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Mix-Ansicht- Gold-und Silber-Minenaktien mit grossen Volumen aufwärts! - Emerald, 21.08.2006, 23:10
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Re: Gold-und Silber-Minenaktien ; alle Fakten auf einen Blick..................
-->Money flees to gold as international tensions mount
Metal's rally puts it at highest in three sessions, mirroring a rise in oil futures
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy Myra P. Saefong, MarketWatch
Last Update: 4:13 PM ET Aug 21, 2006
SAN FRANCISCO (MarketWatch) -- Gold futures surged nearly $14 an ounce Monday to close at their loftiest level in three sessions as oil prices gained on signs that Iran is poised to reject a United Nations demand that it cease enriching uranium for its nuclear program.
"The summer of unrest continues to unfold and keep volatility on the boil, just as we get closer to the time of seasonal strength in gold prices," said Jon Nadler, an investment products analyst at bullion dealer Kitco.com.
Gold for December delivery closed up $13.50, or 2.2%, at $635.20 an ounce on the New York Mercantile Exchange, recouping more than half of the nearly $23 loss recorded last week as easing Middle East tensions and inflation concerns undercut demand for the metal as a safe-haven investment and inflation hedge. The contract traded as high as $636 earlier in the session.
Demand from physical buyers, largely absent from the action last week, added support for the higher prices, according to Nadler.
"Although the repair process remains tentative and the market could still reverse course if prices are deemed either too lofty or simply unsustainable, the stabilization is welcome after several turbulent weeks," he said.
Crude futures gained Monday to close above $72 a barrel. See Futures Movers.
Iran returned to the headlines over the weekend, with the country's foreign ministry saying the suspension of uranium enrichment won't be on the agenda when Iranian negotiators sit down with representatives from Western governments.
Tehran's expected on Tuesday to formally reject a package of incentives to stop enriching uranium. In July, the U.N. passed a resolution that gives Iran an Aug. 31 deadline to halt its activities or face unspecified sanctions.
Meanwhile, the Iranian army tested surface-to-sea missiles over the weekend, according to news reports.
"It is seen as a hint concerning the ability of Iran to close the Straits of Hormuz," said UBS analyst Jon Rigby, referring to the key waterway at the mouth of the petroleum-rich Persian Gulf.
Also Monday, some weakness in the U.S. dollar also fueled gold's gains. The dollar was down by 0.6% against the euro, reflecting expectations that there will be more rate hikes in Europe than the U.S. for the rest of the year.
Specifically, the European Central Bank is expected to raise interest rates as many as two more times by the end of 2006, while there are growing convictions in the market that the Federal Reserve may continue to keep key U.S. benchmark rates at 5.25% following tame inflation data.
Peter Grandich, editor of The Grandich Letter, said technically, gold is set up for a run to new yearly highs above $735 an ounce before the end of 2006, after establishing a bottom above the psychologically key $600 level.
Monday's prevailing direction in the Nymex metals pits was broadly higher.
September silver futures tacked on 31.5 cents to close at $12.345 an ounce after touching a high of $12.45, a level it hasn't seen in more than a week. October platinum added $18.50 to end at $1,242.10 an ounce, while September palladium closed up $10.90 at $345.20 an ounce.
September copper added 8.5 cents to end at $3.5195 a pound, as labor unrest continued to ensnare the Escondida mine in Chile.
On the supply side, gold inventories were down by 97 troy ounces to 8.18 million troy ounces as of late Friday, according to Nymex data.
Silver supplies dropped by 65,300 troy ounces to 103.2 million troy ounces and copper supplies rose by 556 short tons to 7,511 short tons.
Also Monday, indexes that track metals and mining stocks moved higher.
The Philadelphia Gold and Silver Exchange Index (XAU: phlx gold silver index capital-weight
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XAU0.00, 0.00, 0.0%) closed up 4.9% at 147.68, the CBOE Gold Index (GOX: CBOE Gold Index
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Last: 149.64+7.93+5.60%
4:49pm 08/21/2006
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GOX149.64, +7.93, +5.6%) finished up 5.6% at 149.64 and the Amex Gold Bugs (HUI: amex gold bugs index equal-$ weight
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Last: 344.71+17.58+5.37%
4:04pm 08/21/2006
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HUI344.71, +17.58, +5.4%) added 5.4% to close at 344.71.
Among individual shares, Anglo American (AAUK: anglo amern plc adr
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Last: 23.49+0.88+3.89%
4:00pm 08/21/2006
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AAUK23.49, +0.88, +3.9%) (UK:AAL: news, chart, profile) was in the spotlight. Over the weekend, a U.K. newspaper said the company could become the target for a corporate breakup mounted by cash-flush rivals.
U.S.-listed shares of Anglo American rallied as much as 3.8%.
In addition, Meridian Gold (MDG: Meridian Gold Inc.
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Last: 28.65+1.26+4.60%
4:04pm 08/21/2006
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MDG28.65, +1.26, +4.6%) closed at $28.65, up 4.6%. The Reno, Nev.-based firm hired Edward Dowling as the designate to succeed Brian Kennedy as chief executive. Kennedy will assume the role of chairman on Jan. 1, 2007. See full story.
Metals exchange-traded funds gained too. The StreetTracks Gold Trust ETF (GLD: streetTRACKS Gold
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Last: 62.44+1.40+2.29%
4:15pm 08/21/2006
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GLD62.44, +1.40, +2.3%) rose by 2.2% to close at $62.38, the iShares Silver Trust ETF (SLV: ishares silver trust ishares
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Last: 124.12+3.52+2.92%
4:11pm 08/21/2006
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SLV124.12, +3.52, +2.9%) added 2.9% to close at $124.12, and the Market Vectors-Gold Miners ETF (GDX: market vectors etf tr gold miner etf
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Last: 40.29+1.91+4.98%
4:07pm 08/21/2006
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GDX40.29, +1.91, +5.0%) climbed by 5% to end at $40.29.
Myra P. Saefong is a reporter for MarketWatch in San Francisco.
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