U.S. Markets June 13-19

Stock markets turned up modestly in the United States during the reporting period June 13-19, thanks to buying support in the middle of the week that lifted stock prices off recent lows. Money went first into the blue chips: the Dow Jones Industrial Average rose 1.4%, to 10,942.11, at the same time that the more broadly based Standard & Poor’s 500 index was rising 0.3%, to 1,240.14.

Metal prices recovered during the period as well, though they seem to have settled into a more reasonable range. That helped the major producers in both metal sectors to post gains, but just as investors in the broader market had gone first to the biggest companies, so did buyers in the metals sectors.

The new broad indicator in the U.S. gold equity market, the Amex Gold Miners Exchange Traded Fund, was down US18 during the period at US$33.60, having hit bottom at US$31.82 on June 13. The two biggest gold miners were higher, with Newmont Mining up US64 at US$49.16 and AngloGold Ashanti up US$1.39 at US$41.42. Other than AngloGold, the South African producers fell back, with Gold Fields down US14 at US$17.26, Harmony Gold Mining down US37 at US$12.57, and DRDGold down a nickel at US$1.16.

Randgold Resources, just returned to the Financial Times’ FTSE gold index, was among the winners in the mid-tier, rising US28 to US$17.97. Another was Minas Buenaventura, which was US2 better at US$25.26. Elsewhere, middle-sized gold producers lagged behind the big boys, with Hecla Mining off US19 at US$4.27 and Coeur d’Alene Mines sliding US20 to US$4.12.

The base metal miners, whose sellers must have been tapped out after the recent slide, were almost uniformly better. Anglo American did the best in proportion to price, rising US58 to US$18.00, while Companhia Vale do Rio Doce was US51 better at US$21.05. The winner among the copper- sensitive stocks was Southern Peru Copper, which rose US83 to US$73.60, but Freeport-McMoRan Copper & Gold was more typical of the group, tacking on US26 to finish at US$46.97.

U.S. greatest percentage change

		VOLUME(000S)	HIGH	LOW	CLOSE	CHANGE
Lafayette Mng*	LYMGF	40	0.08	0.05	0.08	+33.3
Peru Copper*	CUP	5313	5.37	3.66	5.05	+23.1
Newgold*	NGLD	956	0.35	0.265	0.31	+16.9
Shoshone Silv*	SHSH	109	0.22	0.18	0.21	+16.6
Northw Min Vt*	NWTMF	2528	0.53	0.35	0.47	+14.6
Tanz Roy Exp*	TRE	2285	8.15	6.10	7.71	+14.5
Cream Mnrls*	CRMXF	171	0.40	0.30	0.40	+14.2
US Gold*	USGL	1394	8.20	5.75	7.60	+13.1
Minera Andes*	MNEAF	2485	1.15	0.85	1.07	+12.6
Intl Coal Gp*	ICO	7115	7.48	6.42	7.28	+11.4
Patriot Gold*	PGOL	703	0.23	0.13	0.14	-39.1
Commerce Grp*	CGCO	107	0.15	0.09	0.10	-33.3
Great China M*	GCHA	649	0.185	0.13	0.13	-25.7
Puda Coal*	PUDC	105	4.15	3.00	3.28	-22.8
Magnus Intl R*	MGNU	285	2.18	1.75	1.81	-18.4
McKenzie Bay*	MKBY	365	0.47	0.38	0.40	-18.3
Pac Gold*	PCFG	2368	0.41	0.35	0.35	-16.6
Polymet Mng*	POMGF	2003	2.83	2.30	2.45	-16.6
Goldspring*	GSPG	29520	0.012	0.01	0.011	-15.3
Brookmount Ex*	BMXI	56	0.075	0.06	0.06	-14.2

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Rio Tinto*	RTP	2294900	196.86	+6.84
Potash C Sask*	POT	3415200	82.76	+3.58
Yanzhou Coal*	YZC	306200	33.11	+2.09
AngloGold Ash*	AU	8361300	41.42	+1.39
Fording C C T*	FDG	3063200	32.48	+1.28
Tanz Roy Exp*	TRE	2284800	7.71	+0.98
Peru Copper*	CUP	5313000	5.05	+0.95
US Gold*	USGL	1393783	7.60	+0.88
Mosaic*	MOS	3387800	14.96	+0.84
Southern Peru*	PCU	7127400	73.60	+0.83
StreetTr Gold*	GLD	17361900	56.36	-3.67
Inco Ltd*	N	7394900	56.84	-2.64
Kerr McGee*	KMG	10830800	49.19	-2.07
Alcan*	AL	9716400	42.19	-2.02
OM Group*	OMG	3166100	26.24	-1.84
Arizona Star*	AZS	70000	9.90	-1.45
Westmoreland*	WLB	156100	23.43	-1.37
Arch Coal*	ACI	13231000	38.44	-1.14
Banro Res*	BAA	26600	8.65	-1.05
Lihir Gold*	LIHRY	367967	39.26	-1.04

U.S. most active issues

		VOLUME(000S)	HIGH	LOW	CLOSE	CHANGE
UNICO Inc*	UNCN	108158	0.002	0.002	0.002	0.00
CVRD*	RIO	37371	22.42	19.63	21.05	+0.51
Newmont Mng*	NEM	30212	50.76	47.34	49.16	+0.64
Goldspring*	GSPG	29520	0.012	0.01	0.011	-0.002
Silverado*	SLGLF	29111	0.089	0.068	0.083	-0.004
Freeport McMo*	FCX	26628	49.70	43.10	46.97	+0.26
Goldcorp*	GG	26235	27.38	24.07	25.61	+0.28
Phelps Dodge*	PD	26173	81.95	72.32	77.07	+0.26
Alcoa*	AA	24212	30.35	28.65	29.10	-0.63
Peabody Enrgy*	BTU	22166	53.57	46.82	49.51	-0.01