-- Posted 30 April, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1179.85 | +$11.95 | +2.32% |
Silver | $18.60 | +$0.09 | +2.42% |
XAU | 179.02 | +0.24% | +3.82% |
HUI | 463.65 | +0.65% | +4.86% |
GDM | 1395.77 | +0.69% | +5.09% |
JSE Gold | 2409.70 | +27.43 | +4.18% |
USD | 81.83 | -0.17 | +0.50% |
Euro | 133.15 | +0.89 | -0.40% |
Yen | 106.41 | +0.05 | +0.05% |
Oil | $86.15 | +$0.98 | +1.21% |
10-Year | 3.663% | -0.065 | -4.03% |
Bond | 119.03125 | +0.8125 | +1.65% |
Dow | 11008.61 | -1.42% | -1.75% |
Nasdaq | 2461.19 | -2.02% | -2.73% |
S&P | 1186.68 | -1.67% | -2.51% |
The Metals:
Gold steadily rose throughout most of trade in Asia, London, and New York and ended near its noontime (EST) high of $1181.60 with a gain of 1.02%. Silver rose to as high as $18.75 by late morning before it fell back off in the last couple of hours of trade, but it still ended with a gain of 0.49%.
Euro gold rose to about €887, platinum gained $8 to $1737.50, and copper remained at about $3.37.
Gold and silver equities traded roughly 2% higher for most of the morning before they fell back off a bit in afternoon trade, but they still ended with slight gains.
The Economy:
Report | For | Reading | Expected | Previous |
GDP | Q1 | 3.2% | 3.3% | 5.6% |
Chain Deflator | Q1 | 0.9% | 1.0% | 0.5% |
Employment Cost Index | Q1 | 0.6% | 0.5% | 0.4% |
Chicago PMI | Apr | 63.8 | 59.9 | 58.8 |
Michigan Sentiment | Apr | 72.2 | 71.0 | 69.5 |
All of this week’s other economic reports:
Next week’s economic highlights include Personal Income and Spending, Construction Spending, and the ISM Index on Monday, Factory Orders on Tuesday, ADP Employment and ISM Services on Wednesday, Initial Jobless Claims and Productivity on Thursday, and April’s jobs data and Consumer Credit on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as the U.S. dollar index fell again on continued bailout hopes for Greece that sent the euro higher.
Treasuries rose as the Dow, Nasdaq, and S&P fell over 1% on uncertainty over Greece, worries over Goldman’s criminal investigation, and mixed economic data.
Among the big names making news in the market Friday were United and Continental, BP, Goldman Sachs, and Chevron.
The Commentary:
“We certainly live in interesting times. The European Union, European Central Bank... and the IMF are wringing their hands about the European contagion that will soon spread throughout the world. But here is nothing they can do about it. They are doomed whether they turn on the printing presses or not. It's death by deflation... or death by hyperinflation. Re-pricing gold... and a return to some sort of international gold standard... is the only viable solution left. Russia and China have got that figured out already. I'm sure that virtually every ounce their digging out of the ground these days is going straight into the vaults of their respective central banks. I hope, dear reader, that you've got that figured out, too.”– From Ed Steer’s Gold & Silver Daily, read the full report here.
“U.S. Stock Market – I continue to look for more and more people to buy into the “Happy Days Are Here Again” belief and for the DJIA to continue working higher into the June/July time frame. The mother of all bear market rallies has some punch left in it but don’t get comfortable as we shall be keeping an eye on the exit.
Interest Rates – Without the Fed buying trillions of a terminally ill paper, I believe rates would’ve been much higher. When the house of cards comes apart again, I don’t anticipate the Fed being in a position to flood the market with liquidity again. I would avoid any bond or CD maturities longer than two years.
Gold – Forgive me for being a little giddy by just wanting to say to the overwhelming number of gold perma-bears, people who called gold in a bubble and the vast majority who recommended shying away from it and haven’t been able to get back in, the following.
U.S. Dollar – I continue to see it attempting to work towards my target of 83-84 basis the U.S. Dollar Index.
Oil and Gas – Oil to $90+, Natural Gas as low as $2 possible this year.”- Peter Grandich, Grandich Letter
GATA Posts:
In Rolling Stone, Matt Taibbi mentions precious-metals Ponzi schemes
Criminal probe looks into Goldman Sachs trading
Moore Capital fined in platinum manipulation case
The Statistics:
Activity from: 4/29/2010
Gold Warehouse Stocks: | 10,184,333 | +35,841 |
Silver Warehouse Stocks: | 116,177,538 | +749,586 |
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 | 1159.002 | 37,263,058 | US$43,926m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 114.68 | 3,682,660 | US$4,348m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 476,231 | US$540m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.18 | 1,581,165 | US$1,845m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,977 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.089 tonnes to a new record high holding and the LSE subtracted 0.45 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 78.61 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 8,912.94 - No change from yesterday’s data.
The Miners:
Capital Gold’s (CGC) third quarter production and management changes, Gold Fields’ (GFI) increasing production at the Damang gold mine, and Penoles’ first quarter profit were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Kimber | KBX+5.66% $1.12 |
2. Paramount | PZG+4.97% $1.90 |
3. Aurizon | AZK+4.20% $5.71 |
LOSERS
1. ITH | THM -3.57% $7.02 |
2. Ivanhoe | IVN -3.54% $15.82 |
3. Capital Gold | CGC -3.43% $3.66 |
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:
Galahad Metals Inc.: Shares for Sidex Interest & Principal - More
- April 30, 2010 | Item | ShareThis
Renforth Resources Files Audited Annual Financial Statements - More
- April 30, 2010 | Item | ShareThis
Platinex Issues Common Shares - More
- April 30, 2010 | Item | ShareThis
Breakwater Resources Ltd. Announces One for Ten Share Consolidation - More
- April 30, 2010 | Item | ShareThis
Molycor Amends Terms of Non-Brokered Private Placement - More
- April 30, 2010 | Item | ShareThis
Everton: Correction to Private Placement Press Release of April 27th, 2010 - More
- April 30, 2010 | Item | ShareThis
Glass Earth Gold Limited: Financial Statements and Management's Discussion & Analysis for the Year Ended 31 December 2009 - More
- April 30, 2010 | Item | ShareThis
Golden Hope Mines Limited Closes Acquisition of Royalty Interest in Beauce Region of South Eastern Quebec - More
- April 30, 2010 | Item | ShareThis
Zaruma Resources Reports Delay in Filing Financial Statements - More
- April 30, 2010 | Item | ShareThis
Mexico miner Penoles posts Q1 net profit - "Mexico miner Penoles' profit rose dramatically in the first quarter due to record gold output at precious metals unit Fresnillo as metals prices rose.
Penoles, a base metals miner that controls Fresnillo Plc (FRES.L), the world's largest primary silver producer, said on Friday its first quarter profit was 1.975 billion pesos ($159 million), compared with a 255 million peso net loss in the 2009 quarter." More
- April 30, 2010 | Item | ShareThis
Aura Minerals Closes Acquisition of the Sao Francisco and Sao Vicente Gold Mines, Brazil - More
- April 30, 2010 | Item | ShareThis
Supatcha Resources Signs Letter of Intent to Acquire 98% of Maiskoe Gold Mine in Ukraine - More
- April 30, 2010 | Item | ShareThis
Hudson Announces Board Changes and Appointment of CFO - More
- April 30, 2010 | Item | ShareThis
Nass Valley Gateway Ltd. - Non-Brokered Private Placement - More
- April 30, 2010 | Item | ShareThis
BCGold Corp. Private Placement Oversubscribed and Completed at $1.2 Million - More
- April 30, 2010 | Item | ShareThis
Stans Energy Corp.: Rare Earth Project Updates for Kutessay II Mining and the Aktyuz Ore Field - More
- April 30, 2010 | Item | ShareThis
New Guinea Gold Corporation Announcement - More
- April 30, 2010 | Item | ShareThis
Amseco Exploration Ltd.: Acquisition of Gold Mining Claims in the Barry-Urban Mining Camp, Quebec - More
- April 30, 2010 | Item | ShareThis
TNR Gold Corp.: International Lithium Commences 2010 Exploration Program at Sarcobatus Flats, Nevada - More
- April 30, 2010 | Item | ShareThis
Consolidated Goldfields Releases Information on the Cahuilla Gold-Silver Project - More
- April 30, 2010 | Item | ShareThis
Minera IRL Limited Notice of Extraordinary General Meeting - More
- April 30, 2010 | Item | ShareThis
Big Bear Mining Corp. Engages Billiken Management for Work Programs in Red Lake Mining District - More
- April 30, 2010 | Item | ShareThis
Yale and Silver America Finalize Option for Guadalupe Property, Zacatecas State - Initial Field Program Finished - More
- April 30, 2010 | Item | ShareThis
Volta Resources Intersects 190 Meters at 0.95 g/t Gold at its Kiaka Gold Project in Burkina Faso - More
- April 30, 2010 | Item | ShareThis
Nirek Resources Inc., Guardians of Gold Inc. and Grit International Inc. File Preliminary Exchange Offer for Silver Dragon Resources Inc. - More
- April 30, 2010 | Item | ShareThis
Nord Resources Receives Further Extension from the TSX on Listing Review - More
- April 30, 2010 | Item | ShareThis
Uranium One Acquires Investment in Paladin - More
- April 30, 2010 | Item | ShareThis
Ur-Energy Reports First Quarter Results - More
- April 30, 2010 | Item | ShareThis
AXMIN Reports Drill Results in Senegal Including 3 Metres at 23.6 g/t Au and 2 Metres at 25.3 g/t Au - More
- April 30, 2010 | Item | ShareThis
Golden Hope Mines Extends its Drilling Contract for an Additional 2000 Meters - More
- April 30, 2010 | Item | ShareThis
Platinex Engages T2W Market Liquidity Inc. - More
- April 30, 2010 | Item | ShareThis
Pure Nickel Appoints R. David Russell as Chair of the Board - More
- April 30, 2010 | Item | ShareThis
Rare Earth Metals Inc Announces the Latest Results From the Clay-Howells Rare Earth Elements/Niobium/Iron Drill Program - More
- April 30, 2010 | Item | ShareThis
Valdez Gold and Millrock Resources Sign Definitive Agreement to Form A Joint Venture on Bluff Project in Alaska - More
- April 30, 2010 | Item | ShareThis
Glass Earth to Raise Up to C$3 Million - More
- April 30, 2010 | Item | ShareThis
Gurata Gold, Inc.-Gurata to Appoint New President - More
- April 30, 2010 | Item | ShareThis
Highland Meets Exploration Commitments; Acquires a 51% Interest in Properties in the Beardmore-Geraldton Area - More
- April 30, 2010 | Item | ShareThis
Mawson acquires 100% of Areva's Finnish exploration portfolio and Areva becomes significant Mawson shareholder - More
- April 30, 2010 | Item | ShareThis
Mantra Resources: Quarterly report to the Australian Securities Exchange for the period ending 31 March 2010 - More
- April 30, 2010 | Item | ShareThis
Explorator Resources Announces US$10.3 Million 2010 Budget for El Espino Project, With Updated Scoping Study Planned for Q3 2010 - More
- April 30, 2010 | Item | ShareThis
Alturas Signs Final Option Agreement to Acquire the La Corina Copper-Gold Project, Chile - More
- April 30, 2010 | Item | ShareThis
Tournigan Files Voluntary U.S. Deregistration - More
- April 30, 2010 | Item | ShareThis
St. Eugene Mining Corporation Announces Completion of Flow Through Financing for Amisk Lake Diamond Drilling and Tartan Lake Gold Mine - More
- April 30, 2010 | Item | ShareThis
Zincore Announces Renewal of Community Access Agreement - More
- April 30, 2010 | Item | ShareThis
Rusoro Announces Management Change - More
- April 30, 2010 | Item | ShareThis
Millrock Finalizes Option Agreement With Valdez; Exploration of Bluff Gold Prospect, Western Alaska, Set to Commence in June - More
- April 30, 2010 | Item | ShareThis
Threegold Resources Inc.: Preliminary Results From Second Drilling Program at Mercier Confirm Rare Earth Element (REE) Discovery - More
- April 30, 2010 | Item | ShareThis
Formation Metals Concludes Stage I Construction on Idaho Cobalt Mine - More
- April 30, 2010 | Item | ShareThis
Paladin Energy Ltd-Share Register Movement - More
- April 30, 2010 | Item | ShareThis
Tiger Resources Issues March 2010 Quarterly Report - More
- April 30, 2010 | Item | ShareThis
Solid Enters Into Agreement to Sell Interest In Bear Property and Eliminates Debt - More
- April 30, 2010 | Item | ShareThis
Capital Gold Corporation Announces Record Third Quarter Gold Production and Management Changes - "Capital Gold Corporation (NYSE AMEX: CGC; TSX: CGC) announced today that a record 16,506 ounces of gold were produced for the three months ended April 30, 2010 as compared to 13,460 ounces for the same period in the prior year, representing an increase of 22.6%. For the nine months ended April 30, 2010 and 2009, the Company produced 40,459 and 38,994 ounces, respectively." More
- April 30, 2010 | Item | ShareThis
Gold Fields' Damang Gold Mine To Raise Production - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that its Damang Gold Mine in Ghana is set to increase production significantly, following the successful construction and commissioning of a new Secondary Crushing Plant." More
- April 30, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 30 April, 2010 | |
