-- Posted Wednesday, 14 July 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1206.70 | -$6.55 |
Silver | $18.28 | +$0.04 |
XAU | 173.79 | -0.14% |
HUI | 460.59 | -0.03% |
GDM | 1387.11 | -0.05% |
JSE Gold | 2464.73 | -11.29 |
USD | 83.39 | -0.17 |
Euro | 127.40 | +0.11 |
Yen | 113.26 | +0.47 |
Oil | $77.04 | -$0.11 |
10-Year | 3.050% | -0.064 |
T-Bond | 126.59375 | +1.125 |
Dow | 10366.72 | +0.04% |
Nasdaq | 2249.84 | +0.35% |
S&P | 1095.17 | -0.02% |
The Metals:
Gold saw slight gains in late Asian trade and modest losses in London before it spiked higher in late morning New York action to as high as $1217.85 by about 11:30AM EST, but it then fell to a new session low of $1202.56 in the last couple of hours of trade and ended with a loss of 0.54%. Silver jumped to as high as $18.462 before it also dropped back off in late trade, but it still ended with a gain of 0.22%.
Euro gold fell to about €946, platinum lost $5.50 to $1515.00, and copper fell slightly to about $3.00.
Gold and silver equities saw minor losses in the first hour of trade before they rose to find over 1% gains by late morning, but they then fell back off in early afternoon trade and ended near unchanged.
The Economy:
Report | For | Reading | Expected | Previous |
Retail Sales | June | -0.5% | -0.2% | -1.1% |
Retail Sales ex-auto | June | -0.1% | 0.0% | -1.2% |
Export Prices | June | -0.2% | - | 0.6% |
Export Prices ex-ag. | June | -0.2% | - | 0.5% |
Import Prices | June | -1.3% | - | -0.5% |
Import Prices ex-oil | June | -0.6% | - | 0.5% |
Business Inventories | May | 0.1% | 0.2% | 0.4% |
Minutes from the fed’s last meeting showed the “economic outlook had softened somewhat and a number of members saw the risks to the outlook as having shifted to the downside.”
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 7/10 expected at 450,000, PPI for June expected at -0.1%, Core PPI expected at 0.1%, and the NY Fed Empire Manufacturing Index for July expected at 18.0. At 9:15 is Industrial Production for June expected at 0.0% and Capacity Utilization expected at 74.2, and at 10AM is the Philadelphia Fed for July expected at 10.1.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil pared early losses but still ended with a slight loss on the day after the Energy Information Administration reported that crude inventories fell a larger than expected 5.1 million barrels. Gasoline inventories rose 1.6 million barrels and distillates rose 2.9 million barrels.
The U.S. dollar index fell and treasuries rose on worries over economic growth.
The Dow, Nasdaq, and S&P traded mixed for most of the day on varied earnings reports before they fell off in afternoon trade as focus turned to the fed’s less than rosy outlook, but most stocks were able to shrug off those concerns by the close and all three indices ended near unchanged.
Among the big names making news in the market today were Northrop, British Airways, Intel, Penthouse, and Progressive.
GATA Posts:
Patrick A. Heller: BIS swap mystery is likely bullish for gold
The Statistics:
Activity from: 7/13/2010
Gold Warehouse Stocks: | 10,977,331 | +19,442 |
Silver Warehouse Stocks: | 112,287,006 | -300,001 |
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 | 1314.819 | 42,272,746 | US$51,013m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.75 | 3,978,536 | US$4,839m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,849 | US$553m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.38 | 1,587,683 | US$1,931m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,973 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.24 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 89.20 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29: +33.51 change from yesterday’s data.
The Miners:
Brigus Gold’s (BRD) increase in gold production, Kirkland’s (KGI.TO) gold reserve and resource estimates, and Apogee’s (APE.V) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Entree | EGI +9.77% $2.36 |
2. Nevsun | NSU +8.52% $3.95 |
3. Ivanhoe | IVN+2.98% $16.94 |
LOSERS
1. Northern Dynasty | NAK -5.17% $6.60 |
2. Fronteer | FRG -4.19% $6.39 |
3. Solitario | XPL -2.86% $2.04 |
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:
Starcore International Mines Ltd: Management Strategy Successful in Increasing Production at San Martin Mine - More
- July 14, 2010 | Item | ShareThis
SLAM delivers assays on Miminiska gold discovery - More
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Augen Gold Corp Calls on Dissidents to Reveal Proposed Directors and Plans - More
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Horseshoe Gold Mining Inc. merges with Cosigo Resources Inc. - More
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NQ Exploration Completes Closing of Private Placement for $210,000 - More
- July 14, 2010 | Item | ShareThis
Dia Bras Reports Significant Copper-Zinc Mineralization Near its New Mill Site - More
- July 14, 2010 | Item | ShareThis
Soho Resources Corp. Announces Convertible Debenture Unit Private Placement - More
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Osisko Commences Subsequent Acquisition Transaction to Acquire Remaining Shares of Brett - More
- July 14, 2010 | Item | ShareThis
Creso Enters Into an Investor Relations Agreement with Octobaan IR Capital Inc. - More
- July 14, 2010 | Item | ShareThis
Skyline Gold Acquires Additional Iskut Claims From Newcastle Minerals Ltd. - More
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Tuffnell Ltd. Announces Successful Phase 1 Drilling Program at its Little Butte Gold Project in Arizona - More
- July 14, 2010 | Item | ShareThis
Mesa Uranium Signs Letter of Intent on the Holbrook Potash Project - More
- July 14, 2010 | Item | ShareThis
Gowest Acquires Mining Claims and Announces Board Resignation - More
- July 14, 2010 | Item | ShareThis
Sunward Expands Cerro Vetas Mineral Body, Titiribi Gold-Copper Project, Colombia - More
- July 14, 2010 | Item | ShareThis
Lake Victoria Identifies Five Gold Targets; Drill Planning Begins at Singida-Londoni Gold Project, Tanzania - More
- July 14, 2010 | Item | ShareThis
Dia Bras Reports Second Quarter 2010 Volumes - More
- July 14, 2010 | Item | ShareThis
Mukuba Mobilizes Second Drill Rig as Drilling Progresses at the Northcore Project, Zambia - More
- July 14, 2010 | Item | ShareThis
Apella Resources Inc.: 25.87 Metre (84.55 Feet) Intersection Vanadium-Iron-Titanium Mineralization in Drill-Hole MA-10-33 at Iron-T - More
- July 14, 2010 | Item | ShareThis
Ressources Appalaches: Geophysical Survey in Preparation of the Next Drilling Campaign - More
- July 14, 2010 | Item | ShareThis
Mr. Danny Keating Joins the Board of Directors, Romulus Resources Ltd. (TSX VENTURE: ROM) - More
- July 14, 2010 | Item | ShareThis
War Eagle Proposed Investment in Chihuahua Project - More
- July 14, 2010 | Item | ShareThis
Avion Defines High Grade Open Pit Resource 2 Km South of Tabakoto Mine; Mineralization Remains Open at Depth - More
- July 14, 2010 | Item | ShareThis
Arco Begins Drilling at Predilecta Gold Property - More
- July 14, 2010 | Item | ShareThis
Hana Mining Expands Banana Zone at Ghanzi Copper-Silver Project by 4.2 Kilometres - More
- July 14, 2010 | Item | ShareThis
Galore Confirms Anomalies in Final IP Report at Dos Santos - More
- July 14, 2010 | Item | ShareThis
43-101 Technical Report Completed for Orvana's El Valle-Boinas/Carles Project in Northern Spain, Including Reserve and Cash Flow - More
- July 14, 2010 | Item | ShareThis
Matamec Begins its 2nd Drilling Campaign on the Heavy Rare Earths-Yttrium-Zirconium Kipawa Deposit - More
- July 14, 2010 | Item | ShareThis
Channel Resources Provides Operational Update - More
- July 14, 2010 | Item | ShareThis
Gold American Mining Corp. - Guadalupe Property Update - More
- July 14, 2010 | Item | ShareThis
Bear Lake Gold Drill Program Begins at Larder Lake - More
- July 14, 2010 | Item | ShareThis
Moss Lake Mineral Resource estimate upgraded and increased - More
- July 14, 2010 | Item | ShareThis
Auryx Gold Corp. Ships First Batch of Drill Samples From the Otjikoto Gold Project, Namibia - More
- July 14, 2010 | Item | ShareThis
Oro Gold Extends Taunus Gold Zone and Adds Third Drill Rig - More
- July 14, 2010 | Item | ShareThis
Entourage Mining Reports on Pires Gold Project Drilling - More
- July 14, 2010 | Item | ShareThis
Klondex Sets Term Sheet for $10 - $20 Million in Gold-Backed Financing to Fund Its Underground Program in Nevada - More
- July 14, 2010 | Item | ShareThis
Lithium Americas Corp. Adds George Pirie to Its Board of Directors - More
- July 14, 2010 | Item | ShareThis
Vantex Enlisted the Services of Mr. Dale Hendrick as Consulting Geologist - More
- July 14, 2010 | Item | ShareThis
Kootenay Accelerates Work Programs; Results Pending - More
- July 14, 2010 | Item | ShareThis
Lara Exploration Ltd.: Copper-Gold Targets Outlined at Curionopolis in Northern Brazil - More
- July 14, 2010 | Item | ShareThis
Brigus Gold Reports 27% Increase in Gold Production in Second Quarter Over First Quarter - "Brigus Gold Corp. (“Brigus Gold” or “the Company”) (TSX: BRD - News)(NYSE Amex: BRD) reports that its wholly owned and operated Black Fox Mine and Mill (“Black Fox”) produced approximately 18,000 ounces of gold in the second quarter of 2010 (“Q2 2010”), an increase of 27% over the first quarter of 2010 (“Q1 2010”). During the quarter, gold sales increased by 17% over Q1 2010 as the mine continues to show improvement in the average gold grade mined resulting in increased production, with this trend forecast to continue during the remainder of 2010." More
- July 14, 2010 | Item | ShareThis
Pitchstone Provides Eastern Athabasca Uranium Exploration Update - More
- July 14, 2010 | Item | ShareThis
LKA Announces Presence of High-Grade Zone at the Golden Wonder Mine - More
- July 14, 2010 | Item | ShareThis
U3O8 Corp. Intersects 36.5 Metres at 0.09% (1.8 Pounds Per Short Ton) U3O8 in a New Target in the Kurupung Project, Guyana - More
- July 14, 2010 | Item | ShareThis
American Rare Earths & Materials CEO Outlines Strategic Focus in Rare Earths - More
- July 14, 2010 | Item | ShareThis
Astur Gold Commences Scoping Study at Salave Gold Project - More
- July 14, 2010 | Item | ShareThis
Sidon Receives Approval for High-Grade Gold Prospect in Tanzania - More
- July 14, 2010 | Item | ShareThis
Minera IRL Limited-Corihuarmi Gold Mine Production June Quarter, 2010 - More
- July 14, 2010 | Item | ShareThis
Minera IRL Completes US$3.8 Million Ollachea Payment to Rio Tinto - More
- July 14, 2010 | Item | ShareThis
Black Hawk Commences Dun Glen Gold Drill Program July 26th, 2010 - More
- July 14, 2010 | Item | ShareThis
Apogee Intersects 40.0 Meters Grading 332.01 g/t Silver and 47.0 Meters Grading 168.41 g/t Silver at Pulacayo - "Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE - News) reports assay results from six diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia. Three holes, PUD 134, PUD 136 and PUD 137, were drilled from an underground platform, while three holes, PUD 146, PUD 147, and PUD 148, were drilled from surface." More
- July 14, 2010 | Item | ShareThis
Kirkland Lake Gold Inc: Annual Reserves & Resources for Mine; Continued Increases in the South Mine Complex - "Kirkland Lake Gold Inc. (the "Company") (TSX:KGI - News; AIM:KGI) is pleased to present its fiscal year-end (April 30, 2010) gold reserve and resource estimates for its operations in Kirkland Lake, Ontario on both the historic Main Break and the recently discovered South Mine Complex ('SMC'). The SMC consists of 25 or more mineralized zones, five of which have been defined over strike lengths in excess of 1,000 feet." More
- July 14, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Wednesday, 14 July 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Mixed In Volatile Trade
