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-- Posted Wednesday, 6 February 2008 | Digg This Article | Source: GoldSeek.com
| Close | Gain/Loss | Gold | $900.50 | +$13.90 | Silver | $16.51 | +$0.20 | XAU | 174.96 | +1.00% | HUI | 429.73 | +1.10% | GDM | 1295.59 | +1.06% | JSE Gold | 2458.63 | +77.22 | USD | 76.71 | +0.05 | Euro | 146.37 | -0.20 | Yen | 93.86 | +0.32 | Oil | $87.14 | -$1.27 | 10-Year | 3.614% | +0.027 | T-Bond | 119.375 | -0.40625 | Dow | 12200.10 | -0.53% | Nasdaq | 2278.75 | -1.33% | S&P | 1326.45 | -0.76% |
The Metals:  Gold fell just slightly by late trade in Asia to $885.70, rose throughout trade in London and morning New York action, and climbed to as high $907.45 before it fell back near $900 in afternoon trade, but it still ended with a gain of 1.57%. Silver fell to $16.18 and rose to $16.63 before it also came back off a bit in the last couple of hours of trade, but it still ended with a gain of 1.23%.
Euro gold rose back above €615, platinum gained $35 to $1811 to a new record high, palladium gained $1 to $417, and copper rose nearly 10 cents to about $3.30. Gold and silver equities rose over 3% by late morning before they fell back off in afternoon trade along with the major indices, but they still ended with over 1% gains. The Economy: Report | For | Reading | Expected | Previous | Productivity | Q4 | 1.8% | 0.5% | 6.0% |
The fed’s Plosser reminded the markets early this afternoon that the fed’s other mandate of price stability must not be ignored and inflation indicators need to be closely watched. This was interpreted by many to mean that the street should not assume the fed will continue to cut interest rates as they remain data dependent and there is still plenty of data to come out between now and the fed’s next meeting in March. Tomorrow at 8:30AM EST brings Initial Jobless Claims for 2/02 expected at 340,000. At 10AM is the Pending Home Sales report for December and at 3PM is Consumer Credit for December expected at $8.0 billion. 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 back near $87 as inventory reports came in better than expected. Crude inventories built 7 million barrels, gasoline inventories built 3.6 million barrels, and distillates rose 100,000 barrels. The U.S. dollar index remained near unchanged as traders waited for the European Central Bank’s decision on interest rates tomorrow. Treasuries fell on profit taking with yields sitting near four year lows, but losses moderated after a $13 billion 10-year note auction drew decent demand with a yield of 3.62%. The Dow, Nasdaq, and S&P rebounded from yesterday’s significant losses in morning trade on the better than expected Productivity report, but they then fell back off in afternoon trade and closed near their lows of the session with roughly 1% losses after Plosser’s comments spooked some about the future of the fed funds rate. Among the big names making news in the market today were Toll, IAC, Warner Music, and Disney. The Commentary: GATA Posts: 
Dominic Frisby: Is the gold price really being manipulated? The Statistics: As of close of business: 2/5/2008 Gold Warehouse Stocks: | 7,637,696 | +49,724 | Silver Warehouse Stocks: | 134,785,634 | -628,099 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) | StreetTRACKS Gold Shares | 631.15 | 20,292,100 | US$ 18,008m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 105.19 | 3,382,059 | US$ 3,052m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 17.64 | 566,891 | US$ 512m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 27.64 | 888,664 | US$ 788m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 2/5/2008 | | Total Net Assets | $1,706,853,084 | Ounces of Gold
in Trust | 1,926,796.406 | Shares Outstanding | 19,500,000 | Tonnes of Gold
in Trust | 59.93 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 2/5/2008 | | Total Net Assets | $2,708,520,296 | Ounces of Silver
in Trust | 164,064,898.000 | Shares Outstanding | 16,550,000 | Tonnes of Silver
in Trust | 5,102.99 |
Note: Change in Total Tonnes from yesterday’s data: 15.41 tonnes were subtracted from the trust. The Stocks: BHP Billiton’s sweetened but hostile $147.4 billion bid for Rio Tinto, Anatolia’s (ANO.TO) scoping study, Minco Gold’s (MGH) retained IR firm, Taseko’s (TGB) expansion update, Canyon’s (CAU) new mine study, IAMGOLD’s (IAG) $18.4 million cost improvement program, Banro’s (BAA) partner for sustainable community, Fronteer’s (FRG) realigned partnership with Newmont, and Fortuna’s (FVI.V) new VP appointment were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Vista Gold | VGZ +8.93% $5.00 | 2. Gold Reserve | GRZ +5.41% $5.46 | 3. Exeter | XRA +4.27% $4.15 |
LOSERS 1. Cardero | CDY -8.85% $1.03 | 2. Solitario | XPL -5.37% $5.46 | 3. Metalline | MMG-4.69% $2.03 |
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: Keegan Announces Grant of Stock Options - More
- February 06, 2008 | Item | E-mail
Anatolia Files Sulfide Scoping Study for 2.3 Million Ounces at Copler Gold Project - "Anatolia Minerals Development Limited ("Anatolia") (Toronto:ANO.TO - News) has filed on SEDAR (www.sedar.com) the Preliminary Assessment Sulfide Ore Processing Technical Report under National Instrument 43-101 ("Sulfide Scoping Study") for its 100%-owned Copler Gold Project in Turkey." More
- February 06, 2008 | Item | E-mail
Minco Gold Corporation Retains Rubenstein Investor Relations - "Minco Gold Corporation (the "Company" or "Minco Gold") (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News), a mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties in China, announced that it has retained New York based Rubenstein Investor Relations (RIR) to help raise awareness within the investment community of the Company's exceptional portfolio of high-quality advanced and exploration stage properties operating in China." More
- February 06, 2008 | Item | E-mail
Another small miner, Andean American lists in Peru - More
- February 06, 2008 | Item | E-mail
Taseko Mines Limited: Gibraltar Concentrator Expansion Update - "The Semi-Autogeneous Grinding Mill ("SAG mill") and its Ancillary operating components were released from the construction group to Gibraltar's mill operations team December 27, 2007. Over the past 4 weeks, conversion work on the secondary grinding system has been completed ahead of schedule. As of February 1st, the Gibraltar concentrator facility has achieved the engineering designed milling rates expected from the SAG mill." More
- February 06, 2008 | Item | E-mail
Yale Identifies Significant New Gold-Silver Mineralization at the Urique Project, Mexico - More
- February 06, 2008 | Item | E-mail
Ucore Uranium Reports 15.2 Meters Grading 0.42% U3O8 from Bokan Mountain - More
- February 06, 2008 | Item | E-mail
Uranium 308 Corp. Acquires 10% Ownership of Mongolia Metals Limited; Subsidiary of Uranium 308 Corp. to Receive 1% Ownership of Hong Kong Mongolia Metals Ltd. - More
- February 06, 2008 | Item | E-mail
Acero-Martin Announces Changes to Board of Directors - More
- February 06, 2008 | Item | E-mail
Uranium Energy Corp Adds Two Industry Professionals to Its Advisory Board, Appoints Ed Brezinski as VP, Corporate Development - More
- February 06, 2008 | Item | E-mail
Fortune Minerals announces improved flotation recoveries from Nico Pilot Plant - More
- February 06, 2008 | Item | E-mail
Pro-Or Inc.: The Extraction Plant of St-Augustin Now Operational - More
- February 06, 2008 | Item | E-mail |
Gold Seeker Closing Report: Gold and Silver Gain Over 1% While Dow Erases Early Gains