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-- Posted 13 May, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $1229.00 | -$13.70 | Silver | $19.42 | -$0.20 | XAU | 182.76 | -1.77% | HUI | 483.98 | -1.58% | GDM | 1452.30 | -1.61% | JSE Gold | 2539.40 | -17.82 | USD | 85.36 | +0.52 | Euro | 125.32 | -0.88 | Yen | 107.93 | +0.63 | Oil | $74.40 | -$1.25 | 10-Year | 3.564% | -0.003 | T-Bond | 120.53125 | +0.21875 | Dow | 10782.95 | -1.05% | Nasdaq | 2394.36 | -1.26% | S&P | 1157.44 | -1.22% |
The Metals: Gold fell almost 1% in London before it climbed back higher in morning New York trade and saw a 13 cent gain at $1242.83 by about 11:30AM EST, but it then fell back off in the last couple of hours of trade and ended near its session low of $1227.35 with a loss of 1.1%. Silver rose almost 1% to as high as $19.806 before it also fell back off in late trade and ended with a loss of 1.02%. Euro gold fell to almost €976, platinum lost $3 to $1731.50, and copper rose 4 cents to about $3.22. Gold and silver equities waffled on either side of unchanged for most of the morning, but they then fell back off in afternoon trade and ended with almost 2% losses. The Economy: Report | For | Reading | Expected | Previous | Import Prices | Apr | 0.9% | - | 0.5% | Import Prices ex-oil | Apr | 0.5% | - | 0.2% | Export Prices | Apr | 1.2% | - | 0.7% | Export Prices ex-ag. | Apr | 1.4% | - | 0.7% | Initial Claims | 5/08 | 44K | 440K | 448K |
U.S. Home Seizures Reach Record in Sign Recovery Is Delayed Bloomberg PIMCO's El-Erian sees U.S. inflation in medium term Reuters Foreclosures down 2 percent from last year Yahoo Report: April consumer spending falls from March Yahoo Mortgage rates drop to lowest level this year Yahoo Tomorrow at 8:30AM EST brings Retail Sales for April expected at 0.2%. Excluding autos, sales are expected at 0.5%. At 9:15 is Capacity Utilization for April expected at 73.9% and Industrial Production expected at 0.8%. At 9:55 is Michigan Sentiment for May expected at 73.5, and at 10AM is the Business Inventories report for March expected at 0.4%. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell below $75 a barrel as the U.S. dollar index rose on continued debt worries in Europe that sent the euro lower. Treasuries fell after today’s $16 billion 30-year note auction drew a high yield of 4.490% with a bid to cover of 2.60, but they then rose in late trade and ended with slight gains as the Dow, Nasdaq, and S&P fell back off into the close on mixed earnings reports and economic data. Among the big names making news in the market today were Kohl’s, Sony, SAP, Anadarko, Ford, Cisco, and Visteon. The Commentary: “Gold's rise on Tuesday did not go unopposed. Gold open interest rose another 6,636 contracts. Total gold o.i. is now up to 583,504 contracts. There was big volume, but lots of roll-overs. Don't forget that options expiry for the June contract is on May 26th... and roll-over and spread trades will take up a larger portion of each day's volume as we get closer to that date. Silver's big rally on Tuesday ran into a into a not-for-profit-seller, as open interest jumped a very large 3,263 contracts on absolutely monstrous volume of about 60,000 contracts. The CME Delivery Report yesterday showed that 226 gold and 18 silver contracts were posted for delivery on Friday. All the 'action' is linked here. The GLD ETF took another big chunk of gold into its inventory yesterday. This time it was 557,785 troy ounces... 17.3 tonnes. Not too shabby. There was no change in SLV yesterday... BUT there was an increase on Tuesday which I neglected to report. On that day, SLV added 882,147 troy ounces. I finally have a report on last week's activity in the ETFs over at Switzerland's Zürcher Kantonalbank. Their gold ETF added 69,308 ounces... and, once again, their silver ETF turned in another big week... this time receiving 1,233,277 troy ounces. I thank Carl Loeb for finally digging up these numbers. The U.S. Mint had a busy day on Wednesday as well. They reported selling another 11,500 one-ounce gold eagles... 5,000 24k-gold buffaloes... and 30,000 silver eagles. Month-to-date, the mint has sold 57,000 one-ounce gold eagles... 33,500 24k-gold buffaloes... and 1,508,500 silver eagles. It would be my guess that most of these [plus most of what the mint sold last week] ended up in Europe. The Comex-approved depositories showed a small increase of 76, 083 troy ounces of silver.”– From Ed Steer’s Gold & Silver Daily, read the full report here. GATA Posts: 
Peter Brimelow: Gold has bugs gasping, gloating -- but still bullish Join GATA at the Vancouver conference June 6 and 7 IMF plots world money issuance without accountability, Rickards tells King True North strong but not free yet as Barrick blocks mining book On CNBC, GLD is dissed for not investing in physical gold Gold regaining its place as the ultimate money The Statistics: Activity from: 5/12/2010 Gold Warehouse Stocks: | 10,351,042 | -2,770 | Silver Warehouse Stocks: | 115,555,760 | -602,209 |
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 | 1209.499 | 38,886,611 | US$48,112m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 118.75 | 3,817,947 | US$4,737m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 476,164 | US$564m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 47.23 | 1,518,342 | US$1,879m | NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,976 | US$6m |
Note: SPDR added 17.349 tonnes to a new record high holding and the LSE added 0.1 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 81.79: +0.92 change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 9,115.15 - No change from yesterday’s data. The Miners: Great Basin’s (GBG) mine development, Gammon Gold’s first quarter results and need to restate and re-file its audited consolidated financial statements for 2008 and 2009, First Majestic’s (FR>TO) first quarter results, and Silvercorp’s (SVM.TO) dividend were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Taseko | TGB +8.33% $5.98 | 2. Lihir | LIHR+0.91% $36.63 | 3. Richmont | RIC +0.88% $4.63 |
LOSERS 1. Allied Nevada | ANV -6.90% $20.25 | 2. Almaden | AAU -6.20% $1.21 | 3. Kimber | KBX -5.41% $1.05 |
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: First Majestic Silver Corp.: First Quarter Marks 5th Consecutive Quarter of Net Income - "First Majestic has now had five consecutive quarters of net income and consistent advancements in production and cash flows due to continuing growth in production resulting from the expansion of operations, the most recent being the completion of the new plant at the La Encantada Silver Mine. As this new plant at La Encantada reached commercial production on April 1, 2010, the net earnings on the sale of silver will now be recorded in the Company's statement of income rather than being capitalized, as it was in the first quarter of 2010. Had the Company included the additional $2.3 million of profit in the first quarter, mine operating earnings would have been $9.7 million rather than $5.4 million resulting in an EPS of $0.06 instead of $0.03." More
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Prospero Announces Outcome of Its Annual General Meeting - More
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Colossus Minerals Inc. Announces Socio-Economic Agreement With the Municipality of Curionopolis - More
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Pacific Comox Resources Ltd.: Comox's Leach Test # 2 on a 12.9 Tonne Sample Gave Recoveries of 70% for Gold and 55% for Silver - More
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Kodiak Drills New High Grade Zone at Hercules: 1.5 Metres Grading 18.9 gpt Gold, Exploration Continues - More
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Frontline Gold Identifies New Gold Zones and Commences Drilling at Niaouleni Project, Mali - More
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Arehada Provides Update on Sale of Subsidiary - More
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Vena Increases Its Holdings in Amantina/Esquilache Gold Region - More
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Anaconda Mining announces exercise of warrants and provides Pine Cove expansion update - More
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Amex to Conduct Airborne Magnetic and Radiometric Survey in Mexico - More
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Andean American Appoints Bruce Ramsden and Mark Zabel to Executive Positions - More
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ICN Resources Ltd.: Exploration Update - More
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Black Tusk Minerals Completes Registration of Altococha Mineral Claims in Peru - More
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Valterra Resource Corporation: Airborne Geophysics Commences at the Star Project in SE BC - More
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Yale Samples Bonanza Grade Silver at Guadalupe - More
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Northrock Announces Non-Brokered Private Placement for Turner Lake Gold Project, Nunavut - More
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Element92 Resources Corp. Appoints Chief Operating Officer - More
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Skyline Announces Initiation of New Preliminary Economic Assessment Report Project for Bronson Slope Deposit - More
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First Gold Exploration inc. : Assay Results Confirm the Size of the New Structure Discovered More Than 500 Metres From the Rose Showing - More
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Mountain Boy Minerals Ltd.: New High Grade Gold Zone Discovered Beneath Historic Dunwell Mine Workings-Crews Remobilized and Drilling Resumed - More
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Golden Valley Mines: Significant Gold Mineralization Intersected in 25 Drillholes on the Malartic CHL Prospect-Results Include 109 Metres Averaging 0.83 g/t Au - More
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Nebu Commences Drilling at the Bonanza Property, Near Historic Naybob Mine-Provides Exploration Update - More
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Lions Gate Metals Announces $1,500,000 Financing - More
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New Global to Acquire El Tesoro Mine in Colombia - More
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Laurion Reports High Grade Gold up to 95 g/t gold from Vein Showings and up to 10.20 g/t gold from Dump Samples at the Quebec Sturgeon Property, Beardmore, Ont. - More
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U.S. should deter foreign mining in Eritrea-report - "Mining companies should be deterred from working in Eritrea and banned from raising capital or listing their securities in the United States due to Eritrea's rights abuse record, a U.S.-commissioned report said. The United States Commission on International Religious Freedom (USCIRF) said Eritrea's systematic violation of religious freedoms should mean prohibitive restrictions for foreign firms joining the nation's impending gold mining boom." More
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Bell Copper Corporation - Sombrero 43-101 Technical Report - More
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European Goldfields Limited - Results for Q1 2010 - More
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Liberty Silver Corp. Closes $1.0 Million Private Placement - More
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Argonaut Gold Ltd. Reports Completion of its Phase I-2010 Resource Expansion Program at the El Castillo Mine in Durango, Mexico - More
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Fire River Gold Announces 1.4 Opt (47 g/t) Gold Over 13 Ft (4 m) Nixon Fork Gold Mine, Alaska - More
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Orezone Gold Corporation: Additional Positive Infill and Expansion Drilling Results at Bombore - More
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Paragon Minerals and GFE Capital Begin Drilling on the Winterhill VMS Project, Newfoundland - More
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Continental Gold Appoints Paul Murphy to its Board of Directors - More
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Mineral Deposits Limited: Share Purchase Plan Extension Documentation - More
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Terra Ventures Retains Cormark as Adviser on Strategic Options to Further Enhance Shareholder Value - More
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Levon's Phase 2 Drilling at Cordero Returns 114 m Grading 126 g/t Ag, 0.485 g/t Au, 0.93% Zn, 2.18% Pb - More
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Valley High Reports Drilling at Cordero Project, Mexico: 114 m Grading 126 g/t Ag, 0.49 g/t Au, 0.93% Zn and 2.18% Pb Including 26 m of 410 g/t Ag, 1.06 g/t Au - More
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Pacific Bay Options Northern BC Silver Property - More
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Arcus Development Group Inc.: Yukon and Mexican Project Update - More
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Silver America, Inc. Announces High Grade Silver Results for Mexico Project Including 1,800 g/t - More
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Superior Mining International Executes Final Agreement With Minco Holdings - More
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Quadra Mining Ltd. Announces Strong 2010 First Quarter Financial Results - More
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Cancor Completes Its $1,000,000 Private Placement by Raising an Additional $500,000 - More
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East Asia Minerals Further Opens the Miwah Main Zone; Encounters 1.77 g/t Gold Over 65 Metres Within 159 Metres Grading 1.01 g/t Gold - More
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Creston Moly Corp. Announces Start-Up of Phase 2 Drill Program at El Creston - More
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Canadian Shield to Prepare NI 43-101 Technical Report on Colpayoc Gold Project, Peru - More
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Goldstone Resources Exploration Update - More
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Sociedad Minera Licancabur S.A. Utilizes APOsm Service to Go Public and Complete $5.8 Million Private Financing - More
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Denison Announces Expanded Summer Exploration Program on Wheeler River Property - More
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Avion Continues Exploration Success - More
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Marathon PGM Announces 8,000 Meter Drilling Program for Valentine Lake Gold Project - More
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Mountain Lake Announces 8,000 Meter Drill Program for Valentine Lake and the Leprechaun Gold Deposit - More
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Timmins Gold Corp.: Gold Mineralization Extended 500 Meters to Southwest of San Francisco Pit - More
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General Metals Receives Initial 43-101 Technical Report and Resource Estimate for Independence Property - More
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FNX Reports First Quarter Results - More
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Paladin Energy Ltd: Financial Report for the Nine Months Ending 31 March 2010 - More
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American Manganese Reports 24.38 Meters (80 Feet) Grading 4.91% Mn in Drill Hole 24 - More
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Golden River Resources Purchases Slave Properties in Northern Canada - More
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Weststar Expands Yukon McKinnon Gold Claims - More
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European Goldfields Ltd announces Q1 2010 Results - More
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Chesapeake Announces Stock Option Grant - More
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Great Basin Completes Holing of Ventilation Shaft and Updates on Delivery of Mills at Burnstone - "Great Basin Gold Ltd. ("Great Basin" or the "Company") (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces that it reached yet another milestone at its Burnstone mine development project in South Africa with the completion of the raise boring phase, or holing, of the ventilation shaft." More
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Gammon Gold Reports Changes in Foreign Exchange Translations Requiring a Restatement of 2008 and 2009 Financial Statements - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News): announced today that it intends to restate and re-file its audited consolidated financial statements and MD&A for the years ended December 31, 2009 and 2008." More
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Silvercorp Announces Declaration of Quarterly Dividend-CAD$0.02 - "Silvercorp Metals Inc. (TSX:SVM - News)(NYSE:SVM - News) ("Silvercorp"), the largest primary silver producer in China, is pleased to provide notice of its next dividend: Quarterly Dividend of CAD$0.02" More
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Gammon Gold Reports First Quarter Financial Results - Reports Strong Earnings and Operating Cash Flow - "During the past two quarters the Company dealt with unanticipated operational challenges that negatively impacted productivity in those quarters. The Company is focused on consistently delivering targeted productivity levels at our current operations and leveraging our strong balance sheet and cash flow profile for our growth plans." stated René Marion, President and Chief Executive Officer. He continued, "With a view to the future, in 2010 our near term focus will include the development of Santa Eduviges, our second underground mine at Ocampo, the completion of a scoping study at our advanced exploration property, Guadalupe y Calvo, the success of our company-wide exploration program and the active pursuit of accretive acquisitions including the recent earn-in deals at the Mezquite project in the Penasquito/Comino Rojo district and the Venus project in the Ocampo/Pinos Altos district." More
- May 13, 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 13 May, 2010 | |
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