-- Posted Thursday, 12 August 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1214.80 | +$17.30 |
Silver | $18.04 | +$0.13 |
XAU | 174.14 | +2.00% |
HUI | 459.71 | +2.11% |
GDM | 1387.76 | +2.27% |
JSE Gold | 2499.22 | +0.01 |
USD | 82.62 | +0.29 |
Euro | 128.24 | -0.08 |
Yen | 116.39 | -0.96 |
Oil | $75.74 | -$2.28 |
10-Year | 2.735% | +0.050 |
T-Bond | 131.21875 | -0.15625 |
Dow | 10319.95 | -0.57% |
Nasdaq | 2190.27 | -0.83% |
S&P | 1083.61 | -0.54% |
The Metals:
Gold traded mostly slightly higher in Asia, rose almost $10 in London, and popped to as high as $1215.13 at the open of trade in New York before it dropped back off a bit by late morning, but it then climbed back near its earlier high in the last minutes of trade and ended with a gain of 1.44%. Silver climbed to as high as $18.095 by late morning in New York before it moderated its gains a bit in the last couple of hours of trade, but it still ended with a gain of 0.73%.
Euro gold rose to almost €947, platinum gained $11.50 to $1524, and copper gained 3 cents to about $3.28.
Gold and silver equities climbed over 2% by midday and remained near their highs into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 8/07 | 484K | 465K | 482K |
Export Prices | July | -0.2% | - | -0.7% |
Export Prices ex-ag. | July | -0.2% | - | -0.8% |
Import Prices | July | 0.2% | - | -1.3% |
Import Prices ex-oil | July | -0.3% | - | -0.5% |
Tomorrow at 8:30AM EST brings CPI for July expected at 0.2%, Core CPI expected at 0.1%, and Retail Sales for July expected at 0.5%. Excluding autos, sales are expected at 0.2%. At 9:55 is Michigan Sentiment for August expected at 70.0, and at 10AM is the Business Inventories report for June expected at 0.2%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell again as the U.S. dollar index continued its recent rise on risk aversion/cash raising/safe haven buying after Initial Jobless Claims climbed to a five-month high.
Treasuries remained lower after today’s $16 billion 30-year note auction drew a yield of 3.954% with a bid to cover of 2.77.
The Dow, Nasdaq, and S&P fell on poor earnings reports and economic data.
Among the big names making news in the market today were GM, Wendy’s, Sara Lee, AIG, GM, and Cisco.
GATA Posts:
Boston money fair showcases rare banknotes, gold treasures
Solari Report's comprehensive guide to storing precious metals
CFTC to start anew this month in devising commodity position limits
The Statistics:
Activity from: 8/11/2010
Gold Warehouse Stocks: | 11,118,749 | -129 |
Silver Warehouse Stocks: | 110,587,350 | -6,122 |
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 | 1285.787 | 41,339,326 | US$50,135m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.88 | 3,983,008 | US$4,832m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,701 | US$555m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.12 | 1,579,360 | US$1,904m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,971 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.041 tonnes and the LSE added 0.77 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 91.16 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9151.03 - No change from yesterday’s data.
The Miners:
ITH’s equity interest from AngloGold (AU), Nevsun’s mine update, Claude’s (CGR) second quarter results, Royal Gold’s (RGLD) fourth quarter results, Aurizon’s (AZK) second quarter results, Fronteer’s (FRG) second quarter results. AngloGold’s (AU) second quarter results and JV agreement with B2Gold (BTO.TO), Revett’s (RVM.TO) operations and development update, and Coeur’s (CDE) comments on the civil unrest in Bolivia were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU+29.37% $1.85 |
2. Aurizon | AZK +7.55% $5.70 |
3. Taseko | TGB +6.06% $4.20 |
LOSERS
1. Solitario | XPL -5.29% $1.79 |
2. Banro | BAA -5.08% $1.68 |
3. Harmony | HMY-0.09% $11.01 |
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:
Southern Silver Exploration Corp.: Drill Hole Completed at Dragoon Project - More
- August 12, 2010 | Item | ShareThis
EurOmax Announces Glass Lewis & Co. Recommendation That Shareholders Vote Their BLUE Proxy In Support Of The Management Director Nominees - More
- August 12, 2010 | Item | ShareThis
Revett Provides Q2 Operations and Development Update - "Revett Minerals Inc. ("Revett" or the "Company") (TSX:RVM - News) (OTC.BB:RVMIF - News) is pleased to announce continued mine productivity gains at the Troy Mine, averaging 4,123 stpd for the first six months of 2010, compared to 3,871 stpd for the first six months of 2009. Ongoing development and more production from the Lower Quartzite areas resulted in 2nd quarter grades (0.70 opt silver and 0.33% Cu) well below life of mine averages, having a negative impact on payable metal production. Grades in the third quarter have improved (1.0 opt Ag and 0.40% Cu) and are expected to continue through the end of the year." More
- August 12, 2010 | Item | ShareThis
Eurasian Completes Acquisition of Swedish Subsidiary From Freeport-McMoRan - More
- August 12, 2010 | Item | ShareThis
Pro Minerals Inc.: Drilling Recommended For Shining Tree Gold Project - More
- August 12, 2010 | Item | ShareThis
Everton Resources Inc. and Brigus Gold Corp. Amend Their Dominican Republic Joint Venture Option Agreements - More
- August 12, 2010 | Item | ShareThis
Zaruma Resources Announces Revocation of Cease Trade Orders - More
- August 12, 2010 | Item | ShareThis
Tao Minerals Ltd. Provides Property Update on the El Colmillo Gold Project - More
- August 12, 2010 | Item | ShareThis
Hudson Drills 310m of 1.0% TREO Including 94m of 1.8% TREO at the Sarfartoq Rare Earth Project in Greenland - More
- August 12, 2010 | Item | ShareThis
Commander Extends 2010 Baffin Gold Field Program - More
- August 12, 2010 | Item | ShareThis
Diamond Frank in the Heart of Quebec's Gold Projects - More
- August 12, 2010 | Item | ShareThis
Selwyn Closes US$5 Million Credit Facility - More
- August 12, 2010 | Item | ShareThis
Uranium North Expands Mallery Lake Gold Target - More
- August 12, 2010 | Item | ShareThis
Brookmount to List on the TSX.V (Toronto Stock Exchange.Venture) - More
- August 12, 2010 | Item | ShareThis
Orosur Mining Inc Announces Results for the Fourth Quarter of Fiscal Year 2010 - More
- August 12, 2010 | Item | ShareThis
Eagle Plains/Windstorm Commence Drilling on Kalum High Grade Gold Project - More
- August 12, 2010 | Item | ShareThis
Marifil Sells Lithium Properties for $5 Million - More
- August 12, 2010 | Item | ShareThis
Rockcliff Adds Chairman of the Board with Substantial Mining Industry Experience - More
- August 12, 2010 | Item | ShareThis
Erdene Provides Project Updates and Second Quarter Financial Results - More
- August 12, 2010 | Item | ShareThis
Gladstone Pacific Nickel Limited (ACN 104 261 887) - Takeover Proposal - More
- August 12, 2010 | Item | ShareThis
Magellan Outlines Large New Gold-In-Soil Anomaly, West of Main Structure at Coringa, Brazil - More
- August 12, 2010 | Item | ShareThis
Estrella Gold Grants Stock Options - More
- August 12, 2010 | Item | ShareThis
Amerigo Announces Q2-2010 Financial Results - More
- August 12, 2010 | Item | ShareThis
Caledonia Mining 2010 Second Quarter and Half Year Results and Management Conference Call - More
- August 12, 2010 | Item | ShareThis
Nanika's New Bulldog Creek Property Grab Samples up to 9.98 g/t Gold, 564.9 g/t Silver and 3.5% Copper - More
- August 12, 2010 | Item | ShareThis
Nuukfjord Gold Intersects 28.75m of 6.74 g/t Gold in Initial Drilling; Including 10.0m of 15.02 g/t Gold - More
- August 12, 2010 | Item | ShareThis
B2Gold and AngloGold Reach Agreement to Recommence Exploration and Feasibility Work on Gramalote Project, Colombia - More
- August 12, 2010 | Item | ShareThis
Volta Hits More Gold at its Nassara Gold Prospect in Southwestern Burkina Faso - More
- August 12, 2010 | Item | ShareThis
Mr. Al Cloke joins Copper Mountain Board - More
- August 12, 2010 | Item | ShareThis
Atna Resources Reports Second Quarter 2010 Results - More
- August 12, 2010 | Item | ShareThis
Ruby Creek Attains Milestones -- Commences Camp Construction and Delivery of First Test Mining Plant - More
- August 12, 2010 | Item | ShareThis
Cadillac Signs Diamond Drill Contract for Thierry Mine Project - More
- August 12, 2010 | Item | ShareThis
Tirex to Remobilize With Intense Drill Program at Mirdita - More
- August 12, 2010 | Item | ShareThis
Quest Rare Minerals Cracks the B-Zone Metallurgical Code, Reports REE Recoveries of Between 77% and 93% - More
- August 12, 2010 | Item | ShareThis
Rare Earth Metals to Begin Drilling Red Wine/Letitia Lake Properties - More
- August 12, 2010 | Item | ShareThis
Lithium Americas Corp. Opens On-Site Pilot Evaporation and Analytical Laboratory Facilities - More
- August 12, 2010 | Item | ShareThis
Dynacor Reports Net Earnings of $780,000 (0.03 per Share) for Q2 2010 - More
- August 12, 2010 | Item | ShareThis
Miocene Metals Confirms Copper-Gold Mineralization on Mackenzie and Molybdenum Mineralization on Salal Properties - More
- August 12, 2010 | Item | ShareThis
Wallbridge Mining Confirms Copper, Gold and Molybdenum Mineralization on Miocene Metals Spin-out Properties - More
- August 12, 2010 | Item | ShareThis
Halo Announces New Drill Program for Metallurgical Testing - More
- August 12, 2010 | Item | ShareThis
Paladin Energy Ltd: Quarter and Year End June 2010 Conference Call and Investor Update-1st September 2010 (Perth Time) - More
- August 12, 2010 | Item | ShareThis
Noront intersects new chromite mineralization at McFauld's Lake Project - More
- August 12, 2010 | Item | ShareThis
Rio Novo Gold: Second Quarter Results and Review of Activities - More
- August 12, 2010 | Item | ShareThis
Quadra FNX Mining Ltd. Announces 2010 Second Quarter Financial Results - More
- August 12, 2010 | Item | ShareThis
Aeroquest Airborne Survey to Further Define High Priority Rare Earth Targets - More
- August 12, 2010 | Item | ShareThis
African Queen Mines Commences Airbourne Geophysical Survey at Rongo Gold Field Project in Kenya's Lake Victoria Greenstone Belt - More
- August 12, 2010 | Item | ShareThis
International Tower Hill Receives Share Ownership Top-up Notice from AngloGold Ashanti for 415,041 Shares - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce that AngloGold Ashanti (U.S.A.) Exploration Inc., a subsidiary of AngloGold Ashanti Limited ("AngloGold"), has exercised its right to maintain its 13.2907% equity interest in the Company. AngloGold's equity interest had been diluted by virtue of the Company's issuance of shares since October 31, 2009 (other than in connection with financings), principally due to the exercise of incentive stock options and broker options." More
- August 12, 2010 | Item | ShareThis
Coeur Comments on Civic Unrest in Potosi, Bolivia - “The ongoing civic unrest in Potosi is driven by local issues and is not related to our operations at San Bartolomé. Workers from San Bartolomé have been involved in a call for a civic stand down of work activities in Potosi as a show of community support, which has caused our operations to be temporarily stalled, and has impacted other mining besides San Bartolomé in the Potosi area. We are hopeful that the civic dispute will be settled soon.” More
- August 12, 2010 | Item | ShareThis
Nevsun Resources Ltd.: Bisha Mine Reaches 70% Completion & Q4 Commissioning on Track - "The Bisha Project is positioned to be Eritrea's first modern day mine, with production anticipated to yield 1.06M oz gold, 734M lb copper, 1B lb zinc and 9.4M oz silver. Gold will be produced at an operating cost of less than $250/oz, with copper operating costs ranging from $0.54-$0.67/lb, and zinc operating costs at $0.50/lb. Bisha benefits from the continued support of the Eritrean government." More
- August 12, 2010 | Item | ShareThis
Claude Resources Inc. Reports Second Quarter Results - "Claude Resources Inc. ("Claude" or the "Company") today announced Second Quarter production results of 11,902 ounces of gold, a 54 percent increase over the 7,735 ounces produced during the same period in 2009. For the quarter ended June 30, 2010, the Company recorded net earnings of $0.3 million, or $0.00 per share. This compares to a net loss of $3.9 million for the same period in 2009, or $0.04 per share. Earnings before interest, taxes, depreciation and amortization ("EBITDA"), for the quarter were $4.5 million, a significant increase from $1.3 million in 2009." More
- August 12, 2010 | Item | ShareThis
Royal Gold Reports Record Revenue and Free Cash Flow for Fourth Quarter and Fiscal 2010 - "Royal Gold, Inc. (NASDAQ: RGLD - News) (TSX: RGL - News) today announced record royalty revenue of $136.6 million for fiscal 2010 (ended June 30), an 85% increase over revenues of $73.8 million in fiscal 2009. Net income available to Royal Gold common stockholders totaled $21.5 million, or $0.49 per basic share, compared with net income available to Royal Gold common stockholders of $38.3 million, or $1.09 per share, in fiscal 2009." More
- August 12, 2010 | Item | ShareThis
Aurizon Reports Second Quarter 2010 Results - "Our second quarter financial results reflect improved performance at Casa Berardi as we gradually work through a lower grade area of the mine." said David Hall, President and Chief Executive Officer. "We anticipate completing the mining of the lower grade material by the end of this year, paving the way for increased gold production and lower costs per ounce in future years. On the exploration front, we experienced encouraging results at both Casa Berardi, in the Principal area, and at Joanna, which resulted in a significant increase in resources at the Hosco deposit. We also enhanced our exploration portfolio by acquiring options on three attractive properties, where we intend to use our strong financial capacity and technical expertise to add value for our shareholders, as we have at Casa Berardi and Joanna." More
- August 12, 2010 | Item | ShareThis
Fronteer Gold Reports Strong Second Quarter Financial Results and Significant Advancement of Nevada Gold Projects - "We continue to reach new milestones as we advance our gold projects in Nevada toward our production goal," says Fronteer Gold President and CEO Mark O'Dea. "In the second quarter, we have further strengthened our development team; added new high-grade gold intercepts at all three of our key Nevada gold projects; reported a significant increase in the resource at Long Canyon; accelerated development activities; and increased our growth pipeline with the acquisition of Nevada Eagle Resources. At the same time, we have maintained our strong financial position. We are also optimistic about the value yet to be fully realized at our Halilaga copper-gold porphyry in Turkey and Michelin uranium project in Labrador that will further fuel our gold growth." More
- August 12, 2010 | Item | ShareThis
AngloGold Ashanti and B2Gold Amend Gramalote Joint Venture Agreement - "AngloGold Ashanti (NYSE:AU - News) is pleased to announce that it has entered into an agreement with B2Gold Corp. to amend the Gramalote Joint Venture Agreement. Under the amended terms, AngloGold will retain its 51% interest in the Gramalote Joint Venture and will become manager of the Gramalote Project in Colombia. The Gramalote Project to date was managed by B2Gold, which will retain its 49% interest in the Gramalote Joint Venture." More
- August 12, 2010 | Item | ShareThis
AngloGold Ashanti Profit More Than Doubles on Production Growth - "AngloGold Ashanti's (NYSE:AU - News) adjusted headline earnings more than doubled to $129m after posting lower costs and a strong increase in production from its mines in South Africa and the Americas." More
- August 12, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Thursday, 12 August 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Roughly 1%
