-- Posted Monday, 4 May 2009 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $900.95 | +$14.00 |
Silver | $13.06 | +$0.56 |
XAU | 127.89 | +6.19% |
HUI | 320.85 | +6.47% |
GDM | 963.80 | +5.71% |
JSE Gold | 2241.50 | +55.74 |
USD | 83.84 | -0.76 |
Euro | 134.05 | +1.44 |
Yen | 101.10 | +0.30 |
Oil | $54.47 | +$1.27 |
10-Year | 3.157% | -0.017 |
T-Bond | 122.515625 | +0.359375 |
Dow | 8426.74 | +2.61% |
Nasdaq | 1763.56 | +2.58% |
S&P | 907.24 | +3.39% |
The Metals:
Gold and silver traded modestly higher in Asia and London before they fell back to about unchanged at $888.18 and $12.462 in early New York trade, but both metals then exploded higher just after the US stock markets opened at 9:30AM EST and gold ended near its high of $906.90 with a gain of 1.58% while silver ended near its high of $13.14 with a gain of 4.48%.
Euro gold rose to about €673, platinum gained $27 to $1115, and copper gained over 4 cents to about $2.14.
Gold and silver equities rose throughout the day and ended at or near their highs of the session with about 6% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Construction Spending | March | 0.3% | -1.6% | -1.0% |
Pending Home Sales | March | 3.2% | 0.0% | 2.0% |
Tomorrow at 10AM EST brings ISM Services for April expected at 42.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed back above $54 to it highest close this year and the U.S. dollar index and treasuries fell as better than expected economic data encouraged traders to put some cash to work and the Dow, Nasdaq, and S&P rose roughly 3% as a result.
Among the big names making news in the market today were Estee Lauder, GM, Filene’s Basement, Sprint Nextel, DirecTV and Liberty Media, Tyson, and Pepsi Bottling and PepsiCo.
The Commentary:
“June Gold closed up 14 at 902.2. This was 13.6 up from the low and 6.1 off the high.
May Silver finished up 0.613 at 13.093, 0.037 off the high and 0.628 up from the low.
With a big range up move on Monday morning the gold trade seems to have de-linked with the flight to quality theme and instead hitched its wagon to growth and perhaps even inflation. Clearly the US economic readings on Monday morning were stronger than expected but it might be premature to suggest that the market is poised to embrace inflation, especially with the bank stress tests directly ahead and the ultra critical US Non Farm payroll report on Friday morning. However, seeing better growth readings, positive leadership from the equity markets and a reversal in the Dollar certainly gave the gold bulls a number of themes to embrace. Some players suggested that part of the buying was short covering by those who saw the swine flu situation coming under control.
Like the gold market, the silver market seemed to be catching a lift off revived recovery hopes. Clearly seeing a much better than expected sweep of US scheduled data and another round of new highs for the move in the stock market, gave physical silver players some added confidence. While others suggested that silver caught some inflation inspired buying, that reasoning might be a bit premature, but not out of bounds especially when one considers the type of buying being seen in copper, heating oil and natural gas on Monday. Some traders suggested the magnitude of the gains themselves prompted some classic technical stop loss buying interest.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
More notice for gold suppression scheme and GATA
China has 'canceled U.S. credit card,' congressman says
James Turk: A short history of the gold cartel
MineWeb: Warren Buffet's good news for gold
With credit default swaps, banks do better if borrowers fail
The Statistics:
As of close of business: 5/04/2009
Gold Warehouse Stocks: | 8,489,384 | -96 |
Silver Warehouse Stocks: | 116,718,340 | -92,102 |
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) AND Tokyo Stock Exchage (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,104.45 | 35,509,158 | US$ 31,397m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 132.10 | 4,247,028 | US$ 3,828m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.40 | 430,039 | US$ 388m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 28.36 | 911,754 | US$ 806m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 5/1/2009 | |
Total Net Assets | $1,950,381,169 | Ounces of Gold
in Trust | 2,198,111.462 |
Shares Outstanding | 22,350,000 | Tonnes of Gold
in Trust | 68.37 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 5/1/2009 | |
Total Net Assets | $3,284,952,852 | Ounces of Silver
in Trust | 270,484,574.500 |
Shares Outstanding | 274,450,000 | Tonnes of Silver
in Trust | 8,413.01 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
Upcoming earnings reports from the South African gold producers, Golden Star’s (GSS) revolving loan facility, Barrick’s (ABX) gold pour at Buzwagi, Banro’s (BAA) exploration results, Fronteer’s (FRG) processing options, Paramount’s (PZG) Deutsche Bourse listing, Scorpio’s (SPM.TO) and Pan American’s (PAAS) suspended operations in Mexico, and ECU Silver’s (ECU.TO) shareholder rights plan were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Coeur | CDE +14.38% $1.67 |
2. Northgate | NXG+11.49% $1.65 |
3. Allied Nevada | ANV +11.32% $6.00 |
LOSERS
1. Mines MGMT | MGN -1.27% $1.55 |
2. Western Goldfields | WGW -0.53% $1.87 |
3. Vista Gold | VGZ -0.48% $2.09 |
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:
Dumont expands its Advisory Committee and presents at SaskROCKS Conference on May 9, 2009 - More
- May 04, 2009 | Item | E-mail
Iberian Reports Q1 Condestable Operating Results, Aguas Tenidas and Hedging Update, and Issues 2009/2010 Guidance - More
- May 04, 2009 | Item | E-mail
Golden Goose Resources Inc. announces the grant of stock options - More
- May 04, 2009 | Item | E-mail
Bayswater Completes Sale of Gold Mineral Interests in Italy - More
- May 04, 2009 | Item | E-mail
Golden Predator Royalty & Development Corp. to Acquire Precious Metals Projects in the Tintina Gold Belt - More
- May 04, 2009 | Item | E-mail
Evolving Gold Raises $900,000 Through Warrant Exercises, Dr. William F. Lindqvist Appointed to EVG Board - More
- May 04, 2009 | Item | E-mail
Scorpio Provides Update Following Mexican Government Directive - "Scorpio Mining Corporation (TSX: SPM - News) reports it has suspended operations at its Nuestra Senora mine, Sinaloa State, Mexico, and plans to restart on May 6, 2009. The temporary suspension is in support of the Mexican presidential decree aimed to prevent the spread of the H1N1, or swine flu virus." More
- May 04, 2009 | Item | E-mail
TVI Pacific announces second shipment of copper concentrates produced at Canatuan - More
- May 04, 2009 | Item | E-mail
Kilo Goldmines Ltd. Announces Excellent Gold Geochemical Results - More
- May 04, 2009 | Item | E-mail
Nortec announces closing of the 10 million unit Private Placement - More
- May 04, 2009 | Item | E-mail
Molycorp Minerals Funds Phase II of Full Restart Plan - More
- May 04, 2009 | Item | E-mail
Milner Announces Grant of New Stock Options Under Existing Plan - More
- May 04, 2009 | Item | E-mail
Goldcorp Declares Fifth Monthly Dividend Payment for 2009 - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) is pleased to declare its fifth monthly dividend payment for 2009 of $0.015 per share. Shareholders of record at the close of business on Thursday, May 14, 2009 will be entitled to receive payment of this dividend on Friday, May 22, 2009. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends." More
- May 04, 2009 | Item | E-mail
Amex Exploration Announces Warrant Term Extension - More
- May 04, 2009 | Item | E-mail
Hawk Uranium Inc.-Holdsworth Gold Project: Preliminary Metallurgical Results; Black Sand Gold/Silver Deposit - More
- May 04, 2009 | Item | E-mail
New Jersey Mining Company Announces Drilling to Start At Toboggan Project - More
- May 04, 2009 | Item | E-mail
Firstgold Provides Strategic Review Update - More
- May 04, 2009 | Item | E-mail
Nortec Ventures retains Renmark Financial for Investor and Media Relations - More
- May 04, 2009 | Item | E-mail
Plexmar Resources Inc.: Projects Update - More
- May 04, 2009 | Item | E-mail
El Nino Ventures announces: Non-Brokered Private Placement, Update on the Democratic Republic of Congo ("DRC") Projects, Appointment of CFO - More
- May 04, 2009 | Item | E-mail
GoldSpring Announces Reporting Date for Its Mineable Gold and Silver Reserves - More
- May 04, 2009 | Item | E-mail
Colombia Goldfields Provides First Quarter 2009 Financial Results - More
- May 04, 2009 | Item | E-mail
Hawthorne Gold Retains Vantage Communications - More
- May 04, 2009 | Item | E-mail
Premier assays confirm high grade PQ-North gold discoveries - More
- May 04, 2009 | Item | E-mail
Further Expansion of Gold Discovery at Columbus Project Reported By Ireland Inc. - More
- May 04, 2009 | Item | E-mail
Jerritt Canyon results continue to expand its resource as reported by Yukon-Nevada Gold Corp. - More
- May 04, 2009 | Item | E-mail
Everton and Linear Gold Granted Renewal of Key Concession Adjacent to World-Class Pueblo Viejo Mine, Dominican Republic - More
- May 04, 2009 | Item | E-mail
Wesdome - Record first quarter production tops 27,000 ounces - More
- May 04, 2009 | Item | E-mail
Skygold Provides a Corporate Update - More
- May 04, 2009 | Item | E-mail
Mining Cancels Agreement With AusCan Gold - More
- May 04, 2009 | Item | E-mail
Great Western Minerals Group Ltd. Terminates Exclusivity Provisions - More
- May 04, 2009 | Item | E-mail
Conway Resources Inc. Announces its Drill Results for the Belleterre Mine - More
- May 04, 2009 | Item | E-mail
New Dawn's Turk Mine in Zimbabwe Resumes Full-Scale Mine Operating Program - More
- May 04, 2009 | Item | E-mail
Douglas Lake Minerals Inc. Addresses Canadian Technical Information Disclosure With the British Columbia Securities Commission - More
- May 04, 2009 | Item | E-mail
Frontera to De-List Common Shares From TSX - More
- May 04, 2009 | Item | E-mail
Continental Adopts Shareholder Rights Plan - More
- May 04, 2009 | Item | E-mail
Zincore Annual General and Special Meeting Rescheduled - More
- May 04, 2009 | Item | E-mail
USPR Announces Results From Drill Hole #11 - More
- May 04, 2009 | Item | E-mail
Impala Mineral Exploration Announces Acquisition of Busolwa Gold Property in Tanzania's Lake Victoria Greenstone Belt - Home to Two World-Class Gold Mines - More
- May 04, 2009 | Item | E-mail
Northern Superior Announces Annual Meeting Details and Reviews Gold Properties - More
- May 04, 2009 | Item | E-mail
Goldstake Provides Second Default Status Report and Obtains Extension on Clay Property - More
- May 04, 2009 | Item | E-mail
Dia Bras Announces Management Cease Trade Order - More
- May 04, 2009 | Item | E-mail
Gryphon Resources Announces Acquisition Program - More
- May 04, 2009 | Item | E-mail
Pan American Silver Complies With Mexican Federal Decree Regarding Influenza - "Pan American Silver Corp. (Toronto:PAA.TO - News)(NasdaqGS:PAAS - News) (the "Company" or "Pan American") today announced that in accordance with the Mexican Federal Decree (the "Decree") published last Thursday, April 30th, it temporarily suspended operations at its Mexican mines (La Colorada and Alamo Dorado). Pursuant to the Decree, all business activities that were deemed non-essential to fight the influenza outbreak in Mexico were ordered to cease from May 1st to May 5th." More
- May 04, 2009 | Item | E-mail
Golden Star Announces Agreement for Revolving Loan Facility - "Golden Star Resources Ltd. (NYSE Amex: GSS)(TSX: GSC - News)(GSE: GSR) today announced it has signed an agreement for a revolving credit facility (the “Facility”) with Standard Chartered Bank. All currency in this news release is expressed in U.S. dollars, unless otherwise noted." More
- May 04, 2009 | Item | E-mail
Barrick Pours First Gold at Buzwagi - "Barrick Gold Corporation (NYSE:ABX - News)(Toronto:ABX.TO - News) announced today the first gold pour at its Buzwagi mine in Tanzania. In 2009, Buzwagi is expected to produce approximately 200,000 ounces of gold at total cash costs of $320-$335 per ounce. In production, the mine will be one of the country's largest mining operations. Buzwagi is the sixth Barrick project brought into production on time in the last six years." More
- May 04, 2009 | Item | E-mail
Banro reports highly promising results from initial exploration of the Kaziba discovery at its wholly-owned Twangiza gold project - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to announce results of the first phase of exploration at the newly-discovered Kaziba Prospect, located on Banro's wholly-owned Twangiza project on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC"). This work has included geological mapping, soil sampling, and rock chip sampling of artisanal workings and outcrops." More
- May 04, 2009 | Item | E-mail
ECU Silver Adopts Shareholder Rights Plan - "ECU Silver Mining Inc. ("ECU Silver" or the "Company") (TSX:ECU - News) announced today that its Board of Directors has adopted a shareholder rights plan (the "Rights Plan"). The Rights Plan, which took effect May 1, 2009, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company's common shares." More
- May 04, 2009 | Item | E-mail
Fronteer Development Group Inc.: Northumberland Metallurgical Program to Test Identified Processing Options - "Fronteer Development Group Inc. (Toronto:FRG.TO - News)(AMEX:FRG - News) is pleased to announce completion of a comprehensive metallurgical review of the Northumberland gold deposit and the commencement of Phase 1 metallurgical testing." More
- May 04, 2009 | Item | E-mail
Paramount Gold and Silver Corp. listing with Deutsche Borse - "Paramount Gold and Silver Corp. (AMEX:PZG - News)(Toronto:PZG.TO - News)(Frankfurt:P6G.F - News)(WKN: A0HGKQ) advises that its common shares will be listed for trading on the Frankfurt Stock Exchange within the Open Market (Entry Standard) effective today. F.I.B Frankfurter Investmentbank AG acted as applicant to the exchange on behalf of Paramount." More
- May 04, 2009 | Item | E-mail
Gold price to boost SAfrica gold producers profits - "Africa's top three gold producers are expected to report big jumps in earnings and cash flow for their quarters to March, largely boosted by a stronger gold price, which outweighed lower output and higher costs." More
- May 04, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted Monday, 4 May 2009 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold Gains Nearly 2% and Silver Adds More Than 4%
