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AGORACOM Wire - Wednesday February 15th, 2012

Breaking News ....

Lomiko (LMR: TSX-V) to Complete 43-101 Report on Previous Drilling at the Quatre Milles Graphite Property *CLIENT* Read More

Top Sector Stories ....

Strike Graphite Corp. (TSXV:SRK) Acquires Wagon Graphite Project in Quebec in Vicinity of Timcal's Lac des Iles Graphite Mine *CLIENT* Read More | Profile

Strike Graphite goes "Beyond the Press Release"

McLaren Resources (CNSX:MCL) Drills 7.0 Grams Gold Over 7.4 Metres at the TimGinn Property Located Adjacent to the Hollinger Mine *CLIENT* Read More | Watch Beyond the Press Release

DONNER METALS INTERVIEW: David Patterson Discusses the Bracemac-McLeod Mine Development Beyond the Press Release

AGORACOM Launches GraphiteStocksBlog.com

We're proud to announce the launch of GraphiteStocksBlog.com a website dedicated to the needs of investors and companies in the fast growing Graphite industry.

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Message: EARLY TRADING ALERT - Today's Big Movers

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EARLY TRADING ALERT - Today's Big Movers

posted on Feb 11, 09 04:59AM

ADDED: 1:27pm

Kinbauri Gold (KNB:TSX-V)
0.47 +0.05 (11.90%), Vol. 48,2000
Click here to access the Kinbauri Gold IR Hub

____________________________________...

Seabridge Gold (SA:AMEX; SEA-TSX)
15.29 +1.58 (8.03%), Vol. 135,960
Click here to access the Seabridge Gold IR Hub

____________________________________...

GOLD

Gold rises to near $930 as safety buying continues

By Moming Zhou, MarketWatch

Last update: 9:43 a.m. EST Feb. 11, 2009

NEW YORK (MarketWatch) -- Gold futures rose Wednesday for a second session, climbing near $930 an ounce to the highest level in nearly two weeks as investors continued to buy the metal amid doubts on new economic rescue plans unveiled in the U.S.

Gold for February delivery was last up $11.30, or 1.2%, at $925 an ounce on the Comex division of the New York Mercantile Exchange. It rose to $929 earlier, the loftiest intraday level since Jan. 30. Trading more actively, the April contract rose 1.3% to $926 an ounce.

Gold gained more than 2% in the previous session after the Treasury Secretary Timothy Geithner introduced a new plan to rescue the ailing banking sector. The Senate also passed an $838 billion stimulus package Tuesday by a 61-37 vote.

Markets, however, cast doubts on the plans. Stocks and crude oil prices tumbled, while safe haven buying pushed up gold and Treasury securities, as well as the U.S. dollar.

It's the "flight to safety, pure and simple," said Jon Nadler, senior analyst at Kitco Bullion Dealers.

Crude oil rebounded Wednesday, recouping part of Tuesday's losses, while U.S. stock futures were flat as unease continued over the lack of details surrounding the Treasury's plan.

If gold breaks the $930 mark, it could rise to as high as $950 an ounce in the short term, said Ashraf Laidi, chief market strategist at London-based CMC Markets. Most analysts are projecting gold to rise above $1,000 this year, as safe-haven buying and demand for gold as a hedge against inflation are expected to continue.

Holdings of SPDR Gold Trust, the largest exchange-traded fund backed by gold, hit a new record high of 894.72 tons as of Tuesday, up 1.5% from a day earlier, according to the latest data from the fund. The total was higher than that reported a month earlier by a margin of nearly 110 tons, or 14%.

Other metals were mixed Tuesday. March copper slid 2.9% to $1.53 a pound, while March silver rose 1% to $13.255 an ounce. March palladium gained 0.5% to $213.15 an ounce, and the April contract for sister metal platinum added 2% to $1,056 an ounce.