-- Posted 23 July, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1188.40 | -$7.80 | -0.01% |
Silver | $18.10 | UNCH | +1.86% |
XAU | 173.42 | +0.63% | +3.60% |
HUI | 451.84 | +0.43% | +1.79% |
GDM | 1358.05 | +0.22% | +1.37% |
JSE Gold | 2348.90 | -22.59 | -3.54% |
USD | 82.48 | -0.15 | -0.10% |
Euro | 129.15 | +0.25 | -0.09% |
Yen | 114.50 | -0.54 | -0.74% |
Oil | $78.98 | -$0.32 | +3.91% |
10-Year | 2.994% | +0.062 | +1.87% |
Bond | 127.15624 | -0.9375 | -0.73% |
Dow | 10424.62 | +0.99% | +3.24% |
Nasdaq | 2269.47 | +1.05% | +4.15% |
S&P | 1102.66 | +0.82% | +3.55% |
The Metals:
Gold reversed slight losses in Asia and rose as much as $7.77 to $1203.97 at around 8:15AM EST, but it then chopped back lower for most of trade in New York and ended near its early afternoon low of $1185.75 with a loss of 0.65%. Silver climbed to $18.265 and dropped to $18.03 before it bounced back higher in late morning New York trade and ended unchanged on the day.
Euro gold fell to about €923, platinum gained $16.50 to $1538, and copper gained another couple of cents to bout $3.18.
Gold and silver equities traded mostly slightly higher and ended with modest gains.
The Economy:
There were no major economic reports today. All of this week’s other economic reports:
National Homebuilders Association Index - July | 14 v. 16 |
Next week’s economic highlights include New Home Sales on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, Durable Goods Orders on Wednesday, Initial Jobless Claims and the fed’s Beige Book on Thursday, and GDP, the Employment Cost Index, Chicago PMI, and Michigan Sentiment on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly lower but remained near two month highs as traders kept an eye on a developing tropical storm in the Gulf of Mexico.
The U.S. dollar index and treasuries fell as the Dow, Nasdaq, and S&P rose about 1% in afternoon trade after European bank stress test results were revealed without raising any significant concerns as only 7 of the 91 banks failed the “test.” News that GE is raising its dividend also encouraged the bulls.
Among the big names making news in the market Friday were GE, Microsoft, McDonald’s, Citigroup, Verizon, Ford, and BP.
GATA Posts:
Gordon Long: Gold swaps signal the road map ahead
Izabella Kaminska: Looks like BIS swaps relieved gold market squeeze
The Statistics:
Activity from: 7/22/2010
Gold Warehouse Stocks: | 11,117,293 | +3,268 |
Silver Warehouse Stocks: | 110,366,049 | -570,971 |
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 | 1302.046 | 41,862,069 | US$49,821m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.04 | 3,955,686 | US$4,723m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,803 | US$543m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.74 | 1,599,254 | US$1,918m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,972 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 6.082 tonnes and the JSE added 0.36 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 89.66 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29 - No change from yesterday’s data.
The Miners:
Kinross Gold’s (KGC) asset sales and acquired property interest was the only big story in the gold and silver mining industry making headlines Friday.
WINNERS
1. ITH | THM +3.90% $6.13 |
2. Alexco | AXU +3.63% $3.14 |
3. Freeport | FCX+3.34% $71.08 |
LOSERS
1. Entree | EGI -3.52% $2.19 |
2. Mines MGMT | MGN -2.42% $1.61 |
3. MAG Silver | MVG -2.26% $6.07 |
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:
North American Nickel Inc.: Private Placements Closed, Property Share Issuances Completed, Debt Settled, Share Capital Updated, OSC Revokes Cease Trade Order - More
- July 23, 2010 | Item | ShareThis
Apella Resources Inc.: Partial Iron-T Assays Re-Release - More
- July 23, 2010 | Item | ShareThis
Great Quest Metals Ltd.: Appointment of New Director Signals Focus on Malian Phosphates - More
- July 23, 2010 | Item | ShareThis
New Island Resources Inc. Board of Directors Unanimously Recommends Shareholders Reject Hostile Take-Over Bid of Anaconda Mining Inc. - More
- July 23, 2010 | Item | ShareThis
Uranium Energy Corp Announces Results of AGM - More
- July 23, 2010 | Item | ShareThis
EMC Announces Resignation of Board Director - More
- July 23, 2010 | Item | ShareThis
Alexandria Engages Pollitt & Co. as Market-Maker - More
- July 23, 2010 | Item | ShareThis
Initial Assay Results of the Infill Drilling Program at Panoro's Antilla Project Joint Venture, Peru - More
- July 23, 2010 | Item | ShareThis
SIRIOS Resources Inc.: Metallurgical Testing Undertaken on A High Grade Gold Sample of Aquilon - More
- July 23, 2010 | Item | ShareThis
Mountain Lake and New Island Sign Binding Definitive Agreement - More
- July 23, 2010 | Item | ShareThis
Golden Tag Resources Ltd.: Company Update - More
- July 23, 2010 | Item | ShareThis
Ashburton Encounters Visible Gold in Drill Core - More
- July 23, 2010 | Item | ShareThis
Melkior Intersects Significant Gold Mineralization in West Timmins - More
- July 23, 2010 | Item | ShareThis
Eskay Mining Announces Final Closing of Its Flow-Through and Working Capital Private Placement - More
- July 23, 2010 | Item | ShareThis
Aldridge Minerals Announces Commencement of Preliminary Economic Assessment - More
- July 23, 2010 | Item | ShareThis
GobiMin Completed the Sale of Yanxi Copper Deposit for CAD 8 million - More
- July 23, 2010 | Item | ShareThis
B2Gold Corp. Sells Interest in Kupol East and West Licenses in Russia to Kinross Gold Corporation - More
- July 23, 2010 | Item | ShareThis
Kinross Sells Harry Winston Shares - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) announced today that it has entered into an agreement with a group of financial institutions to sell its approximate 19.9% equity interest in Harry Winston Diamond Corporation (TSX:HW - News)(NYSE:HWD - News) ("Harry Winston"), consisting of 15.2 million Harry Winston common shares, on an underwritten block trade basis." More
- July 23, 2010 | Item | ShareThis
Kinross Agrees in Principle to Sell Diavik Interest - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) announced today that it has reached an agreement in principle with Harry Winston Diamond Corporation (TSX:HW - News)(NYSE:HWD - News) ("Harry Winston"), pursuant to which Kinross will sell its 22.5% interest in the partnership holding Harry Winston's 40% interest in the Diavik Diamond Mines joint venture to Harry Winston for US$220 million, comprised of US$50 million cash, approximately 7.1 million Harry Winston common shares with a value of approximately US$100 million, and a note payable in the amount of US$70 million. The completion of the transaction is subject to execution of definitive binding documentation, as well as the approval of the boards of both Harry Winston and Kinross, the receipt of all required third party consents, the receipt of required regulatory approvals (including the approval of the Toronto Stock Exchange) and other customary conditions of closing." More
- July 23, 2010 | Item | ShareThis
Kinross Reaches Agreement With B2Gold on Kupol East and West Exploration Licenses - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) ("Kinross"(1)) today announced that it has entered into an agreement with B2Gold Corp ("B2Gold"(1)) to acquire B2Gold's right to an interest in the Kupol East and West exploration licence areas. Under the terms of a previous agreement, Kinross had undertaken to secure a 37.5% joint venture interest for B2Gold in the Kupol East and West exploration licence areas. According to the new agreement, Kinross is no longer obligated to enter into joint venture arrangements with B2Gold in respect of Kinross' 75% interest in these licence areas. In exchange, Kinross will pay B2Gold: US$33 million in cash on closing; contingent payments based on National Instrument 43-101 qualified proven and probable reserves at the subject properties, should such reserves be declared in future; and, payments based on net smelter returns from any future production at the properties. Further details are described in the definitive agreement. The closing is subject to certain customary conditions, and is expected to occur in August, 2010." More
- July 23, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 23 July, 2010 | |
