-- Posted 6 August, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1202.20 | +$5.40 | +1.75% |
Silver | $18.41 | +$0.06 | +2.62% |
XAU | 175.49 | +0.97% | +3.40% |
HUI | 459.87 | +1.03% | +3.89% |
GDM | 1382.94 | +0.96% | +3.74% |
JSE Gold | 2442.51 | +9.34 | +4.47% |
USD | 80.32 | -0.45 | -1.58% |
Euro | 132.91 | +1.05 | +1.94% |
Yen | 117.06 | +0.55 | +1.12% |
Oil | $80.70 | -$1.31 | +2.22% |
10-Year | 2.824% | -0.091 | -2.86% |
Bond | 129.53125 | +1.15625 | +0.63% |
Dow | 10653.56 | -0.20% | +1.79% |
Nasdaq | 2288.46 | -0.20% | +1.50% |
S&P | 1121.64 | -0.37% | +1.82% |
The Metals:
Gold jumped to as high as $1210.85 after this morning jobs report was released before it moderated its gains a bit in the last few hours of trade, but it still ended with a gain of 0.45%. Silver climbed to as high as $18.563 before it also fell back off, but it still ended with a gain of 0.33%.
Euro gold fell to about €905, platinum lost $4.70 to $1562.30, and copper dropped a penny to about $3.34.
Gold and silver equities rose over 2% in the first hour of trade before they dropped back a bit midday, but they still ended with over 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | July | -131K | -87K | -221K |
Unemployment Rate | July | 9.5% | 9.6% | 9.5% |
Hourly Earnings | July | 0.2% | 0.1% | 0.0% |
Average Workweek | July | 34.2 | 34.1 | 34.1 |
Consumer Credit | June | -$1.3B | -$5.7B | -$5.3B |
The BLS net birth/death adjustment added 6,000 jobs to July’s payrolls.
White House's Romer Resigns in a Second Departure for Obama Economy Team Bloomberg
All of this week’s other economic reports:
Next week’s economic highlights include Productivity, Unit Labor Costs, Wholesale Inventories, and a FOMC rate decision on Tuesday, the Trade Balance and Treasury Budget on Wednesday, Initial Jobless Claims and Export and Import Prices on Thursday, and CPI, Retail Sales, Michigan Sentiment, and Business Inventories on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell along with the U.S. dollar index as the disappointing US jobs report increased worries over the economy and sent treasuries higher and the Dow, Nasdaq, and S&P markedly lower at times, but a late day rally left the major indices with only minor losses.
Among the big names making news in the market Friday were BP and AIG.
GATA Posts:
Agflation fears grow as Russia halts grain exports
Christopher Barker: China opens the floodgates for gold and silver
Real gold or paper gold -- which do you own?
If you can fractionally reserve gold,1 ounce is worth 40, 50, or 100
The Statistics:
Activity from: 8/04/2010
Gold Warehouse Stocks: | 11,177,174 | +1,866 |
Silver Warehouse Stocks: | 109,717,256 | +301,920 |
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 | 1282.746 | 41,241,568 | US$49,804m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 122.97 | 3,953,673 | US$4,772m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,731 | US$550m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.13 | 1,579,464 | US$1,884m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,971 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.912 tonnes and the LSE added 1.59 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 90.86 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9151.03: -30.45 change from yesterday’s data
The Miners:
Goldcorp’s (GG) completed mine sale, Keegan’s (KGN) assay results, Gammon Gold’s (GRS) impairment charge, Richmont’s (RIC) second quarter results, Newmont’s (NEM) ended strike, Silver Wheaton’s (SLW) amended silver purchase agreement, and Silver Quest’s (SQI.V) assay results were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Rubicon | RBY +3.58% $3.76 |
2. IAMGOLD | IAG+2.37% $17.73 |
3. Yamana | AUY +2.36% $9.98 |
LOSERS
1. Northern Dynasty | NAK -3.36% $6.90 |
2. DRDGOLD | DROOY -3.23% $4.19 |
3. Claude | CGR -2.54% $1.08 |
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:
Erdene Acquires Shares of Advanced Primary Minerals Corp. - More
- August 06, 2010 | Item | ShareThis
Board of Directors of New Island Resources Inc. Continues to Recommend Rejection of Anaconda Offer - More
- August 06, 2010 | Item | ShareThis
Silver Wheaton Finalizes Amended Silver Purchase Agreement in Conjunction With Goldcorp's Sale of the San Dimas Mine - "Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX, NYSE:SLW) is pleased to announce that, further to the Company's June 2, 2010 press release, it has amended its silver purchase agreement relating to the San Dimas mine ("San Dimas"). The agreement was amended pursuant to the August 6, 2010 completion of Goldcorp Inc.'s ("Goldcorp") sale of San Dimas to Primero Mining Corp. ("Primero"), formerly known as Mala Noche Resources (see Goldcorp and Primero press releases dated August 6, 2010)." More
- August 06, 2010 | Item | ShareThis
Goldcorp Completes Sale of San Dimas Mine - "The divestiture of San Dimas is consistent with Goldcorp's ongoing strategy of creating value for shareholders while concentrating our focus on the cornerstone assets that will drive our industry leading production growth and future cash flow," said Chuck Jeannes, Goldcorp President and Chief Executive Officer. "We look forward to participating in the future success of Primero and San Dimas through our significant ownership interest in the company." More
- August 06, 2010 | Item | ShareThis
Argonaut Gold Ltd. Provides Notice of Second Quarter Financial Results and El Castillo Progress - More
- August 06, 2010 | Item | ShareThis
Anaconda provides web link and telephone number for recording of corporate update and status of New Island bid - More
- August 06, 2010 | Item | ShareThis
Abcourt Mines Inc: Additional Good Values Obtained in Surface Diamond Drilling on Elder Gold Property - More
- August 06, 2010 | Item | ShareThis
New Guinea Gold Completes Debt Repayment - More
- August 06, 2010 | Item | ShareThis
Kettle River Resources Ltd. Begins Investigation of Gold Recovery from Phoenix Tailings in Greenwood, B.C. - More
- August 06, 2010 | Item | ShareThis
Zaruma Reports Receipt of Term Sheet for a US$30 million Copper Offtake Facility - More
- August 06, 2010 | Item | ShareThis
Xmet Starts a New NI 43-101 Resource Estimate Study on the Duquesne-Ottoman Project - More
- August 06, 2010 | Item | ShareThis
Mountain Lake Completes Non-Brokered Private Placement Financing - More
- August 06, 2010 | Item | ShareThis
Avion Gold Produces 8,770 Ounces in July 2010 - More
- August 06, 2010 | Item | ShareThis
Consolidated Thompson Iron Mines Reports Second Quarter Results for Fiscal 2010 - More
- August 06, 2010 | Item | ShareThis
La Mancha Posts Record Quarterly Net Earnings as Gold Production Rises More Than 50% - More
- August 06, 2010 | Item | ShareThis
Katanga announces 2010 Second Quarter Results - More
- August 06, 2010 | Item | ShareThis
Abacus Mining and Exploration Corp.: News Release - More
- August 06, 2010 | Item | ShareThis
Canadian Zinc Reports Half Year and Second Quarter 2010 Results - More
- August 06, 2010 | Item | ShareThis
Medusa Mining Limited: Co-O Mine Mineral Reserve Estimate - More
- August 06, 2010 | Item | ShareThis
First Uranium Announces Financial Results For the Three Months Ended June 30, 2010 - More
- August 06, 2010 | Item | ShareThis
Keegan Continues to Receive Excellent Results From the Esaase Gold Project Down Dip Stepout and Infill Drilling Program - "Keegan Resources Inc. (TSX:KGN - News)(AMEX:KGN - News) ("Keegan") is pleased to announce updated assay results from its Esaase drilling program in southwest Ghana. Keegan drilled significant intercepts in all seven drill holes down dip from the existing resource, including 134.8 meters at 1.00 g/t Au, 22 meters of 2.1 g/t Au, and 36 meters of 1.24 g/t Au, as reported in Table 1." More
- August 06, 2010 | Item | ShareThis
Gammon to Record a Non-Cash Goodwill and Asset Impairment Charge Relating to El Cubo - "As previously announced on June 17, 2008, the Company has indefinitely suspended operations at the El Cubo mine, located in Guanajuato State, Mexico. This decision was a result of continued labour disruptions by the unionized workforce and rising operating costs associated with the failure of the unionized workforce to achieve expected productivity levels." More
- August 06, 2010 | Item | ShareThis
Silver Quest Intercepts Gold and Silver at Capoose, BC - "Silver Quest Resources Ltd. (TSX VENTURE:SQI - News; the "Company") is pleased to report assay results for diamond drill holes D-10-116 and D-10-118 recently completed on the Capoose Project ("Capoose") located in north central British Columbia. Drill holes D-10-116 and D-10-118 have confirmed that precious and base metal mineralization extends approximately 100 metres (m) west of the eastern arm of the deposit." More
- August 06, 2010 | Item | ShareThis
Richmont Mines Reports Growth for Second Quarter of 2010 - "We were active on several fronts in the second quarter. We successfully acquired the 30% of Louvem that we did not already own, which enabled us not only to streamline our business, but also added to our exploration property portfolio in Quebec." More
- August 06, 2010 | Item | ShareThis
Workers at Newmont Indonesia unit agree to end strike - "Workers at PT Newmont Nusa Tenggara (NNT), an Indonesian unit of Newmont Mining Corp (NEM.N) agreed to stop their strike, the company said on Friday." More
- August 06, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 6 August, 2010 | |
