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Gold Seeker Closing Report: Gold and Silver Rise With Stocks and Oil

By: Chris Mullen, Gold-Seeker.com


-- Posted 20 April, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1139.00

+$3.90

Silver

$17.81

+$0.10

XAU

168.01

-0.27%

HUI

426.78

-0.23%

GDM

1281.81

-0.25%

JSE Gold

2276.25

+5.14

USD

80.95

+0.02

Euro

134.43

-0.45

Yen

107.34

-0.84

Oil

$83.85

+$0.72

10-Year

3.805%

-0.002

T-Bond

116.46875

+0.25

Dow

11117.06

+0.23%

Nasdaq

2500.31

+0.81%

S&P

1207.17

+0.81%

 
 

 

The Metals:

 

Gold traded about 0.5% higher in London and popped to as high as $1145.89 to see a $10.79 gain by about 10AM EST in New York before it fell back off into the close, but it still ended with a gain of 0.34%.  Silver climbed to as high as $18.013 before it also fell back off in the last few hours of trade, but it still ended with a gain of 0.56%.

 

Euro gold rose to about €848, platinum gained $21.50 to $1710, and copper added a couple of cents to about $3.51.

 

Gold and silver equities saw over 1% gains in the first half hour of trade, but they then fell back off for most of the rest of trade and ended with slight losses.

 

The Economy:

 

U.S. Housing Program Fails to Stem Foreclosures, Watchdog Says  Bloomberg

 

There were no major economic reports today, and there are none due out tomorrow.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil rose on decent earnings reports and news of resumed flights in Europe that raised energy demand expectations.

 

The U.S. dollar index was mixed on speculation over world central bank moves after the Bank of Canada hinted towards a rate hike sooner than previously thought.  While the dollar dropped rather markedly against the loonie, it rose versus both the euro and yen on thoughts that it may influence the fed to raise US rates sooner than previously thought.

 

Treasuries remained near unchanged as the Dow, Nasdaq, and S&P rose on improving earnings reports.

 

Among the big names making news in the market today were Coach, UnitedHealth, Delta, SABMiller, J&J, Goldman Sachs, Coca-Cola, Magnetar, Eaton, and Lehman Brothers.

 

The Commentary:

 

“Well, the open interest numbers reported yesterday for Friday's big down day, were not what I was expecting.  Gold open interest, which should have fallen quite a bit, actually rose 2,204 contracts.  There are two explanations for this... the first being that Friday's open interest numbers were not all reported in a timely manner by the bullion banks... and we won't see the rest of them until Monday's open interest numbers are posted later this morning.  That's what Ted Butler thinks... and he certainly could be right.  However, there is one other explanation... and that is the bullion banks went long more contracts than they covered... to the tune of 2,204 contracts.  That wouldn't be the first time they pulled that stunt.  We'll just have to wait and see.

 

Silver's open interest numbers looked more conventional... down 2,716 contracts... which wasn't a lot considering the 85 cent down-move in price.  Maybe the bullion banks did the same in silver as they did in gold?  Monday's o.i. numbers may help... but we'll probably have to wait for this Friday's Commitment of Traders report before we know for sure.”– From Ed Steer’s Gold & Silver Daily, read the full report here.

 

GATA Posts:

 

 

ECB simultaneously confirms and denies currency intervention

 

The Statistics:

Activity from: 4/19/2010

Gold Warehouse Stocks:

10,105,003

-31,159

Silver Warehouse Stocks:

114,636,644

-298,372

 

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

1141.041

36,685,623

US$41,984m

London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse )

Gold Bullion Securities

115.32

3,706,281

US$4,227m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

476,282

US$521m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

49.19

1,581,391

US$1,821m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,977

US$6m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 76.48 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 8,912.94 - No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) project progress, NovaGold’s (NG) pre-feasibility study, Australia’s earthquake, and Apogee’s (APE.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +6.88% $1.71

2.  Mines MGMT

MGN+6.49% $2.79

3.  Almaden

AAU +5.89% $1.08

 

LOSERS

1.  Rubicon

RBY -3.14% $3.70

2.  Timberline

TLR -1.83% $1.07

3.  Buenaventura

BVN-1.71% $30.97

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:

Hinterland REE Anomalies on Kipawa Property, Quebec - More
- April 20, 2010 | Item | ShareThis


Amarok Resources Inc. Signs Agreement With St. Elias Mines Ltd. on Cueva Blanca Gold Property, Peru - More
- April 20, 2010 | Item | ShareThis


Alto Group Holdings Announces the Acquisition of the Zuna Property - More
- April 20, 2010 | Item | ShareThis


Soho Resources Corp.-Retraction of "Contained Metals Value" in Previous News Release - More
- April 20, 2010 | Item | ShareThis


Queenston Mining Announces Completion of Amalgamation With Vault Minerals - More
- April 20, 2010 | Item | ShareThis


La Quinta Resources Engages Investor Relations Group - More
- April 20, 2010 | Item | ShareThis


Golden Peaks Extends T-11 Zone - More
- April 20, 2010 | Item | ShareThis


Marifil Grants Stock Options - More
- April 20, 2010 | Item | ShareThis


Randgold Resources Reports Rapid Progress on Kibali - "Randgold Resources, the operator of the Kibali Gold Project (a Randgold Resources, AngloGold Ashanti and OKIMO joint venture) has advised the government of the Democratic Republic of the Congo that the project is making rapid progress on the key issues related to the development of the Kibali gold project. The government has a 10% stake, through the parastatal OKIMO, in the project, which is the largest undeveloped gold deposit in Africa." More
- April 20, 2010 | Item | ShareThis


Global Uranium cancels private placement of .15 cent unit - More
- April 20, 2010 | Item | ShareThis


North American Palladium to Acquire Vezza Gold Project From Agnico-Eagle - More
- April 20, 2010 | Item | ShareThis


Wildcat Increases Mineral Resource Estimate at Hardshell - More
- April 20, 2010 | Item | ShareThis


Amseco Exploration Ltd. Start of an Airborne Mag Survey in Urban-Barry Mining Project - More
- April 20, 2010 | Item | ShareThis


Acadian Mining enters into an agreement for the sale of its 29.18% interest in Royal Roads Corp. - More
- April 20, 2010 | Item | ShareThis


Soho Resources Achieves Recoveries of 85.6% Gold, 90.1% Silver, 87.9% Copper, 86.7% Lead and 88.1% Zinc in Recent Metallurgical Testing Results - More
- April 20, 2010 | Item | ShareThis


Condor Resources Inc.: Large High Sulphidation Alteration Zone Discovered at Pucamayo, Peru - More
- April 20, 2010 | Item | ShareThis


Rainy River Identifies Strong New Gold Targets by RC Drilling - More
- April 20, 2010 | Item | ShareThis


Airborne Survey on Beaufield Ground in Urban Township by Amseco - More
- April 20, 2010 | Item | ShareThis


Houston Lake Mining Intersects 5.70 g/t Gold Over 3.0 Metres on Dubenski Gold Property - More
- April 20, 2010 | Item | ShareThis


International Northair Mines Announces Investor Relations Contact - More
- April 20, 2010 | Item | ShareThis


Mesa Initiates Permitting for Green Energy Lithium Project - More
- April 20, 2010 | Item | ShareThis


Savant to Start Drilling on the Parbec Gold Property - More
- April 20, 2010 | Item | ShareThis


Alturas Announces Final Tranche of Financing for $641,368 Bringing Total Raised to $1,519,342 - More
- April 20, 2010 | Item | ShareThis


Wallbridge Completes 60-Percent Earn-In and Publishes Updated NI 43-101 Report at Pele Mountain's Sudbury Nickel Project - More
- April 20, 2010 | Item | ShareThis


Rio Alto Mining Limited: US$24.25 Million Accessed to Build La Arena Gold Mine - More
- April 20, 2010 | Item | ShareThis


Drill mobilized to Askot project, India - More
- April 20, 2010 | Item | ShareThis


Apoquindo Reports Further Drill Results Intersecting 169m of 0.86% Cu and 0.19 g/t Au at Zafranal - More
- April 20, 2010 | Item | ShareThis


Soltoro Completes Shallow Hole Drilling on El Rayo Gold Zone - More
- April 20, 2010 | Item | ShareThis


Everton Earns 50% Interest in the Opinaca A and B Gold Properties, James Bay region, Quebec and Announces Partial Closing of Private Placement - More
- April 20, 2010 | Item | ShareThis


Rare Earth Metals Releases Third Set of Drill Hole Results From its Clay-Howells Project - More
- April 20, 2010 | Item | ShareThis


Silver Falcon Mining, Inc.'s (SFMI) Diamond Creek Mill Facility Opens for Precious Metal Production - More
- April 20, 2010 | Item | ShareThis


Uranium International Corp. Appoints Keith Laskowski as Chief Geologist and Director of the Company - More
- April 20, 2010 | Item | ShareThis


Columbus Begins Permitting for Drilling at Two Nevada Gold Projects - More
- April 20, 2010 | Item | ShareThis


Arco's Additional Claim at Tres Hermanas Approved - More
- April 20, 2010 | Item | ShareThis


Currie Rose Resources Inc.: Private Placement - More
- April 20, 2010 | Item | ShareThis


Teryl Resources Announces Drilling Commences on Alaska Gold Joint Venture Property - More
- April 20, 2010 | Item | ShareThis


Geovic Announces Annual Stockholder Meeting, Follow-Up Investor Presentation - More
- April 20, 2010 | Item | ShareThis


Uranerz Initiates 2010 Powder River Basin Drilling Program - More
- April 20, 2010 | Item | ShareThis


Quadra Announces First Quarter 2010 Production Results - More
- April 20, 2010 | Item | ShareThis


Fire River Gold Announces High Grade Gold Results Nixon Fork Gold Mine, Alaska - More
- April 20, 2010 | Item | ShareThis


Tombstone Exploration Corporation Initiates 2010 Drill Program - More
- April 20, 2010 | Item | ShareThis


NGG Restructures Interest in Normanby/Imwauna - More
- April 20, 2010 | Item | ShareThis


Richfield's Hole BW 59 now at 509 Metres on the Blackwater Gold Project, BC - More
- April 20, 2010 | Item | ShareThis


Azimut and Everton: Partners at 50% on the Opinaca A and B gold properties, James Bay region, Quebec - More
- April 20, 2010 | Item | ShareThis


Kaminak Mobilizes to the Coffee Property and Outlines Drill Strategy - More
- April 20, 2010 | Item | ShareThis


Quaterra Completes In-Fill Drilling Program at Nieves - More
- April 20, 2010 | Item | ShareThis


Merit Mining Corp. Signs Subscription Agreement With Hong Kong Huakan Investment Co., Limited - More
- April 20, 2010 | Item | ShareThis


Far West Mining Ltd.: Locked Cycle Test With Sea Water Produces Outstanding Concentrate - More
- April 20, 2010 | Item | ShareThis


Seafield Announces Initial Inferred Resource of 776,000 Ounces Gold at Miraflores in the Quinchia Gold District, Colombia - More
- April 20, 2010 | Item | ShareThis


Anfield Intersects 22.40 Meters Grading 1.80% Nickel Including 8.30 Meters Grading 2.54% Nickel at Its Mayaniquel Project, Guatemala - More
- April 20, 2010 | Item | ShareThis


Bonanza Goldfields soil samples confirms phase 1 a tremendous success - More
- April 20, 2010 | Item | ShareThis


JNR Announces Completion of 2010 Drilling Program at Way Lake Uranium Project - More
- April 20, 2010 | Item | ShareThis


Guyana drills 53 m (at) 4.25 g/t Au in new zone at Aurora - More
- April 20, 2010 | Item | ShareThis


Liberty Reports First Quarter Production and Exploration Update - More
- April 20, 2010 | Item | ShareThis


Zincore Announces Positive Metallurgical Test Results in Processing Accha Zinc Oxide District Ores - More
- April 20, 2010 | Item | ShareThis


Talon Metals Joint Venture on Lara's Sergipe Potash Project - More
- April 20, 2010 | Item | ShareThis


Capstone Reports First Quarter Copper Production & Operating Costs - More
- April 20, 2010 | Item | ShareThis


Noront initiates feasibility study at McFaulds Lake - More
- April 20, 2010 | Item | ShareThis


Rodinia Minerals Inc. Reports Phase II Sample Results at Diablillos With Brines Up to 1000 mg/L Lithium and 11000 mg/L Potassium - More
- April 20, 2010 | Item | ShareThis


VMS Commences First Drill Program at Its 100% Owned Copper Project, Snow Lake, Manitoba - More
- April 20, 2010 | Item | ShareThis


Big Bear Mining Corp. Announces Addition of New Board Member, Renowned Geologist John Glasscock, of Cowboy Exploration - More
- April 20, 2010 | Item | ShareThis


Lundin Mining Corporation: Neves-Corvo Copper Mine Notified of Further Industrial Action - More
- April 20, 2010 | Item | ShareThis


Habanero Acquires Additional Property Contiguous to Haldane Silver Project in the Yukon - More
- April 20, 2010 | Item | ShareThis


Medusa Mining Limited: Saugon Drilling Commencing - More
- April 20, 2010 | Item | ShareThis


Lihir Gold Limited: Response to Newcrest Letter - "The Board of LGL notes the letter which Newcrest released to the Australian Securities Exchange earlier today. The Board is giving the letter due consideration." More
- April 20, 2010 | Item | ShareThis


NovaGold Announces Pre-Feasibility Study Underway at Galore Creek Project - "NovaGold Resources Inc. (TSX:NG - News)(AMEX:NG - News) today announced that a pre-feasibility study is underway for its Galore Creek copper-gold-silver project located in northern British Columbia. Galore Creek is owned equally by NovaGold and Teck Resources and managed by the Galore Creek Mining Corporation ("GCMC")." More
- April 20, 2010 | Item | ShareThis


Apogee Extends the Pulacayo Silver Deposit 350 Meters to the East-Including an Intercept of 5.0 Meters Grading 451.20 g/t Silver - "Apogee Minerals Ltd. (TSX VENTURE:APE - News) reports results from its exploration drilling program at the Pulacayo deposit located in southwest Bolivia (the "Pulacayo Deposit"). This drilling has successfully extended the high grade portion of the Pulacayo Deposit along strike to the east an additional 350 meters from the previously released National Instrument 43-101 ("NI 43-101") resource (See Press Releases dated March 15, 2010, January 15, 2010 and February 10, 2009 and the NI 43-101 compliant technical report dated December 2008 filed under the SEDAR profile of the Company at http://www.sedar.com/)." More
- April 20, 2010 | Item | ShareThis


Australia's Super Pit gold mine reopens after quake - "Australia's biggest gold mine, Kalgoorlie's Super Pit, started reopening late on Tuesday after it was evacuated and closed due to an earthquake earlier in the day, the mine's owner said." More
- April 20, 2010 | Item | ShareThis


Australia's Kalgoorlie mines all closed-union boss - "All mines in Australia's Kalgoorlie region have been evacuated and closed following a magnitude 5.2 earthquake, mining union officials said on Tuesday." More
- April 20, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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© 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 20 April, 2010 | |


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