-- Posted Wednesday, 4 August 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1193.65 | +$8.40 |
Silver | $18.26 | -$0.15 |
XAU | 173.91 | +2.15% |
HUI | 455.02 | +2.60% |
GDM | 1366.68 | +2.38% |
JSE Gold | 2438.62 | +35.20 |
USD | 80.95 | +0.36 |
Euro | 131.57 | -0.71 |
Yen | 115.92 | -0.64 |
Oil | $82.47 | -$0.08 |
10-Year | 2.952% | +0.038 |
T-Bond | 127.90625 | -0.50 |
Dow | 10680.43 | +0.41% |
Nasdaq | 2303.57 | +0.88% |
S&P | 1127.24 | +0.61% |
The Metals:
Gold climbed steadily higher in Asia and London and rose to as high as $1202.90 by about 9:40AM EST before it fell back off in the last few hours of trade in New York, but it still ended with a gain of 0.71%. Silver climbed to as high as $18.688 by midmorning in New York, but it then fell off rather markedly in afternoon trade and ended near its late session low of $18.227 with a loss of 0.81%.
Euro gold rose to almost €909, platinum lost $1 to $1575.70, and copper gained over 4 cents to about $3.40.
Gold and silver equities rose almost 3% by midmorning before they fell back off a bit in afternoon trade, but they still ended with over 2% gains.
The Economy:
Report | For | Reading | Expected | Previous |
ADP Employment | July | 42K | 25K | 19K |
ISM Services | July | 54.3 | 53.0 | 53.8 |
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 7/31 expected at 455,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly lower as a stronger dollar overcame a larger than expected drop in inventories. Crude inventories fell 2.8 million barrels, gasoline stocks rose 700,000 barrels, and distillates rose 2.2 million barrels.
The U.S. dollar index rose and treasuries fell on better than expected economic data that sent the Dow, Nasdaq, and S&P modestly higher.
Among the big names making news in the market today were AOL, BP, Toyota, and Time Warner.
GATA Posts:
Lawrence Williams: Beware the dragon's gold teeth
U.S. Treasuries not safe for China, ex-central bank adviser says
Patrick A. Heller: Gold movements suspect
Mike Kosares: What is Soros up to in the gold market?
The Statistics:
Activity from: 8/02/2010
Gold Warehouse Stocks: | 11,112,103 | -64,016 |
Silver Warehouse Stocks: | 110,243,698 | -117,566 |
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 | 1282.279 | 41,226,552 | US$49,429m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 121.38 | 3,902,510 | US$4,682m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,742 | US$546m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.13 | 1,579,499 | US$1,876m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,972 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.25 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 90.88 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29 - No change from yesterday’s data
The Miners:
NovaGold’s (NG) share transactions, Kinross Gold’s (KGC) asset purchases, Ivanhoe’s (IVN) talks with third parties, First Quantum’s (FM.TO) legal proceedings update, Metalline’s (MMG) drill program, Silver Quest’s (SQI.V) assay results, and MAG Silver’s (MVG) resource estimate were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU +8.68% $1.00 |
2. MAG Silver | MVG +6.94% $6.78 |
3. IAMGOLD | IAG+6.78% $17.16 |
LOSERS
1. ITH | THM -1.90% $6.19 |
2. Buenaventura | BVN-0.58% $36.14 |
3. Aurizon | AZK -0.20% $5.04 |
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:
North Atlantic Makes New Gold Discovery on Foulalaba Permit, Southern Mali - More
- August 04, 2010 | Item | ShareThis
VVC Exploration-Results of Annual General Meeting - More
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Anaconda announces positive preliminary metallurgical testwork on San Gabriel ore - More
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Stonebridge Resources Explorations Ltd. Initiates Discussions With Mining Group Utilising Unique Precious Metal Recovery Technology - More
- August 04, 2010 | Item | ShareThis
Darnley Bay Resources Announces Progress on Drill Program - More
- August 04, 2010 | Item | ShareThis
Stina Adds 180 More Claim Blocks to Dime Property in Yukon - More
- August 04, 2010 | Item | ShareThis
Pancon/Crossland Further Expands NT, Australia Property Package Through Joint Venture With Western Desert Resources - More
- August 04, 2010 | Item | ShareThis
Tarsis Resources Ltd.: Silver Quest Confirms High Grade Gold and Copper at Prospector Mountain, Yukon - More
- August 04, 2010 | Item | ShareThis
Mawson completes the purchase of the high grade Alto Quemado gold-copper project in Peru - More
- August 04, 2010 | Item | ShareThis
Trelawney Extends High Grade Gold Mineralization Below the Chester 2 Deposit - More
- August 04, 2010 | Item | ShareThis
New Dimension Receives Title Confirmation at Cenepa Gold Project, Peru - More
- August 04, 2010 | Item | ShareThis
Stronghold Announces Reduction in Outstanding Stock Options - More
- August 04, 2010 | Item | ShareThis
Geodex Confirms Successful Sorting Results from Metallurgical Program for Sisson Brook - More
- August 04, 2010 | Item | ShareThis
Malaga: Pasto Bueno Mill Up to 450 tpd While Tungsten Prices Hit a New High - More
- August 04, 2010 | Item | ShareThis
NovaGold CEO Effects Share Transactions - "NovaGold Resources Inc. (TSX:NG - News)(AMEX:NG - News) today announced that its President and Chief Executive Officer, Rick Van Nieuwenhuyse, has effected a disposition and subsequent reacquisition of approximately $5.1 million of NovaGold common shares for tax and estate planning purposes. The transactions did not change Mr. Van Nieuwenhuyse's net ownership interest in the Company." More
- August 04, 2010 | Item | ShareThis
Silver Quest Defines New Soil Anomalies at Prospector Mountain, Yukon - "Silver Quest Resources Ltd. (TSX-V:SQI - News) (the "Company") is pleased to report assay results from rock and soil samples collected at Prospector Mountain, Yukon. A total of 84 rock samples and 221 soil samples were collected throughout the Bonanza Zone at Prospector Mountain. The sampling program defined three new gold-in-soil geochemical anomalies with a northwest trend, 1,000 metres (m) long with a total width of up to 550 m. Prospector Mountain is located 90 kilometres northeast of Carmacks, Yukon. For further details please visit the Company's website www.silverquest.ca." More
- August 04, 2010 | Item | ShareThis
Benton Commences Drilling on Kingurutik Cu-Ni Project - More
- August 04, 2010 | Item | ShareThis
Canada Kinross buys two Russian firms for $365 mln - "Canada Gold miner Kinross Gold Corp (K.TO) has won Russian government approval to buy controlling stakes in Severnoye Zoloto and RegionRuda firms for $365 million the head of Russian Antimonopoly Service said on Wednesday." More
- August 04, 2010 | Item | ShareThis
Eagle Hill Hits Gold Results on First Four Drill Holes From Summer Drill Program at Windfall Lake - More
- August 04, 2010 | Item | ShareThis
Fortress Executes Agreement to Sell Svetloye Gold Project in Eastern Russia - More
- August 04, 2010 | Item | ShareThis
Goldstone Resources Key Lake Results - More
- August 04, 2010 | Item | ShareThis
Matamec Participates in an Asian Mining Company Mission - More
- August 04, 2010 | Item | ShareThis
AXMIN Is Granted a Five Year Extension on Its Mavita Licences, Mozambique - More
- August 04, 2010 | Item | ShareThis
Dia Bras Drills More High Grade Silver at Cusi - More
- August 04, 2010 | Item | ShareThis
15.54 g/t Au Intersected at Nambija - More
- August 04, 2010 | Item | ShareThis
EurOmax Drilling Confirms Oxide Copper Zone at Kazandol North - More
- August 04, 2010 | Item | ShareThis
Sheltered Oak Resources Corp. - Acceleration of purchase price payment for the Kerrs Gold Property - More
- August 04, 2010 | Item | ShareThis
Callinan Expands Coles Creek Program - More
- August 04, 2010 | Item | ShareThis
Orosur Mining Inc.: Option and Joint Venture Agreement re Iron Ore, Manganese Ore and Base Metal Prospects - More
- August 04, 2010 | Item | ShareThis
Arco Closes Non-Brokered Financing - More
- August 04, 2010 | Item | ShareThis
Constantine Intersects 3.1% Copper Over 4.2 Meters Within 7.1 Meters of 2.1% Copper and 1.5% Zinc: Palmer VMS Project, Southeast Alaska - More
- August 04, 2010 | Item | ShareThis
Prospero Acquires Rights to Claims and Prepares to Drill the El Dorado Project, Nayarit State, Mexico - More
- August 04, 2010 | Item | ShareThis
San Anton Announces Progress on Feasibility Study Activities at Cerro Del Gallo - More
- August 04, 2010 | Item | ShareThis
Kent Exploration Inc.: Flagstaff Mining Permit Received - More
- August 04, 2010 | Item | ShareThis
Goldgroup's Cerro Colorado Produces 100,000 Ounces of Gold - More
- August 04, 2010 | Item | ShareThis
Miranda Gold Reports Drill Results from Coal Canyon Project - More
- August 04, 2010 | Item | ShareThis
AmeriLithium Completes Relocation of Corporate Offices & Releases Contact Details - More
- August 04, 2010 | Item | ShareThis
Diadem Commences Drilling Program on Parry Peninsula - More
- August 04, 2010 | Item | ShareThis
Northern Gold Hits 32.5 Meters of 1.6 g/t Gold, 14 Meters of 3.1 g/t and 1 Meter of 16.7 g/t at Garrcon Project - More
- August 04, 2010 | Item | ShareThis
Focus Metals Appoints Gary Economo as President & CEO - More
- August 04, 2010 | Item | ShareThis
Denison's Wheeler River Summer Program Continues to Expand Phoenix Deposits - More
- August 04, 2010 | Item | ShareThis
Merc Intersects 9.80 Grams Gold Per Tonne Over 8.5 Metres at Red Mountain-Reports Additional Near-Surface Mineralization - More
- August 04, 2010 | Item | ShareThis
Rare Earth Metals Reports Initial Results From Its Red Wine Property Including 1.35% TREO, 0.52% Nb2O5, and 0.31% BeO Over 30 Meters - More
- August 04, 2010 | Item | ShareThis
Cancor Mines Inc./9.60 g/t Au over 10.00m: Impressive Results on Tan Chaffao East in Hoggar, Algeria - More
- August 04, 2010 | Item | ShareThis
Aquila Announces New Exploration Program at Back Forty Project - More
- August 04, 2010 | Item | ShareThis
Nevada Copper Intersects 230 Feet of 1.46% Copper in the Open Pittable North Deposit - More
- August 04, 2010 | Item | ShareThis
Champion Minerals to Issue Updated Mineral Resources Estimates for the Fire Lake North Claim Block - More
- August 04, 2010 | Item | ShareThis
Gowest Drills 10m of 6.5 g/t Gold While Demonstrating Potential for in Excess of 1 Million Ounces at Its Frankfield East Gold Deposit in Timmins, Ontario - More
- August 04, 2010 | Item | ShareThis
Guyana Goldfields hires key members of the Project Team to advance the Feasibility Study of the Aurora Gold Project - More
- August 04, 2010 | Item | ShareThis
Mineral Mountain Strengthens Its Technical and Management Team - More
- August 04, 2010 | Item | ShareThis
Temex and Goldcorp commence drilling on Whitney Property, Timmins Gold Camp - More
- August 04, 2010 | Item | ShareThis
Latest Results from Mountain Lake's Leprechaun Gold Deposit Confirm Extension of New Zone of Mineralization Along Strike and at Depth - More
- August 04, 2010 | Item | ShareThis
Marathon PGM Extends New Zone of Mineralization at Leprechaun Gold Deposit - More
- August 04, 2010 | Item | ShareThis
Star Gold Corp. Retains Gross Capital, Inc. to Manage Investor Relations Outreach Initiatives - More
- August 04, 2010 | Item | ShareThis
Ivanhoe says in talks with 3rd parties on stakes - "Ivanhoe Mines (IVN.TO) is having "interesting" talks with potential new strategic investors following a recent move to ease restrictions on its shareholder registry, Executive Chairman Robert Friedland said on Wednesday." More
- August 04, 2010 | Item | ShareThis
First Quantum Minerals Provides Update on KMT Legal Proceedings in the Democratic Republic of Congo - "First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM - News)(LSE:FQM - News) wishes to provide an update on legal developments in the Democratic Republic of Congo ("RDC") involving the Kolwezi tailings project (the "Kolwezi Project")." More
- August 04, 2010 | Item | ShareThis
Metalline Commences 4000 Meter Drilling Program in Africa With JV Partner AngloGold Ashanti - "Metalline Mining Company (NYSE Amex: MMG) is extremely pleased to announce the start of a 4000m diamond drilling program in August on its Ndjole and Mevang Exploration licenses in Gabon, Central Africa. The drilling program will be conducted under the direction of Joint Venture partner AngloGold Ashanti. The Ndjole and Mevang permits cover rocks from two adjacent sedimentary basins which comprise of a sequence of deformed sedimentary and volcano-sedimentary rocks that are early Proterozoic in age. Three prospective zones for gold exist within these licenses; the La Mboumi, Ebel, and Mianga prospects." More
- August 04, 2010 | Item | ShareThis
MAG Silver Announces First Resource Estimate for Pozo Seco - "MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG") announces a first mineral resource estimate for the Pozo Seco molybdenum (moly)-gold discovery on its 100% owned Cinco de Mayo (or "Cinco") property in northern Chihuahua State, Mexico. Results confirm that Pozo Seco is a significant high grade molybdenum and gold deposit. MAG is also providing the diamond drill results for 13 holes (Holes CM10-241 to CM10-266) drilled on the Pozo Seco property all of which are included in the resource estimate. The deposit remains open to the northeast and southwest in several places adjoining these latest holes. Metallurgical test work is underway. Pozo Seco is an oxide molybdenum / gold deposit and the metallurgical test work is looking at leach and floatation methods for recoveries. Results are expected by month end." More
- August 04, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Wednesday, 4 August 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Mixed
