-- Posted 19 February, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1121.85 | +$4.05 | +3.09% |
Silver | $16.38 | +$0.36 | +6.29% |
XAU | 164.44 | -0.51% | +3.03% |
HUI | 410.78 | -0.97% | +2.26% |
GDM | 1232.19 | -0.96% | +2.10% |
JSE Gold | 2226.24 | -38.65 | -1.22% |
USD | 80.62 | +0.20 | +0.39% |
Euro | 136.13 | +0.93 | -0.05% |
Yen | 109.15 | +0.40 | -1.77% |
Oil | $79.81 | +$0.75 | +7.66% |
10-Year | 3.782% | -0.021 | +2.41% |
Bond | 116.78125 | +0.59375 | -0.66% |
Dow | 10402.35 | +0.09% | +3.00% |
Nasdaq | 2243.87 | +0.10% | +2.76% |
S&P | 1109.17 | +0.22% | +3.13% |
The Metals:
Gold fell as much as $16.95 to $1100.85 in Asia before it rallied back higher throughout most of trade in London and New York and ended near its late session high of $1126.60 with a gain of 0.36%. Silver dropped $0.27 to $15.75 before it also rallied back higher and ended near its late session high of $16.485 with a gain of 2.25%.
Euro gold rose to a new all-time high at about €826, platinum gained $13.50 to $1531, and copper gained another 7 cents to about $3.36.
Gold and silver equities fell almost 2% in the fist half hour of trade before they rallied back higher to see slight gains by early afternoon, but they then fell back off a bit in the last couple of hours of trade and ended almost 1% lower.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | Jan | 0.2% | 0.3% | 0.2% |
Core CPI | Jan | -0.1% | 0.1% | 0.1% |
The fed raised the discount rate by 25 basis points to 0.75% after the market closed yesterday. “The Fed portrayed the decision as a “normalization” of lending that would have no impact on monetary policy, repeating in a statement in Washington yesterday that its benchmark federal funds rate would stay low for an “extended period.” The assurances didn’t stop investors from increasing bets that the Fed would tighten policy in the fourth quarter.”
All of this week’s other economic reports:
Next week’s economic highlights include the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, New Home Sales on Wednesday, Initial Jobless Claims, Durable Goods Orders, and the FHFA Housing Price Index on Thursday, and GDP, Chicago PMI, Michigan Sentiment, and Existing Home Sales on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed near $80 a barrel on worries over Iran’s nuclear program and France’s refinery strikes.
The U.S. dollar index erased a good deal of its overnight gains but still ended higher on the fed’s move to raise the discount rate.
Treasuries ended modestly higher as traders digested the fed’s latest move and looked ahead to next week’s huge supply of debt auctions.
The Dow, Nasdaq, and S&P traded mostly slightly higher on the fed’s assurance that its discount rate hike does not telegraph a hike in the fed funds rate anytime soon.
Among the big names making news in the market Friday were Nestle, Carrefour, and J.C. Penney.
The Commentary:
“The final Pillar in the gold bull market is a bear market in US Treasuries.
The increase in the discount rate to 0.75% is driven by market realities and a desire to be able to sell US Treasuries as foreign demand falls off.
The bull market in gold moved from $400 to $887.50 in the 1970s as interest rates rose from 3% to 14 7.8% on Ten Year money.
Once again the knee jerk reaction is to sell gold and buy the dollar. Be assured this must happen.
Because the final Pillar is falling while Gold is over $1000, you can look at Armstrong’s $5000 prediction as a realistic possibility.
Stay the course.
Respectfully,”- Jim Sinclair, JSMineset.com
GATA Posts:
Gold Stock Bull sees the IMF as GATA does
J.S. Kim: IMF gold sales vs. the alchemy of gold futures
The Statistics:
Activity from: 2/18/2010
Gold Warehouse Stocks: | 9,945,497 | +7,589 |
Silver Warehouse Stocks: | 108,235,555 | +37,603 |
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 | 1109.424 | 35,669,096 | US$39,681m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 119.36 | 3,836,499 | US$4,289m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.35 | 491,588 | US$552m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 52.75 | 1,695,942 | US$1,896m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,981 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: The JSE added 0.23 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 77.44 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,446.40 - No change from yesterday’s data.
The Miners:
Barrick Gold’s (ABX) output, Vista Gold’s (VGZ) permit dismissal, Royal Gold’s (RGLD) final order from the Ontario Superior Court of Justice with respect to the previously announced plan of arrangement with International Royalty, and Silver Standard’s (SSRI) project sale were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Timberline | TLR +5.15% $1.02 |
2. Tanzanian Royalty | TRE +4.70% $4.01 |
3. Kimber | KBX +2.85% $1.08 |
LOSERS
1. Solitario | XPL -6.73% $2.08 |
2. Seabridge | SA-4.54% $23.54 |
3. Vista Gold | VGZ-4.05% $2.13 |
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:
Royal Roads announces change in board of directors and management - More
- February 19, 2010 | Item | ShareThis
Acadian Mining announces change in board of directors and management - More
- February 19, 2010 | Item | ShareThis
Pan American Lithium Corp. Announces the Results of Depth Soundings on Its Laguna Verde Project - More
- February 19, 2010 | Item | ShareThis
Golden Hope Mines to Acquire Mining Claims in the Beauce Region of South Eastern Quebec - More
- February 19, 2010 | Item | ShareThis
Barrick sees lower gold output from Peru in 2010 - "Barrick Gold Corp (ABX.TO) said Friday it sees production at its two Peruvian mines falling this year as it gets into lower ore grades, and that it expects to extend the life of its Pierina mine to the middle of 2013.
The company, which operates the Lagunas Norte and the Pierina gold mines in Peru, is the world's largest gold producer." More
- February 19, 2010 | Item | ShareThis
Santa Fe Metals Announces Private Placement - More
- February 19, 2010 | Item | ShareThis
Lincoln Mining finalizes La Bufa Purchase Agreement - More
- February 19, 2010 | Item | ShareThis
United Uranium Corp. Announces Grant of Stock Options - More
- February 19, 2010 | Item | ShareThis
Plan of Arrangement between Royal Gold and International Royalty Corporation Receives Final Order - "ROYAL GOLD, INC. (NASDAQ:RGLD - News) (TSX:RGL - News) and INTERNATIONAL ROYALTY CORPORATION (“IRC”) (TSX:IRC - News) (NYSE-A:ROY) today announced that they obtained a final order from the Ontario Superior Court of Justice with respect to the previously announced plan of arrangement (the “Arrangement”) between Royal Gold and IRC. Royal Gold and IRC expect to complete the Arrangement on or about February 22, 2010." More
- February 19, 2010 | Item | ShareThis
Salares Lithium Forms Corporate Advisory Board and Appoints Dr. Ian Hutcheon as a Member - More
- February 19, 2010 | Item | ShareThis
NioGold Mining Corporation Investor Update - More
- February 19, 2010 | Item | ShareThis
Steve Penrod Named Vice President of United States Enrichment Corporation - More
- February 19, 2010 | Item | ShareThis
Laurion Retains Exploration and Development Consultant, GeoVector Management Inc. - More
- February 19, 2010 | Item | ShareThis
Can-Cal Resources Ltd. Announces Final Closing of Financing - More
- February 19, 2010 | Item | ShareThis
Capella Releases Positive Metallurgical Test Results for Its Lajitas Gold Project - More
- February 19, 2010 | Item | ShareThis
Nord Resources Receives Notice of Overdue Payment Under Copper Hedge Agreement - More
- February 19, 2010 | Item | ShareThis
Q-Gold/Upper Canyon joint venture explores extension of the Mine Centre gold/silver zone - More
- February 19, 2010 | Item | ShareThis
Marathon PGM Drills 3.94 g/t Gold Over 9 Metres Near Surface at Leprechaun Gold Deposit - More
- February 19, 2010 | Item | ShareThis
Marathon and Mountain Lake Report Positive Initial Results from the Ongoing Drill Program at the Valentine Lake Gold Project - More
- February 19, 2010 | Item | ShareThis
Rochester Commences Drill Program at Mina Real - More
- February 19, 2010 | Item | ShareThis
Drilling on Nampala: results beyond expectations - More
- February 19, 2010 | Item | ShareThis
Li3 Energy Appoints David Wahl and Antonio Ortúzar as Directors - More
- February 19, 2010 | Item | ShareThis
International Royalty obtains final order for plan of arrangement - "International Royalty Corporation (NYSE-A: ROY, TSX: IRC) ("IRC") today announced that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) with respect to IRC's previously announced plan of arrangement (the "Arrangement") with Royal Gold, Inc. ("Royal Gold")." More
- February 19, 2010 | Item | ShareThis
Global Gold Hedge book falls 4Moz in Q4 - "Outstanding global gold hedges fell by 4.0Moz in the fourth quarter, bringing the total decline in gold hedges for 2009 to 8Moz.
This is according to the VM Group/Fortis Bank Gold Hedging Report, which says that at the end of 2009, the total global hedge book stood at 7.9Moz." More
- February 19, 2010 | Item | ShareThis
Vista Gold Corp. Announces Dismissal of Change of Forest Land Use Permit Application for the Paredones Amarillos Gold Project - "Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) announced today that its wholly owned Mexican subsidiary, Minera Paredones Amarillos S.A. de C.V. ("MPA") has received notice from the Mexican Secretariat of Environment and Natural Resources ("SEMARNAT") that SEMARNAT has dismissed, on administrative grounds, MPA's application for the Change of Forest Land Use Permit ("CUSF") for the Company's Paredones Amarillos gold project in Baja California Sur, Mexico ("Paredones Project")." More
- February 19, 2010 | Item | ShareThis
Silver Standard to Sell Silvertip Project - "Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) is pleased to report that it has entered into an agreement to sell 100% of its interest in the Silvertip Project to Silvercorp Metals Inc. ("Silvercorp") for total consideration of CDN$15.0 million, with up to CDN$7.5 million payable in common shares of Silvercorp. Subject to the satisfaction of customary closing conditions, the completion of the transaction is expected to take place on or about February 26, 2010, or such other date as agreed upon between the parties." More
- February 19, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 19 February, 2010 | |
