-- Posted Tuesday, 8 March 2011 | | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1427.10 | -$6.90 |
Silver | $35.77 | -$0.13 |
XAU | 212.12 | -0.87% |
HUI | 562.89 | -0.97% |
GDM | 1651.08 | -0.90% |
JSE Gold | 2682.41 | -21.48 |
USD | 76.79 | +0.32 |
Euro | 139.02 | -0.72 |
Yen | 120.98 | -0.56 |
Oil | $105.02 | -$0.42 |
10-Year | 3.544% | +0.047 |
T-Bond | 120.09375 | -0.6875 |
Dow | 12214.38 | +1.03% |
Nasdaq | 2765.77 | +0.73% |
S&P | 1321.82 | +0.89% |
The Metals:
Gold fell $8.22 to $1425.78 in Asia and rose $2.74 to $1436.74 in London before it fell back to $1423.00 by midmorning New York and then bounced back higher in late trade, but it still ended with a loss of 0.48%. Silver fell $0.41 to $35.49 in Asia before it rebounded to $36.515 in London, but it then fell back off in New York and ended with a loss of 0.36%.
Euro gold fell to about €1026, platinum lost $18.50 to $1796.75, and copper rose slightly to about $4.33.
Gold and silver equities fell over 2% in the first half hour of trade, but they then rallied back higher for most of the rest of the day and ended with less than 1% losses.
The Economy:
There were no major economic reports today. Tomorrow at 10AM is the Wholesale Inventories report for January expected at 1.0%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell slightly as the U.S. dollar index rose on renewed debt worries in Europe that sent the euro lower.
Treasuries remained lower after today’s $32 billion 3-year note auction drew a high yield of 1.298% with a bid to cover of 3.22.
The Dow, Nasdaq, and S&P rose about 1% on relief over falling oil prices.
Among the big names making news in the market today were Boeing, Apple, and McDonald’s.
GATA Posts:
Sprott says silver will keep outshining gold
Jeff Nielson: Monetizing silver -- instant prosperity
The Statistics:
Activity from: 3/07/2011
Gold Warehouse Stocks: | 11,141,259 | +23,700 |
Silver Warehouse Stocks: | 102,255,604 | -888,619 |
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 | 1217.295 | 39,137,259 | US$55,813m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 116.51 | 3,746,032 | US$5,340m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 122.56 | 3,940,260 | US$5,625m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,633 | US$653m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 48.65 | 1,564,059 | US$2,248m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,960 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.674 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 119.42 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,898.14: +103.25 change from yesterday’s data.
The Miners:
IAMGOLD’s (IAG) MOU with China Gold, Goldcorp’s (GG) letter of intent with Yamana Gold (AUY), US Gold’s (UXG) drill results, IAMGOLD’s (IAG) award, Northgate’s (NXG) fourth quarter results, and Endeavour’s (EXK) expanded resources were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Yamana | AUY +3.26% $12.99 |
2. Golden Star | GSS +3.17% $2.93 |
3. Tanzanian Royalty | TRE +3.15% $6.55 |
LOSERS
1. Midway | MDW-5.86% $2.25 |
2. Minco | MGH -5.19% $2.19 |
3. Rubicon | RBY -4.72% $4.85 |
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:
Gold Wheaton and Franco-Nevada Announce Shareholder Approval of Arrangement - More
- March 08, 2011 | Item | ShareThis
Apella Wins Landmark Lac Dore Decision; Lac Dore Vanadium-Iron-Titanium Deposit - More
- March 08, 2011 | Item | ShareThis
THEMAC Closes Copper Flat Acquisition and $10.2 Million Financing; Issues Shares and Warrants on Exercise of Subscription Receipts - More
- March 08, 2011 | Item | ShareThis
Adroit Resources Inc.: Antimony Project Update as Antimony Price Hits New Highs - More
- March 08, 2011 | Item | ShareThis
Balaton Announces Preliminary Exploration Findings and Signing of Option Agreement on Voisey's Bay West Property, Labrador - More
- March 08, 2011 | Item | ShareThis
Eagle Plains and MMG Announce Letter of Intent on the Findlay Property - More
- March 08, 2011 | Item | ShareThis
Golden Share Acquires Conacher Property East of Pistol Lake in Shebandowan Belt, Ontario, Canada - More
- March 08, 2011 | Item | ShareThis
Eagle Hill Continues to Intersect High Grade Gold Including 13.32 g/t Gold Over 19.00 Meters at the Windfall Lake Property - More
- March 08, 2011 | Item | ShareThis
Matamec Yields Overall Recoveries of Rare Earths of About 81% from Eudialyte Zone of the Kipawa Deposit - More
- March 08, 2011 | Item | ShareThis
Sienna Gold Inc. Starts Trading on the Lima Stock Exchange - More
- March 08, 2011 | Item | ShareThis
Arianne Resources Inc.: Manouane Zone Drilling Campaign Begins (Lac a Paul Project) - More
- March 08, 2011 | Item | ShareThis
IAMGOLD Signs Memorandum of Understanding With China Gold - "This agreement marks the beginning of what we believe will be a win-win relationship with China Gold. The two companies have formally acknowledged each other's exploration, development and mining expertise as well as each other's commitment to responsible and efficient exploration and extraction practices that are consistent with the laws and objectives of their host governments. Our intention is to identify projects of mutual interest where we would have an equitable sharing of the risks and rewards inherent in the business of resource development and mineral extraction." More
- March 08, 2011 | Item | ShareThis
Petaquilla Minerals Ltd.: Molejon Gold Project-NI 43-101 Reserve Update; 61% Increase in Reserves - More
- March 08, 2011 | Item | ShareThis
EMC Appoints John Thompson to Lead Development of Nyngan Scandium Project, Australia - More
- March 08, 2011 | Item | ShareThis
Mercator Announces 2011 Production Guidance, Phase II Update - More
- March 08, 2011 | Item | ShareThis
Zacks Investment Research Initiates Mexivada Mining Corp. Coverage With an Outperform Recommendation - More
- March 08, 2011 | Item | ShareThis
American Bonanza Advancing Work on Gold Recovery Plant - More
- March 08, 2011 | Item | ShareThis
Cadan Resources Corporation: North Vein A Intersected in Decline Advance - More
- March 08, 2011 | Item | ShareThis
Focus and SOQUEM Confirm Historical REE-Cu-Fe Grades at Kwyjibo With 30m of 2.52% TREO, 0.15% Cu, 3.70 P2O5 and 49.9% Fe2O3 at the Josette Prospect - More
- March 08, 2011 | Item | ShareThis
Dianor to Issue 3,533,380 Shares in Connection With a Cdn$176,669 Draw Down Under Equity Line of Credit - More
- March 08, 2011 | Item | ShareThis
Shamika2Gold, Inc. Acquires Gold and Ruby Licenses in Cambodia - More
- March 08, 2011 | Item | ShareThis
Bridgeport Ventures Inc. Announces Commencement of Exploration Activities in Nevada - More
- March 08, 2011 | Item | ShareThis
International Millennium Reports Sampling Results from Bailey Zone on Hilda Property Sonora Mexico - More
- March 08, 2011 | Item | ShareThis
Typhoon Exploration Inc. Welcomes Jean-Pierre Thomassin in its Management Team - More
- March 08, 2011 | Item | ShareThis
Argentum Grants Stock Options - More
- March 08, 2011 | Item | ShareThis
Magellan Announces Initial Resource Estimate at Cuiu Cuiu Project, Brazil - More
- March 08, 2011 | Item | ShareThis
Ashburton Begins 2011 Work Program at Deep Creek, Nevada - More
- March 08, 2011 | Item | ShareThis
Teryl Resources Receives a NI 43-101 Compliant Gil Resources Pre-Feasibilty Resource Estimation Report - More
- March 08, 2011 | Item | ShareThis
Astral Signs Option on Barriere Ridge Silver-Gold Project, Southern British Columbia - More
- March 08, 2011 | Item | ShareThis
AmeriLithium Confirms Drilling Program Start Date of March 15, 2011 on Nevada-Based Paymaster Project - More
- March 08, 2011 | Item | ShareThis
Century Provides Operational and Financial Update for Lamaque Mine - More
- March 08, 2011 | Item | ShareThis
Orvana Minerals Corp.: Concentrate Contract Signed for El Valle-Boinas/Carles Mine in Northern Spain - More
- March 08, 2011 | Item | ShareThis
Kaminak Reports 97% Gold Recoveries From Initial Metallurgical Testing of Oxide Mineralization, Coffee Project, Yukon - More
- March 08, 2011 | Item | ShareThis
Mega Provides Update on Canadian Exploration - More
- March 08, 2011 | Item | ShareThis
Indigo Intersects 4.53 gpt Au Over 5 Metres at Moule - More
- March 08, 2011 | Item | ShareThis
Forum and Mega Option the Maurice Bay Uranium Deposit From Cameco - More
- March 08, 2011 | Item | ShareThis
Pershimco Not to Be Affected by Repeal of Amendments - More
- March 08, 2011 | Item | ShareThis
Leprechaun Gold Deposit Continues to Grow with Latest Results Intersecting 3.15 g/t Au over 21.5m (true width) in New Zone - More
- March 08, 2011 | Item | ShareThis
George Lim Joins the Board of Artha - More
- March 08, 2011 | Item | ShareThis
Minera Alumbrera Shareholders Enter Agreement for a Four-Year Option in the Agua Rica Copper Gold Project in Argentina - "GOLDCORP INC. (TSX:G.to - News) announced today that the Company and Xstrata Queensland Limited ("Xstrata") have signed a letter of intent with Yamana Gold Inc. (Yamana) whereby Minera Alumbrera Limited Sucursal (MAA) would have the exclusive option with respect to acquiring Yamana's 100% interest in the Agua Rica project located 35 kilometres southeast of the Alumbrera mine in the Catamarca province in northwest Argentina." More
- March 08, 2011 | Item | ShareThis
Yamana Advances Agua Rica Strategy Through Agreement With Xstrata and Goldcorp - Targeting Integration Into Alumbrera - "YAMANA GOLD INC. (TSX:YRI.to - News) (NYSE:AUY - News) (LSE:YAU.l - News) ("Yamana" or "The Company") today announced an arrangement, subject to formal documentation, with Xstrata Queensland Limited ("Xstrata") and Goldcorp Inc. ("Goldcorp") that would facilitate the ultimate integration of Agua Rica into Minera Alumbrera ("Alumbrera"). Agua Rica is a 100% Yamana owned, development stage project in the province of Catamarca, Argentina and is located approximately 35 kilometres from the currently operating Alumbrera mine. Subject to Xstrata and Goldcorp exercising their option to have Alumbrera acquire Agua Rica, and following the integration of the projects, Xstrata, Goldcorp and Yamana would own interests in the combined project of 50%, 37.5% and 12.5% respectively, consistent with their current interests in Alumbrera." More
- March 08, 2011 | Item | ShareThis
US Gold: El Gallo Extended in Multiple Directions - "US GOLD CORPORATION (NYSE:UXG - News)(TSX:UXG - News) is pleased to announce continued exploration success at and surrounding the company's El Gallo project in Sinaloa State, Mexico (Fig. 1). Drilling continues to expand the size of the silver-gold resources and further delineate the mineralization associated with the recently discovered veins. In addition, exploration has intersected near surface, bulk tonnage mineralization in a new area." More
- March 08, 2011 | Item | ShareThis
IAMGOLD Receives PDAC's 2011 Environmental and Social Responsibility Award - "This award recognizes accomplishment in environmental protection and in developing good community relations in the mining sector. According to PDAC, IAMGOLD is being recognized and honoured for its commitment to excellence in environmental stewardship, community engagement, and health and safety in its exploration projects and operating mines in Africa, South America and Quebec. The Company is particularly commended for having been placed as the top extractive company and third overall in the Globe and Mail's ranking of Canada's largest companies by environmental and social and governance performance." More
- March 08, 2011 | Item | ShareThis
Endeavour Silver Expands Its Silver/Gold Resources for 7th Consecutive Year - "We are gratified to see our combined reserves and resources rise once again to a record high last year, notwithstanding our 6th consecutive year of production growth. The numbers speak to the ability and success of our exploration team at discovering new, high grade silver-gold deposits year after year within these historic Mexican silver districts." More
- March 08, 2011 | Item | ShareThis
Northgate Minerals Reports Excellent Cash Flow from Operations of $56.5 Million in the Fourth Quarter of 2010 - "Northgate Minerals Corporation ("Northgate" or the "Corporation") (TSX:NGX.to - News) (NYSE Amex: NXG) today announced its financial and operating results for the fourth quarter and year ended December 31, 2010. The Company reported adjusted net earnings of $17.2 million or $0.06 per diluted share and cash flow from operations of $56.5 million or $0.19 per diluted share for the fourth quarter of 2010." More
- March 08, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Tuesday, 8 March 2011 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Slightly
