m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,983 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.134 tonnes and the JSE subtracted 0.48 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.30 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,339.19: -149.62 change from yesterday’s data.
The Miners:
Ivanhoe’s (IVN) comments on Dow Jones’ correction, Taseko’s (TGB) environmental assessment certificate, Paramount’s (PZG) exercise of warrants, Fronteer’s (FRG) drill results, Apogee’s (APE.V) drilling contract, and SilverCrest’s (SVL.V) construction update were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Taseko | TGB +14.91% $5.01 |
2. Fronteer | FRG +11.49% $5.24 |
3. Minefinders | MFN+3.89% $11.74 |
LOSERS
1. Almaden | AAU -6.56% $1.14 |
2. Mines MGMT | MGN -5.90% $3.03 |
3. Kinross | KGC-4.97% $19.31 |
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:
Nemaska Exploration Confirms the Purchase of the Lac Levac and Lac Des Montagnes Properties From Golden Goose Resources Inc. - More
- January 15, 2010 | Item | ShareThis
Gold Fields Exercises Right of First Refusal on Woodjam South, BC - More
- January 15, 2010 | Item | ShareThis
Fjordland Exploration Inc.: Gold Fields Exercises Right of First Refusal on Woodjam South, BC - More
- January 15, 2010 | Item | ShareThis
X-Ore Shareholders Approve the Amalgamation of X-Ore with Blue Note Mining - More
- January 15, 2010 | Item | ShareThis
Kirkland Lake Gold Inc.: Final Tranche of Shares Issued & Cash Payment Made Under South Claims Acquisition - More
- January 15, 2010 | Item | ShareThis
Guinness Exploration Expands Board of Directors - More
- January 15, 2010 | Item | ShareThis
Golden Goose closes sale of Lac Levac and Lac des Montagnes nickel properties to Nemaska - More
- January 15, 2010 | Item | ShareThis
Grenville Reports Preliminary Underground Sample Results Including 1.85 Meters With 235.2 g/t Silver, 10.94% Zinc, 8.59% Lead and 0.812 g/t Gold - More
- January 15, 2010 | Item | ShareThis
DIOS Drill Program on a Carbonatite Target for Rare Earths and Niobium to Start Next Week - More
- January 15, 2010 | Item | ShareThis
Champion Minerals to Start Major Drilling Campaign to Outline Iron Resources on the 25 km2 Mammoth Zone at Harvey-Tuttle Claim Block, Fermont Iron Property (Que - More
- January 15, 2010 | Item | ShareThis
GoldQuest Announces Closing of Acquisition of Spanish Lead-Zinc-Silver Project - More
- January 15, 2010 | Item | ShareThis
TNR Gold/International Lithium Option Fairservice Mining Leases Adjacent to Mavis Lake Project, Ont - More
- January 15, 2010 | Item | ShareThis
Excalibur Intersects 3.27 Meters of 240.8 g/t Ag, 0.2 g/t Au, 1.12% Cu & 2.19% Pb - More
- January 15, 2010 | Item | ShareThis
Advanced Explorations Engages Investor Relations Group - More
- January 15, 2010 | Item | ShareThis
USCorp Junior Gold and Silver Exploration Mining Company Updates Fiscal 2010 Management Team - More
- January 15, 2010 | Item | ShareThis
Baja Confirms Robust Economics at Boleo - More
- January 15, 2010 | Item | ShareThis
Ivanhoe Mines Ltd.: Dow Jones Corrects News Record on Robert Friedland - "I accept the unqualified correction published today by Dow Jones Newswires that helps to set straight the public record on my ownership of shares in Ivanhoe Mines Ltd.
The correction, headlined "Ivanhoe Investor Says Stake Isn't Up For Sale", acknowledges that earlier Dow Jones news reports had incorrectly stated that I was seeking to sell my 23% founder's stake in Ivanhoe Mines and also had incorrectly stated that my stake had been "shopped" to a Chinese sovereign-wealth fund." More
- January 15, 2010 | Item | ShareThis
First Uranium mistakenly named in union allegations - More
- January 15, 2010 | Item | ShareThis
Glen Eagle to Pursue Its Right to Arbitrate - More
- January 15, 2010 | Item | ShareThis
Goldcliff Resource Corporation: Step-Out Drilling at Panorama Ridge Extends Nordic Zone Gold Mineralization - More
- January 15, 2010 | Item | ShareThis
Crazy Horse to Acquire Philippine Copper Project - More
- January 15, 2010 | Item | ShareThis
Santa Fe Gold Raises $10 Million in Registered Direct Offering - More
- January 15, 2010 | Item | ShareThis
Medusa Mining Limited: Resignation of Chairman - More
- January 15, 2010 | Item | ShareThis
Randsburg Agrees to Sell 80% of Its Titan Project - More
- January 15, 2010 | Item | ShareThis
Kodiak Announces 4,000 Metre Drill Program at Milestone in the Beardmore-Geraldton Gold Camp - More
- January 15, 2010 | Item | ShareThis
Pinnacle Mines Ltd.: More Details on Silver Coin Economics - More
- January 15, 2010 | Item | ShareThis
Tara Minerals Provides Corporate Update - More
- January 15, 2010 | Item | ShareThis
Kodiak Appoints Darren Lindsay Vice President-Exploration - More
- January 15, 2010 | Item | ShareThis
Medoro commences drilling at Zona Alta - Marmato, Colombia - More
- January 15, 2010 | Item | ShareThis
Amarc Closes $5.5 Million Financing - More
- January 15, 2010 | Item | ShareThis
Pacific North West Capital Corp. Intersects High Grade Gold up to 33.57 g/t (0.98 ounces/ton) at Destiny Gold Project, Quebec - More
- January 15, 2010 | Item | ShareThis
Sultan Minerals Discovers Potential for Large Extensions to the HB & Garnet Zinc Mines at Its Jersey-Emerald Property, BC - More
- January 15, 2010 | Item | ShareThis
Alto Ventures Intersects High Grade Gold up to 33.57 g/t (0.98 ounces/ton) at the Destiny Gold Project, Quebec - More
- January 15, 2010 | Item | ShareThis
Orvana Provides Update on Activities Relating to El Valle-Boinas/Carles - More
- January 15, 2010 | Item | ShareThis
Condor to Fast-Track Drill Program at Pucamayo - More
- January 15, 2010 | Item | ShareThis
Great Quest Nets $1,049,485 from Sale of Stock - More
- January 15, 2010 | Item | ShareThis
Constitution Mining Appoints New Director - More
- January 15, 2010 | Item | ShareThis
Beaufield Resources Inc.: 2500 Metres Drilling Starts at Tortigny - More
- January 15, 2010 | Item | ShareThis
Southern Arc to Host Investor Session on March 7, 2010 - More
- January 15, 2010 | Item | ShareThis
Oro Silver Intersects High Grade Mineralization; 19.95 g/t Gold and 166.3 g/t Silver Over 5.9 Metres at El Compas Project, Zacatecas, Mexico - More
- January 15, 2010 | Item | ShareThis
Virginia Energy Exercises Option to Take 100% Interest in Otish, Quebec Properties from Xemplar Energy Corp. - More
- January 15, 2010 | Item | ShareThis
Northair Prepares for Drill Program at La Cigarra Silver Project, Mexico - More
- January 15, 2010 | Item | ShareThis
Zincore Makes Progress on Strategic Plan With Acquisition of Additional Zinc-Lead Properties in Canada and Peru - More
- January 15, 2010 | Item | ShareThis
Anaconda Mining Announces Quarterly Operating Profit - More
- January 15, 2010 | Item | ShareThis
Red Back Production to Grow to 500,000 oz in 2010 - More
- January 15, 2010 | Item | ShareThis
Orosur Mining Inc. Directors Dealing - More
- January 15, 2010 | Item | ShareThis
Colombian Mines Reports Initial Sampling Results for the El Dovio Property - More
- January 15, 2010 | Item | ShareThis
AuEx Ventures, Inc.: New Stepout Hole at Long Canyon Reports 160 Feet @ 0.124 opt Gold - More
- January 15, 2010 | Item | ShareThis
Halo Intersects up to 4m of 3.8% Copper and 12.6% Zinc at Lost - More
- January 15, 2010 | Item | ShareThis
Novus Gold Corp.: Seven Kilometre Long Gold Zone Identified - More
- January 15, 2010 | Item | ShareThis
Terra Ventures Inc.: Seven Kilometre Long Gold Zone Identified - More
- January 15, 2010 | Item | ShareThis
Sacre-Coeur Minerals Engages Ardito Martohardjono as Refinery Manager at Million Mountain - More
- January 15, 2010 | Item | ShareThis
Taseko Receives Provincial Approval to Proceed with Prosperity - "Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") received the environmental assessment certificate for its proposed Prosperity Gold-Copper Project from the BC Provincial Ministry of Environment on January 14, 2010." More
- January 15, 2010 | Item | ShareThis
Apogee Awards Contract for Diamond Drilling at Pulcayo Deposit - "Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:APE - News) is pleased to announce that it has awarded a contract for diamond drilling at its Pulcayo Deposit in southern Bolivia to Compania de Sondeos Fujita ("Fujita") of La Paz, Bolivia. Fujita was the drilling contractor at Pulacayo during the successful 20,000 meter resource delineation program undertaken during late 2007 and early 2008. This program culminated with an independent estimate of mineral resources at the Pulacayo deposit by Micon International Limited ("MICON"), as set out in the National Instrument 43-101 ("NI 43-101") compliant technical report dated December 2008 entitled "Technical Report for the Pulacayo Project, Potosi District, Quijarro Province, Pulacayo Township, Bolivia" (the "Technical Report") as filed on SEDAR. Such resources form the basis of the ongoing scoping study currently being prepared by MICON." More
- January 15, 2010 | Item | ShareThis
Paramount Gold and Silver Announces Exercise of Warrants and Changes to its Board of Directors - "Paramount Gold and Silver Corp. (AMEX:PZG - News)(TSX:PZG - News)(Frankfurt:P6G - News) (the "Company") announces that the MineralFields Group has exercised warrants to purchase a total of 3,636,362 shares of common stock in the capital of the Company at a price per share of $1.25 for gross proceeds of C$4,454,525. The shares are not registered and thus currently restricted from trading. The Company plans to use the funds for the ongoing exploration of the San Miguel Project and area and general working capital." More
- January 15, 2010 | Item | ShareThis
Fronteer: Most Northerly Stepout Cuts 4.23 G/T Gold Over 48.8 Metres at Long Canyon Deposit, Nevada - "Fronteer (TSX:FRG - News)(AMEX:FRG - News) announces today that a new step-out hole at its Long Canyon deposit in northeastern Nevada has intersected 4.23 grams per tonne gold (0.124 ounces per ton) over 48.8 metres, including 10.07 g/t gold (0.294 oz/ton) over 15.20 metres." More
- January 15, 2010 | Item | ShareThis
SilverCrest Updates Santa Elena Mine Construction - "SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL - News) is pleased to report that mine construction activities at its 100% owned Santa Elena mine located in Sonora, Mexico are progressing on schedule and currently under budget. Santa Elena will be a high grade gold and silver, open pit heap leach mine that is expected to make its initial pour of gold and silver by mid-year and is scheduled to reach commercial production in the fourth quarter of this year." More
- January 15, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 15 January, 2010 | |
