-- Posted 15 April, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1160.15 | +$1.45 |
Silver | $18.41 | UNCH |
XAU | 173.06 | -1.04% |
HUI | 438.31 | -1.00% |
GDM | 1313.93 | -1.03% |
JSE Gold | 2314.81 | +2.15 |
USD | 80.47 | +0.29 |
Euro | 135.78 | -0.74 |
Yen | 107.48 | +0.21 |
Oil | $85.51 | -$0.33 |
10-Year | 3.848% | -0.007 |
T-Bond | 115.90625 | +0.09375 |
Dow | 11144.57 | +0.19% |
Nasdaq | 2515.69 | +0.43% |
S&P | 1211.67 | +0.08% |
The Metals:
Gold fell in Asia and London to see a loss of $8.50 at as low as $1150.20 by about 8:35AM EST, but it then rallied back higher for most of the rest of trade in New York and ended near it late session high of $1161.35 with a gain of 0.13%. Silver dropped over 1% to as low as $18.20 before it also climbed back higher and ended unchanged on the day.
Euro gold rose to about €855, platinum lost $5 to $1717.50, and copper fell slightly to about $3.60.
Gold and silver equities remained near unchanged for most of the morning, but they then fell to see over 1% losses by early afternoon and remained near that level into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 4/10 | 484K | 440K | 460K |
Empire Manufacturing Index | April | 31.86 | 24.00 | 22.86 |
Net Long-Term TIC Flows | Feb | $47.1B | $29.7B | $15.0B |
Capacity Utilization | Mar | 73.2% | 73.3% | 73.0% |
Industrial Production | Mar | 0.1% | 0.7% | 0.3% |
Philadelphia Fed | Apr | 20.2 | 20.0 | 18.9 |
Fed will not monetize deficit: Fisher Reuters
U.S. Foreclosure Filings Rise 16% as Bank Seizures Set Record Bloomberg
Tomorrow at 8:30AM EST brings Building Permits for March expected at 626,000 and Housing Starts expected at 610,000. At 9:55 is Michigan Sentiment for April expected at 75.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries rose on mixed economic data and renewed worries over Greece that sent the euro lower.
The Dow, Nasdaq, and S&P found slight gains as mixed economic data was overcome by decent earnings reports.
Among the big names making news in the market today were UPS, Schwab, GE, Apache and Mariner, Lehman, and Wal-Mart.
The Commentary:
“As I mentioned yesterday, I didn't expect much change in open interest... and there wasn't. Gold open interest rose 356 contracts on volume of 140,269 contracts. Silver o.i. actually fell 619 contracts on very large volume of 57,820 contracts... of which almost 25% were roll-overs into July and later months. We're now half way through April... and May is a delivery month for silver. You can see that the activity level is picking up as we approach options expiry [April 28th] and first notice day... April 30th.
The CME Delivery Report shows that 101 gold and 49 silver contracts are up for delivery on Friday. So far this month, 453 silver contracts have been delivered on the Comex. That's 2.3 million ounces... which ain't too shabby for a non-delivery month for silver... and the month is only half over. There were no changes reported in GLD yesterday... but the SLV had another whopping amount of silver taken out of it. This time it was an eye-watering 3,431,792 troy ounces. That's two full days of world silver production! Since February 26th... 14.4 million ounces of silver have been withdrawn from SLV by the 'authorized participants' because silver in quantity is not available anywhere else. The U.S. Mint had no report on Wednesday... but the Comex-approved depositories indicated that 367,866 ounces of silver were withdrawn on Tuesday. There was a lot of in-and-out activity... and if you want to see it for yourself... here's the link.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
“U.S. Stock Market - The final pieces to the puzzle are coming together as planned. The close above DJIA 11,000 has indeed empowered the “Don’t Worry, Be Happy” crowd. The media has been full of chest-beating bulls and the public is biting the apple again. This is just a sample of the emails I’ve received in the last 48hrs:
“…I think you do a disservice to your followers by not recognizing the bull market that is unfolding before your eyes, tempered by your cautionary warnings. They will miss out on the opportunities that have opened since the Dow bottom at 6700. Not just owning stocks but biz opportunities, that someday be described as phenomenal, incredible and like wording…”
I might mention that this person failed to note my buy signal just one day from the bottom in March, 2009 and my consistent call for DJIA 11,000 and an economic recovery through June-July of 2010. But his extremely half-full cup view of the stock market and economy has fast become the way of the land. I fully suspect and hope it shall continue for awhile longer so I can say without reservation what the leader of the “A-Team” was famous for.
U.S. Dollar – I’ve suggested for months that the U.S. Dollar was merely in a typical and necessary “countertrend” rally within a secular bear market. Like the U.S. stock market, it too is pretty much playing out as anticipated.
I have spoken of late how momentum was failing. As you can see, we broke below an uptrend line and it’s natural for the market to rally back to that line. I continue to use 83-84 as the maximum upside potential in this bear market rally and think it’s still too early to look for a renewed decline. We could see a multi-month rather narrow trading range.
Gold – What can I say that I haven’t said already? I continue to find it amusing how continuously-wrong gold forecasters are still taken into consideration by some. The latest being the GFMS so-called forecast. Between them and the “Senior Analyst”, I can’t think of anyone who has been more consistently wrong. We remain in the “mother” of all gold secular bull markets and the number of forecasters who have called for its demise only to be trampled over just grows and grows.
U.S. Bonds – We get as close as one can get to breaking the back of the multi-decade bond bull market only to see enough of a rally to hold off the inevitable. To me, it’s a question of when, not if, a new multi-year bear market in bonds takes hold.”- Peter Grandich, Grandich Letter
The Statistics:
Activity from: 4/14/2010
Gold Warehouse Stocks: | 10,093,884 | +9,903 |
Silver Warehouse Stocks: | 115,586,255 | +17,950 |
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 | 1141.041 | 36,685,623 | US$42,344m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 115.34 | 3,707,172 | US$4,297m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.35 | 491,298 | US$572m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.19 | 1,581,425 | US$1,825m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,978 | US$6m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 76.94 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,025.78: -106.74 change from yesterday’s data.
The Miners:
Lihir’s (LIHR) letter to shareholders, Great Panther’s (GPR.TO) first quarter production, and Yale’s (YLL.V) sample results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Banro | BAA +4.04% $2.32 |
2. Capital Gold | CGC+4.00% $3.90 |
3. Gold Reserve | GRZ +2.73% $1.13 |
LOSERS
1. Timberline | TLR -5.36% $1.06 |
2. Entree | EGI -4.64% $2.88 |
3. Gammon Gold | GRS -3.12% $7.14 |
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:
Adroit Resources Inc.: Private Placement for Up to $600,000 - More
- April 15, 2010 | Item | ShareThis
Crown Minerals and Gold Summit Announce Agreement to Combine Companies - More
- April 15, 2010 | Item | ShareThis
Mexoro Minerals Ltd announces first shipment of concentrates for sale from the Cieneguita Gold Project - More
- April 15, 2010 | Item | ShareThis
Tarsis Closes $400,000 Financing - More
- April 15, 2010 | Item | ShareThis
Xtierra Intersects 11.5 g/t Gold Over 4 Metres at El Dorado - More
- April 15, 2010 | Item | ShareThis
Manicouagan Minerals Earns 51% Interest in Pickle Lake Gold Properties-Plans to Increase to 70% - More
- April 15, 2010 | Item | ShareThis
Star Gold to Commence Its Drilling Program on the Company's Excalibur Property, Mineral County, Nevada - More
- April 15, 2010 | Item | ShareThis
Canadian Zinc Corporation: Socio-Economic Benefits of Proposed Prairie Creek Mine - More
- April 15, 2010 | Item | ShareThis
Lithium Corporation Corporate Update - More
- April 15, 2010 | Item | ShareThis
GobiMin Announces Results of 2009 - More
- April 15, 2010 | Item | ShareThis
Cache Options Fourth Rare-Earth Element Property - More
- April 15, 2010 | Item | ShareThis
Great Panther Reports First Quarter Production - "GREAT PANTHER SILVER LIMITED (TSX:GPR - News) (the "Company") is pleased to report first quarter 2010 production results from its two wholly-owned Mexican silver mining operations, Guanajuato and Topia. Metal production was 526,949 silver equivalent ounces (1) ("Ag eq oz"), a 10% increase over the first quarter of 2009, but 16% down compared to the previous quarter ended December 31, 2009. It includes: 357,131 silver ounces ("Ag oz"), 1,598 gold ounces ("Au oz"), 640,200 lbs of lead, and 760,640 lbs of zinc." More
- April 15, 2010 | Item | ShareThis
Lincoln Mining appoints Chief Operating Officer - More
- April 15, 2010 | Item | ShareThis
Anaconda Mining announces third quarter financial results and Pine Cove Mill expansion update - More
- April 15, 2010 | Item | ShareThis
Nirek Resources Inc. Ships Gold Bullion Bars to Warrants Holders - More
- April 15, 2010 | Item | ShareThis
Valley High Retains Renmark Financial Communications Inc. - More
- April 15, 2010 | Item | ShareThis
International PBX Ventures Closes First Tranche of Financing - More
- April 15, 2010 | Item | ShareThis
Rusoro Mining Ltd.: Results Received from Underground Sampling at SREP Project - More
- April 15, 2010 | Item | ShareThis
SLAM prepares for drilling at Silverjack - More
- April 15, 2010 | Item | ShareThis
Wallbridge Mining Annual General Meeting to be held at Dynamic Earth in Sudbury - More
- April 15, 2010 | Item | ShareThis
Terra Ventures Inc.: Roughrider Continues to Grow - More
- April 15, 2010 | Item | ShareThis
Alexandria Continues to Expand Akasaba Property Intersecting 17.33 g/t Au Over 1.5m in Latest Drilling - More
- April 15, 2010 | Item | ShareThis
Eagle Plains/Parkside Execute Option Agreement on Elsiar Copper-Gold Porphyry Project, West-Central B.C. - More
- April 15, 2010 | Item | ShareThis
Alto Group Holdings Announces the Appointment of Chene Gardner as CFO - More
- April 15, 2010 | Item | ShareThis
Fortune Minerals announces the appointment of Grant Chen to the board of directors - More
- April 15, 2010 | Item | ShareThis
Sphere Resources Inc.: Director Changes and Expansion of Corporate Strategy to Explore Investments in Lithium and Other High Value Commodities - More
- April 15, 2010 | Item | ShareThis
Rocmec Announces Preliminary Results of the 2010 Drill Campaign at Its Rocmec 1 Gold Property - More
- April 15, 2010 | Item | ShareThis
Northquest Ltd.: Drilling Program Planned at High Falls Gold Project, Ontario - More
- April 15, 2010 | Item | ShareThis
Ranger Gold Corp. Approves Drilling Budget for the Truman Property - More
- April 15, 2010 | Item | ShareThis
Brazil Gold Provides Summary of Western Amazon Properties & Proposed Exploration Program - More
- April 15, 2010 | Item | ShareThis
Uranium International Corp. Completes Private Placement - More
- April 15, 2010 | Item | ShareThis
Victoria Gold to Host Conference Call on Monday, April 19, 2010 at 11:00 EST - More
- April 15, 2010 | Item | ShareThis
Unico, Incorporated Engages Moody Capital to Assist in the Evaluation of Strategic Alternatives - More
- April 15, 2010 | Item | ShareThis
AmeriLithium to Commence Exploration on Nevada Lithium Project on April 20, 2010 - More
- April 15, 2010 | Item | ShareThis
Arianne Buys Back all NSR Royalties on its Brouillan Property - More
- April 15, 2010 | Item | ShareThis
Starcore International Mines Ltd.: Ralf Kleine Joins Technical Advisory Board at San Martin - More
- April 15, 2010 | Item | ShareThis
White Canyon Purchases Historic Uranium Database-to Reduce Drilling Required for Resource Definition - More
- April 15, 2010 | Item | ShareThis
GWR Resources Phase 1 Drilling Underway - Initial Results Encouraging - More
- April 15, 2010 | Item | ShareThis
Strateco Resources Inc. Retains Renmark Financial Communications Inc. - More
- April 15, 2010 | Item | ShareThis
Mustang Expands Resources in Project Area - More
- April 15, 2010 | Item | ShareThis
American Lithium Minerals Announces the Appointment of Mr. Patrick Reid to the Board of Directors - More
- April 15, 2010 | Item | ShareThis
Zazu's Positive Scoping Study for Lik Property Released - More
- April 15, 2010 | Item | ShareThis
Redstar Continues to Expand Gold System at Red Lake Project - More
- April 15, 2010 | Item | ShareThis
Purepoint Uranium Group Inc.: Commences Airborne Survey at Henday Block Project - More
- April 15, 2010 | Item | ShareThis
Romios Acquires 100% Interest in the Trek Property in Northwestern British Columbia - More
- April 15, 2010 | Item | ShareThis
Carpathian Obtains Initial Permitting for the Development of the RDM Gold Project, Brazil - More
- April 15, 2010 | Item | ShareThis
Hathor Exploration Limited: Roughrider Continues to Grow - More
- April 15, 2010 | Item | ShareThis
Mandalay Resources Corporation Announces Completion of a New NI 43-101 Technical Report at its La Quebrada Cu-Ag Project - More
- April 15, 2010 | Item | ShareThis
Avion Intersects 21.77 g/t Au Over 21 Metres, Near Surface, 2 km South of Tabakoto - More
- April 15, 2010 | Item | ShareThis
Temex and Goldcorp expand agreement in Timmins Gold Camp - More
- April 15, 2010 | Item | ShareThis
Central Intersects 24 Grams Per Tonne Gold at Red Lake - More
- April 15, 2010 | Item | ShareThis
Galway intercepts high-grade gold in three of its first seven drill holes at its California concessions in Colombia - More
- April 15, 2010 | Item | ShareThis
Alamos Gold Inc. Reports First Quarter 2010 Operating Results - More
- April 15, 2010 | Item | ShareThis
Goldrea Resources Corp.: China Finance Update and Review - More
- April 15, 2010 | Item | ShareThis
Evolving Gold Update - More
- April 15, 2010 | Item | ShareThis
Orosur Mining Inc. Announces Results for the Third Quarter and Nine Months Ended February 28, 2010 and Pantanillo Drilling Results - More
- April 15, 2010 | Item | ShareThis
Medusa Mining Limited: AIM Cancellation & Admission to the Official List - More
- April 15, 2010 | Item | ShareThis
LGL (Lihir Gold Limited) Issues Letter to Shareholders Regarding Important Developments - "Lihir Gold Ltd (TSX:LGG - News)(ASX:LGL - News)(NASDAQ:LIHR - News) ("LGL") reports it has issued a Letter to Shareholders informing them of some important developments for LGL and of steps the Board has taken in response to those developments. The Letter can be found on the Company's website (http://www.lglgold.com/) and on SEDAR (http://www.sedar.com/)." More
- April 15, 2010 | Item | ShareThis
Yale Samples 333.4 g/t Silver and 0.52 g/t Gold over 90 cm at Los Amoles Property - "Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to report the first results from the wholly owned 1,630 hectare (or 16.3 square kilometre) Los Amoles Property, located approximately 150 kilometres northeast of the Hermosillo, Sonora State, Mexico. The property is approximately 10 kilometres northeast of the La Caridad Mine, operated by Grupo Mexico, which is one of the largest mining and processing complexes in Mexico." More
- April 15, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 15 April, 2010 | |
