-- Posted 4 February, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1062.90 | -$48.35 |
Silver | $15.40 | -$0.94 |
XAU | 146.41 | -5.40% |
HUI | 369.90 | -5.91% |
GDM | 1110.25 | -5.65% |
JSE Gold | 2116.46 | -114.56 |
USD | 79.92 | +0.54 |
Euro | 137.39 | -1.52 |
Yen | 112.44 | +2.52 |
Oil | $73.14 | -$3.84 |
10-Year | 3.610% | -0.093 |
T-Bond | 118.78125 | +1.40625 |
Dow | 10002.18 | -2.61% |
Nasdaq | 2125.42 | -2.99% |
S&P | 1063.11 | -3.11% |
The Metals:
Gold and silver traded just slightly lower in Asia and London before they both fell off markedly in New York trade and gold ended near its low of $1060.03 with a loss of 4.35% while silver ended near its low of $15.29 with a loss of 5.75%.
Euro gold fell to about €772, platinum lost $69.50 to $1504, and copper fell over 9 cents more to about $2.88.
Gold and silver equities fell over 5% by late morning and remained near their lows into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 1/30 | 480K | 455K | 472K |
Productivity | Q4 | 6.2% | 6.5% | 7.2% |
Unit Labor Costs | Q4 | -4.4% | -3.5% | -1.5% |
Factory Orders | Dec | 1.0% | 0.5% | 1.0% |
Mortgage Rates on 30-Year U.S. Loans Rise to 5.01% Bloomberg
Tomorrow at 8:30AM EST brings January’s jobs data and at 3PM is Consumer Credit for December expected at -$10.0 billion. Nonfarm Payrolls are expected at 15,000, the Unemployment Rate is expected at 10.0%, the Average Workweek is expected at 33.2, and Hourly Earnings are expected at 0.2%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell almost 5% on a bleak demand outlook as renewed worries over sovereign debt and poor jobs data sent the U.S. dollar index higher while the euro fell to a seven month low after debt problems in Portugal and Spain added to problems seen recently in Greece.
Treasuries rose as the Dow, Nasdaq, and S&P fell over 2% on worldwide fiscal and economic worries.
Among the big names making news in the market today were MasterCard, GMAC, Shell, Sony, Costco, Berkshire Hathaway, Reynolds, and Toyota.
The Commentary:
“Well, the open interest numbers for Monday's big move were exactly what I was hoping to see. In the face of a 2% rise in the gold price, gold's o.i. rose an insignificant 105 contracts. What that means is that it's almost a certainty that the buyers driving up the price were the bullion banks themselves... they did this by covering some of their short positions and also by buying long positions to cover their tracks. Volume was a pretty light 173,450 contracts. Total open interest in gold is now down to 478,576 contracts.
In silver, open interest actually fell 1,774 contracts... which means that even though the bullion banks were driving up the price by going long themselves... they actually covered more of their own short positions... which is why silver o.i. fell instead of rose. Volume was a smallish 37,459 contracts. But total open interest is still up there at 121,619 contracts.
This is the first tentative sign that the bullion banks might be inching towards the exits. All of the above data will be in Friday's Commitment of Traders report... and it should be wondrous to behold.
The CME Daily Delivery Report showed that 960 gold and 8 silver contracts are up for delivery tomorrow. There were no reported changes at either GLD, SLV or the U.S. Mint. The Comex-approved depositories showed a minor withdrawal of 12,855 ounces of silver.
The European Central Bank weekly statement of condition indicated that there was about a one million euro rise in "gold and gold receivables" attributed to a purchase by one captive central banks. [Thanks to the usual N.Y. gold commentator.] It appears that the European banking system has totally abandoned the gold price management scheme.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
“Dear CIGAs,
Gold is down today because stops got run on the paper gold exchange. That came on the back of a strengthening dollar due to a weaker euro as a mirror effect.
Please return to December of 2009 when the impending dollar rally was sold based on a sustainable US economic recovery. That was enough to convince money managers. That demand then triggers the algorithms which fires off huge fund buying for what today is no reason at all.
Our friends at the COMEX use this phenomena to bomb gold and so many of you have a heart attack selling your insurance in both shares and metals. It is like living in a mental hospital where emotions drive all decisions and most of those are total madness.
Technicals run the short term
Fundamentals run the long term.
Insurance is not a day to day item.
Despite these facts, most of the public gets pick pocketed in the paper gold market as a ritual played out every 28 days. You are not better than Trader Dan therefore stop speculating before you have no money left to protect.
Jobless claims were anticipated lower to confirm December’s US economic recovery enthusiasm, but went the other direction today. This is another wound in the assumption that started your dollar rally in December.
Other reasons given for the general decline in commodities was fear that world demand for raw material will subside. As usual the West assumes it is the engine of world demand for everything.
The West is not anymore.
As the BBC special , "The Last Days of Lehman," clearly points out, the Wes is F**ked and we did it.
Read today’s article by Monty Guild on www.JSMineset.com and get the right information on the economy of the East.
Moving on to Euroland, the ECB now wishes they did not make so much noise when the euro was trading at $1.52. Verbal intervention can go both ways. The media keeps screaming Greece and Spain are about to bury the euro, so off goes those algorithms that drive all markets nuts one way or another.
Between algorithms and OTC derivatives, the Finance Geeks have killed us all. As the BBC special says quite clearly, the West is f**ked.
Gold will trade at $1650 and then on to higher numbers.
The hotshot traders whose egos assure them they will never miss the game of monetary musical chairs, will be buried. As soon as they are broke from trading gold, the gold market will do all I have said it will do and the dollar will tank.
Wall Mart will not have any openings for greeters and kids have all the hamburger flipping jobs.”- Jim Sinclair, JSMineset.com
“Dear CIGAs,
Once again the usual, one-two punch against gold was the order of the day – namely an equity market that dropped precipitously and the rush to the “safety” of the Dollar. That combination overwhelmed any buying of size that had been making itself evident near the $1,080 level. I watched the first approach to that support region and the buyer/buyers who had been supporting the market did indeed show up pushing price back above from there as has been the recent pattern. However, the Dollar breaching the 80 level to the upside brought in another wave of selling and that simply swamped the bids down near $1,080 and downside support was breached. The bulls certainly ceded the hard fought advantage that they had been clawing away from the bears early in the week.
Incidentally, open interest saw a mild decrease yesterday but today’s crash no doubt will change that considerably. We have had a very good washout of stale longs which is healthy and had some traders, including myself, thinking that the worst of open interest drop off was over, but today’s action flushed another wad of them out. China and India will be pleased.
I find it ironic on the very same day that the USDX surmounts the 80 level that the headline across one of my favorite website reads,
“Pennsylvania State Capital Mulls Bankruptcy as a Budget Option”.
Let’s see – that now makes California, New York, Michigan, Illinois and Pennsylvania in the headlines within the last few weeks. But little ol’ Greece has debt problems so the Dollar is a safe haven. Yep –makes perfect sense to me. I think I am going to immediately rush out and buy all the Treasury debt I can get my hands on – I cannot think of a better safe harbor. Hedge funds probably won’t question the safe haven status of the Dollar until the headlines read:
“All 50 states considering bankruptcy as a budget option” or
“Punxsutawney Phil sees 6 more YEARS of winter – frightened by a Dollar bill that drifted by his hole”
Maybe then they will sell it.
Then they will probably point to Guam as a reason to buy the Dollar. It probably has not opted for Bankruptcy.
I keep waiting for an IMF bailout of the EU, Britain and the US!
Oh well, things are what they are and for now that means investors are in love with the Dollar (or less in “hate” with it compared to the Euro) out of default and that means the algorithms have to sell more gold as well as nearly every other commodity on the board. Copper, sugar, cotton, crude oil, natural gas, silver – you name it – if it was a commodity it was generally sold off today.
That being said, the failure of the bulls to hold the line at $1,080 means we get another leg down with the possibility of $1,050 as the next test. Gold so far is following the seasonal tendency for weakness in the month of February although the buying that had been coming in near $1,080 had given me reason to think that it might be well able to hold a range trade with that level as the bottom. Now we have to wait and see what level these buyers retreat to and where they tip their hand. For now, the order of the day is further long liquidation along with some additional fresh short selling.
The psychology that is working against gold for right now is that traders are yakking about the lack of inflation and thus their reticence to chase gold higher. So far this liquidity blast from the Fed’s Quantitative Easing program has not worked its way into the broader economy (yet). With banks not lending and tightened credit standards, upward pressure on prices has not been seen in a larger way. Wages are still stagnant and/or falling relieving any pressure from that source. That is the reason that the gold price is so tuned in to what the equity market is doing and why it sells off whenever the equities get clocked. The lower stock market is read by traders as a sign that the economy is not growing or expanding as quickly as the pundits would have them believe and so the upward pressure on prices across the economy fades and down goes gold. It really is that simple.
It is also the reason that the bond market has refused to break lower – bond traders simply do not believe any 5.7% growth rate nonsense or “V” bottom chatter. If they did, the bonds would have a 115 handle on them by now. Keep in mind however that the bonds also have not been able to break higher either. They are trapped in a range as supply issues continue to have a deleterious effect on this market. No one should forget that we have an Administration that has given us a projection of a nearly $3 TRILLION budget deficit over the next two years and that is assuming that some of their rosy growth projections actually materialize – I think that they are vastly overstating projected revenues. That is one helluva lot of Treasury debt that is coming down the road.
Of course, for at least 30 years traders have been conditioned like Pavlov’s dogs to rush to the Dollar at the first sign of economic distress so old habits die hard. Although these dogs are also learning a new trick – rush to the “safety” of the Japanese Yen. I still have to shake my head at that one (maybe we can create a new name for this trade – “ABTW – Anything but the West).
Whatever – that reflex then produces the computer spitting out of gold. All of this is short term “noise” however and the gold community has weathered this same thing time and time again over the last decade. Nothing really has changed except that gold is getting sold off from a higher level which means it will also find support at a higher level as it continues its steady climb higher. Where that new level of support emerges is unclear, but it will, just like it has in times past. In the meantime, believe it or not, let’s watch copper and see where it bottoms for that might give us a clue as to when this “deflation” based selling will subside.
One good thing out of all this hedge fund selling is that it is going to continue to give us cheap gasoline and energy prices. That will help with home heating bills this winter and consumer budgets not to mention lowering costs for the transportation sector. Then again, lower costs are good but what they really need is more business and more revenues, not just lower inputs. That is no way to grow a business long term.
The S&P is perched precariously on top of some critical support and if it takes out the 1066 level on good volume and remains below that level for at least an hour, we could see this market move swiftly down to the November 2009 low near 1025. We certainly are flirting with that level as I type these comments. That would not be much help for the gold shares were that to occur. Hedge funds with their ratio spread trades are probably making money out of this short leg in the mining shares that they are holding even as they take a bit of a hit on the bullion side of things.
The HUI chart stinks – not much more can be said than that. It has to get back above 400 to generate the least bit of bullish enthusiasm. One good thing about its technical picture ( and I am grasping at things I admit), is that there is another level of decent chart support centered between 342 – 348. That might hold it should it get down that low. It is trading below the 50 week moving average however so rallies are going to be sold until it can clear that level and recapture its footing above 400 and STAY THERE.”- Dan Norcini, More at JSMineset.com
GATA Posts:
At swearing-in, Bernanke pledges transparency
The Statistics:
Activity from: 2/03/2010
Gold Warehouse Stocks: | 9,912,903 | -10,086 |
Silver Warehouse Stocks: | 111,368,404 | -301,560 |
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 | 1110.339 | 35,698,496 | US$38,667m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 121.96 | 3,919,061 | US$4,171m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.35 | 491,667 | US$525m |
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$5m |
Note: Change in Total Tonnes from yesterday’s data: The subtracted 1.583 tonnes and the LSE added 0.33 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.27: -0.03 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,355.98 - No change from yesterday’s data.
The Miners:
Nevsun’s (NSU) private placement, Richmont’s (RIC) new board members, ITH’s (THM) drill program, Kimber’s (KBX) public offering, Royal Gold’s (RGLD) second quarter results, Gold Fields’ (GFI) net earnings, and Goldcorp’s (GG) closed acquisition of Canplats were among the big stories in the gold and silver mining industry making headlines today.
WINNER
1. Nevsun | NSU+1.47% $2.07 |
LOSERS
1. Ivanhoe | IVN-13.67% $12.76 |
2. Exeter | XRA -12.99% $6.70 |
3. MAG Silver | MVG -11.74% $5.26 |
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:
Volta Resources intersects 191 meters at 1.31 g/t gold at its Kiaka Gold Project in Burkina Faso - More
- February 04, 2010 | Item | ShareThis
ValGold Reports on Annual and Special Meeting - More
- February 04, 2010 | Item | ShareThis
DEALTALK-Genuity may fit nicely with Canaccord - "Canaccord is one of Canada's largest independent brokerages and since its founding in 1950 has built a strong presence in Canada's mining space, particular among juniors and midcaps." More
- February 04, 2010 | Item | ShareThis
Olympus Commences Trading On ASX - More
- February 04, 2010 | Item | ShareThis
Colombian Mines Corporate Update-Anori, Rio Negro and Yarumalito Projects - More
- February 04, 2010 | Item | ShareThis
Rare Element Resources Ltd. and Medallion Resources Ltd.: Eden Rare-Earth Project Airborne Geophysical Survey Delivered - More
- February 04, 2010 | Item | ShareThis
Rocmec Intercepts 25.79 g/t on the McDowell Vein at Rocmec 1 - More
- February 04, 2010 | Item | ShareThis
Ashburton Reports Progress on Nevada and Red Lake Gold Projects - More
- February 04, 2010 | Item | ShareThis
Eden Rare-Earth Project Airborne Geophysical Survey Delivered - More
- February 04, 2010 | Item | ShareThis
Nevsun Resources Ltd.: Private Placement - "Nevsun Resources Ltd. ("Nevsun") is pleased to advise that it has arranged a non-brokered private placement financing of 52,000,000 common shares at Cdn $2.25 per share for Cdn$117 million (US$110 million). The private placement is scheduled to close on or before February 19, 2010 and is subject to certain conditions, including the receipt of all necessary regulatory approvals. The net proceeds from the offering will be used for Bisha mine development and general working capital purposes." More
- February 04, 2010 | Item | ShareThis
Golden Valley Mines: New Drillhole Results Include 4.5 Metres Averaging 2.22 g/t Au - More
- February 04, 2010 | Item | ShareThis
RX Exploration Announces New Directors - More
- February 04, 2010 | Item | ShareThis
UNOR Announces Change of Management - More
- February 04, 2010 | Item | ShareThis
New Guinea Gold Corporation - Board re-organisation and management changes - More
- February 04, 2010 | Item | ShareThis
Orosur Mining Inc. Announces New Website Address - More
- February 04, 2010 | Item | ShareThis
Goldstone Reports Encouraging Results From Preliminary Drilling at Leitch Gold Mine Property - More
- February 04, 2010 | Item | ShareThis
Sandspring Resources Ltd. Announces Personnel Changes - More
- February 04, 2010 | Item | ShareThis
Eagle Hill Exploration Corporation: New Geological Model of Windfall Lake Gold Deposit Shows New Areas of Wide Gold Mineralization - More
- February 04, 2010 | Item | ShareThis
Lithium One Receives NI 43-101 TECHNICAL REPORT ON JAMES BAY PROJECT and Initiates RESOURCE CALCULATION and METALLURGICAL TESTING - More
- February 04, 2010 | Item | ShareThis
Nebu Acquires Strategic Property Position Adjacent to Historic Timmins Gold Mine - More
- February 04, 2010 | Item | ShareThis
Crowflight Intersects Additional Mineralization at M11A Deposit, 4km North of Bucko Lake - More
- February 04, 2010 | Item | ShareThis
Geo Minerals Encounters Copper Mineralization Over 189 Meters in Phase One Drilling at Copper Springs Prospect in Arizona - More
- February 04, 2010 | Item | ShareThis
Dia Bras Drills More High-Grade Silver Mineralization at Its Cusi Project - More
- February 04, 2010 | Item | ShareThis
Tyhee Announces Diamond Drilling Has Commenced On The Clan Lake Main Zone, Yellowknife Gold Project, NWT Canada - More
- February 04, 2010 | Item | ShareThis
Forsys Metals Corp Reports Results of Snowden's Update to June 2009 Valencia Project Technical Report - More
- February 04, 2010 | Item | ShareThis
Bridgeport Ventures Inc. Expands Rosario Land Position in Chile - More
- February 04, 2010 | Item | ShareThis
Golden Predator, Strategic Metals and Rockhaven Resources Agree to Contribute Major Silver Assets to New Venture; Louis A. Lepry, Jr. Signs on as CEO - More
- February 04, 2010 | Item | ShareThis
Pure Nickel Reports Fiscal Year-end results and 2009 Highlights Year-end Results - More
- February 04, 2010 | Item | ShareThis
Zinccorp Resources Inc. Announces Exploration Plans for West Timmins Properties in Proximity to Significant Gold Discoveries - More
- February 04, 2010 | Item | ShareThis
Wescan Goldfields Inc. - NI 43-101 gold resource at Jojay - More
- February 04, 2010 | Item | ShareThis
Ventana Appoints Blair Way as Vice President Project Development - More
- February 04, 2010 | Item | ShareThis
Nuinsco Receives Further Positive Test Results From Prairie Lake Project - More
- February 04, 2010 | Item | ShareThis
Alto Ventures Ltd.: Destiny Gold Project Provides Further High Grade Results From Phase 1; Phase 2 Drilling in Progress - More
- February 04, 2010 | Item | ShareThis
Golden Share Acquires Lutetium Ree Property in Central Quebec, Canada - More
- February 04, 2010 | Item | ShareThis
Golden Chalice Resources Inc. Commissions NI43-101 Resource Estimate on Langmuir Nickel/Platinum/Palladium Project - More
- February 04, 2010 | Item | ShareThis
Salazar Resources Appoints Mr. John Buckle to Technical Team - More
- February 04, 2010 | Item | ShareThis
Delta Uranium Confirms Additional Alteration Systems and Mineralogy at Wheeler River - More
- February 04, 2010 | Item | ShareThis
Denarii Resources Announces British Columbia Securities Commission Cease Trade Order Update - More
- February 04, 2010 | Item | ShareThis
CBR Gold Corp. Announces Spin-Out Transaction - More
- February 04, 2010 | Item | ShareThis
Everton Reports New Resource Estimate on Cedar Island Gold Deposit, Kenora Region, Ontario - More
- February 04, 2010 | Item | ShareThis
Augyva: Duncan Lake Iron Ore Project NI 43-101 Mineral Resource Estimate - More
- February 04, 2010 | Item | ShareThis
Creston Moly Corp.: Drilling Program Commences at El Creston Molybdenum Deposit, Mexico; Multi-Element Analysis Detects Widespread Silver Values at El Creston - More
- February 04, 2010 | Item | ShareThis
Rodinia Minerals Inc. Welcomes Mark Eaton to the Board - More
- February 04, 2010 | Item | ShareThis
Victoria Gold Corp: Robust Preliminary Economics and High-Grade Initial Resource Established at the Helen Zone - More
- February 04, 2010 | Item | ShareThis
Avion Gold Joins OTCQX - More
- February 04, 2010 | Item | ShareThis
VMS Announces Preparations for Phase 2 Drilling at the Reed Lake Tower Zone and Drill Plans for Its Sails Lake and Copper Projects Near Snow Lake, Manitoba - More
- February 04, 2010 | Item | ShareThis
Gleichen Receives Conditional Approval to List on the Toronto Stock Exchange - More
- February 04, 2010 | Item | ShareThis
Paget Minerals Announces $1.6m Private Placement - More
- February 04, 2010 | Item | ShareThis
Macusani Yellowcake Announces High Test SX/IX Recoveries at Colibri II/III Property/Progress Report - More
- February 04, 2010 | Item | ShareThis
Stans Energy Corp. Announces Closing of $1,500,000 Private Placement - More
- February 04, 2010 | Item | ShareThis
Richmont Mines Shareholders Elect Four New Board Members at Special Shareholder Meeting - "Richmont Mines Inc. (TSX:RIC - News)(AMEX:RIC - News), ("Richmont" or the "Company"), is pleased to announce that the Company's shareholders elected Elaine Ellingham, A. Michel Lavigne, Sam Minzberg and Jean-Pierre Ouellet to the Company's Board of Directors at a Special Shareholder Meeting held in Montreal earlier today. The Company's previous directors, H. Greg Chamandy, Denis Arcand, Rejean Houle, Raynald Vezina and President and CEO Martin Rivard, will all continue to serve on the Board. In addition, Sidney M. Horn was named Corporate Secretary of the Company on December 15, 2009." More
- February 04, 2010 | Item | ShareThis
International Tower Hill Begins 50,000 Metre 2010 Exploration Drill Program at Livengood Gold Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the start of the first phase of its planned 50,000 metre 2010 exploration drill program at Livengood Gold Project, Alaska. The initial phase of this program is the 2010 Winter drilling program, which focuses primarily on the expansion of the Southwest and Western parts of the Money Knob deposit containing the highest grade portion of the deposit discovered to date. In addition, the highly prospective area between the Sunshine and Core Zones will be infill drilled (Figure 1) during the Winter program." More
- February 04, 2010 | Item | ShareThis
Kimber announces terms of public offering of common shares in the U.S. - "Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) ("Kimber" or the "Company") is pleased to announce that further to its public announcement on December 15, 2009 that it had engaged Scarsdale Equities LLC ("Scarsdale") as placement agent for an offering of common shares in the United States it has now entered into a placement agency agreement with Scarsdale to act as the exclusive placement agent to offer and sell on a best efforts basis 3,783,000 common shares of the Company (the "Offered Shares") at a price of US$1.00 per Common Share in a registered direct offering (the "Offering"). Participation in the Offering is limited to residents of the United States. It is anticipated that the Offering will close on February 9, 2010 or shortly thereafter." More
- February 04, 2010 | Item | ShareThis
Goldcorp Secures Key Strategic Asset Near Penasquito With Closing of Canplats Resources Acquisition - "Goldcorp Inc. (TSX:G - News)(NYSE:GG - News) announced today that the acquisition of Canplats Resources has been completed, securing for Goldcorp the Camino Rojo project near its world-class Penasquito mine." More
- February 04, 2010 | Item | ShareThis
Timberline Resources to Present at Phoenix Investment Conference - "Timberline Resources Corporation (NYSE Amex:TLR) ("Timberline") announced today that CEO Randal Hardy will be making a presentation showcasing the company and its Butte Highlands Gold Project joint venture to investors on Friday, February 5, 2010 at the Cambridge House Phoenix Investor Conference." More
- February 04, 2010 | Item | ShareThis
Royal Gold Reports Record Revenue and Free Cash Flow for Fiscal Second Quarter 2010 - "Royal Gold, Inc. (NASDAQ: RGLD - News) (TSX:RGL - News) today announced net income attributable to Royal Gold stockholders of $9.6 million, or $0.24 per basic share, on record royalty revenue of $34.7 million for the second quarter of fiscal 2010. This compares to net income attributable to Royal Gold stockholders for the second quarter of fiscal 2009 of $21.4 million, or $0.63 per basic share, on royalty revenue of $14.6 million." More
- February 04, 2010 | Item | ShareThis
Net Earnings Increase by 40% to R1.4 Billion - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced net earnings for the December 2009 quarter of R1,409 million compared with earnings of R1,007 million and R483 million in the September 2009 and the December 2008 quarters respectively. In US dollar terms net earnings for the December 2009 quarter was US$187 million, compared with US$129 million and US$54 million for the September 2009 and December 2008 quarters respectively." More
- February 04, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 4 February, 2010 | |
