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-- Posted Monday, 14 April 2008 | Digg This Article | Source: GoldSeek.com
| Close | Gain/Loss | Gold | $925.45 | +$1.60 | Silver | $17.77 | +$0.10 | XAU | 182.18 | +0.27% | HUI | 446.03 | +0.61% | GDM | 1338.37 | +0.37% | JSE Gold | 2537.30 | +13.52 | USD | 71.85 | +0.07 | Euro | 158.19 | +0.02 | Yen | 98.97 | -0.11 | Oil | $111.76 | +$1.62 | 10-Year | 3.503% | +0.032 | T-Bond | 119.265625 | -0.40625 | Dow | 12302.06 | -0.19% | Nasdaq | 2275.82 | -0.63% | S&P | 1328.32 | -0.34% |
The Metals:  Gold fell to $914.10 in Asia and rose to $931.82 by about 10:30AM EST in New York before it fell back off a bit in the last few hours of trade, but it still ended with a gain of 0.17%. Silver fell to $17.245 and rose to $17.87 before it closed with a gain of 0.57%.
Euro gold remained at about €585, platinum lost $39.50 to $1960, and copper fell nearly 5 cents to about $3.92. Gold and silver equities traded slightly higher for most of the day and ended with minor gains. The Economy: Report | For | Reading | Expected | Previous | Retail Sales | Mar | 0.2% | 0.0% | -0.4% | Retail Sales ex-auto | Mar | 0.1% | 0.1% | -0.1% | Business Inventories | Feb | 0.6% | 0.6% | 0.9% |
Tomorrow at 8:30AM EST brings PPI for March expected at 0.6%, Core PPI expected at 0.2%, and the NY Empire State Index for April expected at -17.0. At 9AM is the Net Foreign Purchases report for February expected at $60.0B. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose to a new record closing high on supply disruptions caused by sabotage in Nigeria and a temporary pipeline shutdown in the U.S. The U.S. dollar index fell and treasuries rose in early trade on worries over a recession in the U.S. as Wachovia reported a surprising loss due to troubles in the mortgage industry, but the dollar ended marginally higher and bonds fell by the end of trade as Retail Sales came in better than expected and pushed interest rates higher. The Dow, Nasdaq, and S&P traded mixed and near unchanged as traders debated better than expected Retail Sales versus a surprising loss from Wachovia, but all three indices did end with slight losses on the day. Among the big names making news in the market today were Wachovia, Delta and Northwest, Manitowoc and Enodis, Blockbuster and Circuit City, GE, and Eaton. The Commentary:  “June Gold finished up 1.7 at 928.7, 5.8 off the high and 1.7 up from the low.
May Silver closed up 0.1 at 17.79. This was 0.09 up from the low and 0.07 off the high. The gold market waffled around both sides of unchanged on Monday, with the initial scheduled reports prompting a decline in gold prices in the wake of a fleeting bounce in the Dollar. However, the gold market quickly shrugged off the post report reaction in the Dollar and instead seemed to gain favor in the wake of a recovery in oil prices. In fact, the action Monday highlighted the gold market's recent tight correlation with the energy complex. In the end, seeing a slightly weaker US Dollar and a better than expected US retail sales report was the "best of two world's" for the gold bulls. The silver market saw some aggressive early pressure in the wake of the first round of scheduled US reports which wasn't surprising in the face of the US Dollar bounce. However, even with the Dollar maintaining a large portion of its post report bounce, the silver market still managed to recover and in the prospect it eventually managed to forge a new high for the move. Furthermore, the ability of the silver market to hold a mid morning bounce was especially surprising considering that both copper and platinum prices were under moderately aggressive pressure throughout the trading session. In short, silver continued to track with gold prices instead of the base or industrial metals markets.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:  G-7 may have to do more than talk to stop dollar's slide James Turk: The dollar hasn't bounced John Browne: Gold might be shaking off central bank shackles Weak dollar caused oil's rise, OPEC president says Chavez says IMF is selling gold cheap GATA presses gold issues in Washington No co-ordinated intervention seen in G7 reforms John Embry: Central banks face Custer's Last Stand with gold The Statistics: As of close of business: 4/11/2008 Gold Warehouse Stocks: | 7,636,723 | +10,597 | Silver Warehouse Stocks: | 136,227,047 | +598,471 |
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 | 641.82 | 20,635,087 | US$ 19,141m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 114.05 | 3,666,905 | US$ 3,390m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 20.62 | 662,569 | US$ 613m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 26.88 | 864,350 | US$ 801m |
Note: Change in Total Tonnes from yesterday’s data: The JSE subtracted 1.11 tonnes. COMEX Gold Trust (IAU) Profile as of 4/11/2008 | | Total Net Assets | $1,901,298,257 | Ounces of Gold
in Trust | 2,058,818.136 | Shares Outstanding | 20,850,000 | Tonnes of Gold
in Trust | 64.04 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 4/11/2008 | | Total Net Assets | $3,315,396,897 | Ounces of Silver
in Trust | 184,728,713.100 | Shares Outstanding | 18,650,000 | Tonnes of Silver
in Trust | 5,745.71 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Almaden’s (AAU) drill results, Freeport-McMoRan’s (FCX) lawsuit and reduced maximum ore production at the Grasberg mine, ITH’s (THM) drill results, Rubicon’s (RBY) drill results, Coeur’s (CDE) MOU for marine transportation, and Arian’s (AGQ.V) drill results were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Rubicon | RBY +13.73% $1.49 | 2. Mines MGMT | MGN +4.56% $3.67 | 3. Golden Star | GSS +3.98% $3.66 |
LOSERS 1. Orezone | OZN -7.19% $1.29 | 2. Great Basin | GBN -6.42% $3.35 | 3. Alexco | AXU -4.88% $4.09 |
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: Silvermet Inc.: Clarification of Press Release Dated April 8, 2008 - More
- April 14, 2008 | Item | E-mail
Moss Lake Gold Mines Ltd. - Drilling accelerates, second rig arrives - More
- April 14, 2008 | Item | E-mail
CanAlaska Uranium Ltd. non-brokered private placement - More
- April 14, 2008 | Item | E-mail
Winter Drill Program on Viking Yellowknife Joint Venture Property Successfully Completed - More
- April 14, 2008 | Item | E-mail
Geneva Resources, Inc. Agrees to Settlement Release in Arbitration Dispute With Petaquilla Minerals Ltd. - More
- April 14, 2008 | Item | E-mail
Hawk Engages Corinna de Beer as IR Consultant; Terminates Agreement with Agoracom; Lists on Frankfurt Stock Exchange - More
- April 14, 2008 | Item | E-mail
Teck to buy Global Copper for rich Chile deposit - "Teck Cominco Ltd (TCKb.TO: Quote, Profile, Research) will buy Global Copper Corp (GLQ.TO: Quote, Profile, Research) in order to obtain the coveted Relincho copper-molybdenum deposit in Chile, and will spin off the rest of the junior miner as a new company, the two Canadian firms said on Monday." More
- April 14, 2008 | Item | E-mail
Almaden Minerals Ltd.: 82.3 Meters Grading 1.08 g/t Gold Intersected at Caballo Blanco Project, Mexico - "Almaden Minerals Ltd. ("Almaden", "the Company") (Toronto:AMM.TO - News)(AMEX:AAU - News) is pleased to report that it has received the remaining assay results from core hole 07CBN-002 and all of 08CBN-003 from operating partner Canadian Gold Hunter Corp. ("CGH")(Toronto:CGH.TO - News) the second and third diamond-drill holes CGH have completed at the Caballo Blanco project in Veracruz, Mexico." More
- April 14, 2008 | Item | E-mail
Sinosteel and Ditem Sign LOI for Joint Exploration Activites in Canada - More
- April 14, 2008 | Item | E-mail
Nix, Patterson & Roach LLP Files Class Action Lawsuit against Mining Giant Freeport-McMoRan - "Nix, Patterson & Roach LLP, a nationally recognized plaintiffs’ law firm, filed a major class action lawsuit today in Kay County, Oklahoma, on behalf of roughly 7,000 residents of the town of Blackwell, Oklahoma. The lawsuit accuses defendants Phelps Dodge Corporation and its parent company, Freeport-McMoRan Copper & Gold, Inc., of failing to properly address lead, arsenic, and cadmium contamination in the Blackwell area." More
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Gold Seeker Closing Report: Gold and Silver End Slightly Higher