“Crude oil futures prices fell around the globe on Monday following a steep run-up on Friday that was prompted by persistent concerns about winter fuel supplies.  Light sweet crude for January delivery settled at $48.64 per barrel, down 25 cents, on the New York Mercantile Exchange.”

The 10-Year Treasury note yield fell lower throughout the day and lost 0.031 points to 4.165% as the 30-Year US Treasury bond price gained 0.4125 pints to 113.3125.

The Dow, Nasdaq, and S&P were all lower this morning before turning higher about 1PM EST as oil’s gains turned into losses.  The Dow gained 0.31% to 10489.42, the Nasdaq gained 0.7% to 2085.19, and the S&P gained 0.59% to 1177.24.

The U.S. dollar index fell 0.11 points to 83.15, the euro index gained 0.09 points to 130.28, and the yen lost 0.13 points to 96.85.

Gold & Silver Report from GoldSeek.com & SilverSeek.com:

Gold and silver were steady overnight with gold ending near the highs of its New York session and silver ending near the lows of its New York session for a mixed day in the precious metals.  Gold gained $2.10 to $448.50 and silver lost $0.02 to $7.55.

The XAU, HUI, and GDM were mixed this morning before turning higher in the afternoon and ending with minor gains.  The XAU gained 0.52% to 110.25, the HUI gained 0.29% to 242.02, and the GDM gained 0.38% to $768.82.  GLD gained $0.19 to $44.97.  Be sure to read James Turk’s article “Where Is the ETF’s Gold?” before investing in GLD.

Gold & Silver Stock News Update from GoldReview.com:

Today’s featured story: "Pan American Silver Corp. (PAAS: NASDAQ; PAA: TSX) announced today that it has sold its 20% interest in the Dukat silver mine in Magadan State, Russia to OAO MNPO Polimetall, the mine's 80% owner and operator, for up to $43 million. Pan American has received $20.5 million in cash and is to receive up to $22.5 million in contingent future payments."

We also launched a new “Meet the CEO” over the weekend.  Our current guest is Bradford Cooke, the CEO of Endeavor Silver Corp.  Click here to submit your questions

Harmony Gold's bid for Gold Fields,  Goldcorp’s dividend, Newmont’s dealing with Solitario and StrataGold, Bema’s relationship with Arizona Star, Rio Narcea’s change in management, Northern Dyanasty’s samples, and Russia’s Polimetall’s buy out of Magaden Silver were among the other big stories in the gold and silver mining industry making headlines today; get the full stories at http://www.goldreview.com/.  Access our archives here and use the menu on the left hand side in order to navigate through all of our stories.

- Written by Chris Mullen

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-- Posted Monday, 22 November 2004 | Digg This Article