-- Posted Thursday, 19 August 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1232.80 | +$3.20 |
Silver | $18.32 | -$0.06 |
XAU | 179.29 | -0.86% |
HUI | 471.14 | -0.56% |
GDM | 1427.97 | -0.67% |
JSE Gold | 2483.71 | +26.10 |
USD | 82.46 | +0.20 |
Euro | 128.19 | -0.38 |
Yen | 117.15 | +0.10 |
Oil | $74.43 | -$0.99 |
10-Year | 2.579% | -0.062 |
T-Bond | 134.375 | +1.00 |
Dow | 10271.21 | -1.39% |
Nasdaq | 2178.95 | -1.66% |
S&P | 1075.63 | -1.69% |
The Metals:
Gold fell slightly to $1227.15 in London before it rose to as high as $1237.20 by about 10:30AM EST and then dropped back down to $1228.55 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a gain of 0.26%. Silver climbed to $18.57 in early New York trade before it fell to $18.195 by about noon EST and then rallied back higher in late trade, but it still ended with a loss of 0.33%.
Euro gold rose to about €962, platinum fell $9.50 to $1520, and copper dropped a few cents to about $3.32.
Gold and silver equities saw slight gains in early trade before they fell to see about 2% losses midday, but they then rallied back higher in afternoon trade and ended only slightly lower.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 8/14 | 500K | 475K | 488K |
Leading Indicators | July | 0.1% | 0.2% | -0.3% |
Philadelphia Fed | Aug | -7.7 | 7.5 | 5.1 |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries rose on risk aversion/safe haven buying/cash raising after today’s notably worse than expected economic data sent the Dow, Nasdaq, and S&P almost 2% lower on the day.
Among the big names making news in the market today were Intel and McAfee, GM, Sears, ConAgra, Outspark, Volkswagen, and Hewlett-Packard.
GATA Posts:
Peter Brimelow: Gold gearing up?
Hinde Capital report: Silver velocity -- the coming bullet
GATA distributes international press release on Douglas study
Adrian Douglas: The imminent failure of the second London Gold Pool
Alasdair Macleod: Central banks in deep trouble for their gold manipulation
Ian Gordon: Lies, manipulation, and deception -- all for naught
The Statistics:
Activity from: 8/17/2010
Gold Warehouse Stocks: | 10,963,549 | -63,737 |
Silver Warehouse Stocks: | 111,029,218 | +1,094,375 |
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 | 1295.516 | 41,652,134 | US$51,365m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 125.96 | 4,049,765 | US$4,977m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,665 | US$563m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.36 | 1,587,055 | US$1,933m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,971 | US$ |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.912 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 93.52: +1.14 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9151.03 - No change from yesterday’s data.
The Miners:
IAMGOLD’s (IAG) commercial production achievement, Gammon Gold’s (GRS) shareholder rights plan, Seabridge’s (SA) project economics, ITH’s (THM) new team members, Golden Minerals’ (AUMN) updated resource estimate, Impact Silver’s (IPT.V) drilling, and Minefinders’ (MFN) discovery were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Timberline | TLR +19.55% $1.04 |
2. Vista Gold | VGZ+12.35% $1.91 |
3. Almaden | AAU +8.97% $1.82 |
LOSERS
1. Paramount | PZG -3.85% $1.25 |
2. Jaguar | JAG -3.34% $6.08 |
3. Mines MGMT | MGN-2.98% $1.63 |
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:
Gammon Gold adopts takeover defense, stock soars - "Gammon Gold Inc (GAM.TO), a mid-tier gold producer with mines in Mexico, said on Thursday its board approved a poison pill defense against takeovers as merger and acquisition activity builds in the sector.
Toronto-based Gammon Gold said the shareholder rights plan, as it is officially known, was not adopted to protect against a known advance by a potential bidder." More
- August 19, 2010 | Item | ShareThisShareThis
AMSECO Exploration Commences the Initial Phase of an Induced Polarisation and Ground Magnetics Survey on its Malartic I JV Property, Malartic 1, Quebec - More
- August 19, 2010 | Item | ShareThisShareThis
Indicator Minerals to Acquire 100% Interest in Mohave Copper-Moly-Silver Project - More
- August 19, 2010 | Item | ShareThisShareThis
Dorato Announces Start of Regional Airborne Geophysical Survey - More
- August 19, 2010 | Item | ShareThisShareThis
Willow Creek Corporate Update - More
- August 19, 2010 | Item | ShareThisShareThis
Outstanding Intersections Continue From 2010 Minago Drilling - More
- August 19, 2010 | Item | ShareThisShareThis
Petaquilla Signs Prepaid Forward Gold Purchase Agreement - More
- August 19, 2010 | Item | ShareThisShareThis
Canadian International Minerals Inc. - Diamond drill permits for Carbo rare earth project received - More
- August 19, 2010 | Item | ShareThisShareThis
High Desert Gold Announces Strong Drill Results from Its Gold Springs Project on the Nevada-Utah Border - More
- August 19, 2010 | Item | ShareThisShareThis
Bravada Begins First Deep Test of PH Project in Nevada - More
- August 19, 2010 | Item | ShareThisShareThis
Globex Samples Return High Grade Rare Earth Assays at Turner Falls Property - More
- August 19, 2010 | Item | ShareThisShareThis
Matamec Discovers Boulders Containing Up to 86% HeavyREO Y2O3/TREO and 6.96% Niobium - More
- August 19, 2010 | Item | ShareThisShareThis
Jiminex Inc. updates on Hemlo, Ontario Gold Project - More
- August 19, 2010 | Item | ShareThisShareThis
Arehada Provides Update on Shareholders' Meeting and Related Party Loan - More
- August 19, 2010 | Item | ShareThisShareThis
Solomon to drill test Radius's Ten Mile Creek Gold Project; Radius Acquires Additional Yukon Ground - More
- August 19, 2010 | Item | ShareThisShareThis
GobiMin Announces Second Quarter 2010 Results - More
- August 19, 2010 | Item | ShareThisShareThis
Eagle Hill Hits Significant Gold in the First 10 Holes of the Windfall Lake Summer Drill Program - More
- August 19, 2010 | Item | ShareThisShareThis
IMPACT SILVER SAMPLES 4,800 g/t SILVER OVER 1.25 METERS AND COMMENCES DRILLING AT GOLONDRINAS (ZACUALPAN) - "IMPACT Silver Corp. ("IMPACT" or "the Company") is pleased to announce that the drill has now moved onto the Golondrinas Project Area ("Golondrinas") of the Royal Mines of Zacualpan Silver-Gold District in Mexico while awaiting drill results from the nearby Chontalpan Project Area. Golondrinas is located three kilometers southeast of IMPACT's Guadalupe processing plant (see IMPACT news release dated July 27, 2010)." More
- August 19, 2010 | Item | ShareThisShareThis
IAMGOLD Achieves Commercial Production at Essakane Effective July 16, 2010 - "IAMGOLD Corporation ("IAMGOLD" or the "Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) today announced that its Essakane gold mine in Burkina Faso has achieved commercial production effective July 16, 2010. The plant began to process material to test circuits in late June 2010, reaching the throughput, production and other operational standards to meet commercial production requirements beginning July 16, 2010. The plant has since met those performance criteria consistently for the necessary 30 consecutive days (the 'Start Up Period") to declare commercial production." More
- August 19, 2010 | Item | ShareThisShareThis
South American Silver Corp.'s Second Quarter President's Message and Project Update - More
- August 19, 2010 | Item | ShareThisShareThis
Focus Metals to Acquire Lac Knife Graphite Project from IAMGOLD and to Conduct a Private Placement of $350,000 - More
- August 19, 2010 | Item | ShareThisShareThis
Gammon Gold Inc Adopts a Shareholder Rights Plan - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News): announced today that its Board of Directors has approved the adoption of a shareholder rights plan agreement (the "Plan") effective August 19, 2010 (the "Effective Date"). The Plan is designed to ensure that Gammon's shareholders are treated fairly in the event of a take-over bid for Gammon's common shares and that Gammon's Board of Directors and shareholders will have adequate time to evaluate any unsolicited take-over bid and, if appropriate, evaluate and pursue other alternatives to maximize shareholder value." More
- August 19, 2010 | Item | ShareThisShareThis
Canasil and MAG Silver Sign Option and Joint Venture Agreement on La Esperanza Project in Zacatecas/Durango States, Mexico - More
- August 19, 2010 | Item | ShareThisShareThis
Soltoro Drills 61.5 Metres of 106 gpt Silver on Step Out Hole at Las Bolas Deposit on the El Rayo Project in Jalisco, Mexico - More
- August 19, 2010 | Item | ShareThisShareThis
Commander Extends Malrock Gold Zone With Initial Drill Results - More
- August 19, 2010 | Item | ShareThisShareThis
Calibre Intersects 8.53 Metres of 4.23 g/t Gold and 384.86 g/t Silver at the Riscos De Oro Gold-Silver Property, Nicaragua - More
- August 19, 2010 | Item | ShareThisShareThis
Eagle Plains Completes 100% Acquisition of Yellowjacket Gold Project - More
- August 19, 2010 | Item | ShareThisShareThis
Gammon Gold adopts poison pill takeover defense - "Gammon Gold Inc (GAM.TO), a mid-tier gold producer with mines in Mexico, said on Thursday its board approved a poison pill defense against takeovers as merger and acquisition activity builds in the sector.
Toronto-based Gammon Gold said the shareholder rights plan, as it is officially known, was not adopted to protect against a known advance by a potential bidder." More
- August 19, 2010 | Item | ShareThisShareThis
Element92 Resources Corp. Changes Name to Yinfu Gold Corporation - More
- August 19, 2010 | Item | ShareThisShareThis
Rainy River Announces Board Approval of Increased Exploration Budget - More
- August 19, 2010 | Item | ShareThisShareThis
Fire River Gold Announces 215 g/t (6.27 opt) Gold Over 0.2 m (0.7 ft) At the Nixon Fork Gold Mine, Alaska - More
- August 19, 2010 | Item | ShareThisShareThis
Teryl Resources Announces Additional Assay Results on the Gil Joint Venture Gold Property in Alaska - More
- August 19, 2010 | Item | ShareThisShareThis
Minefinders Discovers New Mineralized Zone at the Dolores Mine - "Minefinders Corporation Ltd. (TSX:MFL - News)(AMEX:MFN - News) is pleased to report the discovery of the North Dome deposit, a new zone of mineralization located on the east flank of the North Dome intrusive approximately 250 to 400 meters northeast of the north end of the main Dolores deposit." More
- August 19, 2010 | Item | ShareThisShareThis
AmeriLithium Reports Significant Second Stage Exploration Results on Nevada Lithium Project - More
- August 19, 2010 | Item | ShareThisShareThis
Rockgate Intersects 6m @ 1.34% U3O8 at Falea Project, Mali, West Africa - More
- August 19, 2010 | Item | ShareThisShareThis
Silver Shield announces shares for debt settlement - More
- August 19, 2010 | Item | ShareThisShareThis
Farallon Announces Extension of Zinc and Copper Concentrates Contracts up to December 2014 - More
- August 19, 2010 | Item | ShareThisShareThis
White Canyon Announces Initial JORC Estimate of Daneros Deposit - More
- August 19, 2010 | Item | ShareThisShareThis
General Moly Announces Completion of Preliminary Draft Environmental Statement - More
- August 19, 2010 | Item | ShareThisShareThis
Drilling at Platinex's Shining Tree Property Identifies Large Structural Gold System - More
- August 19, 2010 | Item | ShareThisShareThis
Projected Economics Continue to Improve at Seabridge Gold's KSM Project - "Ongoing engineering work to optimize the March 31, 2010 Preliminary Feasibility Study ("PFS") on Seabridge Gold's (TSX:SEA - News)(AMEX:SA - News) 100% owned KSM Project is generating significant economic enhancements. New metallurgical test work undertaken by G&T Metallurgical Services Inc. ("G&T") confirms that a higher grade copper concentrate can be produced from the project and a coarser grind can be used without sacrificing copper recoveries. In total, these improvements are estimated to reduce the PFS Base Case average annual operating costs by US$12.8 million (about US$20 per ounce of gold produced) or approximately US$465 million over the nearly 37 year projected mine life." More
- August 19, 2010 | Item | ShareThisShareThis
Gryphon Gold Announces Extension of Option to Fix Borealis Royalty - More
- August 19, 2010 | Item | ShareThisShareThis
Melkior Intersects 28.25 g/t Over 1.60 Metres on the Carscallen Gold Project, West Timmins Area, Ontario - More
- August 19, 2010 | Item | ShareThisShareThis
Primero to Trade on TSX Under Symbol "P" - More
- August 19, 2010 | Item | ShareThisShareThis
Infinito Gold Ltd. Signs Letter of Intent to Sell Guyanese Assets to Shoreham - More
- August 19, 2010 | Item | ShareThisShareThis
Riverside Resources Announces $1.45 Million Private Placement With Cliffs Natural Resources Exploration Inc. - More
- August 19, 2010 | Item | ShareThisShareThis
Medoro Completes Second Stage of the Series of Transactions Leading to Its Joint Venture Interest in the High Grade Frontino Gold Mines in Colombia - More
- August 19, 2010 | Item | ShareThisShareThis
Firestone Ventures Completes Fieldwork on Antelope Zinc-Lead-Silver Project - More
- August 19, 2010 | Item | ShareThisShareThis
ICS acquires 100% of Excelsior Springs Gold property (Nevada) - More
- August 19, 2010 | Item | ShareThisShareThis
Boliden Inaugurates New Mine - More
- August 19, 2010 | Item | ShareThisShareThis
Mongora Yields More Positive Results for Greystar Resources - More
- August 19, 2010 | Item | ShareThisShareThis
International Tower Hill Adds Depth to its Livengood Project Development and Marketing Team - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the addition of two key members of the Livengood project development team. Keith Malone has accepted the position of Manager of Technical Services and Richard Moses has agreed to come on as Livengood Site Manager. Both Keith and Richard will report to Karl Hanneman, the Livengood Project General Manager. In addition, Shirley Zhou has become a consultant to ITH and will be the Manager of Corporate Communications." More
- August 19, 2010 | Item | ShareThisShareThis
Golden Minerals Announces a Significant Increase in the El Quevar Project Resource Estimate - "Golden Minerals Company (AMEX:AUMN - News) (TSX:AUM - News) ("Golden Minerals" or "the Company") is pleased to provide an updated resource estimate for the Yaxtché deposit of its 100% controlled El Quevar project located in the Salta Province of northwestern Argentina. The new resource estimate shows an increase of 42% from the January 2010 resource estimate. The new resource estimate is based on a Canadian National Instrument 43-101 ("NI 43-101") compliant technical report prepared by Micon International Limited ("Micon") dated August 10, 2010." More
- August 19, 2010 | Item | ShareThisShareThis
- Chris Mullen, Gold Seeker Report
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
Additional Resources for today’s Gold Seeker Report can be found:
© Gold Seeker 2010
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.
Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted Thursday, 19 August 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Mixed While Stocks Drop
