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Gold Seeker Closing Report: Gold Ends at a New Record Closing High

By: Chris Mullen, Gold-Seeker.com


-- Posted 7 September, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1257.20

+$8.20

Silver

$19.82

-$0.03

XAU

187.37

+0.30%

HUI

490.64

+0.70%

GDM

1489.46

+0.77%

JSE Gold

2535.61

+18.55

USD

82.82

+0.81

Euro

126.9

-1.95

Yen

119.33

+0.87

Oil

$74.09

-$0.51

10-Year

2.609%

-0.097

T-Bond

134.34375

+1.46875

Dow

10340.69

-1.03%

Nasdaq

2208.89

-1.11%

S&P

1091.84

-1.15%

 
 

 

The Metals:

 

Gold fell as much as $4.45 to $1244.65 in London before it jumped up to as high as $1259.35 in early New York trade and then fell back off a bit into the close, but it still ended with a gain of 0.66% and made a new record closing high.  Its record intraday high of $1265.07 was made this past June 21st.  Silver fell to $19.53 and climbed to $19.987 before it fell back off in late trade and ended with a loss of 0.15%.

 

Euro gold rose to about €988, platinum lost $1.75 to $1550.75, and copper fell a few cents to about $3.46.

 

Gold and silver equities saw only modest gains as the strength in gold was offset by general market weakness.

 

The Economy:

 

There were no major economic reports today, and there are none due out tomorrow.

 

The Markets:

 

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

 

Oil fell on renewed worries over banking and economic problems in Europe that sent the U.S. dollar index and treasuries higher and the Dow, Nasdaq, and S&P about 1% lower.

 

Among the big names making news in the market today were HP, Air Products and Airgas, and Oracle.

 

GATA Posts:

 

 

Egon von Greyerz: Gold entering a virtuous circle

 

The Statistics:

Activity from: 9/03/2010

Gold Warehouse Stocks:

10,768,418

-51,941

Silver Warehouse Stocks:

110,713,838

-

 

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

1294.442

41,617,620

US$52,298m

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

Gold Bullion Securities

127.26

4,091,555

US$5,137m

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

ETFS Physical Gold

128.04

4,116,468

US$5,171m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,568

US$574m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.99

1,575,002

US$1,967m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,970

US$6m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.466 tonnes, the LSE added 0.35 tonnes, the LSE ETFS added 0.25 tonnes, and the JSE subtracted 0.61 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 96.10: -0.02 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9276.73: -3.67 change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRE) private placement, Nevsun’s (NSU) new hire, Kinross Gold’s (KGC) updated mineral resource estimate, Ivanhoe’s (IVN) mine construction, Great Panther’s (GPR.TO) new discovery, and Silvercorp’s (SVM) drilling program were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Reserve

GRZ+12.63% $1.07

2.  Almaden

AAU +9.96% $2.87

3.  Paramount

PZG +7.41% $1.45

 

LOSERS

1.  Taseko

TGB -5.74% $4.43

2.  Vista Gold

VGZ -4.84% $2.36

3.  ITH

THM -2.24% $6.15

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:

REC Minerals Announces Results of Up to 1.0 Gram/Ton Gold from Chip Sampling at Its North Nonacho Property - More
- September 07, 2010 | Item | ShareThis


Inspiration Mining Acquires Additional Shares of Ursa Major Minerals Incorporated - More
- September 07, 2010 | Item | ShareThis


NWT Uranium Corp. Signs Memorandum of Understanding with Vietnam Atomic Energy Institute - More
- September 07, 2010 | Item | ShareThis


White Canyon Uranium Limited: USA Based Board Appointment - More
- September 07, 2010 | Item | ShareThis


Gravity Ltd.: Press Release - More
- September 07, 2010 | Item | ShareThis


Eldorado Withdraws Proposal to Acquire Andean Resources - "Our proposal has been met with broad support from the minority shareholders of Andean and our own shareholders. Extensive dissatisfaction exists among Andean shareholders as result of the Board of Andean choosing to focus on the agenda of a single large shareholder rather than the interests and desires of its broader shareholder registry. From an Andean shareholder perspective there is a keen interest in the creation of a high growth, high quality gold producer with significant market liquidity and superior leverage to the gold price, a dividend paying company that does not rely on base metals to achieve strong cash flows and where exploration success leads directly to superior share price returns." More
- September 07, 2010 | Item | ShareThis


Kodiak Drills 24.9 Metres Grading 9.31 gpt Gold at West Geraldton - More
- September 07, 2010 | Item | ShareThis


BacTech Schedules Special Meeting of Shareholders to Consider Plan of Arrangement - More
- September 07, 2010 | Item | ShareThis


Romarco Drills 77.7 Meters of 8.0 G/T and 148.3 Meters of 3.6 G/T - More
- September 07, 2010 | Item | ShareThis


Benton Advised of Marathon PGM Takeover by Stillwater Mining - More
- September 07, 2010 | Item | ShareThis


Soliciting Dealer Group Formed for Shareholder Vote - "Kinross (TSX:K - News)(NYSE:KGC - News) today announced the formation of a soliciting dealer group and engagement of BMO Capital Markets ("BMO") as soliciting dealer manager in connection with the special meeting of shareholders of Kinross to be held on September 15, 2010 to approve the issuance of Kinross common shares and Kinross common share purchase warrants in connection with the Red Back transaction." More
- September 07, 2010 | Item | ShareThis


Drilling Underway to Extend 'A' Zone Bulk Sample Site at Pele's East Highland Gold Project - More
- September 07, 2010 | Item | ShareThis


Goldbank Mining Corporation: Exploration Continues at Leota Gold Property, Klondike, Yukon - More
- September 07, 2010 | Item | ShareThis


Great Panther Makes New Discovery at 590 Metres Depth at Guanajuato and Expands Santa Margarita Vein - "GREAT PANTHER SILVER LIMITED (TSX:GPR - News) (the "Company") is pleased to report that the deep drilling program in the Rayas area of the Guanajuato mine has significantly expanded the size of the gold-rich Santa Margarita vein and has intersected a new zone of high grade silver-gold mineralization at a vertical depth of almost 600 metres." More
- September 07, 2010 | Item | ShareThis


Golden Predator Intercepts 25.91 m of 2.59 g/t Gold Including 9.15 m of 5.64 g/t Gold at Clear Creek Property, Yukon - More
- September 07, 2010 | Item | ShareThis


Goldcorp Declares Ninth Monthly Dividend Payment for 2010 - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) is pleased to declare its ninth monthly dividend payment for 2010 of $0.015 per share. Shareholders of record at the close of business on Friday, September 17, 2010 will be entitled to receive payment of this dividend on Friday, September 24, 2010. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends." More
- September 07, 2010 | Item | ShareThis


Arianne Creates a New Subsidiary: Canada Phosphate Inc. - More
- September 07, 2010 | Item | ShareThis


First Quantum Minerals Ltd. Announces Issuance of Shares - More
- September 07, 2010 | Item | ShareThis


Caerus Resource Corp. Reports 41.6 Grams Per Tonne Gold, 136 Grams Per Tonne Silver and 1.87% Copper at El Cafatel-Acquisition Proceeding Subject to Conditions - More
- September 07, 2010 | Item | ShareThis


Tanzanian Royalty Agrees to $1 Million Private Placement - "The private placement consists of a three-year note in the principal amount of $1,000,000, bearing interest at 3% and convertible into 118,182 common shares at the price of $4.518 per share, representing the five-day weighted average trading price of the common shares on the Toronto Stock Exchange for the period ended August 9, 2010, less a discount of 15%." More
- September 07, 2010 | Item | ShareThis


American Bonanza Raises $7 Million in Property Sale - More
- September 07, 2010 | Item | ShareThis


Goldrush Announces Positive Results of Phase 1-2010 Core Drilling Program to Expand Ronguen Gold Deposit - More
- September 07, 2010 | Item | ShareThis


ANACONDA MINING ANNOUNCES COMMENCEMENT OF COMMERCIAL PRODUCTION AT PINE COVE GOLD MINE - More
- September 07, 2010 | Item | ShareThis


NioGold and Aurizon Commence Drilling on the Marban Block Property - More
- September 07, 2010 | Item | ShareThis


Royal Standard Minerals, Inc. (RYSMF) Has Secured a Credit Facility and Completes a Private Placement Financing - More
- September 07, 2010 | Item | ShareThis


Asia Now Announces Proposed Private Placements - More
- September 07, 2010 | Item | ShareThis


First Liberty Power Corp. Commissions Additional Gravity Survey on Lida Valley Lithium Claim - More
- September 07, 2010 | Item | ShareThis


European Goldfields Limited - DIRECTORS DEALINGS - More
- September 07, 2010 | Item | ShareThis


ESO Commences Drilling on Donna Gold Property - More
- September 07, 2010 | Item | ShareThis


General Metals Appoints Paul Wang as President - More
- September 07, 2010 | Item | ShareThis


Pediment Engages METCON Research to Conduct Metallurgical Test Program for San Antonio - More
- September 07, 2010 | Item | ShareThis


AXMIN Grants Consent Over Iron Rights on the Bambari I Permit to Ferrum Resources Ltd, CAR - More
- September 07, 2010 | Item | ShareThis


Thunder Bay North-Mineral Resource Estimate Update - More
- September 07, 2010 | Item | ShareThis


WITS GOLD TO CONSOLIDATE MINERAL HOLDINGS IN THE SOUTHERN FREE STATE - More
- September 07, 2010 | Item | ShareThis


Kiska Consolidates Ownership of Kliyul Project, BC - More
- September 07, 2010 | Item | ShareThis


Lake Victoria Updates Drilling Progress at Singida-Londoni Gold Project, Tanzania - More
- September 07, 2010 | Item | ShareThis


Gladstone Pacific Nickel Limited - (ACN 104 261 887) - QNI Takeover Offer - GPNL receives bidder's statement - More
- September 07, 2010 | Item | ShareThis


Red Back Mining Inc.: Tasiast M&I Resources Increase by 42% to 9.25 Moz - More
- September 07, 2010 | Item | ShareThis


Solitaire Minerals Outlines Gold-Bearing Horizon Near Red Chris Project - More
- September 07, 2010 | Item | ShareThis


Millrock Reports on Drilling Results, Expanded Drilling Program and Property Acquisition at Galiuro Project, Arizona - More
- September 07, 2010 | Item | ShareThis


Queenston Reports 2.05 g/t Au Over 32.0 Metres at Upper Canada - More
- September 07, 2010 | Item | ShareThis


Trevali and Glencore Finalize Legal Agreement for Development of Santander Zinc-Lead-Silver Mine Project - More
- September 07, 2010 | Item | ShareThis


Comstock Mining Reports Measured and Indicated Resources Increase to Over One Million Gold Equivalent Ounces - More
- September 07, 2010 | Item | ShareThis


Eurasian Minerals Announces Montagne and Platon Licenses Selected for Designated Project Status in Haiti - More
- September 07, 2010 | Item | ShareThis


HudBay Minerals to Present at the Bank of America Merrill Lynch 16th Annual Canada Mining Conference - More
- September 07, 2010 | Item | ShareThis


NGP Announces US $98.5 Million Financing Closed with John Hancock - More
- September 07, 2010 | Item | ShareThis


Gold American Mining Corp. to Initiate Field Operations at La Escondida Project - More
- September 07, 2010 | Item | ShareThis


Gowest Intersects 5m of 8.1 g/t Gold on New Texmont Exploration Target West of its Flagship Frankfield East Gold Deposit Near Timmins, Ontario - More
- September 07, 2010 | Item | ShareThis


Western Pacific Retains Investor Relations Consultants - More
- September 07, 2010 | Item | ShareThis


New Exploration Team at Jerritt Canyon Starts With a Bang - More
- September 07, 2010 | Item | ShareThis


Santa Barbara Update on Sancos Program - More
- September 07, 2010 | Item | ShareThis


Gossan Initiates Shareholder Rights Plan - More
- September 07, 2010 | Item | ShareThis


Fission J-Zone Vertical Step-Out Intersects 12m of 5.95% U308 at Unconformity, Including 6m Grading 11.71% U308 - More
- September 07, 2010 | Item | ShareThis


Aura Silver Reports High Grade Gold/Silver Assays at Greyhound-Up to 28.2 G/T Gold and 5.38 Kilograms/T Silver - More
- September 07, 2010 | Item | ShareThis


Kivalliq Updates on Lac Cinquante Phase 2 Drilling - More
- September 07, 2010 | Item | ShareThis


Sunridge Grants Options - More
- September 07, 2010 | Item | ShareThis


Strategic Metals Ltd. Announces Additional Positive Drill Results From Its Keg Property in Yukon - More
- September 07, 2010 | Item | ShareThis


American Paramount Gold Corp. Appoints Former Vice-Chairman of Merrill Lynch Canada, Mr. Hugh Aird, to Its Board of Directors - More
- September 07, 2010 | Item | ShareThis


Tombstone Exploration Corporation Renews Bureau of Land Management Mining Claims - Arizona & Nevada - More
- September 07, 2010 | Item | ShareThis


American Lithium Minerals Closes $750,000 Private Placement - More
- September 07, 2010 | Item | ShareThis


Stillwater Mining Company and Marathon PGM Corp Announce Acquisition Agreement - More
- September 07, 2010 | Item | ShareThis


MARATHON PGM CORPORATION AND STILLWATER MINING COMPANY ANNOUNCE ACQUISITION AGREEMENT - More
- September 07, 2010 | Item | ShareThis


Quadra FNX Expands Victoria Zone 4 Discovery - More
- September 07, 2010 | Item | ShareThis


Cadillac Ventures Inc.-Drilling Commences in Spain - More
- September 07, 2010 | Item | ShareThis


Tuffnell Ltd. Intercepts High-Grade Gold/Copper at Its Little Butte Gold Project in Arizona - More
- September 07, 2010 | Item | ShareThis


La Mancha Announces a Positive Preliminary Economic Assesment for Its Hassai Mine VMS Project - More
- September 07, 2010 | Item | ShareThis


Capstone Reports Additional High Grade Copper-Zinc Intercepts at Kutcho Project - More
- September 07, 2010 | Item | ShareThis


Avion Gold Produces 7,260 Ounces in August 2010 - More
- September 07, 2010 | Item | ShareThis


Abacus Mining & Exploration Engages Peter Grandich - More
- September 07, 2010 | Item | ShareThis


Canada Lithium Announces Closing of Sale of Tully Gold Prospect - More
- September 07, 2010 | Item | ShareThis


MAX begins drilling to test mineralized structure at depth at Table Top gold project in Nevada. - More
- September 07, 2010 | Item | ShareThis


TVI Pacific Announces Positive Results From Balabag Gold Project Drill Program - More
- September 07, 2010 | Item | ShareThis


Genco Provides Mexico Tax Update - More
- September 07, 2010 | Item | ShareThis


Ashburton Ventures Inc.: Newmont Provides Historical Data for Deep Creek - More
- September 07, 2010 | Item | ShareThis


European Goldfields -- Directors Dealings - More
- September 07, 2010 | Item | ShareThis


Orosur Mining Inc Announces Results of the Feasibility Study For Arenal Deeps in Uruguay - More
- September 07, 2010 | Item | ShareThis


Greystar Resources Appoints Victoria Vargas as VP Investor Relations and Corporate Communications - More
- September 07, 2010 | Item | ShareThis


Luis Baertl Joins Vena Resources Board of Directors - More
- September 07, 2010 | Item | ShareThis


Medusa Mining Limited: Investor Presentation - More
- September 07, 2010 | Item | ShareThis


Nevsun Hires VP Business Development and Investor Relations - "Nevsun Resources Ltd. (TSX:NSU - News)(AMEX:NSU - News) is pleased to announce it has added Scott Trebilcock to its senior management team as VP Business Development and Investor Relations." More
- September 07, 2010 | Item | ShareThis


Kinross Provides Conceptual Estimate of Tasiast Resource - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) today released additional information regarding its proposed friendly combination with Red Back Mining Inc., following Red Back's disclosure today of an updated mineral resource estimate at its Tasiast deposit in Mauritania." More
- September 07, 2010 | Item | ShareThis


Ivanhoe Mines Reports Construction of Oyu Tolgoi Copper-Gold Complex on Schedule for Initial Test Production in 2012 - "Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News), and John Macken, President and Chief Executive Officer, said today that full-scale construction of the company's Oyu Tolgoi copper-gold complex is proceeding on schedule and the first ore now is expected to be processed during the fourth quarter of 2012." More
- September 07, 2010 | Item | ShareThis


Silvercorp Commenced Drilling Program at the Silvertip Project, British Columbia - "Silvercorp Metals Inc. (TSX:SVM - News)(NYSE:SVM - News) ("Silvercorp" or the "Company") announced today that a surface drill program has commenced at the Silvertip project, British Columbia, Canada. Initially the drill program will focus on areas where 21 historic drill holes yielded significant silver, lead, and zinc results of mineralization intercepts but these results were not included in the 2010 resource estimation as the drill holes were too widely spaced (please see www.silvercorp.ca for drilling area locations)." More
- September 07, 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 7 September, 2010 | |


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