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-- Posted Friday, 7 December 2007 | Digg This Article | Source: GoldSeek.com
| Close | Gain/Loss | On Week | Gold | $794.40 | -$6.90 | +1.44% | Silver | $14.34 | -$0.10 | +2.58% | XAU | 174.39 | -0.11% | +1.94% | HUI | 412.06 | -0.20% | +1.44% | GDM | 1267.93 | -0.46% | +0.89% | JSE Gold | 2430.87 | -2.16% | -8.71% | USD | 76.29 | -0.11 | +0.18% | Euro | 146.57 | +0.26 | +0.06% | Yen | 89.54 | -0.25 | -0.53% | Oil | $88.28 | -$1.95 | -0.48% | 10-Year | 4.120% | +0.022 | +3.73% | Bond | 115.1875 | -1.4375 | -1.71% | Dow | 13625.58 | +0.04% | +1.90% | Nasdaq | 2706.16 | -0.11% | +1.70% | S&P | 1504.66 | -0.18% | +1.59% |
The Metals:  Gold traded mostly slightly higher in Asia and mostly slightly lower in London before it spiked up to $805.15 in early New York trade, but it then fell back off in the next hour to as low as $791.05 ahead of a bounce higher into the close that left it with a loss of 0.86%. Silver followed a similar pattern and spiked to $14.53 before it plummeted to $14.22 between 9AM and 10AM EST and ended 12 cents off that low with a loss of 0.69%.
Euro gold fell to about €542, platinum lost $7 to $1455, palladium remained unchanged at $346, and copper rose over 7 cents to about $3.07. Gold and silver equities fell nearly 2% in the first two hours of trade, but they then slowly climbed back higher for the rest of trade and ended with minimal losses. CoT Reports: Gold | Silver The Economy: Report | For | Reading | Expected | Previous | Nonfarm Payrolls | Nov | 94K | 70K | 170K | Unemployment Rate | Nov | 4.7% | 4.8% | 4.7% | Hourly Earnings | Nov | 0.5% | 0.3% | 0.1% | Average Workweek | Nov | 33.8 | 33.8 | 33.8 | Michigan Sentiment | Dec | 74.5 | 75.0 | 76.1 | Consumer Credit | Oct | $4.7B | $6.0B | $3.2B |
The BLS Net Birth/Death adjustment added 51,000 payrolls to November’s data. All of this week’s economic reports: Next week’s economic highlights include Pending Home Sales on Monday, Wholesale Inventories and a FOMC policy statement on Tuesday, Export and Import Prices, the Trade Balance, and the Treasury Budget on Wednesday, Retail Sales, PPI, Initial Jobless Claims, and Business Inventories on Thursday, and CPI, Industrial Production, and Capacity Utilization on Friday. Today's Gold Seeker Report Is Sponsored By:
Starcore International is a gold and silver producer in Mexico and a 'Tier One' company listed on the TSX-V under the symbol SAM. The San Martin Gold mine was acquired January 2007 from Goldcorp Inc. It is located about 50 km east of the City of Querétaro in Querétaro State, a few hours drive from Mexico City. The company currently retains an 80 to 20 joint venture agreement with Goldcorp. Inc. in the development of the Cerro Dolores, El Transito Deposit 190 km south - southwest of Mexico City. The El Transito Deposit is a silver-lead-zinc replacement orebody defined by over $US 2 million in development expenditures Click Here to Learn More... |
The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell about $2 on doubts that current and future demand levels can support current prices as reports also surfaced of expanding exploration for new deposits in the future. The U.S. dollar index rose in early trade and treasuries fell after the better than expected jobs report made it more likely the fed will cut interest rates by just 25 basis points at their meeting next week rather than the 50 basis points that some are hoping for, however the dollar did end lower on the day as losses against the euro overtook gains versus the yen. The Dow, Nasdaq, and S&P remained mixed and near unchanged throughout the day as traders debated about what the fed will do next Tuesday. Among the big names making news in the market Friday were Macrovision and Gemstar, and First Marblehead. The Commentary:  “President Bush’s actions to secure the future home of many simple folks is both noble and necessary and a comfort to them, but it remains to be seen if it leads to banks feeling comfortable with each other again. Meanwhile the gold price is waiting to see and consolidating. It looks like it is moving to a point where it is going to be dramatic one way or the other. Next week may tell us which way, as will the U.S. $”- Julian D.W. Phillips, www.goldforecaster.com
 “February Gold finished down 6.9 at 800.2, 9.8 off the high and 3.4 up from the low.
March Silver closed down 0.12 at 14.505. This was 0.075 up from the low and 0.155 off the high. CBOT gold closed sharply lower on the day but well off of the lows and back above the psychological support at 800 for February gold. The market managed to gain near $12 on the week. Ideas that the neutral reading for the jobs report in the morning was not volatile enough for the Fed to cut rates more than 25 basis points next week helped to pressure the market early in the day while weakness in the dollar late in the day may have helped provide some support. March silver followed gold lower early in the session but was able to hold shallow support. The set-back left the market with gains of near 36 cents for the week. Volume was light as a weakening dollar and strong gains in other commodity markets and solid gains in the stock market for the week helped support.”- The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
GATA press release about campaign to wrest gold info from U.S. govt. Britain's rate cut opens gulf with European Central Bank Market fears Bank of England has lost control of rates GATA begins campaign to wrest documents from Fed, Treasury The Statistics: As of close of business: 12/6/2007 Gold Warehouse Stocks: | 7,366,099 | -23,925 | Silver Warehouse Stocks: | 133,934,752 | -137,609 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 602.37 | 19,366,954 | US$ 15,521m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 96.42 | 3,100,094 | US$ 2,462m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 16.07 | 516,252 | US$ 410m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 20.29 | 652,220 | US$ 522m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SGX added 0.92 tonnes. COMEX Gold Trust (IAU) Profile as of 12/6/2007 | | Total Net Assets | $1,394,147,750 | Ounces of Gold
in Trust | 1,740,187.247 | Shares Outstanding | 17,600,000 | Tonnes of Gold
in Trust | 54.13 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 12/6/2007 | | Total Net Assets | $2,064,307,542 | Ounces of Silver
in Trust | 146,833,360.500 | Shares Outstanding | 14,800,000 | Tonnes of Silver
in Trust | 4,567.03 |
Note: Change in Total Tonnes from yesterday’s data: 46.29 tonnes were added to the trust. The Stocks: Gold Fields’ (GFI) filed 20-F, Tanzanian Royalty’s (TRE) changes in management structure to fast tack exploration, and Golden Star’s (GSS) exploration update were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Entree | EGI +7.20% $2.68 | 2. Ivanhoe | IVN+5.72% $11.64 | 3. Gammon | GRS+5.26% $8.00 |
LOSERS 1. Allied Nevada | ANV -7.12% $6.26 | 2. AngloGold | AU -5.15% $44.02 | 3. Gold Fields | GFI -4.41% $15.62 |
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: Gold Fields Announces Form 20-F Filing - "Gold Fields Limited (Gold Fields) (NYSE, JSE, DIFX: GFI) today announced that it has filed its annual report on Form 20-F for the year ended 30 June 2007 with the U.S. Securities and Exchange Commission. The document can be accessed on the Gold Fields website:" More
- December 07, 2007 | Item | E-mail
Constellation Copper Corporation Provides Default Status Report - More
- December 07, 2007 | Item | E-mail
Freewest Resources Announces Private Placement for a Maximum of $800,000 - More
- December 07, 2007 | Item | E-mail
Sherwood Reports Groundwork has Commenced on Carmacks to Stewart Transmission Line - More
- December 07, 2007 | Item | E-mail
Tanzanian Royalty Announces Changes to Management Structure in Tanzania to Fast Track Exploration at Kigosi - "The Company's President, John Deane, will now focus his exploration talents exclusively on Kigosi which recently returned the highest grade gold values ever reported from the property. (See November 26, 2007 News Release)." More
- December 07, 2007 | Item | E-mail
Champion Minerals lists on the TSX Venture Exchange - More
- December 07, 2007 | Item | E-mail
Windfall Lake Gold Project Update - More
- December 07, 2007 | Item | E-mail
Possible Sale of Anooraq Shares to a Strategic Investor in Order to Finance the Exercise of BEE Warrants - More
- December 07, 2007 | Item | E-mail
Uranium Hunter Awaits Release of Uganda Aerial Identification Survey - More
- December 07, 2007 | Item | E-mail
First Gold Closes a $200,000 Private Placement With MineralFields for Exploration on Croinor Project - More
- December 07, 2007 | Item | E-mail
Western Warrior completes private placement of $1 million equity offering - More
- December 07, 2007 | Item | E-mail
Pediment Exploration Ltd.: Core Drill Added to San Antonio Program - More
- December 07, 2007 | Item | E-mail
Carlisle Goldfields Limited Closes Private Placement Financing with the Mineralfields Group - More
- December 07, 2007 | Item | E-mail
Azimut and Everton plan a winter drill program at Opinaca - More
- December 07, 2007 | Item | E-mail
U.S. Precious Metals Adds New Member to Board of Directors - More
- December 07, 2007 | Item | E-mail
EurOmax intersects 152 metres of 0.60% copper equivalent at Rudnitza - More
- December 07, 2007 | Item | E-mail
Consolidated Goldfields Corporation and Teras Resources, Inc. Extend Letter Of Intent - More
- December 07, 2007 | Item | E-mail
Mediterranean confirms presence of high grade mineralization at Corak - More
- December 07, 2007 | Item | E-mail
Ruby Red Resources grants stock options - More
- December 07, 2007 | Item | E-mail
Paragon Minerals Resumes Drilling at South Tally Pond Project - More
- December 07, 2007 | Item | E-mail
Carpathian Gold Adds Second Major Exploration/Development Platform With the Acquisition of the Riacho Dos Machados Gold Project, Brazil - More
- December 07, 2007 | Item | E-mail
Redcorp Ventures Ltd.: Tulsequah Chief Mine Project Receives Cutting Permit for Site Construction - More
- December 07, 2007 | Item | E-mail
Monroe Minerals third quarter 2007 results and activity update - More
- December 07, 2007 | Item | E-mail
Nithi Mountain Drill Program - More
- December 07, 2007 | Item | E-mail
Geodex Increases its Interest in Sisson Brook - Announces Acquisition of Controlling Interest in Champlain Resources Inc. and Private Placement Financing - More
- December 07, 2007 | Item | E-mail
Everton and Azimut Plan a Winter Drill Program at Opinaca - More
- December 07, 2007 | Item | E-mail
Canasia Announces Private Placement Financing with MineralFields Group - More
- December 07, 2007 | Item | E-mail
Golden Star Confirms Extensions to Benso Gold Deposit - "Results received from the 3,418 meters of combined Reverse Circulation (“RC”) and Diamond Drilling (“DD”) have been positive and Golden Star expects that a portion of the Inferred Mineral Resource below the current pit designs will be converted into Indicated Mineral Resources and may subsequently be converted into Mineral Reserves." More
- December 07, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2007 Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted Friday, 7 December 2007 | Digg This Article | Source: GoldSeek.com
Previous Articles by Chris Mullen, Gold-Seeker.com
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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 1% and 2% on the Week
