-- Posted 25 March, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1092.50 | +$3.40 |
Silver | $16.68 | +$0.08 |
XAU | 158.31 | -1.73% |
HUI | 392.93 | -1.67% |
GDM | 1179.50 | -1.59% |
JSE Gold | 2188.32 | -7.05 |
USD | 82.17 | +0.28 |
Euro | 132.83 | -0.31 |
Yen | 107.80 | -0.60 |
Oil | $80.53 | -$0.08 |
10-Year | 3.901% | +0.072 |
T-Bond | 115.8125 | -0.8125 |
Dow | 10841.21 | +0.05% |
Nasdaq | 2397.41 | -0.06% |
S&P | 1165.73 | -0.17% |
The Metals:
Gold saw a slight loss of $2.60 at $1086.50 in Asia and rose to see a gain of $6.55 at as high as $1095.65 in London before it fell back off in midmorning New York trade and saw a $1.50 loss at $1087.60 at around 10:30AM EST, but it then bounced back higher in the last few hours of trade and ended with a gain of 0.31%. Silver climbed to as high as $16.835 in London before it fell back off in New York trade, but it still ended with a gain of 0.48%.
Euro gold rose to about €820, platinum gained $21.50 to $1603, and copper gained a few cents to about $3.37.
Gold and silver equities saw small gains for most of the morning, but they then fell back off in afternoon trade and ended over 1% lower.
What they said at CFTC hearing on metals limits – Reuters
US CFTC faces naysayers on metals trade limit idea Reuters
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 3/20 | 442K | 450K | 456K |
Serious mortgage delinquencies jump in Q4 Reuters
Tomorrow at 8:30AM EST brings fourth quarter GDP expected at 5.9% and the GDP Deflator expected at 0.4%. At 9:55 is Michigan Sentiment for March expected at 73.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil reversed early gains and ended lower as the U.S. dollar index jumped higher in late trade after the euro fell following comments from the ECB’s Trichet that IMF aid for Greece would be “very, very bad.”
Treasuries fell after today’s $32 billion 7-year note auction drew a high yield of $3.374% with a bid to cover of 2.61.
The Dow, Nasdaq, and S&P rose to see about 1% gains by late morning on positive company forecasts, but they then fell back off in afternoon trade and ended near unchanged on worries over debt and the currency markets.
Among the big names making news in the market today were Deere, Citigroup, Best Buy, and Exxon.
The Commentary:
“As I mentioned in my commentary yesterday, it was my opinion that because of Tuesday's price action, we would see an increase in open interest when the numbers came out Wednesday morning. Well, I was half right. Gold o.i. rose a healthy 4,497 contracts. Volume was a chunky 193,518... but a lot of that was roll-overs into future months. Silver's volume yesterday was 33,482 contracts... but I was pleasantly surprised to see that o.i. actually fell 797 contracts. All this will be in tomorrow's Commitment of Traders report.
The CME Delivery Report showed that 6 gold and 21 silver contracts are up for delivery on Friday. There were no reported changes in GLD, SLV... or the U.S. Mint's sales numbers. Because the Comex-approved warehouses didn't have a report on Tuesday, I have a couple of numbers to report today. Tuesday's report showed that silver stocks declined 642,005 ounces on Monday... and yesterday's report showed they added 141,532 troy ounces on Tuesday.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
“Dear CIGAs,
Let us not forget the reality that the US has plunged into levels of debt that we could not have previously imagined; nationalized healthcare has been met with fierce resistance nationwide; States are now litigating the demand for its citizens to sign up and/or be fined and imprisoned. TARP bailouts and stimulus spending have shown little positive effect on the national economy; unemployment is unacceptably high and looks to remain that way for most of a decade; legacy entitlement programs have ballooned to unsustainable levels, and there is a seething anger in the populace.
Dan gave you the skinny yesterday. The reality is that the financial crisis in the US now construct in the form of state failure exceeds any problems in Europe.
Perspective is now in the marketplace, but reality will carry the day in terms of trend.
Gold will trade at $1650 and better.
The US dollar is no safe haven from anything.
Stay the course!”- Jim Sinclair, More at JSMineset.com
GATA Posts:
Can't manipulate Treasuries market? But that's the point of rigging gold!
Scott Thill: Gold's value is as artificial as paper money's
Zero Hedge throws itself into the fight against gold price suppression
CFTC announces Internet link for video of Thursday's metals hearing
British PM ordered to disclose info on gold sales
GATA Chairman Murphy interviewed by Canada's BNN
The Statistics:
Activity from: 3/24/2010
Gold Warehouse Stocks: | 10,022,217 | -708 |
Silver Warehouse Stocks: | 116,132,734 | +142,729 |
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 | 1120.079 | 36,011,665 | US$39,347m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 117.74 | 3,783,758 | US$4,127m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.35 | 491,409 | US$538m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.20 | 1,581,790 | US$1,725m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,979 | US$5m |
Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.05 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 76.96 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,278.18 - No change from yesterday’s data.
The Miners:
Exeter’s (XRA) Board addition, Fronteer’s (FRG) drill results, and ECU Silver’s (ECU.TO) report on operations for February were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Seabridge | SA+4.81% $23.10 |
2. Fronteer | FRG+2.48% $4.95 |
3. Endeavour | EXK+1.90% $3.22 |
LOSERS
1. Timberline | TLR -6.25% $1.05 |
2. US Gold | UXG-4.78% $2.59 |
3. New Gold | NGD-4.19% $4.12 |
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:
Continental Precious Minerals-Update on Licences in Sweden - More
- March 25, 2010 | Item | ShareThis
Imperial Comments on Market Activity - More
- March 25, 2010 | Item | ShareThis
Houston Lake Mining Drills 19 m at 9.99 g/t Au, including 3.10 m at 57.28 g/t on Dubenski Gold Property - More
- March 25, 2010 | Item | ShareThis
Canterra Minerals Corporation: Drilling Completed on Buffalo Hills Property - More
- March 25, 2010 | Item | ShareThis
Nanika Acquires Additional Ground at Stewart British Columbia - More
- March 25, 2010 | Item | ShareThis
Golden Wonder Ore Shipments Expected to Continue in Q-2; LKA to Approve New Mine Operator - More
- March 25, 2010 | Item | ShareThis
Central Completes Drill Program and Announces Management Changes - More
- March 25, 2010 | Item | ShareThis
Goldcliff Resource Corporation: From Old Copper Showings to New Copper-Gold Targets - More
- March 25, 2010 | Item | ShareThis
Moneta intersects high grade gold mineralization on Southwest Zone: - More
- March 25, 2010 | Item | ShareThis
Alexis Minerals Commences Second Stage Transaction to Acquire Remaining Shares of Garson Gold Corp. - More
- March 25, 2010 | Item | ShareThis
Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common and Preferred Stocks - "Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX - News) today declares the following quarterly cash dividends payable on May 1, 2010 to holders of record as of April 15, 2010: •$0.15 per share of FCX’s Common Stock (NYSE: FCX - News). •$1.6875 per share of FCX’s 6ľ% Mandatory Convertible Preferred Stock (NYSE: FCXprM - News)." More
- March 25, 2010 | Item | ShareThis
Channel Resources Welcomes Dr. Richard Schutte to Board of Directors, Grants Stock Options - More
- March 25, 2010 | Item | ShareThis
Arco Closes First Tranche of Non-Brokered Financing - More
- March 25, 2010 | Item | ShareThis
Western Troy Stakes Claims on Lithium Prospect in Quebec - More
- March 25, 2010 | Item | ShareThis
Greenock Receives NI 43-101 Report on Nevada Gold Property - More
- March 25, 2010 | Item | ShareThis
Geologix Options Peru Properties to Rae Wallace Mining Company - More
- March 25, 2010 | Item | ShareThis
ECU Silver Reports on Gold and Silver Operations for February 2010 - "Gold and silver generated in February was very good, particularly when considering that February is a shorter month. During February, we continued our testing to better understand the metallurgy which resulted in subsequent adjustments to enhance our recoveries of gold and silver. To help us accomplish our objective of maximizing recoveries in a timely manner, we hired outside consultants with particular expertise in this area." More
- March 25, 2010 | Item | ShareThis
Bonanza Goldfields optimistic after Phase 1 complete - More
- March 25, 2010 | Item | ShareThis
Panoro Minerals Appoints Richard Mundie to Board of Directors - More
- March 25, 2010 | Item | ShareThis
Animas Plans Exploration at Ariel Copper/Gold Target and Updates on Targeting / Drilling El Tigre - More
- March 25, 2010 | Item | ShareThis
James M. Dawson Joins Volcanic's Advisory Board - More
- March 25, 2010 | Item | ShareThis
Sandstorm Resources Announces Proposed Spin-Out of Sandstorm Energy & Base Metals Ltd. - More
- March 25, 2010 | Item | ShareThis
Orezone: Bombore Auger Drilling Results Indicate Possible 2.5km of Extension - More
- March 25, 2010 | Item | ShareThis
DIOS: Diamond Drilling Program Ongoing on the Shipshaw Carbonatite Complex - More
- March 25, 2010 | Item | ShareThis
Bonanza Goldfields optimistic after Phase 1 complete - More
- March 25, 2010 | Item | ShareThis
ITOCHU Corporation Vests its Interest in Pure Nickel's MAN Project, Accelerates Planned Expenditures for 2010 and Beyond - More
- March 25, 2010 | Item | ShareThis
Century Reports Record Gold Production at San Juan Gold Mine in Peru - More
- March 25, 2010 | Item | ShareThis
Oromin Appoints Vice President of Senegal Operations - More
- March 25, 2010 | Item | ShareThis
Pelangio Exploration Appoints Exploration Manager and Engages Dr. Robert J. Griffis as Geological Consultant - More
- March 25, 2010 | Item | ShareThis
Tombstone Exploration Corporation to Begin 2010 Drill Program in April - More
- March 25, 2010 | Item | ShareThis
Cartier Confirms Polymetalic VMS Potential at Depth on MacCormack - More
- March 25, 2010 | Item | ShareThis
Strategic Mining Appoints Prominent Consulting Geologist to Management Team - More
- March 25, 2010 | Item | ShareThis
Potential for high grade magnetite/vanadium concentrate confirmed by advanced testing of Ironmist magnetite ore - More
- March 25, 2010 | Item | ShareThis
Santa Fe Gold Begins Summit Silver-Gold Processing Operations at Its Lordsburg Mill, New Mexico - More
- March 25, 2010 | Item | ShareThis
Grayd Reports 41 Metres Grading 2.5 g/t Au in the La India Zone - More
- March 25, 2010 | Item | ShareThis
Dundee Precious Metals Completes Acquisition of Namibian Smelter Assets - More
- March 25, 2010 | Item | ShareThis
Hunt Mining Doubles the Size of its Precious Metal Land Holdings in Santa Cruz, Argentina - More
- March 25, 2010 | Item | ShareThis
Aquila Step Out Drilling Hits New Mineralized Horizon - More
- March 25, 2010 | Item | ShareThis
Rockcliff Hits Wide Interval of High Grade Copper at Rail Zone - 7.77m Grading 2.87% Copper Including 4.05m Grading 5.05% Copper - More
- March 25, 2010 | Item | ShareThis
Franconia Minerals Options Land Parcels for Birch Lake - More
- March 25, 2010 | Item | ShareThis
Challenger Development Corp.: Agreement to Acquire 70% Interest in Former Gold Producer in Zambia - More
- March 25, 2010 | Item | ShareThis
Marathon Drilling Intersects New Zone Grading 4.43 g/t Gold Over 20.8 m: Increased Open Pit Potential at Leprechaun Gold Deposit - More
- March 25, 2010 | Item | ShareThis
Results Continue to Increase the Open Pit Potential of Leprechaun Gold Deposit and Expand the Resource - More
- March 25, 2010 | Item | ShareThis
VMS Ventures Initiates Line Cutting and Ground Geophysical Surveys Ahead of a Spring Drill Program at Its 100% Owned Copper Project Near Snow Lake, Manitoba - More
- March 25, 2010 | Item | ShareThis
Eloro Intersects Up to 20.4 g/t Gold Over 3.0 Metres in Multiple New Gold Zones, Adding Significant Potential Below the Simkar Gold Property's Historic Mine - More
- March 25, 2010 | Item | ShareThis
Megastar Development Corp.: Simkar Drilling Results Add Significant Potential Below Historic Mine Workings - More
- March 25, 2010 | Item | ShareThis
Candente Copper Resumes Feasibility Studies & Exploration - More
- March 25, 2010 | Item | ShareThis
Greystar Resources Announces Drill Results from Mongora Prospect - More
- March 25, 2010 | Item | ShareThis
Fronteer: Near-Surface Oxide Gold Intercepts Highlight Open-Pit Potential at Sandman, Nevada - "Fronteer (TSX:FRG - News)(AMEX:FRG - News) announces today that drilling by Newmont USA Limited ("Newmont"), a wholly owned subsidiary of Newmont Mining Corporation, has intersected additional near-surface oxide gold at Sandman, reinforcing the project's open-pit mining potential." More
- March 25, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
Additional Resources for today’s Gold Seeker Report can be found:
© Gold Seeker 2010
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.
Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted 25 March, 2010 | |
