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-- Posted Monday, 8 January 2007 | Digg This Article
| Close | Gain/Loss | Gold | $607.40 | +$2.30 | Silver | $12.27 | +$0.15 | XAU | 132.87 | -0.13% | HUI | 314.79 | +0.21% | GDM | 1011.47 | -0.25% | JSE Gold | 2792.36 | +0.64% | USD | 84.61 | -0.05 | Euro | 130.19 | +0.08 | Yen | 84.24 | -0.04 | Oil | $56.09 | -$0.22 | 10-Year | 4.660% | +0.014 | T-Bond | 112.125 | -0.03125 | Dow | 12423.49 | +0.21% | Nasdaq | 2438.20 | +0.16% | S&P | 1412.84 | +0.22% |
The Metals: CoT Reports: Gold | Silver  Gold rose a few dollars in Asia and London before it fell in late morning New York trade and found slight losses at one point, but it then rallied back higher into the close and ended with a gain of 0.38%. Silver fell near $12.00 in late Asian trade before it rose in London and climbed to about $12.30 in late morning New York trade, but it then fell off with gold and found slight losses ahead a rally into the close that left it with a gain of 1.24%.
Euro gold rose to about €467, platinum gained $10 to $1,118, palladium lost $4 to $326, and copper remained at about $2.52. Gold and silver equities fell over 1% by late morning, but they then rallied higher in afternoon trade and ended mixed and near unchanged. The Economy: Report | For | Reading | Expected | Previous | Consumer Credit | Nov | $12.3B | $5.5B | -$1.3B |
There are no major economic reports due out tomorrow. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose over a dollar in early trade on OPEC cut rumors and a supply dispute between Russia and Belarus, but it fell off and found slight losses by the end of trade on continued warm weather in the U.S. The U.S. dollar index remained near unchanged with little economic data to act on. Treasuries fell in further reaction to last week’s strong jobs data. The Dow, Nasdaq, and S&P fell in early trade as oil rose, but all three indices rallied higher in afternoon trade and closed with slight gains as oil ended lower. Among the big names making news in the market today were RadioShack, Caremark, General Electric and Vetco, and Welsh Carson and United Surgical Partners. The Commentary:  “February Gold finished up 2.5 at 609.4, 1.7 off the high and 4.3 up from the low.
March Silver closed up 0.13 at 12.36. This was 0.18 up from the low and 0.06 off the high. With an inside day on the charts the market seems to be attempting to build some support. Reports of physical bargain hunting buying certainly seemed to provide the gold market with an early lift on Monday, but the market in general was only able to mount modest gains for most of the session. With the Dollar failing to give off much in the way of direction, the gold trade was probably limited to a tighter trading range than would have normally been the case. With US consumer spending rising by $12.3 billion in November one might have expected the gold market to be lifted in a flight to quality play but as a whole few markets reacted to the Consumer Credit figures. In the end seeing gold manage a positive close in the face of a stronger equity market and weaker oil prices might be considered a moral victory for the bull camp. With the gold market providing positive direction for silver throughout the session and silver actually managing to rise above the prior day's closing value, it would seem like the bearish environment was mitigated slightly. While the copper market managed to forge a recovery well into positive ground on the session, the close in copper wasn't that supportive to silver. It is possible that strength in the equity and platinum markets provided some lift to silver prices which were certainly overdone technically from the selling in the prior week.” - The Hightower Report, Futures Analysis and Forecasting GATA Posts:
Hedging hangs in the balance Bolivia reported ready to increase mining taxes 600% Digital gold and a flawed global economic order Bond market derivatives now offer profit without risk Adrian Ash: Quantum Finance and the scramble for gold Markets misread 'strong dollar' policy, Harvard economist says Wall Street Journal examines struggle to start mining in Mongolia 'Infinite money and its consequences' is theme of CMRE spring meeting in NYC The Statistics: As of close of business: 1/05/2007 Gold Warehouse Stocks: | 7,530,907 | -2,900 | Silver Warehouse Stocks: | 113,477,130 | - |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 453.24 | 14,572,124 | US$ 8,878m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 90.28 | 2,902,721 | US$ 1,767m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.53 | 338,348 | US$ 206m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,467 | US$ 200m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 1/5/2007 | | Total Net Assets | $864,318,571 | Ounces of Gold
in Trust | 1,428,943.630 | Shares Outstanding | 14,400,000 | Tonnes of Gold
in Trust | 44.45 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 1/5/2007 | | Total Net Assets | $1,550,451,945 | Ounces of Silver
in Trust | 122,091,233.400 | Shares Outstanding | 12,250,000 | Tonnes of Silver
in Trust | 3,797.46 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Bolivia’s mining taxes, Almaden’s (AAU) project advancement, Claude’s (CGR) management team additions, Rubicon’s (RBY) update, Anatolia’s (ANO.TO) update, UC Resources’ (UC.V) expanded land package, and Sterling Mining’s (SRLM.OB) update were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Cardero | CDY +8.11% $1.60 | 2. New Gold | NGD+4.41% $7.2044 | 3. Rio Narcea | RNO +3.90% $2.40 |
LOSERS 1. Crystallex | KRY -10.00% $3.42 | 2. Gold Reserve | GRZ -5.13% $4.16 | 3. Apex Silver | SIL -4.64% $14.37 |
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:
G&S Minerals, Inc. Announces $6.2 Million Financing Slated for Expansion and Acquisition - More
- January 08, 2007 | Item | E-mail
Gold Canyon Announces Expansion of High Grade Gallium Mineralization in the C-15 Zone at the Cordero Gallium Project - More
- January 08, 2007 | Item | E-mail
Oriental Minerals Closes Non-Brokered Private Placement - More
- January 08, 2007 | Item | E-mail
Almaden Will Advance the Caballo Blanco Project in 2007 - "Almaden Minerals Ltd. (TSX:AMM.TO - News)(AMEX:AAU - News) ("Almaden") is pleased to announce that it has completed a joint venture agreement with Comaplex Minerals Ltd. (TSX:CMF.TO - News) ("Comaplex") which earned a 60% interest in Almaden's Caballo Blanco project in 2006 by meeting its exploration spending requirements. The terms of the joint venture allow Almaden to be the operator of the 2007 program." More
- January 08, 2007 | Item | E-mail
Claude Resources Inc. announces additions to management team - "Claude Resources Inc. (TSX:CRJ - News; AMEX:CGR - News; "Claude") is pleased to announce the addition of two experienced mining professionals to its executive team. Ms. Judy Stoeterau has been appointed Vice-President, Exploration and Mr. Philip Ng has joined the Company as Vice-President, Operations." More
- January 08, 2007 | Item | E-mail
UC Resources Inc. Expands Copalquin Land Package to 1,500 Sq. Kilometres - "As announced (see NR dated September 20, 2006), one of the objectives of Phase III exploration program on the Copalquin property was to confirm that epithermal gold and silver mineralization at Copalquin is more extensive than had been recognized by previous operators. New results from recently completed close spaced soil geochemical surveys located approximately 500 meters to the east of the Cometa Zone identified highly anomalous gold and silver values in soils covering an area of several hundred square meters, with peak values ranging from 0.4 to 0.7 g/t gold and 5.0 to 10.3 g/t silver." More
- January 08, 2007 | Item | E-mail
Merrex Intersects Significant Gold Values in Initial RAB Drilling at Siribaya Project in Mali, West Africa - More
- January 08, 2007 | Item | E-mail
Bolivia seeks big tax hike on mining companies - "Bolivia's mining minister has expressed a desire to raise taxes sixfold on mining companies with operations in the country, but will consult with the companies before implementing tax hikes, a spokeswoman for the Mining Ministry said on Monday." More
- January 08, 2007 | Item | E-mail
Avalon Announces new Executive Appointments and Head Office Move - More
- January 08, 2007 | Item | E-mail
Adanac Hires Fuller Fletcher for European Exposure - More
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Gold Seeker Closing Report: Gold & Silver Gain in Seesaw Trade