-- Posted 27 May, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1212.50 | -$0.60 |
Silver | $18.44 | +$0.15 |
XAU | 175.60 | +2.85% |
HUI | 458.24 | +2.62% |
GDM | 1384.02 | +2.58% |
JSE Gold | 2533.96 | -54.71 |
USD | 86.26 | -0.96 |
Euro | 123.59 | +1.90 |
Yen | 109.94 | -1.38 |
Oil | $74.55 | +$3.04 |
10-Year | 3.338% | +0.120 |
T-Bond | 122.9375 | -1.53125 |
Dow | 10258.99 | +2.85% |
Nasdaq | 2277.68 | +3.73% |
S&P | 1103.06 | +3.29% |
The Metals:
Gold climbed $5.13 to as high as $1218.23 in Asia before it fell back in London to as low as $1205.60 by about 8:30AM EST and then rallied back higher for most of the morning in New York, but it then fell back off in the last couple of hours of trade and ended with a loss of 0.05%. Silver climbed to as high as $18.548 by about 11:15AM EST before it also fell back off into the close, but it still ended with a gain of 0.82%.
Euro gold fell to about €979, platinum gained $25 to $1550, and copper rose 8 cents to about $3.15.
Gold and silver equities rose over 2% by midmorning and remained near their highs into the close.
The Economy:
Report | For | Reading | Expected | Previous |
GDP | Q1 | 3.0% | 3.3% | 3.2% |
GDP Deflator | Q1 | 1.0% | 0.9% | 0.9% |
Initial Claims | 5/22 | 460K | 455K | 474K |
Mortgage rates sink to lowest this year Yahoo
Tomorrow at 8:30AM EST brings Personal Income for April expected at 0.4%, Personal Spending expected at 0.3%, and Core PCE Prices expected at 0.1%. At 9:45 is Chicago PMI for May expected at 60.0, and at 9:55 is Michigan Sentiment for May expected at 73.2.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose another 4% as the U.S. dollar index and treasuries fell markedly on China’s reaffirmed confidence in Europe that eased worries over the ongoing debt crisis and sent the Dow, Nasdaq, and S&P roughly 3% higher. Today’s $31 billion 7-year note auction drew a yield of 2.815% with a bid to cover of 2.88.
Among the big names making news in the market today were Costco, Big Lots, Lehman Brothers, Tiffany’s, and Mirion Technologies.
The Commentary:
“Dear CIGAs,
Whatever OTC derivatives do not do to the investment banks, litigation will. Litigation is both civil and criminal. No civil suit based on derivatives can ever go to judgment by jury because it will be a stone cold loser. Even a bench trial would present significant risk to the defendant.
OTC derivatives are the basic problem about which nothing has been done and nothing will be done. That secures the final end which is gold as the only standard, measure and storehouse of value functioning as a medium exchange. By definition that is what money is.
Gold is the only money that can be trusted as debt is being added to debt in a ridiculous plan to cure a problem.
The fiat system is cooked, and there is simply no good paper currency.
The face of this world is about to change. Sir Richard Russell is correct.
Please protect yourselves because you must. I can point you in the right direction. It is you must take action.”- Jim Sinclair, JSMineset.com
Lehman Sues JPMorgan for Billions of Dollars in ‘Lost Value’ Bloomberg
GATA Posts:
Judy Shelton: The recovery starts with sound money
Brett Arends: Why I don't trust gold
British gold fund manager cites GATA on CNBC Europe
The Statistics:
Activity from: 5/26/2010
Gold Warehouse Stocks: | 10,736,219 | -32 |
Silver Warehouse Stocks: | 118,520,960 | +1,098,991 |
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 | 1267.626 | 40,755,438 | US$49,337m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 121.24 | 3,898,131 | US$4,734m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 476,093 | US$555m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 45.64 | 1,467,256 | US$1,778m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,975 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.304 tonnes to a new record high holding and the LSE added 0.01 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 83.61:+0.61 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,191.37 - No change from yesterday’s data.
The Miners:
Rubicon’s (RBY) drill results, Impact’s (IPT.V) first quarter results, and SilverCrest’s (SVL.V) commenced mining were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG+10.81% $1.64 |
2. Rubicon | RBY +9.79% $3.59 |
3. Ivanhoe | IVN +8.51% $14.67 |
LOSERS
1. Aurizon | AZK-0.62% $4.84 |
2. Vista | VGZ-0.53% $1.86 |
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:
Avanti Mining announces appointment of Bob Jacko to its management - More
- May 27, 2010 | Item | ShareThis
ESO Uranium Completes $2,000,000 Private Placement - More
- May 27, 2010 | Item | ShareThis
Kennecott Eagle Minerals Company Readies Site for Mine Surface Facility Construction; Protest Group Given Alternate Location for Camp - More
- May 27, 2010 | Item | ShareThis
GWR Resources Successfully Deepens Gold-rich Aurizon South Zone - More
- May 27, 2010 | Item | ShareThis
Dynasty Receives Reconfirmation of Title to All Previously Held Mining Concessions - More
- May 27, 2010 | Item | ShareThis
EMC Metals Files Independent Technical Report and Resource Estimate on Carlin Vanadium Project, Nevada - More
- May 27, 2010 | Item | ShareThis
Northern Superior Resources Inc. Closes Ti-pa-haa-kaa-ning Gold Property Purchase Agreement with Lake Shore Gold Corp. - More
- May 27, 2010 | Item | ShareThis
Lake Shore Gold Completes Sale of 50% Interest in Ti-pa-haa-kaa-ning Joint Venture, Acquires 19.95% Interest in Northern Superior Resources - More
- May 27, 2010 | Item | ShareThis
Century Reports First Quarter 2010 Financial Results - More
- May 27, 2010 | Item | ShareThis
Gold Canyon to Undertake $2,000,000 Private Placement Offering of Flow-Through Units - More
- May 27, 2010 | Item | ShareThis
First Gold and Blue Note Commences Drilling at Croinor - More
- May 27, 2010 | Item | ShareThis
Nevada Copper Increases Drilling Program - More
- May 27, 2010 | Item | ShareThis
IMPACT SILVER ANNOUNCES FIRST QUARTER REVENUES UP 154%, MINE OPERATING EARNINGS UP 101% - "Despite the marginal decrease in silver production, IMPACT had a very successful first quarter. Higher silver prices coupled with the absence of a sales disruption the Company experienced with its largest customer in the first quarter of 2009, contributed to increased silver sales during the quarter producing $1.4 million in positive cash flow and net earnings of $0.6 million, compared to $0.07 million in first quarter 2009." More
- May 27, 2010 | Item | ShareThis
Pelangio Exploration Announces Further Drill Results From the Obuasi Property - More
- May 27, 2010 | Item | ShareThis
Lucky Boy Silver Corp. Adds to Holdings at Black Butte - More
- May 27, 2010 | Item | ShareThis
Eloro Discovers Two New Mineralized Zones as it Completes Winter Diamond Drilling Program at the Simkar Gold Project; Additional Drilling Planned - More
- May 27, 2010 | Item | ShareThis
Landen Announces Warrant Exercise for Proceeds of $1,861,300 and Appoints Jens Hansen as New Director - More
- May 27, 2010 | Item | ShareThis
Bravada Prepares to Drill Signal Project in Early June - More
- May 27, 2010 | Item | ShareThis
Golden Valley Mines Ltd.: Significant Gold Mineralization Intersected on the Malartic CHL Prospect - More
- May 27, 2010 | Item | ShareThis
Amarillo Receives Updated Resource Estimate for the Mara Rosa Project: 623,000 oz in 11.9MT @ 1.62g/t Gold Indicated - More
- May 27, 2010 | Item | ShareThis
GobiMin Announces First Quarter 2010 Results - More
- May 27, 2010 | Item | ShareThis
Laurion to Commence 2010 Diamond Drill Program on the Sturgeon River Property, Beardmore, Ontario - More
- May 27, 2010 | Item | ShareThis
Alexandria Intersects 2.01 g/t Au Over 78.77 m at Akasaba, Begins Next Round of Drilling - More
- May 27, 2010 | Item | ShareThis
Quest Rare Minerals Appoints Robert L. Leclerc as Chairman of the Board of Directors - More
- May 27, 2010 | Item | ShareThis
Eaglecrest Engages SRK Consulting to Complete Resource Estimate on Dona Amelia Gold Zone, San Simon Property, Bolivia - More
- May 27, 2010 | Item | ShareThis
Fission Assays Confirm Continuity of High Grade Uranium Mineralization at "J-Zone" - More
- May 27, 2010 | Item | ShareThis
Canadian Arrow reports Turtlepond Phase II drill results and provides update on projects - More
- May 27, 2010 | Item | ShareThis
Fortune River Files Technical Report for Wind Mtn PEA - More
- May 27, 2010 | Item | ShareThis
SLAM drilling gold discovery - More
- May 27, 2010 | Item | ShareThis
Conquest Resources Limited: First Deep Hole Completed at Alexander Gold Project - More
- May 27, 2010 | Item | ShareThis
Anglo Swiss Resources Inc. Completes Airborne Survey and Identifies 3 Major Conductive Zones on the Nelson Mining Camp - More
- May 27, 2010 | Item | ShareThis
Wealth Signs Option to Acquire Argentina's Largest Rare Earth Element Deposit 'Rodeo de Los Molles', San Luis Province, Argentina - More
- May 27, 2010 | Item | ShareThis
StoneShield Increases Financing to C$941,250 from C$750,000 - More
- May 27, 2010 | Item | ShareThis
DPM Completes Settlement Agreement of NCS Obligations With LDC - More
- May 27, 2010 | Item | ShareThis
Anfield Intersects 45.00 Meters Grading 1.56% Nickel Including 21.60 Meters Grading 2.02% Nickel/Announces Preliminary Results of its Metallurgical Program - More
- May 27, 2010 | Item | ShareThis
Serengeti Completes Airborne Survey at Tchentlo - More
- May 27, 2010 | Item | ShareThis
Midland Exploration's Partner Agnico-Eagle Intersects a New Gold Zone at Shallow Depth on Maritime-Cadillac - More
- May 27, 2010 | Item | ShareThis
Hudson Provides Update on Drilling Program at Sarfartoq Rare Earth Project in Greenland - More
- May 27, 2010 | Item | ShareThis
Magellan Extends Meio Zone at Coringa Project, Brazil and Expands Drill Program - More
- May 27, 2010 | Item | ShareThis
Anglo Swiss Resources Inc. Completes Airborne Survey and Identifies 3 Major Conductive Zones on the Nelson Mining Camp - More
- May 27, 2010 | Item | ShareThis
Silver America, Inc. to Initiate Keeno Strike Exploration - More
- May 27, 2010 | Item | ShareThis
Malbex Intersects 22 m of 2.75 g/t Au in Drilling at Del Carmen Norte - More
- May 27, 2010 | Item | ShareThis
Amarc Launches Field Programs at Newton Property and Throughout Plateau Gold-Copper Belt to Explore for Major Gold-Copper Deposits - More
- May 27, 2010 | Item | ShareThis
Uranium Energy Corp Receives Disposal Well Permits for the Goliad ISR Project in South Texas - More
- May 27, 2010 | Item | ShareThis
Gold Zones With Strike Lengths of 1.8 km and 1.6 km Delineated on Sian-Ghana - More
- May 27, 2010 | Item | ShareThis
UEX Appoints Walter Segsworth and David Rhys to its Management Advisory Board - More
- May 27, 2010 | Item | ShareThis
Terra Ventures Inc.: New Zones Discovered at Roughrider Return Assays as High as 22.50 m of 11.31 % U3O8 - More
- May 27, 2010 | Item | ShareThis
Trelawney Intersects 10.06 Metres of 15.58 g/t Gold Between the Cote Lake and Chester 2 Deposits - More
- May 27, 2010 | Item | ShareThis
Harte Announces $3,879,700 Initial Closing Under Private Placement - More
- May 27, 2010 | Item | ShareThis
Hathor Exploration Limited: New Zones Discovered at Roughrider; Return Assays as High as 22.50 m of 11.31% U3O8 - More
- May 27, 2010 | Item | ShareThis
Canaco Extends Strike of Magambazi Gold Zone to 700 m, With New Results of 60 Metres at 1.67 Grams Per Tonne Au - More
- May 27, 2010 | Item | ShareThis
North American Palladium Updates Resource Estimate for Offset Zone - More
- May 27, 2010 | Item | ShareThis
Kent Intersects 11.09 g/t Au Over 18 Meters, Including 1 Meter at 99.1 g/t Au at Bunarra Prospect, Gnaweeda Gold Project - More
- May 27, 2010 | Item | ShareThis
RockBridge Updates Projects - More
- May 27, 2010 | Item | ShareThis
Stronghold Enters Into Definitive Agreement to Acquire Mineracao Vale Do Sonho Ltda. - More
- May 27, 2010 | Item | ShareThis
Rubicon Intersects 1.24 oz/ton Gold Over 22.5 feet True Thickness Close to Proposed Drift Location at F2 Core Zone, Red Lake, Ontario - "Rubicon Minerals Corporation (RMX:TSX: / RBY:NYSE-AMEX) is pleased to announce results from drill hole 305-05 at its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. This hole is significant as it represents the first test from the underground 305 metre level across the F2 Core Zone in the area of the intended cross-cut (Figure 1). The hole trace is sub-horizontal with a dip of minus 5.8 degrees across the zone and intersects the gold-bearing stratigraphy at near right angles. Reported lengths are thus interpreted to be true thicknesses. The hole intersected 1.24 oz/ton gold over 22.6 feet (42.5 g/t gold over 6.9 metres) part of a broad vein zone grading 0.59 oz/ton gold over 49.2 feet (20.1 g/t gold over 15.0 metres). New results are presented in Table 1 and Figure 1." More
- May 27, 2010 | Item | ShareThis
SilverCrest's Santa Elena Mine Gears Up For Production - "SilverCrest Mines Inc. (TSX VENTURE:SVL - News; FRANKFURT:CW5 - News; the "Company") is pleased to report that initial mining has commenced in the Santa Elena open-pit with the first mining benches providing approximately 30,000 tonnes of ore to the coarse ore stock pile at the crusher. The Company has tested the 3-stage crusher with final adjustments underway. Construction is currently under budget and on schedule for a first metal pour this summer." More
- May 27, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 27 May, 2010 | |
