-- Posted Thursday, 20 May 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1188.00 | -$4.70 |
Silver | $17.72 | -$0.41 |
XAU | 164.82 | -4.47% |
HUI | 430.47 | -4.83% |
GDM | 1299.51 | -4.63% |
JSE Gold | 2452.71 | -6.62 |
USD | 85.80 | -0.50 |
Euro | 125.08 | +0.80 |
Yen | 111.60 | +2.51 |
Oil | $68.01 | -$1.86 |
10-Year | 3.264% | -0.095 |
T-Bond | 124.03125 | +1.25 |
Dow | 10068.01 | -3.60% |
Nasdaq | 2204.01 | -4.11% |
S&P | 1071.59 | -3.90% |
The Metals:
Gold dropped in London to see a loss of $17.85 at as low as $1174.85 by about 8:30AM EST before it climbed back higher in New York, but it still ended with a loss of 0.39%. Silver fell 3.66% to as low as $17.466 shortly after the open of trade in New York before it also bounced back higher for a bit, but it still ended with a loss of 2.26%.
Euro gold fell to about €955, platinum lost $92.50 to $1505.50, and copper fell slightly to about $2.94.
Gold and silver equities fell over 4% in the first hour of trade and remained at about that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 5/15 | 471K | 439K | 446K |
Leading Indicators | Apr | -0.1% | 0.2% | 1.3% |
Philadelphia Fed | May | 21.4 | 20.7 | 20.2 |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell and treasuries rose as the Dow, Nasdaq, and S&P dropped roughly 4% on poor economic data and continued worries over problems in Europe.
The U.S. dollar index reversed early gains and turned markedly lower as the euro spiked higher in late trade on rumors over new action coming from the European Central Bank.
Among the big names making news in the market today were Sears, Accretive Health, and ReachLocal.
The Commentary:
May 2010 Comment:
It's the rare little builder that has made his financial house wholly out of gold, whereas those having none at all is the all-too-common state of affairs down at Old MacDonald's farm.
With just a little gold you could have a solid foundation on which to regroup and rebuild. And with just a little more you might have a complete storm shelter in which to calmly endure the winds of change.
The choice is yours. Choose gold -- the 'bacon' you save may soon be your very own.
_______________
To get the latest Ed Stein releases and gold commentary by e-mail join the USAGOLD NewsGroup -- our free news and opinion service.
GATA Posts:
Jeff Nielson: Christian rationalizes what he simultaneously denies
The Statistics:
Activity from: 5/19/2010
Gold Warehouse Stocks: | 10,540,688 | +64,043 |
Silver Warehouse Stocks: | 117,171,462 | -49,894 |
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 | 1220.152 | 39,229,093 | US$46,747m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 121.95 | 3,920,682 | US$4,676m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 476,129 | US$540m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 46.00 | 1,479,089 | US$1,763m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,976 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.044 tonnes to a new record high holding, the LSE subtracted 0.56 tonnes and the JSE subtracted 0.01 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 82.39 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,191.37 - No change from yesterday’s data.
The Miners:
Banro’s (BAA) closed financing, Gold Fields’ (GFI) increase in the Mineral Resource at Hamlet, Pan American’s (PAAS) output boost, and South American Silver’s (SAC.TO) completed offering were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Timberline | TLR+10.58% $1.15 |
2. Entree | EGI +6.22% $2.05 |
3. Richmont | RIC +5.66% $4.54 |
LOSERS
1. Endeavour | EXK -11.47% $3.55 |
2. Solitario | XPL -9.91% $2.09 |
3. Northern Dynasty | NAK -9.87% $6.85 |
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:
Pan American Silver to boost Bolivia output in 2010 - "Pan American Silver (PAA.TO) (PAAS.O) sees the output of its San Vicente mine in Bolivia increasing by nearly 25 percent this year, after surging threefold in 2009, a company executive said on Thursday." More
- May 20, 2010 | Item | ShareThis
General Metals Corporation - Annual Meeting - More
- May 20, 2010 | Item | ShareThis
Abcourt Enlarges its Vezza Gold Property - More
- May 20, 2010 | Item | ShareThis
Prospero Initiates Drilling at the Baborigame, Chihuahua Project - More
- May 20, 2010 | Item | ShareThis
Corriente Resources Inc.: CRCC-Tongguan Advises That All PRC Approvals Have Been Obtained - More
- May 20, 2010 | Item | ShareThis
Acero-Martin Exploration Inc. Announces Name Change and Changes to Board of Directors and Officers - More
- May 20, 2010 | Item | ShareThis
White Mountain - Titanium Samples Distribution and Marketing Update - More
- May 20, 2010 | Item | ShareThis
Finlay Minerals Ltd. - $240,000 Private Placement announced with the MineralFields Group - More
- May 20, 2010 | Item | ShareThis
Volcanic Closes Financing - More
- May 20, 2010 | Item | ShareThis
South American Silver Corp.'s First Quarter President's Message and Project Update - "It is an exciting time at South American Silver Corp. at this point of rapid growth for the Company. Since the announcement of our new higher grade discovery at our Malku Khota Silver-Indium project in late February, and with my appointment as President and CEO, the Company has significantly outperformed both the silver and gold price and the key silver and gold equity indexes." More
- May 20, 2010 | Item | ShareThis
Leading gold miners see ore boost near mines - "Leading gold miners say they see "brownfield" exploration as a low-risk, cost-effective way to boost output in the medium term, as global economic uncertainty could make prices for the yellow metal wobble." More
- May 20, 2010 | Item | ShareThis
Kootenay Gold Inc. - Surface samples grading 37.5 g/t gold & 769.0 g/t silver indicate the potential for a bonanza grade system at the Santa Lucia Gold Property - More
- May 20, 2010 | Item | ShareThis
Liberty Commissions Third Ball Mill at the Redstone Concentrator - More
- May 20, 2010 | Item | ShareThis
Eastmain Resources Inc. Notice of SEDAR Refilings - More
- May 20, 2010 | Item | ShareThis
Brazil Gold Signs Definitive Agreement for Amazonia Mineral Package - More
- May 20, 2010 | Item | ShareThis
Avion Announces First Quarter 2010 Financial Results - More
- May 20, 2010 | Item | ShareThis
Miranda Gold Signs Letter of Intent with SIN Holdings on Redlich Project - More
- May 20, 2010 | Item | ShareThis
Gold-Ore Announces Exploration Plans - More
- May 20, 2010 | Item | ShareThis
Ranger Gold Corp. Completes First Phase of Summer Drilling Programs - More
- May 20, 2010 | Item | ShareThis
Banro closes CDN$137,555,000 financing - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to announce that it has closed the issuance and sale of 67,100,000 common shares of the Company at a price of CDN$2.05 per share for aggregate gross proceeds of CDN$137,555,000 (the "Offering"). The Offering was conducted through a syndicate of underwriters co-led by GMP Securities L.P. and CIBC World Markets Inc. (together, the "Underwriters"). The 67,100,000 common shares issued under the Offering include 6,100,000 common shares issued and sold pursuant to the over-allotment option, which was exercised in full by the Underwriters." More
- May 20, 2010 | Item | ShareThis
Rio Alto Completes First Tranche of Private Placement for $7.5 Million - More
- May 20, 2010 | Item | ShareThis
Victoria Gold Corp. and Na-cho Nyak Dun First Nation Sign MOU on the Eagle Gold Project - More
- May 20, 2010 | Item | ShareThis
Infill Drilling Program Commenced at Panoro's Antilla Project, Peru - More
- May 20, 2010 | Item | ShareThis
AndeanGold Updates its Activities in Ecuador - More
- May 20, 2010 | Item | ShareThis
Forum Uranium Corp.: Henday Returns Uranium Mineralization Within Alteration Halo Identified During Winter Drill Program - More
- May 20, 2010 | Item | ShareThis
REC Minerals Receives Regulatory Approval for Option Agreement With Respect to BC Gold/Silver/Copper Project - More
- May 20, 2010 | Item | ShareThis
Rainy River Provides Drilling Update - More
- May 20, 2010 | Item | ShareThis
Terrane Finalizes Contracts for Long Lead-Time Equipment - More
- May 20, 2010 | Item | ShareThis
Element92 Resources Corp. to Seek NASDAQ Listing - More
- May 20, 2010 | Item | ShareThis
Golden Tag Enters Arbitration Hearings on Mexican Property: May 26th to 28th, 2010 - More
- May 20, 2010 | Item | ShareThis
Alexis Rallies as Second Quarter Improves-Up to 267 g/t Gold Intersections and 8 g/t Gold Average Grades at Lac Herbin - More
- May 20, 2010 | Item | ShareThis
Erin Files for Exploration License on Boron Property - More
- May 20, 2010 | Item | ShareThis
Melkior Drills 107.50g/t Gold and 31.3g/t Silver Over 0.55 Metres in West Timmins - More
- May 20, 2010 | Item | ShareThis
Continental Nickel Appoints MMH Investor Relations Inc. - More
- May 20, 2010 | Item | ShareThis
Kivalliq Drilling Intersects Widest Zone of Radioactive Mineralization to Date at Lac Cinquante - More
- May 20, 2010 | Item | ShareThis
Bellhaven Appoints Ms. Maria Milagros Paredes as CFO - More
- May 20, 2010 | Item | ShareThis
U3O8 Corp. Intersects 2.9 Metres at 0.228% (4.6 Pounds Per Short Ton) U3O8 at Aricheng North, Kurupung Project, Guyana - More
- May 20, 2010 | Item | ShareThis
Harvest Gold Begins Drill Program at Rosebud - More
- May 20, 2010 | Item | ShareThis
American Manganese to File Patent Application for Proprietary Process to Produce Electrolytic Manganese Metal from its Artillery Peak Resources - More
- May 20, 2010 | Item | ShareThis
Candente Gold Begins Exploration Drilling at El Oro - More
- May 20, 2010 | Item | ShareThis
Stepout Drilling Reveals Continuation of Zone 1 Hard-Rock Deposit at Sacre-Coeur's Million Mountain Project in Guyana: 103.6 M @ 1.27 G/T AU - More
- May 20, 2010 | Item | ShareThis
Gold Fields Drills Out 1 Moz Mineral Resource at Hamlet, St Ives - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce a substantial increase in the Mineral Resource at Hamlet, an emerging gold deposit in the Argo-Athena camp at its St Ives Gold Mine in Western Australia." More
- May 20, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Thursday, 20 May 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall With Stocks, Dollar, and Oil
