-- Posted 8 April, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1152.65 | UNCH |
Silver | $18.11 | -$0.09 |
XAU | 175.95 | -0.06% |
HUI | 444.87 | +0.19% |
GDM | 1330.33 | -0.06% |
JSE Gold | 2333.11 | +6.56 |
USD | 81.54 | -0.01 |
Euro | 133.49 | +0.08 |
Yen | 107.09 | -0.01 |
Oil | $85.39 | -$0.49 |
10-Year | 3.896% | +0.033 |
T-Bond | 115.625 | -0.28125 |
Dow | 10927.07 | +0.27% |
Nasdaq | 2436.81 | +0.23% |
S&P | 1186.44 | +0.34% |
The Metals:
Gold fell as much as $9.25 to $1143.40 in late Asian trade before it rose to see a $1.05 gain at $1153.70 by early afternoon in New York, but it then fell back off into the close and ended unchanged on the day. Silver fell to as low as $17.895 in early New York trade before it rebounded into the close, but is still ended with a loss of 0.49%.
Euro gold rose to a new all-time high at about €864, platinum gained $0.50 to $1713, and copper fell a penny to about $3.58.
Gold and silver equities fell over 1% at the open before they rose to see slight gains by midday, but they then fell back off a bit in afternoon trade and ended near unchanged.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 4/03 | 460K | 435K | 442K |
Rates on 30-year home loans rise to 5.21 pct Yahoo
Easter lifts March retail sales; April seen weaker Reuters
Tomorrow at 10AM EST brings Wholesale Inventories for February expected at 0.4%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended lower on worries over demand after jobless claims came in higher than expected.
The U.S. dollar index waffled near unchanged on conflicting reports over the future of Greece and its debt problems.
Treasuries fell after today’s 30-year note auction drew a high yield of 4.770% with a bid to cover of 2.73.
The Dow, Nasdaq, and S&P fell in early trade on worries over Greece and higher than expected jobless claims, but all three indices rose to find a gain by the close on encouraging retail sales reports.
Among the big names making news in the market today were Citigroup, Gap, Saks, UAL, and GM.
The Commentary:
“The open interest numbers for Tuesday were just about as bad as I expected they would be. Gold o.i. was up a chunky 16,336 contracts on volume of 136,574 contracts. Silver's o.i. was up 1,321 contracts on volume of 35,468 contracts. These numbers should be in tomorrow's Commitment of Traders report. But as bad as Tuesday's numbers were... they will pale in comparison to the open interest increases we'll see for Wednesday when they're posted at the CME's website later this morning. This rally is not going unopposed. Ted Butler's only concern is that JPMorgan is one of those bullion banks that's piling on the short positions against the spec longs pouring into this market. Friday's Commitment of Traders report [and Bank Participation Report] should shine more light on the situation.
The CME Delivery Report showed that 68 gold and 49 silver contracts have been posted for delivery on Friday. The GLD showed an increase of 29,368 ounces... and there were no changes in SLV or the U.S. Mint. But over at the Comex-approved depositories, they reported that 107,168 troy ounces of silver were withdrawn.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
GATA Posts:
SEC may be creeping ahead of CFTC toward market transparency
Jim Rickards: U.S. could be solvent again with gold at $5,500
Thanks to Jim Sinclair and Zero Hedge
Ted Butler urges one more letter to the CFTC on position limits
Grandich moves market commentary to his own Internet site
Sprott talks about rejected bid for IMF's supposed gold
GATA Chairman Murphy rebuts defense of gold lending
At King World News, more evidence of unbacked gold and silver certficates
The Statistics:
Activity from: 4//2010
Gold Warehouse Stocks: | 10,051,655 | +31,530 |
Silver Warehouse Stocks: | 115,452,155 | -890,968 |
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 | 1130.737 | 36,354,319 | US$41,715m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 115.93 | 3,726,670 | US$4,295m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.35 | 491,335 | US$569m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.19 | 1,581,547 | US$1,806m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,978 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.914 tonnes and the LSE subtracted 0.04 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 76.94 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,178.27 - No change from yesterday’s data.
The Miners:
Exeter’s (XRA) comment clarification, Claude’s (CGR) operating permit, Richmont’s (RIC) drilling program, Rubicon’s (RBY) award, Centerra’s (CG.TO) continued operations despite unrest in the Kyrgyz Republic, ITH’s (THM) drill results, Minefinders’ (MFN) pre-feasibility study results, Impact Silver’s (IPT.V) earnings, SilverCrest’s (SVL.V) construction update, and First Majestic’s (FR.TO) commercial production at its La Encantada Silver Mine were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Coeur | CDE+6.53% $17.14 |
2. Exeter | XRA +4.27% $8.06 |
3. Kimber | KBX +3.77% $1.10 |
LOSERS
1. Fronteer | FRG -5.56% $5.60 |
2. Nevsun | NSU -3.41% $3.12 |
3. Northern Dynasty | NAK -2.49% $9.78 |
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:
Amato announces time extension of US$400,000 work program on Colosio to be completed by April 27, 2013 - More
- April 08, 2010 | Item | ShareThis
Amex Grant to Bowmore Option to Acquire Up to 70% Interest in Its Natora-South Gold Property in Mexico - More
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Apella Resources Adopts Plan to Protect Shareholders' Rights - More
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Eagle Hill Sponsors Learning Together Conference - More
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Liberty Silver Corp. Retains LiveCall Investor Relations - More
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Exeter Resource Corporation - News Release - "Exeter Resource Corporation (NYSE-AMEX:XRA, TSX:XRC, Frankfurt:EXB - "Exeter" or the "Company") is aware of a news article quoting the Company's chief consulting geologist with respect to potential merger activity regarding the Company's Caspiche Project. The Company wishes to clarify that whatever comments were made were a matter of informal personal opinion by a consulting geologist and were not authorized by the Company nor does the Company endorse them. Specifically, the individual is not a spokesman for the Company on commercial matters. In addition, Exeter has a policy of not commenting on the potential future value of its share price and disclaims those statements entirely." More
- April 08, 2010 | Item | ShareThis
Claude Resources Inc. Receives Final Operating Permit for Santoy 8 Gold Project - "Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) ("Claude" or the "Company") is pleased to announce that the Santoy 8 Gold Project in north eastern Saskatchewan, Canada has received Ministerial Approval and Operating Permit to advance it from an Exploration Project to a Production Project. Santoy 8 is a satellite deposit located approximately fourteen kilometres (nine miles) east of the Seabee Mine and mill, is accessible by an all weather road and is connected to provincial power grid. This accomplishment is considered a major milestone for the Company and its shareholders." More
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Galahad Metals Inc.: Stock Option Grant - More
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IMPACT SILVER ANNOUNCES RECORD NET EARNINGS UP 75% IN 2009 - "Net earnings for the year reached $1.16 million, up 75% from $0.66 million in 2008. Mine operating earnings were $4.2 million, up 90% from $2.2 million in 2008. Silver production for the year reached 823,571 oz, up 30% from 635,668 oz in 2008 and 136% from 348,949 oz in 2007." More
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Richmont Mines Announces a 10,000 Metre Surface Drilling Program on Its Wasamac Property - "Richmont Mines Inc. (TSX:RIC - News)(AMEX:RIC - News)("Richmont" or "the Company"), is pleased to announce that it will begin a 10,000 metre drilling program in May 2010 on its 100%-owned Wasamac property. Located 15 km west of Rouyn-Noranda, Quebec, in the heart of the Abitibi gold mining district, this property produced 252,923 ounces of gold between 1965 and 1971. The property consists of three mining concessions and one claim, and covers an area of 7.58 km2 (757.65) hectares. There are no royalties or back-in-rights on this property." More
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Yale Acquires Property in Sonora State, Mexico - More
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Rubicon Receives Northwestern Ontario Developer of the Year Award - "Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-AMEX) is pleased to announce that it has been awarded the Northwestern Ontario Developer of the Year award at a recent ceremony held in Thunder Bay, Ontario. The award was presented by the Northwest Ontario Prospectors Association ("NWOPA") and recognizes 'an outstanding northwestern Ontario developer or development project during the previous calendar year'." More
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AmeriLithium's Australia Project Situated to Exploit China's Market - More
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Sintramienergetica, Segovia Section: Press Release From the Rightful Owners of Frontino Gold Mines - More
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Nitinat Appoints Victor Cantore to the Board of Directors - More
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Establishment of Employee Share Trust and Finalisation of Special Grant - More
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First Gold and Blue Note to Drill Deep Gold at Croinor - More
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Stillwater Mining Company Comments on Norilsk Nickel's Schedule 13-D Filing - More
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Hard Creek Nickel Corporation Renews IR Contract With O & M Partners LLC - More
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Condor Resources Inc.: Geophysics Defines 700 by 350 Metre Target at the Pucamayo Project, Peru; May Drilling Planned - More
- April 08, 2010 | Item | ShareThis
St. Eugene Mining Corporation Appoints Mr. Wes Hanson as Advisor for Tartan Lake Mine, Manitoba - More
- April 08, 2010 | Item | ShareThis
Timmins Gold Corp.: Commercial Gold Production Commences at the San Francisco Mine - More
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Extract Resources - Notification of Resignation - Mr Stephen Dattels - More
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New Guinea Gold Announces Resignation of Judith O'Quinn - More
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Source Commences Underground Drilling Targeting Extensions of Historical High Grade Ore Shoots - More
- April 08, 2010 | Item | ShareThis
Laurentian Goldfields Ltd. Commences Exploration With Kinross on Goldpines North and Anglogold Ashanti on Goldpines South - More
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Volcanic Identifies Major New Target Area, 2.5km South of Historic Gjegjan Ore Deposit-Field Work Begins - More
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Greystar Resources Ltd.: Change of Senior Officer - More
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European Goldfields Limited - Establishment of Employee Share Trust and Finalisation of Special Grant - More
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Paragon and Crosshair Extend Jaclyn Main Gold Zone - More
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Merrex Gold Urgent Notice to Warrantholders - More
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European Goldfields - Employee Share Trust & Grant - More
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Rio Alto Announces Early Completion of Metallurgical Tests - More
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Pebble Creek appoints Dr. William A. Sheppard as Vice President, Exploration - More
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African Gold Group, Inc., to Commence Airborne Survey of Asankrangwa Holdings-Contiguous and on Strike With Keegan's Esaase Deposit - More
- April 08, 2010 | Item | ShareThis
Woulfe Mining: Sangdong Project Study Returns Positive Economics - More
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Arco Options Tres Hermanas Property in Oaxaca, Mexico - More
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Tirex Drilling at Mirdita VMS District - More
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Continental Precious Minerals Provides Update on Economic Scoping Study - More
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Crosshair Intersects 19.9 gpt Gold Over 1.6 Metres - More
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Cartier Acquires Major Land Holding Along Extension of Prolific Larder Lake-Cadillac Fault - More
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Mega Uranium Ltd.: Lake Maitland Project Update - More
- April 08, 2010 | Item | ShareThis
Solar Energy to Acquire 100% of Peloton Mining Inc. - More
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Western Pacific Expands Mineral Gulch Project - More
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SilverCrest Santa Elena Gold and Silver Mine Construction Update #2 - "SilverCrest Mines Inc. (TSX-V:SVL - News) (the "Company") is pleased to report that mine construction activities at its 100% owned Santa Elena mine located in Sonora, Mexico are progressing on schedule for a mid-year first metal pour and are currently under budget. Santa Elena will be a high grade gold and silver, open pit heap leach mine that is scheduled to reach commercial production in the fourth quarter of this year. The estimated capital cost of the fully financed project is US$20.0 million and the 2,500 tonne per day facility is expected to produce approximately 35,000 ounces of gold and 600,000 ounces of silver per year over an 8 year mine life at an estimated life of mine cash cost of less than US$375 per ounce of gold & gold equivalent." More
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U3O8 Corp. Completes Acquisition of Mega Uranium's South American Assets - More
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Apollo Solar Energy Management Team Visited Leading Institutions in CdTe PV Research - More
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Sunergy Updates Operations on Its 150 sq. km. Mining Concession and the Proposed 57 sq. km. Mining Concession Acquisition in Ghana, West Africa - More
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Marathon Intersects New High Grade and Visible Gold at Leprechaun Deposit: 25 m of 4.58 g/t Au (cut) and 22 m of 2.78 g/t Au - More
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LIM Announces New Resource Estimates for the Houston Deposit - More
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Mountain Lake: Drilling Intersects Two High Grade Intervals Over 105 g/t (3 oz/t) Gold Within Broader 25 m Interval of 6.79 g/t at Leprechaun Deposit - More
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2010 Most Active Exploration Year yet for AuEx - More
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La Mancha's VMS Project Returns Promising Metallurgical Test Results - More
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Mediterranean announces Celtik drill results, update on surface exploration at Cevreli, and updates Tac and Corak preliminary economic assessment - More
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Greystar Resources Ltd.: Change of Senior Officer - More
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Centerra Gold Confirms Operations Continue at Its Kumtor Mine - "Centerra Gold Inc. (TSX:CG - News) today confirmed that operations at its Kumtor mine, in the Kyrgyz Republic, continue uninterrupted and are currently unaffected by the unrest in the country. The Kumtor mine is located 430 kilometres by road to the southeast of the national capital Bishkek." More
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First Majestic Silver Corp.: La Encantada Achieves Commercial Production - "First Majestic Silver Corp. (the "Company") (TSX:FR - News)(OTCQX: FRMSF)(Frankfurt:FMV - News)(WKN: A0LHKJ) is pleased to announce that the Company's new 3,500 tpd cyanidation plant at its La Encantada Silver Mine in Coahuila, Mexico has reached commercial production effective April 1st, 2010." More
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International Tower Hill Continues to Expand Livengood Deposit in the Sunshine-Core Zone Gap Area - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the results for an additional 14 holes of the 2010 winter drilling campaign at the Livengood gold project, Alaska (Figure 1). The winter drilling program is focussed on expanding and adding confidence to the existing resource by infilling and stepping out in the permafrost gap areas of the deposit. Drill holes MK-RC-0310 (114 cumulative gram metres), MK-RC-0316 (141 gram metres), and MK-RC-320 (117 gram metres) continue to close the area between the Core and the Sunshine Zones with an expansion of higher grade mineralization (Table 1)." More
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- Chris Mullen, Gold Seeker Report
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-- Posted 8 April, 2010 | |
