-- Posted Monday, 12 July 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1198.20 | -$11.30 |
Silver | $17.89 | -$0.15 |
XAU | 173.73 | -0.78% |
HUI | 459.72 | -0.62% |
GDM | 1384.82 | -0.51% |
JSE Gold | 2462.96 | +10.47 |
USD | 84.22 | +0.24 |
Euro | 125.98 | -0.43 |
Yen | 112.87 | -0.01 |
Oil | $75.91 | -$1.14 |
10-Year | 3.046% | -0.010 |
T-Bond | 126.34375 | +0.0625 |
Dow | 10216.27 | +0.18% |
Nasdaq | 2198.36 | +0.09% |
S&P | 1078.75 | +0.07% |
The Metals:
Gold fell to as low as $1195.95 by late morning in New York before it bounced back higher in the last couple of hours of trade, but it still ended with a loss of 0.93%. Silver dropped to as low as $17.756 before it also climbed back higher, but it still ended with a loss of 0.83%.
Euro gold fell to about €951, platinum lost $19.20 to $1506, and copper fell nearly 5 cents to about $3.00.
Gold and silver equities fell about 1% by late morning and remained near that level for the rest of the day.
The Economy:
There were no major economic reports today. Tomorrow at 8:30AM EST brings the Trade Balance for May expected at -$39.4 billion and at 2PM is the Treasury Budget for June expected at -$70.0 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index rose after the euro dropped on worries over European debt sales and bank stress tests this week.
Treasuries retained early gains after today’s $35 billion 3-year note auction drew a record low yield of 1.055% with a bid to cover of 3.2.
The Dow, Nasdaq, and S&P remained mixed and near unchanged as market participants await earnings reports.
Among the big names making news in the market today were Johnson & Johnson, Avon, Playboy, Aon, BP, GE, and Leslie Controls.
GATA Posts:
Tinfoil hats are earned just by questioning central banks
Adrian Douglas: Price suppression follows inevitably from fractional-reserve gold banking
South African metals analyst complains of silver price manipulation
Telegraph notes BIS gold swap mystery, quotes GATA's Douglas
New Orleans is back in Top 10 cities list, so join GATA there
Gene Arensberg: Huge short covering in gold by large commercials
FT's Lex on gold and the BIS: Nothing to see here
Hedge funds look for a golden edge
GoldSeek Radio interviews GATA Chairman Bill Murphy
The Statistics:
Activity from: 7/09/2010
Gold Warehouse Stocks: | 10,960,300 | -136 |
Silver Warehouse Stocks: | 112,783,155 | -1,318,894 |
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 | 1314.515 | 42,262,967 | US$50,938m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.99 | 3,986,415 | US$4,780m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,859 | US$548m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.38 | 1,587,752 | US$1,919m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,973 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.521 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 87.68 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9151.78 - No change from yesterday’s data.
The Miners:
Nevsun’s (NSU) project update, Rubicon’s (RBY) preliminary metallurgical test work results, Ivanhoe’s (IVN) support of its Shareholders' Rights Plan, Great Basin’s (GBG) project update, Allied Nevada’s (ANV) drill results, Semafo’s (SMF.TO) compliance with governance and business standards, Scorpio’s (SPM.TO) mill repairs, Endeavour’s (EXK) director appointment, Bear Creek’s (BCM.V) updated silver resource, and Silver Standard’s (SSRI) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Ivanhoe | IVN+3.07% $14.43 |
2. Northgate | NXG +1.01% $2.99 |
3. Taseko | TGB +0.99% $4.09 |
LOSERS
1. Vista | VGZ-5.66% $1.50 |
2. Exeter | XRA -5.44% $5.91 |
3. US Gold | UXG-5.10% $4.65 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
All of today's gold and silver stock news:
NSGold Corporation provides update on operations - More
- July 12, 2010 | Item | ShareThis
Beaufield Enters Into an Investor Relations Agreement With Hamza Thindal Capital Corporation - More
- July 12, 2010 | Item | ShareThis
Nayarit Gold Inc. Shareholders Approve Business Combination Agreement with Capital Gold Corporation - More
- July 12, 2010 | Item | ShareThis
Adroit Resources Inc.: C$ 400,000 Loan Financing Agreed - More
- July 12, 2010 | Item | ShareThis
Apella Resources Inc.: 11,630,000 Tonnes Fe-Ti-V Averaging 0.73% V2O5 Equiv. Established as First Mineral Resource Estimate for the Iron-T Vanadium-Iron - More
- July 12, 2010 | Item | ShareThis
Nevsun Resources Ltd.: Bisha Project Remains on Schedule and On Budget - "The project continues to be on schedule and on budget. Bisha is advancing well towards plant commissioning phase late this year. After a relatively short commissioning process (60 days) and after reaching commercial production during Q1 2011, the Company expects to produce in excess of 100,000 ounces of gold each quarter at a cost of less than $250 per ounce. With over 95% of procurement completed, project management are comfortable the actual capital cost will be within the budget of approximately $260 million." More
- July 12, 2010 | Item | ShareThis
Wesdome announces intention to make a normal course issuer bid - More
- July 12, 2010 | Item | ShareThis
Asian Mineral Resources Announces Change in Board of Directors - More
- July 12, 2010 | Item | ShareThis
Bullion Monarch's Subsidiary EnShale Energy Files for International Patent Protection in Five Countries - More
- July 12, 2010 | Item | ShareThis
Sparton Named 2010 Best Clean Technology-Asia Company from World Finance Magazine - More
- July 12, 2010 | Item | ShareThis
Gold World Resources Signs Binding Agreement for the Acquisition of Chinese Gold Mine - More
- July 12, 2010 | Item | ShareThis
Tasman Joint Ventures further iron ore projects to Beowulf Mining PLC - More
- July 12, 2010 | Item | ShareThis
Scorpio Mining Resumes Normal Milling Throughput - "The repairs to Ball Mill "A" have been completed and the unit went back on line on Thursday, July 8 2010, one week ahead of schedule. Since then the throughput of the ball mill has been slowly increased to ensure that it is operating correctly. The Corporation anticipates that the processing facility will achieve its budgeted throughput this month." More
- July 12, 2010 | Item | ShareThis
Columbia Yukon Acquires Additional Properties Near its "Storie" Molybdenum Deposit - More
- July 12, 2010 | Item | ShareThis
GobiMin Inc. - New Grant of Stock Options - More
- July 12, 2010 | Item | ShareThis
Far West Mining Increases the Indicated Resource of the Santo Domingo Project (Chile) by 27% to 485 Million Tonnes - More
- July 12, 2010 | Item | ShareThis
Areva Joint-Ventures Waseco's Quebec Trough Uranium Properties - More
- July 12, 2010 | Item | ShareThis
Silver America, Inc. Changes Corporate Name to Gold American Mining Corp. - More
- July 12, 2010 | Item | ShareThis
Eagle Plains/Slater Mining Execute Option Agreement on Karin Lake REE/Uranium Project, Saskatchewan - More
- July 12, 2010 | Item | ShareThis
Plexmar Resources Inc.: Services Contract for Malin Plant - More
- July 12, 2010 | Item | ShareThis
TerraX drills 1.07 m @ 15.1 g/t Au and 8.26 m @ 0.94 g/t Au in first phase drilling at Blackfly Gold Property, Atikokan, Ontario - More
- July 12, 2010 | Item | ShareThis
Equinox Publishes Preliminary Lumwana Production Results for 2nd Quarter 2010 - More
- July 12, 2010 | Item | ShareThis
Galantas Results of Special Meeting - More
- July 12, 2010 | Item | ShareThis
AMEX Grants to Bowmore an Option to Acquire 50% Interest for 1 Million $ in its Nueva Escondida Property in Mexico - More
- July 12, 2010 | Item | ShareThis
Far City Completes Non-Brokered Private Placement - More
- July 12, 2010 | Item | ShareThis
Excalibur Resources Completes $500,000 Flow-Through Private Placement With the Mieralfields Group - More
- July 12, 2010 | Item | ShareThis
La Quinta Resources Announces Drill Program on Its Easter Project - More
- July 12, 2010 | Item | ShareThis
Donner Metals Ltd.: Drilling Extends High-Grade Sulphides at McLeod Deep - More
- July 12, 2010 | Item | ShareThis
Glass Earth Gold Reports 156 Metres at 1.6 g/t Au and 2.6 g/t Ag at WKP Gold-Silver Prospect, Hauraki, New Zealand - More
- July 12, 2010 | Item | ShareThis
New Guinea Gold Announcement: Coppermoly Demonstrates Major Copper System at Nakru-1 With Drill Intersection of 190.85m at 1.01% Copper and 0.36g/t Gold - More
- July 12, 2010 | Item | ShareThis
Southern Arc Announces Issuing of IUP License for Its Taliwang Property - More
- July 12, 2010 | Item | ShareThis
Imperial Metals Corporation: Ruddock Creek Project-Memorandum of Understanding Completed - More
- July 12, 2010 | Item | ShareThis
Majescor Announces: Sunridge Gold Starts Exploration Program at Besakoa Gold-Copper-Zinc Project, Madagascar - More
- July 12, 2010 | Item | ShareThis
Stans Energy Announces Geophysical Results and Identifies First Drill Target for the 'Aktyuz Ore Field' - More
- July 12, 2010 | Item | ShareThis
A New Director Joined Matamec's Board of Directors - More
- July 12, 2010 | Item | ShareThis
Tirex Appoints Mining Engineer, Mr. Fred Sveinson, P.Eng to the Board of Directors - More
- July 12, 2010 | Item | ShareThis
Ironwood Gold Updates Activities at Nevada Gold Properties - More
- July 12, 2010 | Item | ShareThis
Mexus Gold Enters Into Contract to Fund Cable Recovery - More
- July 12, 2010 | Item | ShareThis
Bridgeport Ventures Inc. Commences Phase Two of Drilling Program - More
- July 12, 2010 | Item | ShareThis
Canadian Shield to Prepare NI 43-101 Technical Report on Estrella Gold-Silver Project, Peru - More
- July 12, 2010 | Item | ShareThis
Mountain Lake Completes Non-Brokered Private Placement Financing - More
- July 12, 2010 | Item | ShareThis
Midlands Drills 15 Meters @ 2.2 g/t, and 17 Meters @ 2.1 g/t and Continues to Expand Sian Resource at Depth-Ghana - More
- July 12, 2010 | Item | ShareThis
East Asia Minerals Receives Remaining Gold Assays for EMD033, Expanding Miwah Main Zone With 1.51 g/t Gold Over 270.5 Metres - More
- July 12, 2010 | Item | ShareThis
Golden Hope Mines Resumes Its 2010 Drilling Campaign - More
- July 12, 2010 | Item | ShareThis
First Gold Exploration Retains Resourcex Group to Broaden Company's Market Following - More
- July 12, 2010 | Item | ShareThis
BCGold Corp. Earns 100% Interest in Minto/Carmacks Copper-Gold Properties, Yukon - More
- July 12, 2010 | Item | ShareThis
Northern Gold Appoints Michael Gross as Vice President Exploration and Updates Completion of $2,500,500 Brokered Private Placement - More
- July 12, 2010 | Item | ShareThis
Oro Silver Identifies Five New Target Areas at El Compas Project, Mexico - More
- July 12, 2010 | Item | ShareThis
VG Gold Drills 30.99 GPT Gold over 24.7 Meters at the Paymaster West Project in Timmins, Ontario - More
- July 12, 2010 | Item | ShareThis
Colombian Mines Corporation: Ongoing Core Drilling Encounters Best Intercepts to Date in the Yarumalito Gold-Copper Porphyry and Vein System - More
- July 12, 2010 | Item | ShareThis
Conway Resources Becomes the Owner of the Belleterre Mine - More
- July 12, 2010 | Item | ShareThis
Canaco Intersects 37m at 12.45 Grams Per Tonne Gold at Magambazi Including 23m at 19.14 Grams Per Tonne Gold-More Results to Come - More
- July 12, 2010 | Item | ShareThis
Donner Metals Ltd.: Drilling Extends High-Grade Sulphides at McLeod Deep - More
- July 12, 2010 | Item | ShareThis
Minera IRL Ollachea Pre-Feasibility Study Update - More
- July 12, 2010 | Item | ShareThis
Gold Recoveries between 92.1% and 95.2% in Preliminary Metallurgical Test Work from Rubicon's F2 Gold System, Red Lake, Ontario - "Rubicon Minerals Corporation (RMX:TSX:/RBY:NYSE-AMEX) is pleased to announce positive results from preliminary metallurgical test work performed on several composite samples from the F2 Gold System at its 100% owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold Camp." More
- July 12, 2010 | Item | ShareThis
Endeavour Silver Appoints New Director - "Ricardo Campoy, B.Sc., M.IM., brings to Endeavour's Board a wealth of experience in the mining and financial sectors. Ricardo's international career spans 34 years as a mining engineer, investment banker and financial advisor for the resource industries, financial institutions, and investment funds." More
- July 12, 2010 | Item | ShareThis
Ivanhoe Mines Reaffirms Support for Company's Plan That Protects Shareholders' Rights - "David Huberman, lead independent Director of the Ivanhoe Mines Board of Directors and Chair of the Board's Corporate Governance Committee, said today that the company would continue to support its Shareholders' Rights Plan in an arbitration proceeding initiated by Rio Tinto plc." More
- July 12, 2010 | Item | ShareThis
Great Basin Announces Burnstone Project Update - Site to Receive Eskom Power on August 8, 2010 - "Great Basin Gold Ltd. ("Great Basin" or the "Company") (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces progress in the delivery of the capital projects at its Burnstone Mine development project in South Africa." More
- July 12, 2010 | Item | ShareThis
Allied Nevada Drills 456 Meters Grading 1.58 g/t Gold Equivalent of Higher Grade Mineralization at the Hycroft Mine - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV - News)(AMEX:ANV - News) is pleased to provide an update to recent Vortex Zone definition drilling, including highlights from three newly drilled holes at its wholly owned Hycroft mine located near Winnemucca, Nevada." More
- July 12, 2010 | Item | ShareThis
SEMAFO Compliant with World Bank Extractive Industries Transparency Initiative - "SEMAFO (TSX:SMF - News) today reiterated that the Company adheres to the highest corporate governance and business standards. SEMAFO and its Samira Hill Mine in Niger, operating under the name Societe des Mines du Liptako S.A. ("SML") have always been respectful of the Niger mining code, rules and regulations and are compliant with the revenue transparency initiative supported by the World Bank. SEMAFO and its subsidiaries have consistently honored all contractual agreements with the Government of Niger and in all of the countries in which we operate." More
- July 12, 2010 | Item | ShareThis
Bear Creek announces updated Santa Ana leachable silver resource; M&I increased 39% - "Bear Creek Mining Corporation (TSX Venture: BCM - News; "Bear Creek" or the "Company") is very pleased to announce results from the fourth resource estimate at the Company's 100% owned Santa Ana leachable silver deposit. This resource estimation will be used to derive the mineable reserves and mine planning for the Santa Ana Feasibility Study expected to be completed in September 2010. Santa Ana is located in southeastern Peru, 200 kilometers south of the Company's Corani silver-base metal deposit which is also undergoing a final Feasibility Study." More
- July 12, 2010 | Item | ShareThis
Silver Standard Resources Inc.: Brucejack Drilling Cuts Bonanza-Grade Gold Mineralization - "Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) (the "Company") is pleased to report the initial results of diamond drilling at its wholly-owned Brucejack Project which continues to encounter the bonanza-grade gold and silver mineralization first identified in the 2009 drill program. The results to-date demonstrate the consistency of the bonanza grade intersections over a relatively broad area. (The reports for holes SU-38 to SU-48, the first results from the 2010 program, are contained in Table 1 of this release.) The Brucejack Project is adjacent to the Company's wholly-owned Snowfield Project." More
- July 12, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Monday, 12 July 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Almost 1%
