-- Posted Thursday, 22 July 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1196.20 | +$4.15 |
Silver | $18.10 | +$0.31 |
XAU | 172.34 | +2.16% |
HUI | 449.90 | +2.09% |
GDM | 1355.06 | +1.97% |
JSE Gold | 2371.49 | +9.70 |
USD | 82.63 | -0.65 |
Euro | 128.87 | +1.29 |
Yen | 115.03 | +0.20 |
Oil | $79.30 | +$2.74 |
10-Year | 2.932% | +0.040 |
T-Bond | 128.09375 | -0.75 |
Dow | 10322.30 | +1.99% |
Nasdaq | 2245.89 | +2.68% |
S&P | 1093.67 | +2.25% |
The Metals:
Gold extended yesterday’s after hours losses and dropped almost 1% to as low as $1180.70 in Asia before it rebounded a bit in London and then shot higher between 9:30 and 10AM EST to see an $8.25 gain at $1200.30 by midmorning in New York, but it then fell back off into the close and ended with a gain of just 0.35%. Silver jumped to as high as $18.173 before it also fell back off a bit in the last few hours of trade, but it still ended with a gain of 1.74%.
Gold rally to extend into 2011, macro fear persists Reuters
North American gold miners set for profit bonanza Reuters
Euro gold fell to about €927 on the euro’s rebound, platinum gained $0.80 to $1521.50, and copper climbed another 7 cents to about $3.16.
Gold and silver equities climbed over 2% higher in the first hour of trade and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Jobless Claims | 7/17 | 464K | 445K | 427K |
Leading Indicators | June | -0.2% | -0.4% | 0.5% |
Existing Home Sales | June | 5.37M | 5.09M | 5.66M |
“Federal Reserve Board Chairman Ben Bernanke stressed Thursday that the central bank was "ready" to take further steps to stimulate the U.S. economy if growth turns out to be weaker than expected.”
Congress Extends $34 Billion Jobless Benefits Package Bloomberg
Peter Schiff's 3 Reasons Why Financial Reform Will Fail Yahoo
Mortgage rates hit 4.56 pct., record low Yahoo
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose close to $80 a barrel on better than expected earnings reports that raised demand expectations while a developing tropical depression in the Atlantic raised supply concerns.
The U.S. dollar index fell on worse than expected Initial Jobless Claims data while the euro climbed higher on positive data releases in Europe and easing worries over bank stress tests there.
Treasuries fell as the Dow, Nasdaq, and S&P rose about 2% on strong earnings reports and forecasts from most of the companies reporting today.
Among the big names making news in the market today were Bristol-Meyers, AT&T, Eli Lilly, UPS, Nokia, BP, Caterpillar, and GM and AmeriCredit.
GATA Posts:
Gold coin sellers angered by new tax law
Jay Taylor interviews GoldMoney's James Turk on many gold and silver topics
China steps up global mining buys
Ted Butler: Now it's when, not if, for metals position limits
The Statistics:
Activity from: 7/21/2010
Gold Warehouse Stocks: | 11,114,017 | -550 |
Silver Warehouse Stocks: | 110,937,128 | +193,009 |
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 | 1308.128 | 42,057,627 | US$50,433m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.04 | 3,955,731 | US$4,730m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,808 | US$547m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.38 | 1,587,578 | US$1,875m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,972 | US$6m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 89.66 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29 - No change from yesterday’s data.
The Miners:
Imperial’s (III.TO) drill results, Aurizon’s (AZK) comments on Lake Shore Gold’s drill results, Golden Star’s (GSS) resource increase, Pacific Rim’s (PMU) year end results, and Scorpio’s (SPM.TO) new chairman appointment were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Northern Dynasty | NAK +5.72% $6.84 |
2. US Gold | UXG +4.72% $4.66 |
3. Kinross Gold | KGC +4.61% $16.33 |
LOSERS
1. Northgate | NXG -2.33% $2.93 |
2. Allied Nevada | ANV -2.22% $16.33 |
3. Vista Gold | VGZ -1.40% $1.40 |
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:
North American gold miners set for profit bonanza - "North American gold miners are expected to report bumper second-quarter profits in coming weeks, on the back of record-high bullion prices, but weakening prices for base metals that are produced as byproducts could temper the gains." More
- July 22, 2010 | Item | ShareThis
Uranium Resources, Inc. Reports on Plan of Action for Advancing Churchrock, New Mexico Property - More
- July 22, 2010 | Item | ShareThis
Mirasol Reports initial results from Phase 4 drilling and commencement of Phase 5 drill programs at the Joaquin Project, Argentina - More
- July 22, 2010 | Item | ShareThis
Metalline Announces Agreement With JDS Energy & Mining, Inc. - "Metalline Mining Company (NYSE Amex: MMG) is pleased to announce the execution this week of a professional services agreement with JDS Energy & Mining, Inc. ("JDS") of Vancouver and Kelowna, B.C., Canada. JDS is a rapidly growing company servicing the mining industry globally. Its highly experienced team of Professional Geologists and Engineers specialize in exploration/development project management, feasibility study preparation/analysis, safety and environmental operating procedures, design and engineering, trade procurement (excavation, drilling, blasting, etc.), accounting and administration. See www.jdsmining.ca for further information regarding JDS." More
- July 22, 2010 | Item | ShareThis
TSX Venture Exchange Conditionally Accepts Business Combination of Rodeo Capital and PJV Resources Inc. - More
- July 22, 2010 | Item | ShareThis
Maya Gold & Silver Completes $1 Million Private Placement - More
- July 22, 2010 | Item | ShareThis
Freeport's Hutton Garnet Beaches Released from Environmental Assessment - More
- July 22, 2010 | Item | ShareThis
New Island Resources Inc. Provides Update on Loan With Respect to Glover Island Property - More
- July 22, 2010 | Item | ShareThis
Eastplats Reports Operating Results for the Quarter Ended June 30, 2010 - More
- July 22, 2010 | Item | ShareThis
Globetech Retains Weston Investment Advisors - More
- July 22, 2010 | Item | ShareThis
Mawson outlines summer work programs at the Rompas gold uranium discovery in Finland - More
- July 22, 2010 | Item | ShareThis
ICN Resources Ltd.: Dunes Property Staked - More
- July 22, 2010 | Item | ShareThis
Andean American Corporate Update - More
- July 22, 2010 | Item | ShareThis
Apella Resources Inc.: Iron-T Mineralization Now Identified Over 3.5 km Strike - More
- July 22, 2010 | Item | ShareThis
Paragon and Golden Dory Extend Mosquito Hill Gold Mineralization - More
- July 22, 2010 | Item | ShareThis
Magellan Drills 112m of 1.70g/t Gold at Moreira Gomes, Cuiu Cuiu Project, Brazil - More
- July 22, 2010 | Item | ShareThis
Lincoln Mining Corporation - Wilson royalty reduced at Pine Grove property - More
- July 22, 2010 | Item | ShareThis
Global X Funds to unveil world's first lithium ETF - "Global X Funds said Thursday it will unveil on Friday the world's first lithium exchange-traded fund in shares of the largest and most liquid lithium battery producing and mining and refining companies." More
- July 22, 2010 | Item | ShareThis
Castle Resources Files New NI 43-101 Technical Report for Granduc Copper Mine, British Columbia - More
- July 22, 2010 | Item | ShareThis
First Gold Intersects 1.43% Li2O, 2,966 G/T Rubidium, 171 ppm Ta2O5, 140 ppm Beryllium, 66 ppm Gallium and 117 ppm Cesium Over 13.55 Metres in Hole LR-10-45 - More
- July 22, 2010 | Item | ShareThis
Bison Gold Updates its Central Manitoba Property: High Grade Results Were Identified During Surface Mapping of the Eldorado Wein With Assay Results Up to162 g/t - More
- July 22, 2010 | Item | ShareThis
Augen Gold Corp Waives Proxy Cut-Off for Its Shareholder Meeting on July 23, 2010 - More
- July 22, 2010 | Item | ShareThis
Augen Gold Corp Calls on Director to "Come Clean" Regarding Role With Dissident Shareholders - More
- July 22, 2010 | Item | ShareThis
Savant Announces Results of Second Through to Fifth Hole on the Parbec Gold Property - More
- July 22, 2010 | Item | ShareThis
Galantas Closes Second Tranche of Private Placement for CDN$1,227,500 - More
- July 22, 2010 | Item | ShareThis
Olympus Expands Gold Production in Second Quarter - More
- July 22, 2010 | Item | ShareThis
Khan Mongolia Court Case Postponed - More
- July 22, 2010 | Item | ShareThis
Tyhee Development Corp Reports Positive Preliminary Feasibility Study On Yellowknife Gold Project - More
- July 22, 2010 | Item | ShareThis
Further Skyline Gold Drill Program Assays Include 2.65 Meters Grading 17.5 Grams/Tonne (g/t) Gold and 234 g/t Silver - More
- July 22, 2010 | Item | ShareThis
La Mancha Confirms the Discovery of a New Gold Mineralised Zone at its 100%-Owned Kintore Project in Australia - More
- July 22, 2010 | Item | ShareThis
Great Western Minerals Group Launches Douglas River Exploration Program - More
- July 22, 2010 | Item | ShareThis
New Guinea Gold to Repay NMC Loan in Shares and Warrants - More
- July 22, 2010 | Item | ShareThis
EurOmax Resources Limited - Clarification of Status of Exploration Licences at Ilovitza - More
- July 22, 2010 | Item | ShareThis
Diamonds North Extends HI-1 Along Strike and Identifies Abundance of Gossan Zones at HI-2 - More
- July 22, 2010 | Item | ShareThis
La Quinta Resources Announces Permit Approval for Drill Program at Easter Project - More
- July 22, 2010 | Item | ShareThis
Adventure Gold Signs a $5 Million Option Agreement With Agnico-Eagle for Its Dubuisson Property - More
- July 22, 2010 | Item | ShareThis
American Consolidated Reports Exploration Program Update - More
- July 22, 2010 | Item | ShareThis
Millrock Signs Exploration Agreement With Brixton Metals for Monte Cristo and St. Eugene Properties, Alaska - More
- July 22, 2010 | Item | ShareThis
Tasman Comments on Recent Reduction in Chinese Rare Earth Element Export Quotas - More
- July 22, 2010 | Item | ShareThis
Sunridge Gold Announces Results of Strategic Production Study and Metallurgic Testing for Asmara Project, Eritrea - More
- July 22, 2010 | Item | ShareThis
Richfield Fulfills Expenditure Requirement on Dave Property and Provides Blackwater Gold Project Update - More
- July 22, 2010 | Item | ShareThis
Michael Williams Joins Western Pacific's Board of Directors - More
- July 22, 2010 | Item | ShareThis
American Paramount Gold Corp. Releases Corporate Strategy and Objectives - More
- July 22, 2010 | Item | ShareThis
BCGold Corp. and Kestrel Gold Inc. Commence Drill Program at Toe Property, Yukon - More
- July 22, 2010 | Item | ShareThis
Cancor Mines Inc.: 28.14 g/t Au Over 6.00m - Impressive Results on North Tirek in Hoggar, Algeria - More
- July 22, 2010 | Item | ShareThis
Asian Mineral Resources Limited Announces 55% Increase in Ban Phuc Disseminated Resources - More
- July 22, 2010 | Item | ShareThis
Titan Uranium Inc. Commences Summer Drilling Program on Border Block Project - More
- July 22, 2010 | Item | ShareThis
Orvana Signs Term Sheet With Credit Suisse AG for US $50 Million Debt Financing - More
- July 22, 2010 | Item | ShareThis
Serengeti Reports First Three Holes From 2010 Drilling at Kwanika - More
- July 22, 2010 | Item | ShareThis
Lake Shore Gold Confirms and Expands Mineralization in "G Zone" at Casa Berardi East - More
- July 22, 2010 | Item | ShareThis
American Manganese Inc.: Artillery Peak 2010 Drilling Totals 4526.3 Meters - More
- July 22, 2010 | Item | ShareThis
Candente Copper Provides an Update on the Canariaco Norte Pre-Feasibility Study - More
- July 22, 2010 | Item | ShareThis
RockBridge Appoints New Director - More
- July 22, 2010 | Item | ShareThis
Imperial's Mount Polley Expands WX Discovery Zone and Initiates Underground Development at Boundary Zone - "Imperial Metals Corporation (TSX:III - News) reports significant intervals of copper/gold mineralization in the WX zone, located south of the Springer pit at the Company's Mount Polley property." More
- July 22, 2010 | Item | ShareThis
Lake Shore Gold announces drill results at Casa Berardi exploration property - "Aurizon Mines Ltd. ("Aurizon") is encouraged by the results announced by Lake Shore Gold Corp. ("Lake Shore Gold") in its news release dated July 22, 2010 from Lake Shore Gold's winter drill program on the East Block of Aurizon's 100% owned Casa Berardi property in north-western Quebec." More
- July 22, 2010 | Item | ShareThis
Golden Star Increases Buesichem Resource by 378% - "Golden Star Resources Ltd. (TSX:GSC - News)(AMEX:GSS - News)(GSE: GSR) is pleased to announce preliminary mineral resource estimate and pit optimization results from the new discovery at Buesichem (now called Buesichem South deposit) which we reported March 4, 2010. The Buesichem South discovery added approximately 500,000 ounces of gold to the Buesichem resource base bringing the Buesichem total to 134,000 ounces of Measured and Indicated Mineral Resources and 497,000 ounces of Inferred Mineral Resource that with further drilling will extend the life of the Buesichem pit by several years. The Buesichem South discovery is open ended to the south and drilling is continuing. To date, an additional 62 holes totaling 14,700 meters (m) have been drilled on a nominal 50 m X 50 m grid interval." More
- July 22, 2010 | Item | ShareThis
Pacific Rim Mining Announces Fiscal 2010 Year End Results - "For the fiscal year ended April 30, 2010, Pacific Rim recorded a loss for the period of $(5.0) million or $(0.04) per share, compared to a loss of $(6.3) million or $(0.05) per share for the fiscal year ended April 30, 2009 and $(12.7) million or $(0.11) per share for the fiscal year ended April 30, 2008. The decrease in net loss for fiscal 2010 compared to fiscal 2009 is primarily related to significantly decreased exploration expenses, offset in part by significantly lower net income from the Denton-Rawhide joint venture as a result of the sale by the Company of its interest in the joint venture during fiscal 2009." More
- July 22, 2010 | Item | ShareThis
Pacific Rim Mining Announces Fiscal 2010 Year End Results - "For the fiscal year ended April 30, 2010, Pacific Rim recorded a loss for the period of $(5.0) million or $(0.04) per share, compared to a loss of $(6.3) million or $(0.05) per share for the fiscal year ended April 30, 2009 and $(12.7) million or $(0.11) per share for the fiscal year ended April 30, 2008. The decrease in net loss for fiscal 2010 compared to fiscal 2009 is primarily related to significantly decreased exploration expenses, offset in part by significantly lower net income from the Denton-Rawhide joint venture as a result of the sale by the Company of its interest in the joint venture during fiscal 2009." More
- July 22, 2010 | Item | ShareThis
Scorpio Mining Appoints New Chairman - "Scorpio Mining Corporation (TSX: SPM - News; "Scorpio Mining" or the "Corporation") is pleased to announce the appointment of Mr. Ewan Mason as Chairman of its Board of Directors, effective as of July 14, 2010. Mr. Mason has been a Director of the Corporation since January 2010." More
- July 22, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Thursday, 22 July 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain With Stocks and Oil
