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-- Posted Friday, 19 January 2007 | Digg This Article
| Close | Gain/Loss | On Week | Gold | $635.40 | +$8.10 | +1.60% | Silver | $12.81 | +$0.21 | +0.23% | XAU | 133.09 | +1.45% | -1.25% | HUI | 318.28 | +2.35% | -0.57% | GDM | 1021.53 | +1.70% | -0.71% | JSE Gold | 2690.61 | -2.73% | -1.51% | USD | 84.87 | -0.07 | -0.19% | Euro | 129.63 | +0.06 | +0.32% | Yen | 82.46 | -0.01 | -0.73% | Oil | $51.99 | +$1.51 | -1.89% | 10-Year | 4.773% | +0.022 | +0.04% | Bond | 110.78125 | -0.15625 | -0.03% | Dow | 12565.53 | -0.02% | +0.08% | Nasdaq | 2451.31 | +0.33% | -2.06% | S&P | 1430.50 | +0.29% | -0.02% |
The Metals: CoT Reports: Gold | Silver  Gold traded mostly slightly higher in Asia and London before it steadily rose in late morning New York trade, doubled its gains in afternoon trade, and ended near its highs with a gain of 1.29%. Silver followed a similar pattern and gained 1.67%.
Euro gold rose to about €490, platinum gained $2 to $1,157, palladium gained $3 to $339, and copper rose over 7 cents to about $2.57. Gold and silver equities rose roughly 2% in morning trade and remained near their highs into the close. The Economy: Report | For | Reading | Expected | Previous | Michigan Sentiment | Jan | 98.0 | 92.4 | 91.7 |
All of this week’s economic reports: Next week’s economic highlights include Leading Economic Indicators on Monday, Initial Jobless Claims, the Help-Wanted Index, and Existing Home Sales on Thursday, and Durable Goods Orders and New Home Sales on Friday. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose on short covering heading into the weekend as cold weather arrived to the Northeast U.S. and increased demand. The U.S. dollar index rose after Michigan Sentient came in better than expected, but it then fell off heading into the close and ended lower as traders took profits. Treasuries fell following the strong Michigan Sentiment report that made it less likely the fed will cut interest rates anytime soon. The Dow, Nasdaq, and S&P remained near unchanged on mixed earnings reports, higher oil, and interest rate concerns. Among the big names making news in the market Friday were Motorola, Citigroup, General Electric, Morgan Stanley, and Schlumberger. The Commentary: “February Gold finished up 8.3 at 636.4, 0.6 off the high and 8.2 up from the low. March Silver closed up 0.235 at 12.92. This was 0.22 up from the low and 0.02 off the high. While the initial gains in the oil market didn't seem to specifically lift the gold market early in the session Friday, the gains in oil prices into mid session eventually served to prompt increased buying interest. With the equity market also showing signs of optimism and the Dollar lingering around unchanged for most of the session the overall environment seemed to favor the bull camp. While the February contract wasn't able to climb up to the 200 day moving average of $636.4, the upward pulse in prices seemed to erase at least part of the prior session's weakness. Certainly seeing the University of Michigan sentiment readings come in much stronger than expected also helped to diffuse the overt bearishness from the prior session, but in the near term the trade seems to be ready to look to oil prices for direction. While the March silver mostly forged an inside day (compared to the prior session), silver certainly had a more favorable outside market setup than was seen in the prior session. In fact, copper prices at times were firm, equity prices were firm and oil prices mounted a slight short covering bounce. With the US numbers also coming out positive, it seems that the trade was simply without as many negatives. Some traders have expressed concern that the March contract continues to be held under the critical psychological level of $13.00.”- The Hightower Report, Futures Analysis and Forecasting
The Statistics: As of close of business: 1/18/2007 Gold Warehouse Stocks: | 7,498,420 | - 32,099 | Silver Warehouse Stocks: | 113,315,802 | - |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 451.84 | 14,527,242 | US$ 9,223m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 86.49 | 2,780,624 | US$ 1,767m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.67 | 342,760 | US$ 218m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,442 | US$ 204m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 1/18/2007 | | Total Net Assets | $895,915,575 | 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 1/18/2007 | | Total Net Assets | $1,528,888,720 | Ounces of Silver
in Trust | 119,101,742.400 | Shares Outstanding | 11,950,000 | Tonnes of Silver
in Trust | 3,704.48 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Sterling Mining’s (SRLM.OB) private placement and SilverCrest’s (SVL.V) drilling were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Apex Silver | SIL +6.94% $13.56 | 2. Crystallex | KRY +4.90% $3.00 | 3. Miramar | MNG+4.44% $4.23 |
LOSERS 1. Entree Gold | EGI -3.92% $1.47 | 2. Cardero | CDY -3.09% $1.57 | 3. Orezone | OZN-2.70% $1.3525 |
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: Molycor Increases Land Position in Nevada - More
- January 19, 2007 | |
Gold Seeker Weekly Wrap-Up: Gold & Silver End the Week with Over 1% Gains