-- Posted 3 February, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1111.25 | -$5.65 |
Silver | $16.34 | -$0.37 |
XAU | 154.76 | -1.14% |
HUI | 393.13 | -0.93% |
GDM | 1176.68 | -1.06% |
JSE Gold | 2231.02 | -11.27 |
USD | 79.38 | +0.38 |
Euro | 139.00 | -0.65 |
Yen | 109.92 | -0.72 |
Oil | $76.98 | -$0.25 |
10-Year | 3.703% | +0.068 |
T-Bond | 117.375 | -1.03125 |
Dow | 10270.55 | -0.26% |
Nasdaq | 2190.91 | +0.04% |
S&P | 1097.28 | -0.55% |
The Metals:
Gold climbed higher in Asia and rose to over $1120 in early London trade, but it then fell back of for most of the rest of the day and ended with a loss of 0.51%. Silver neared $17 in Asia before it also fell back off in London and New York and ended with a loss of 2.21%.
Euro gold remained at about €799, platinum stayed at $1573.50, and copper fell over 11 cents to about $2.97.
Gold and silver equities saw slight gains at the open, but they then fell back off for most of the rest of trade and ended with about 1% losses.
The Economy:
Report | For | Reading | Expected | Previous |
ADP Employment | Jan | -22K | -30K | -61K |
ISM Services | Jan | 50.5 | 51.0 | 49.8 |
Treasury expects to hit debt limit in February Yahoo
Mortgage demand at six-week highs on refinance wave Reuters
Bernanke voices economic concerns as he's sworn in Yahoo
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/30 expected at 455,000, fourth quarter Productivity expected at 6.5%, and Unit Labor Costs expected at -3.4%. At 10AM is the Factory Orders report for December expected at 0.5%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended lower after the Energy Information Administration reported that crude inventories surprisingly rose 2.3 million barrels, gasoline inventories fell 1.3 million barrels, and distillates fell 948,000 barrels.
The U.S. dollar index rose as traders looked ahead to tomorrow’s European Central Bank and Bank of England policy meetings and Friday’s jobs data.
Treasuries fell on worries over the market’s ability to absorb the huge amount of supply as it was announced today that the government will be selling a record high amount of debt next week. “The refinancing will be comprised of $40 billion of three-year notes, $25 billion of 10-year notes and $16 billion of 30-year bonds.”
The Dow, Nasdaq, and S&P traded mostly slightly lower on mildly disappointing economic data.
Among the big names making news in the market today were Borders, Time Warner, AOL, Pfizer, Lazard, Toyota, and Ironwood.
The Commentary:
“Tuesday was pretty much a 'nothing' day as far as gold and silver were concerned... and it appeared that the bullion banks weren't about to tolerate any price rise in either metal during New York trading yesterday.
I was delighted at the short covering that occurred in Monday's rally. I've been looking for that sort of move for a quite a while... and its been a long time coming. As I mentioned yesterday, it certainly wasn't the technical funds buying on Monday, as they won't show up as buyers until the price breaks above the 50-day moving average... so it must have been the bullion banks themselves. In our usual daily telephone conversation, Ted Butler heartily agreed. We're both hoping for more of the same as the days and weeks pass. But all bets will be off on Friday morning, as that's when the jobs numbers are reported... and the U.S. bullion banks are always ready to hammer the price when these numbers are released.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
GATA Posts:
Gene Arensberg: Comex commercials covering gold shorts
GATA consultant Dimitri Speck writes book about gold price suppression
Geithner says he invented 'strong dollar policy' in 1995
The Statistics:
Activity from: 2/2/2010
Gold Warehouse Stocks: | 9,922,989 | +39,271 |
Silver Warehouse Stocks: | 111,669,964 | -250,135 |
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$39,853m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 121.63 | 3,908,731 | US$4,339m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.35 | 491,672 | US$548m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 52.52 | 1,688,518 | US$1,849m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,981 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.4 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.30 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,355.98 - No change from yesterday’s data.
The Miners:
Taseko’s (TGB) review process, Golden Star’s (GSS) new directors, Rubicon’s (RBY) drill results, Exeter’s (XRA) drill results, ECU Silver’s (ECU.TO) environmental license, and Coeur’s (CDE) discovery were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Rubicon | RBY +5.56% $4.56 |
2. Alexco | AXU +3.56% $3.20 |
3. Newmont | NEM+1.33% $45.87 |
LOSERS
1. Northgate | NXG-4.74% $2.61 |
2. Jaguar | JAG -3.30% $9.95 |
3. ITH | THM-3.27% $6.22 |
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:
Stelmine to Acquire Properties in Direct Vicinity of Rare Metals and High Grade Lithium Discovery Done by First Gold Ressources - More
- February 03, 2010 | Item | ShareThis
Colt Resources Inc. Intersects 0.93% WO3 over 13.60 m on its Tabuao Tungsten Project Northern Portugal - More
- February 03, 2010 | Item | ShareThis
First Gold Exploration Inc.: 341 ppm (g/t) Ta2O5 Over 6.4 Metres in Hole LR-09-03 - More
- February 03, 2010 | Item | ShareThis
Merc Announces Election of New Director - More
- February 03, 2010 | Item | ShareThis
Prophecy Reports M&I resource of 22.9 million Tons at 0.57% Ni (263 Million pounds of nickel) at Lynn Lake deposit in Manitoba - More
- February 03, 2010 | Item | ShareThis
Dia Bras Releases Fourth Quarter 2009 Results - More
- February 03, 2010 | Item | ShareThis
Lincoln Mining announces Pine Grove drill results - More
- February 03, 2010 | Item | ShareThis
Canadian Government Moving Forward With Prosperity Review Process - "Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") welcomes the decision by the Federal Review Panel to move forward with public hearings on the proposed $800 million Prosperity Gold-Copper mine near Williams Lake, BC." More
- February 03, 2010 | Item | ShareThis
NQ Exploration Inc.: Alexander Banks Appointed to the Board of Directors - More
- February 03, 2010 | Item | ShareThis
Strait Gold Continues Phase 1 Exploration at Alicia - More
- February 03, 2010 | Item | ShareThis
Katanga Mining Invests in DRC Agricultural Projects and Will Not Be Adversely Affected by Recent Export Restrictions - More
- February 03, 2010 | Item | ShareThis
Coronado's Underground Drill Program Proves an In-House Estimate of 18,000 Tons Averaging .481 oz/t Gold; System is Open at Depth - More
- February 03, 2010 | Item | ShareThis
Kirrin Resources Announces $200,000 Private Placement - More
- February 03, 2010 | Item | ShareThis
Probe Mines Announces Closing of $250,000 Non-Brokered Private Placement - More
- February 03, 2010 | Item | ShareThis
Geodex Reports New Tungsten Discovery on Nashwaak Property, New Brunswick - More
- February 03, 2010 | Item | ShareThis
Golden Phoenix Reports 39 Feet Grading 0.12 opt Gold at the Mineral Ridge Gold Property, Nevada - More
- February 03, 2010 | Item | ShareThis
Gold Summit Files New Monte Cristo NI 43-101 Resource Report - More
- February 03, 2010 | Item | ShareThis
ECU Silver Receives Environmental License for Current and Future Operations - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to report that its Mexican operating unit has received a "Licencia Ambiental Unica" (the LAU), effectively, a unified environmental license." More
- February 03, 2010 | Item | ShareThis
American Bonanza Gold Corp.: Copperstone Positive Feasibility Results - More
- February 03, 2010 | Item | ShareThis
Gold Resource Corporation Produces First Concentrates From El Aguila Mill - More
- February 03, 2010 | Item | ShareThis
Puget Announces London-Zurich Institutional Road Show and Attendance at 2010 London Metal Exchange's Pre-Launch of Cobalt Trading - More
- February 03, 2010 | Item | ShareThis
Oriental Minerals Inc.: Corporate Update - More
- February 03, 2010 | Item | ShareThis
Evolving Gold Releases Final 23 Holes at Rattlesnake Hills, WY Project - More
- February 03, 2010 | Item | ShareThis
Teryl Resources Announces Approval of US$1.5 Million 2010 Exploration Budget for the Gil Joint Venture Gold Claims by Kinross Gold Corporation - More
- February 03, 2010 | Item | ShareThis
HudBay Announces 2009 Production and 2010 Outlook - More
- February 03, 2010 | Item | ShareThis
Sultan Minerals Anticipates Significant Lead Zinc Resource Estimate for Its Jersey Emerald Property, BC - More
- February 03, 2010 | Item | ShareThis
TintinaGold Completes $5 Million Private Placement - More
- February 03, 2010 | Item | ShareThis
Metals Creek Resources Corp. Intersects High Grade Mineralization at Naybob South Zone in Timmins, Ontario - More
- February 03, 2010 | Item | ShareThis
San Anton Announces Business Combination With Kings Minerals - More
- February 03, 2010 | Item | ShareThis
Merrex 2010 Resource Increases Grade and Establishes Indicated Resource at Siribaya - More
- February 03, 2010 | Item | ShareThis
American Lithium Minerals Closes Gold Summit Transaction - More
- February 03, 2010 | Item | ShareThis
Mazorro Resources Provides Update on Congo Exploration Permits - More
- February 03, 2010 | Item | ShareThis
Renowned Geological Expert to Be Midlands' Technical Advisor on Sian/Praso, Ghana - More
- February 03, 2010 | Item | ShareThis
Colossus Minerals Announces Updated Technical Report - More
- February 03, 2010 | Item | ShareThis
Crosshair Commences Drilling at Golden Promise - More
- February 03, 2010 | Item | ShareThis
Calibre Mining Trenches 4.2 Metres of 3.49 G/T Gold at La Luna - More
- February 03, 2010 | Item | ShareThis
Deutsche starts Kinross Gold, Newmont Mining with buy - More
- February 03, 2010 | Item | ShareThis
Malaga Inc. to receive US$ 2.5 million from recycling copper-silver rich mine tailings from Pasto Bueno - More
- February 03, 2010 | Item | ShareThis
San Gold Begins Development of the 007 Deposit as New Drill Results Demonstrate High Grade Features and Continuity of New Mine - More
- February 03, 2010 | Item | ShareThis
Rusoro Announces Management Change - More
- February 03, 2010 | Item | ShareThis
Thundermin and Cornerstone Announce That A $1,500,000 Diamond Drilling Program has Commenced on the Little Deer Copper Property, Newfoundland - More
- February 03, 2010 | Item | ShareThis
Drilling Resumes on Redstar's High-Grade Gold Discovery in Red Lake - More
- February 03, 2010 | Item | ShareThis
VG Gold Paymaster Results, Timmins, Ontario - More
- February 03, 2010 | Item | ShareThis
Capstone Commences 2010 Exploration Program at Minto Copper-Gold Mine - More
- February 03, 2010 | Item | ShareThis
Central Resumes Drilling at Red Lake, Ontario - More
- February 03, 2010 | Item | ShareThis
Golden Star Appoints Two New Directors - "Golden Star Resources Ltd. (TSX:GSC - News)(AMEX:GSS - News)(GSE: GSR) announced today that Mr. Robert E. Doyle and Mr. Christopher M.T. Thompson have joined the Board of Directors effective immediately." More
- February 03, 2010 | Item | ShareThis
More High-Grade Gold at Rubicon's F2 Gold Zone, Red Lake, Ontario - "Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-AMEX) is pleased to provide an update of diamond drilling from its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. New drill holes have intersected numerous high-grade and broad gold-bearing intercepts which further expand the F2 Gold System where approximately 100,000 metres of drilling have been completed to date (see news releases since March 12, 2008 and www.rubiconminerals.com for details). Ongoing exploration is part of a 158,000 metre drill program to test and infill a 1200-metre by 1600-metre target area, referred to as the '9X drill plan'. Significant new drill results are summarized below and all new results are presented in Table 1 and Figures 1 and 2." More
- February 03, 2010 | Item | ShareThis
Exeter Continues to Intersect Bonanza Grades at Cerro Moro - "Exeter Resource Corporation (NYSE-Amex:XRA, TSX:XRC, Frankfurt: EXB - "Exeter" or the "Company") is pleased to report further high grade to bonanza grade results from in-fill drilling at Cerro Moro, Santa Cruz Province, Argentina. Of 48 diamond drill holes assayed, 28 holes returned significant results, including 12 with very high grades. Most notable was MD644 with 5.38 metres (17.7 feet) at 149.9 grams per tonne (4.35 oz/ton) gold equivalent*." More
- February 03, 2010 | Item | ShareThis
Coeur Reports Discovery of New Vein System at Kensington Mine - "Coeur d’Alene Mines Corporation (NYSE:CDE - News)(TSX:CDM - News)(ASX:CXC - News) today announced the discovery of a new high-grade vein system at its Kensington Gold Mine, which is scheduled to commence production in the third quarter of 2010 at the rate of approximately 120,000 ounces of gold annually." More
- February 03, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 3 February, 2010 | |
