-- Posted 20 January, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1112.25 | -$27.45 |
Silver | $17.92 | -$0.86 |
XAU | 167.29 | -3.80% |
HUI | 422.43 | -4.61% |
GDM | 1260.44 | -4.41% |
JSE Gold | 2337.45 | -45.50 |
USD | 78.38 | +0.93 |
Euro | 140.99 | -1.93 |
Yen | 109.56 | -0.18 |
Oil | $77.62 | -$1.40 |
10-Year | 3.659% | -0.048 |
T-Bond | 117.96875 | +0.8125 |
Dow | 10603.15 | -1.14% |
Nasdaq | 2291.25 | -1.26% |
S&P | 1138.04 | -1.06% |
The Metals:
Gold traded around 1% lower in Asia and London before it fell off even further in New York and ended not far from its late morning low of $1107.07 with a loss of 2.41%. Silver followed a similar pattern and ended near its low of $17.78 with a loss of 4.58%.
Euro gold fell to about €789, platinum lost $26 to $1616.50, and copper fell over 9 cents to about $3.35.
Gold and silver equities fell almost 6% by late morning before they rebounded a bit in afternoon trade, but they still ended with about 4% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Building Permits | Dec | 653K | 580K | 589K |
Housing Starts | Dec | 557K | 572K | 580K |
PPI | Dec | 0.2% | 0.0% | 1.8% |
Core PPI | Dec | 0.0% | 0.1% | 0.5% |
FHA Raises Down Payments, Premiums Amid Mortgage Delinquencies Bloomberg
Bernanke Seeks to Defuse Criticism Over AIG With Call for Audit Bloomberg
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/16 expected at 440,000 and at 10AM are Leading Economic Indicators for December expected at 0.7% and the Philadelphia Fed survey for January expected at 18.8.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on worries over energy demand after China tightened up its credit practices. “The China Banking Regulatory Commission has asked several commercial banks to stop issuing new loans for the rest of January, the state-run China Securities Journal reported, citing several sources. China's top banking regulator, Liu Mingkang, denied the report. But he said Chinese banks were expected to issue few loans this year than last year. The report follows several tightening measures by the Chinese government earlier this month.”
The U.S. dollar index rose versus the euro after stronger than expected economic data in the US countered recently weaker economic reports in Europe.
Treasuries rose as the Dow, Nasdaq, and S&P fell over 1% on worries over the banks and tighter Chinese lending practices.
Among the big names making news in the market today were Wells Fargo, Lehman Brothers, AMR, Morgan Stanley, Bank of America, and State Street.
The Commentary:
“Dear CIGAs,
Due to the Republican victory in Massachusetts yesterday, the general commentary on F-TV is that the USA looks really good. The MOPE on Greece is going wild.
The dollar is no safe haven and will not guarantee the maintenance of buying power.
The large purchases by non US entities of US Treasuries in the TIC report smells like Limburger cheese. The US dollar economic recovery is nothing more than pixie dust.
To sustain a US economic recovery, there first needs to be an economic recovery to sustain.
Unemployment now becomes an increasing concern for both parties.
The Fed is locked into QE and in all probability is supporting the US Treasury market via the Caymans and other countries internationally.
Buy the dollar and sell gold? You have to be kidding. That is the madness of the crowd and the actions of the Crimex in paper gold.”- Jim Sinclair, JSMineset.com
“Dear Friends,
The Treasury International Capital Flows data covering November 2009 (remember it is about two months behind the current month) reveals a huge surge in capital flows predominantly as a result of a massive buying binge in US Treasuries. I keep data going back to 2005 and November’s Treasury buying was the largest for any month through this entire time frame. As a matter of fact, prior to November’s huge number, the previous high in Treasury purchases occurred during the month of June 2009 when $100 billion worth of them were purchased on net. November topped that by another $18 billion.
Strangely enough, when you look into the breakdown of the Treasury buying by country, we see a decrease in the biggest buyer of US Treasuries, namely China. They sold about $9 billion worth. Japan compensated for that by buying another $11.4 billion. The biggest increase however came out of Great Britain where some $47 billion were added. Keep in mind that London is often the primary conduit through which foreign entities affect purchases of US Treasuries for the purpose of secrecy as that information generally does not get revealed until the Treasury revises the TIC data in June of each year. Call me cynical but we really have no idea who actually bought all those Treasuries through London offices. In times past the revisions have seen many of those purchases being credited to China but that does not guarantee anything of the sort this time around, especially with China being a net seller this month. WE also have a decent sized increase in Treasury buying out of those Caribbean based banks.
Were it not for the binge in Treasury buying, the Agency, Corporate Debt and Equity categories would not have been sufficient to fund the negative balance of trade.
This of course will be spun as a vote of confidence for the US Dollar as the spinmeisters will step up and proclaim that the world still has a strong appetite for US debt. Personally I think the Fed is buying the Treasuries.
Look closely at the rate of change of buying chart and you will see the steep drop off in the RATE OF CHINESE TREASURY purchases.”- Dan Norcini, More at JSMineset.com
The Statistics:
Activity from: 1/19/2010
Gold Warehouse Stocks: | 9,894,412 | +31,955 |
Silver Warehouse Stocks: | 113,246,740 | +702,061 |
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 | 1111.922 | 35,749,401 | US$40,038m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 124.09 | 3,988,930 | US$4,426m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.37 | 491,746 | US$548m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 52.52 | 1,688,685 | US$1,916m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,982 | US$6m |
Note: Change in Total Tonnes from Friday’s data: SPDR subtracted 0.914 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.30 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,339.19 - No change from yesterday’s data.
The Miners:
Apollo Gold’s (AGT) assay results, Keegan’s (KGN) assay results, Alexco’s (AXU) priced offering, and Silver Standard’s (SSRI) President resignation were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Tanzanian Royalty | TRE +1.99% $4.10 |
2. Seabridge | SA +1.46% $26.38 |
3. Gold Reserve | GRZ +0.75% $1.34 |
LOSERS
1. Alexco | AXU -11.38% $3.35 |
2. Silver Standard | SSRI -8.93% $21.10 |
3. Mines MGMT | MGN -8.79% $2.80 |
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:
Moneta announces Fall 2009 drill results - More
- January 20, 2010 | Item | ShareThis
Cogitore Resources Resumes Drilling on Scott Lake and Estrades-Caribou Projects - More
- January 20, 2010 | Item | ShareThis
Wallbridge Mining Announces Exercise of Pre-Emptive Rights to Acquire Duluth Stock - More
- January 20, 2010 | Item | ShareThis
Uranium Resources Inc. Welcomes New Board Member - More
- January 20, 2010 | Item | ShareThis
World Ventures Inc. Signs Letter of Intent with Golden Dawn Minerals to Joint Venture Triton Gold Prospect, MacMurchy Township, Ontario, Canada - More
- January 20, 2010 | Item | ShareThis
Tirex Resources Drill Update - More
- January 20, 2010 | Item | ShareThis
Artha Resources Corporation: Rare Earth Properties Staked in Argentina - More
- January 20, 2010 | Item | ShareThis
Grenville Gold Corporation: Extensive Exploration Program Recommended for Silveria NI43-101 Resource Estimate - More
- January 20, 2010 | Item | ShareThis
Condor Resources Inc.: Early Warrant Expiry Triggered - More
- January 20, 2010 | Item | ShareThis
New Gold Discovery: Globex Acquires Large Nova Scotia Land Package - More
- January 20, 2010 | Item | ShareThis
Brazauro Amends and Clarifies Tocantinzinho Royalty - More
- January 20, 2010 | Item | ShareThis
Vault Intersects 5.3 gAu/t over 5.8 m and 25. 2 gAu/t over 0.8 m at Boundary Zone - More
- January 20, 2010 | Item | ShareThis
Bolero announces intention to make a take-over bid for Gryphon Gold Corporation - More
- January 20, 2010 | Item | ShareThis
International Wayside Gold Mines to Change Name to Barkerville Gold Mines Ltd. - More
- January 20, 2010 | Item | ShareThis
Canada Lithium intersects higher-grade lithium and confirms depth potential of Quebec Lithium Project - More
- January 20, 2010 | Item | ShareThis
EGM Requisition - More
- January 20, 2010 | Item | ShareThis
GoldTrain to Acquire Additional Exploration Property in Missinabie and Appoints New Vice-President Exploration - More
- January 20, 2010 | Item | ShareThis
Trevali Intersects Multiple Zones of High-Grade Mineralization at Magistral North Deposit - More
- January 20, 2010 | Item | ShareThis
Sheltered Oak Resources Reports First Assays from Phase 4 Drilling - More
- January 20, 2010 | Item | ShareThis
High-Grade Gold Veins Discovered East of Main Zone in Klondex's 2009 Exploration Program - More
- January 20, 2010 | Item | ShareThis
Argentex advances drill program at Pinguino, Santa Cruz - More
- January 20, 2010 | Item | ShareThis
African Gold Group, Inc., Multi-Phase Work Program Focused on Surpassing 1,000,000 Oz Gold Threshold Has Commenced at Kobada, Mali - More
- January 20, 2010 | Item | ShareThis
Jazz announces 2010 exploration program - More
- January 20, 2010 | Item | ShareThis
Golden Share Intersects 88 m of Altered Felsic Intrusives With Grades Up to 2.88 g/t Au Over 0.80 m on Malartic Lakeshore - More
- January 20, 2010 | Item | ShareThis
Constantine Reports 4.75 Million Tonne Initial Resource at Palmer VMS Project, Alaska - More
- January 20, 2010 | Item | ShareThis
Hana Mining RC Drilling in Banana Zone Intersects 1.21% Cu and 16.8 g/t Ag Over 15 Metres in South Limb - More
- January 20, 2010 | Item | ShareThis
Cadillac Ventures Pays Out Secured Debt - More
- January 20, 2010 | Item | ShareThis
Pacific Bay Minerals Ltd.: Haskins-Reed Core Yields 66 Meters 0.11% Tungsten and 43 Meters 0.05% MoS2; Also, New Gold Target Identified - More
- January 20, 2010 | Item | ShareThis
Merrex-Drilling Commences at Jubilee - More
- January 20, 2010 | Item | ShareThis
Chrysos Drilling Commences at Jubilee - More
- January 20, 2010 | Item | ShareThis
San Gold's Rice Lake Mine Continues to Evolve With Higher Production Grades and Significant New High Grade Discoveries - More
- January 20, 2010 | Item | ShareThis
Crosshair Intersects 0.20% Vanadium Over 43 Metres - More
- January 20, 2010 | Item | ShareThis
Red Back Mining Inc.: Greenschist Zone Continues to Expand - More
- January 20, 2010 | Item | ShareThis
USCorp Junior Gold and Silver Exploration Company Update on Financing Negotiations - More
- January 20, 2010 | Item | ShareThis
Armistice Resources Announces Mill Zone Drilling on McGarry Mine Property Finds High-Grade Gold Values; Confirms Structure and Expands Exploration Potential - More
- January 20, 2010 | Item | ShareThis
Abacus Accelerates Environmental and Socio-Economic Studies - More
- January 20, 2010 | Item | ShareThis
Dr. Matt Ball, Ph.D., P.Geo., Accepts Appointment as Bralorne Board Member - More
- January 20, 2010 | Item | ShareThis
Purepoint Uranium Group Inc: Drilling Commences on Osprey Conductor at Red Willow Project - More
- January 20, 2010 | Item | ShareThis
American Lithium Minerals Acquires Borate Hills Lithium Projects - More
- January 20, 2010 | Item | ShareThis
Colt Resources Inc. Reports on Diamond Drilling Results on the Tabuao Tungsten Project Northern Portugal - More
- January 20, 2010 | Item | ShareThis
Treasury Metals Intersects Additional High-Grade Gold in Western Area of Main Zone, Goliath Gold Project - More
- January 20, 2010 | Item | ShareThis
Uranium Energy Corp Announces the Company's Palangana ISR Uranium Project Now Fully Permitted - More
- January 20, 2010 | Item | ShareThis
Great Western Minerals Group Grants Toyota Tsusho Corporation Extension on Letter of Intent - More
- January 20, 2010 | Item | ShareThis
Environmental Authorization Unexpectedly Withdrawn from First Uranium's MWS Future Tailings Storage Facility - More
- January 20, 2010 | Item | ShareThis
Continuation of the Corporation to Luxembourg and Change of Name to Northland Resources S.A. - More
- January 20, 2010 | Item | ShareThis
Celtic Minerals Ltd. - Update - More
- January 20, 2010 | Item | ShareThis
Orocobre and Toyota Tsusho Announce JV to Develop Argentine Lithium Project - More
- January 20, 2010 | Item | ShareThis
International Minerals Releases New Drill Results at Recently Acquired Inmaculada Project - More
- January 20, 2010 | Item | ShareThis
Strait Gold Closes Private Placement - More
- January 20, 2010 | Item | ShareThis
Rocher Deboule Announces Change of Company Name to American Manganese Inc. - More
- January 20, 2010 | Item | ShareThis
Mantis Mineral Corp. - More
- January 20, 2010 | Item | ShareThis
Global Atomic Fuels Corporation: Corporate Update, January 2010 - More
- January 20, 2010 | Item | ShareThis
Andean Resources: New High-Grade Mariana Norte Discoveries at Cerro Negro - More
- January 20, 2010 | Item | ShareThis
Alto Group Reports on Initial Chief Vein Assays at Alto-Ashanti Project in Ghana - More
- January 20, 2010 | Item | ShareThis
Nemaska to List on TSX Venture Exchange - More
- January 20, 2010 | Item | ShareThis
Pengram Corporation Signs an Agreement to Acquire an Option on the Manado Gold Property - More
- January 20, 2010 | Item | ShareThis
Cortez Enters into Option Agreement for Yukon Property - More
- January 20, 2010 | Item | ShareThis
Mawson commences drilling at the Duobblon uranium project in Sweden - More
- January 20, 2010 | Item | ShareThis
Virgin Metals Announces a Corporate Update and a Change to Its Board of Directors - More
- January 20, 2010 | Item | ShareThis
Breakwater Resources Ltd. Initiates Development at Langlois Mine - More
- January 20, 2010 | Item | ShareThis
Trelawney Enters Into Agreement to Acquire Interest in Hiawatha Property - More
- January 20, 2010 | Item | ShareThis
Cameco Provides Dates for Q4 Results and Conference Call - More
- January 20, 2010 | Item | ShareThis
Solitaire Minerals Corp. Closes Private Placements - More
- January 20, 2010 | Item | ShareThis
Blue Note Completes its Acquisition of X-Ore - More
- January 20, 2010 | Item | ShareThis
Mandalay Resources Corporation announces new off-take agreement for Costerfield and operational update - More
- January 20, 2010 | Item | ShareThis
Alexco Announces Terms of Equity Financing - "Alexco Resource Corp. (TSX:AXR, NYSE-AMEX:AXU) ("Alexco" or the "Company") is pleased to announce that in connection with its overnight marketed public offering previously announced on January 19, 2010 (the "Offering"), it has entered into an underwriting agreement with Canaccord Financial Ltd. and Cormark Securities Inc. (the "Underwriters") to sell 7,350, 000 common shares in the Company ("Common Shares") at a price of C$3.50 per Common Share to raise gross proceeds of C$25,725,000 pursuant to a short form prospectus under the multi-jurisdictional disclosure system." More
- January 20, 2010 | Item | ShareThis
Apollo Gold Identifies Continuity of Gold Mineralization from Additional Drill Assay Results from its Grey Fox Project - "Apollo Gold Corporation (“Apollo”) (TSX: APG - News) (NYSE Amex: AGT) announces additional positive assay results from six drill holes at its Grey Fox Project, showing the continuity of multiple zones of shallow gold mineralization. Results are pending from the remaining 23 holes completed as part of a 53-hole, 9,936-meter drilling program in 2009 at the prospective Grey Fox and Pike River properties, which are adjacent with Apollo’s Black Fox gold mine in Timmins, Ontario." More
- January 20, 2010 | Item | ShareThis
Keegan Receives Excellent Results From Northern Stepout Drilling At the Esaase Gold Project - "Keegan Resources Inc. (TSX:KGN - News)(AMEX:KGN - News) ("Keegan") is pleased to announce new assay results from its Esaase property drilling program located in southwest Ghana. Intercepts with exceeding 10 g/t meter Au were produced from 23 drill holes located up to 1 km north of the existing resource. Intercept highlights include 25 meters of 2.52 g/t Au, 17 meters of 3.61 g/t Au, 18 meters of 3.02 g/t Au, and five meters at 6.66 g/t Au. These results will be incorporated into the existing resource model and used in the planning for the next stage of drilling in this area. Please see www.keeganresources.com for a drill hole location map." More
- January 20, 2010 | Item | ShareThis
Robert Quartermain Resigns as President and CEO of Silver Standard - "The Board of Directors and I have agreed that it would be an appropriate time for me to step down as an executive of the Company. I have had an exceptional and enjoyable career at Silver Standard that has spanned 25 years as we have created a major silver company from a small exploration company." More
- January 20, 2010 | Item | ShareThis
Alexco Announces Equity Financing - "The Offering will be priced in the context of the market with final terms of the Offering to be determined at the time of pricing. The Company intends to use the net proceeds of the Offering at the Bellekeno mine which it's currently developing, for construction backstop finance to mitigate capital cost overrun risk and for the mine's initial working capital finance, and to further explore and develop the Company's other properties located in the Keno Hill silver district in Canada's Yukon Territory." More
- January 20, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 20 January, 2010 | |
