-- Posted Tuesday, 31 August 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1247.60 | +$10.60 |
Silver | $19.37 | +$0.33 |
XAU | 185.15 | +1.25% |
HUI | 487.82 | +1.13% |
GDM | 1477.49 | +0.96% |
JSE Gold | 2500.89 | +34.12 |
USD | 83.12 | -0.05 |
Euro | 126.76 | +0.12 |
Yen | 118.99 | +0.81 |
Oil | $71.92 | -$2.78 |
10-Year | 2.477% | -0.068 |
T-Bond | 136.4375 | +0.96875 |
Dow | 10014.72 | +0.05% |
Nasdaq | 2114.03 | -0.28% |
S&P | 1049.33 | +0.04% |
The Metals:
Gold traded mostly slightly lower in Asia and London before it jumped higher in early New York trade and saw an over $10 gain at $1247.35 ahead of a slight dip midmorning, but it then advanced to new highs in the last few hours of trade and ended near its last minute high of $1249.75 with a gain of 0.86%.
Silver fell almost 1.5% to $18.76 in London before it jumped to as high as $19.288 in early New York trade and then pared its gains a bit, but it ultimately rose to new highs in late trade and ended near its last minute high of $19.405 with a gain of 1.73%.
Euro gold rose to about €983, platinum lost $8.75 to $1516.50, and copper fell 5 cents to about $3.36.
Gold and silver equities rose over 2% at the open and remained near their highs through midday before they fell back off a bit in the last couple of hours of trade, but they still ended with about 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Case-Shiller 20-city Index | June | 4.23% | 3.1% | 4.64% |
Chicago PMI | Aug | 56.7 | 57.0 | 62.3 |
Consumer Confidence | Aug | 53.5 | 50.0 | 51.0 |
Minutes from the fed’s last meeting on August 10th showed that FOMC members “were concerned last month that a decision to stop their securities holdings from shrinking would send the wrong signal that the central bank was ready to resume large-scale asset purchases.”
Tomorrow at 8:15AM EST brings APD Employment for August expected at 13,000 and at 10AM is Construction Spending for July expected at -0.7% and the ISM Index for August expected at 52.9.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
The U.S. dollar index fell in early trade as the yen rose on the view that the Bank of Japan’s recent moves will not be enough to halt the yen’s recent advance towards new 15-year highs, but the dollar then pared its loss in late trade and only ended slightly lower after the release of the fed’s most recent meeting minutes.
Treasuries rose as oil fell and the Dow, Nasdaq, and S&P erased early gains and ended mixed after FOMC Minutes showed that fed members expressed restraint over their last meeting’s decision to keep its balance sheet at elevated levels while they also maintained concerns over a weak economy.
Among the big names making news in the market today were 3M, Lions Gate, Mark Hurd, and Monsanto.
GATA Posts:
Robert Kientz: Gold, silver market suppression failures flash buy signal
Now that GATA can be quoted, can central banks be asked?
The Statistics:
Activity from: 8/30/2010
Gold Warehouse Stocks: | 10,816,904 | - |
Silver Warehouse Stocks: | 110,765,138 | +6,708 |
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 | 1298.556 | 41,749,881 | US$52,001m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 127.07 | 4,085,421 | US$5,097m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 126.40 | 4,063,913 | US$5,071m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,604 | US$571m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.60 | 1,594,661 | US$1,969m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,970 | US$ |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 1.12 tonnes and the LSE ETFS added 0.62 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 95.01: +0.51 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9196.69 - No change from yesterday’s data.
The Miners:
Brigus Gold’s (BRD) exploration drilling, Gammon Gold’s (GRS) option agreements on the Los Jarros concessions, Richmont’s (RIC) drill results, Gold Resource Corporation’s (GORO) dividend, and ECU Silver’s (ECU.TO) new vein discovery were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Kinross Gold | KGC +4.12% $16.92 |
2. Allied Nevada | ANV +3.58% $23.45 |
3. Golden Star | GSS +2.39% $4.72 |
LOSERS
1. Silver Wheaton | SLW -1.31% $22.56 |
2. Richmont | RIC -1.11% $4.47 |
3. Timberline | TLR -0.93% $1.06 |
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:
Geodex Minerals Ltd.: Hunter Dickinson Group Options Sisson Brook Tungsten-Molybedenum Project, New Brunswick, for $17 Million in Expenditures - More
- August 31, 2010 | Item | ShareThis
Cardero Intersects Massive Iron-Titanium and Copper Mineralization at TiTac and Longnose Projects in Minnesota - More
- August 31, 2010 | Item | ShareThis
Arctic Enters Into an Option Agreement With Big Red Diamond Corp. on a Rare Earth Element Property Near Sept-Iles, Que. - More
- August 31, 2010 | Item | ShareThis
Frontline-Stewart Exploration Update; Stock Options Withdrawn - More
- August 31, 2010 | Item | ShareThis
Dia Bras Begins Drilling the La Cascada Gold Target at Bolivar Project - More
- August 31, 2010 | Item | ShareThis
Mountain Boy Minerals Ltd.: Bonanza Gold-Silver Mineralization With 105 g/t Gold and 1748 g/t Silver Identified at FR Property - More
- August 31, 2010 | Item | ShareThis
TNR Gold Corp.: 33% Increase in Project Area to 160 Square Kilometres, Mariana Lithium Brine Project, Argentina - More
- August 31, 2010 | Item | ShareThis
Brigus Gold Significantly Increases Exploration Drilling at Black Fox Complex - "Brigus Gold Corp. (“Brigus Gold” or the “Company”) (TSX: BRD)(NYSE Amex: BRD) has expanded its planned exploration drill program at the Black Fox Complex in the Timmins Gold District, Ontario to include a minimum of 15,000 metres (“m”) of surface drilling. The Black Fox Complex comprises the Black Fox Mine and Mill, and the Grey Fox-Pike River property, adjoining the mine and along strike of the Black Fox gold deposit." More
- August 31, 2010 | Item | ShareThis
GWR Resources Announces In-House Investor Relations - More
- August 31, 2010 | Item | ShareThis
Merc International Minerals-Management Changes - More
- August 31, 2010 | Item | ShareThis
SLAM ISSUES TENDER TO DRILL BONANZA GOLD DEPOSIT - More
- August 31, 2010 | Item | ShareThis
First Gold Continues to Expand the Mineralized Zones - More
- August 31, 2010 | Item | ShareThis
SNS Provides Exploration Update on its Ontario and Idaho Properties - More
- August 31, 2010 | Item | ShareThis
Gold Bullion Expands Long Bars Zone Eastern Extension - More
- August 31, 2010 | Item | ShareThis
UC Resources Ltd. Begins Drilling at Xora Claim, Mexico - More
- August 31, 2010 | Item | ShareThis
GWR Resources Provides Corporate Updates - More
- August 31, 2010 | Item | ShareThis
Houston Lake Reports First Quarter Results - More
- August 31, 2010 | Item | ShareThis
Avanti reports results to June 30, 2010 and provides update on Kitsault - More
- August 31, 2010 | Item | ShareThis
Golden Goose and Kodiak Exploration Sign Binding Merger Agreement - More
- August 31, 2010 | Item | ShareThis
Kodiak and Golden Goose Combine to Form Well-Financed Gold Company with Near Term Production Potential - More
- August 31, 2010 | Item | ShareThis
Laurion Announces Drill Results on the Marge Vein, Sturgeon River, Beardmore, ON - More
- August 31, 2010 | Item | ShareThis
7100 metre drill program at Sirba Gold Project, Niger - More
- August 31, 2010 | Item | ShareThis
First Metals Inc. Receives Indenture Default and Interest Forbearance from Majority of Bond Holders - More
- August 31, 2010 | Item | ShareThis
Sulliden Ramps Up Exploration Activities on Shahuindo - More
- August 31, 2010 | Item | ShareThis
Rio Cristal Resources Completes US$3,284,098 Financing - More
- August 31, 2010 | Item | ShareThis
Sutter Gold Mining Secures US $3.65 Million Loan Financing - More
- August 31, 2010 | Item | ShareThis
Glen Eagle Resources Inc.: Drilling - More
- August 31, 2010 | Item | ShareThis
First Uranium Temporarily Closes Ezulwini Uranium Plant for Column Replacement - More
- August 31, 2010 | Item | ShareThis
Goldstone Resources Key Lake Results - More
- August 31, 2010 | Item | ShareThis
EMC Appoints Jordan Capital Markets Inc. as Advisor and Sales Agent for Sale of Springer Tungsten Mine Asset in Nevada - More
- August 31, 2010 | Item | ShareThis
Dauntless Capital Corp. Announces Closing of Qualifying Transaction - More
- August 31, 2010 | Item | ShareThis
Consolidated Goldfields to Commence Drilling at the Cahuilla Project - More
- August 31, 2010 | Item | ShareThis
Lundin Reports 2010 Reserve & Resource Estimate - More
- August 31, 2010 | Item | ShareThis
i-minerals Completes Infill Drilling of Halloysite-Kaolinite Bearing Primary Clay at WBL; Second Zone of Primary Clay Confirmed on Adjacent Ridge - More
- August 31, 2010 | Item | ShareThis
Tarsis Drills 0.71% Copper and 0.41 g/t Gold over 7.80 meters at MOR, Yukon - More
- August 31, 2010 | Item | ShareThis
Globex Acquires a Manganese-Iron Asset in New Brunswick - More
- August 31, 2010 | Item | ShareThis
Lake Victoria Begins Drilling at Singida-Londoni Gold Project, Central Tanzania - More
- August 31, 2010 | Item | ShareThis
NSGOLD CORPORATION EXPANDS LAND HOLDINGS AT MOOSELAND GOLD PROJECT - More
- August 31, 2010 | Item | ShareThis
Mustang Geothermal Corp. Completes Purchase of Geothermal Leases - More
- August 31, 2010 | Item | ShareThis
Continental Gold Drills 14.3 Metres at 446g/t Gold and 166g/t Silver in the Veta Sur System, Buritica Gold Project, Colombia - More
- August 31, 2010 | Item | ShareThis
Skyline Announces Appointment of Director Mr. Patrick Soares - More
- August 31, 2010 | Item | ShareThis
African Gold Group, Inc. Step-Out Hole RPA10-003 Intercepts 44 Meters of 2.11 g/t Au & 17 Meters of 1.65 g/t Au-New Gold Zone Opens Up Kobada South - More
- August 31, 2010 | Item | ShareThis
Stronghold Announces Dr. Michael J. Byron Joins Senior Management Team as Vice President of Exploration - More
- August 31, 2010 | Item | ShareThis
Midland Exploration and North American Palladium Commence First Drilling Program on Laflamme - More
- August 31, 2010 | Item | ShareThis
United Mining Group Receives Conditional Approval for TSX Listing - More
- August 31, 2010 | Item | ShareThis
Golden Harp Signs Definitive Agreement to Option a 60% Interest in the Main Block Gold Property in the Shining Tree Mining Camp - More
- August 31, 2010 | Item | ShareThis
Castle Resources to Acquire 100% Interest in the Granduc Copper Mine, Stewart, B.C. - More
- August 31, 2010 | Item | ShareThis
Mexus Gold Contracts Tug, Barge, and Operator to Advance Cable Project - More
- August 31, 2010 | Item | ShareThis
TASMAN SIGNS RESOURCE ESTIMATION CONTRACT FOR THE NORRA KARR RARE EARTH ELEMENT PROJECT, SWEDEN - More
- August 31, 2010 | Item | ShareThis
Erin Granted License for Serbian Boron Property - More
- August 31, 2010 | Item | ShareThis
Airborne Results Reveal Major Gold Zone Signature and New Drill Targets on Sian/Praso, Ghana - More
- August 31, 2010 | Item | ShareThis
Rare Earth Metals Reports More Encouraging Assay Results from Its Letitia Lake/Red Wine Property in Labrador and the Optioning of Additional Claims in the Area - More
- August 31, 2010 | Item | ShareThis
ICN Acquires Nevada Property, Located South of the Sleeper Mine - More
- August 31, 2010 | Item | ShareThis
Sparton Reports Second Quarter Financial Results - More
- August 31, 2010 | Item | ShareThis
Ruby Creek Resources Will Present at the Rodman & Renshaw Annual Global Investment Conference on September 15, 2010 - More
- August 31, 2010 | Item | ShareThis
Mercator Secures Power to Complete Phase II Expansion at Mineral Park - More
- August 31, 2010 | Item | ShareThis
Energizer Resources Releases Assay Results, Drills 1.17% V2O5 Over 84 Metres on Green Giant Vanadium Project, Madagascar - More
- August 31, 2010 | Item | ShareThis
Valdez Gold Finalizes Agreement to Sell its Los Jarros and Jarros Norte Properties in Chihuahua, Mexico to Gammon Gold - More
- August 31, 2010 | Item | ShareThis
New Pacific Metals Corp.: YS Mining Application Dismissed by B.C. Securities Commission - More
- August 31, 2010 | Item | ShareThis
Advanced Explorations Inc. to Conclude Deal With China's XinXing Pipes Group - More
- August 31, 2010 | Item | ShareThis
Rainy River Infill Drilling Returns 407.9 g/t Gold (11.9 oz/ton) Over 4.5 Metres in ODM Zone - More
- August 31, 2010 | Item | ShareThis
Colt Resources Inc. Joins OTCQX - More
- August 31, 2010 | Item | ShareThis
Lydian Intersects 95m at 1.7g/t Gold at Erato, 900m North of the Resource Envelope & 92m at 1.2g/t in Resource Upgrade Drilling at Amulsar; Armenia - More
- August 31, 2010 | Item | ShareThis
Mineral Mountain Resources Signs Definitive Agreement to Option a 60% Interest in the Main Block Gold Property in the Shining Tree Mining Camp - More
- August 31, 2010 | Item | ShareThis
Timmins Gold Corp.: Operating and Financial Results for the Three Months Ended June 30, 2010 - More
- August 31, 2010 | Item | ShareThis
Orosur Mining Inc Announces appointment of Chief Operating Officer - More
- August 31, 2010 | Item | ShareThis
Gammon Gold Signs Definitive Agreement on the Los Jarros Properties, Chihuahua Mexico - "I am very pleased that we have completed the definitive option agreements on the Los Jarros concessions with Valdez Gold Inc. ("Valdez"). The addition of this project to Gammon's existing land package gives the Company a commanding position in the greater Ocampo / Pinos Altos / Concheno district. These holdings allow Gammon to extend exploration from the Ocampo and Venus projects to prospective ground between these two properties and our existing land package, as well as new ground in this large district." stated Peter Drobeck, Senior Vice President of Exploration & Business Development. He continued "Valdez completed substantial exploration on these properties in the 1990's, resulting in the definition of a disseminated epithermal gold occurrence in the southern part of the property. This target area, the actual 'Los Jarros' occurrence, consists of a central rhyolite dome with surrounding silicified breccias." More
- August 31, 2010 | Item | ShareThis
Richmont Mines Obtains Favourable Preliminary Drilling Results on its Wasamac Property; Drilling Program Expanded to 15,000 Metres - "Richmont resumed drilling on this property in May 2010, with the goal of reassessing existing resources with a lower cut-off grade approach and verifying mineralisation continuity. Drilling to date has identified several promising intercepts (detailed in the table below) that corroborate this plan, namely 3.59 g/t Au over 12.5 metres in hole WS-10-27, 6.46 g/t Au over 9.33 metres in hole WS-10-30, 4.62 g/t Au over 10.56 metres in hole WS-10-33, and 3.44 g/t Au over 8.38 metres in hole WS-10-34." More
- August 31, 2010 | Item | ShareThis
ECU Silver Discovers New Vein on the Chicago Property - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to report on the first of two newly discovered veins on the Chicago Property. As reported in the press release dated August 25, 2010, ECU identified two new veins plus a high grade extension of the known Gambusinos Vein, all within the Chicago Property. Recently, a drift was opened along the first of the newly discovered veins, named the Escondida Vein, over a total length of 195 metres (640 feet). The Company has received assays for the first 165 metres (540 feet) which graded an average of 7.21 grams per tonne (g/t) gold (Au), 346 g/t silver (Ag), 6.55% lead and 7.45% zinc over an average width of 0.33 metres (1 foot). Assays were based on 50 cuts separated by approximately 3 metres (10 feet) each, with the best cut grading 39.73 g/t Au, 618 g/t Ag, 7.25% lead and 6.39% zinc over an average width of 0.30 metres (1 foot)." More
- August 31, 2010 | Item | ShareThis
Gold Resource Corporation Declares Second Special Cash Dividend - "Gold Resource Corporation (GRC) (AMEX:GORO - News) is pleased to announce it has declared its second 2010 Special Cash Dividend of $0.03 per common share to its shareholders of record September 17th, payable September 29th, 2010. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico." More
- August 31, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Tuesday, 31 August 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Almost 1% and 2%
