-- Posted 3 April, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $664.00 | -$1.40 |
Silver | $13.36 | +$0.06 |
XAU | 141.00 | +1.22% |
HUI | 349.41 | +1.23% |
GDM | 1103.36 | +1.24% |
JSE Gold | 2965.18 | +1.78% |
USD | 83.18 | +0.32 |
Euro | 133.33 | -0.36 |
Yen | 84.16 | -0.74 |
Oil | $64.45 | -$1.49 |
10-Year | 4.664% | +0.022 |
T-Bond | 111.1875 | -0.15625 |
Dow | 12510.30 | +1.03% |
Nasdaq | 2450.33 | +1.16% |
S&P | 1437.77 | +0.93% |
The Metals:
Gold traded about $1-$3 lower in Asia and London and dropped to as low as $661.70 in early New York trade before it rose for the rest of the morning and found slight gains over $666 heading into afternoon trade, but it then fell off a bit into the close and ended with a loss of 0.21%. Silver dropped to as low as $13.21 before it rose to about $13.45 by late morning, but it also fell off a bit in afternoon trade and ended with a gain of just 0.45%.
Euro gold remained at about €497, platinum gained $2 to $1,238, palladium gained $4 to $352, and copper gained roughly 13 cents to about $3.28.
Gold and silver equities steadily rose throughout most of trade and ended with over 1% gains.
The Economy:
There were no major economic reports today, but a pending home sales report that unexpectedly rose 0.7% in February and a retail sales report from the International Council of Shopping Centers and UBS Securities LLC showing a 4.9% increase in sales last week did have some talking. Tomorrow at 10AM EST brings Factory Orders for February expected at 1.9% and ISM Services for March expected at 54.7.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell roughly 2% as tensions over Iran eased after Iran’s Supreme National Security Council announced there would be no need for a trial for the 15 captured British military personnel and that diplomacy should be able to resolve the issue.
The U.S. dollar index rose and treasuries fell after pending home sales came in better than expected, but moves were limited ahead of more significant economic data due out later in the week.
The Dow, Nasdaq, and S&P rose about 1% on easing worries over Iran and the housing sector.
Among the big names making news in the market today were Toyota, Ford, Chrysler, Bristol-Myers, Wesfarmers and Coles, Apple, Tribune and Zell, Moody’s, and GE, Lilly, and SunTrust.
The Commentary:
“June Gold finished down 1.8 at 669.7, 3.5 off the high and 2 up from the low.
May Silver closed up 0.08 at 13.43. This was 0.12 up from the low and 0.1 off the high.
The gold market mostly waffled around unchanged and given the performance of the outside metals markets, the lack of strength in the gold market had to disappoint the bull camp. Certainly the gold market was logically in line for some light selling off a downshift in geopolitical anxieties and certainly the sharp slide in oil prices justifies some additional selling pressure. Some Press outlets even suggested that the overt strength in the copper market was spilling over into the gold market and that is not a typical event.
With the equity market forging a very significant upward pulse and the initial US scheduled data coming in better than expected it was not surprising to see silver, platinum and copper lifted off the expectation of improving or ongoing solid demand patterns. With the copper market soaring to the highest level since November 9th, 2006 and in the process seeing gains in excess of 14 cents, it is not surprising that silver prices were lifted off spillover buying.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
John Crudele: Treasury clams up on PPT
Ecuador's president denounces adoption of U.S. dollar
The Statistics:
As of close of business: 4/02/2007
Gold Warehouse Stocks: | 7,577,548 | - |
Silver Warehouse Stocks: | 125,866,234* | + 90,698 |
*Silver Warehouse Stock data is certainly worth closer examination at http://www.nymex.com/sil_fut_wareho.aspx
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 483.93 | 15,558,894 | US$ 10,238m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 88.84 | 2,856,315 | US$ 1,898m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.42 | 366,918 | US$ 244m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.35 | 364,813 | US$ 240m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 4/2/2007 | |
Total Net Assets | $956,901,500 | Ounces of Gold
in Trust | 1,437,943.875 |
Shares Outstanding | 14,500,000 | Tonnes of Gold
in Trust | 44.73 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 4/2/2007 | |
Total Net Assets | $1,758,812,237 | Ounces of Silver
in Trust | 131,952,260.500 |
Shares Outstanding | 13,250,000 | Tonnes of Silver
in Trust | 4,104.17 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Newmont’s (NEM) pollution trial, Crystallex’s (KRY) COO appointment, Gammon Lake’s (GRS) CEO appointment, U.S. Energy’s (USEG) exploration joint venture, Glencairn’s (GLE) board appointment, Apex Silver’s (SIL) year-end results, IAMGOLD’s (IAG) year end financial statements, Gammon Lake’s (GRS) 2006 financial results, Miramar’s (MNG) year-end results, Minco Silver’s (MSV.TO) assay results, Apogee’s (APE.V) drill results, and Sabina Silver’s (SBB.V) closed $30 million bought-deal financing and drilling were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU +14.49% $2.37 |
2. Minco Gold | MGH +9.79% $1.57 |
3. Taseko | TGB +8.88% $2.82 |
LOSERS
1. New Gold | NGD-7.89% $7.24 |
2. Rubicon | RBY -3.33% $1.45 |
3. Orezone | OZN -2.93% $1.99 |
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:
Dhanoa Minerals Successfully Fullfilling Financial and Operational Obligations - More
- April 03, 2007 | Item | E-mail
Sunridge Gold Increases Ownership of Asmara Project, Eritrea to 100% - More
- April 03, 2007 | Item | E-mail
Taranis Resources Identifies New Copper-Gold Zone in Kettukuusikko Center Zone, Finland - More
- April 03, 2007 | Item | E-mail
Western Troy Announces $3,000,000 Financing with Sprott Asset Management and a Public Institutional Investor - More
- April 03, 2007 | Item | E-mail
Crystallex Hires Chief Operating Officer and Senior Vice President - "Crystallex International Corporation (Toronto:KRY.TO - News)(AMEX:KRY - News) announced today the appointment of William A. Faust as Chief Operating Officer and Senior Vice President, effective April 16, 2007. Mr. Faust will direct the Company's mining operations in Venezuela, including the development, construction and operation of the Las Cristinas gold project located in Bolivar State, Venezuela." More
- April 03, 2007 | Item | E-mail
Firstgold Corp. One Step Closer to Reopening Relief Canyon Mine - More
- April 03, 2007 | Item | E-mail
Carlisle Goldfields Ltd. retains Renmark Financial Communications Inc. - More
- April 03, 2007 | Item | E-mail
McVicar Resources private placement closing in escrow - More
- April 03, 2007 | Item | E-mail
Landore Resources Limited - West Graham-First Nickel option - More
- April 03, 2007 | Item | E-mail
American Bonanza Restarts Drilling at Copperstone - More
- April 03, 2007 | Item | E-mail
Gammon Lake Resources Board of Directors Appoints Russell Barwick as CEO - "Gammon Lake Resources Inc. ("Gammon Lake") (TSX:GAM and AMEX:GRS) is pleased to announce that the Company's Board of Directors has appointed Mr. Russell Barwick as Chief Executive Office (CEO) and Director of the Board, effective today. Mr. Barwick will be based out of Gammon Lake's corporate head office in Halifax, Nova Scotia. With more than 33 years of experience in the mining industry, he brings to Gammon Lake the experience and skills to grow the Company while maximizing the inherent value of the existing assets through optimization processes and organic growth." More
- April 03, 2007 | Item | E-mail
Laramide to Acquire Thunder Lake Properties From Corona Gold/ Teck Cominco. Plans Spin Off of Non-Uranium Assets - More
- April 03, 2007 | Item | E-mail
Project update - Red Lake joint venture - Progress towards underground drill program - More
- April 03, 2007 | Item | E-mail
MacMillan Gold Corporate Update - More
- April 03, 2007 | Item | E-mail
New Jersey Mining Company Intersects Coleman Vein - More
- April 03, 2007 | Item | E-mail
Halo Has Commenced Drilling on Jungle Lake Copper-Zinc Deposit, Sherridon - Flin Flon Area, Manitoba - More
- April 03, 2007 | Item | E-mail
U.S. Energy Corp. and Crested Corp. Announce Joint Venture Partner for Exploration and Development of Sutter Gold's Gold Concession in Mexico - "U.S. Energy Corp. (USE) (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News), natural resource exploration and development Companies, announce that their subsidiary, Sutter Gold Mining Inc. (TSX Venture: SGM - News), has signed a Letter of Intent (LOI) with PREMIER GOLD MINES LIMITED (TSX: PG - News) to jointly explore Sutter's Santa Teresa mineral concession located in the historic and high grade El Alamo Mineral District of Baja California Norte, Mexico." More
- April 03, 2007 | Item | E-mail
Aurora Expands Metallurgical Database of the Michelin Uranium Deposit in Coastal Labrador - More
- April 03, 2007 | Item | E-mail
Puma Exploration Continues to Intersect Strong Mineralization at Nicholas Denys: Fourth Hole on the Hache Lens, With 41.6 Metres of Mineralization - More
- April 03, 2007 | Item | E-mail
Metanor Resources Inc. - Purchase warrants exercised - More
- April 03, 2007 | Item | E-mail
Mawson Third Quarter Update - More
- April 03, 2007 | Item | E-mail
CanAm Uranium Announces Corporate Update - More
- April 03, 2007 | Item | E-mail
Battle Mountain Gold Completes Purchase of the Dolores Net Smelter Royalty - More
- April 03, 2007 | Item | E-mail
UCR Adopts Shareholder Rights Plan - More
- April 03, 2007 | Item | E-mail
Drill Program starts on San Jose high-grade shoot, looking to increase 68.8 million ounce Ag-Au resource prior to start of production - More
- April 03, 2007 | Item | E-mail
Etruscan's diamond drilling intersects significant gold mineralization in the northwestern area of Diba - More
- April 03, 2007 | Item | E-mail
Royal Standard Minerals Inc.: Goldwedge Project Progress, Nye County, Nevada - More
- April 03, 2007 | Item | E-mail
Minco Silver Announces the Remaining Assay Results From Phase III Drilling on the Fuwan Silver Project - "Minco Silver Corporation (the "Company" or "Minco Silver") (Toronto:MSV.TO - News) is pleased to announce the assay results for the remaining 19 holes of the Phase III drilling program on its Fuwan Silver Project located in the Guangdong Province in southeast China. The program consisted of 30 holes, adding 7,509 metres of core drilling, and increases the drill density to 80 metres by 80 metres." More
- April 03, 2007 | Item | E-mail
Ireland Inc. to Acquire Mineral Properties - More
- April 03, 2007 | Item | E-mail
Inter-Citic Announces Expanded Exploration Plan At Dachang Gold Project For 2007 - More
- April 03, 2007 | Item | E-mail
Redcorp Ventures Ltd.: New Resource Estimate for Big Bull Expands Tulsequah Project Resources - More
- April 03, 2007 | Item | E-mail
Garibaldi Adds Remote Sensing Expertise to Advisory Board-Grants Options - More
- April 03, 2007 | Item | E-mail
Corriente Gold Asset Spin-Off Approved by Board - More
- April 03, 2007 | Item | E-mail
Laurion and Geoinformatics Execute a Strategic Alliance on the Southwest Canadian Superior Craton Projects - More
- April 03, 2007 | Item | E-mail
Dale A. Sketchley, M.Sc., P.Geo., Joins Cusac Board Garth Kirkham Steps Down - More
- April 03, 2007 | Item | E-mail
Farallon Updates Drilling at G-9 Deposit: New High Grade Intersections Continue to Be Made in Southeast Zone & New Zone North of San Raphael Fault Grows - More
- April 03, 2007 | Item | E-mail
Skygold Ventures Identifies Four New Exploration Targets Similar to its Spanish Mountain Discovery - More
- April 03, 2007 | Item | E-mail
Keegan Resources Inc.: Exploration Core Drilling Program Significantly Expands Resource Potential at Esaase Gold Project - More
- April 03, 2007 | Item | E-mail
MRI Trading Confirms Third Order of Olympias Gold Concentrates - More
- April 03, 2007 | Item | E-mail
Paramount Gold Signs Chief Geologist for an Additional Two Years - More
- April 03, 2007 | Item | E-mail
Sierra Gold Corporation Participates in Community Work and Social Programs in Sierra Leone - More
- April 03, 2007 | Item | E-mail
Energy Fuels Acquires Strategic Claim Blocks to Expand Whirlwind Mine Acreage - More
- April 03, 2007 | Item | E-mail
Idaho General Mines Announces Projects Update and Year-End 2006 Results - More
- April 03, 2007 | Item | E-mail
Dutch Gold Resources Reports Initial Gold Sales - More
- April 03, 2007 | Item | E-mail
Molycor Gold Corp.: Molybdenum Diamond Drilling Program for Crowrea & Empress Claims - More
- April 03, 2007 | Item | E-mail
Adanac Molybdenum Corporation: Mining Lease Received for Ruby Creek Molybdenum Project - More
- April 03, 2007 | Item | E-mail
Molybdenum Diamond Drilling Program Planned for Crowrea & Empress Claims - More
- April 03, 2007 | Item | E-mail
Asian Dragon Group Inc., Closes US$1,500,000 Financing to Fund Future Expansion of Project Luogold - More
- April 03, 2007 | Item | E-mail
Lakota Announces 7.03 g/t Gold Over 4m in RC Drilling on Tembo - More
- April 03, 2007 | Item | E-mail
Universal Uranium Ltd completes sixty-per-cent earn in on Labrador claims with Silver Spruce Resources - More
- April 03, 2007 | Item | E-mail
Uranium Energy Corp to Acquire Past-Producing Ann Lee and Sandstone Uranium Mines in New Mexico - More
- April 03, 2007 | Item | E-mail
Mega Acquires Additional Central Mineral Belt Projects From Santoy Resources Ltd. - More
- April 03, 2007 | Item | E-mail
Western Uranium Corporation Announces the Initiation of the Drilling and Geophysical Program in the Thelon Basin - More
- April 03, 2007 | Item | E-mail
Trigon Provides Operations Update - More
- April 03, 2007 | Item | E-mail
Apogee Discovers New Silver-Zinc Zone Along Hampaturi Southwest at La Solucion Mine - "Apogee Minerals Ltd. (TSX VENTURE:APE - News) has intersected significant new silver-zinc-lead mineralization at the Hampaturi Southwest target, 150m along strike from the Hampaturi South Zone, at the southwestern end of Apogee's 100% owned La Solucion Mine." More
- April 03, 2007 | Item | E-mail
Apex Silver Reports 2006 Year-End Results - "Apex Silver Mines Limited (AMEX: SIL - News) today reported a net loss of $326.4 million or $5.58 per share for the fourth quarter 2006 and a restated net loss of $72.3 million or $1.44 per share for the same 2005 period. The loss in the fourth quarter 2006 was mainly due to the company's share of a $340.5 million unrealized mark-to-market charge related to the commodity hedge position required by the company's lenders in connection with the $225-million project financing for its 65%-owned San Cristobal open-pit silver-zinc-lead project located in southwestern Bolivia." More
- April 03, 2007 | Item | E-mail
Sabina Silver Successfully Closes $30 Million Bought-Deal Financing, Resumes Drilling at Hackett River - "SABINA SILVER CORPORATION (CDNX:SBB.V - News) ("Sabina") is pleased to announce that it has successfully closed the previously announced bought-deal private placement of 5 million units (each, a "Unit") at a price of $3.00 per Unit for gross proceeds of $15 million. Each Unit is comprised of one common share of Sabina (each a "Common Share") and one half of one Common Share purchase warrant (a "Warrant"), with each full Warrant entitling the holder thereof to purchase one Common Share at a price of $3.60 for a period of 36 months following the closing of the offering." More
- April 03, 2007 | Item | E-mail
IAMGOLD Files Complete Audited Year End Financial Statements - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(ASX:IGD.AX - News)(Boston:IAMGOLD - News) announced today that all of the Company's required annual financial statements have been filed with the appropriate regulatory bodies." More
- April 03, 2007 | Item | E-mail
Glencairn Announces Appointment of Bruce Humphrey to Board of Directors - "Glencairn Gold Corporation (Toronto:GGG.TO - News)(Toronto:GGG-WT.TO - News)(AMEX:GLE - News) is pleased to announce that Bruce Humphrey, P.Eng., has been appointed to the Board of Directors. Mr. Humphrey, who joins the board as an independent director, has more than 30 years of experience in the international mining industry." More
- April 03, 2007 | Item | E-mail
Newmont pollution trial verdict postponed to April 24 - "An Indonesian court verdict in a high-profile pollution trial involving Newmont Mining Corp (NEM.N: Quote, Profile , Research) has been postponed to April 24, the judge trying the case said on Tuesday.
Newmont unit PT Newmont Minahasa Raya, which once operated in North Sulawesi province, and its president director Richard Ness face criminal charges over allegations the company dumped toxic substances into a bay near its now defunct gold mine, making villagers sick." More
- April 03, 2007 | Item | E-mail
Gammon Lake Resources Announces 2006 Annual Financial Results - "Gammon Lake Resources Inc. ("Gammon Lake") (TSX:GAM and AMEX:GRS) is pleased to announce year-end financial results for the twelve months ended December 31, 2006. During 2006, the Company recorded revenue of $73 million and became cash flow positive in the fourth quarter with cash flow of $6,871,156 from operations. With completion of the construction of the Ocampo open pit and underground mining projects, the Company has become a mid-tier producer of gold and silver." More
- April 03, 2007 | Item | E-mail
Miramar Announces 2006 Year End Results - "Miramar Mining Corporation (Toronto:MAE.TO - News)(AMEX:MNG - News) today announced its consolidated 2006 annual financial results reporting a loss of $2.0 million for the year. The Company ended 2006 with consolidated working capital of $143.7 million, which includes cash and short term investments of $149.8 million." More
- April 03, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 3 April, 2007 | |
