-- Posted 3 September, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1249.00 | -$2.00 | +1.05% |
Silver | $19.85 | +$0.33 | +4.25% |
XAU | 186.81 | +0.21% | +1.34% |
HUI | 487.22 | -0.17% | +0.08% |
GDM | 1478.09 | -0.03% | +0.19% |
JSE Gold | 2468.81 | -9.77 | +0.61% |
USD | 82.01 | -0.39 | -1.09% |
Euro | 128.94 | +0.70 | +1.25% |
Yen | 118.53 | -0.11 | +1.17% |
Oil | $74.60 | -$0.42 | -0.76% |
10-Year | 2.706% | +0.078 | +2.04% |
Bond | 132.875 | -1.0625 | -0.61% |
Dow | 10447.93 | +1.24% | +2.93% |
Nasdaq | 2233.75 | +1.53% | +3.72% |
S&P | 1104.51 | +1.32% | +3.75% |
The Metals:
Gold climbed to as high as $1253.85 in London before it fell all the way to $1238.04 in early New York trade after the jobs report was released, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.16%. Silver fell to as low as $19.41 by about 9AM EST, but it then stormed to a 30 month high of $19.91 by midday and ended with a gain of 1.69%. Silver’s previous high of $20.64 was achieved on March 5th of 2008. Gold closed just $7.65 from its all time high of $1256.65 set just two and half months ago on June 18th.
Euro gold fell to about €969, platinum gained $7 to $1552.50, and copper remained at about $3.49.
Gold and silver equities fell over 1% by midmorning, but they then rallied back higher for most of the rest of the day and ended near unchanged.
Rising prices trigger 2010 gold rush Reuters
Silver ends at two-year high; gold closes lower MarketWatch
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | Aug | -54K | -120K | -54K |
Unemployment Rate | Aug | 9.6% | 9.6% | 9.5% |
Hourly Earnings | Aug | 0.3% | 0.1% | 0.2% |
Average Workweek | Aug | 34.2 | 34.2 | 34.2 |
ISM Services | Aug | 51.5 | 53.0 | 54.3 |
The BLS net birth/death adjustment added 115,000 jobs to August’s payrolls. Private payrolls rose 67,000.
All of this week’s other economic reports:
Next week’s economic highlights include the fed’s Beige Book and Consumer Credit on Wednesday, Initial Jobless Claims and the Trade Balance on Thursday, and Wholesale Inventories on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on easing worries over downgraded storms in the Gulf of Mexico.
The U.S. dollar index and treasuries fell on mostly better than expected jobs data that sent the Dow, Nasdaq, and S&P over 1% higher.
Among the big names making news in the market Friday were Time Warner Cable, Samsung, Campbell Soup, 3Par, and Ford.
GATA Posts:
James Turk: Big money quickly buying dips in gold and silver
Nielson, Weir badger CFTC to act against silver market manipulation
The Statistics:
Activity from: 9/01/2010
Gold Warehouse Stocks: | 10,820,796 | - |
Silver Warehouse Stocks: | 110,221,595 | -90,443 |
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 | 1294.908 | 41,632,601 | US$51,624m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 126.91 | 4,080,230 | US$5,100m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 127.79 | 4,108,435 | US$5,128m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,589 | US$570m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.60 | 1,594,626 | US$1,988m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,970 | US$6m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 9.12 tonnes, the LSE subtracted 0.14 tonnes, and the LSE ETFS added 0.75 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 96.12: +0.73 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9280.40 - No change from yesterday’s data.
The Miners:
Almaden’s (AAU) drilling, Goldcorp’s (GG) acquisition of Andean Resources (AND.TO), and MAG Silver’s (MVG) VP of operations appointment were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Almaden | AAU+18.64% $2.61 |
2. Vista Gold | VGZ +9.73% $2.48 |
3. Alexco | AXU +7.32% $4.40 |
LOSERS
1. US Gold | UXG -2.31% $5.08 |
2. Goldcorp | GG -2.19% $42.84 |
3. Eldorado | EGO-1.85% $19.10 |
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:
Goldrea Terminates Private Placement with China Finance/Negotiating Gold Loan - More
- September 03, 2010 | Item | ShareThis
Goldcorp eyes fresh luster for its treasure chest - "By adding Andean Resources (AND.AX)AND.to to its growing bundle of acquisitions, Canada's Goldcorp (G.TO) will put itself in a solid position to achieve its goal of doubling bullion production by 2018.
Through its aggressiveness, Goldcorp has grown from a junior miner with revenues of $70 million in 2000 to the world's No. 2 gold company by market capitalization, with 2009 annual revenue of more than $2.7 billion." More
- September 03, 2010 | Item | ShareThis
SLAM RECEIVES SUPPORT FROM JOE DWEK MANAGEMENT AND PINETREE CAPITAL - More
- September 03, 2010 | Item | ShareThis
Cadan Completes First Tranche of Private Placement - More
- September 03, 2010 | Item | ShareThis
Maya Gold & Silver Completes Private Placement - More
- September 03, 2010 | Item | ShareThis
Riverstone Announces Stock Options - More
- September 03, 2010 | Item | ShareThis
Almaden Minerals Ltd.: Ixtaca Drilling to Recommence - "Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM - News)(AMEX:AAU - News) is pleased to report that a phase II diamond drilling program is set to recommence at the newly discovered Ixtaca zone on its 100% owned Tuligtic Project located in Puebla State, Mexico. Almaden geology staff and drilling personnel are on site and drilling is expected to commence in the coming days. Almaden plans several holes to confirm the orientation of the vein system before systematic step-out drilling, to explore the strike and depth extent of the vein system, commences." More
- September 03, 2010 | Item | ShareThis
ROCA MAX Mine Production Restarts - More
- September 03, 2010 | Item | ShareThis
Eurasian Minerals Announces Appointment of Mr. Paul H. Zink as President of Eurasian Capital, Grant of Bonus Shares and Grant of Stock Options - More
- September 03, 2010 | Item | ShareThis
VHGI Holdings, Inc. Announces Montana Mining Update - More
- September 03, 2010 | Item | ShareThis
Luna Gold Releases Updated Ni 43-101 Technical Report for Aurizona Gold Project - More
- September 03, 2010 | Item | ShareThis
Rockhaven Resources Ltd.: Corporate Update - More
- September 03, 2010 | Item | ShareThis
Crowflight Provides Update on Jinchuan Offer - More
- September 03, 2010 | Item | ShareThis
Gold Canyon Proposes Private Placement for Up to $4,000,000 - More
- September 03, 2010 | Item | ShareThis
Rising prices trigger 2010 gold rush - "The soaring price of gold XAU= has triggered increased M&A activity in the sector. Gold hit a record of almost $1,265 an ounce in June and averaged close to $1,200 in the second quarter -- up about 8 percent from the previous quarter and nearly 30 percent above year-earlier levels." More
- September 03, 2010 | Item | ShareThis
San Gold Tables Mineral Resource Estimate Update for Rice Lake Project Area - More
- September 03, 2010 | Item | ShareThis
Arco Announces Preliminary Drill Results at Predilecta - More
- September 03, 2010 | Item | ShareThis
Magma Metals Limited: Thunder Bay North-Exploration Update - More
- September 03, 2010 | Item | ShareThis
Zaruma Resources Announces Increased Bridge Financing from Gravity Ltd - More
- September 03, 2010 | Item | ShareThis
Salazar Engages First Canadian Capital for Investor Relations - More
- September 03, 2010 | Item | ShareThis
Sutter Gold Mining Closes US $3.65 Million Loan Financing - More
- September 03, 2010 | Item | ShareThis
Victoria Joint Venture - Update - More
- September 03, 2010 | Item | ShareThis
Ruby Creek Resources -- A Year in Review - More
- September 03, 2010 | Item | ShareThis
Champion Obtains Conditional Listing on the Toronto Stock Exchange - More
- September 03, 2010 | Item | ShareThis
LIM Reaches Agreement With Quebec Innu to Remove Barriers - More
- September 03, 2010 | Item | ShareThis
Medusa Mining Limited: Notice of General Meeting - More
- September 03, 2010 | Item | ShareThis
ROCA Update on Temporary Shutdown at MAX Mine - More
- September 03, 2010 | Item | ShareThis
Kinross and Red Back Confident of Value-Creation Potential of Friendly Combination - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) and Red Back Mining Inc. (TSX:RBI - News) have re-affirmed their strong commitment to completing a friendly combination of the two companies, and have rejected the recommendation contained in a report from Institutional Shareholder Services (ISS) on the transaction. The report is in contrast to the positive recommendation of Glass, Lewis & Co. LLC, a professional service firm that provides proxy research and voting recommendations to institutional investors." More
- September 03, 2010 | Item | ShareThis
MAG Silver Appoints Michael Petrina, P.ENG as Vice President Operations - "Mr. Petrina brings over 25 years of extensive experience in operations, engineering, mine development, financial modelling and acquisition analysis, and is a past technical advisor and engineering consultant for numerous mining companies. He is a Professional Engineer (P.ENG, Mining) registered in British Columbia and holds a MBA from the University of Athabasca. Mr. Petrina recently held the position of Vice President, Mining for Hawthorne Gold Corp. and has worked directly for or as a consultant for Candente Resource Corp., Adriana Resources Ltd., Adanac Molybdenum Corporation, Pan American Silver Corporation and Breakwater Resources Ltd." More
- September 03, 2010 | Item | ShareThis
Canada's Goldcorp to buy Andean for $3.4 billion - "Canada's Goldcorp Inc agreed to buy Argentina-focused gold miner Andean Resources Ltd for C$3.6 billion ($3.4 billion), trumping a competing offer from rival Eldorado Gold Corp.
The takeover is the latest in a series of gold mining deals this year, including Australia's Newcrest Mining's $8.4 billion purchase of rival Lihir Gold, as near-record prices for the metal boost the hunt for reserves and pump cash into the sector." More
- September 03, 2010 | Item | ShareThis
Goldcorp Enhances Gold Production Pipeline With Acquisition of Andean Resources - "Goldcorp Inc. ("Goldcorp") (NYSE:GG, TSX:G) and Andean Resources Limited ("Andean") (TSX and ASX: AND) today announced an agreement whereby Goldcorp will acquire, through a scheme of arrangement under Australian law ("the Arrangement"), all of the outstanding shares of Andean. The total consideration for the purchase of 100% of the fully diluted shares of Andean is approximately C$3.6 billion." More
- September 03, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 3 September, 2010 | |