-- Posted Wednesday, 14 October 2009 | Digg This Article | | Source: GoldSeek.com

The Metals:

Gold struck a new all-time high of $1070.40 in Asia before it fell back off in London to as low as $1055.40 by about 8AM EST, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.02%.  Silver rose to $18.09 and fell to $17.69 before it also rallied back higher and ended with a gain of 0.28%.

Euro gold fell to about €713, platinum gained $2 to $1354, and copper rose over 4 cents to about $2.83.

Gold and silver equities traded mixed and near unchanged and ended with slight losses.

The Economy:

FOMC Minutes showed that some fed members “were open last month to boosting the central bank’s $1.25 trillion mortgage-backed securities purchase program to stimulate the economy amid concerns the recovery may fade.” 

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 10/10 expected at 525,000, CPI for September expected at 0.2%, and Core CPI expected at 0.1%.  At 10AM is the Philadelphia Fed survey for October expected at 12.3.

The Markets:

Charts Courtesy of http://finance.yahoo.com/

Oil rose to its highest this year above $75 while the U.S. dollar index and treasuries fell markedly on stronger than expected earnings reports that sent the Dow, Nasdaq, and S&P over 1% higher on the day.

Among the big names making news in the market today were Intel, Bloomberg and McGraw-Hill, JPMorgan, Abbott, and Progressive.

The Commentary:

“Dear Friends,

This evening in Asian trade, the Japanese Minister of Finance once again restated the new view out of Japan that the level of the Yen is no longer an obsession with the monetary authorities of that nation. His comments were interpreted by the Forex markets that intervention to stem the advance of the Yen is most unlikely. With that, market participants wasted little time bidding the Yen into a strong advance.

Those statements of his, combined with that of Federal Reserve Vice Chairman, Donald Kohn, that the US economy would not experience a quick or sharp recovery out of its recession, were both read by traders that US interest rates were not going anywhere anytime soon. Carry traders then beat the Dollar down below critical support near the 76 level on the USDX as they rushed into higher yielding currencies such as the Aussie and Loonie. The Euro also shot up to another new yearly high.

It is looking more and more like the current Administration has set on a course of deliberate destruction of the US Dollar and with it, the economic might that the US has enjoyed since post World War II. As said many times on the pages of this web site, the profligacy of the US has inescapable consequences and we are now seeing a rapid acceleration of the same. The fall in the Dollar is picking up momentum and that is why we are witnessing gold moving into new highs.

But gold is more than a Dollar phenomenon – Gold priced in terms of British Pounds and in Euros is relentlessly moving higher as both Great Britain and Europe, the fading West, are debasing their currencies as well.

Protect yourself from the theft of your wealth by these conscienceless politicians and monetary officials for they have sold their citizenry down the river and plundered them in the process far more thoroughly than Attila and his army of Huns ever did to Rome of old. At least the Roman inhabitants were aware of the rape and pillaging of their substance – when the general public finally awakens to the despicable looting of their treasures by these reeking buzzards, they will rush into gold with a fury that will shock even many of the readers of this site.”- Dan Norcini, More at JSMineset.com

GATA Posts:

Market analyst Hutchinson acknowledges gold suppression

Who can refute Ned Schmidt's sneer?

Reporting from New Orleans, Calandra cites GATA and Wits Gold

The Statistics:

Activity from: 10/12/2009

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.12 tonnes.

COMEX Gold Trust (IAU)

 Note: Change in Total Tonnes from yesterday’s data: 0.72 tonnes were added to the trust.

Silver Trust (SLV)

 Note: No change in Total Tonnes from yesterday’s data.

The Miners:

Ivanhoe’s (IVN) conference call, Orezone’s (OZN) test results, US Gold’s (UXG) drill results, Claude’s (CGR) completed drilling, Seabridge’s (SA) drill results, Great Basin’s (GBG) construction approval, Aurcana’s (AUN.V) project sale, Excellon’s (EXN.TO) assay results, Fresnillo’s (FRES.L) output, and Pan American’s (PAAS) launched friendly offer for Aquiline (AQI.TO) were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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:

Alto Group Holdings Inc. Details Ghana West Africa Gold Project in Ashanti Gold Belt - More
- October 14, 2009 | Item | E-mail

Nemaska Releases Results From Whabouchi Lithium Property - More
- October 14, 2009 | Item | E-mail

Robex is pursuing its field activities of prefeasibility study on Nampala - More
- October 14, 2009 | Item | E-mail

Decade Resources Ltd.: Red Cliff Project Update - More
- October 14, 2009 | Item | E-mail

Bravo to Raise $8.6 Million in Oversubscribed Private Placements - More
- October 14, 2009 | Item | E-mail

Rockhaven Resources Ltd. Announces Promising Silver Values From Trenches at Its Plata Property - More
- October 14, 2009 | Item | E-mail

Aurcana Completes Definitive Agreement to Sell Rosario Project - "Aurcana Corporation ("Aurcana" or the "Company") (TSX-V:AUN - News) is pleased to report the Company and Silvermex Resources Ltd. ("Silvermex") subsequent to its announcement on May 25, 2009 have entered into a definitive agreement (the "Agreement") effective October 9, 2009 (the "Effective Date") for the sale of the Rosario exploration and development project located in Sinaloa, State, Mexico." More
- October 14, 2009 | Item | E-mail

Excellon Announces Further Expansion of the High-Grade 623 Manto - "Excellon Resources Inc. (TSX:EXN - News) is pleased to announce assay results for six additional holes at its Platosa Property. Three of these holes were designed to locate massive sulphide extensions to the 623 Manto discovered in July of this year. The results for Holes LP653 and LP654 provide further evidence of the high-grade nature of the manto and there are indications that it may link with the Guadalupe Manto." More
- October 14, 2009 | Item | E-mail

Supreme to drill copper gold project - More
- October 14, 2009 | Item | E-mail

Dumont launches carbon capture and sequestration R&D study for its Alberta polymetallic black shales - More
- October 14, 2009 | Item | E-mail

J-Pacific Closes Private Placement - More
- October 14, 2009 | Item | E-mail

Golden Predator Royalty & Development Corp.: Taylor Project Metallurgical Analysis to Evaluate Economic Heap Leach Potential - More
- October 14, 2009 | Item | E-mail

Ivanhoe Mines Conference Call for Investors and Analysts October 15 to Discuss Details and Implications of the Landmark Oyu Tolgoi Investment Agreement - "Ivanhoe Mines (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News) will host a conference call on Thursday, October 15, for investors and analysts at 8:00 am EDT (5:00 am PDT) to discuss the details and implications of the Investment Agreement for the Oyu Tolgoi copper-gold project in Mongolia. An overview of the agreement was provided in Ivanhoe Mines' October 6, 2009, news release." More
- October 14, 2009 | Item | E-mail

Canada Lithium initiates environmental impact study - More
- October 14, 2009 | Item | E-mail

Nunavik Nickel Project Update: Puimajuq Adds 7.5 Million Pounds of Nickel and 12.6 Million Pounds of Copper to Measured and Indicated Resources - More
- October 14, 2009 | Item | E-mail

Western Uranium Corporation Purchases Additional Units of Western Lithum in Private Placement - More
- October 14, 2009 | Item | E-mail

Terra Nova Minerals Announces 80% of AEC Shares Tendered, 98% Shareholder Vote in Favour of AEC Transaction and TSX Conditional Listing Approval Received - More
- October 14, 2009 | Item | E-mail

Helio reports diamond drilling update - SMP Gold Project, Tanzania - More
- October 14, 2009 | Item | E-mail

Renforth Resources Acquires Joint Venture Interest in New Alger Gold Property - More
- October 14, 2009 | Item | E-mail

Cadillac Announces New Alger Joint Venture - More
- October 14, 2009 | Item | E-mail

Century Mining Announces C$5.25 Million Flow-Through Financing - More
- October 14, 2009 | Item | E-mail

Puget Starts Drilling at Norpax; West Cobalt Project Data Program Continues - More
- October 14, 2009 | Item | E-mail

TNR Gold Corp. Acquires Large Rare-Earth Elements Target in Ontario - More
- October 14, 2009 | Item | E-mail

Lake Victoria's Trenching Program Identifies Multiple New Parallel Veins at Singida Gold Project, Tanzania - More
- October 14, 2009 | Item | E-mail

Amarillo Starts Drilling on the Butia Gold Discovery, Lavras do Sul Project, Southern Brazil - More
- October 14, 2009 | Item | E-mail

Orezone Confirms Bombore Gold Deposit is Amenable to Heap Leaching - "Orezone Gold Corporation (TSX:ORE - News) is pleased to report positive metallurgical test results on its 100% owned Bombore gold deposit located in Burkina Faso, West Africa. All test results for the near surface oxide and transition (mixed oxide/sulphide) resources are better than estimates previously used for an in-house scoping study and will therefore enhance the economics of the project." More
- October 14, 2009 | Item | E-mail

Etruscan updates feasibility at the Agbaou Gold project in Cote d'Ivoire - More
- October 14, 2009 | Item | E-mail

Hinterland Acquires Four REE Properties In Kipawa Area, Quebec - More
- October 14, 2009 | Item | E-mail

Golden Share Amends Option Agreement on the Forsan Property and Completes Its Acquisition - More
- October 14, 2009 | Item | E-mail

Nevada Gold Holdings Inc. Announces Permit Acceptance for Initial Drilling Development on Tempo Prospect - More
- October 14, 2009 | Item | E-mail

Geologix Acquires 100% Interest in Silver Cloud Property, Nevada - More
- October 14, 2009 | Item | E-mail

Forsys Retains Morgan Stanley to Assist With Strategic Review - More
- October 14, 2009 | Item | E-mail

American Creek acquires significant land package adjoining Treaty Creek Project - More
- October 14, 2009 | Item | E-mail

GoldSpring Appoints Experienced Mining Executive - More
- October 14, 2009 | Item | E-mail

Tyhee obtains long intersection of gold mineralization at their premier, Yellowknife Gold Project, NWT Canada - More
- October 14, 2009 | Item | E-mail

Western Uranium Corporation Enters Into Agreement With AuEx Ventures for New Iron Oxide Copper Gold District in Spain - More
- October 14, 2009 | Item | E-mail

Tirex Step Out Drill Hole Intersects 30.25m (99.25 ft) of 1.04% Copper, 1.16% Zinc and 1.1 g/t Gold - More
- October 14, 2009 | Item | E-mail

Kaminak Options Churchill Project Non-Diamond Rights to Shear Minerals Ltd. - More
- October 14, 2009 | Item | E-mail

Uruguay Mineral Exploration Inc.: Stock Options Granted - More
- October 14, 2009 | Item | E-mail

Golden Minerals Provides New El Quevar Resource Estimate - More
- October 14, 2009 | Item | E-mail

Augen Gold Corp. Announces $1,000,000 Non-Brokered Private Placement - More
- October 14, 2009 | Item | E-mail

X-Cal Resources Ltd.: Mineral Resources and Inventory - More
- October 14, 2009 | Item | E-mail

Wayside Completes 17 Hole Diamond Drill Program, Additional Hole in Progress - More
- October 14, 2009 | Item | E-mail

AuEx Signs Baza Project Earn in Agreement: New Iron Oxide Copper Gold District in Spain - More
- October 14, 2009 | Item | E-mail

U.S. Antimony Announces Expansion of Mexican Deposit - More
- October 14, 2009 | Item | E-mail

Manicouagan Reports Filing of NI 43-101 Technical Report in Respect of Three Pickle Lake Gold Properties - More
- October 14, 2009 | Item | E-mail

Redstar Acquires New Project in Nevada Along Regional Gold Trend - More
- October 14, 2009 | Item | E-mail

Baffinland Reports Additional Outstanding Results From Steel Producer's Blast Furnace Test of Its Mary River Lump Iron Ore Trial Cargo - More
- October 14, 2009 | Item | E-mail

Capstone Reports Production & Operating Costs for Q3 and First Nine Months of 2009 - More
- October 14, 2009 | Item | E-mail

Boxxer Acquires Crystal Pass Project in Goodsprings Mining District - More
- October 14, 2009 | Item | E-mail

Marathon Identifies 1.1 km On-Strike Extension of PGM-Cu Mineralization - More
- October 14, 2009 | Item | E-mail

Uranium Energy Corp to Purchase South Texas Mining Venture L.L.P. from Uranium One and Everest Exploration - More
- October 14, 2009 | Item | E-mail

Further Robust Rock Samples from African Queen's King Solomon Project Consistent with Initial Results; Confirm Potential for Sizeable Regional System - More
- October 14, 2009 | Item | E-mail

Fresnillo Q3 output up 9.3 pct, sees good 2009 - "Mexico's Fresnillo Plc (FRES.L), the world's largest primary silver producer, posted a 9.3 percent rise in third-quarter output on Wednesday to a record high and was confident about full-year results. The London-listed group said attributable silver production increased to 9.75 million ounces for the three months to end September from 8.92 million ounces in the same period last year." More
- October 14, 2009 | Item | E-mail

African Copper Plc: Operational Update - More
- October 14, 2009 | Item | E-mail

Uruguay Mineral Exploration Inc.: Result of Annual General Meeting and Reschedule of Definitive Agreement with Fortune Valley - More
- October 14, 2009 | Item | E-mail

Uruguay Mineral Exploration Inc.: Appointment of Chairman - More
- October 14, 2009 | Item | E-mail

Banro Foundation and the Saramabila Community celebrate handover of new high school - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to report that the Banro Foundation, a registered charity in the Democratic Republic of the Congo (the "DRC"), has officially handed over to the community of Saramabila and the Kambambere territory in the DRC the new Saramabila Institute secondary school. The project was financed and built by the Banro Foundation using local contractors and labour. Saramabila is located near Banro's Namoya gold exploration and development project." More
- October 14, 2009 | Item | E-mail

US Gold: Nevada Delivers Good Drill Results - "US GOLD CORPORATION (AMEX:UXG - News)(TSX:UXG - News) is pleased to announce that drilling at its Gold Bar Project in Nevada's prolific Cortez Trend continues to expand the known mineralization, encountering good grades and widths. Nine out of ten holes designed to follow-up on results released on September 9th hit economically significant mineralization. The objective of the drilling was to increase the size of the NI 43-101 compliant resource in three areas: 1) West Pick, 2) East Pick, and 3) North Ridge as illustrated in Figure 1." More
- October 14, 2009 | Item | E-mail

Claude Resources Inc. Completes Phase I Drilling at Madsen Project, Red Lake, Ontario - "Phase I deep drilling of the 8 Zone Trend was completed in early-October. "The program was immensely successful demonstrating down plunge continuity of the historic, high grade 8 Zone to 450 feet below the 27th level as well as testing the eastern and western strike continuity," stated Brian Skanderbeg, Vice President, Exploration. Step-out drilling to the east and west confirmed the development of 8 Zone structure and stratigraphy, although failed to return significant gold values. The system remains open down plunge and along strike to the east and west." More
- October 14, 2009 | Item | E-mail

Drill Results at Seabridge Gold's Sulphurets Zone Exceed Expectations - "Better than expected results from this year's core drill program at KSM's Sulphurets zone are expected to: (1) upgrade substantially all of the inferred resources remaining in the planned pit to measured and indicated; (2) significantly increase mineral resources due to better than predicted grades and widths; and (3) show the discovery of a new zone which could also add to resources." More
- October 14, 2009 | Item | E-mail

BLM grants approval for construction of a second Alimak raise at Great Basin Gold's Hollister Project - "Great Basin Gold Ltd. ("Great Basin Gold" or the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces another step forward in the permitting process for the Company's Hollister Project in northeastern Nevada. The Bureau of Land Management ("BLM") issued a final approval Decision Notice for a Plan of Operation Amendment to construct a second Alimak raise to surface at the western end of the Project's underground workings. The first Alimak raise on the eastern section of the mine was completed in 2008." More
- October 14, 2009 | Item | E-mail

Pan American Silver Corp. to Launch Friendly Offer For Aquiline Resources Inc. - "Pan American Silver Corp. ("Pan American") (TSX:PAA - News)(NASDAQ:PAAS - News) and Aquiline Resources Inc. ("Aquiline") (TSX:AQI - News) are pleased to announce that they have signed a support agreement (the "Support Agreement") pursuant to which Pan American will make a formal take-over bid to acquire all of the issued and outstanding shares of Aquiline (the "Share Offer"). Contemporaneously with the Share Offer, Pan American also proposes to make formal take-over bids for each outstanding series of Aquiline warrants and the Aquiline convertible debenture (together, the "Convertible Security Offers"). The transaction value implied by all of the offers is approximately $626 million." More
- October 14, 2009 | Item | E-mail

- Chris Mullen, Gold Seeker Report

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-- Posted Wednesday, 14 October 2009 | Digg This Article | Source: GoldSeek.com

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