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Gold Seeker Weekly Wrap-Up: Gold and Silver Rise Almost 1% and 5% on the Week to New Highs
By: Chris Mullen, Gold-Seeker.com


-- Posted Friday, 15 April 2011 | | Source: GoldSeek.com

 

Close

Gain/Loss

On Week

Gold

$1485.20

+$13.80

+0.85%

Silver

$42.52

+$0.86

+4.75%

XAU

218.71

-0.21%

-4.47%

HUI

584.21

-0.27%

-3.63%

GDM

1704.22

-0.33%

-3.83%

JSE Gold

2811.09

-17.80

-0.96%

USD

74.86

+0.17

-0.16%

Euro

144.26

-0.61

-0.20%

Yen

120.42

+0.65

+2.17%

Oil

$109.66

+$1.55

-2.78%

10-Year

3.410%

-0.075

-4.48%

Bond

120.8125

+1.125

+1.92%

Dow

12341.76

+0.46%

-0.31%

Nasdaq

2764.65

+0.13%

-0.57%

S&P

1319.68

+0.39%

-0.64%

 
 

 

The Metals:

 

Gold traded mostly modestly higher in Asia and London before it accelerated up in late morning New York trade and ended near its new all-time high of $1487.30 with a gain of 0.94%.  Silver soared to a new 31-year high of $42.85 and ended with a gain of 2.06%.

 

Euro gold rose to about €1029, platinum gained $0.80 to $1788, and copper fell a few cents to about $4.25.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

Mar

0.5%

0.5%

0.5%

Core CPI

Mar

0.1%

0.2%

0.2%

Empire Manufacturing

Apr

21.7

15.0

17.5

Net Long-Term TIC Flows

Feb

$26.9B

-

$51.1B

Industrial Production

Mar

0.8%

0.6%

0.1%

Capacity Utilization

Mar

77.4%

77.4%

76.9

Michigan Sentiment

Apr

69.6

66.5

67.5

 

All of this week’s other economic reports:

 

PPI - March

0.7% v. 1.6%

 

Core PPI - March

0.3% v. 0.2%

 

Initial Claims - 4/09

412K v. 385K

 

Business Inventories - February

0.5% v. 1.0%

 

Retail Sales - March

0.4% v. 1.1%

 

Retail Sales ex-auto - March

0.8% v. 1.1%

 

Treasury Budget - March

-$188.2 v. $65.4B

 

Import Prices - March

2.7% v. 1.4%

 

Import Prices ex-oil - March

0.6% v. 0.5%

 

Export Prices - March

1.5% v. 1.4%

 

Export Prices ex-ag. - March

1.3% v. 1.0%

 

Trade Balance - February

-$45.8B v. -$47.0B

 

Next week’s economic highlights include the NAHB Housing Market Index on Monday, Housing Starts and Building Permits on Tuesday, Existing Home Sales on Wednesday, and Initial Jobless Claims, the Philadelphia Fed, Leading Indicators, and the FHFA Housing Price Index on Thursday.  Markets will be closed on Friday in observance of Good Friday.

 

The Markets:

 

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

 

Oil rose on better than expected economic data.

 

The U.S. dollar index rose as the euro fell “after comments by a German official saying Germany would back a voluntary restructuring by Greece of its debt.”

 

Treasuries rose on worries over debt problems in Europe.

 

The Dow, Nasdaq, and S&P rose on better than expected economic data.

 

Among the big names making news in the market Friday were Google, Mattel, Nestle, BofA, and RIM.

 

GATA Posts:

GoldSeek Radio interviews GATA Chairman Bill Murphy

Gold Standard Institute's letter focuses on infinite debt

J.S. Kim: GATA proved gold market manipulation long ago

 

The Statistics:

Activity from: 4/14/2011

Gold Warehouse Stocks:

11,083,607

-582

Silver Warehouse Stocks:

102,651,019

-488,569

 

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 Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)

SPDR® Gold Shares

1212.964

38,997,991

US$57,579m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

115.22

3,704,313

US$5,508m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

115.36

3,708,882

US$5,510m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,430

US$679m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.87

1,571,254

US$2,307m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,958

US$7m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 133.35 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,974.26: +4.55 change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRE) resource base, Randgold’s (GOLD) Annual Information Update, Gold Fields’ (GFI) acquisition of IAMGOLD’s (IAG) interest in the Tarkwa and Damang gold mines in Ghana, South American Silver’s (SAC.TO) project clarification, and Coeur’s (CDE) assurances from the Morales Administration were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Solitario

XPL +10.18% $3.03

2.  Richmont

RIC +6.53% $8.32

3.  Gold Resource

GORO+4.72% $28.85

 

LOSERS

1.  IAMGOLD

IAG-8.44% $20.07

2.  Mines MGMT

MGN -5.90% $2.71

3.  Minco Gold

MGH -4.81% $2.57

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:

Teck Inaugurates New Concentrator at Carmen de Andacollo - More
- April 15, 2011 | Item | ShareThis


First Point Grants Stock Options - More
- April 15, 2011 | Item | ShareThis


Calibre Intersects 10.25 g/t Gold and 288.25 g/t Silver Over 5.4 Metres at the Riscos De Oro Gold-Silver Property, Nicaragua - More
- April 15, 2011 | Item | ShareThis


Quaterra Provides Status Report at SW Tintic, Utah and Peg Leg, Arizona - More
- April 15, 2011 | Item | ShareThis


Gossan Hill Results Show Greater Widths, Drilling to Commence at Pine Bay - More
- April 15, 2011 | Item | ShareThis


Arco Announces Financing - More
- April 15, 2011 | Item | ShareThis


Continental Nickel Files the NI 43 101 Technical Report Which Supports the Recently Released Major Increase in Mineral Resources at its 75% Owned Nachingwea - More
- April 15, 2011 | Item | ShareThis


Empire Appoints Chief Operating Officer in Preparation for Mining at Bulqiza Chromite Project - More
- April 15, 2011 | Item | ShareThis


Gold-Ore Announces Earnings of C$1.0 million in First Quarter, 2011 - More
- April 15, 2011 | Item | ShareThis


Western Troy Grants Options - More
- April 15, 2011 | Item | ShareThis


PolyMet Updates Status of Environmental Review - More
- April 15, 2011 | Item | ShareThis


Southern Hemisphere Mining Limited: Exploration Update-Chilean Copper-Gold Projects - More
- April 15, 2011 | Item | ShareThis


Cayden Graduates to Tier 1 on the TSX Venture Exchange - More
- April 15, 2011 | Item | ShareThis


Hathor Provides Update on Russell Lake Project - More
- April 15, 2011 | Item | ShareThis


Mawson West Announces Stock Symbol Change - More
- April 15, 2011 | Item | ShareThis


Balmoral Intersects 10.51 g/t Gold Over 9.72 Metres and 10.58 g/t Gold Over 6.93 Metres in Follow-Up Drilling at Martiniere West, Quebec - More
- April 15, 2011 | Item | ShareThis


Stillwater Canada, Inc. Announces Voluntary Agreement to Harmonize Environmental Assessment Process - More
- April 15, 2011 | Item | ShareThis


ECPN Announces Arrakis Report Indicating Potential Economic Values of Gold as Well as Platinum Group Metals - More
- April 15, 2011 | Item | ShareThis


Nuinsco Reports Drill Results from Prairie Lake Rare Metals Project - More
- April 15, 2011 | Item | ShareThis


Paladin Energy Ltd: Quarterly Activities Report for Period Ending-31 March 2011 - More
- April 15, 2011 | Item | ShareThis


BonTerra Corporate Update & Samples Sent for Rush Assay - More
- April 15, 2011 | Item | ShareThis


Greystar Resources Announces the Retirement of Frederick Felder, Executive Vice President - More
- April 15, 2011 | Item | ShareThis


Tanzanian Royalty's Buckreef Gold Project Resource Base Climbs to Approximately Two Million Ounces Utilizing Lower Cutoff Grade - "The Company is pleased to provide an update on its recently acquired Buckreef Gold Mine Re-development Project in Tanzania’s Lake Victoria Greenstone Belt. The Buckreef Project is a 55/45 joint venture between Tanzanian Royalty Exploration and the State Mining Corporation of Tanzania (Stamico). This update is based on a comprehensive review conducted by the Company of previous work completed on the Buckreef Project prior to our acquisition." More
- April 15, 2011 | Item | ShareThis


Randgold Resources Ld - Annual Information Update - "In accordance with ProspectusRule 5.2, Randgold Resources Limited submits its Annual InformationUpdate, following the publication of our Annual Report in March 2011.This Annual Information Update refers to information that has beenpublished or made available to the public in Jersey, the UK, the USAand Canada." More
- April 15, 2011 | Item | ShareThis


South American Silver Clarifies Private Ownership and Status of the Malku Khota Project - "South American Silver Corp. (TSX:SAC - News)(PINK SHEETS:SOHAF - News) clarifies recent media coverage regarding the potential for the Government of Bolivia to "recover" operatorship control of certain State owned mines. On Thursday April 14th, the Minister of Mining and Metallurgy, through the Government's official Information Agency (ABI #238272) stated that Bolivia is evaluating greater operatorship in four specific mines, which are all 100% owned by COMIBOL (the Bolivian State Mining Corporation) and that are currently under lease agreements from COMIBOL as part of a privatization process in the mid-1990's." More
- April 15, 2011 | Item | ShareThis


Gold Fields Acquires IAMGOLD's 18.9% Minority Stake in the Tarkwa and Damang Gold Mines in Ghana for Us$667 Million - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that it has entered into a binding agreement with IAMGOLD Corporation to acquire its 18.9% minority stake in the Tarkwa and Damang gold mines in Ghana, for a cash consideration of US$667 million." More
- April 15, 2011 | Item | ShareThis


IAMGOLD To Sell Its Interest in Tarkwa and Damang Mines in Ghana for $667 Million in Cash - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) announced today that it has reached an agreement to sell its 18.9% interest in the Tarkwa and Damang gold mines in Ghana, West Africa to Gold Fields Limited ("Gold Fields") for $667 million ("the Transaction"). The Transaction is subject to the approval of Gold Fields' shareholders and is expected to close no later than July 31, 2011." More
- April 15, 2011 | Item | ShareThis


Coeur Manquiri Receives Assurance from Morales Administration That San Bartolomé Not Subject to Nationalization - "Coeur d’Alene Mines Corporation (NYSE:CDE - News)(TSX:CDM.to - News) today announced that it has received assurances from the Morales Administration in Bolivia that its San Bartolomé mine is not subject to any proposed nationalization in Bolivia." More
- April 15, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2011

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, 15 April 2011 | Digg This Article | Source: GoldSeek.com




 



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