-- Posted 11 August, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1197.50 | +$1.90 |
Silver | $17.91 | -$0.24 |
XAU | 170.72 | -2.60% |
HUI | 450.20 | -2.25% |
GDM | 1356.95 | -2.22% |
JSE Gold | 2499.21 | +62.36 |
USD | 82.33 | +1.47 |
Euro | 128.70 | -3.08 |
Yen | 117.12 | +0.05 |
Oil | $78.02 | -$2.23 |
10-Year | 2.685% | -0.096 |
T-Bond | 131.375 | +1.59375 |
Dow | 10378.83 | -2.49% |
Nasdaq | 2208.63 | -3.01% |
S&P | 1089.47 | -2.82% |
The Metals:
Gold erased all of yesterday’s post-fed after hours gains and fell to just below yesterday’s close at as low as $1195.40 in London before it rose over 1% to as high as $1207.75 by about 9AM EST in New York and then fell back off for most of the rest of trade to as low as $1192.40 by late morning, but it then bounced back higher in afternoon trade and ended with a gain of 0.16%. Silver fell throughout most of trade in Asia, London, and New York and ended near its late morning low of $17.79 with a loss of 1.32%.
Euro gold rose to about €930, platinum lost $18.30 to $1512.50, and copper fell nearly 6 cents to about $3.25.
Gold and silver equities fell over 2% by late morning and remained near their lows into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Trade Balance | June | -$49.9B | -$42.2B | -$42.0B |
Treasury Budget | July | -$165.0B | -$169.0B | -$180.7B |
Federal workers earning double their private counterparts USATODAY
Record low mortgage rates do little for demand Yahoo
Tomorrow at 8:30AM EST brings Import and Export Prices for July and Initial Jobless Claims for 8/07 expected at 465,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil continued lower on economic worries after the Energy Information Administration reported that crude inventories fell 3.0 million barrels, gasoline inventories rose 400,000 barrels, and distillates rose 3.5 million barrels.
The U.S. dollar index exploded over a full penny higher as the dollar soared higher versus the euro on concerns over economic growth in Europe, but the dollar also fell to a new 15 year low versus the yen at times as the Japanese currency asserted its case as the best safe haven fiat currency.
Treasuries added to early gains after today’s $24 billion 10-year notes sold at a high yield of 2.73% with a bid to cover of 3.04.
The Dow, Nasdaq, and S&P fell over 2% on further signs of economic weakness in China and Europe that added to continued uncertainty over the US economy expressed by the fed yesterday.
Among the big names making news in the market today were GM, Macy’s, and Wells Fargo.
GATA Posts:
Murray Pollitt: When it comes to gold, The Economist and FT are like Pravda
'Committee to Save the World' is wrecking fiat currencies, Hathaway tells KWN
The Statistics:
Activity from: 8/10/2010
Gold Warehouse Stocks: | 11,118,878 | +1,030 |
Silver Warehouse Stocks: | 110,593,472 | +722,479 |
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$49,708m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 123.11 | 3,958,053 | US$4,735m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,706 | US$547m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.13 | 1,579,447 | US$1,908m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,971 | US$6m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 91.16: +0.30 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9151.03 - No change from yesterday’s data.
The Miners:
Great Basin’s (GBG) second quarter results, IAMGOLD’s (IAG) second quarter results, Sabina’s (SBB.V) drill results, and ECU Silver’s (ECU.TO) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Rubicon | RBY +2.62% $3.91 |
2. Harmony | HMY+1.57% $11.02 |
3. Vista Gold | VGZ +1.47% $1.38 |
LOSERS
1. Entree | EGI -6.44% $2.18 |
2. Ivanhoe | IVN-6.09% $16.80 |
3. Paramount | PZG -5.71% $1.32 |
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:
San Gold Corporation and SGX Resources Inc. Announce Joint Acquisition of Mineral Claims from Canada Lithium Corp. - More
- August 11, 2010 | Item | ShareThis
St. Elias Mines Ltd. Retains The Haft Group, Inc. to Provide Investor and Financial Public Relations Services - More
- August 11, 2010 | Item | ShareThis
Cardero Grants Incentive Stock Options - More
- August 11, 2010 | Item | ShareThis
Argex CEO update moderated by James West - More
- August 11, 2010 | Item | ShareThis
Sabina Gold & Silver Announces Further Success at Back River Project, Nunavut - "Sabina Gold & Silver Corp (TSX:SBB - News) is pleased to announce further significant results from drilling at its new Llama Lake, Umwelt Lake and Echo discoveries at the Goose Lake property on its 100% owned Back River project in Nunavut, Canada." More
- August 11, 2010 | Item | ShareThis
EurOmax Announces Institutional Shareholder Services' Recommendation That Shareholders Vote Their BLUE Proxy In Support Of The Management Director Nominees - More
- August 11, 2010 | Item | ShareThis
Waymar Announces the Commencement of a Ground Geophysical Survey on the Anza Property - More
- August 11, 2010 | Item | ShareThis
Pediment Files Amended Technical Report - More
- August 11, 2010 | Item | ShareThis
New Island Resources Inc. Advises Shareholders Who Have Tendered to Anaconda Mining Inc. Take-Over Bid to Immediately Withdraw Tendered Shares - More
- August 11, 2010 | Item | ShareThis
Bridgeport Ventures Inc. to Complete Additional Geophysical Surveys - More
- August 11, 2010 | Item | ShareThis
ICN Resources Appoints New Senior Management - More
- August 11, 2010 | Item | ShareThis
Amarillo Gold Corp.: Positive Metallurgical Results Indicated for Posse Deposit-Tenders Furore-Feasibility Study Underway - More
- August 11, 2010 | Item | ShareThis
Bonaparte Announces Name Change - More
- August 11, 2010 | Item | ShareThis
Element92 Resources Corp. to Acquire Third Gold Mine in China - More
- August 11, 2010 | Item | ShareThis
Typhoon Has Begun Its Drilling Campaign of 15,000 Meters at Fayolle - More
- August 11, 2010 | Item | ShareThis
Stina Reports 4.5 km Soil Anomaly From Dime Soil and Trench Results - More
- August 11, 2010 | Item | ShareThis
Taku Gold Appoints Kenneth MacLeod as Director - More
- August 11, 2010 | Item | ShareThis
Galantas Gold Corporation: Trading Update-Second Vein (Kerr Vein) Test Mined - More
- August 11, 2010 | Item | ShareThis
Noront provides results at McFauld's Lake Project - More
- August 11, 2010 | Item | ShareThis
Kalahari Resources: Drilling at Perestroika Intersects 18.08 g/t Gold Over 3.50 m and 59.52 g/t Gold Over 1.15 m - More
- August 11, 2010 | Item | ShareThis
Frontline Gold Options Two Gold Properties in Stewart Gold Camp Region, B.C. - More
- August 11, 2010 | Item | ShareThis
Rye Patch Gold Identifies New Gold Target Along the Oreana Trend - More
- August 11, 2010 | Item | ShareThis
Laurentian Goldfields Ltd. Identifies Gold Anomalies at Goldpines North, ON - More
- August 11, 2010 | Item | ShareThis
Golden Valley Mines Ltd.: Significant Gold Mineralization Intersected on the Perestroika Prospect - More
- August 11, 2010 | Item | ShareThis
Farallon Announces Second Quarter Financial and Operating Results - Record Production Performance Continues - More
- August 11, 2010 | Item | ShareThis
Orvana Schedules Third Quarter Conference Call - More
- August 11, 2010 | Item | ShareThis
Explor's Exploration Program Update - More
- August 11, 2010 | Item | ShareThis
Rochester Reports on Exploration Program, 2010 - More
- August 11, 2010 | Item | ShareThis
Kaminak Drills Third Gold Discovery on the Coffee Property: Double Double Zone Yields 6.3 g/t Au over 35m - More
- August 11, 2010 | Item | ShareThis
Magellan to Acquire Mineral Rights in Mato Grosso, Brazil - More
- August 11, 2010 | Item | ShareThis
All State Properties Holdings Signs Final Agreement for the Purchase of Gold and Platinum Mineral Rights in Utah - More
- August 11, 2010 | Item | ShareThis
Sultan Minerals Discovers and Samples 800 Metres of Historical Drill Core at its Kena Gold Property, BC - More
- August 11, 2010 | Item | ShareThis
Laurion Files NI 43-101 Technical Report for Bell Mountain Gold Project, Nevada - More
- August 11, 2010 | Item | ShareThis
San Gold Drills New High Grade Discovery at Emperor Zone - More
- August 11, 2010 | Item | ShareThis
Tirex Resources Closes $2,710,000 Financing - More
- August 11, 2010 | Item | ShareThis
MDN Reports its Financial Results for the Second Quarter - More
- August 11, 2010 | Item | ShareThis
Tyhee Development Corp Discovers Two New Gold Zones on Yellowknife Gold Project and Drilling Continues to Expand the Clan Lake Main Zone - More
- August 11, 2010 | Item | ShareThis
Sparton Provides Further Information and Clarification on its Recently Announced Vanadium-Uranium Acquisition in China - More
- August 11, 2010 | Item | ShareThis
Cream Minerals in Discussions to Maximize Value of the Nuevo Milenio Silver - Gold Project, Nayarit State, Mexico - More
- August 11, 2010 | Item | ShareThis
Appleton Intersects 10 Metres of 3.68 g/t Au at Manalo - More
- August 11, 2010 | Item | ShareThis
Santa Fe Gold Launches Exploration Program in Lordsburg Mining District - More
- August 11, 2010 | Item | ShareThis
Eastern Platinum Reports Results for the Three Months Ended June 30, 2010 - More
- August 11, 2010 | Item | ShareThis
Tres-Or Abitibi-Temiscamingue Exploration Update, Quebec - More
- August 11, 2010 | Item | ShareThis
MacDonald Mines Initiates Shareholder Rights Plan - More
- August 11, 2010 | Item | ShareThis
Glass Earth Gold Engages Loeb Aron for UK Investor Relations - More
- August 11, 2010 | Item | ShareThis
Laramide Announces Start of Drill Program at Westmoreland and ANSTO Metallurgical Studies - More
- August 11, 2010 | Item | ShareThis
Avion Gold Awards EPCM Contract - More
- August 11, 2010 | Item | ShareThis
Marathon PGM Receives Initial Metallurgical Gold Recoveries for Leprechaun Gold Deposit, Overall Recoveries Exceeding 90% - More
- August 11, 2010 | Item | ShareThis
Vantex Intersects 160.5 m at 0.78 g/t Au, Including 55.5 m at 1.01 g/t Au on Galloway - More
- August 11, 2010 | Item | ShareThis
Harvest Gold Drills 64 m of 0.48 g Au/t; Expands Bulk Tonnage Mineralization at Rosebud; Tenders for Phase 2 Drilling Contract - More
- August 11, 2010 | Item | ShareThis
Initial Metallurgical Test Work Very Encouraging at Mountain Lake's Leprechaun Gold Deposit - More
- August 11, 2010 | Item | ShareThis
Kabba K-9 drilling update - More
- August 11, 2010 | Item | ShareThis
Li3 Energy, Inc. Announces the Acquisition of a Nitrate-Iodine Project - More
- August 11, 2010 | Item | ShareThis
Tiger Resources Limited - Copper drilling programme starts at Sase Project - More
- August 11, 2010 | Item | ShareThis
Habanero Resources Inc.: Operations to Commence on White Gold Prospect in Yukon - More
- August 11, 2010 | Item | ShareThis
Greystar Resources Appoints BMO Capital Markets and Cutfield Freeman to Evaluate and Arrange Funding for the Angostura Project - More
- August 11, 2010 | Item | ShareThis
ECU Silver Uncovers Additional Mineralization in the Upper Section of the Santa Juana Mine - "A vein structure was recently opened over a strike length of 54 metres with an average width of 3.21 metres and grading 3.36 grams per tonne (g/t) gold (Au) and 177 g/t silver (Ag), including a section that graded 6.45 g/t Au and 198 g/t Ag over 8.45 metres. This structure, which was previously defined by drilling, is approximately three times the width of the same structure that was included in the Company's latest mineral resource report. The mineral resource report calculated this structure with similar grades but with a reported width of only 1.1 metres or 34% of what was actually found." More
- August 11, 2010 | Item | ShareThis
Great Basin reports much improved second quarter results - "Net revenue improved significantly to a quarterly record of CDN$34 million; 39,418 gold equivalent ounces(1) (Au eqv oz) were sold during the quarter (compared with 6,108 Au eqv oz in the quarter ended March 31, 2010). Revenue is net of toll milling charges. Production cost for metal recovered through the Company's Esmeralda mill decreased 20% quarter on quarter and contributed to achieving a gross profit (revenue less production costs) of CDN$13 million (CDN$0.04 earnings per share) for the period. After non-cash charges, including depletion, foreign exchange movement and share based compensation of CDN$8.6 million (CDN$0.03 per share), resulted in a net loss of CDN$5.4 million (CDN$0.02 loss per share) for the quarter." More
- August 11, 2010 | Item | ShareThis
IAMGOLD Reports Second Quarter 2010 Results - "The second quarter signaled a significant transition for the Company as we started processing material at our new Essakane mine in Burkina Faso," said Peter C. Jones, Interim President & CEO. "The price of gold has remained strong throughout 2010 and has enabled us to realize healthy margins and maintain an excellent balance sheet, even with higher cash costs during the second quarter. Higher unit cash costs were mainly the result of temporarily reduced grades at Rosebel due to heavy rainfall causing a re- sequencing of ore mining in the quarter, a higher waste stripping ratio and lower grades at the Sadiola and Yatela operations, and higher royalty costs due to a higher realized gold price. Our revised guidance for 2010 calls for increased gold production and reduced cash cost per ounce during the second half of the year compared to the first half of 2010." More
- August 11, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 11 August, 2010 | |
