-- Posted Wednesday, 1 September 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1245.70 | -$1.90 |
Silver | $19.36 | -$0.01 |
XAU | 184.26 | -0.48% |
HUI | 481.46 | -1.32% |
GDM | 1457.63 | -1.35% |
JSE Gold | 2443.48 | -57.41 |
USD | 82.49 | -0.63 |
Euro | 128.03 | +1.17 |
Yen | 118.48 | -0.32 |
Oil | $73.91 | +$1.99 |
10-Year | 2.582% | +0.105 |
T-Bond | 134.59375 | -1.84375 |
Dow | 10269.47 | +2.54% |
Nasdaq | 2176.84 | +2.97% |
S&P | 1080.29 | +2.95% |
The Metals:
Gold climbed to a new 2 month high at $1254.74 a little after 8:30AM EST before it dropped back down to as low as $1242.15 by late morning in New York, but it then bounced back higher into the close and ended with a loss of just 0.15%. Silver climbed to as high as $19.48 and fell to as low as $19.22 before it also bounced back higher and ended with a loss of just 0.05%.
Euro gold fell to €973, platinum gained $10.50 to $1527, and copper climbed nearly 11 cents to about $3.47.
Gold and silver equities fell roughly 1% by late morning and remained at about that level for the rest of the day.
GoldSeek.com Celebrates 15 Year Anniversary PRWeb
IMF's Gold Assets Fall 16.85 Tons in July as Russia Adds to its Holdings Bloomberg
The Economy:
Report | For | Reading | Expected | Previous |
ADP Employment | Aug | -10K | 13K | 37K |
Construction Spending | July | -1.0% | -0.7% | -0.8% |
ISM Index | Aug | 56.3 | 52.9 | 55.5 |
Fuld says government denied Lehman while helping Wall St Yahoo
Regulators see Dodd-Frank help on systemic risk Reuters
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 8/28 expected at 475,000, second quarter Productivity expected at -1.7%, and Unit Labor Costs expected at 1.1%. At 10AM are Pending Home Sales for July expected at 0.0% and Factory Orders for July expected at 0.3%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on strong economic data from China and the US. The EIA reported that crude inventories rose 3.4 million barrels, gasoline inventories fell 200,000 barrels, and distillates fell 700,000 barrels.
The U.S. dollar index and treasuries fell rather markedly after a much better than expected ISM Index reading in the US and a rising PMI in China raised optimism about the health of the global economy and sent the Dow, Nasdaq, and S&P over 2% higher.
Among the big names making news in the market today were Borders, GM, Apple, Amazon, Heinz, Burger King, JPMorgan, and ING.
GATA Posts:
IMF sells 16.85 tons, Russia buys 16.2 tons in July
Morgan Chase said to end proprietary trading in commodities
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 | 1302.508 | 41,876,939 | US$52,179m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 126.84 | 4,078,064 | US$5,081m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 127.04 | 4,084,596 | US$5,089m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,599 | US$569m |
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$6m |
Note: Change in Total Tonnes from yesterday’s data: SODR added 3.952 tonnes, the LSE subtracted 0.23 tonnes, and the LSE ETFS added 0.64 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 95.01 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9227.13: +30.44 change from yesterday’s data.
The Miners:
NovaGold’s (NG) board appointment, Kinross Gold’s (KGC) recommended combination with Red Back, Endeavour’s (EXK) new silver veins and properties, Revett’s (RVM.TO) additional subscription with Silver Wheaton (SLW), and Excellon’s (EXN.TO) resumed production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Minco Gold | MGH +5.88% $1.08 |
2. Freeport | FCX+5.83% $76.19 |
3. Ivanhoe | IVN+5.59% $18.71 |
LOSERS
1. Almaden | AAU -3.60% $2.14 |
2. Seabridge | SA -3.13% $29.10 |
3. Barrick | ABX-3.06% $45.33 |
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:
Messina Minerals Inc. Announces Private Placement - More
- September 01, 2010 | Item | ShareThis
Mountain Lake Resources Terminates Acquisition of New Island Resources - More
- September 01, 2010 | Item | ShareThis
Pure Nickel Response to Litigation filed by Bankrupt Western Utah Copper Company - More
- September 01, 2010 | Item | ShareThis
Big S.Africa state workers' union rejects pay offer - "One of South Africa's largest state workers' unions said on Wednesday it had rejected a new pay offer from the government aimed at ending a three-week strike by about 1.3 million workers in Africa's largest economy." More
- September 01, 2010 | Item | ShareThis
Laurion Confirms and Extends High Grade Gold Mineralization at Marge Vein, Sturgeon River - More
- September 01, 2010 | Item | ShareThis
Ascot Resources Commences Diamond Drilling on the Mt. Margaret Property - More
- September 01, 2010 | Item | ShareThis
Key Gold Announces the Acquisition of the Musset Lake Copper Property Containing a Near Surface Historic Mineral Resource of 110 Million Tonnes Grading 0.23% Cu - More
- September 01, 2010 | Item | ShareThis
Colombian Mines Updates Progress at Yarumalito, Rio Negro and Venecia Projects - More
- September 01, 2010 | Item | ShareThis
Darnley Bay Resources Begins Drilling Its Base Metals Targets - More
- September 01, 2010 | Item | ShareThis
Santa Fe Gold Supplies Additional Siliceous Flux to Arizona Smelter for Precious Metals Recovery - More
- September 01, 2010 | Item | ShareThis
Southern Silver Wins Auction for State Land Leases at Oro and Renews Exploration Program - More
- September 01, 2010 | Item | ShareThis
Amarillo Receives Initial Resource Estimate for the Butia Prospect - More
- September 01, 2010 | Item | ShareThis
Prospero Drills 3.12 Meters of 13 g/t Au, 24.5 g/t Ag at the Baborigame Project, Chihuahua - More
- September 01, 2010 | Item | ShareThis
Uranium Resources, Inc. to Present at the Rodman & Renshaw Annual Global Investment Conference - More
- September 01, 2010 | Item | ShareThis
Riverstone Increases Strike Length of the Goulagou I Deposit to 1.5 Kilometres - More
- September 01, 2010 | Item | ShareThis
Kinross says Glass Lewis advises for Red Back deal - "Kinross Gold (K.TO) said on Wednesday that risk advisory firm Glass Lewis & Co has advised Kinross's shareholders to vote for a plan to buy Red Back Mining (RBI.TO) for around $7 billion.
The Toronto-based gold miner will issue stock and warrants to pay for the deal, under which Kinross will pay around C$30.50 for each Red Back share." More
- September 01, 2010 | Item | ShareThis
Golden Predator Doubles Yukon Holdings - More
- September 01, 2010 | Item | ShareThis
Affinity Gold Corp. Announces Engagement of Hansen, Barnett & Maxwell, P.C. as New Independent Public Accounting Firm - More
- September 01, 2010 | Item | ShareThis
Canasil Closes $150,000 Private Placement by MAG Silver Corp. - More
- September 01, 2010 | Item | ShareThis
Merc International Minerals Inc.: New Board Member-Private Placement Financing - More
- September 01, 2010 | Item | ShareThis
B2 Digital - Castle Creek Comments on the Global Precious Metals, Base Metals, and Industrial Mineral Areas - More
- September 01, 2010 | Item | ShareThis
Acrex Ventures Ltd. Engages Barry Kaplan Associates to Enhance Financial Market Relations in United States - More
- September 01, 2010 | Item | ShareThis
Novus Gold Corp.: Airborne Survey Completed Over REN Gold Property - More
- September 01, 2010 | Item | ShareThis
Eagle Hill Engages Robert Bryce as an Advisor for Windfall Lake - More
- September 01, 2010 | Item | ShareThis
Tirex Engages SRK Consulting to Produce Mineral Resource Estimates at Mirdita - More
- September 01, 2010 | Item | ShareThis
Glass Lewis Recommends Kinross Shareholders Vote "FOR" Red Back Combination - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) today announced that Glass, Lewis & Co. LLC ("Glass Lewis") has provided a positive recommendation regarding its proposed friendly combination with Red Back Mining Inc. Glass Lewis has recommended that Kinross shareholders vote "FOR" the issuance of Kinross shares and warrants in connection with the acquisition." More
- September 01, 2010 | Item | ShareThis
Fire River Gold Selects Snowden to Prepare Preliminary Economic Assessment for the Nixon Fork Gold Mine Project, Alaska - More
- September 01, 2010 | Item | ShareThis
Concerned Shareholders of EurOmax Resources Ltd. Respond to Decreasing Cash Reserves - More
- September 01, 2010 | Item | ShareThis
Solitaire Minerals to Receive Cash and Shares From AM Gold Inc. to Pay Outstanding Debt on the Pinaya Property, Peru - More
- September 01, 2010 | Item | ShareThis
Terra Ventures Inc.: Hathor Extends Roughrider East 60 m to the East as Summer Drill Program Progresses - More
- September 01, 2010 | Item | ShareThis
Teryl Resources Acquires an Option on Mineral Claims in Alaska - More
- September 01, 2010 | Item | ShareThis
Yankee Hat Engages Investor Cubed Inc. to Provide Investor Relations Services - More
- September 01, 2010 | Item | ShareThis
Centamin Egypt Annual Report and Annual Information Form Available on Website - More
- September 01, 2010 | Item | ShareThis
Merrex Transitions Siribaya Operatorship to IAMGOLD - More
- September 01, 2010 | Item | ShareThis
ANACONDA MINING ANNOUNCES FISCAL 2010 FINANCIAL RESULTS - More
- September 01, 2010 | Item | ShareThis
Virginia Mines Inc.: Signing of a Strategic Alliance With Wemindji Exploration - More
- September 01, 2010 | Item | ShareThis
Thunder Mountain Gold, Inc. Reports Positive Sampling Results at Its South Mountain Project - More
- September 01, 2010 | Item | ShareThis
ATAC Resources Ltd. Makes a New Carlin-Type Discovery at Its Rau Gold Project in Yukon - More
- September 01, 2010 | Item | ShareThis
Hudson River Intersects Gold, Copper and Zinc Mineralization near McFaulds Lake - More
- September 01, 2010 | Item | ShareThis
Uranium Recoveries in Excess of 99% Using Ion Exchange (IX) Technology Upon Uranium-Loaded Acid Solutions From the Leaching of the Macusani Uranium Ores - More
- September 01, 2010 | Item | ShareThis
GWR Resources Discovers New Magnetite-Copper-Gold-Silver Skarn Mineralization - More
- September 01, 2010 | Item | ShareThis
Silver Quest Increases Boulevard Property, Yukon - More
- September 01, 2010 | Item | ShareThis
Hathor Extends Roughrider East 60 m to the East as Summer Drill Program Progresses - More
- September 01, 2010 | Item | ShareThis
Michael Winship Appointed as Chief Operating Officer for Quadra FNX Mining Ltd. - More
- September 01, 2010 | Item | ShareThis
Silver Dragon Reports Further Exploration Progress at Its Laopandao Polymetallic Project in Northern China - More
- September 01, 2010 | Item | ShareThis
Kiska Secures 100% Control of Whistler Project - More
- September 01, 2010 | Item | ShareThis
Kria Resources' Metallurgical Test Results Indicate Halfmile Lake Project Ore Is Compatible With Xstrata Zinc's Brunswick 12 Milling Facility - More
- September 01, 2010 | Item | ShareThis
B2Gold Corp. Joins OTCQX - More
- September 01, 2010 | Item | ShareThis
Harvest Gold's Phase One Drill Results Complete; Gold and Silver Intersected in Each Hole at Rosebud Mine - More
- September 01, 2010 | Item | ShareThis
NovaGold Appoints Gerry McConnell as Chairman of the Board - "NovaGold Resources Inc. (TSX:NG - News)(AMEX:NG - News) today announced that Gerry McConnell has been appointed Chairman of the company's Board of Directors. Rick Van Nieuwenhuyse continues as President and Chief Executive Officer of the company and will remain on the Board as a Director." More
- September 01, 2010 | Item | ShareThis
CanAlaska Uranium Appoints Investor Relations Firm - More
- September 01, 2010 | Item | ShareThis
Medusa Mining Limited: Proposed Dividend and Amendments to Constitution - More
- September 01, 2010 | Item | ShareThis
RockBridge Awards Drilling Contract for Rare Earth Property - More
- September 01, 2010 | Item | ShareThis
Orosur Mining Inc Announces Maiden NI 43-101 Mineral Resource of 1.05 Moz Gold at Pantanillo Norte - More
- September 01, 2010 | Item | ShareThis
Endeavour Silver Identifies Three New Silver Veins, Acquires Three New Mining Properties in Guanacevi Silver District, Durango State, Mexico - "The newly identified, north-northeast trending La Blanca and Mi Nina veins are located in the south-western part of the San Pedro area about 2 kilometres northwest of the Porvenir Cuatro mine that Endeavour is now developing at Guanacevi. These veins appear are parallel to and 1 kilometre south of the old El Soto, Desengano and Epsilon mines which produced high grade silver-gold ores historically." More
- September 01, 2010 | Item | ShareThis
Revett Announces Additional Silver Wheaton Corp. Subscription - "This transaction is in connection with a non-brokered private placement that Revett Minerals closed on August 24, 2010 for 12,094,368 units. The Silver Wheaton subscription is for 2,448,358 units and carries the same terms as the August 24, 2010 private placement at a price of CDN$0.28 per unit. Each unit consisted of one common share and one half of a common share purchase warrant, each whole warrant entitling the holder to acquire an additional common share at a price of CDN$0.35 per share for a 36 month period. This pricing is in accordance with the participation rights agreement between Revett and Silver Wheaton." More
- September 01, 2010 | Item | ShareThis
Excellon Resumes Production at Platosa - "Excellon Resources Inc. (TSX:EXN - News) is pleased to announce that it has resumed limited production at Platosa after the water inflow that occurred during normal mine development on August 18th. Excellon is currently assessing the impact of the water inflow on production going forward and will release revised guidance on production levels for the balance of the year in the coming weeks." More
- September 01, 2010 | Item | ShareThis
Conway Resources Announces Debt Settlement and Amends Terms of Convertible Debenture - More
- September 01, 2010 | Item | ShareThis
Antimony Prices Soar; Silverado Drill Core Examination Shows Mineralized Widths Over 60 Feet - More
- September 01, 2010 | Item | ShareThis
Anaconda Increases Holdings in New Island to Nearly 50% as Offer Expires; Anaconda and New Island Continue to Pursue Friendly Transaction - More
- September 01, 2010 | Item | ShareThis
GOLDEN DAWN MINERALS INC. - FINAL APPROVAL OF FIRST TRANCHE OF PRIVATE PLACEMENT - More
- September 01, 2010 | Item | ShareThis
YS Mining Announces an All-Cash Offer for Tagish Lake Gold Corp. at $0.12 per Share - More
- September 01, 2010 | Item | ShareThis
Canaco Closes in Escrow on Copper-Gold Exploration Assets in Ethiopia and Announces Potential Spin-Off - More
- September 01, 2010 | Item | ShareThis
Sandstorm Resources Provides Update on Gold Purchase Agreement With Rambler Metals and Mining PLC - More
- September 01, 2010 | Item | ShareThis
Uranium One Shareholders Approve ARMZ Transaction - More
- September 01, 2010 | Item | ShareThis
Northgate Minerals Discovers Fault Offset of the Magdala and Golden Gift Orebodies at its Stawell Gold Mine - "Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) is pleased to report that diamond drilling at its Stawell Gold Mine has intersected a new zone of gold mineralization (the "Northgate Gift"). The Northgate Gift is the fault offset extension of the Magdala/Golden Gift orebodies, which have combined to produce over two million ounces of gold on the property over the past 26 years." More
- September 01, 2010 | Item | ShareThis
Creso Exploration Amends the Matona Gold Option Agreement - More
- September 01, 2010 | Item | ShareThis
Golden Band Resources Issuing Stock Options - More
- September 01, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Wednesday, 1 September 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Slightly While Stocks Gain Over 2%
