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Gold Seeker Closing Report: Gold and Silver End Mixed

By: Chris Mullen, Gold-Seeker.com


-- Posted 20 September, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1279.50

+$3.50

Silver

$20.76

-$0.02

XAU

194.35

+1.39%

HUI

501.89

+1.37%

GDM

1525.62

+1.03%

JSE Gold

2526.24

-1.85

USD

81.32

-0.10

Euro

130.65

+0.30

Yen

116.66

+0.12

Oil

$74.86

+$1.20

10-Year

2.706%

-0.040

T-Bond

132.03125

+0.50

Dow

10753.62

+1.37%

Nasdaq

2355.83

+1.74%

S&P

1142.71

+1.52%

 
 

 

The Metals:

 

Gold climbed to as high as $1283.05 in Asia before it fell back near unchanged in early New York trade and then jumped to a new session high of $1283.45 by late morning ahead of a dip back to $1277.00 in early afternoon trade, but it then rallied back higher into the close and ended at a new record closing high with a gain of 0.27%.  Silver rose to as high as $20.97 in Asia and fell to as low as $12.67 in early afternoon New York trade before it rallied back higher into the close, but it still ended with a loss of 0.1%.

 

Euro gold rose to over €979, platinum closed at $1623.50, and copper climbed a few cents to about $3.51.

 

Gold and silver equities rose over 2% by late morning before they fell back off a bit in afternoon trade, but they still ended with over 1% gains.

 

Check out this impressive interactive Gold Through the Ages timeline from U.S. Global Investors.

 

The Economy:

 

Report

For

Reading

Expected

Previous

NAHB Market Index

Sep

13

14

13

 

Tomorrow at 8:30AM EST brings Housing Starts for August expected at 550,000 and Building Permits expected at 560,000 and at 2:15PM is the FOMC rate decision.

 

The Markets:

 

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

 

Oil rose as the U.S. dollar index fell ahead of tomorrow’s fed announcement.

 

Treasuries found slight gains while the Dow, Nasdaq, and S&P rose over 1% on speculation that the fed will remain accommodative.

 

Among the big names making news in the market today were GMAC, Discover, AIG, Verizon, Lennar, and IBM.

 

GATA Posts:

 

 

Some in China would drop U.S. holdings and invest in their own country

More at http://gata.org/

 

The Statistics:

Activity from: 9/17/2010

Gold Warehouse Stocks:

10,807,393

+7,203

Silver Warehouse Stocks:

112,750,356

+165,440

 

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

1300.825

41,822,831

US$53,489m

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

Gold Bullion Securities

126.05

4,052,588

US$5,194m

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

ETFS Physical Gold

127.95

4,113,552

US$5,273m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,502

US$585m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.50

1,559,219

US$1,976m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,969

US$6m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.079 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 98.29

Silver Trust (SLV) Total Tonnes in Trust: 9381.74

 

The Miners:

 

Gold Fields’ (GFI) option agreement, SEMAFO’s (SMF.TO) drill results, Rubicon’s (RBY) secondary offering update, Taseko’s (TGB) preliminary short-form base shelf, Gammon Gold’s (GRS) initial reserves report, Freeport’s (FCX) investment in McMoRan Exploration, Kirkland’s (KGI.TO) drill results, Silvermex’s (SMR.V) business combination agreement with Genco (GGC.TO), Minefinders’ (MFN) discovery, Oremex’s (ORM.V) obtained surface rights and Sprott investment, and Apogee’s (APE.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Capital Gold

CGC +9.32% $3.87

2.  Ivanhoe

IVN +5.76% $21.50

3.  Allied Nevada

ANV +5.76% $21.50

 

LOSERS

1.  Claude

CGR -4.59% $1.41

2.  Gammon Gold

GRS -4.16% $7.15

3.  Exeter

XRA -3.20% $6.66

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:

Soldi Ventures Inc. Acquires Gold Prospect Next to Rainy River Gold Project - More
- September 20, 2010 | Item | ShareThis


Primero Provides Exploration Update; New Reserves Identified - More
- September 20, 2010 | Item | ShareThis


Adroit Resources Inc.: $306,100 Private Placement Closed and $310,000 Loan/Interest Conversion - More
- September 20, 2010 | Item | ShareThis


First Point Completes Three Drill Holes on a Second Target at the Decar Nickel-Iron Alloy Property - More
- September 20, 2010 | Item | ShareThis


Nanika Resources Inc. - Bulldog Creek Update - More
- September 20, 2010 | Item | ShareThis


Gold Port Announces Secondary Non-Brokered Private Placement - More
- September 20, 2010 | Item | ShareThis


CHEETAH VENTURES LTD. - ACQUISITION OF YEMEN GOLD PROSPECTS - More
- September 20, 2010 | Item | ShareThis


Palladon Ventures Ltd.: Shipping Update Regarding CML Corporation - More
- September 20, 2010 | Item | ShareThis


Artha Resources Corporation: Argentina Rare Earth Update - More
- September 20, 2010 | Item | ShareThis


Win-Eldrich Mines Ltd. begins work on historic gold resource at its 100% owned Ashdown Mine - More
- September 20, 2010 | Item | ShareThis


Silvermex Resources Ltd. and Genco Resources Ltd. Enter into Business Combination Agreement - "Silvermex Resources Ltd. (TSX-V:SMR - News) ("Silvermex") and Genco Resources Ltd. (TSX:GGC - News) ("Genco") are pleased to announce that they have entered into a definitive agreement (the "Agreement") to combine their respective businesses in an all-share transaction. The transaction will create a well managed, growth-oriented silver and gold producer focused on aggressively increasing its production profile." More
- September 20, 2010 | Item | ShareThis


Puget Ventures Inc. and Imperial Mining Holding Ltd. to Form a Significant International Cobalt Exploration Company - More
- September 20, 2010 | Item | ShareThis


Spectral Capital Acquires Interest in Mineral Properties - More
- September 20, 2010 | Item | ShareThis


Eagle Hill Continues to Extend Zone 27 and Intersects 12.0 Meters of 17.36 g/t (Uncut) in a New Mineralized Structure at Windfall - More
- September 20, 2010 | Item | ShareThis


Matamec Discovers up to 6.48% TREO and 72% + HeavyREO Y2O3/TREO on the TH Showing - More
- September 20, 2010 | Item | ShareThis


Victory Nickel Retains 100% of Mel Nickel Property - More
- September 20, 2010 | Item | ShareThis


Kodiak Signs Option Agreement on Milestone Extension - More
- September 20, 2010 | Item | ShareThis


Dia Bras Renegotiates Reyna de Oro Option Agreement at Bolivar Property - More
- September 20, 2010 | Item | ShareThis


New Guinea Gold Grants Options - More
- September 20, 2010 | Item | ShareThis


NYAH ANNOUNCES SARB APPROVAL - More
- September 20, 2010 | Item | ShareThis


Fancamp Identifies Potential Gold Rich VMS System at Stoke and Outlines Other Exploration Initiatives - More
- September 20, 2010 | Item | ShareThis


Pacific Ridge Exploration Ltd.: Financing Update-$1,306,000 Added to Treasury - More
- September 20, 2010 | Item | ShareThis


China Gold International Resources' Special Meeting of Shareholders - More
- September 20, 2010 | Item | ShareThis


Soltoro Ltd. to Be Featured on CEO Clips Airing on BNN - More
- September 20, 2010 | Item | ShareThis


General Metals Reports Hill Zone Drill Results From Independence Includes 145 Feet Averaging 0.034 opt Gold and 0.63 opt Silver - More
- September 20, 2010 | Item | ShareThis


Galahad Metals Inc.: Larry Hoover Appointed to the Board of Directors - More
- September 20, 2010 | Item | ShareThis


Lake Victoria Completes Drilling of Sambaru 3, 4 and 5 Targets at Singida Gold Project, Tanzania and Submits the First Batch of Samples for Gold Assaying - More
- September 20, 2010 | Item | ShareThis


Redhawk Announces Royalty Buyout Agreement - More
- September 20, 2010 | Item | ShareThis


Platinum Group Metals Added to the S&P/TSX SmallCap Index - More
- September 20, 2010 | Item | ShareThis


Globex Updates Its Timmins Area, Talc-Magnesite Project - More
- September 20, 2010 | Item | ShareThis


105.51 g/t Gold Intercepted Over 1.72 Metres at San José de Gracia's Tres Amigos - More
- September 20, 2010 | Item | ShareThis


Solid Appoints New CEO - More
- September 20, 2010 | Item | ShareThis


NETWORK COMPLETES DRILLING AT CALDERA - More
- September 20, 2010 | Item | ShareThis


CANTEX ANNOUNCES AL HARIQAH GOLD PROJECT LETTER OF INTENT - More
- September 20, 2010 | Item | ShareThis


Gold American Mining Corp. Appoints Drilling Contractor for Guadalupe Property - More
- September 20, 2010 | Item | ShareThis


Wolverine Appoints James Dawson Director, VP Exploration - More
- September 20, 2010 | Item | ShareThis


Richfield Engages Mr. Rob Pease as an Advisor - More
- September 20, 2010 | Item | ShareThis


Minera Andes Resolves Lawsuit With Hochschild Mining - More
- September 20, 2010 | Item | ShareThis


Strongbow Acquires Midway Gold Project Within the Haile-Brewer Gold Trend, South Carolina - More
- September 20, 2010 | Item | ShareThis


Golden Hope Appoints Michael T. Zurowski to Its Board of Directors - More
- September 20, 2010 | Item | ShareThis


Anfield Reports Interim Mineral Resource Estimate for Mayaniquel Nickel Project, Guatemala-Significant Increase over Previous Estimate - More
- September 20, 2010 | Item | ShareThis


Tarsis Announces $1,000,000 Financing - More
- September 20, 2010 | Item | ShareThis


Continental Nickel Reports Additional Assays From Ntaka Hill, Including 1.82% Nickel and 0.42% Copper Over 7.35 Metres; and 3.41% Nickel and 1.03% Copper - More
- September 20, 2010 | Item | ShareThis


Tahoe Resources Announces New Drilling, Extends Mineralization - More
- September 20, 2010 | Item | ShareThis


U.S. Rare Earths, Inc. Awards Boeing Contract for Remote Sensing Services - More
- September 20, 2010 | Item | ShareThis


Sulliden Expands Mineralization at Shahuindo and Identifies Significant Potential to Extend the Main Mineralized Corridor - More
- September 20, 2010 | Item | ShareThis


Mercer Gold Corp. Appoints James M. Stonehouse as Vice President of Exploration - More
- September 20, 2010 | Item | ShareThis


Tuffnell Ltd. Announces Land Acquisition at its Little Butte Gold Project in Arizona - More
- September 20, 2010 | Item | ShareThis


Capstone Reports Significant Drill Results from Mala Noche Footwall Zone, Cozamin Mine - More
- September 20, 2010 | Item | ShareThis


Crowflight Appoints Kevin Zhu to Board of Directors - More
- September 20, 2010 | Item | ShareThis


Lake Shore Gold Intersects Wide, High-Grade Gold Mineralization at Bell Creek Mine, Development Along North A Zone Progressing - More
- September 20, 2010 | Item | ShareThis


Rio Novo Gold Intersects 2.73 g/t Au Over 10.0m Extension and 3.42 g/t Au Over 9.3m Infill at Arroz Target, Almas Gold Project - More
- September 20, 2010 | Item | ShareThis


Reservoir Starts Vranjska Banja Geothermal Reservoir Testing and Reports Progress on Its Brodarevo Hydroelectric Projects in Serbia - More
- September 20, 2010 | Item | ShareThis


Medoro Announces Appointment of Interim Chief Executive Officer - More
- September 20, 2010 | Item | ShareThis


Barkerville Makes New Gold Discovery and Drills 22.6m of 6.93 g/T Gold at Bonanza Ledge - More
- September 20, 2010 | Item | ShareThis


Minera IRL Update on Pan de Azucar Gold Exploration Project, Santa Cruz, Patagonia - More
- September 20, 2010 | Item | ShareThis


Gold Fields Signs Option Agreement for 60% Interest in Philippines Gold-Copper FSE Project - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that it has entered into option agreements with Lepanto Consolidated Mining Company (Lepanto), a company listed in the Philippines, and Liberty Express Assets (Liberty), a private holding company, to acquire a 60% interest in the undeveloped gold-copper Far Southeast (FSE) deposit in the Philippines." More
- September 20, 2010 | Item | ShareThis


SEMAFO Intersects a New Wider, High-Grade Area at Mana's Wona SW 4.20 g/t Au Over 32 Meters - "SEMAFO (TSX:SMF - News) today announced results from its drilling program on the Wona SW Zone at the Company's Mana Mine in Burkina Faso. The Wona SW Zone is located immediately southwest and parallel to the Wona Main Deep Zone. Core drilling results add significant underground depth potential for wider and higher grade mineralization, while reverse-circulation ("RC") drilling results significantly expand the up-dip open pit extension of the mineralization over one kilometer. These outstanding results will conceivably add new reserves to the Wona Pit." More
- September 20, 2010 | Item | ShareThis


Minefinders Announces Discovery of Gold and Silver System at Its La Virginia Project - "Assay results from the first nine drill holes include intervals of 2.0 metres assaying 12.17 grams per tonne (gpt) gold ("Au") with 51.5 gpt silver ("Ag") in LV 10-4C, and 1.1 metres of 5.75 gpt Au with 434.3 gpt Ag in LV 10-8C. More widespread intercepts include 27.0 metres containing 1.01 gpt Au with 89.9 gpt Ag in LV 10-7C with internal higher grade intervals. "We are encouraged by this new discovery, particularly as it is in the initial stages of the first drill program ever conducted at La Virginia. As our understanding of this large mineralized system evolves, we will expand our drilling program" commented Tench Page, Vice President, Exploration. The significant intercepts from the first nine drill holes are listed in Table I below and a drill location map is available on the Company's website (www.minefinders.com)." More
- September 20, 2010 | Item | ShareThis


Rubicon Provides Update on Secondary Offering - "Rubicon Minerals Corporation ("Rubicon" or the "Company") (TSX:RMX.to - News) made a further announcement today in connection with the previously announced overnight-marketed secondary offering (the "Offering") by Evanachan Limited and McEwen Trading LP (the "Selling Shareholders"), entities owned or controlled by Robert R. McEwen. Pursuant to the terms of the underwriting agreement, entered into on September 17, 2010 by the underwriter, the Company and the Selling Shareholders, the underwriter has agreed to purchase a total of 45,714,357 common shares of Rubicon (the "Common Shares") from the Selling Shareholders at a price of C$4.16 per Common Share for aggregate gross proceeds to the Selling Shareholders of approximately C$190,171,725." More
- September 20, 2010 | Item | ShareThis


Taseko Files Preliminary Base Shelf Prospectus - "Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company"), has today filed a preliminary short-form base shelf prospectus with the securities commissions in each of the provinces of Canada, except Quebec, and a corresponding shelf registration statement with the United States Securities and Exchange Commission on Form F-10. Once the shelf prospectus is cleared and the shelf registration statement becomes effective, these filings will, subject to securities regulatory requirements, allow the Company to make offerings of common shares, warrants, subscription receipts, debt securities, or any combination of such securities (all of the foregoing, collectively, the "Securities") up to an aggregate offering price of CAD$300,000,000 during the 25-month period that the final short form base shelf prospectus, including any amendments thereto, remains effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement and, subject to applicable regulations, may include 'at-the-market' transactions, private placements, public offerings or strategic investments." More
- September 20, 2010 | Item | ShareThis


Sprott Asset Management Invests In Oremex - "Oremex Resources Inc. (TSX VENTURE:ORM - News) is pleased to announce a proposed private placement of units, at a price of $0.09 per unit, for gross proceeds of approximately $1,700,000. Each unit will be comprised of one share of the Company and one-half of one share purchase warrant. Each whole warrant will be exercisable to purchase one share of the Company, at a price of $0.14 per share, for a period of two years from the date of issuance." More
- September 20, 2010 | Item | ShareThis


Oremex Obtains Surface Access Rights at San Lucas Project - "Oremex Resources Inc. (TSX-V:ORM - News) is pleased to announce that the company has reached an agreement with the local community to allow surface access rights at its wholly owned San Lucas project in Durango, Mexico. With access to the surface secured, the company is now in a position to carry out more extensive exploration activity toward the continued advancement of the San Lucas project. The company anticipates commencing a 2,000 metre drilling program in the current quarter utilizing the drilling targets that have been identified with the mapping/sampling program that was completed earlier this year (see Press Releases dated June 21 and August 9, 2010)." More
- September 20, 2010 | Item | ShareThis


Gammon Gold Announces Initial Reserves at Three new Discoveries at its Ocampo Operation - :"Gammon Gold Inc. ("Gammon" or the "Company") (TSX:GAM.to - News) is pleased to report an initial 127,750 gold equivalent ounces(1) in Proven and Probable Reserves at three new discoveries made at Ocampo. These three new deposits have been discovered through the first phase drilling program during the first half of 2010." More
- September 20, 2010 | Item | ShareThis


Freeport-McMoRan Copper & Gold Inc. To Invest $500 Million in McMoRan Exploration Co. - "Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX - News) has agreed to purchase $500 million of 5 3/4% Convertible Perpetual Preferred Stock (“Preferred Stock”) of McMoRan Exploration Co. (NYSE: MMR - News) in connection with MMR’s proposed oil and gas property acquisition from Plains Exploration & Production Company (NYSE:PXP - News) (MMR’s press release dated September 20, 2010 is available at www.mcmoran.com). The Preferred Stock is convertible into MMR common stock at a conversion price of $16 per share. A group of institutional investors has also agreed to concurrently purchase $400 million in convertible securities, including a portion of the Preferred Stock, of MMR." More
- September 20, 2010 | Item | ShareThis


Apogee Intersects 6.0 Meters Grading 239.84 g/t Silver and 14.3 Meters Grading 122.69 g/t Silver at Pulacayo Deposit, Bolivia - "Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE - News) reports assay results from three additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia. All of the reported holes were drilled from surface." More
- September 20, 2010 | Item | ShareThis


Sky-high gold price greets mine cos in mile-high city - "Small wonder that gold mining executives are smiling these days.

At the annual Denver Gold Forum industry meeting this week, the talk among gold company executives and buy-side fund managers is likely to be less about rising mining costs than about just how high the price of the precious metal might go." More
- September 20, 2010 | Item | ShareThis


Kirkland Lake Gold-Queenston Joint Venture Report New Drill Results and Commences Accelerated Underground Exploration for the SMC - "Kirkland Lake Gold Inc. ("KL Gold") (TSX:KGI - News)(AIM: KGI) and Queenston Mining Inc. ("Queenston") (TSX:QMI - News)(Frankfurt:QMI - News)(STUTTGART:QMI - News) are pleased to announce the results from the recently completed drilling on the jointly held (50%-50%) South Claims and HM Claim Joint Venture properties within the South Mine Complex ("SMC") located south of KL Gold's Macassa Mine in Kirkland Lake, Ontario. Previous joint venture drilling results were reported in a news release dated November 24, 2009." More
- September 20, 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 20 September, 2010 | |


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