Gold chopped its way up to $1661.85 by a little after 8:30AM EST before it fell back off a bit in New York, but it still ended with a gain of 0.97%.Silver surged to as high as $32.028 and ended with a gain of 1.54%.
Euro gold rose to about €1185, platinum gained $40 to $1541, and copper climbed 23 cents to about $3.45.
Gold and silver equities climbed higher throughout most of trade and ended with about 4% gains.
Tomorrow at 9AM EST brings the Case-Shiller 20-city Index for August expected at -3.5% and at 10AM is the FHFA Housing Price Index for August and Consumer Confidence for October expected at 46.0.
They both tend to move up at the same time, mover lower at the same time and grind sideways at the same time.
What these charts tell us is that there is no longer any SERIOUS INVESTMENT "STRATEGY" in today's financial markets. All that they are doing is reflecting either the willingness of the HEDGE FUNDS to take on RISK TRADES or to FLEE from RISK.
On any given day, if the risk trades are on, these nitwit hedge fund managers buy everything in sight except for US TREASURIES or the US DOLLAR. If the following day brings in risk aversion trades, they throw away everything purchased the previous day and do the exact opposite.
Truth be told this sort of thing has nothing to do with INVESTING. It has everything to do with MONEY FLOWS generated by computer algorithms. This sad state of affairs is what Central Bank interventions and constant interference into the financial markets has reduced our markets to.
Traders have to put aside their personal disgust at this madness and trade accordingly if they wish to profit. Still, in this trader's opinion, this is one more symptom of the decline of the West. No longer is the stock of various companies bought because of long term prospects for solid profits based on solid research and good analysis. Instead it goes up based on whether or not the Central Banks will spit more liquidity into the marketplace.
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
1227.511
39,465,716
US$65,179m
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$6,129m
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$6,707m
Australian Stock Exchange (ASX)
Gold Bullion Securities
14.21
473,403
US$755m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
42.84
1,377,389
US$2,317m
NASDAQ Dubai
Dubai Gold Securities
0.154
4,947
US$8m
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.21: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,840.75: -33.3 change from yesterday’s data.
Randgold’s (GOLD) new mine opening in Cote d'Ivoire, AuRico’s (AUQ) acquisition of Northgate, Great Basin’s (GBG) operational update, Seabridge’s (SA) optioned project, Fortuna’s (FSM) third quarter production figures, Silvercorp’s (SVM) forensic accountants report, and Extorre’s (XG) ringing of the NYSE opening bell were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1.Gold Reserve
GRZ+21.29% $2.45
2.Jaguar
JAG +9.83% $4.47
3.Claude
CGR +9.14% $1.91
LOSERS
1.Comstock
LODE-3.81% $2.02
2.Avino
ASM -1.19% $1.88
3.Minco
MGH -0.95% $1.15
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:
Gossan to Invest in East Mining Company and Announces Private Placement - More - October 24, 2011 | Item | ShareThis
Viper Gold Reports Verification Sampling on Campbell Lake Property Does Not Confirm High Grade Results - More - October 24, 2011 | Item | ShareThis
Cascadero Copper Corporation Options Powerline Gold Prospect Sudbury, Ontario - More - October 24, 2011 | Item | ShareThis
Golden Dawn announces completion of phase 3 of its drilling program on the Wild Rose - Tam O'Shanter Property, British Columbia, Canada - More - October 24, 2011 | Item | ShareThis
Bellzone Mining plc and Anglo Aluminum Corp.: Third Party Access to 300 MTPA Infrastructure in Guinea - More - October 24, 2011 | Item | ShareThis
Fission Energy Corp.: Trenching Begins at High Grade Boulder Field at Patterson Lake South ("PLS") - More - October 24, 2011 | Item | ShareThis
Southern Arc Commences Drilling at Sabalong Project - More - October 24, 2011 | Item | ShareThis
President Opens New Randgold Mine in Cote d'Ivoire - "The Honourable Alassane Ouattara, President of Cote d'Ivoire, today officially opened Randgold Resources' new Tongon gold mine in the north of the country. Also at the ceremony were the Minister of Mines, Oil and Energy Adama Toungara, a number of ambassadors and senior government officials from the Cote d'Ivoire as well as Mali and the DRC, and representatives of Randgold's international and African business partners." More - October 24, 2011 | Item | ShareThis
Northcore Resources Completes Airborne Survey on BC Rare Earth Properties - More - October 24, 2011 | Item | ShareThis
Apella Expands With New Ontario Vanadium-Iron-Titanium Discovery - More - October 24, 2011 | Item | ShareThis
Sabina Gold & Silver Appoints Rob Pease as New President and CEO and Director of the Board - More - October 24, 2011 | Item | ShareThis
Hondo Minerals to Present at Singular Research's Best of the Uncovereds Sixth Annual Conference, Wednesday, October 26th - More - October 24, 2011 | Item | ShareThis
Portage & Cliffs JV to Resume Drilling at Golden Ridge Deposit, New Brunswick - More - October 24, 2011 | Item | ShareThis
Redhill Resources Corp.: Mutiny to Increase Ownership in Gullewa to 100% - More - October 24, 2011 | Item | ShareThis
Drilling at El Capitan Confirms Potential for A Bulk Tonnage, Low Grade Gold Deposit - More - October 24, 2011 | Item | ShareThis
Riverside Resources and Partner Sierra Madre Report Positive Drill Results Including 33.5 Metres of 1.7 g/t Gold at the Penoles Project in Durango, Mexico - More - October 24, 2011 | Item | ShareThis
Sphere Acquires Additional Spartan Gold Shares for 53.85% Control - More - October 24, 2011 | Item | ShareThis
Gryphon Gold Continues Loaded Carbon Shipments - More - October 24, 2011 | Item | ShareThis
Minmetals Resources Ltd Receives FIRB Approval to Acquire Anvil Mining Ltd - More - October 24, 2011 | Item | ShareThis
CB Gold Inc. Intercepts 114.98 Metres at 7.57 g/t Gold Including 40.89 Metres at 17.17 g/t Gold in a New Mineralised Zone - More - October 24, 2011 | Item | ShareThis
Silver Range Resources Continues to Expand and Delineate Keg Main Zone and Makes New Bulk-Tonnage Discovery at Keg East Zone - More - October 24, 2011 | Item | ShareThis
Trevali Completes Downhole Geophysical Survey on Magistral Deposits, Santander Mine Project in Peru - More - October 24, 2011 | Item | ShareThis
Mining License Approved for the Boa Fé Gold Project in Portugal - More - October 24, 2011 | Item | ShareThis
USMN Welcomes D.C.-Area Television Executive to Advisory Board - More - October 24, 2011 | Item | ShareThis
Newton Gold Adds New Director - More - October 24, 2011 | Item | ShareThis
PJX Resources Inc. Commences Drilling on Dewdney Trail Property - More - October 24, 2011 | Item | ShareThis
Metallum Resources Inc. Commences Trenching and Channel Sampling on its M-18 Gold and Silver Property - More - October 24, 2011 | Item | ShareThis
Forsys Announces Agreement to Acquire Remaining 30% of Namibplaas Uranium Project and Commences Phase Two Drilling Program - More - October 24, 2011 | Item | ShareThis
Messina Commissions NI43-101 Resource Estimate on Main Zone, Central Newfoundland - More - October 24, 2011 | Item | ShareThis
Lucky Thirteen Placer Prefeasibility Milestone - More - October 24, 2011 | Item | ShareThis
Argonaut Gold Increases Measured and Indicated Resource at La Colorada to 1.1 million Gold Ounces up 76% - More - October 24, 2011 | Item | ShareThis
Medallion Resources Engages Hamza Thindal Capital to Provide Investor Relations - More - October 24, 2011 | Item | ShareThis
Montero's NI 43-101 Resource Estimate on the Wigu Hill Rare Earth Project in Tanzania filed on SEDAR - More - October 24, 2011 | Item | ShareThis
Castle Peak Granted Great Yorkshire Reconnaissance License; Land Expansion Follows Prospective Birimian-Tarkwaian Boundary - More - October 24, 2011 | Item | ShareThis
Resinco(TM) Capital Partners Inc. Releases September 2011 Net Asset Value - More - October 24, 2011 | Item | ShareThis
Woulfe Mining Gains Explosive License, Takes First Blast and First Process Equipment Is Delivered to Site - More - October 24, 2011 | Item | ShareThis
Calibre Mining Trenches 179.4 Metres Grading 0.63 g/t Gold at the Primavera Gold-Copper Project, Nicaragua - More - October 24, 2011 | Item | ShareThis
Swift Resources Inc. Completes Drilling at Its Castlegar Project in South Eastern British Columbia - More - October 24, 2011 | Item | ShareThis
Match Capital Intersects Broad Copper-Nickel-PGE Mineralization - More - October 24, 2011 | Item | ShareThis
Finore Mining Inc. Signs Drill Contract For LK Project - More - October 24, 2011 | Item | ShareThis
Detour Gold's Transmission Line for Detour Lake Mine Connected to Ontario Grid - More - October 24, 2011 | Item | ShareThis
Laurentian Goldfields Commences Drilling at Goldpines South Property - More - October 24, 2011 | Item | ShareThis
Seafield Drills 119.1 Metres of 0.69 g/t Gold and 0.09% Copper at the Dosquebradas Porphyry-Type Gold Prospect in the Quinchia District, Colombia - More - October 24, 2011 | Item | ShareThis
Ron Parratt Joins Western Pacific's Advisory Board - More - October 24, 2011 | Item | ShareThis
Northisle Copper and Gold Begins Trading on the TSX Venture Exchange - More - October 24, 2011 | Item | ShareThis
Rare Earth Metals Confirms REE Mineralization in East Lavergne Mineralized Zone on Its Springer Lavergne Prospect - More - October 24, 2011 | Item | ShareThis
Concordia Resource Corp. Signs Definitive Agreement to Acquire Swala Resources Inc. - More - October 24, 2011 | Item | ShareThis
North Country Continues to Discover New Areas of Gold Mineralization at Committee Bay Project - More - October 24, 2011 | Item | ShareThis
Atna Drilling Increases Size of Reward Gold Deposit - More - October 24, 2011 | Item | ShareThis
Legend Gold Appoints Douglas Perkins as President & CEO - More - October 24, 2011 | Item | ShareThis
Atacama Appoints New Management Team and Agrees to Acquire Sirocco Gold - More - October 24, 2011 | Item | ShareThis
North Bay Resources Inc. (NBRI) Begins Phase II Pre-Production Operations at Ruby Gold Project - More - October 24, 2011 | Item | ShareThis
Red Crescent Reports No Damage from Earthquake in Turkey - More - October 24, 2011 | Item | ShareThis
Orsa Ventures Options Quartz Mountain and Angel's Camp Properties - More - October 24, 2011 | Item | ShareThis
International Northair Mines Provides Exploration Update on La Cigarra Silver Project, Mexico - More - October 24, 2011 | Item | ShareThis
Redstar Discovers New Gold Zone on the Cooks Creek Project, Cortez Trend-Nevada - More - October 24, 2011 | Item | ShareThis
Canadian Orebodies Announces Third Set of Drill Results from Haig Inlet Iron Ore Project - More - October 24, 2011 | Item | ShareThis
Viking Minerals Reports on Discovery Hole at Its Dolly Varden Property, Elko County Nevada - More - October 24, 2011 | Item | ShareThis
Catalina Discovers New Gold Zone on the Cooks Creek Project Cortez Trend-Nevada - More - October 24, 2011 | Item | ShareThis
Medusa Mining Limited: Investor Presentation - More - October 24, 2011 | Item | ShareThis
Medusa Mining Limited: Quarterly Activities Report Period Ended 30 September 2011 - More - October 24, 2011 | Item | ShareThis
Jourdan Transfer Its Uranium Assets to Gimus Resources Inc. and Completes $370,000 Financing for New Subsidiary - More - October 24, 2011 | Item | ShareThis
Sama Resources Intersects 20.65 Metres at 1.17% Nickel+Copper at its Samapleu Extension 1 Deposit - More - October 24, 2011 | Item | ShareThis
Lithium Americas to Include Potash Production at Its Cauchari-Olaroz Lithium Brine Project - More - October 24, 2011 | Item | ShareThis
Reservoir Minerals Inc. Announces Appointment of Directors and Officers - More - October 24, 2011 | Item | ShareThis
Hana Mining Ltd. Announces the Appointment of a Highly Experienced Technical Manager to Play a Key Role in the Development of the Ghanzi Project - More - October 24, 2011 | Item | ShareThis
Dynacor Gold Mines to Build a $4.5 Million Second Gold-Ore Processing Plant - More - October 24, 2011 | Item | ShareThis
Largo Resources Receives Installation License/Construction License for Its Maracas Vanadium Project, Bahia, Brazil - More - October 24, 2011 | Item | ShareThis
Molycorp Purchases Remaining Shares of European Rare Earth Processing Company - More - October 24, 2011 | Item | ShareThis
PGM Nickel Exploration Continuing at East Bull Lake - More - October 24, 2011 | Item | ShareThis
Ur-Energy Announces Receipt of Wyoming State Permit to Mine for the Lost Creek ISR Uranium Project - More - October 24, 2011 | Item | ShareThis
Bannerman Update on Hanlong Proposal - More - October 24, 2011 | Item | ShareThis
Luiri Gold Completes Private Placement - More - October 24, 2011 | Item | ShareThis
AuRico Gold's Acquisition of Northgate Minerals Receives Overwhelming Support of Shareholders - "AuRico Gold Inc. (TSX:AUQ.to - News) (NYSE:AUQ - News) ("AuRico") and Northgate Minerals Corporation (TSX:NGX.to - News) (NYSE-Amex:NXG) ("Northgate") are pleased to announce that shareholders of both companies have voted overwhelmingly in favour of the acquisition of Northgate by AuRico at their respective special meetings held earlier today. Shareholders of AuRico voted 99.1 percent in favour of the transaction while Northgate shareholders voted 98.6 percent in favour. The transaction is expected to close on October 26, 2011." More - October 24, 2011 | Item | ShareThis
Great Basin Gold provides operational update - "Great Basin Gold Ltd. ("Great Basin Gold" or the "Company"), (TSX:GBG.to - News) reports an operational update for the three months ended September 30, 2011. The Company will file its Management Discussion and Analysis and interim financial statements for the third quarter ("Q3 2011") on November 15, 2011 and will hold an earnings call on November 16, 2011 at 9 am (EST)." More - October 24, 2011 | Item | ShareThis
Fortuna Reports Production Figures for Third Quarter 2011 - "Fortuna Silver Mines Inc. (NYSE:FSM - News) (TSX:FVI.to - News) (BVL: FVI) is pleased to announce consolidated production figures for the third quarter of 2011 from its San Jose mine located in Mexico and its Caylloma mine located in Peru. The Company is on schedule to deliver 2.4 million ounces of silver and 7,530 ounces of gold in 2011." More - October 24, 2011 | Item | ShareThis
Seabridge Gold Options Quartz Mountain Project to Orsa Ventures - "Seabridge Gold (TSX: SEA.TO - News)(AMEX: SA - News) announced today that it has entered into an Option Agreement with Orsa Ventures Corp. whereby Orsa can purchase Seabridge's 100% interest in the Quartz Mountain Project and all of Seabridge's undivided 50% beneficial joint venture interest in the adjacent Angel's Camp Gold Property, (together the "Properties"). The Properties are located in Lake County, southern Oregon." More - October 24, 2011 | Item | ShareThis
Silvercorp Receives Clear Forensic Accountants Report - "Silvercorp Metals Inc. (TSX: SVM.TO - News)(NYSE: SVM.TO - News) ("Silvercorp" or the "Company") advises that it has received the report of KPMG Forensic Inc. ("KPMG"), commissioned by its Special Committee (the "KPMG Report") to review the allegations issued by two anonymous sources in September respecting the Company's financial position." More - October 24, 2011 | Item | ShareThis
Extorre to Ring the Opening Bell on the NYSE-Monday October 24th, 2011 - "Extorre Gold Mines Limited (TSX: XG.TO - News)(AMEX: XG.TO - News)(Frankfurt: E1R.F - News) ("Extorre" or the "Company") is pleased to announce that it will ring the opening bell on the New York Stock Exchange today, October 24, 2011. A week of marketing the Company in eastern USA and Canada will follow." More - October 24, 2011 | Item | ShareThis
Silver Standard Pirquitas Ball Mill and Sales Contract Update - "The Pirquitas ball mill was shut down September 24, 2011, due to the condition of the ball mill gearbox and repairs on the unit were completed on October 10, 2011. The gearbox was tested under load and initially operated the ball mill; however continuous condition monitoring indicated it was functioning outside acceptable parameters." More - October 24, 2011 | Item | ShareThis
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Gold Seeker Closing Report: Gold and Silver Gain About 1%
