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Gold Seeker Closing Report: Gold and Silver End With Modest Gains

By: Chris Mullen, Gold-Seeker.com


-- Posted 15 November, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1368.80

+$2.90

Silver

$26.06

+$0.06

XAU

212.84

-1.51%

HUI

545.24

-1.19%

GDM

1634.65

-1.44%

JSE Gold

2778.30

-31.48

USD

78.69

+0.60

Euro

135.74

-1.16

Yen

120.18

-1.14

Oil

$84.86

-$0.02

10-Year

2.911%

+0.155

T-Bond

126.21875

-1.71875

Dow

11201.97

+0.08%

Nasdaq

2513.83

-0.17%

S&P

1197.75

-0.12%

 
 

 

The Metals:

 

Gold climbed to $1371.98 in London and fell to $1359.28 in early New York trade before it rallied to a new session high of $1376.68 by early afternoon and then fell back off a bit in late trade, but it still ended with a gain of 0.21%.  Silver fell to $25.72 and rose to $26.458 before it also fell back off, but it still ended with a gain of 0.23%.  Both metals are falling in after hours access trade at the time of writing.

 

Euro gold rose to about €1005, platinum gained $1.50 to $1680, and copper gained a few cents to about $3.92.

 

Gold and silver equities waffled near unchanged and ended with about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Retail Sales

 

1.2%

0.7%

0.7%

Retail Sales ex-auto

Oct

0.4%

0.4%

0.5%

Empire Manufacturing Index

Nov

-11.14

11.7

15.73

Business Inventories

Sep

0.9%

0.9%

0.9%

 

Tomorrow at 8:30AM EST brings PPI for October expected at 0.8%.  Core PPI is expected at 0.1%.  At 9AM is the Net Long-Term TIC Flows report for September, at 9:15 are Industrial Production for October expected at 0.3% and Capacity Utilization expected at 74.9%, and at 10AM is the NAHB Market Housing Index for November expected at 15.0.

 

The Markets:

 

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

 

Oil remained near unchanged while the U.S. dollar index rose and treasuries fell on decent economic data that sent the Dow, Nasdaq, and S&P modestly higher for most of trade, but they then fell back off into the close and ended mixed and near unchanged.

 

Among the big names making news in the market today were Lowe’s, GM, Facebook, and Caterpillar and Bucyrus.

 

GATA Posts:

 

 

James Turk: Silver still bullish despite Friday's tape painting

No safe currencies anymore, just precious metals, Turk tells MMNews

Use gold as the measure of currencies, Jim Rickards tells CNBC

James Grant: How to make the dollar sound again

 

The Statistics:

Activity from: 11/12/2010

Gold Warehouse Stocks:

11,313,961

+2,104

Silver Warehouse Stocks:

107,435,489

-349,897

 

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

1290.855

41,502,280

US$56,786m

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

Gold Bullion Securities

121.43

3,904,143

US$5,366m

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

ETFS Physical Gold

130.88

4,207,931

US$5,783m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,217

US$624m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

49.56

1,593,366

US$2,212m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,966

US$7m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 105.45 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,718.82.05 - No change from yesterday’s data.

 

The Miners:

 

Timberline’s (TLR) drill results, Imperial’s (III.TO) third quarter results, Nevsun’s (NSU) drilling, Keegan’s (KGN) assay results, New gold’s (NGD) favorable court ruling, Fronteer’s (FRG) drill results, IAMGOLD’s (IAG) restarted mill, and Excellon’s (EXN.TO) third quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Seabridge

SA +2.71% $29.19

2.  Gold Reserve

GRZ +2.67% $1.54

3.  Rubicon

RBY +2.67% $3.84

 

LOSERS

1.  Mag Silver

MVG-6.10% $8.93

2.  Endeavour

EXK -5.07% $5.81

3.  Taseko

TGB -4.16% $4.38

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:

GETTY TO RAISE $600,000 - More
- November 15, 2010 | Item | ShareThis


Marathon PGM Corporation Shareholders Approve Arrangement with Stillwater Mining Company - More
- November 15, 2010 | Item | ShareThis


Sampling Update Provided by Sidon for its MEG Project in Tanzania - More
- November 15, 2010 | Item | ShareThis


Talmora Diamond Announces Equity Financing to Raise Up to $400,000 - More
- November 15, 2010 | Item | ShareThis


FORTUNE MINERALS RELEASES THIRD QUARTER 2010 RESULTS - More
- November 15, 2010 | Item | ShareThis


Amseco Appoints Paradox Public Relations-Grants Additional Options - More
- November 15, 2010 | Item | ShareThis


Excellon Reports Q3 Financial Results - "Excellon Resources Inc. (TSX:EXN - News) (the "Company" or "Excellon") reports a net loss of $2,132,610 after tax for the three months ended September 30, 2010. (For full details, please see the Company's Management Discussion & Analysis, which was filed on SEDAR, www.sedar.com, on November 15, 2010.)" More
- November 15, 2010 | Item | ShareThis


Sidon Provides Sampling Update for Its MEG Project in Tanzania - More
- November 15, 2010 | Item | ShareThis


Silvermex and Genco Announce November 16, 2010 Closing Date - More
- November 15, 2010 | Item | ShareThis


Raymond Threlkeld, President & CEO of Rainy River, to Appear on BNN - More
- November 15, 2010 | Item | ShareThis


Searchlight Minerals Corp. Announces Passing of Dr. Richard Hewlett - More
- November 15, 2010 | Item | ShareThis


Hellix Ventures Inc.: Margarita-New Work Program/Additional Claims Staked - More
- November 15, 2010 | Item | ShareThis


Champion Minerals Inc. Closes $625,000 Flow-Through Financing - More
- November 15, 2010 | Item | ShareThis


The Toronto Stock Exchange (TSX) Conditionally Approves Listing Of the Common Shares of Evolving Gold Corp. - More
- November 15, 2010 | Item | ShareThis


Dawson Gold 2010 Toro Program Review - More
- November 15, 2010 | Item | ShareThis


Canyon Copper Corporate Overview - More
- November 15, 2010 | Item | ShareThis


Solitaire Minerals Corp. Options a Portion of Its Windfall Lake Land Position Located in Quebec, Canada to Geo Minerals Ltd. - More
- November 15, 2010 | Item | ShareThis


High Grade Silver Mineralization Sampled at Condor's Chavin Property, Peru - More
- November 15, 2010 | Item | ShareThis


Geo Minerals Acquires Option for Windfall Property in Quebec Along Southwest Trend of Bonterra Resources - More
- November 15, 2010 | Item | ShareThis


Amseco Appoints Jean-Pierre Cloutier, P.Geo., as Director/Grants Additional Options - More
- November 15, 2010 | Item | ShareThis


Strait Gold's First Two Holes at Alicia Intersect 25 Metres of 1.26% Copper Plus 0.14 g/t Gold, 33 Metres of 1.27% Copper Plus 0.13 g/t Gold - More
- November 15, 2010 | Item | ShareThis


NQ Starts Exploration Work in the Lac Shortt Mine Area - More
- November 15, 2010 | Item | ShareThis


Rogue Resources Appoints CFO - More
- November 15, 2010 | Item | ShareThis


Diadem Increases Acreage and Updates African Transaction - More
- November 15, 2010 | Item | ShareThis


Concopper Enterprises Inc., Mirado Nickel Mines Limited, Brenbar Mines Limited: Amalgamation - More
- November 15, 2010 | Item | ShareThis


Norsemont Mining Provides Constancia Update - More
- November 15, 2010 | Item | ShareThis


Fancamp Closes Financing - More
- November 15, 2010 | Item | ShareThis


Panoro Commences Exploration at Cotabambas Copper-Gold Project in Peru - More
- November 15, 2010 | Item | ShareThis


Corex Identifies Two New Gold Zones at Santana Property - More
- November 15, 2010 | Item | ShareThis


Timberline Drills 100.6 Metres of 1.06 g/t Gold at Lookout Mountain - "We are very pleased with the progress and results at our Lookout Mountain Project on the South Eureka Property - particularly considering our very late start due to permitting requirements. Our on-site staff and contractors are to be commended for the rapid advancement of this project. All four holes for which assays have been received are infill drill holes targeting open zones of mineralization or aiming to better define high grade mineralization. The assay results are consistent with our projections, and we are especially pleased with the results from hole BHSE-035 which indicates a broader zone of better grade gold with exceptional metallurgy. Furthermore, all drilling and assay results to date support the geologic model for our resource estimate, including the sulfide intervals that establish continuity of the higher-grade sulfide mineralization." More
- November 15, 2010 | Item | ShareThis


ANATOLIA CLOSES $25 MILLION CREDIT FACILITY - More
- November 15, 2010 | Item | ShareThis


Colorado Resources Ltd.: Hit Property Update - More
- November 15, 2010 | Item | ShareThis


Augen Gold Announces Listing of Unique Flow-Through Warrants - More
- November 15, 2010 | Item | ShareThis


Nanika Receives Indi Property Drill Permit - More
- November 15, 2010 | Item | ShareThis


Gold Bullion Granada Metallurgical Tests Show Recoveries in Excess of 93% - More
- November 15, 2010 | Item | ShareThis


High River Gold Reports Third Quarter 2010 Results - More
- November 15, 2010 | Item | ShareThis


Dynacor Gold Mines Generates $1.3 million in Cash Flow from Operations in Q3-2010 - More
- November 15, 2010 | Item | ShareThis


Taku Gold Corp. Increases Private Placement Up to $7,000,000 - More
- November 15, 2010 | Item | ShareThis


Alto Retains Falcon Point Capital Partners as Investor Relations Consultant - More
- November 15, 2010 | Item | ShareThis


Forum Retains Falcon Point Capital Partners as Investor Relations Consultant - More
- November 15, 2010 | Item | ShareThis


High River Gold Announces Intention to Continue to Yukon - More
- November 15, 2010 | Item | ShareThis


Kings Minerals NL: Mt. Philp Iron Prospect-Exploration Update - More
- November 15, 2010 | Item | ShareThis


AQM Copper Inc. Intercepts 184m of 0.53% Cu and 0.07 g/t Au - More
- November 15, 2010 | Item | ShareThis


Nuinsco Updates Olympian Status, Activities at Other Projects - More
- November 15, 2010 | Item | ShareThis


Ironwood Gold Signs LOI to Acquire Prospective Gold Property at Cherry Creek, Nevada - More
- November 15, 2010 | Item | ShareThis


B2Gold Corp. Announces Positive Exploration Results at the Cebollati Gold Property, Uruguay and Trebol Project, Nicaragua - More
- November 15, 2010 | Item | ShareThis


Teryl Resources Receives Progress Report for Ore Reserve Estimation, on the Gil Joint Venture Gold Property, Fairbanks, Alaska - More
- November 15, 2010 | Item | ShareThis


AuRo Provides Pre-Drill Campaign Progress Update - More
- November 15, 2010 | Item | ShareThis


Marifil Sells El Carmen Oil & Gas Property - More
- November 15, 2010 | Item | ShareThis


Atna Resources Reports Third Quarter 2010 Results and Update of Operations - More
- November 15, 2010 | Item | ShareThis


Empire Mining Corporation: Drilling Commences to Test Newly Identified Copper-Moly-Gold Target at Bursa Project, Turkey - More
- November 15, 2010 | Item | ShareThis


Belmont Options Up to 60% Interest in Lumby/Bufo Gold Property in Atikokan, Ontario to Dorex Minerals Inc. - More
- November 15, 2010 | Item | ShareThis


Philippine Metals Inc. Joins OTCQX - More
- November 15, 2010 | Item | ShareThis


B2Gold Trenches 3.3g/t Au over 33.3m at Trebol, northeast Nicaragua - More
- November 15, 2010 | Item | ShareThis


Selwyn Resources Grants Stock Options - More
- November 15, 2010 | Item | ShareThis


Argonaut Gold Reports Q3 2010 Financial Results - More
- November 15, 2010 | Item | ShareThis


EUROPEAN UNION REAFFIRMS NEED FOR SECURE RARE EARTH ELEMENT SUPPLY - More
- November 15, 2010 | Item | ShareThis


Eastern Platinum Reports Results for the Three Months Ended September 30, 2010 - More
- November 15, 2010 | Item | ShareThis


Southern Andes Energy Inc.'s New Uranium Discovery at Accocucho Sur, Peru - More
- November 15, 2010 | Item | ShareThis


Robex Resources Inc.: Nampala, Awarding of Contract for Feasibility Study - More
- November 15, 2010 | Item | ShareThis


Peregrine Announces Diamond Results for the NQN-001 Kimberlite at Nanuq North - More
- November 15, 2010 | Item | ShareThis


Indicator Minerals Announces Diamond Results From NQN-001 Kimberlite - More
- November 15, 2010 | Item | ShareThis


Midlands Announces Key Executive Appointments - More
- November 15, 2010 | Item | ShareThis


Barkerville Announces $5 Million Private Placement - More
- November 15, 2010 | Item | ShareThis


General Moly Updates Mt. Hope Project's Permitting Progress - More
- November 15, 2010 | Item | ShareThis


Mercator Reports Profitable Third Quarter and October Production - More
- November 15, 2010 | Item | ShareThis


Mercer Gold to Extend Third Hole Depth at Guayabales Gold Project, Colombia - More
- November 15, 2010 | Item | ShareThis


Harmony Plans Drill Program On the Caribou Project - More
- November 15, 2010 | Item | ShareThis


INV Metals Reports Q3/2010 Results - More
- November 15, 2010 | Item | ShareThis


WESDOME REPORTS Q3 FINANCIAL RESULTS - More
- November 15, 2010 | Item | ShareThis


U.S. Antimony Reports Strongest Quarter in History - More
- November 15, 2010 | Item | ShareThis


TVI Pacific Provides Third Quarter Financial and Operational Results - More
- November 15, 2010 | Item | ShareThis


Northern Gold Adds a Second Diamond Drill at Garrcon Deposit - More
- November 15, 2010 | Item | ShareThis


Minera IRL Announces Quarterly Report for Period Ended 30 September 2010 - More
- November 15, 2010 | Item | ShareThis


Bard Ventures Ltd.: Acquisition of Little Bear Lake Gold Property, Thunder Bay Mining Division, ON - More
- November 15, 2010 | Item | ShareThis


Pitchstone Announces Flow-Through Private Placement - More
- November 15, 2010 | Item | ShareThis


Advanced Explorations Provides Notice to Exercise Option on Alaska Iron Sands Project - More
- November 15, 2010 | Item | ShareThis


Malaga Generates a Postive Income From Mining Activities for a Third Consecutive Quarter - More
- November 15, 2010 | Item | ShareThis


LIM Second Quarter and Half Year Results Update on Project Construction and Development - More
- November 15, 2010 | Item | ShareThis


Goldrea Resources Corp.: New Zone Encountered at Level Three From Golden Rose Shaft - More
- November 15, 2010 | Item | ShareThis


Uranium One Announces Record Sales of 1.7 Million Pounds and Lower Cash Costs - More
- November 15, 2010 | Item | ShareThis


Talison Lithium Reports Financial Results for the 2011 First Quarter Ended September 30, 2010 - More
- November 15, 2010 | Item | ShareThis


Significant Multi-Element Soil Anomaly Identified on Bolero's "White Gold District" Yukon Prospect - More
- November 15, 2010 | Item | ShareThis


Quantum Rare Earth Developments Poised To Benefit From Global Demand for Niobium - More
- November 15, 2010 | Item | ShareThis


First Uranium announces financial results for the three and six months ended September 30, 2010 - More
- November 15, 2010 | Item | ShareThis


Imperial Reports 2010 Third Quarter Financial Results - "Revenues were $68.7 million in the September 2010 quarter compared to $53.8 million in the 2009 quarter. There were two concentrate shipments from each of Mount Polley and Huckleberry in the 2010 and 2009 quarters. The copper price increased during the September 2010 quarter resulting in a positive revenue adjustment of $8.8 million, while increasing prices during the 2009 quarter resulted in a positive adjustment of $5.8 million." More
- November 15, 2010 | Item | ShareThis


Nevsun Commences Resource Expansion Drilling - "Nevsun Resources Ltd. (TSX:NSU - News)(AMEX:NSU - News) is pleased to announce the commencement of its Resource Expansion Drill Program announced in mid September. Drilling will test the extent of mineralization in the hanging wall copper zone, which is immediately west and adjacent to the Bisha Main deposit. The program will also include infill drilling at Harena, which lies 9km SW of the Bisha Main deposit. With favorable results, both areas could add significant tonnage to the Company's reserve, extending mine life and cash flow." More
- November 15, 2010 | Item | ShareThis


Keegan Continues to Encounter Significant Gold in Step Out Drilling Programs at Esaase - "Keegan Resources Inc. (TSX:KGN - News)(AMEX:KGN - News) ("Keegan") is pleased to announce the latest assay results from its Esaase Project drilling program in southwest Ghana. Keegan has encountered significant gold intercepts (greater than 10 g/t meter grade) in four different areas, 1) down dip extensions of the current resource (KEDD872, 33.2 m @ 2.31 g/t Au and KEDD878, 176.9 m @ 1.2 g/t Au), 2) the D-1 Abuabo zone (KERC885, 32 m @ 1.66 g/t Au) 3), a step out hole on the of the D structure 2 km south of existing mineralization (KERC890, 6 meters of 11.42 g/t Au and 4) a newly discovered structure located between the D structure and the main zone (KERC 897, 11 meters of 1.44 g/t Au)." More
- November 15, 2010 | Item | ShareThis


Collegiate Appeals Court Rules in Favour of New Gold in Relation to Cerro San Pedro Environmental Impact Statement - "New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces that a Collegiate Appeals Court in Mexico City has ruled in favour of the company's position in its latest appeal against the September 2009 nullification of the Cerro San Pedro Mine's Environmental Impact Statement ("EIS"). The court has advised that the decision is positive but has not yet provided the full written decision thus New Gold is not presently aware of what the Collegiate Appeals Court has deemed to be the appropriate next steps in the resolution of the case. New Gold expects to receive the detailed full decision in the coming weeks." More
- November 15, 2010 | Item | ShareThis


Fronteer Intersects 12.30 g/t Gold Over 50.4 Metres at Long Canyon Gold Project, Nevada - "Fronteer Gold (TSX:FRG - News)(AMEX:FRG - News) reports that ongoing drilling has returned the best intercept to date at its wholly owned Long Canyon gold deposit in Nevada. Mineralization at Long Canyon continues to be 100% oxidized and remains open in all directions." More
- November 15, 2010 | Item | ShareThis


IAMGOLD Restarts Essakane Mine Sag Mill - "IAMGOLD Corporation ("IAMGOLD" or the "Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) today reported that during this past weekend the maintenance team has restarted the semi-autogenous grinding ("SAG") mill at the Company's Essakane Mine in Burkina Faso." More
- November 15, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© 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 15 November, 2010 | |


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