-- Posted Monday, 2 November 2009 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1053.80 | +$14.00 |
Silver | $16.35 | +$0.10 |
XAU | 158.25 | +1.03% |
HUI | 394.64 | +0.96% |
GDM | 1182.23 | +1.16% |
JSE Gold | 2432.11 | +53.96 |
USD | 76.22 | -0.17 |
Euro | 147.67 | +0.55 |
Yen | 110.77 | -0.19 |
Oil | $78.13 | +$1.13 |
10-Year | 3.422% | +0.030 |
T-Bond | 119.8125 | -0.34375 |
Dow | 9789.44 | +0.79% |
Nasdaq | 2049.19 | +0.20% |
S&P | 1042.88 | +0.65% |
The Metals:
Gold steadily rose throughout most of world trade to as high as $1062.65 by about 10AM EST before its fell back off a bit into the close, but it still ended with a gain of 1.35%. Silver climbed as much as $0.45 to $16.70 by about 10:30AM EST before it also fell back off in the last few hours of trade, but it still ended with a gain of 0.62%.
Euro gold rose to about €713, platinum gained $9 to $1329, and copper rose slightly to about $2.96.
Gold and silver equities rose over 2% at the open and nearly 4% by midmorning before they fell back off in early afternoon trade to see slight losses by around 2PM EST, but they then rallied back higher into the close and ended with about 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Construction Spending | Sep | 0.8% | -0.2% | -0.1% |
ISM Index | Oct | 55.7 | 53.0 | 52.6 |
Pending Home Sales | Sep | 6.1% | 0.0% | 6.4% |
Tomorrow at 10AM EST brings the Factory orders report for September expected at 0.9%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed over 1% higher on strong economic data that raised hopes for energy demand.
The U.S. dollar index and treasuries fell as the Dow, Nasdaq, and S&P climbed over 1% higher in early trade on much better than expected economic data before the major indices dipped to see slight losses midday on worries over the financials, but bonds and the dollar still ended lower as worries eased in afternoon trade and helped all threes indices close with modest gains on the day.
Among the big names making news in the market today were Humana, Ford, CIT Group, Bank of America, and Clorox.
The Commentary:
“Dear CIGAs,
The so called quick surgical bankruptcy of CIT will result in a company that will only be able to provide 20% of its previous level of financial services to Middle America according to Friday’s Wall Street Journal.
Any institutions replacing these services will have:
1. Higher levels of credit worthiness to be met by small business.
2. Less funds committed to these loans.
Further, the assets of CIT in bankruptcy are the middle American loans outstanding that will be brutally attacked by the bankruptcy process.
That is going to result in a flood of middle American businesses declaring bankruptcy.”- Jim Sinclair, JSMineset.com
GATA Posts:
James Turk: Take the long view for gold and silver
Does Saudi Arabia have the clout to destroy Nymex?
Trace Mayer: Gold bug bit the Tudor
Retailing lender CIT files prepackaged bankruptcy
Gold and economic freedom: GATA interview
Ambrose Evans-Pritchard: Worry about Japan, not America
Michael Berry: To avoid more dependence, U.S. must develop its resources
A small report from the front in the gold war
Congressman from Bank of America guts Fed audit bill
Ron Paul interviewed by King World News
Silver market analyst Ted Butler interviewed by King World News
Eric de Carbonnel: Gold market reaching the breaking point
King World News interviews GATA's Douglas on 'imaginary' gold
Jason Hommel: Objections to Fekete's and Salinas Price's coinage ideas
Antal Fekete: One hundred years of legal tender laws
The Statistics:
Activity from: 10/30/2009
Gold Warehouse Stocks: | 9,421,310 | +64 |
Silver Warehouse Stocks: | 113,681,260 | -3,627,012 |
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 | 1103.519 | 35,479,245 | US$37,665m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 132.25 | 4,250,013 | US$4,479m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.37 | 460,351 | US$487m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 52.69 | 1,694,090 | US$1,762m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,987 | US$5m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.915 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.83 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 8,744.00 - No change from yesterday’s data.
The Miners:
Taseko’s (TGB) reserve increase, Apollo Gold’s (AGT) assay results, New Gold’s (NGD) clarified mine information, Banro’s (BAA) project update, IAMGOLD’s (IAG) feasibility study plans, ITH’s (THM) assay results, AngloGold’s (AU) output, and Alberta Star’s (ASX.V) term sheet with Sterling Mining to acquire a controlling interest in Sterling and its assets were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Reserve | GRZ +21.79% $1.23 |
2. Richmont | RIC +15.33% $3.16 |
3. Taseko | TGB+11.50% $3.0327 |
LOSERS
1. Timberline | TLR -7.94% $1.16 |
2. Nevsun | NSU -2.25% $2.61 |
3. DRDGOLD | DROOY-1.70% $5.77 |
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:
Icon Commences Drilling at the Hog Ranch Project and Substantially Expands its Land Position - More
- November 02, 2009 | Item | E-mail
Victoria Announces the Sale of the Clear Creek Exploration Property to Golden Predator - More
- November 02, 2009 | Item | E-mail
Metanor shares drop after accident at Quebec mine - More
- November 02, 2009 | Item | E-mail
GWR Increases Private Placement to $550,000 - More
- November 02, 2009 | Item | E-mail
Seafield Appoints James Paterson to Board of Directors - More
- November 02, 2009 | Item | E-mail
Taseko Announces a New 7.7 Million Oz Gold and 3.6 Billion Lb Copper Reserve at Prosperity - "Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") is pleased to announce a 70% increase in mineral reserves at its 100% owned Prosperity Project, from 487 million tonnes to 830 million tonnes." More
- November 02, 2009 | Item | E-mail
Madison Closes Non-Brokered Private Placement - More
- November 02, 2009 | Item | E-mail
Golden Predator Acquires Clear Creek Project, Yukon Territory - More
- November 02, 2009 | Item | E-mail
A Strategic Committee For Rare Earths Will Advise Matamec's Board Of Directors! - More
- November 02, 2009 | Item | E-mail
Trevali Resources Corp.: Surface Sampling Significantly Expands Puajanca Zone - More
- November 02, 2009 | Item | E-mail
Canarc Arranges CA$40,000 in Private Placement Financing - More
- November 02, 2009 | Item | E-mail
Castle Resources Acquires Horseshoe Property As Part of Strategic Move into the Stewart Mining Camp, British Columbia - More
- November 02, 2009 | Item | E-mail
New Geochemical Target Identified at Paragon's Lake Douglas VMS Project - More
- November 02, 2009 | Item | E-mail
Rocmec Obtains Shareholder Approval for Acquisition of Rocmec International Inc. - More
- November 02, 2009 | Item | E-mail
Searchlight Minerals Corp. Clarkdale Project Update - More
- November 02, 2009 | Item | E-mail
PolyMet Achieves Key Milestone With EIS on Public Notice - More
- November 02, 2009 | Item | E-mail
Soltoro Trenching Program at El Rayo Returns 7.5 Metres of 5.3 gpt Gold & 44 Metres of 65 gpt Silver - More
- November 02, 2009 | Item | E-mail
Imperial Metals Corporation: Drilling at Red Chris Continues to Intercept Long Intervals of Copper/Gold Mineralization - More
- November 02, 2009 | Item | E-mail
Waseco Resources Inc.: AREVA Completes $2 Million Earn-In - More
- November 02, 2009 | Item | E-mail
Goldcorp Declares Eleventh Monthly Dividend Payment for 2009 - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) is pleased to declare its eleventh monthly dividend payment for 2009 of $0.015 per share. Shareholders of record at the close of business on Thursday, November 12, 2009 will be entitled to receive payment of this dividend on Friday, November 20, 2009." More
- November 02, 2009 | Item | E-mail
Drilling Intersects 84.7 g/t Silver at New Dimension's Reese River Silver Project, Nevada - More
- November 02, 2009 | Item | E-mail
Romarco appoints Marsden to Board of Directors - More
- November 02, 2009 | Item | E-mail
Columbia Yukon Signs Traditional Knowledge Protocol with First Nations - More
- November 02, 2009 | Item | E-mail
Pure Nickel Exploration Update - More
- November 02, 2009 | Item | E-mail
Exploration update Croxall Gold project, West Timmins - More
- November 02, 2009 | Item | E-mail
Kiska Drills 106.9 Metres of 1.22 g/t Gold at Island Mountain Area, Whistler, Alaska - More
- November 02, 2009 | Item | E-mail
MDN Inc.: Preliminary Results on Tulawaka's Underground Drilling - More
- November 02, 2009 | Item | E-mail
Silver Quest Announces PR & Marketing Contract - More
- November 02, 2009 | Item | E-mail
International PBX Ventures Completes Preliminary Assessment on Its Copaquire Copper-Molybdenum-Rhenium Project in Chile - More
- November 02, 2009 | Item | E-mail
Galahad Metals Increases Land Position at Regcourt Gold Property - More
- November 02, 2009 | Item | E-mail
WGR - Wits Gold - Trading update - More
- November 02, 2009 | Item | E-mail
Drilling at Breznik Intersects High Grades and Extends Length of High Grade Zone by 70% - More
- November 02, 2009 | Item | E-mail
USEC Names Gerald Prudom American Centrifuge Project Technical Director - More
- November 02, 2009 | Item | E-mail
Metals Creek Resources Joins the "AGORACOM 100" and Launches Online IR and Marketing Program - More
- November 02, 2009 | Item | E-mail
GoldSpring Receives Permit - More
- November 02, 2009 | Item | E-mail
Cortez Receives Conditional Approval for Proposed Qualifying Transaction With Seabridge Gold and Files Filing Statement - More
- November 02, 2009 | Item | E-mail
Messina Minerals Inc. Acquires New Zinc Property at Daniels Harbour NL - More
- November 02, 2009 | Item | E-mail
Rockcliff Commences ZTEM Airborne Survey on Snow Lake VMS Project - More
- November 02, 2009 | Item | E-mail
DIOS Completes Track Sampling of Its New Godzila Uranium Discovery on Hotish, QC - More
- November 02, 2009 | Item | E-mail
Inmet Mining Announces the Appointment of Jochen Tilk as Chief Executive Officer - More
- November 02, 2009 | Item | E-mail
Duran Ventures Provides Exploration Update on the Aguila Copper and Molybdenum Project - More
- November 02, 2009 | Item | E-mail
Great Quest Completes $2.36 Million Agreement on Its Kenieba Concessions With Avion Gold Corporation - More
- November 02, 2009 | Item | E-mail
Amerigo Announces Q3-2009 Financial Results - More
- November 02, 2009 | Item | E-mail
International Millennium Mining & First Mexican Resources Sign Letter of Intent to Change Their Interests in Sonora Mexico Properties - More
- November 02, 2009 | Item | E-mail
Alberta Star to Acquire Controlling Interest in the Sterling Mining Company - "Alberta Star Development Corp. (the "Company") (TSX-V:ASX - News)(OTC.BB:ASXSF - News)(Frankfurt:QLD - News) is pleased to announce that it has entered into a binding term sheet (the "Agreement") with Sterling Mining Company ("Sterling") whereby the Company has entered into a binding agreement to acquire a controlling interest in Sterling and its assets and provide for financing of Sterling's ongoing operations." More
- November 02, 2009 | Item | E-mail
Far West Mining Closes $10,000,000 Private Placement - More
- November 02, 2009 | Item | E-mail
Miranda Gold Acquires District Scale Gold Play in Alaska - More
- November 02, 2009 | Item | E-mail
Great Western Minerals Group Announces the Appointment of the Honourable Bill McKnight as Director - More
- November 02, 2009 | Item | E-mail
OTCBB-VHGI Acquires Treasure Gulch Gold Mine Lease-Purchase Option - More
- November 02, 2009 | Item | E-mail
Aura Minerals Appoints New Director and Chief Operating Officer - More
- November 02, 2009 | Item | E-mail
Oro Gold Reports on Its Cimarron Project, Sinaloa, Mexico - More
- November 02, 2009 | Item | E-mail
Denison Mines Corp. Third Quarter 2009 Results Conference Call Thursday, November 12, 2009 - More
- November 02, 2009 | Item | E-mail
Avion Acquires Option to Earn 75% Interest in an Inferred Gold Resource of 324,000 Ounces - More
- November 02, 2009 | Item | E-mail
Yukon-Nevada Gold Corp requests support from its shareholders for issuance of inducement warrants - More
- November 02, 2009 | Item | E-mail
Tournigan Closes $5.5 Million Dalradian Sale - More
- November 02, 2009 | Item | E-mail
Noront Resources awards infrastructure and transportation study to SNC-Lavalin - More
- November 02, 2009 | Item | E-mail
Central Closes $550,000 Private Placement - More
- November 02, 2009 | Item | E-mail
Cameco Reports Third Quarter Earnings - More
- November 02, 2009 | Item | E-mail
U.S. Antimony Announces Soyatal Mexico Antimony Deposit - More
- November 02, 2009 | Item | E-mail
PC Gold Hits Bonanza-Grade 3.27 oz/ton Gold Over 3.8 Feet (112.15 g/t Over 1.15 Metres) in Deep Drilling at Pickle Crow - More
- November 02, 2009 | Item | E-mail
Bayswater Finds New Uranium Occurrences and Defines Drill Targets Along Significant Uranium Trend at Boiteau Lake, Central Mineral Belt, Labrador - More
- November 02, 2009 | Item | E-mail
Wits Basin Provides Update on Iron Ore Joint Venture in China - More
- November 02, 2009 | Item | E-mail
Wallbridge Mining Intersects 17.8 metres of Sulphides on Parkin Property in Sudbury - More
- November 02, 2009 | Item | E-mail
Bard Ventures Ltd.: 2009 Drilling Commences - More
- November 02, 2009 | Item | E-mail
Paladin Energy Ltd Appoints New Chief Financial Officer - More
- November 02, 2009 | Item | E-mail
Black Hawk Exploration Approves Geologists Recommended Drill Program to Explore for Lithium Bearing Brines on Clayton Valley Claims - More
- November 02, 2009 | Item | E-mail
Recognizing Higher Long Term Gold Outlook, Greystar Resources to Consider Alternative Processing Methods to Boost Economic Returns - More
- November 02, 2009 | Item | E-mail
Uruguay Mineral Exploration Inc.: Reschedule of Definitive Agreement with Fortune Valley - More
- November 02, 2009 | Item | E-mail
Three miners missing after Metanor gold mine floods - More
- November 02, 2009 | Item | E-mail
Running Fox Nine Month Revenues, EBITDA Earnings Up - More
- November 02, 2009 | Item | E-mail
Aurion Completes Financing - More
- November 02, 2009 | Item | E-mail
MetalCORP Announces Management Transition - More
- November 02, 2009 | Item | E-mail
Selkirk Shareholders Approve Merger with Imperial Metals Corporation - More
- November 02, 2009 | Item | E-mail
Augen Gold Corrects September 11, 2009 Press Release and Announces Grant of Options - More
- November 02, 2009 | Item | E-mail
Gold-Ore Reports Third Quarter Financial and Operational Results - More
- November 02, 2009 | Item | E-mail
Majescor-Filing of Second Quarter Financials - More
- November 02, 2009 | Item | E-mail
Duncan Park Completes Private Placement - More
- November 02, 2009 | Item | E-mail
Pelangio Exploration Makes Option Payments on The Obuasi Property - More
- November 02, 2009 | Item | E-mail
Apollo Gold Announces Additional Assay Results for its Grey Fox Drilling Program - "The drilling program commenced on August 10, 2009 and to date 34 holes have been completed. Assay results were released on the first seven holes (GF09-17 through GF09-23) on October 16, 2009. Apollo is pleased to provide assay and drill holes information on another 6 drill holes (GF09-24 through GF09-29) which are set out below. The location of all drill holes are shown in Figure 1." More
- November 02, 2009 | Item | E-mail
Cameco 3rd-quarter operating profit falls - More
- November 02, 2009 | Item | E-mail
New Gold Clarifies Recent Misinformation Regarding its Cerro San Pedro Mine - "New Gold is a welcome member of the Cerro de San Pedro community and has demonstrated its commitment to corporate social responsibility through meaningful support to our schools, health services and infrastructure improvement," stated Mr. Santos Loredo Tenorio, President of the Cerro de San Pedro Municipality. "The company's contribution to sustainable community development and our future is greatly appreciated." More
- November 02, 2009 | Item | E-mail
Banro provides update on construction preparation and exploration at its Twangiza gold project - "Banro reports progress in all aspects of planning and preparation for the construction of "Phase I" at the Twangiza project, including staffing and logistics, detailed plant design and layout, access road planning, power and fuel supply, raw water supply and tailings management." More
- November 02, 2009 | Item | E-mail
IAMGOLD Announces Approval to Proceed With Sadiola Deep Sulphide Feasibility Study and Offer to Purchase IFC Share in Sadiola - "IAMGOLD Corporation ("IAMGOLD" or "the Company")(TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) is pleased to announce the Societe D'Exploitation Des Mines D'Or De Sadiola ("SEMOS"), owner of the Sadiola Gold Mine in Mali, West Africa, board approval to proceed with the $9 million Sadiola Deep Sulphide Feasibility Study." More
- November 02, 2009 | Item | E-mail
International Tower Hill Continues to Expand the Livengood Gold Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX-V:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce assay results for 31 new drill holes at its Livengood project, Alaska. The new results continue to expand the deposit on multiple fronts and confirm thick zones of mineralization including: The Sunshine Zone (MK-RC-0267: 117 metres @ 1.2 g/t gold), The Northeast Zone (MK-RC-0261: 114 metres @ 0.9 g/t gold) and The Money Knob Zone (MK-RC-0262: 104 metres @ 1.0 g/t gold)." More
- November 02, 2009 | Item | E-mail
AngloGold posts 3rd-qtr loss on hedge revamping - "AngloGold Ashanti, /quotes/comstock/13*!au/quotes/nls/au (AU 38.05, +0.51, +1.36%) the Johannesburg gold miner, reported a third-quarter adjusted loss of $596 million, or $1.65 a share, reflecting a restructuring of its hedges. Excluding the cost of buying back those hedges, adjusted earnings were $163 million, the company said in a statement on Monday." More
- November 02, 2009 | Item | E-mail
AngloGold Ashanti Output Up 5% on Geita, Vaal River Turnarounds - "We continue to make breakthroughs in effecting the turnaround at Geita,'' Chief Executive Officer Mark Cutifani said. "We've also made some strong safety gains at our Vaal River operations, an area that continues to be our top priority." More
- November 02, 2009 | Item | E-mail
AngloGold cuts output target on suspended mine - "AngloGold Ashanti (ANGJ.J), the world's No.3 gold producer, lowered its annual production target for the second straight quarter after suspending output at a South African mine for safety checks.
Africa's top gold producer also reported on Monday it swung to a better-than-expected headline loss for the third quarter on costs related to trimming its hedge book as well as stronger currencies, rising wages and power charges." More
- November 02, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted Monday, 2 November 2009 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Roughly 1%
