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Gold Seeker Closing Report: Gold and Silver Gain About 1%

By: Chris Mullen, Gold-Seeker.com


-- Posted 24 June, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1244.70

+$10.90

Silver

$18.69

+$0.23

XAU

178.67

-0.85%

HUI

476.29

-0.59%

GDM

1437.63

-0.57%

JSE Gold

2568.66

+22.56

USD

85.75

-0.04

Euro

123.26

+0.11

Yen

111.73

+0.43

Oil

$76.51

+$0.21

10-Year

3.123%

+0.008

T-Bond

125.03125

-0.3125

Dow

10152.80

-1.41%

Nasdaq

2217.42

-1.63%

S&P

1073.69

-1.68%

 
 

 

The Metals:

 

Gold saw slight gains in Asia before it fell in London and saw a $5.88 loss at $1227.92 by a little after 8AM EST, but it then rallied higher throughout most of trade in New York and ended near its late morning high of $1248.26 with a gain of 0.88%.  Silver followed a similar patter and ended near its late session high of $18.798 with a gain of 1.25%.

 

Euro gold rose to about €1008, platinum lost $2.50 to $1559.50, and copper rose nearly 7 cents to about $3.00.

 

Gold and silver equities saw modest losses in the first hour of trade before they rallied back higher midday, but they then fell back off in late trade and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

6/19

457K

460K

476K

Durable Orders

May

-1.1%

-1.3%

3.0%

Durable Orders ex. Trans.

May

0.9%

1.3%

-0.8%

 

Mortgage rates sink to lowest level on record  Yahoo

 

Tomorrow at 8:30AM EST brings first quarter GDP expected at 3.0% and the GDP Deflator expected 1.0%.  At 9:55 is Michigan Sentiment for June expected at 75.5.

 

The Markets:

 

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

 

Oil rose in late trade and ended with a small gain as the U.S. dollar index and treasuries simply remained near unchanged despite poor economic data that sent the Dow, Nasdaq, and S&P over 1% lower.

 

Among the big names making news in the market today were ConAgra, Dollar Thrifty, Discover financial, and Lennar.

 

GATA Posts:

 

 

U.S. intelligence debates China's use of bond holdings as weapon

But Jeff Christian says central banks hardly ever think about gold

 

The Statistics:

Activity from: 6/23/2010

Gold Warehouse Stocks:

10,858,390

-361

Silver Warehouse Stocks:

114,946,207

-283,669

 

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

1313.135

42,218,589

US$52,176m

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

Gold Bullion Securities

123.43

3,968,460

US$4,953m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,950

US$569m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.42

1,556,764

US$1,924m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,974

US$6m

Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.64 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 84.96 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9208.83 - No change from yesterday’s data.

 

The Miners:

 

Capital Gold’s (CGC) addition to the Russell 3000® Index, Banro’s (BAA) exploration results, Goldcorp’s (GG) mine suspension request, Minco’s (MSV.TO) project permitting update, and Apogee’s (APE.V) preliminary economic analysis results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  US Gold

UXG +4.95% $5.09

2.  Capital Gold

CGC+3.87% $4.03

3.  Nevsun

NSU +1.38% $3.67

 

LOSERS

1.  Ivanhoe

IVN -3.47% $14.73

2.  New Gold

NGD -2.95% $6.25

3.  Gammon Gold

GRS -2.77% $5.62

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:

UC Resources Announces Granting of Options - More
- June 24, 2010 | Item | ShareThis


Golden Hope Mines Engages Resourcex Group for Investor Relation Services - More
- June 24, 2010 | Item | ShareThis


Nanika Receives Assay Results for Herb Lake Manitoba Property - More
- June 24, 2010 | Item | ShareThis


SLAM drills additional mineralization in Williamson gold deposit - More
- June 24, 2010 | Item | ShareThis


Chairman William M. Sheriff Increases Ownership in Golden Predator - More
- June 24, 2010 | Item | ShareThis


Firestone Ventures Intersects 10 Metres Grading 20.0% Zinc, 1.2% Lead and 13.9 g/t Silver at Quetzal Project - More
- June 24, 2010 | Item | ShareThis


Millrock Commences Drilling at Council (Alaska) Joint Venture With Kinross Gold - More
- June 24, 2010 | Item | ShareThis


Augen Gold Corp. Announces Appointment of Chief Financial Officer - More
- June 24, 2010 | Item | ShareThis


Firestone Ventures Intersects 10 Metres Grading 20.0% Zinc, 1.2% Lead and 13.9 g/t Silver at Quetzal Project - More
- June 24, 2010 | Item | ShareThis


Duncastle Commences Airborne Survey at Porphyry Creek - More
- June 24, 2010 | Item | ShareThis


Otterburn Announces Up to $200,000 Private Placement - More
- June 24, 2010 | Item | ShareThis


Selva Resources Announces Production Agreement Signed to Supply Gold Ores - More
- June 24, 2010 | Item | ShareThis


Astral Begins Earn-In of 40% Interest in JJ Property - More
- June 24, 2010 | Item | ShareThis


Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividend on Common Stock - "Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX - News) today declares a cash dividend of $0.30 per share payable on August 1, 2010 to holders of record as of July 15, 2010 for its common stock." More
- June 24, 2010 | Item | ShareThis


New Guinea Gold Receives Renewal of Imwauna Gold Project License El1091 From PNG Government - More
- June 24, 2010 | Item | ShareThis


Initial Skyline Gold 2010 Bronson Slope Drill Program Assays Include 3.9 Metres Grading 12 Grams Per Tonne Gold and 1.43 Metres Grading 29.9 Grams Per Tonne - More
- June 24, 2010 | Item | ShareThis


New Jersey Mining Company Drills 864 Gram/Tonne Gold Intercept - More
- June 24, 2010 | Item | ShareThis


Strategic Metals Announces Start of Drilling on Three Porphyry Projects - More
- June 24, 2010 | Item | ShareThis


Malbex Releases Geological Report by Dr. Richard Sillitoe on Potential of Del Carmen Norte - More
- June 24, 2010 | Item | ShareThis


Latin American Minerals Inc. Announces Addition of Ian C. Peres to the Board of Directors - More
- June 24, 2010 | Item | ShareThis


Acadian Mining announces the appointment of a new President and Chief Executive Officer - More
- June 24, 2010 | Item | ShareThis


Lateegra Gold Corp.: Drilling Underway at DeSantis - More
- June 24, 2010 | Item | ShareThis


Fission Energy Commences Drilling at Davy Lake, Athabasca Basin - More
- June 24, 2010 | Item | ShareThis


Intrepid Mines Limited: Discussions Ongoing in Respect of Paulsens Sale and Shareholder Meeting to Be Postponed - More
- June 24, 2010 | Item | ShareThis


Colossus Minerals Discovers Two New Mineralised Zones and Drills 50.85 Metres at 20.36 g/t Gold, 3.44 g/t Platinum and 4.94 g/t Palladium - More
- June 24, 2010 | Item | ShareThis


Platoro West announces consolidation and name change - More
- June 24, 2010 | Item | ShareThis


Paragon Reports Surface Bulk Sample Contract Signed for Jaclyn Main Deposit - More
- June 24, 2010 | Item | ShareThis


Crosshair Signs Bulk Sample Contract for Golden Promise - More
- June 24, 2010 | Item | ShareThis


Pele Mountain Reports Progress at Pigeon River Project - More
- June 24, 2010 | Item | ShareThis


Brazilian Gold starts drill program at the Boa Vista Gold Project - More
- June 24, 2010 | Item | ShareThis


Litigation in the DRC Dismissed; El Nino Files $850,000 Counter Action Against Georges Kavvadias and GCP Group Ltd. for Breach of Agreement - More
- June 24, 2010 | Item | ShareThis


Annual General Meeting results and corporate update - More
- June 24, 2010 | Item | ShareThis


Peregrine Drills 56 Metres of 1.20% Cu, 92 Metres of 0.90% Cu and 86 Metres of 0.84% Cu at Altar; Copper Column Leach Tests Underway - More
- June 24, 2010 | Item | ShareThis


Western Copper Extends Higher Grade Supergene Mineralization at Casino - More
- June 24, 2010 | Item | ShareThis


Creston Moly Announces Drill Results on Southern Boundary of the Main Zone Resource Limits and Northern Area of Red Hill Zone - More
- June 24, 2010 | Item | ShareThis


Canadian Shield Strengthens Board and Approves Name Change at Annual Meeting - More
- June 24, 2010 | Item | ShareThis


Kivalliq Reports Widest and Highest Grade Intercept to Date from Lac Cinquante - More
- June 24, 2010 | Item | ShareThis


Harte Grants Stock Options and Renews Investor Relations Contract - More
- June 24, 2010 | Item | ShareThis


Geo Minerals Completes Phase One Drilling at Silver Bell West, Arizona - More
- June 24, 2010 | Item | ShareThis


Puget Ventures Inc. Announces Private Placement to Raise Funds to Further Expansion and Development Program on Werner Lake Cobalt Deposit - More
- June 24, 2010 | Item | ShareThis


Bellhaven Receives Channel Samples from Two Exposures Containing 0.7 g/t Gold at the Middle Zone of the La Mina Porphyry Gold Project, Colombia - More
- June 24, 2010 | Item | ShareThis


Cash Minerals Changes Name to Pitchblack Resources Ltd. and Completes Share Consolidation - More
- June 24, 2010 | Item | ShareThis


Big Bear Mining Corp. Commences Exploration Program on Claims in Birch Uchi Area of Red Lake Mining District with Billiken Management - More
- June 24, 2010 | Item | ShareThis


Tombstone Exploration Corporation Starts Review of Large Data File Detailing Mineral-Rich Eagleville Gold Property in Mineral County, Nevada - More
- June 24, 2010 | Item | ShareThis


CanAlaska Uranium Commences Drilling of 20 Holes at Cree East Project - More
- June 24, 2010 | Item | ShareThis


Habanero Successfully Intersects Mineralized Targets With Drill Program in Keno Hill Silver District of the Yukon - More
- June 24, 2010 | Item | ShareThis


Minco Silver Provides Updates on the Permitting of Its Fuwan Silver Project - "We are very pleased with the progress on the permitting of the Fuwan Silver Project," commented Dr. Ken Cai, Chairman and CEO of Minco Silver. "We will immediately submit our mining license application once the administrative EIA approval is obtained." More
- June 24, 2010 | Item | ShareThis


Capital Gold Corporation Set to Join Russell 3000 Index - "Capital Gold Corporation (NYSE AMEX: CGC, TSX: CGC), a producing gold mining company, announced today that it is set to join the broad-market Russell 3000® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 25, according to a preliminary list of additions posted June 11 on http://www.russell.com/." More
- June 24, 2010 | Item | ShareThis


Banro identifies new gold mineralization zones at its Namoya project - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to report that surface exploration work has identified two new gold mineralization zones at the Namoya Summit prospect at the Company's wholly-owned Namoya project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC"). The on-going exploration work at the Namoya Summit prospect includes geological mapping, channel sampling of exposures and trenching. The goal of the current exploration program is to delineate additional, near-surface resources that are within economic hauling distances of the proposed Namoya mine." More
- June 24, 2010 | Item | ShareThis


Apogee's Pulacayo Deposit Delivers Positive Preliminary Economic Analysis and Increases in Silver Resources - "Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE - News) reports the results from its preliminary economic analysis ("PEA") and updated National Instrument 43-101 Mineral Resource Statement for its Pulacayo Silver-Zinc Lead deposit located in Bolivia. The study was independently prepared by Micon International Limited (Micon) through their offices in Toronto and Vancouver, Canada, and Norwich, United Kingdom, with support from EPCM Consultores S.R.L., mining engineering consultants based in La Pas, Bolivia." More
- June 24, 2010 | Item | ShareThis


Guatemalan Government Responds to Marlin Mine Suspension Request - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) has responded to an announcement by the government of Guatemala regarding a request by the Inter-American Commission on Human Rights ("IACHR") asking the Guatemalan government to suspend operation of the Marlin mine in San Miguel Ixtahuacan, Guatemala. According to the statement released by the Guatemalan government today, its primary consideration is to protect the health and safety of its citizens. In keeping with its international commitments in the field of human rights, the government has agreed to comply with the IACHR's request by initiating the applicable administrative process under the laws of Guatemala." More
- June 24, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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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 24 June, 2010 | |


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