-- Posted Wednesday, 2 June 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1220.00 | -$5.00 |
Silver | $18.28 | -$0.25 |
XAU | 177.03 | +2.32% |
HUI | 462.33 | +1.96% |
GDM | 1397.51 | +1.93% |
JSE Gold | 2536.73 | -35.60 |
USD | 86.74 | -0.05 |
Euro | 122.39 | +0.11 |
Yen | 108.53 | -1.35 |
Oil | $72.82 | +$0.28 |
10-Year | 3.334% | +0.038 |
T-Bond | 122.90625 | -0.4375 |
Dow | 10249.54 | +2.25% |
Nasdaq | 2281.07 | +2.64% |
S&P | 1098.38 | +2.58% |
The Metals:
Gold fell back off in London to as low as $1213.85 by about 10AM EST before it rallied back to almost unchanged near $1225 at around noon, but it then fell back off into the close and ended with a loss of 0.41%. Silver fell to as low as $18.075 by about 9AM before it climbed back higher for most of the rest of trade, but it still ended with a loss of 1.35%.
Euro gold rose to about €997, platinum lost $9 to $1543, and copper fell a couple of cents to about $3.03.
Gold and silver equities rose roughly 2% by early afternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Pending Home Sales | Apr | 6.0% | 4.3% | 7.1% |
Tomorrow at 8:15AM EST brings ADP Employment for May expected at 56,000. At 8:30 is first quarter productivity expected at 3.4%, Unit Labor Costs expected at -1.6%, and Initial Jobless Claims for 5/29 expected at 455,000. At 10AM are Factory Orders for April expected at 1.7% and ISM Services for May expected at 55.6.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
The U.S. dollar rose versus the yen after Japanese Prime Minister Yukio Hatoyama resigned and left his seat open for someone likely to favor a weaker yen, but a stronger euro dragged the dollar index slightly lower by the close.
Oil rose and treasuries fell on better than expected home sales data that sent the Dow, Nasdaq, and S&P nicely higher.
Among the big names making news in the market today were Prudential, Moody’s, AT&T, Chrysler, Nasdaq, Charming Charlie, and Dow Chemical.
GATA Posts:
Iran said to be selling euros to buy dollars and gold
Coin Update News uncovers U.S. Mint's secret gold pricing policy
James Turk: Gold hurdles to new record highs
Christopher Barker: How to get physical with gold
The Statistics:
Activity from: 6/01/2010
Gold Warehouse Stocks: | 10,736,090 | -675 |
Silver Warehouse Stocks: | 119,513,528 | +61,655 |
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 | 1268.234 | 40,775,006 | US$49,521m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 122.13 | 3,926,718 | US$4,805m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 476,062 | US$559m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 45.51 | 1,463,232 | US$1,778m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,975 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.304 tonnes to a new record high holding and the LSE subtracted 0.01 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 84.22 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,258.42 - No change from yesterday’s data.
The Miners:
IAMGOLD’s (IAG) fatal accident, Tanzanian Royalty’s (TRE) gold recovery, Great Basin’s (GBG) project update, Kimber’s (KBX) Preliminary Assessment, Goldcorp’s (GG) mine sale, and Silver Wheaton’s (SLW) amended silver purchase agreement were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. US Gold | UXG +4.40% $4.03 |
2. Buenaventura | BVN+4.24% $36.85 |
3. Fronteer | FRG +4.15% $5.77 |
LOSERS
1. Richmont | RIC -4.18% $4.81 |
2. Mines MGMT | MGN -1.92% $2.04 |
3. Entree | EGI -1.73% $2.044 |
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:
IAMGOLD Corporation: Fatal Accident at Niobec Mine - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) regrets to report the death of an employee in an accident this morning at its Niobec Mine, 25 kilometres northwest of Chicoutimi, Quebec. Investigations are underway by the Company and the Commission de la Sante et de la Securite du Travail du Quebec (CSST)." More
- June 02, 2010 | Item | ShareThis
Wildcat Announces Additions to Exploration Properties in Guyana by Mammoth Minerals; Appoints CFO of Riva Gold; and Grants Stock Options - More
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Gold Resource Corporation Announces Gold Discovery Intercepting 9.9g/t Gold and 598g/t Silver Over 0.73 Meters in New Area of El Aguila Project - More
- June 02, 2010 | Item | ShareThis
Dia Bras Reports Progress at the La Cascada High-Sulfidation Gold Prospect at the Bolivar Property - More
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Rio Alto Mining Limited: J.P. Morgan Asset Mangement (UK) Ltd. Placement, Management Realignment and Exercise of Warrants - More
- June 02, 2010 | Item | ShareThis
Small-Cap Gold Producer, Razor Resources Inc., Launches Online Investor Relations and Marketing Program - More
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Anaconda and New Island Settle Arbitration Claim - More
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Nuinsco Announces Positive Gold Grades from First Assays at Olympian Project - More
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Rosia Montana Gold Corporation Will Receive the Approvals For the Cetate and Corna Dams From the Ministry of Environment - More
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Alturas Minerals Signs New Joint Venture Agreement With Minera IRL on the Huaquirca Copper-Gold District - More
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MDN Acquires a Gold Exploration Project in Quebec - More
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Coro Closes Non-Brokered Private Placement - More
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Diamond Frank Exploration Discovers a New Rare Earth Showing on the Blackrock Property - More
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Excalibur Completes Second Tranche of Private Placement - More
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Some Central American countries put breaks on mining - "Four Central American countries, fearing environmental and political fallout from mining, have called for a halt to new projects, even as gold prices soar and copper prices rebound." More
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Paget Minerals Completes Acquisition of Mt. Bisson Rare Earth Property - More
- June 02, 2010 | Item | ShareThis
Rencore Emerges With Proven Discovery Team - More
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Terra Ventures Inc.: New Mineralization Discovered in Area 3 at Roughrider, With Assays up to 26.5 m of 3.55% U3O8, including 6.0 m of 14.46% U3O8 - More
- June 02, 2010 | Item | ShareThis
Compass Gold Receives Dandoko Permit and Provides Work Program Update - More
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Eagle Plains and Partners Launch Aggressive Exploration Season with Wildhorse Drill Program - More
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MacDonald Mines Engages VMS-Nickel-Copper-PGE Expert for Ring of Fire Properties - More
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MBMI Partners' FTAA Application Approved - More
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Kilo Drilling Includes 34.80 Metres Grading 3.04 g/t Gold on the Somituri Project, Part of a Wide Mineralized Gold-Bearing System - More
- June 02, 2010 | Item | ShareThis
Full Metal Commences Drilling at the High Grade LWM Deposit and on the Recently Discovered Silver-Rich Targets at the Fortymile Project, Alaska - More
- June 02, 2010 | Item | ShareThis
Oromin Explorations Ltd.: Exploration Drilling Continues to Generate Excellent Results From Numerous Gold Deposits and Targets - More
- June 02, 2010 | Item | ShareThis
Northern Shield intersects 70 meters of Copper Mineralization at Wabassi, and up to 705 g/t silver - More
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Mineral Hill now second largest land holder next to Canada Lithium in Val d'Or Quebec - More
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Bell Copper Corporation - Kabba drillhole K-9 update - More
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Paragon and Crosshair Report Initial Gold Recoveries of 98% From Jaclyn Main Deposit - More
- June 02, 2010 | Item | ShareThis
Century Mining Appoints VP Geology - More
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Santa Fe Metals to Sell 40% Interest in Cuatro Cienegas Property for US$5million - More
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Silver Falcon Mining, Inc. (SFMI) Appoints CFO - More
- June 02, 2010 | Item | ShareThis
Cohen Independent Research Group Sets $5.22 as Best Case Target Price for Silver America, Inc. - More
- June 02, 2010 | Item | ShareThis
Helio Intersects New Zone of Gold Mineralisation at Porcupine Target - SMP Gold Project, Tanzania - More
- June 02, 2010 | Item | ShareThis
AndeanGold Proposes Share Consolidation - More
- June 02, 2010 | Item | ShareThis
Crosshair Reports Initial Gold Recoveries of 98% at Golden Promise - More
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Garibaldi Exploration Update on Hyperspectral Target Evaluations at Tonichi/Onovas in Sonora State, Mexico - More
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Trevali Announces Approval of Shareholders Rights Plan - More
- June 02, 2010 | Item | ShareThis
Cortez Closes $1M Financing - More
- June 02, 2010 | Item | ShareThis
International Enexco Ltd. Reports Updated Pre-Feasibility Study for the Contact Copper Project, Nevada - More
- June 02, 2010 | Item | ShareThis
Tombstone Exploration Receives State Approval for Five Additional Silver/Gold Exploration Permits - More
- June 02, 2010 | Item | ShareThis
Deal Reached Between Norvista and Vior - More
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Klondex to Review Nevada High-Grade Gold Program at Vancouver Conference June 6 - 7th - Booth 508 - More
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Magma Metals Limited: Final Results From Thunder Bay North Infill Drilling - More
- June 02, 2010 | Item | ShareThis
Uranium Energy Corp Acquires Historic Drill Results for Seager-Salvo Project in South Texas - More
- June 02, 2010 | Item | ShareThis
Colossus Minerals Commences Exploration on New Ground in the Serra Pelada Gold-Platinum-Palladium Project, Brazil - More
- June 02, 2010 | Item | ShareThis
Nord Resources to Explore Financial and Strategic Alternatives; Appoints FTI Corporate Finance to Assess Potential Opportunities - More
- June 02, 2010 | Item | ShareThis
Uranium Resources, Inc. Sells Part of Its Extensive Geologic Database for $250,000 in Cash - More
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Brazil Gold Completes Amazonia Acquisition - More
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Peregrine Drills 112 Metres of 1.54% Cu and 86 Metres of 1.14% Cu at Altar - More
- June 02, 2010 | Item | ShareThis
Continental Nickel Outlines its 2010 Exploration Program at the Nachingwea Nickel-Copper Sulphide Project in Tanzania - More
- June 02, 2010 | Item | ShareThis
Oro Gold Extends Taunus Gold Zone Another 60 Metres at Trinidad Project, Mexico - More
- June 02, 2010 | Item | ShareThis
Adex Provides Update on North Zone Tin, Indium, Zinc Bench Scale Concentrate Project - More
- June 02, 2010 | Item | ShareThis
Fjordland Expands Tak Gold-Copper Property Portfolio, Central B.C. - More
- June 02, 2010 | Item | ShareThis
Trueclaim Exploration Inc. Signs Agreement to Acquire Past Producing High-Grade Silver Mine in Globe, Arizona - More
- June 02, 2010 | Item | ShareThis
Continental Gold Begins 2010 Drill Program at Buritica Gold Project, Colombia - More
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Hathor Exploration Limited: New Mineralization Discovered in Area 3 at Roughrider, With Assays Up to 26.5 m of 3.55% U3O8, Including 6.0 m of 14.46% U3O8 - More
- June 02, 2010 | Item | ShareThis
Canadian Zinc Corporation: Prairie Creek Environmental Assessment Advances to Next Stage - More
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Tanzanian Royalty Announces 94.50% Average Gold Recovery from Preliminary Metallurgical Test Work at Kigosi Project - "Tanzanian Royalty Exploration Corporation is pleased to announce that preliminary metallurgical test results show high gold recoveries from the in-situ quartz rubble-bed associated with the Company's Kigosi Gold Project in Tanzania." More
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Great Basin Provides Update on Burnstone Mine Project - "Great Basin Gold Ltd. ("Great Basin" or the "Company") (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces that it is making good progress in the delivery of its capital projects at its Burnstone Project in South Africa." More
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Kimber announces positive preliminary assessment for Monterde gold-silver project, Mexico - "Kimber Resources Inc. (NYSE AMEX:KBX, TSX:KBR) is pleased to announce that it has received the results of an independent Preliminary Assessment ("PA") prepared by Micon International Ltd., with assistance by Kirkham Geosystems Ltd., Knight Piésold Consulting Ltd. and various consultants employed directly by Kimber, on its 100% owned Monterde project, located in Mexico's Sierra Madre mining district. This National Instrument 43-101 compliant PA is based on the revised mineral resource estimate for the Carmen and Veta Minitas deposits at Monterde detailed in the NI 43-101 technical report by Micon International and released on December 8, 2009. The PA was prepared based on a combination of open pit and underground mining for mill feed and a focus on the high grade gold-silver mineralization at the Monterde deposits." More
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Silver Wheaton announces amended silver purchase agreement in conjunction with Goldcorp's proposed sale of the San Dimas mine - "Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX, NYSE:SLW) announces that it has agreed to amend its silver purchase agreement relating to the San Dimas mine, in conjunction with Goldcorp Inc.'s ("Goldcorp") proposed sale of the mine to Mala Noche Resources Corp. ("Mala Noche"). Under the terms of a binding letter agreement between Mala Noche and Goldcorp ("the Purchase Agreement"), effective June 2, 2010, Mala Noche has agreed to purchase Goldcorp's San Dimas mine ("San Dimas"), located in Mexico, for total consideration of US$500 million, subject to a number of conditions, including the completion of a proposed equity financing by Mala Noche to raise net proceeds of a minimum of US$350 million in cash (see Goldcorp and Mala Noche press releases dated June 2, 2010)." More
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Goldcorp Announces Sale of San Dimas Mine - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) today announced that Goldcorp subsidiaries have entered into a binding letter agreement to sell the San Dimas gold-silver mine in Mexico to Mala Noche Resources Corp. (TSXV: MLA), a company engaged in acquiring and developing precious metals resource properties. Under the terms of the letter agreement, Goldcorp will receive total consideration of $500 million, consisting of $275 million in cash, $175 million of Mala Noche common shares valued at the offering price of Mala Noche's proposed equity financing and a $50 million promissory note payable over five years which will bear interest at a rate of 6% per annum. Goldcorp's ownership interest in Mala Noche is expected to be approximately 30%." More
- June 02, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Wednesday, 2 June 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Slightly While Stocks Gain Over 2%
