-- Posted Wednesday, 16 June 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1229.30 | -$2.70 |
Silver | $18.43 | -$0.13 |
XAU | 178.71 | +0.99% |
HUI | 470.06 | +1.00% |
GDM | 1424.25 | +0.93% |
JSE Gold | 2532.25 | +15.60 |
USD | 86.15 | +0.19 |
Euro | 123.08 | -0.15 |
Yen | 109.39 | UNCH |
Oil | $77.67 | +$0.73 |
10-Year | 3.282% | -0.028 |
T-Bond | 123.6875 | +0.375 |
Dow | 10409.46 | +0.05% |
Nasdaq | 2305.92 | +0.00% |
S&P | 1114.61 | -0.06% |
The Metals:
Gold traded mostly slightly higher in Asia and London and rose to as high as $1237.63 around the open of trade in New York, but it then chopped its way back lower into the close and ended near its early afternoon low of $1226.93 with a loss of 0.22%. Silver climbed to as high as $18.65 in Asia and fell to as low as $18.37 in late morning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.7%.
Euro gold rose to about €999, platinum lost $7.65 to $1563.50, and copper remained at about $3.00.
Gold and silver equities rose about 1% by midday and remained near their highs into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Housing Starts | May | 593K | 655K | 659K |
Building Permits | May | 574K | 631K | 610K |
PPI | May | -0.3% | -0.5% | -0.1% |
Core PPI | May | 0.2% | 0.1% | 0.2% |
Capacity Utilization | May | 74.7% | 74.4% | 73.7% |
Industrial Production | May | 1.2% | 0.8% | 0.7% |
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose after the EIA reported that oil inventories rose 1.7 million barrels, gasoline inventories fell 700,000 barrels, and distillates rose 1.8 million barrels.
The U.S. dollar index and treasuries pared early gains and ended only slightly higher as the Dow, Nasdaq, and S&P shrugged off disappointing housing data and ended near unchanged.
Among the big names making news in the market today were Fannie Mae, Freddie Mac, GM, FedEx, Extended Stay, Starwood, and BP.
GATA Posts:
James Turk: Hyperinflation likelihood is increasing
The Statistics:
Activity from: 6/15/2010
Gold Warehouse Stocks: | 10,791,845 | -32 |
Silver Warehouse Stocks: | 119,583,197 | +827,448 |
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 | 1306.137 | 41,993,616 | US$51,829m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.31 | 3,964,646 | US$4,887m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,991 | US$562m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 48.06 | 1,545,219 | US$1,885m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,974 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.13 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 84.96 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9208.83 - No change from yesterday’s data.
The Miners:
Midway’s (MDW) closed equity placements, ITH’s (THM) resource update, Banro’s (BAA) shipped plant and signed agreements, Aurcana’s (AUN.V) revenues, Excellon’s (EXN.TO) drill results, Aura Silver’s (AUU.V) exploration results, and Silver Quest’s (SQI.V) commenced drilling were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Rubicon | RBY +5.50% $3.45 |
2. IAMGOLD | IAG+4.38% $18.34 |
3. Banro | BAA +4.15% $2.01 |
LOSERS
1. Northern Dynasty | NAK -3.01% $7.41 |
2. NovaGold | NG -2.43% $6.82 |
3. Lihir | LIHR -1.96% $36.05 |
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:
Mawson increases claim holding and releases NI43-101 technical report at the Rompas gold-uranium project, Finland - More
- June 16, 2010 | Item | ShareThis
New Dawn Makes Major Investment to Expand Position in Zimbabwe Gold Mining Industry - More
- June 16, 2010 | Item | ShareThis
AM Gold Releases Inferred Gold Resource, Red Mountain Project, Yukon Territory, Canada - More
- June 16, 2010 | Item | ShareThis
Aurcana Corporation Reports 54% Higher Revenues in Q1, 2010 Compared to Q1, 2009 and Provides La Negra and Shafter Updates - "For the three months ended March 31, 2010, the Company posted consolidated net sales of $4,677,771 (2009: $3,037,037), earnings from mining operations of $610,434 (2009: $64,384) and consolidated net earnings of $701,540 (2009: net loss of $879,946) which includes the effects of a foreign exchange gain of $1,291,315 (2009: loss of $292,566)." More
- June 16, 2010 | Item | ShareThis
First Point Provides Update for Exploration on the Decar Nickel-Iron Alloy Property - More
- June 16, 2010 | Item | ShareThis
Abington's Treasure King Work Program Outlined - More
- June 16, 2010 | Item | ShareThis
Huldra Silver Inc. Announces Appointment of New President and CEO - More
- June 16, 2010 | Item | ShareThis
Canadian Mining Plans for Expansion and Diversification - More
- June 16, 2010 | Item | ShareThis
Copper Ridge Explorations Inc. - Drilling commences at Duke Island, Alaska - More
- June 16, 2010 | Item | ShareThis
GoldCorp Holding, Co. (GHDC) Receives First Lease Payment From Silver Falcon Mining, Inc. - More
- June 16, 2010 | Item | ShareThis
Volta Commences Drilling Program to Follow-Up High-Grade Gold Targets at its Nassara Prospect, Gaoua Project, in Burkina Faso - More
- June 16, 2010 | Item | ShareThis
American Manganese Inc.: Short Form Prospectus Offering of Units Closes - More
- June 16, 2010 | Item | ShareThis
Pacific Comox Raises $250,000 for Mabel Test Leaching - More
- June 16, 2010 | Item | ShareThis
Noront signs historical exploration agreement with Webequie First Nation - More
- June 16, 2010 | Item | ShareThis
James Bay Resources Appoints Mr. Mike Sylvestre as Director - More
- June 16, 2010 | Item | ShareThis
Terra Ventures Inc.: High Grade Uranium Intersections at Roughrider Bolstered by Recoveries of Up to 98.9% in Metallurgical Leach Tests - More
- June 16, 2010 | Item | ShareThis
New Island Recieves Unsolicited Takeover Bid From Anaconda Mining and Engages Financial and Legal Advisors - More
- June 16, 2010 | Item | ShareThis
Lund Gold Ltd.: Blackfox Property Summer Program Update - More
- June 16, 2010 | Item | ShareThis
Oromin Explorations Ltd.: Update-Santa Rosa Oil and Gas Project - More
- June 16, 2010 | Item | ShareThis
Orezone Gold Corporation: Positive Results Continue From Bombore Infill and Expansion Drilling - More
- June 16, 2010 | Item | ShareThis
Capella Announces Non-Brokered Private Placement to Raise Up to $2,025,000 - More
- June 16, 2010 | Item | ShareThis
Mineral Deposits Limited: Grande Côte Definitive Feasibility Study Results - More
- June 16, 2010 | Item | ShareThis
i-minerals inc. Receives Idaho State Board of Land Commissioners Approval of Surface Lease Agreement With Idaho Department of Lands - More
- June 16, 2010 | Item | ShareThis
Fire River Gold Announces High Grade Gold Results Nixon Fork Gold Mine, Alaska: 27 g/t (0.79 opt) Gold Over 24.0 m (78.7 ft) - More
- June 16, 2010 | Item | ShareThis
SNS Continues Gold Intercepts at Emerald Lake - More
- June 16, 2010 | Item | ShareThis
Quadra FNX Provides an Update on State Grid International Development MOU - More
- June 16, 2010 | Item | ShareThis
AmeriLithium Receives $500,000 Draw Down on $10,000,000 Finance Agreement to Accelerate Domestic Exploration - More
- June 16, 2010 | Item | ShareThis
Hinterland Intersects Up to 5.9gpt Gold Over 3.0m in Panache Gold Zone at Lockout Project, Quebec - More
- June 16, 2010 | Item | ShareThis
Capella Announces Non-Brokered Private Placement to Raise Up to $2,025,000 - More
- June 16, 2010 | Item | ShareThis
Arcus Announces Flow-Through Financing and Expansion of Yukon Land Package - More
- June 16, 2010 | Item | ShareThis
Denarii Acquires Gold Property - More
- June 16, 2010 | Item | ShareThis
Gitennes completes equity financing - More
- June 16, 2010 | Item | ShareThis
Douglas Lake Signs Agreement for the Entire Mkuvia Gold Project - More
- June 16, 2010 | Item | ShareThis
Manicouagan Minerals Begins Initial Diamond Drill Program on Pickle Lake East Property - More
- June 16, 2010 | Item | ShareThis
Mercer Gold Releases NI 43-101 Technical Report for Its Guayabales Gold Project, Marmato Gold District, Colombia - More
- June 16, 2010 | Item | ShareThis
Quaterra Announces Commencement of Drilling at SW Tintic, Duke Island and Willow Creek Projects - More
- June 16, 2010 | Item | ShareThis
Ireland Inc. to Present at Sidoti Micro Cap Conference - More
- June 16, 2010 | Item | ShareThis
Great Western Minerals Group Grants Options - More
- June 16, 2010 | Item | ShareThis
Mineralization Remains Open at Nevada Copper's North Deposit: Intersecting 90.5 Feet of 1.37% Copper and 135.0 Feet of 0.88% Copper - More
- June 16, 2010 | Item | ShareThis
Crowflight Announces Changes to Board of Directors; King Place Increases Its Investment in Crowflight - More
- June 16, 2010 | Item | ShareThis
Eloro Commences Phase 2 Drilling Program to Test New Discoveries at Megastar's Simkar Gold Property, Val-d'Or (Quebec) - More
- June 16, 2010 | Item | ShareThis
Spanish Mountain Gold Acquires Cedar Mountain Property - More
- June 16, 2010 | Item | ShareThis
Ruby Creek Acquires the Exclusive Mineral and Mining Rights of the Entire Mkuvia Gold Project From Douglas Lake in Transaction Valued at $6 Million - More
- June 16, 2010 | Item | ShareThis
Castillian Enters Into Letter Agreement to Sell the Kagera Nickel Project in Tanzania to Innovance Ltd. - More
- June 16, 2010 | Item | ShareThis
Hathor Exploration Limited: High Grade Uranium Intersections at Roughrider Bolstered by Recoveries of Up to 98.9% in Metallurgical Leach Tests - More
- June 16, 2010 | Item | ShareThis
Northland Resources S.A.: William S Wagener Retires as EVP Finland - More
- June 16, 2010 | Item | ShareThis
Sacre-Coeur Reports Further Stepout Drilling Results for Zone 1 Hard-Rock Deposit at Million Mountain Project in Guyana: 68.65 M @ 0.94 g/t Au - More
- June 16, 2010 | Item | ShareThis
Oroco Files NI 43-101 Technical Report for Cerro Prieto Project - More
- June 16, 2010 | Item | ShareThis
Excellon Announces Additional High-Grade Drilling Results at Platosa & Completes the Phase 1 Drilling Program at Miguel Auza - "Excellon Resources Inc. (TSX:EXN - News) is pleased to announce assay results for three additional holes at its Platosa Property. Holes LP775, 780 and 781 continued drilling off the northwest portion of the 6A/6B Mantos and intersected 1.51, 1.75 and 3.04 metres (m) of high-grade massive and semi-massive sulphides respectively. Hole 781 reported 1,141 g/t (33 oz/T) Ag, 6.57% Pb, 14.97% Zn over 3.04 m. This area remains open to the northwest parallel to a major structure that is closely related to the high-grade massive sulphides being mined from the Guadalupe and 6A/6B Mantos and is accessible from existing mine infrastructure." More
- June 16, 2010 | Item | ShareThis
Midway Gold Closes C$6.6 Million Equity Placements - "Midway Gold Corp. ("Midway" or the "Company") (TSX-V:MDW - News)(AMEX:MDW - News) is pleased to announce that has closed its previously announced unit offerings. Pursuant to the offerings, Midway raised aggregate gross proceeds of C$6.6 million, through the issue of 9,412,000 units through a brokered offering in Canada and the United Kingdom and the issue of 1,666,666 units in a non-brokered offering in the United States. The units were issued at C$0.60 per unit, each unit comprising one common share and one half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of Midway at a price of C$0.80 per share until June 16, 2012." More
- June 16, 2010 | Item | ShareThis
International Tower Hill Announces Resource Update, Livengood Gold Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the results of the independently prepared June 2010 in-situ mineral resource estimate for the Livengood gold project near Fairbanks, Alaska (Table 1). The independent study incorporates all drill results received through May 25, 2010, a total of 420 diamond and reverse circulation holes, totalling 121,212 metres. This resource update, calculated at a 0.7 g/t cutoff grade which the Company envisions as a possible milling cut-off grade, expands the size of the deposit and increases the average grade, thereby highlighting the growing economic potential of the Livengood gold system." More
- June 16, 2010 | Item | ShareThis
Aura Silver Extends Silver Zone to Over 300 Meters - Encounters Significant Gold Values in Limestone - "Aura Silver Resources Inc. (TSX VENTURE:AUU - News; "Aura Silver" or the "Company") is pleased to provide results from its ongoing silver and gold exploration at its Higo Blanco project located in the Taviche district, Oaxaca, Mexico. New results include hole HBET-23 with 238.7 grams per tonne (g/t) silver equivalent over 19.3 meters which extends the overall length established for the Higo Blanco silver trend by about 50 meters. A newly discovered gold zone in Hole HBET-24 includes 2.05 g/t gold (Au) over 8.35 meters (including 4.9 g/t over 2.25 meters)." More
- June 16, 2010 | Item | ShareThis
Silver Quest Commences Drilling at Boulevard, Yukon - "Silver Quest Resources Ltd. (TSX VENTURE:SQI - News; the "Company") is pleased to announce that the 2010 Drill program has commenced at the Boulevard Project ("Boulevard"). Boulevard is located 135 kilometres south of Dawson City, 35 kilometres south of the Golden Saddle Deposit and 10 kilometres southwest of Kaminak's recent discovery on its Coffee property. The Boulevard property consists of 238 claims, totaling 4,975 ha." More
- June 16, 2010 | Item | ShareThis
Banro ships gold plant from Australia and signs milestone agreements with Luhwindja Community and the artisanal miners at Twangiza - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to announce that the reconditioned gold processing plant, which the Company acquired in 2009 for re-assembly at its wholly-owned Twangiza gold project in the Democratic Republic of the Congo (the "DRC"), was shipped from Australia and is scheduled to arrive at the Port of Mombassa, Kenya in July. The plant will then be transported by truck in 140 forty-foot containers to the Twangiza site, where assembly will begin once civil construction for the plant has been completed. An additional set of containers, holding newly engineered components for the process plant, will be shipped to site from South Africa." More
- June 16, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Wednesday, 16 June 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Slightly
