-- Posted 16 July, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1188.50 | -$19.40 | -1.74% |
Silver | $17.77 | -$0.53 | -1.50% |
XAU | 167.39 | -3.28% | -4.39% |
HUI | 443.89 | -3.30% | -4.05% |
GDM | 1339.65 | -3.17% | -3.77% |
JSE Gold | 2436.02 | -24.19 | -0.71% |
USD | 82.56 | +0.16 | -1.69% |
Euro | 129.27 | -0.12 | +2.25% |
Yen | 115.35 | +1.02 | +2.22% |
Oil | $76.01 | -$0.61 | -0.11% |
10-Year | 2.939% | -0.039 | -3.83% |
Bond | 128.09375 | +0.4375 | +1.44% |
Dow | 10097.90 | -2.52% | -0.98% |
Nasdaq | 2179.05 | -3.11% | -0.79% |
S&P | 1064.88 | -2.88% | -1.21% |
The Metals:
Gold saw a slight gain at $1209.25 in Asia before it fell off in London and early New York trade to as low as $1185.80 by a little after 10AM EST and then rebounded to $1193.08 shortly afterwards, but it ultimately fell back near its earlier low in the last few hours of trade and ended with a loss of 1.61%. Silver followed a similar pattern and ended near its midmorning low of $17.72 with a loss of 2.9%.
Euro gold fell to about €920, platinum lost $20.50 to $1502, and copper fell over 8 cents to about 2.92.
Gold and silver equities fell over 3% by midday and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | June | -0.1% | -0.1% | -0.2% |
Core CPI | June | 0.2% | 0.1% | 0.1% |
Net Long-Term TIC Flows | May | $35.4B | - | $81.5B |
Michigan Sentiment | July | 66.5 | 74.5 | 76.0 |
All of this week’s other economic reports:
Next week’s economic highlights include Building Permits and Housing Starts on Tuesday and Initial Jobless Claims, Existing Home Sales, and Leading Economic Indicators on Thursday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on worries over waning energy demand due to tepid economic growth.
The U.S. dollar index reversed early losses and turned higher as market participants sold other assets and raised cash. The dollar/yen fell to 86 for the first time since 1995 (or the yen rose above 115 depending on how you look at it – we use the stockcharts quote $XJY).
Treasuries rose as the Dow, Nasdaq, and S&P fell over 2% on mostly disappointing earnings reports and economic data.
Among the big names making news in the market Friday were SonyEricsson, Mattel, Schwab, Bank of America, Citigroup, GE, and BP.
GATA Posts:
FT stumbles into central bank admissions of market manipulation
The Statistics:
Activity from: 7/15/2010
Gold Warehouse Stocks: | 11,041,231 | -127 |
Silver Warehouse Stocks: | 110,891,979 | -923,440 |
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 | 1314.211 | 42,253,189 | US$50,238m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 124.05 | 3,988,446 | US$4,745m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,838 | US$544m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.38 | 1,587,648 | US$1,918m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,973 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.608 tonnes and the LSE added 0.31 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 89.20 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29 - No change from yesterday’s data.
The Miners:
Gammon Gold’s (GRS) completed investment in Corex Gold, Keegan’s (KGN) drill results, and Brigus Gold’s (BRD) private placement were among the big stories in the gold and silver mining industry making headlines Friday.
No “winners” today.
LOSERS
1. Mines MGMT | MGN -7.41% $1.75 |
2. Allied Nevada | ANV -6.71% $17.25 |
3. Gammon Gold | GRS -6.63% $5.35 |
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:
Soledad Mountain Project Receives Waste Discharge Approval - More
- July 16, 2010 | Item | ShareThis
Champion Closes in Escrow on Agreement to Increase Its Interest to 82.5% of 16 Strategic Iron Mineral Concessions in Fermont, Quebec - More
- July 16, 2010 | Item | ShareThis
White Canyon Signs Convertible Note Funding Agreement for $US 2.5 Million - More
- July 16, 2010 | Item | ShareThis
Brazauro Securityholders Approve Plan of Arrangement - More
- July 16, 2010 | Item | ShareThis
Cangold Terminates Los Venados Option - More
- July 16, 2010 | Item | ShareThis
Gammon Gold Completes Strategic Investment in Corex Gold Corporation - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News): Gammon is pleased to announce that it has completed the non-brokered private placement with Corex Gold Corporation ("Corex") (TSXV:CGE) announced on July 8, 2010. Pursuant to the private placement, Gammon has acquired 4,706,000 units of Corex at a subscription price of CAD $0.68 per unit for an aggregate purchase price of CAD $3,200,080, representing approximately 12% of the issued and outstanding shares of Corex (approximately 14% on a fully diluted basis). Each unit consists of one common share and one half of one share purchase warrant exercisable at CAD $0.90 for a period of 24 months from the closing date of the transaction." More
- July 16, 2010 | Item | ShareThis
Corex Closes Private Placement With Gammon Gold - More
- July 16, 2010 | Item | ShareThis
Mountain Boy Minerals Ltd.: Drill Mobilized to Test Bonanza Gold Bearing Montrose Zone - More
- July 16, 2010 | Item | ShareThis
Trans National Minerals Inc.: Change of Directors and Officers - More
- July 16, 2010 | Item | ShareThis
Jinshan Gold Mines Changes Name To China Gold International Resources Corp. Ltd. - More
- July 16, 2010 | Item | ShareThis
Decade Resources Ltd.: Drill Mobilized to Test Bonanza Gold Bearing Montrose Zone - More
- July 16, 2010 | Item | ShareThis
Uranium Resources, Inc. Announces Exercise and Closing of Over-Allotment Option for Recent Public Offering - More
- July 16, 2010 | Item | ShareThis
Latin American Minerals Inc. Announces Resignation of Ted Freedman from its Board of Directors - More
- July 16, 2010 | Item | ShareThis
Augen Gold Corp Reports on the Continued Failure of Dissidents to Disclose Intentions in Apparent Take-Over Attempt - More
- July 16, 2010 | Item | ShareThis
Diamonds North Begins Halkett Inlet Gold Program - More
- July 16, 2010 | Item | ShareThis
Acadian Mining and Golden River complete private placement - More
- July 16, 2010 | Item | ShareThis
Sniper Files Initial Public Offering Prospectus - More
- July 16, 2010 | Item | ShareThis
Golden Share Completes a $40,000 Financing - More
- July 16, 2010 | Item | ShareThis
Queenston Reports an Increase In High-Grade Mineral Resources on the South Claims JV Property - More
- July 16, 2010 | Item | ShareThis
Shareholders approve proposed consolidation geophysics and drilling under way on Alaskan projects - More
- July 16, 2010 | Item | ShareThis
New Dawn Reports US$3.55 Million in Gold Sales from its Turk Mine in Zimbabwe for the Quarter ended June 30, 2010 - More
- July 16, 2010 | Item | ShareThis
Quadra FNX Acquires Shares in Gold Wheaton - More
- July 16, 2010 | Item | ShareThis
Gold Wheaton Settles $50 Million Deferred Payment to FNX Through Issuance of Shares - More
- July 16, 2010 | Item | ShareThis
REC Minerals Completes Diamond Drilling at Yukon Olympic - More
- July 16, 2010 | Item | ShareThis
Lithium Americas Corp. Announces First Quarter Fiscal 2011 Results - More
- July 16, 2010 | Item | ShareThis
Western Copper Reports on Island Copper's JV Agreement - More
- July 16, 2010 | Item | ShareThis
Qiao Xing Universal Files its 2009 Annual Report on Form 20-F - More
- July 16, 2010 | Item | ShareThis
Keegan Continues to Receives Excellent Results From Both Stepout and Infill Drilling at the Esaase Gold Project - "Keegan Resources Inc. (TSX:KGN - News)(AMEX:KGN - News) ("Keegan") is pleased to announce new assay results from its Esaase drilling program in southwest Ghana. Keegan drilled significant intercepts in its 1) infill drill holes, 2) shallow step out drill holes north and along strike of the resource, and 3) step out drill holes down dip of the existing resource. Significant Intercepts from infill drilling include 98.1 meters of 1.43 g/t Au, for along strike step outs 20 meters of 1.58 g/t Au, and for down dip mineralization, 52.3 m of 3.01 g/t Au. Please see a collar location map and cross section at www.keeganresources.com." More
- July 16, 2010 | Item | ShareThis
Brigus Gold Announces C$12,000,000 Private Placement Financing of Flow-Through Shares - "Brigus Gold Corp. (“Brigus” or the “Company”) (TSX: BRD - News) (NYSE Amex: BRD) is pleased to announce that it intends to offer up to C$12,000,000 of common shares of the Company designated as flow-through shares for purposes of the Income Tax Act (Canada) (the "Flow-Through Shares") on a guaranteed agency basis at a price of C$1.40 per Flow-Through Share (the “Offering”)." More
- July 16, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 16 July, 2010 | |
