-- Posted Tuesday, 24 August 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1230.70 | +$4.10 |
Silver | $18.37 | +$0.37 |
XAU | 173.16 | -1.52% |
HUI | 457.92 | -0.98% |
GDM | 1389.63 | -1.07% |
JSE Gold | 2445.58 | -14.54 |
USD | 83.14 | -0.07 |
Euro | 126.73 | +0.16 |
Yen | 118.81 | +1.29 |
Oil | $71.63 | -$1.47 |
10-Year | 2.499% | -0.108 |
T-Bond | 135.75 | +1.625 |
Dow | 10040.45 | -1.32% |
Nasdaq | 2123.76 | -1.66% |
S&P | 1051.87 | -1.45% |
The Metals:
Gold fell as much as $16.50 to $1210.10 by about 8:30AM EST before it rallied to see an $8.75 gain at $1235.35 and then fell back off a bit into the close, but it still ended with a gain of 0.33%. Silver dropped to as low as $17.73 and climbed to as high as $18.452 before it also moderated its gains a bit in the last few hours of trade, but it still ended with an impressive gain of 2.06%.
Euro gold rose to about €970, platinum gained $11.50 to $1512, and copper fell 5 cents to about $3.24.
Gold and silver equities fell over 2% at the open before they rallied back to see slight gains by late morning, but they then fell back off in afternoon trade and ended with about 1% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Existing Home Sales | July | 3.83M | 4.72M | 5.26M |
Tomorrow at 8:30AM EST brings Durable Goods Orders for July expected at 3.0%. Excluding transportation, orders are expected at 0.5%. At 10AM is the New Home Sales report for July expected at 334,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
The U.S. dollar index fell as yen rose on risk aversion.
Treasuries retained early gains after today’s $37 billion 2-year note auction sold at a yield of 0.498% with a bid to cover of 3.12.
Oil fell along with the Dow, Nasdaq, and S&P on economic worries after it was announced that Existing Home Sales fell much more than expected to the lowest in 15 years.
Among the big names making news in the market today were BHP, Toll Brothers, Wells Fargo, Barnes and Noble, and DuPont.
GATA Posts:
Over lunch with the FT, more ignorant snickering about gold
Douglas' study of London gold fix's price suppression is posted in Spanish
Ambrose Evans-Pritchard: America no longer needs Chinese money, for now
The Statistics:
Activity from: 8/23/2010
Gold Warehouse Stocks: | 10,868,625 | -64 |
Silver Warehouse Stocks: | 111,603,800 | +93,097 |
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 | 1299.468 | 41,779,204 | US$51,038m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 125.81 | 4,044,768 | US$4,978m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,640 | US$562m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.36 | 1,587,055 | US$1,933m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,970 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.82 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 93.98 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9151.03 - No change from yesterday’s data.
The Miners:
Brigus Gold’s (CRD) retired convertible debentures, Kirkland’s (KGI.TO) expanded joint venture, Revett’s (RVM.TO) closed private placement, Sabina’s (SBB.V) exploration results, Silvermex’s (SMR.V) drill results, and Silver Quest’s (SQI.V) exploration update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Tanzanian Royalty | TRE +2.49% $5.35 |
2. Vista Gold | VGZ +1.06% $1.91 |
3. Timberline | TLR +0.97% $1.04 |
LOSERS
1. Almaden | AAU-8.97% $2.13 |
2. Taseko | TGB-7.22% $4.11 |
3. Solitario | XPL -5.05% $1.88 |
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:
Airborne Magnetic Survey Started over Miranda Gold's Pavo Real Project in Colombia - More
- August 24, 2010 | Item | ShareThis
LINCOLN TO PURCHASE CAVANAUGH CLAIMS AT PINE GROVE PROPERTY - More
- August 24, 2010 | Item | ShareThis
Rare Element Comments on Recent Market Activity - More
- August 24, 2010 | Item | ShareThis
Aurora Gold Corporation Announces That It Has Engaged the Sovereign Management Group Ltd. to Oversee Project Management at Its Front Range Project in Colorado - More
- August 24, 2010 | Item | ShareThis
Brigus Gold Retires Convertible Debentures - "Brigus Gold Corp. (“Brigus Gold” or the “Company”) (TSX: BRD - News)(NYSE Amex: BRD) announces that the Company has retired its outstanding, unsecured convertible debentures by paying $4.68 million in principal and interest on August 23, 2010 (“Convertible Debentures”). All dollar amounts in this news release are in U.S. dollars." More
- August 24, 2010 | Item | ShareThis
Yukon-Nevada Gold Corp. to Hold Conference Call Regarding Ys Mining's Proposal to Tagish Lake - More
- August 24, 2010 | Item | ShareThis
Revett Closes $3.4 Million Private Placement for Troy Mine Exploration and Development - "Revett Minerals Inc. (TSX:RVM - News) (OTC.BB:RVMIF - News) ("Revett" or the "Company) is pleased to announce that it has closed a non-brokered private placement of its shares to accelerate ongoing exploration and development at the Troy Mine. The private placement consisted of the sale of 12,094,368 equity units at a price of CDN$0.28 per unit for gross proceeds to the Company of CDN$3,386,423." More
- August 24, 2010 | Item | ShareThis
Opawica Explorations Inc. announces filing of Atikwa Lake project preliminary scoping study - More
- August 24, 2010 | Item | ShareThis
Sabina Gold & Silver Announces Discovery of New Mineralized Lenses and Copper Stringer Zones at Hackett River Project, Nunavut - "Exploration programs in 2010 at Hackett focused on quantifying previously identified targets with a view to increasing the existing resource by at least 10%. To this end, drilling has focused on finding higher value mineralization (copper/silver/gold stringer zones), drilling peripherally to the current deposits to identify additional mineralization, and infill drilling the currently proposed pit shells in an effort to convert waste material to mineralization." More
- August 24, 2010 | Item | ShareThis
Gee-Ten Ventures Announces Closing of Private Placement - More
- August 24, 2010 | Item | ShareThis
Cadillac Ventures Inc.: Drilling Commences on Thierry Mine Project - More
- August 24, 2010 | Item | ShareThis
Kent Receives Check Assays of 110.76 g/t Au and 120.52 g/t Au in Hole BN003 at Bunarra Prospect, Gnaweeda Gold Project - More
- August 24, 2010 | Item | ShareThis
Yorbeau Reports Excellent Metallurgical Test Results and Provides Update on Exploration Activities on its Rouyn Property - More
- August 24, 2010 | Item | ShareThis
Millstream Mines Ltd.: Tamarack Potential Open Pit 1,000,000 Tons-Clarification - More
- August 24, 2010 | Item | ShareThis
Victoria Gold Closes $28.8 Million Financing - More
- August 24, 2010 | Item | ShareThis
Canarc's Tay-LP Option Agreement with Cap-Ex Ventures Receives TSX-V Acceptance - More
- August 24, 2010 | Item | ShareThis
Pro-Or Mining Resources Inc.: Closing of the Private Placement of $750,000 - More
- August 24, 2010 | Item | ShareThis
Goldeye Intersects Wide Gold-Mineralized Zones, Updates Exploration, Shining Tree Project - More
- August 24, 2010 | Item | ShareThis
Goldstone Receives Meeting Requisition from Shareholder - More
- August 24, 2010 | Item | ShareThis
Crazy Horse Provides Update on Taysan Copper-Gold Project - More
- August 24, 2010 | Item | ShareThis
Supatcha Resources Announces Stock Split - More
- August 24, 2010 | Item | ShareThis
New Guinea Gold Announces Further High Grade Gold and Copper Drill Results Below the Southern Oxide Pit at Sinivit Mine in PNG - More
- August 24, 2010 | Item | ShareThis
Otish Energy Releases NI 43-101 Technical Report on Puruni Gold Project, Guyana - More
- August 24, 2010 | Item | ShareThis
Guinness Exploration Senior Management Complete On-Site Operations Inspection of Nantawa Project - More
- August 24, 2010 | Item | ShareThis
British Columbia Supreme Court grants judgment in favour of Avanti - More
- August 24, 2010 | Item | ShareThis
AmeriLithium Pays Yearly Maintenance Fees for 2011 on 216 Lithium Brine Claims in Nevada - More
- August 24, 2010 | Item | ShareThis
BCGold Corp. Closes Flow-Through Private Placement - More
- August 24, 2010 | Item | ShareThis
Laurion Announces Aggressive Drill Program on Bell Mountain Gold Project, Nevada - More
- August 24, 2010 | Item | ShareThis
Alderon Intersects 30% Iron Over 604.5 Metres - More
- August 24, 2010 | Item | ShareThis
Fission Energy Corp.: Expenditures at Waterbury Lake Double to $30 Million Over Three Years - More
- August 24, 2010 | Item | ShareThis
New Strategic Acquisitions for Midland East of the Duparquet Gold Mining Camp - More
- August 24, 2010 | Item | ShareThis
First Liberty Power Corp. Announces New Director-Geologist - More
- August 24, 2010 | Item | ShareThis
Geophysics defines 600 metre long IP anomaly at Ayawilca zone, Colquipucro project, Peru - More
- August 24, 2010 | Item | ShareThis
East Asia Minerals Verifies Miwah Drill Results via Independent Qualified Third Party - More
- August 24, 2010 | Item | ShareThis
Manicouagan Minerals Provides Update on Pickle Lake Gold Projects and Reports Results of First Phase of Summer 2010 Gold Exploration Program - More
- August 24, 2010 | Item | ShareThis
Lithium Corporation Initiates Drill Permitting at Fish Lake Valley Prospect - More
- August 24, 2010 | Item | ShareThis
Sunridge Gold Appoints Vice President Project Development for the Asmara Project, Eritrea - More
- August 24, 2010 | Item | ShareThis
Kaminak Discovers Second High-Grade Gold Zone at Double Double: Drill Hole CFD-28 Intersects 15.9 g/t Au over 5m - More
- August 24, 2010 | Item | ShareThis
Metanor Resources Inc.: Barry NI 43-101 Resource Calculation Ready During the Week of September 15, 2010 - More
- August 24, 2010 | Item | ShareThis
Anaconda Made Improved Offer; New Island Board of Directors Allows Offer to Expire - More
- August 24, 2010 | Item | ShareThis
Mandalay Resources Corporation Announces Initial Drilling Results at its Costerfield Gold-Antimony Mine - More
- August 24, 2010 | Item | ShareThis
Champion Minerals Reports Favourable Iron Recoveries from Metallurgical Tests at Fire Lake North With No Significant Contaminants Reporting to Concentrate - More
- August 24, 2010 | Item | ShareThis
Nemaska Exploration Engages Industrial Minerals Consultants for Scoping Study on Whabouchi Lithium/Beryllium Project - More
- August 24, 2010 | Item | ShareThis
Taku Acquires Five New Properties to Become Second Largest Claim Holder in White Gold District of Yukon - More
- August 24, 2010 | Item | ShareThis
TVI Enhances Investor Awareness and Access in the U.S. - More
- August 24, 2010 | Item | ShareThis
Guyana Goldfields announces new additions to the Aurora Gold Project team - More
- August 24, 2010 | Item | ShareThis
Bayswater Receives Drilling Permit & Commences Drilling of Monitoring Wells at Reno Creek Project, Wyoming - More
- August 24, 2010 | Item | ShareThis
Timmins Gold Corp.: 12.19 Meters Grading 4.39 gpt Gold and 13.72 meters Grading 3.88 gpt Gold Intercepted Up to 250 meters Southwest of San Francisco Pit - More
- August 24, 2010 | Item | ShareThis
American Manganese Inc.: Patent Application Submitted for Energy Efficient and Environmentally Friendly Process to Produce Electrolytic Manganese Metal - More
- August 24, 2010 | Item | ShareThis
Astur Gold Appoints Osisko Mining CEO to Board of Directors - More
- August 24, 2010 | Item | ShareThis
Silvermex Announces Positive Results of San Marcial Drill Program - "Silvermex Resources Ltd. ("Silvermex") (TSX-V:SMR - News) is pleased to announce that is has completed a twenty-two hole, 3,706.5 meter diamond drill program on its San Marcial silver property located in southern Sinaloa state, Mexico." More
- August 24, 2010 | Item | ShareThis
Silver Quest Provides Update on Yukon Exploration Programs - "Silver Quest has completed a 20 hole (3,006 m) diamond drilling program at the Boulevard Project. Drill holes targeted bedrock mineralization below the three gold-arsenic +/- antimony soil geochemical anomalies defined earlier this season (see news release July 13, 2010). Drill core samples have been submitted for laboratory analysis. Results are pending and will be released once they are received by the Company. Boulevard is located 135 kilometres south of Dawson City, 35 kilometres south of Kinross' Golden Saddle gold deposit and 10 kilometres southwest of Kaminak's Coffee gold discoveries." More
- August 24, 2010 | Item | ShareThis
Kirkland Lake Gold and Queenston Mining Expand Strategic Joint Venture - "Under the terms of the (new) agreement, Kirkland Lake Gold will expend $400,000.00 in exploration expenses over a one year period whilst Queenston will contribute seven claims from its 100% owned Amalgamated Kirkland property and eight claims from its Kirkland Hudson property. Upon earning a 50% interest, this joint venture will be rolled into and guided by the current South Claims Joint Venture agreement. The planned exploration will consist of driving a drift from the 5300' level of the Macassa mine south-eastward onto the Amalgamated Kirkland property and establish a drilling station to target the South Mine Complex on the Amalgamated Kirkland and adjoining HM and South Claims joint venture properties." More
- August 24, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Tuesday, 24 August 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold Rises Slightly While Silver Gains Over 2%
