-- Posted 28 July, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1160.10 | +$1.25 |
Silver | $17.46 | -$0.14 |
XAU | 166.78 | +0.32% |
HUI | 434.08 | +0.43% |
GDM | 1306.77 | +0.45% |
JSE Gold | 2302.44 | +21.41 |
USD | 82.15 | +0.01 |
Euro | 129.86 | -0.10 |
Yen | 114.36 | +0.59 |
Oil | $76.99 | -$0.51 |
10-Year | 3.001% | -0.046 |
T-Bond | 126.84375 | +0.50 |
Dow | 10497.88 | -0.38% |
Nasdaq | 2264.56 | -1.04% |
S&P | 1106.13 | -0.69% |
The Metals:
Gold rose as much as $7.08 to $1165.93 in late Asian trade before it fell in London to as low as $1156.85 by about 10AM EST and then bounced back to $1165.15 in late morning New York trade, but it ultimately fell back off into the close and ended with a gain of just 0.11%. Silver rose to $17.73 in Asia and fell to $17.305 by about 9AM EST before it also bounced back higher in late morning New York trade, but it still ended with a loss of 0.8%.
Euro gold fell to about €893, platinum gained $4 to $1530.85, and copper rose another few cents to about $3.24.
Gold and silver equities waffled near unchanged and ended with modest gains.
The Economy:
Report | For | Reading | Expected | Previous |
Durable Orders | June | -1.0% | 1.0% | -0.8% |
Durable Orders ex Trans. | June | -0.6% | 0.6% | 1.2% |
Mortgage demand dips on rising rates Yahoo
Economy erodes election hope for Democrats Reuters
The fed’s Beige Book “said U.S. economic growth slowed in some areas over the past two months, dragged down by commercial real estate and the expiration of a tax credit for homebuyers.”
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 7/24 expected at 464,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell after the Energy Information Administration reported that crude inventories surprisingly rose a huge 7.3 million barrels. Gasoline inventories rose 100,000 barrels and distillates rose 900,000 barrels.
The U.S. dollar index rose against the euro but dropped against the yen after Durable Goods Orders dropped unexpectedly and reignited worries over the economy.
Treasuries turned modestly higher after today’s $38 billion 5-year note auction drew a yield of 1.796% with a bid to cover of 3.06.
The Dow, Nasdaq, and S&P ended as much as 1% lower on worries about the economy.
Among the big names making news in the market today were Apple, Boeing, Wyndham Worldwide, Sprint, CVS Caremark, Comcast, and WellPoint.
GATA Posts:
To Rickards, a bureaucratized, debt-ridden modern empire looks worse than declining Rome
Jay Taylor interviews Swiss America's Fred Goldstein on investing in real metal
Stewart Thompson: Central banks will push gold up to rescue asset prices
Hinde Capital's Ben Davies talks gold price suppression on CNBC
The Statistics:
Activity from: 7/27/2010
Gold Warehouse Stocks: | 11,085,141 | -93,743 |
Silver Warehouse Stocks: | 110,551,404 | +202,178 |
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 | 1300.829 | 41,822,959 | US$48,371m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.37 | 3,966,311 | US$4,604m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,777 | US$530m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.74 | 1,599,166 | US$1,868m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,972 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.913 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 90.88:+1.22 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29 - No change from yesterday’s data.
The Miners:
Lihir Gold’s (LIHR) second quarter production, SEMAFO’s (SMF.TO) mill commissioning, Newmont’s (NEM) second quarter results, and Hecla’s (HL) second quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG+4.38% $1.43 |
2. Seabridge | SA +3.94% $25.62 |
3. New Gold | NGD+3.93% $5.03 |
LOSERS
1. Mines MGMT | MGN -3.87% $1.49 |
2. Ivanhoe | IVN -3.61% $17.36 |
3. Entree | EGI -1.87% $2.10 |
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:
Network Exploration Promissory Note - More
- July 28, 2010 | Item | ShareThis
Eskay Mining Announces Appointment of Doug Chalmers as a Director - More
- July 28, 2010 | Item | ShareThis
Lake Victoria Contracts Layne Drilling to Complete a Minimum of 8000m of Drilling to Define Subsurface Gold Resources at Two Gold Projects, Tanzania - More
- July 28, 2010 | Item | ShareThis
LIM Receives Approvals to Commence Construction of Mining Facilities - More
- July 28, 2010 | Item | ShareThis
Luiri Gold Zambian Tenure Update - More
- July 28, 2010 | Item | ShareThis
B2Gold Updates Radius on Trebol and Pavon gold projects: Cuts 7.2 g/t Au over 22.5m at Pavon - More
- July 28, 2010 | Item | ShareThis
Edgewater Finalizes Acquistion of the Corcoesto Gold Deposit, Spain - More
- July 28, 2010 | Item | ShareThis
AM Gold Inc. Announces Progressive IR Consultants Corp. as IR Provider and Bruce Korhonen as Manager Corporate Communications - More
- July 28, 2010 | Item | ShareThis
Rye Patch Gold Leases Wilco Geothermal Rights - More
- July 28, 2010 | Item | ShareThis
Frontline Gold RAB Drilling Identifies Numerous Diamond Drill Targets at Niaouleni Project, Mali - More
- July 28, 2010 | Item | ShareThis
Bridgeport Ventures Inc. Reports Assay Results - More
- July 28, 2010 | Item | ShareThis
Gold Standard Ventures Commences Drilling at Railroad - More
- July 28, 2010 | Item | ShareThis
Decade Resources Ltd.: Drilling Resumed On Wedeene Copper-Gold Discovery at Kitimat, British Columbia - More
- July 28, 2010 | Item | ShareThis
Augen Gold Corp. Applies for Listing of Flow-Through Warrants - More
- July 28, 2010 | Item | ShareThis
HudBay to Help Establish Northern Manitoba Mining Academy - More
- July 28, 2010 | Item | ShareThis
Moss Lake issues stock options to directors and officers - More
- July 28, 2010 | Item | ShareThis
PAW Retains Brisco Capital Partners Corp. as Investor Relations Consultants - More
- July 28, 2010 | Item | ShareThis
Gabriel Resources Ltd. to Release Second Quarter 2010 Results - More
- July 28, 2010 | Item | ShareThis
MDN Starts Drilling Program on Ikungu Gold Project - More
- July 28, 2010 | Item | ShareThis
Century Announces Resignation of Chairman, President and CEO Margaret Kent; Keith Hulley Appointed Interim President and CEO - More
- July 28, 2010 | Item | ShareThis
Orocobre Selected in First Global Lithium ETF - More
- July 28, 2010 | Item | ShareThis
IP Survey significantly expands potential of Schaft Creek deposit - More
- July 28, 2010 | Item | ShareThis
Eagle Star Minerals Corp. Files NI 43-101 Report on Investmine Iron Property, North Eastern Brazil - More
- July 28, 2010 | Item | ShareThis
Marifil and NovaGold Advance San Roque Agreement - More
- July 28, 2010 | Item | ShareThis
Lundin Mining Releases 2010 Second Quarter Results - More
- July 28, 2010 | Item | ShareThis
EMC Receives Report on Capital & Operating Cost Estimates for the Nyngan Scandium JV Project in NSW, Australia - More
- July 28, 2010 | Item | ShareThis
AQM Copper Makes New Discovery at a Second Satellite Target Within Zafranal Project Boundary Intercepting 64m of 0.36% Cu and 0.03 g/t Au - More
- July 28, 2010 | Item | ShareThis
Logan Resources signs option agreement with Ridgemont Capital - More
- July 28, 2010 | Item | ShareThis
Orezone Gold Corporation: Continued Success at Bombore - More
- July 28, 2010 | Item | ShareThis
Diadem Closes Flow-Through Equity Financing of $1,000,000 and Updates Progress of Joint Venture - More
- July 28, 2010 | Item | ShareThis
Mundoro Announces Project Update - More
- July 28, 2010 | Item | ShareThis
Continental Nickel Expands H Zone With Intersections Up to 6.54% Nickel and 0.30% Copper Over 3.25 Metres, at the Nachingwea Nickel-Copper Sulphide Project - More
- July 28, 2010 | Item | ShareThis
Silver Shield updates West Timmins exploration results - More
- July 28, 2010 | Item | ShareThis
Lithium Americas Corp. Continues the Development of Its Lithium Brine Property by Retaining ARA WorleyParsons to Conduct Engineering Services - More
- July 28, 2010 | Item | ShareThis
Arcus Closes Flow-Through Private Placement - More
- July 28, 2010 | Item | ShareThis
Spanish Mountain Gold Announces Assay Results From Spanish Mountain & Drilling at Thunder Ridge Nears Completion - More
- July 28, 2010 | Item | ShareThis
Phase 1 Work Program Completed on Redstar's Oasis Gold Project in Nevada - More
- July 28, 2010 | Item | ShareThis
Creston Moly Corp.: Phase Three Drill Program Commences at El Creston Molybdenum Deposit - More
- July 28, 2010 | Item | ShareThis
Intrepid Mines Limited Releases Activities Report for the Second Quarter - More
- July 28, 2010 | Item | ShareThis
Bellhaven Receives Environmental Permit for Its Pitaloza High-Sulphidation Epithermal Gold Project, Panama - More
- July 28, 2010 | Item | ShareThis
Formation Metals Drills to Optimize Mine Design and Assess Rare Earth Elements on Cobalt Project - More
- July 28, 2010 | Item | ShareThis
Genco Provides Further Positive Developments in Production - More
- July 28, 2010 | Item | ShareThis
Lake Shore Gold Signs Term Sheet for Corporate Revolving Credit Facility of Up to US$50 Million - More
- July 28, 2010 | Item | ShareThis
Lihir Gold Second-Quarter Production Drops 17%, Affirms Full-Year Output - "Lihir Gold Ltd., which agreed to a A$9.7 billion ($8.7 billion) takeover by Newcrest Mining Ltd., reported a 17 percent decline in second-quarter production as heavy rain affected mining at its African project." More
- July 28, 2010 | Item | ShareThis
SEMAFO Commissions Second Phase of Plant Expansion at Mana - "SEMAFO (TSX:SMF - News) today announced the commissioning of the semi-autogenous grinding ("SAG") mill at its Mana Mine in Burkina Faso and the completion of phase two of the plant expansion." More
- July 28, 2010 | Item | ShareThis
Hecla Reports Second Quarter Net Income of $13.7 Million and Operating Cashflow of $54.0 Million: Lowering Full-Year Cash Cost Guidance to $1.00-$1.50 Per Ounce - “Our mines, operating management and orebodies combined with current prices allowed Hecla to generate an extraordinary amount of cash flow for the amount of production. With very low operating costs per ounce, our margin was in excess of $20 per ounce of silver which drove cash flow of $54 million in the quarter, the second highest in Hecla's history. This cash flow enabled Hecla to deploy financial resources to support larger exploration and development programs to build for the future. Importantly, we increased our cash balance during the recent quarter by more than $80 million to almost $200 million." More
- July 28, 2010 | Item | ShareThis
Newmont Second Quarter 2010 Adjusted Net Income(1) Increases 79% to $377 million ($0.77 per share); Increases Quarterly Dividend by 50% - "Newmont Mining Corporation (NYSE:NEM - News) ("Newmont" or the "Company") today announced second quarter adjusted net income(1) of $377 million ($0.77 per share) compared to $211 million ($0.43 per share) in the prior year quarter. Net income attributable to Newmont stockholders was $382 million ($0.78 per share) compared to $162 million ($0.33 per share) in the second quarter of 2009." More
- July 28, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 28 July, 2010 | |
