-- Posted 24 August, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $942.75 | -$10.15 |
Silver | $14.21 | +$0.05 |
XAU | 146.16 | -0.82% |
HUI | 354.67 | -1.07% |
GDM | 1070.91 | -1.09% |
JSE Gold | 2317.36 | -19.74 |
USD | 78.24 | +0.19 |
Euro | 142.97 | -0.23 |
Yen | 105.80 | -0.13 |
Oil | $74.37 | +$0.48 |
10-Year | 3.494% | -0.062 |
T-Bond | 119.765625 | +0.953125 |
Dow | 9509.28 | +0.03% |
Nasdaq | 2017.98 | -0.14% |
S&P | 1025.57 | -0.06% |
The Metals:
Gold rose to see a $3.95 gain at $956.85 in London before it chopped its way back lower for most of trade in New York, but it then dropped off rather markedly in the last half hour of trade and ended near its low of $939.02 with a loss of 1.07%. Silver climbed over 2% to as high as $14.47 in Asia, but it also fell back off in late trade in New York and ended near its low of $14.085 with a gain of just 0.35%.
Euro gold fell to about €659, platinum lost $19 to $1234.50, and copper gained a few cents to about $2.91.
Gold and silver equities rose nearly 2% by midmorning, but they then fell back off in afternoon trade and ended with about 1% losses on the day.
The Economy:
There were no major economic reports today. Tomorrow at 9AM EST brings the S&P/Case-Shiller Home Price Index for June expected at -16.4% and at 10AM is Consumer Confidence for August expected at 48.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil touched a new 10-month high on hopes that an improving economy will stimulate energy demand.
The U.S. dollar index and treasuries rose after the Dow, Nasdaq, and S&P erased their morning gains and ended near unchanged on worries over more losses in the banking sector.
Among the big names making news in the market today were Reader’s Digest, Warner Chilcott, Nokia, and Titan’s International.
The Commentary:
“December Gold closed down 11 at 943.7. This was 8 up from the low and 13.7 off the high.
December Silver finished up 0.032 at 14.231, 0.264 off the high and 0.141 up from the low.
With a big range down probe on Monday the bull camp in gold was probably unnerved a bit, especially with initial equity market strength reversed and the Dollar firming in the second half of the trading session. The gold trade on Monday morning should have been supported by the regularly scheduled US data flow and also because of strength in a number of physical commodity markets. However, the gold market showed early divergence with the silver market and to some traders that suggested a lack of bullish consensus in the metals complex.
After a somewhat impressive early range up extension, the silver market fell back away from the early morning highs. Some traders suggested that the reversal in the equities markets and talk from an H1N1 conference about the coming flu season prompted some silver longs to bank profits. With the Dollar rejecting an initial slide below the prior session's close, it is possible that currency market action was another reason behind the silver markets setback from the highs forged on Monday morning.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Bundesbank confirms Germany's gold is in play
Looks like CFTC's aim is to suppress commodity prices
Barry Sergeant: The illusion of gold mining profits
CMRE fall dinner meeting to hear Vieira, Tice, Williams
Adrian Douglas: 'Cash cost' hides unprofitability of gold mining
Adrian Douglas: Don't ease up yet on MorganChase, CFTC
GATA presses Fed to give up its golden secrets
Gold mining may not be profitable even near $1,000 per ounce
MorganChase has probably hedged its silver shorts, Butler says
The Statistics:
Activity from: 8/21/2009
Gold Warehouse Stocks: | 9,173,670 | +1,158 |
Silver Warehouse Stocks: | 117,776,084 | +3,870 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,066.41 | 34,286,129 | US$ 32,648m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 127.82 | 4,109,487 | US$ 3,893m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.80 | 442,092 | US$ 420m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 43.70 | 1,405,010 | US$ 1,338m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.92 tonnes.
COMEX Gold Trust (IAU)
Profile as of 8/21/2009 | |
Total Net Assets | $2,251,134,363 | Ounces of Gold
in Trust | 2,362,200.319 |
Shares Outstanding | 24,050,000 | Tonnes of Gold
in Trust | 73.47 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 8/21/2009 | |
Total Net Assets | $3,973,743,434 | Ounces of Silver
in Trust | 283,719,850.300 |
Shares Outstanding | 288,350,000 | Tonnes of Silver
in Trust | 8,824.67 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
Gold Fields’ (GFI) director appointment, Randgold’s (GOLD) meeting with the government of the Democratic Republic of the Congo, Midway’s (MDW) quarterly update, Solitario’s (XPL) agreement to acquire all of the outstanding shares of Metallic ventures, ECU Silver’s (ECU.TO) extended debt facility, and International Minerals’ (IMZ.TO) operating results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Entree | EGI +5.70% $1.67 |
2. Taseko | TGB+4.60% $2.73 |
3. Nevsun | NSU+3.23% $1.60 |
LOSERS
1. NovaGold | NG -5.19% $3.47 |
2. DRDGOLD | DROOY-4.90% $7.18 |
3. Solitario | XPL -4.86% $1.76 |
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:
Skyline Announces Increase in Private Placement and Closing of First Tranche - More
- August 24, 2009 | Item | E-mail
Aurora Gold Corporation Announces That It Is in Advanced Discussions to Acquire Several Properties in Brazil Suitable for Early Start Up Gold Production - More
- August 24, 2009 | Item | E-mail
Staccato Gold Commences Drilling at Windfall Project - More
- August 24, 2009 | Item | E-mail
Merrex Loan Facility - More
- August 24, 2009 | Item | E-mail
ECU Silver Extends Debt Facility - "ECU Silver Mining Inc. ("ECU Silver") (TSX:ECU - News) is pleased to report that it has entered into an agreement with its lender to restructure its current debt. The restructuring of the debt will provide ECU Silver with greater financial flexibility as we move forward with additional development plans for future operational growth and for the planning of our exploration program." More
- August 24, 2009 | Item | E-mail
Inter-Citic Minerals Inc. Files Preliminary Economic Assessment and Updated Resource Estimate at Dachang Gold Project - More
- August 24, 2009 | Item | E-mail
Trelawney Enters Into Agreement to Acquire Young-Shannon Property - More
- August 24, 2009 | Item | E-mail
Murgor Resources $810,000 private placement to China Nonferrous Metals Exploration Corp. to close on August 31, 2009 - More
- August 24, 2009 | Item | E-mail
West Timmins Gold Project Update - More
- August 24, 2009 | Item | E-mail
Alan Hill Appointed to Gold Fields Board of Directors - "Mr. Hill serves on the board of Gabriel Resources and until recently was Chairman of Alamos Gold: both companies are involved in gold exploration and development. Mr. Hill joined Barrick Gold in 1984. He spent 19 years with Barrick and was instrumental in its considerable growth, having played a pivotal role in its various merger and acquisition initiatives through the years. He retired from Barrick in 2003 as its Executive Vice President Development." More
- August 24, 2009 | Item | E-mail
Tirex Resources Closes Oversubscribed Financing to Intensify Drilling at Mirdita - More
- August 24, 2009 | Item | E-mail
Colonnade Signs Letter Agreement With Next Lithium Corp. - More
- August 24, 2009 | Item | E-mail
USEC Appoints Christine M. Ciccone Senior Vice President - More
- August 24, 2009 | Item | E-mail
NQ Exploration Completes Closing of Private Placements for $450,000 - More
- August 24, 2009 | Item | E-mail
Golden Goose initiates hydrogeology studies on its Magino gold project - More
- August 24, 2009 | Item | E-mail
GoldTrain Completes Phase 1 of its Field Program on the Missinabie Property - More
- August 24, 2009 | Item | E-mail
Golden Band Resources - La Ronge Gold Project - Surface Lease Agreement signed - More
- August 24, 2009 | Item | E-mail
Rare Element Initiates 2009 Rare-Earths Drilling Program - More
- August 24, 2009 | Item | E-mail
Atna Receives Approval for Development of Reward Gold Mine - More
- August 24, 2009 | Item | E-mail
Iberian Minerals to Issue Shares to Insersa - More
- August 24, 2009 | Item | E-mail
Radius Acquires Gold Target Near Dawson City, Yukon - More
- August 24, 2009 | Item | E-mail
Full Metal and Mosam Commence Exploration at the Mountain Andrew Copper-Gold Project in Southeast Alaska - More
- August 24, 2009 | Item | E-mail
International KRL announces change of Chief Financial Officer - More
- August 24, 2009 | Item | E-mail
Silverado Forms Advisory Board - More
- August 24, 2009 | Item | E-mail
USA Uranium Options Gold Property and Adds Communications Expertise - More
- August 24, 2009 | Item | E-mail
Guyana Goldfields reports Robust Projected Economics from Preliminary Assessment for the Aurora Gold Project - More
- August 24, 2009 | Item | E-mail
Advanced Explorations Inc. Corporate Update - More
- August 24, 2009 | Item | E-mail
East Asia Minerals Encounters 106.46 g/t Gold Over 4.60 Metres in Rock Sawn Channel Sampling at Eastern Area of Main Miwah Gold Zone - More
- August 24, 2009 | Item | E-mail
Kaminak Identifies Additional Gold-In-Soil Trends on the Coffee Property: New Soil Results Yield Up to 3.16 g/t Au - More
- August 24, 2009 | Item | E-mail
Kirrin Resources Banks Further $360,000 Profit on 2008 Asset Sale; Awards Consultant's Option - More
- August 24, 2009 | Item | E-mail
Riverside Signs Definitive Agreement to Option Libertad Gold Project, Mexico to Geologix Explorations Inc. - More
- August 24, 2009 | Item | E-mail
Why the Recent Chinese Government Decision on Heavy Rare Earths Has an Impact on Matamec's Kipawa Rare Earths-Yttrium-Zirconium Deposit! - More
- August 24, 2009 | Item | E-mail
Eurasian Minerals Inc.: Treuil and La Mine Licenses Accepted for Designated Project Status in Haiti - More
- August 24, 2009 | Item | E-mail
Consolidated Thompson Appoints Pierre Lortie and Yin Xiao Peng to Board of Directors - More
- August 24, 2009 | Item | E-mail
Consolidated Abaddon Staking and Evaluating Lithium Prospects - More
- August 24, 2009 | Item | E-mail
Carpathian Phase II Drilling Intersects 13.1 m of 2.28 g/t Au, Including 4.7 m of 3.97 g/t Au on the RDM Gold Project, Brazil - More
- August 24, 2009 | Item | E-mail
Lake Shore Gold Reports High-Grade Intercepts From Underground Drilling at Timmins Mine - More
- August 24, 2009 | Item | E-mail
Minera Andes initiates exploration on 100%-owned targets in Argentina - More
- August 24, 2009 | Item | E-mail
Anvil Provides Update on Private Placement - More
- August 24, 2009 | Item | E-mail
Azteca Announces First Closing of Private Placement - More
- August 24, 2009 | Item | E-mail
Lounor Exploration Inc. - Private Placement - More
- August 24, 2009 | Item | E-mail
Arcus Closes Private Placement and Property Acquisition - More
- August 24, 2009 | Item | E-mail
Canyon Copper Adopts 2009 Stock Option Plan, Grants Stock Options and Suspends And/Or Terminates Previous Stock Option Plans - More
- August 24, 2009 | Item | E-mail
Medoro Resources Announces 2009 Second Quarter Results - More
- August 24, 2009 | Item | E-mail
Orvana Appoints James Gilbert to Board of Directors - More
- August 24, 2009 | Item | E-mail
Randgold Meets DRC Government on Moto - "Randgold Resources and the government of the Democratic Republic of the Congo (DRC) will hold follow-up talks in Kinshasa this week to agree the details of their cooperation on the Moto gold project." More
- August 24, 2009 | Item | E-mail
Solitario Exploration & Royalty and Metallic Ventures Gold Inc. Enter into Arrangement Agreement to Acquire All Outstanding Shares of Metallic Ventures - "This is a significant step forward for Solitario with the inclusion of Metallic Ventures income producing Net Smelter Return Royalty on the Ruby Hill gold mine operated by Barrick Gold and the advanced Goldfield and Converse gold projects in mining friendly Nevada. We believe both the Goldfield and Converse properties have outstanding exploration upside and that the Ruby Hill mine will generate significant annual royalty income for years to come. Additionally, as a condition of closing, Metallic Ventures will have at least US$10.5 million in cash. It fits perfectly into Solitario's business model of emphasizing exploration while building a royalty base. We look forward to the inclusion of Metallic Ventures shareholders into Solitario's shareholder base." More
- August 24, 2009 | Item | E-mail
Midway Gold Announces Spring Valley Quarterly Update - "Midway Gold Corp. ("Midway") (TSX-V:MDW - News)(AMEX:MDW - News) is pleased to announce second quarter results from drilling and metallurgical work underway by Barrick Gold Exploration Inc. ("Barrick") at the Spring Valley Project, Nevada. Bottle roll tests as reported by Barrick show excellent gold recoveries of over 90% for both oxide and sulfide-bearing composite samples. Drilling completed through June 2009 totaled 14,122 feet of reverse circulation (RC) and 6,736 feet of core." More
- August 24, 2009 | Item | E-mail
International Minerals Reports Strong Pallancata Mine Operating Results; Initial US$1.2 million Cash Dividend Received - "International Minerals Corporation (TSX: IMZ - News)(SIX: IMZ) reports that the Pallancata silver-gold mine in southern Peru more than doubled silver production in the calendar second quarter (“Q2 2009”) to 1.9 million ounces (753,200 silver ounces attributable to IMZ) compared to the second quarter of 2008." More
- August 24, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 24 August, 2009 | |
