-- Posted Wednesday, 23 June 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1233.80 | -$6.15 |
Silver | $18.46 | -$0.41 |
XAU | 180.21 | +0.26% |
HUI | 479.12 | +0.47% |
GDM | 1446.02 | +0.35% |
JSE Gold | 2546.10 | -21.01 |
USD | 85.79 | -0.30 |
Euro | 123.15 | +0.47 |
Yen | 111.28 | +0.87 |
Oil | $76.35 | -$1.50 |
10-Year | 3.115% | -0.051 |
T-Bond | 125.34375 | +0.59375 |
Dow | 10298.44 | +0.05% |
Nasdaq | 2254.23 | -0.33% |
S&P | 1092.04 | -0.30% |
The Metals:
Gold rose in London to see a $6.23 gain at $1246.18 at around 7AM EST before it fell to see a $15.27 loss at $1224.68 by about 10AM EST in New York, but it then rallied back higher in the last few hours of trade and ended with a loss of just 0.5%. Silver climbed to $18.96 and fell to $18.315 before it also rallied back higher, but it still ended with a loss of 2.17%.
Euro gold fell about €1007, platinum lost $23.50 to $1562, and copper fell over 5 cents to about $2.94.
Gold and silver equities fell almost 2% at the open, but they then rallied back higher for most of the rest of trade and ended with slight gains.
The Economy:
Report | For | Reading | Expected | Previous |
New Home Sales | May | 300K | 430K | 446K |
Half of all modified mortgages redefault within a year Yahoo
The FOMC kept the fed funds rate in its record low range of 0.00% to 0.25% and made no indication of raising rates anytime soon.
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 6/19 expected at 460,000, first quarter GDP expected at 3.0%, the GDP Deflator expected 1.0%, and Durable Goods Orders expected at -1.3%. Excluding transportation, orders are expected at 1.3%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell after the Energy Information Administration reported that crude inventories rose 2 million barrels. Gasoline stocks fell 800,000 barrels and distillates rose 300,000 barrels.
The U.S. dollar index rose on risk aversion in early trade after New Home Sales disappointed, but it then turned markedly lower following the fed’s announcement as the Dow, Nasdaq, and S&P reversed early losses and settled near unchanged on the fed’s continued pledge to keep rates low.
Treasuries pared early gains after today’s $38 billion 5-year note auction drew a yield of 1.995% with a bid to cover of 2.58, but they then climbed back higher following the fed’s less than rosy outlook for the US economy.
Among the big names making news in the market today were BP, Cytori, and Philip Morris.
The Commentary:
“June gold options expire tomorrow. Guess what? Those who said I see the b-line down today on the Comex should also know by now that this is the regular thievery that takes place just about every month. The bandits may win an occasional battle but have long ago lost the war (if you listened to people like http://www.gata.org you would’ve known this for years).
I’ve told you so many times that the world hates gold and you’re never going to see mainstream Wall Street and the media that lives off it be bullish on gold. But, every time you hear one of them “pan” gold, just take out this chart and remind yourself that since gold became free trading it has greatly outperformed their favorite puppy – the stock market.”- Peter Grandich, Grandich Letter
GATA Posts:
Jeffrey Nichols: Looking behind the Saudi gold holdings increase
Peter Grandich: The farce and the fact
Jim Richter: Central bankers care a lot about gold, their deadly enemy
Erste Group Bank gold report cites market manipulation
The Statistics:
Activity from: 6/22/2010
Gold Warehouse Stocks: | 10,858,751 | +1,609 |
Silver Warehouse Stocks: | 115,229,876 | -340,500 |
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 | 1313.135 | 42,218,589 | US$51,765m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 122.79 | 3,947,651 | US$4,869m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,955 | US$564m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 48.42 | 1,556,764 | US$1,924m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,974 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR 5.172 tonnes to a new record high holding and the LSE added 0.31 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:
Timberline’s (TLR) due date extension on its convertible loan, US Gold’s (UXG) rill results, Royal Gold’s (RGLD) price offering, MAG Silver’s (MVG) continuation of its shareholder rights plan, Arian Silver’s (AGQ.V) approved resolutions at its AGM, and Revett’s (RVM.TO) exploration results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Vista Gold | VGZ +4.79% $1.75 |
2. Golden Star | GSS +4.50% $4.41 |
3. US Gold | UXG+3.85% $4.85 |
LOSERS
1. Royal Gold | RGLD-5.17% $48.63 |
2. Paramount | PZG -3.50% $1.38 |
3. Mines MGMT | MGN -2.93% $1.99 |
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:
Sanatana Signs Letter of Intent to Acquire Gold Exploration Properties in the Whitegold District of the Yukon Territory - More
- June 23, 2010 | Item | ShareThis
Ventana Drills 1.9 Metres of 541.8 Grams Per Tonne Gold and 1,089 Grams Per Tonne Silver at La Bodega and Announces Resource Statement - More
- June 23, 2010 | Item | ShareThis
Mandalay Resources receives final approval to graduate to TSX - More
- June 23, 2010 | Item | ShareThis
Wits Gold to commence seismic survey - More
- June 23, 2010 | Item | ShareThis
SearchGold Will Not Consolidate its Shares - More
- June 23, 2010 | Item | ShareThis
Infill Drilling Program Making Progress at Panoro's Antilla Project Joint Venture, Peru - More
- June 23, 2010 | Item | ShareThis
Drilling Continues to Intersect High Grades at Gora Prospect, Senegal Including 7 Metres Grading 32 g/t Gold - More
- June 23, 2010 | Item | ShareThis
AM Gold Inc.: Announces Changes to Board of Directors and Appointment of a New President and CEO - More
- June 23, 2010 | Item | ShareThis
New Guinea Gold: Update on Crater Mountain Project, Papua New Guinea - More
- June 23, 2010 | Item | ShareThis
TerraX options Stewart Gold-Copper Property, Burin Peninsula, Newfoundland - More
- June 23, 2010 | Item | ShareThis
Malaga Announces the Closing of the Second Tranche of a $5.4 Million Private Placement - More
- June 23, 2010 | Item | ShareThis
IGC Resources Inc.: Termination and Surrender of Blackburn Project Sub-Leases - More
- June 23, 2010 | Item | ShareThis
Greenock Resources: PTM Minerals Kakanda Copper Cobalt Project Update - More
- June 23, 2010 | Item | ShareThis
Mining tax in focus as Australia PM faces challenge - "Australian Prime Minister Kevin Rudd said he would call a leadership ballot for Thursday after a challenge by his deputy Julia Gillard, backed by disgruntled government members fearing electoral defeat later this year." More
- June 23, 2010 | Item | ShareThis
Abitex and Continental Nickel intersect new sulphide zones at the St. Stephen project in New Brunswick - More
- June 23, 2010 | Item | ShareThis
Foundation Resources Management Changes - More
- June 23, 2010 | Item | ShareThis
Marifil Enters Into San Roque Agreement With NovaGold - More
- June 23, 2010 | Item | ShareThis
Melkior Director Mr. Baril Resigns, Agrees to Consult - More
- June 23, 2010 | Item | ShareThis
Lithium One Retains Peter Grandich for Public Relations and Marketing Services - More
- June 23, 2010 | Item | ShareThis
Universal Gold Mining Corp. Announces Additional Closing of Private Placement - More
- June 23, 2010 | Item | ShareThis
The Typhoon-Aurizon Tandem Begins $3.5 Million Worth of Exploration Work on the Fayolle Project - More
- June 23, 2010 | Item | ShareThis
Valencia Enters Into Revised Royalty Agreement - More
- June 23, 2010 | Item | ShareThis
Avino Silver and Gold Mines Ltd.: San Gonzalo Bulk Sampling Program Update - More
- June 23, 2010 | Item | ShareThis
Paragon Minerals and Golden Dory Expand Mosquito Hill Gold Deposit - More
- June 23, 2010 | Item | ShareThis
Colibri Resource Corporation acquires the Colibri, Ramard and Leon projects, and completes ground magnetometer survey of Leon Project - More
- June 23, 2010 | Item | ShareThis
Sparton in Financing Discussions With Dundee Resources Limited - More
- June 23, 2010 | Item | ShareThis
Royal Roads announces highlights of the AGM - More
- June 23, 2010 | Item | ShareThis
Stronghold Announces SEDAR Filing of National Instrument Compliant 43-101 Report on Tucuma Property - More
- June 23, 2010 | Item | ShareThis
Orezone Arranges C$5M Private Placement for Brighton Energy - More
- June 23, 2010 | Item | ShareThis
Xmet Commences Operations on the Duquesne-Ottoman Property - More
- June 23, 2010 | Item | ShareThis
TintinaGold Announces Changes in Board of Directors - More
- June 23, 2010 | Item | ShareThis
Canada Lithium Corp. listed on senior TSX Exchange - More
- June 23, 2010 | Item | ShareThis
Magellan Drills 32.1m @ 1.05g/t Gold at Moreira Gomes, Cuiu Cuiu Project, Brazil - More
- June 23, 2010 | Item | ShareThis
Great Quest Expands Phosphate Concession Areas in Mali to 737 sq km - More
- June 23, 2010 | Item | ShareThis
Spanish Mountain Gold Provides Update on Spanish Mountain Project - More
- June 23, 2010 | Item | ShareThis
Ascot Resources Ltd. Drilling Intersects 7.33 g/t Au Over 12.79 Meters at Premier Unicorn Zone - More
- June 23, 2010 | Item | ShareThis
Vaaldiam Advances Kenyan Asset Sale - More
- June 23, 2010 | Item | ShareThis
Magellan Drills 32.1m @ 1.05g/t Gold at Moreira Gomes, Cuiu Cuiu Project, Brazil - More
- June 23, 2010 | Item | ShareThis
AmeriLithium's CEO Visits Nevada-Based Lithium Properties with VP Exploration & Chief Geologist and Chief Mining Advisor - More
- June 23, 2010 | Item | ShareThis
Apollo Solar Energy Engages Chief Technical and Business Advisor - More
- June 23, 2010 | Item | ShareThis
Lithium Corporation Update - More
- June 23, 2010 | Item | ShareThis
Early Warning Report Filed in Respect of Millrock Resources Inc. - More
- June 23, 2010 | Item | ShareThis
Victoria Gold Corp. Provides Update on Activities - More
- June 23, 2010 | Item | ShareThis
Mega Uranium Ltd.: Lake Maitland Uranium Project Update - More
- June 23, 2010 | Item | ShareThis
Augen Gold Corp. Announces Shareholder Consent for Exercise of Warrants - More
- June 23, 2010 | Item | ShareThis
Golden Hope Mines Intersects Quartz Bearing Structures at Beland - More
- June 23, 2010 | Item | ShareThis
Radius Gold Acquires Geothermal Energy Concessions in Guatemala - More
- June 23, 2010 | Item | ShareThis
General Moly Announces Significant Milestone in Mt. Hope Permitting Effort - More
- June 23, 2010 | Item | ShareThis
Mercer Gold Corp. Announces Edward Flood as a Director of the Company - More
- June 23, 2010 | Item | ShareThis
Adex Announces Appointment of Michael Boyd to the Board of Directors and Grant of Options - More
- June 23, 2010 | Item | ShareThis
Eskay Mining Increases Flow-Through Offering and Closes Second Tranche of Flow-Through and Working Capital Offering - More
- June 23, 2010 | Item | ShareThis
Alpha Gold's Independent NI 43-101 Defines the Copper-Gold Canyon Creek Skarn Deposit at Lustdust, BC - More
- June 23, 2010 | Item | ShareThis
Continental Nickel Intersects New Sulphide Zones at the St. Stephen Nickel-Copper Sulphide Project in New Brunswick - More
- June 23, 2010 | Item | ShareThis
NEVADO Starts Summer Exploration Program Along the 7.5 Kilometre Iron-Titanium-Vanadium Corridor on the La Blache Property, Baie-Comeau (Quebec) - More
- June 23, 2010 | Item | ShareThis
Energizer Continues to Receive Positive Results on Green Giant Vanadium Project in Madagascar; Engages Vanadium Expert - More
- June 23, 2010 | Item | ShareThis
Franconia Minerals Extends Birch Lake Copper-Nickel-PGM Deposit With Drill Hole Intersecting 130 Feet of 1.34% Copper Equivalent - More
- June 23, 2010 | Item | ShareThis
Abacus Mining Announces Overwhelming Shareholder Approval for Joint Venture with KGHM - More
- June 23, 2010 | Item | ShareThis
Capstone Reports Mineral Resource Estimate for Minto East and Resumption of Drilling - More
- June 23, 2010 | Item | ShareThis
Wallbridge Mining resumes drilling on Parkin PGE-copper-nickel with $1.3M commitment from Impala Platinum - More
- June 23, 2010 | Item | ShareThis
Temex announces option payment on Croxall Property West Timmins gold district, Ontario - More
- June 23, 2010 | Item | ShareThis
Duluth Metals Returns 2.2% Copper Equivalent Over 75 Feet at Nokomis Central Area - More
- June 23, 2010 | Item | ShareThis
HudBay Discovers Additional Gold and Copper at Lalor - More
- June 23, 2010 | Item | ShareThis
American Manganese Reports Large Thicknesses of Manganese Mineralization - More
- June 23, 2010 | Item | ShareThis
Intrepid Mines Limited: Paulsens Sale-Proxy Voting - More
- June 23, 2010 | Item | ShareThis
Li3 Energy Geophysical Study Identifies Potential Mineral Rich Brine Aquifers on Its Pocitos Salar Property, Salta, Argentina - More
- June 23, 2010 | Item | ShareThis
Black Hawk Exploration to Engage ALS Minerals for Phase 2 Dun Glen Gold Assays - More
- June 23, 2010 | Item | ShareThis
MAG Silver Shareholder's Approve Continuation of Shareholder Rights Plan - "MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG" or the "Company") announced today that at its annual general and special meeting (the "Meeting") held on June 22, 2010, MAG's shareholders approved the continuation of the Company's shareholder rights plan (the "Rights Plan") dated August 3, 2007 (and as amended on March 24, 2009). The vote by shareholders was 65.13% in favour of the continuation. The purpose of the Rights Plan is to encourage the fair treatment of shareholders in connection with any take-over bid for the Company. The Rights Plan provides shareholders with adequate time to properly assess a take-over bid without undue pressure. It is also intended to provide the board of directors with more time to fully consider an unsolicited take-over bid and, if considered appropriate, to identify, develop and negotiate other alternatives to maximize shareholder value. A copy of the Rights Plan is available under MAG's profile on SEDAR at http://www.sedar.com/ and on EDGAR at http://www.sec.gov/." More
- June 23, 2010 | Item | ShareThis
Arian Silver-AGM Result and Statement - "Arian Silver Corporation ("Arian Silver" or the "Company") (TSX VENTURE:AGQ - News; AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A - News) a silver exploration and development company with a focus on projects in the silver belt of Mexico, announces that all the resolutions proposed at the Annual General Meeting ("AGM") held earlier today were duly approved by shareholders." More
- June 23, 2010 | Item | ShareThis
Timberline Announces Extension of Due Date on Convertible Loan - "Timberline Resources Corporation (NYSE Amex:TLR) (TSX-V:TBR - News) ("Timberline") is pleased to announce that it has extended the due date of its outstanding $5 million convertible note with Small Mine Development, LLC ("SMD") until April 30, 2012." More
- June 23, 2010 | Item | ShareThis
US Gold Corporation: El Gallo Expanded at Depth & to the West - "US GOLD CORPORATION (AMEX:UXG - News)(TSX:UXG - News) is pleased to announce results from sixteen new core holes (Fig. 1, Table 1) at the El Gallo Project in Sinaloa State, Mexico. These holes will be included in El Gallo's initial resource estimate due in two weeks. The results below demonstrate that El Gallo continues to increase in size and that several zones appear to be merging into a single enlarged zone." More
- June 23, 2010 | Item | ShareThis
Revett Reports Encouraging Exploration Program at Troy Mine - "Revett Minerals Inc. (TSX:RVM - News; OTCBB:RVMIF - News; "Revett" or the "Company") is pleased to announce encouraging results from its exploration program in and around the Troy Mine, including discovery of the highest grade intercept yet drilled in the "I-Beds" (24 feet of 1.99 ounces per ton silver & 0.43% copper) beneath the current mine workings." More
- June 23, 2010 | Item | ShareThis
Royal Gold Announces Pricing of Common Stock Offering - "Royal Gold, Inc. (NASDAQ:RGLD - News) (TSX:RGL - News) announced today the pricing of its public offering of common stock pursuant to the Company’s shelf registration statement filed with the Securities and Exchange Commission and a shelf prospectus filed with certain Canadian securities regulatory authorities. The Company has agreed to sell 5.2 million shares at a price of $48.50 per share. The Company has granted the underwriters a 30-day option to purchase up to 780,000 additional shares of common stock to cover over-allotments, if any. Proceeds to the Company from the offering, net of commission and expenses, are expected to be approximately $240.3 million (assuming the underwriters’ over-allotment option is not exercised). The offering is expected to close on Monday, June 28, 2010, subject to customary closing conditions." More
- June 23, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Wednesday, 23 June 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall 0.5% and 2%
