-- Posted Thursday, 1 September 2011 | | Disqus
| Close | Gain/Loss |
Gold | $1827.40 | -$2.00 |
Silver | $41.57 | -$0.09 |
XAU | 219.32 | +0.61% |
HUI | 603.63 | +0.89% |
GDM | 1756.32 | +0.95% |
JSE Gold | 2664.14 | -16.76 |
USD | 74.48 | +0.31 |
Euro | 142.71 | -1.08 |
Yen | 130.7 | -0.34 |
Oil | $88.93 | +$0.12 |
10-Year | 2.146% | -0.072 |
T-Bond | 138.6875 | +1.375 |
Dow | 11493.57 | -1.03% |
Nasdaq | 2546.04 | -1.30% |
S&P | 1204.42 | -1.19% |
The Metals:
Gold traded mostly slightly lower in Asia and London before it rose to see a modest gain at $1830.39 by about 8:30AM EST and then fell to a new session low of $1813.70 in the next couple of hours of trade, but it then rallied back higher in late trade and ended with a loss of just 0.11%. Silver fell to $41.23 in midmorning New York trade before it also rallied back higher and ended with a loss of just 0.22%.
Euro gold rose to about €1280, platinum lost $1.50 $1847.00, and copper fell 4 cents to about $4.14.
Gold and silver equities rose about 1% by midafternoon and remained near that level for the rest of the day.
Colombia Increases Gold Holdings as Kazakhstan, Mexico Cut Bloomberg
Mexico Surpasses Peru as World's Largest Producer of Silver - Bloomberg
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 8/27 | 409K | 407K | 421K |
Productivity | Q2 | -0.7% | -0.5% | -0.3% |
Unit Labor Costs | Q2 | 3.3% | 2.4% | 2.2% |
ISM Index | Aug | 50.6 | 48.5 | 50.9 |
Construction Spending | July | -1.3% | 0.0% | 1.6% |
Tomorrow at 8:30AM EST brings August’s jobs data. Nonfarm Payrolls are expected at 73,000, the Unemployment Rate is expected at 9.1%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.3.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly higher as traders watched the development of another storm in the Gulf of Mexico.
The U.S. dollar index rose as the euro fell on weak manufacturing data out of Germany and Europe in general.
Treasuries rose as the Dow, Nasdaq, and S&P ultimately fell on worries about debt and the global economy.
Among the big names making news in the market today were GM, Goldman Sachs, BNY Mellon, AT&T, and Apple.
The Commentary:
Sign up for this upcoming webcast: A Case for Investing in Gold - 4:15 PM EST on September 6, 2011:
Gold has timeless appeal for its natural luster; as an investment, it’s unique.
To learn more about what’s driving gold, we invite you to a special Web event hosted by U.S. Global Investors CEO and Chief Investment Officer Frank Holmes and special guest Jason Toussaint, managing director of the U.S. and Investment for the World Gold Council.
In this presentation, you will learn:
• Economic factors affecting gold and gold equities
• Historical and seasonal patterns affecting gold
• How culture and emotions shape the gold investing landscape
• Current trends in jewelry, industrial and investment demand
• How gold and gold equities can be an integral part of your portfolio
Don’t miss this opportunity to learn from the experts!
GATA Posts:
Swiss franc jumps as economy minister dismisses intervention
How exchange-traded fund GLD lets you pretend to own gold
Emerging market central banks boost gold holdings in July
The Statistics:
Activity from: 8/30/2011
Gold Warehouse Stocks: | 11,576,318 | -8,098 |
Silver Warehouse Stocks: | 105,475,628 | +584,214 |
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 | 1232.314 | 39,620,114 | US$72,121m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 115.35 | 3,708,632 | US$6,778m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 126.23 | 4,058,350 | US$7,417m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,687 | US$834m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 45.65 | 1,467,599 | US$2,673m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,950 | US$9m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 167.23: -0.29 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,746.80: No change from yesterday’s data.
The Miners:
Comstock’s (LODE) hired mine planners, Timberline’s (TLR) drill results, Vista Gold’s (VGZ) sampling results, Goldcorp’s (GG) Agreement on Agua Rica with Xstrata (XTR.F) and Yamana (AUY), MAG Silver’s (MVG) drill results, and Minco Silver’s (MSV.TO) water monitoring study were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Golden Minerals | AUMN+4.00% $13.78 |
2. Minefinders | MFN +3.76% $16.83 |
3. Goldcorp | GG +2.75% $53.35 |
LOSERS
1. Solitario | XPL -6.01% $2.19 |
2. Ivanhoe | IVN -4.22% $22.00 |
3. Northern Dynasty | NAK -3.62% $10.11 |
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:
HudBay Minerals to Present at the Bank of America Merrill Lynch 17th Annual Canada Mining Conference - More
- September 01, 2011 | Item | ShareThis
CHOP Exploration Inc. Terminates Initial Public Offering - More
- September 01, 2011 | Item | ShareThis
Gaston Gagnon, P.Eng Joins Apella's Advisory Board - More
- September 01, 2011 | Item | ShareThis
Inmet Mining Announces Cobre Las Cruces Production for August - More
- September 01, 2011 | Item | ShareThis
Legend Gold Corp. Acquires Key Gold Property in Republic of Mali, West Africa - More
- September 01, 2011 | Item | ShareThis
Golden Phoenix to Speak at Rodman & Renshaw Global Investment Conference; V.P. Dick Cheney, V.P. Al Gore and Dr. Henry Kissinger Will Keynote - More
- September 01, 2011 | Item | ShareThis
Pancon/Crossland on Schedule to Report Initial Rare Earth Resource for Charley Creek During September - More
- September 01, 2011 | Item | ShareThis
Eurasian Minerals Drills Sarikaya Tepe Discovery Hole With an Oxide Intercept of 14.2 Meters Averaging 4.61 g/t Gold at the Akarca JV Project, Turkey - More
- September 01, 2011 | Item | ShareThis
Alexis Expands Near Mine Potential on Toots West Zone, Snow Lake Mine - More
- September 01, 2011 | Item | ShareThis
First Mexican to Issue a Financing - More
- September 01, 2011 | Item | ShareThis
Iberian Minerals Announces Extended Mine Life at Condestable Mine; Details Further Expansion - More
- September 01, 2011 | Item | ShareThis
Hathor Receives Cameco Offer and Urges No Action by Shareholders - More
- September 01, 2011 | Item | ShareThis
Redhill Resources Corp.: Additional Mapping and Sampling Completed at Honey Comb Hills - More
- September 01, 2011 | Item | ShareThis
Grayd Continues to Expand Tarachi Gold Porphyry - More
- September 01, 2011 | Item | ShareThis
Senetek Announces Exercise of Put Option With Respect to Relief Canyon Project - More
- September 01, 2011 | Item | ShareThis
Creso Announces Acquisition of Past Producing Mann Silver Mine, Milner Township, Ontario - More
- September 01, 2011 | Item | ShareThis
Alix and Caribou Begin Mapping Interpretation and Target Selection on the Vault Property, Yukon - More
- September 01, 2011 | Item | ShareThis
Uranium North Completes Drilling on the Amer Lake Uranium Deposit - More
- September 01, 2011 | Item | ShareThis
Petaquilla Minerals Ltd. Highlights Results for 4th Quarter of Fiscal 2011 - More
- September 01, 2011 | Item | ShareThis
Elissa Resources Discovers Additional Broad Structural Trends At Thor Rare Earth Elements (REE) Project, Nevada - More
- September 01, 2011 | Item | ShareThis
Zenyatta Ventures Ltd; Phase II Drill Program Commences at Albany Project, North-Eastern Ontario - More
- September 01, 2011 | Item | ShareThis
Cartier Cuts 1.5 % Copper and 100 g/t Silver Over 19 Metres on Cadillac Extension - More
- September 01, 2011 | Item | ShareThis
MAG Silver Confirms New Structure in Drilling at Juanicipio - "MAG Silver Corp. ("MAG") announces that recent diamond drilling confirms the discovery of a new high grade structure on the Juanicipio Joint Venture property. The tentatively named "Las Venadas Structure" lies approximately mid-way between the Valdecanas and Juanicipio Veins. Discovery of this new structure reinforces MAG's long-standing expectation that potential remains high for multiple vein discoveries within the Juanicipio Project area." More
- September 01, 2011 | Item | ShareThis
Goldstrike Discovers Intrusive Related Gold Mineralization in Yukon - More
- September 01, 2011 | Item | ShareThis
Golden Dawn Minerals Prepares for Drilling May Mac Mine Area, Boundary Falls Property, Greenwood Mining District, British Columbia, Canada - More
- September 01, 2011 | Item | ShareThis
Copper-Gold-Silver Mineralization at Empire Mining's Demirtepe Project in Turkey is Hosted in High-Value Wollastonite Mineralization - More
- September 01, 2011 | Item | ShareThis
Eco Oro Minerals Corp. Appoints New Chief Financial Officer - More
- September 01, 2011 | Item | ShareThis
Millrock Announces Additional Drilling Results at Uncle Sam Gold Project, Alaska - More
- September 01, 2011 | Item | ShareThis
Ironwood Gold Engages Snowden Exploration to Commence Field Work at Falcon Gold Property, Carlin Trend, Nevada - More
- September 01, 2011 | Item | ShareThis
Minco Silver to Conduct Additional Water Monitoring Study for Finalization of EIA - "Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV.TO - News)(OTCQX: MISVF.PK - News)(PINK SHEETS: MISVF)(WKN: A0ESX5) announces that it has signed an agreement with General Station for Geo-Environmental Monitoring of Guangdong Province ("GSGEM") for a water monitoring study to comply with the new National Water Guidelines issued by Ministry of Environmental Protection of China which were instituted and effective June 1, 2011, as previously indicated in the Company's news release dated July 13, 2011." More
- September 01, 2011 | Item | ShareThis
Comstock Mining Hires Mine Planning Team - "Comstock Mining Inc. (the "Company") (NYSE Amex: LODE) announced today the appointment of Steven R. Tucker as Senior Mine Planner and Gertrude F. Ayakwah as Mine Planner. Steve has significant project management experience and has worked extensively in mine engineering, most recently at Cascade Gold in Mill City, NV, and Mud Miners, Inc., in Manley Hot Springs, AK. Prior to that, he was a senior mine engineer at Round Mountain Gold Corp. in Round Mountain, NV and a project engineer at Champion Construction, LLC at Reno, NV. Steve holds a Bachelor of Science in Mining Engineering from the University of Idaho." More
- September 01, 2011 | Item | ShareThis
Timberline Resources Reports Additional Broad Zones of High-Grade Gold at Butte Highlands - "Timberline Resources Corporation (TSX-V: TBR.V - News)(AMEX: TLR - News) ("Timberline" or the "Company") today announced additional results from the 50,000-foot underground drill program at its Butte Highlands Joint Venture gold property in southwest Montana." More
- September 01, 2011 | Item | ShareThis
Source Retains Investor Relations Consultant - More
- September 01, 2011 | Item | ShareThis
Century Mining Corporation Announces Leading Shareholder Services Firm Recommends Shareholders Vote FOR the White Tiger Acquisition - More
- September 01, 2011 | Item | ShareThis
Talison Lithium to Present at the Wedbush 2011 Clean Technology & Industrial Growth Conference - More
- September 01, 2011 | Item | ShareThis
Crescent Resources Announces Additional Drilling Results at Uncle Sam Gold Project, Alaska - More
- September 01, 2011 | Item | ShareThis
Oceanic Iron Ore Corp.: Assay Results Return 39.9% Fe Total Over 36 Metres and 39.4% Over 46 Metres - More
- September 01, 2011 | Item | ShareThis
Sunridge Gold Reports High Grade Assay Values From Adi Nefas, Asmara Project, Eritrea - More
- September 01, 2011 | Item | ShareThis
Radisson Announces Underground Exploration Program at O'Brien-Kewagama Gold Project - More
- September 01, 2011 | Item | ShareThis
Eskay Mining Announces Extension of Units Offering - More
- September 01, 2011 | Item | ShareThis
Red Pine Drill Results and Exploration Update - More
- September 01, 2011 | Item | ShareThis
Pelangio Exploration Acquires 100% of the Manfo Gold Property - More
- September 01, 2011 | Item | ShareThis
Vista Gold Corp. Announces Initial Results from Guadalupe de los Reyes Field Program - "Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Company") is pleased to announce the initial results of its Phase I surface sampling program completed at its Guadalupe de los Reyes gold-silver project in Sinaloa, Mexico. In June of this year, Vista initiated the first phase of a two-phase exploration program. In Phase I, vein outcrops, mostly in the form of stockwork, were mapped and 187 samples were collected for assay analysis. The initial results from Phase I have confirmed the surface continuity of gold-silver bearing veins over a combined strike length of 14 km. Chip samples collected from the stockwork surface expression of the veins contain silver grades as high as 653 g/t and gold grades as high as 7.3 g/t. A summary of the results of this sampling program can be seen in the maps, together with typical sections showing the relationship between the stockwork and Low Sulfidation Epithermal (LSE) veins which can be found on our website at http://www.vistagold.com/guadalupe.php?subpage=figures." More
- September 01, 2011 | Item | ShareThis
Drilling Resumes at Miranda Gold%u2019s Angel Wing Project - More
- September 01, 2011 | Item | ShareThis
PC Gold Releases Latest Central Pat East Drilling, Summarizes Results to Date and Plans All-Weather Road to Discovery Site - More
- September 01, 2011 | Item | ShareThis
Eloro Resources Announces Financing - More
- September 01, 2011 | Item | ShareThis
Cadillac Ventures Inc.: Thierry Mine Updated Mineral Resource Estimate Increases Measured and Indicated by 33% and Inferred by 75% - More
- September 01, 2011 | Item | ShareThis
U3O8 Corp. Reports Results of Infill Drilling at Aricheng C in the Kurupung Project, Guyana - More
- September 01, 2011 | Item | ShareThis
Timmins Gold Intersects 36.58 Metres Grading 0.816 Grams Per Tonne Gold at La Chicharra Open Pit - More
- September 01, 2011 | Item | ShareThis
Golden Predator Acquires Livingstone District; Now Controls Largest Land Position in the Yukon - More
- September 01, 2011 | Item | ShareThis
Medusa Mining Limited: Investor Presentation - More
- September 01, 2011 | Item | ShareThis
Xstrata Copper, Goldcorp and Yamana Finalize Four-year Option Agreement on Agua Rica - "Xstrata Copper, Goldcorp Inc. ("Goldcorp") and Yamana Gold Inc. ("Yamana") announced today that they have reached a definitive agreement providing Minera Alumbrera Limited Sucursal Argentina ("Minera Alumbrera") the exclusive option to acquire Yamana's 100% interest in the Agua Rica project. Agua Rica is a feasibility stage project in the province of Catamarca, Argentina, located approximately 35 kilometres from the currently operating Alumbrera mine." More
- September 01, 2011 | Item | ShareThis
Crosshair Calls for AusAm to Engage in Good Faith Negotiations - More
- September 01, 2011 | Item | ShareThis
Petaquilla Minerals Ltd. Shareholders Approve Acquisition - More
- September 01, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Thursday, 1 September 2011 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Slightly Lower
