-- Posted 11 January, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1151.30 | +$13.20 |
Silver | $18.63 | +$0.22 |
XAU | 182.62 | +0.48% |
HUI | 465.32 | +0.59% |
GDM | 1384.71 | +0.73% |
JSE Gold | 2540.63 | +26.57 |
USD | 77.01 | -0.45 |
Euro | 145.18 | +1.08 |
Yen | 108.60 | +0.69 |
Oil | $82.52 | -$0.23 |
10-Year | 3.818% | +0.010 |
T-Bond | 115.1875 | -0.28125 |
Dow | 10633.99 | +0.43% |
Nasdaq | 2312.41 | -0.21% |
S&P | 1146.98 | +0.17% |
The Metals:
Gold jumped higher at the open of trade in Asia on news of “gathering economic momentum” and strong commodity imports in December in China that pointed to strong future demand for real assets. The yellow metal rose to as high as $1161.60 in early New York trade before it fell back off a bit into the close, but it still ended with a gain of 1.16%. Silver climbed to as high as $18.88 before it also fell back off, but it still gained 1.2%.
Euro gold rose to about €793, platinum gained $12.50 to $1584, and copper gained roughly 4 cents to about $3.43.
Gold and silver equities rose over 2% at the open, but they then fell back off for most of the rest of trade and ended with only slight gains.
The Economy:
There were no major economic reports today. Tomorrow at 8:30AM EST brings the Trade Balance for November expected at -$34.5 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil reversed early gains and ended modestly lower on forecasts for warm weather that lowered demand expectations.
The U.S. dollar index fell slightly with treasuries while the Dow, Nasdaq, and S&P ended mixed as traders awaited earnings reports.
Among the big names making news in the market today were GM, Heineken, Ford, Citigroup, NBC, and the Chinese automakers.
The Commentary:
“Yesterday's COT report was a yawner. The bullion banks' short position in both silver and gold was virtually unchanged from Monday's report. The Bank Participation Report was also issued yesterday. Normally, because there were only one or two U.S. bullion banks short massive quantities of silver and gold, JPMorgan stood out like a sore thumb. But starting in December [if you read the explanatory notes for the report], you'll see that they no longer list the number of banks if they are less than 4. This was designed to protect JPMorgan, but this change came too late.
In a nutshell, less than four U.S. banks are short 37,871 Comex silver contracts... and long only 579 contracts. These positions [net] represent 29.7% of the total silver open interest on the Comex... virtually all of it held by JPMorgan. All non-U.S. banks together are short 2,076 silver contracts and long 2,250 Comex contracts. This works out to a net long position of 174 Comex contracts... or 0.1% of the Comex open interest in silver. This should tell you all you need to know about who controls the silver price.
In gold, four U.S. banks are short 129,943 Comex gold contracts and long 2,391 Comex contracts. These positions [net] represent 25.1% of total Comex open interest in gold... with JPMorgan being by far the biggest short of the bunch. By contrast, there are 15 non-U.S. banks that hold 31,540 Comex short positions and 9,696 long positions on the Comex. This represents, net, 4.3% of total Comex open interest. And it would be my bet that of these 15 non-U.S. banks, the vast majority of the 31,540 Comex short positions in gold are held by only two or three of those banks. January's Bank Participation Report is linked here... and the silver and gold numbers are about two thirds of the way down the page.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
GATA Posts:
Fed presses appeal to block disclosure of bailout information
James Turk on M3's fall and silver's rise
Commodity Online notes GATA's work at length if terribly incompletely
The Statistics:
Activity from: 1/08/2010
Gold Warehouse Stocks: | 9,906,029 | -22,450 |
Silver Warehouse Stocks: | 111,579,280 | -402,615 |
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 | 1119.541 | 35,994,350 | US$41,495m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 124.14 | 3,989,333 | US$4,595m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.37 | 491,793 | US$569m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 53.02 | 1,704,541 | US$1,921m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,983 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.962 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.30 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,488.81 - No change from yesterday’s data.
The Miners:
Claude’s (CGR) gold production, Anatolia’s (ANO.TO) construction, NovaGold’s (NG) completed purchase, Aurizon’s (AZK) production results, Goldcorp’s (GG) gold production, Seabridge’s (SA) updated resource estimate, Allied Nevada’s (ANV) drill results, Fronteer’s (FRG) exploration results, International Royalty’s (ROY) recommended rejection of Franco-Nevada’s offer, Great Panther’s (GPR.TO) production, and First Majestic’s (FR.TO) production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Tanzanian Royalty | TRE +9.95% $4.09 |
2. Richmont | RIC +7.64% $4.87 |
3. Entree | EGI +4.00% $3.38 |
LOSERS
1. Nevsun | NSU-6.17% $2.28 |
2. Banro | BAA -4.22% $2.04 |
3. Paramount | PZG -2.76% $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:
Arianne Closes 2 Private Financing for Maximum Proceeds of $407,500 - More
- January 11, 2010 | Item | ShareThis
Indocan Resources Executes Letter of Intent With Thunder Bay Group - More
- January 11, 2010 | Item | ShareThis
Ur-Energy Updates its Hauber Project With Bayswater Uranium - More
- January 11, 2010 | Item | ShareThis
BCGold Corp. Grants Stock Options - More
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Update on the Proposed Transaction Between Metalline and Dome - More
- January 11, 2010 | Item | ShareThis
Xtierra commences drilling at Pinos gold project - More
- January 11, 2010 | Item | ShareThis
Great Panther Exceeds Production Target for 2009 With Record Fourth Quarter - "GREAT PANTHER SILVER LIMITED (TSX:GPR - News) (the "Company") is very pleased to report record 2009 production of 2,202,456 silver equivalent ounces ("Ag eq oz"), a 22% increase over 2008, and 6% higher than the target for 2009 of 2.07 million Ag eq oz. Total metal production for the year includes 1,456,830 ounces silver, 7,151 ounces gold, 871 tonnes lead, and 1,057 tonnes zinc." More
- January 11, 2010 | Item | ShareThis
Ashburton Receives Encouraging Results on Teels Lithium Prospect in Nevada - More
- January 11, 2010 | Item | ShareThis
Tirex Provides 2009 Exploration Summary - More
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International Royalty reiterates recommendation that shareholders reject Franco-Nevada's unsolicited offer - "International Royalty Corporation (NYSE-A:ROY, TSX: IRC) ("IRC") today reiterates that its board of directors has unanimously recommended that IRC shareholders REJECT the unsolicited offer from Franco-Nevada Corporation ("Franco-Nevada") through 7293275 Canada Inc., a wholly-owned subsidiary, to acquire any and all IRC common shares for C$6.75 per share (the "Franco-Nevada Offer")." More
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Bravo Reports Gold Recoveries from 87% to 92% in Metallurgical Test Work at Homestake Ridge - More
- January 11, 2010 | Item | ShareThis
Marathon Files Optimized Technical Report and Launches 2010 Work Program - More
- January 11, 2010 | Item | ShareThis
Gold Canyon Outlines Multi-Phase Exploration Program for Springpole Gold Project - More
- January 11, 2010 | Item | ShareThis
Claude Resources Inc. - Gold Production Increased by 12% During the Second Half of 2009 - "Claude Resources Inc. ("Claude" or the "Company") today reported that the Company produced approximately 14,300 ounces of gold in the fourth quarter and 28,500 ounces of gold in the second half of 2009. The increase in production represents a 12% improvement from the second half of 2008. Total 2009 production was approximately 46,800 ounces of gold." More
- January 11, 2010 | Item | ShareThis
Centurion Closes Non-Brokered Private Placement - More
- January 11, 2010 | Item | ShareThis
Minatura Gold Announces Closing of Acquisition of Colombian Gold Mining Assets and Zaragoza Project Drilling Program - More
- January 11, 2010 | Item | ShareThis
Pinnacle Receives New 43-101 Preliminary Economic Assessment Increasing Resources for the Silver Coin Gold Project - More
- January 11, 2010 | Item | ShareThis
Mindoro Resources Ltd.: Major Nickel Resource Potential for Mindoro in Philippines - More
- January 11, 2010 | Item | ShareThis
La Fortuna Gold Project Argentina - Drilling to Start - More
- January 11, 2010 | Item | ShareThis
Grayd Advances La India Gold Project From Grass Roots to Potential Producer; Announces 2010 Strategy - More
- January 11, 2010 | Item | ShareThis
Northern Shield Resources stakes 7 km long PGE target in Quebec. - More
- January 11, 2010 | Item | ShareThis
Ressources Appalaches: Drilling at the Dufferin Mine - More
- January 11, 2010 | Item | ShareThis
Petaquilla Minerals Ltd.: Commercial Production - More
- January 11, 2010 | Item | ShareThis
SLAM strikes high grade silver - More
- January 11, 2010 | Item | ShareThis
First Uranium Chairman, CEO and executive VP resign from Simmer & Jack Mines, Limited to focus solely on First Uranium - More
- January 11, 2010 | Item | ShareThis
Alto Group Holdings, Inc. Commences Exploration on the Alto-Ashanti Gold Project - More
- January 11, 2010 | Item | ShareThis
Olympus Exceeds Fourth Quarter Production Targets - More
- January 11, 2010 | Item | ShareThis
Mirasol Updates Joaquin Project Phase Three Drilling Results with Additional High Grade Silver Values - More
- January 11, 2010 | Item | ShareThis
A New Area And Style of Gold Mineralization Discovered by Inter-Citic 9 Kilometres West of The Dachang Main Zone - More
- January 11, 2010 | Item | ShareThis
EurOmax Commence Drilling 5 Kilometre Copper Zone at Kazandol - More
- January 11, 2010 | Item | ShareThis
Romarco expands 2010 Haile drill program - More
- January 11, 2010 | Item | ShareThis
Copler construction proceeds on schedule - "Solid progress is being made against the Copler development plan on all fronts and the start of mining during December was a seminal event for the Company. The volume of activity on site continues to increase and we are appreciative of the cooperation and working relationships with our construction and local community partners. Extra resources are being brought to bear where warranted to accelerate the schedule for the planned first gold pour in the fourth quarter of 2010." More
- January 11, 2010 | Item | ShareThis
Globex Options Parbec Gold Property to Savant - More
- January 11, 2010 | Item | ShareThis
Orex Expands Mineral Concessions at Coneto Project; Request for Proposals Issued for Diamond Drilling - More
- January 11, 2010 | Item | ShareThis
Savant Acquires Prime Gold Exploration Property Along the Prolific Cadillac Break - More
- January 11, 2010 | Item | ShareThis
Richview Shareholders Approve Amalgamation With Cadillac Subsidiary - More
- January 11, 2010 | Item | ShareThis
Quadra Production Results for the 4th Quarter 2009 Exceed Expectations at All Three Operations - More
- January 11, 2010 | Item | ShareThis
Cardero Receives Final Tranche of USD 30 Million in USD 100 Million Sale of Pampa de Pongo Iron Ore Deposit, Peru - More
- January 11, 2010 | Item | ShareThis
Metals Creek Resources Corp. Announces 6.76 G/T Gold Over 1 Meter and 5.44 G/T Gold Over 1 Meter at Porphyry Hill in Timmins, Ontario - More
- January 11, 2010 | Item | ShareThis
Delta Uranium Announces Additional Results in Athabasca - More
- January 11, 2010 | Item | ShareThis
Uranium Energy Corp Advances Permitting at Palangana and Goliad ISR Projects - More
- January 11, 2010 | Item | ShareThis
Heatherdale Ramps Up Drilling at High-Grade Niblack Project - More
- January 11, 2010 | Item | ShareThis
GWR Closes Further $44,256 Tranches of Private Placements - More
- January 11, 2010 | Item | ShareThis
CBR Gold Ramps Up Drilling at High-Grade Niblack Project - More
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East Asia Minerals Drills 1.64 g/t Gold Over 70.2 Metres Within 132.9 Metres Grading 1.01 g/t Gold at Miwah; Second Drill Rig Arrives - More
- January 11, 2010 | Item | ShareThis
Mustang Completes Private Placement - More
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Zincore Appoints New Manager of Investor Relations - More
- January 11, 2010 | Item | ShareThis
Titan Resources Completes Additional Work on Norgold Property; Assay Results Pending - More
- January 11, 2010 | Item | ShareThis
Rolling Rock Resources Corporation Plans Increased Private Placement - More
- January 11, 2010 | Item | ShareThis
Budget of US$18.5 Million for Back Forty Project Announced by HudBay and Aquila - More
- January 11, 2010 | Item | ShareThis
First Quantum Minerals Reports 2009 Copper Production of 373,900 Tonnes - More
- January 11, 2010 | Item | ShareThis
Thunder Mountain Gold Announces Haywood Securities Sponsorship, Terminates Kenai Letter of Intent - More
- January 11, 2010 | Item | ShareThis
First Quantum Minerals Ltd. and Kiwara PLC Announce Result of Court Meeting and General Meeting - More
- January 11, 2010 | Item | ShareThis
Centamin Egypt: First Gold Export and Design Throughput Achieved - More
- January 11, 2010 | Item | ShareThis
Avion Announces Record Production in Q4-21,300 Ounces - More
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Orosur Mining Inc. Grants Option to Gladiator Resources to Earn Up to 80% Interest in Iron Ore, Manganese Ore and Base Metals Prospects - More
- January 11, 2010 | Item | ShareThis
Bayswater Issues NI 43-101 Technical Report on Elkhorn Project - More
- January 11, 2010 | Item | ShareThis
Royal Mines and Minerals Corp. Joins Information Portal StockProfile.com - More
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Construction Under Way at $3 Billion Bi-National Mining Project in South America, an Industrial Info News Alert - More
- January 11, 2010 | Item | ShareThis
Novus Gold Corp.: Wide Gold Zone Identified by Drilling on REN Property in Northwest Territories - More
- January 11, 2010 | Item | ShareThis
Terra Ventures, Inc.: Wide Gold Zone Identified by Drilling on REN Property in Northwest Territories - More
- January 11, 2010 | Item | ShareThis
Chip Samples from Independent Study of African Queen's King Solomon Project Confirm the Company's Prior Findings and Point to Prospectivity - More
- January 11, 2010 | Item | ShareThis
International Wayside Gold Mines Ltd.: Mining Permit and Pre-Feasibility Received for the QR Mine-Mining Scheduled to Begin Feb 2010 - More
- January 11, 2010 | Item | ShareThis
Greystar Resources Receives C$43.8 Million From Warrant Exercises - More
- January 11, 2010 | Item | ShareThis
MERCATOR GOLD plc: Copper Flat Project Update - More
- January 11, 2010 | Item | ShareThis
Alto Group Holdings, Inc. Announces Execution of Definitive Agreement to Acquire West African Gold Concessions - More
- January 11, 2010 | Item | ShareThis
Cigma Metals Corporation Is Pleased to Announce the Sale of Its Wholly Owned Kazakhstan Subsidiary - More
- January 11, 2010 | Item | ShareThis
Bayswater Signs Amending Agreements Regarding Reno Creek - More
- January 11, 2010 | Item | ShareThis
Trueclaim Exploration Inc. Announces Preliminary Results From Its Phase I Scadding Drill Program - More
- January 11, 2010 | Item | ShareThis
TSX Conditionally Approves Issuance of Yukon-Nevada Gold Corp. Inducement Warrants - More
- January 11, 2010 | Item | ShareThis
SNS Silver Signs Updated Exploration Earn in Agreement on Crescent Silver Mine - More
- January 11, 2010 | Item | ShareThis
SNS Silver Corp. Closes Second Flow-Through Private Placement - More
- January 11, 2010 | Item | ShareThis
Freewest Resources, Spider Resources, & KWG Resources Encounter Consistent Chromite Mineralization at Big Daddy; Rare Nickel Mineral Discovered - More
- January 11, 2010 | Item | ShareThis
Great Quest Completes Sale of Kenieba Concessions for Cash and Shares of $4.35 Million and a Production Bonus of Up to $3.50 Million - More
- January 11, 2010 | Item | ShareThis
Palladon Ventures Files Arbitration Regarding Its Sales Agreement for the Purchase of Iron Ore - More
- January 11, 2010 | Item | ShareThis
KWG announces a private placement - More
- January 11, 2010 | Item | ShareThis
Macusani Yellowcake Completes Private Placement - More
- January 11, 2010 | Item | ShareThis
Avion Completes Acquisition of Inferred Resource of 324,000 Ounces Au - More
- January 11, 2010 | Item | ShareThis
NovaGold Completes Ambler Purchase - "NovaGold Resources Inc. (TSX:NG - News)(AMEX:NG - News) today announced that it has completed its purchase of 100% of the Ambler property, which hosts the high-grade copper-zinc-gold-silver Arctic deposit." More
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First Majestic Silver Corp.: Production Increases by 18%, Reaches New Record - "First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR - News)(OTCQX: FRMSF)(Frankfurt:FMV - News) (WKN: A0LHKJ) is pleased to announce that production in the fourth quarter ending December 31, 2009 increased to 1,249,568 equivalent ounces of silver representing a 15% increase over the prior quarter production and 18% over the fourth quarter of 2008." More
- January 11, 2010 | Item | ShareThis
Aurizon announces 2009 production results and future production plans - "Gold production from Aurizon's 100% owned Casa Berardi mine for the year ended December 31, 2009, totalled 159,261 ounces from the processing of 688,676 tonnes at an average grade of 7.8 grams of gold per tonne. Recoveries for the year averaged 92.6%. Gold production was ahead of the Company's 2009 guidance of 150,000 to 155,000 ounces and it is anticipated that total cash costs per ounce will be in line with the Company's guidance of US $414 per ounce for 2009." More
- January 11, 2010 | Item | ShareThis
Goldcorp Delivers Record 2009 Gold Production; Peer-Leading Five-Year Growth Profile Extended - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) today announced record gold production for the 2009 year of over 2.4 million ounces, exceeding guidance that had been previously revised upward from 2.3 million ounces. Fourth quarter 2009 gold production totaled 601,000 ounces." More
- January 11, 2010 | Item | ShareThis
Seabridge Gold Reports Updated Resource Estimate for KSM Project - "Seabridge Gold (TSX:SEA - News)(AMEX:SA - News) announced today that an updated, independent National Instrument 43-101 mineral resource estimate for its KSM project has increased measured and indicated gold resources by 13% to 38.9 million ounces and copper resources by 17% to 10.0 billion pounds. KSM's Mitchell zone (at 33.7 million ounces of measured and indicated gold resources) now ranks as the largest gold deposit ever found in Canada." More
- January 11, 2010 | Item | ShareThis
Allied Nevada Vortex Drilling Indicates Discovery of High-Grade Feeder Zones Intersecting 47 Meters at 0.55 g/t Gold and 578 g/t Silver - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV - News)(AMEX:ANV - News) is pleased to announce highlights from three recently drilled holes in the area of the Vortex zone at its wholly owned Hycroft mine, located near Winnemucca, Nevada. Core hole 09-3708 intersected high-grade mineralization highlighted by 47 meters grading 0.55 grams per tonne ("g/t") gold and 578 g/t silver (11.21 g/t gold equivalent(1)) with intervals of veins and visible disseminated silver pyrargyrite within a pervasively silicified zone." More
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Fronteer Development Group Inc.: Sandman Gold Project on Track to Potential Production Decision by June 2011 - "Fronteer Development Group Inc. (TSX:FRG - News)(AMEX:FRG - News) announces today that results from ongoing exploration and development work by Newmont USA Limited ("Newmont"), demonstrate Fronteer's Sandman project is one of Nevada's highest grade gold projects nearing a production decision. Newmont has met its annual earn-in obligations and has continued to advance the project, completing more than 12,000 metres of drilling since 2008." More
- January 11, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 11 January, 2010 | |
