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Gold Seeker Closing Report: Gold Gains Almost 1% While Silver Rises Over 3%

By: Chris Mullen, Gold-Seeker.com


-- Posted 25 August, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1239.30

+$8.60

Silver

$18.93

+$0.56

XAU

177.39

+2.44%

HUI

471.71

+3.00%

GDM

1431.49

+3.00%

JSE Gold

2424.52

-21.06

USD

83.28

+0.14

Euro

126.52

+0.24

Yen

118.08

-0.95

Oil

$72.52

+$0.89

10-Year

2.538%

+0.039

T-Bond

135.1875

-0.5625

Dow

10060.06

+0.20%

Nasdaq

2141.54

+0.84%

S&P

1055.33

+0.33%

 
 

 

The Metals:

 

Gold climbed almost $10 in London and rose to as high as $1241.20 by about 10:30AM EST before it fell back off a bit in late trade, but it still ended with a gain of 0.7%.  Silver rose throughout most of the day and ended near its late session high of $19.02 with a gain of 3.05%.

 

Euro gold rose to about €980, platinum gained $9.50 to $1521.50, and copper fell a few cents to about $3.21.

 

Gold and silver equities rose throughout trade and ended with as much as 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods

July

0.3%

3.0%

-0.1%

Durable Goods -ex Trans.

July

-3.8%

0.5%

0.2%

New Home Sales

July

276K

334K

315K

 

Mortgage applications rise 4.9 pct. on low rates  Yahoo

Credit card debt drops to lowest level in 8 years  Yahoo

U.S. millionaire index turns sharply bearish  Yahoo

 

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 8/21 expected at 485,000.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil reversed early losses and ended higher after the Energy Information Administration reported that crude inventories rose 4.1 million barrels, gasoline inventories rose 2.3 million barrels, and distillates rose 1.8 million barrels.

 

The U.S. dollar index traded mostly slightly higher on speculation that Japan will take some kind of action to drop the yen from recent 15 year highs.

 

Treasuries rose on more poor economic data that sent the Dow, Nasdaq, and S&P lower in early trade, but bonds then turned lower as stocks rose midday and ended with slight gains on hopes that the fed’s actions will be able to stimulate the economy.

 

Among the big names making news in the market today were Toll Brothers, BHP, Goldman Sachs, AIG, Sanofi-Aventis, American Airlines, HP, Dell, 3Par, and Morgan Stanley.

 

GATA Posts:

 

 

There are no markets, just manipulations

Wall Street Journal gives gold only resentful acknowledgement as safe haven

Silver and gold explosive, Hinde Capital's Ben Davies tells King World News

Fed 'probably' manipulates gold, seeks to 'destroy' it, Ron Paul tells Kitco News

 

The Statistics:

Activity from: 8/24/2010

Gold Warehouse Stocks:

10,861,200

-7,425

Silver Warehouse Stocks:

111,404,262

-198,457

 

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

1297.948

41,730,332

US$51,625m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

126.57

4,069,471

US$5,038m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

126.91

4,080,157

US$5,056m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,635

US$567m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

49.36

1,587,038

US$1,958m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,970

US$6m

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.52 tonnes and the LSE added 0.76 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 93.98 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9175.38: +24.35 change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) certification, Fronteer’s (FRG) 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.  Vista Gold

VGZ +20.94% $2.31

2.  Minco Gold

MGH+14.79% $1.12

3.  New Gold

NGD +8.14% $5.98

 

LOSERS

1.  Freeport

FCX-0.58% $66.66

2.  Almaden

AAU -0.47% $2.12

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:

Uranerz Implements Shareholder Rights Plan; Sets Rights Exercise Price at US$8.75 - More
- August 25, 2010 | Item | ShareThis


Golden Dawn Closed First Tranche of Private Placement - More
- August 25, 2010 | Item | ShareThis


Further Work on Nanika's New Bulldog Creek Property - More
- August 25, 2010 | Item | ShareThis


Golden Eagle Settles Lawsuit With Yukon-Nevada Gold Corp. - More
- August 25, 2010 | Item | ShareThis


Capella Resources Announces Filing of Statement of Defence - More
- August 25, 2010 | Item | ShareThis


Greenock Resources: Kakanda Hardrock Concession Agreement - More
- August 25, 2010 | Item | ShareThis


Galahad Metals Announces a Correction of Current Private Placement Terms - More
- August 25, 2010 | Item | ShareThis


Riverstone Increases Gold Recovery at Nami by Core Drilling - More
- August 25, 2010 | Item | ShareThis


Bravada and Fortune River Plan to Merge Forming Strong Nevada-Focused Exploration and Development Company - More
- August 25, 2010 | Item | ShareThis


Condor Announces $975,000 Financing - More
- August 25, 2010 | Item | ShareThis


Goldstone Resources Announces Joint Venture Partner Premier Gold Drilling Continues to Expand Near-Surface Gold Zones at Hardrock - More
- August 25, 2010 | Item | ShareThis


New Island Resources Inc. Responds to Press Release of Anaconda Mining Inc. - More
- August 25, 2010 | Item | ShareThis


Z-Gold Adds to Abitibi Gold Property - More
- August 25, 2010 | Item | ShareThis


Callinan intersects 3.36 g/mt of Gold over 21.25m in Polymetallic Intersection at Coles Creek - More
- August 25, 2010 | Item | ShareThis


Ethos Intersects Significant Silver-Lead-Zinc Mineralization Follow-Up Diamond Drill Programme to Commence Immediately - More
- August 25, 2010 | Item | ShareThis


Dia Bras Completes Major Geophysical Survey at Its Bolivar Property, Chihuahua - More
- August 25, 2010 | Item | ShareThis


Uranium Resources, Inc. to Begin Drilling in Historic Grants Mineral Belt - More
- August 25, 2010 | Item | ShareThis


PREMIER - DRILLING CONTINUES TO EXPAND NEAR-SURFACE GOLD ZONES AT HARDROCK - More
- August 25, 2010 | Item | ShareThis


Savant Explorations Ltd. Initiates Aeromagnetic/XDS-VLF Survey on McWatters Gold Property, Quebec - More
- August 25, 2010 | Item | ShareThis


Huldra Silver Inc. Samples Up To 9221 g/t Ag or 268.91 oz/t Ag at Treasure Mountain - More
- August 25, 2010 | Item | ShareThis


Golden Phoenix Advances 24 Month Acquisition Plan With July 2010 Signing of Purchase Agreement to Acquire 80% Interest in Vanderbilt Silver and Gold Project - More
- August 25, 2010 | Item | ShareThis


First Nickel Plans CAD$30 Million Project Loan Facility - More
- August 25, 2010 | Item | ShareThis


AQM Copper Inc. Intersects 201m of 0.68% Cu and 0.08 g/t Au - More
- August 25, 2010 | Item | ShareThis


Frontline Triples Land Package at Efemcukuru, Turkey - More
- August 25, 2010 | Item | ShareThis


Sphere Resources Inc. and Duncan Park Holdings Corporation Announce an Independent Technical 43-101 Report on the Dome Property in Red Lake, Ontario - More
- August 25, 2010 | Item | ShareThis


Expedition and Aldrin Complete Phase I Work Program on Yukon Brew Property - More
- August 25, 2010 | Item | ShareThis


Golden Chalice Resources Sets New Agenda and Provides Update Following Timmins' Meetings - More
- August 25, 2010 | Item | ShareThis


Paget Minerals Discovers High Grade Rare Earths at Mt. Bisson - More
- August 25, 2010 | Item | ShareThis


Alturas Engages Kallpa Securities SAB as Its Sponsor in Lima - More
- August 25, 2010 | Item | ShareThis


BCGold Corp. to Commence Phase II Drill Program at Engineer Gold Mine Property, B.C. - More
- August 25, 2010 | Item | ShareThis


Pediment Gold Corp.: Drilling at San Antonio Confirms Gold in the Intermediate Zone - More
- August 25, 2010 | Item | ShareThis


Arcus Samples 5 Metres of 2.59 g/t Gold and 20.0 g/t Silver at Its Touleary Property, Yukon - More
- August 25, 2010 | Item | ShareThis


Rockhaven Resources Ltd. Drilling Intersects Visually Promising Mineralization Below Well Mineralized Trenches at Its Klaza Gold-Silver Property in Yukon - More
- August 25, 2010 | Item | ShareThis


East Asia Minerals Corporation: Miwah Petrology and SEM Data Has Positive Implications for Miwah Metallurgy - More
- August 25, 2010 | Item | ShareThis


Nemaska Exploration Samples up to 18.35 g/t Gold, 17.65% Copper, 115 g/t Silver and 4.87% Ni From Duval Showings (Lac des Montagnes Property) - More
- August 25, 2010 | Item | ShareThis


MacDonald Mines Exploration Update, Including Assays, from Summer Program on its VMS and Nickel Targets in James Bay Lowlands - More
- August 25, 2010 | Item | ShareThis


Glass Earth Hits Higher Grade Intersection - More
- August 25, 2010 | Item | ShareThis


Franconia Minerals Completes 2010 Drill Program at Birch Lake Copper-Nickel-PGM Deposit - More
- August 25, 2010 | Item | ShareThis


East Asia Minerals Appoints Dr. Darryl Clark as VP Exploration - More
- August 25, 2010 | Item | ShareThis


US Precious Metals, Inc. Announces Drilling Assay Results - More
- August 25, 2010 | Item | ShareThis


Cliffs Natural Resources Exploration Inc. Makes Strategic Investment of $1,450,000 in Riverside Resources Inc. - More
- August 25, 2010 | Item | ShareThis


Goldcorp's Los Filos Mine Receives International Cyanide Code Certification - "GOLDCORP INC. (GG: NYSE; G: TSX) announced today that the Los Filos mine in Mexico has become fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold ("the Cyanide Code"). Los Filos is Goldcorp's fifth gold mine to receive full certification. The Marigold mine in Nevada was the first gold mine in the world to be fully certified under the Cyanide Code, followed by El Sauzal mine (the first in Mexico), Marlin mine (first in Central America) and Musselwhite mine (the first in Canada)." More
- August 25, 2010 | Item | ShareThis


Fronteer Gold Inc.: Emerging Copper-Gold Porphyry Returns 646.50 Metres of Continuous Copper-Gold Mineralization - "Halilaga's Central Zone and the surrounding prospective district have seen relatively minimal exploration. This drill hole demonstrates the continuation of the deposit to the north, well beyond what was previously thought to be the edge of the system," says Fronteer Gold President and CEO, Mark O'Dea. "Halilaga provides Fronteer Gold with excellent upside exposure to an exciting new deposit. Porphyry copper-gold deposits are an increasingly important part of global gold production because of their size, long mine life and strong cash-flow potential." More
- August 25, 2010 | Item | ShareThis


Harvest Gold Drills 12.2 Metres of 1.81 g Au/t and 20.9 g Ag/t Near Surface at the Valley Target at Rosebud - More
- August 25, 2010 | Item | ShareThis


ECU Silver Identifies Extension of Major Vein on the Chicago Property - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to report another set of results from its current underground development program, this time from opening the south-west extension of the Gambusinos vein, a major vein on the Chicago Property. A drift has been opened along the vein for a length of 76.25 metres (250 feet) that yielded an average of 3.23 grams per tonne (g/t) gold (Au), 104 g/t silver (Ag), 2.00% lead and 4.82% zinc over a width of 0.73 metres (2.4 feet)." More
- August 25, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2010

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted 25 August, 2010 | |


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