-- Posted 17 November, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1336.80 | -$1.50 |
Silver | $25.52 | +$0.15 |
XAU | 207.19 | +0.22% |
HUI | 533.54 | +0.71% |
GDM | 1599.41 | +0.60% |
JSE Gold | 2697.49 | -22.99 |
USD | 79.11 | -0.12 |
Euro | 135.18 | +0.25 |
Yen | 120.06 | +0.06 |
Oil | $80.44 | -$1.80 |
10-Year | 2.864% | +0.017 |
T-Bond | 127.0625 | -0.65625 |
Dow | 11007.88 | -0.14% |
Nasdaq | 2476.01 | +0.25% |
S&P | 1178.59 | +0.02% |
The Metals:
Gold fell as much as $7.40 to $1330.90 in Asia before it rose to see a $6.54 gain at $1344.84 in midmorning New York trade, but it then fell back off in the last few hours of trade and ended with a loss of 0.11%. Silver fell to $25.018 and climbed to $25.895 before it also fell back off, but it still ended with a gain of 0.59%.
Euro gold fell to about €988, platinum lost $3 to $1636.50, and copper remained at about $3.73.
Gold and silver equities rose about 2% in the first hour of trade before they fell back near unchanged by early afternoon, but they still ended with slight gains.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | Oct | 0.2% | 0.3% | 0.1% |
Core CPI | Oct | 0.0% | 0.1% | 0.0% |
Housing Starts | Oct | 519K | 600K | 588K |
Building Permits | Oct | 550K | 570K | 547K |
FDIC conducting 50 investigations at failed U.S. banks - WSJ Reuters
Mortgage Applications in U.S. Post Biggest Drop of 2010 Bloomberg
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 11/13 expected at 442,000 and at 10AM are Leading Economic Indicators for October expected at 0.6% and the Philadelphia Fed for November expected at 5.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil pared early losses after the Energy Information Administration reported that crude inventories fell 7.3 million barrels, gasoline inventories fell 2.7 million barrels, and distillates fell 1.1 million barrels, but it still ended lower on worries over a Chinese rate hike.
The U.S. dollar index fell slightly on poor housing data.
Treasuries fell as the Dow, Nasdaq, and S&P held steady on emerging support for Ireland from Britain and the EU.
Among the big names making news in the market today were GM and Target.
The Commentary:
“Welcome to the new face of trading in the 21rst century… the smaller investing public will be the ones who end up eventually getting a one way ticket to the door as they cannot hope to compete in this sort of arena unless they really and truly deeply understand the particular markets that they are trading.
One thing about these funds – they are generally clueless about the character and nature of the individual markets they trade and their mindless selling and buying creates opportunities for those who know their markets well enough to spot when this computer based selling or buying has pushed prices well beyond fair value and out of sync with the supply/demand picture for that particular commodity.
One has only to respect the hedge fund community for the enormous sums of money at the disposal of their trading machines and the severe price swings that can result from such sums being shoved into or yanked out of markets en masse. As far as respecting them for any intimate knowledge of the things that they trade – that is a joke. Most of them would not be able to tell you the difference between a wheat plant or a corn plant but they are in those markets jerking them all over the place on any given day.
For these people, it is all about chasing movement – nothing else matters.”- Dan Norcini, More at JSMineset.com
GATA Posts:
China said to consider gradual rise in gold reserves
Gene Arensberg's Got Gold Report for Nov. 14 posted in the clear
China eyes price controls to fight inflation
The Statistics:
Activity from: 11/15/2010
Gold Warehouse Stocks: | 11,313,800 | -161 |
Silver Warehouse Stocks: | 107,968,185 | +530,717 |
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$55,498m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.22 | 3,897,237 | US$5,218m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 130.72 | 4,202,910 | US$5,631m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,207 | US$611m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.01 | 1,640,147 | US$2,213m |
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: 105.90 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,773.56: +54.74 change from yesterday’s data.
The Miners:
IAMGOLD’s (IAG) Corporate Social Responsibility ("CSR") award, Claude’s (CGR) exploration results, Rubicon’s (RBY) drill results, Gold Fields’ (GFI) suspended operations, Sabina’s (SBB.V) drill results, Revett’s (RVM.TO) share consolidation, and Excellon’s (EXN.TO) assay results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. NovaGold | NG +6.90% $14.40 |
2. Gold Reserve | GRZ +6.76% $1.58 |
3. Rubicon | RBY +5.21% $4.04 |
LOSERS
1. Northgate | NXG -2.99% $2.92 |
2. Royal Gold | RGLD-0.92% $49.66 |
3. Solitario | XPL -0.89% $2.23 |
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:
Corvus Gold Inc. JV Partner Encounters High-Grade Gold Mineralization at the LMS Gold Project, Alaska; Highlights Include: 12 Metres of 3 g/t Gold - More
- November 17, 2010 | Item | ShareThis
Soil Sampling on Cresval's Bridge River Project Identifies Large Copper-Gold-Silver Anomaly - More
- November 17, 2010 | Item | ShareThis
T.B. Mining Ventures Inc. Enters into Letter of Intent to Acquire Kaskattama Inc. - More
- November 17, 2010 | Item | ShareThis
Platinex to Explore Prolific High Grade Gold Occurrences at Caswell Portion of Shining Tree Property - More
- November 17, 2010 | Item | ShareThis
Sherritt Announces Increase in Quarterly Dividend - More
- November 17, 2010 | Item | ShareThis
Kria Resources to Exhibit at San Francisco Hard Assets Investment Conference on November 21-22, 2010, Booth #615 - More
- November 17, 2010 | Item | ShareThis
Molycor Announces $400,000 Private Placement - More
- November 17, 2010 | Item | ShareThis
IAMGOLD Recognized for Its Corporate Social Responsibility - "IAMGOLD Corporation ("IAMGOLD" or the "Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) reports that at the November 16th gala dinner of the annual Corporate and Community Social Responsibility Conference (the "Conference") at Algonquin College in Ottawa (Ontario, Canada) IAMGOLD was awarded the Corporate Social Responsibility ("CSR") award." More
- November 17, 2010 | Item | ShareThis
Golden Phoenix Mineral Ridge Property Scheduled to Begin Gold Production in First Quarter 2011 - More
- November 17, 2010 | Item | ShareThis
Radius Gold arranges $3.5-million flow-through private placement - More
- November 17, 2010 | Item | ShareThis
Sabina Gold & Silver Extends Umwelt Strike Length to 650 Metres at Back River Project, Nunavut - "Sabina Gold & Silver Corp. (TSX:SBB - News) is pleased to announce further significant assay results from drilling completed in 2010 at its Umwelt discovery at the Goose property on its 100% owned Back River Project in Nunavut, Canada." More
- November 17, 2010 | Item | ShareThis
ATW Gold Corp.: Mutiny Gold Reports High-Grade Results from Drilling at Deflector Deposit on Its Joint Venture Gullewa Project - More
- November 17, 2010 | Item | ShareThis
Spectral Retains SRK Exploration for Geological Review - More
- November 17, 2010 | Item | ShareThis
NMC Resource Announces Share Consolidation and Grant of Stock Options - More
- November 17, 2010 | Item | ShareThis
Gold Bag Signs Agreement to Acquire High Grade Gold Mine in Mexico - More
- November 17, 2010 | Item | ShareThis
Channel Resources Reports on Interim Results From Fox Creek Lithium/Potash Brine Project Process Testing Program - More
- November 17, 2010 | Item | ShareThis
Arctic Star Options Multiple Claim Blocks in the Carbo Rare Earth Element Area of British Columbia - More
- November 17, 2010 | Item | ShareThis
Currie Rose Reaches Halfway Mark in Phase 1 Drilling at Sisu River Gold Property Exploration Plans Outlined for Sekenke Gold Project - More
- November 17, 2010 | Item | ShareThis
Galahad Energizes Exploration Efforts for Rare Earths at Kellyn Claims, NW Ontario - More
- November 17, 2010 | Item | ShareThis
Revett Announces Share Consolidation as it seeks Stock Exchange listing in the USA - "Revett Minerals Inc. (RVM:TSX/RVMIF:OTCBB) ("Revett" or the "Company") is pleased to announce the Company's share consolidation (reverse stock split) of common shares on a one for five basis. The consolidation will be effective for trading purposes on November 19, 2010." More
- November 17, 2010 | Item | ShareThis
White Tiger's Drilling Extends RM Zone Copper, Silver, Gold Discovery 125 Metres Along Strike - More
- November 17, 2010 | Item | ShareThis
Glen Eagle Intersects 1.05% Li2O Over 22.95 Meters - More
- November 17, 2010 | Item | ShareThis
Denarii Resources Inc. Announces British Guyana Gold Property Negotiations - More
- November 17, 2010 | Item | ShareThis
Malaga Announces Changes in Senior Management as it Prepares to Expand Its Mining Activities in Peru - More
- November 17, 2010 | Item | ShareThis
White Canyon Appoints Mike Bynum as Chief Executive Officer - More
- November 17, 2010 | Item | ShareThis
Ventana Acknowledges Unsolicited Bid - More
- November 17, 2010 | Item | ShareThis
Energizer Confirms Up to 82% Vanadium Extraction; Green Giant Deposit Will Play Key Role in New Battery Power and Storage Market - More
- November 17, 2010 | Item | ShareThis
Goldrush Intersects 3.10 g/t Gold Over 34 Metres at Ronguen Gold Deposit, Burkina Faso - More
- November 17, 2010 | Item | ShareThis
Inspiration Announces Planned Work Program at Its 600 Acre Dry Fork, Utah Gold and Copper Property - More
- November 17, 2010 | Item | ShareThis
NMC Resource Corporation: Deep Exploration Drilling Intersects Molybdenite Zones at NMC Moland Mine - More
- November 17, 2010 | Item | ShareThis
Uranium North Identifies New High Gold and Silver Project within the Aura Permits - More
- November 17, 2010 | Item | ShareThis
Metanor Resources Inc. Announces the Second Closing of a Non-Brokered Private Placement - More
- November 17, 2010 | Item | ShareThis
Yale Options out the Orofino Gold/Silver Property - More
- November 17, 2010 | Item | ShareThis
Colorado Resources Ltd.: Heart Peaks Acquisition - More
- November 17, 2010 | Item | ShareThis
Viper Gold Ltd. Announces Financing - More
- November 17, 2010 | Item | ShareThis
Corex Gold Drills 89.23 m of 1.16 g/t Au Including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t at Santana, Sonora State, Mexico - More
- November 17, 2010 | Item | ShareThis
Silvore Fox Minerals Corp.: Announces Signing of Strategic Agreement With Beijing Donia Resources at the China International Mining Conference, 2010 - More
- November 17, 2010 | Item | ShareThis
Batero Gold Appoints Mr. James Hutton to the Board of Directors - More
- November 17, 2010 | Item | ShareThis
Minera IRL Limited-Director Dealings - More
- November 17, 2010 | Item | ShareThis
MONETA REPORTS NEW SOUTHWEST ZONE RESULTS: 5.61 G/T OVER 23.89M INCLUDING 7.42 G/T OVER 16.58M - More
- November 17, 2010 | Item | ShareThis
Gold Finder Announces Start of Drilling Program - More
- November 17, 2010 | Item | ShareThis
Soltera Mining Corp. Announces Gold Test Work Program at their El Torno Gold Property in Jujuy, Argentina - More
- November 17, 2010 | Item | ShareThis
Ironwood Gold Corp. Analyst Coverage Updated by Noted European Research Firm - More
- November 17, 2010 | Item | ShareThis
Merrex Gold Inc.: Acquisition of Jubilee Zinc Project 50% Interest - More
- November 17, 2010 | Item | ShareThis
Colombian Mines Sampling Expands Width of Surface Mineralized Zone 10-Fold at El Dovio, Including 32.7 Meters Averaging 4.45 g/t Gold, 19.2 g/t Silver - More
- November 17, 2010 | Item | ShareThis
Frontline Gold Corp.: TSX Approves Disposition of Jubilee Zinc Lead Project - More
- November 17, 2010 | Item | ShareThis
Premium Exploration and Velocity Minerals Clarify Claim Staking in Idaho, USA - More
- November 17, 2010 | Item | ShareThis
Velocity Minerals Ltd. and Premium Exploration Inc.-Clarify Claims Positions in Idaho, USA - More
- November 17, 2010 | Item | ShareThis
Solitaire Minerals Corp. Options its Uranium Properties Adjoining Denison's Phoenix High-Grade Uranium Discovery, Athabasca Basin - More
- November 17, 2010 | Item | ShareThis
Klondike Silver Corp Commences Drilling on IP Anomalies on Hewitt Property in Slocan Silver Camp - More
- November 17, 2010 | Item | ShareThis
Dawson Gold Signs Letter of Intent on the Orofino Gold/Silver Property - More
- November 17, 2010 | Item | ShareThis
International Montoro Resources Inc.: Electric Metals Receives Complete Airborne Survey Results on Chuchinka Ree Property - More
- November 17, 2010 | Item | ShareThis
Kalahari Resources Intersects 22.79 g/t Gold Over 2.85 Meters at Lamaque Project in Val d'Or, Quebec - More
- November 17, 2010 | Item | ShareThis
Excellon Announces Additional High-Grade Holes in the Pierna Manto - "Excellon Resources Inc. (TSX:EXN - News) is pleased to announce assay results for two additional holes from what company geologists believe may be a new, high-grade manto discovered between the Rodilla and NE-1 mantos. Tentatively named the Pierna Manto, this massive sulphide zone is related to a northwest-southeast trending structure and is open to the northwest. Hole LP875 intersected 6.10 metres (m) of massive sulphides grading 1,489g/t (43 oz/T) Ag, 10.65% Pb, 21.63% Zn. Hole LP876 intersected 7.60 m grading 612 g/t (18 oz/T) Ag, 8.07% Pb, 14.47% Zn. Three holes in the same zone and with similar high grades were disclosed in a press release dated November 4, 2010." More
- November 17, 2010 | Item | ShareThis
Claude Resources Inc. Intercepts 39.43 Grams of Gold (cut) per Tonne Over 2.6 Metres True Width at Seabee Gold Mine - "Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) ("Claude" or the "Company") today reported new exploration results from the July, August and September drilling programs at its 100 percent owned and operated Seabee Gold Mine." More
- November 17, 2010 | Item | ShareThis
Canadian Orebodies Annouces Increase to Non-Brokered Private Placement - More
- November 17, 2010 | Item | ShareThis
Terra Acquires Option on Uranium Property Adjoining Denison's Wheeler River Property - More
- November 17, 2010 | Item | ShareThis
Bullion Monarch Mining Participating in Investment Conferences - More
- November 17, 2010 | Item | ShareThis
Southern Arc Minerals Inc.: Progress Update on West Lombok IUP - More
- November 17, 2010 | Item | ShareThis
Gold Canyon Continues to Expand the Portage Zone at Springpole-Hole SP10-022 Intercepts 223 Meters at 1.45 Grams Per Tonne Gold - More
- November 17, 2010 | Item | ShareThis
Yorbeau to Commission NI 43-101 Resource Calculation for Augmitto Deposit - More
- November 17, 2010 | Item | ShareThis
Rare Earth Metals Reports 1.11%, 1.32% and 1.18% TREO Over 81.1, 88.5 and 73 Meters Respectively From Additional Holes Drilled on Its Red Wine Property - More
- November 17, 2010 | Item | ShareThis
Barkerville Receives Drill Permits for Exploration on Barkerville Mountain - More
- November 17, 2010 | Item | ShareThis
Copper Mountain Project Continues on Track - More
- November 17, 2010 | Item | ShareThis
Douglas Lake Provides Update on Its Handeni Gold Project - More
- November 17, 2010 | Item | ShareThis
Uranium Energy Corp Begins Production at Palangana ISR Project - More
- November 17, 2010 | Item | ShareThis
Alix Contracts Norwest Corporation to Update Resource Model and 43-101 Resource Estimate on the Golden Zone Mine Property, Alaska - More
- November 17, 2010 | Item | ShareThis
Renaissance Gold Inc.: Leonid & Gypsum Valley Project Agreements Executed - More
- November 17, 2010 | Item | ShareThis
Nevada Copper Announces Investment by Pala, Exercise of Warrants and Appointment of Director - More
- November 17, 2010 | Item | ShareThis
Trevali Commits to 10,000-Metre Exploration and Definition Drill Program on Santander Zinc-Lead-Silver Mine Project in Peru - More
- November 17, 2010 | Item | ShareThis
Redstar Regains 100% Interest in Newman Todd Project, Red Lake, Ontario - More
- November 17, 2010 | Item | ShareThis
Castillian Identifies New Hangingwall Zone at Hope Brook, Newfoundland Intersecting 5.43 g Au/t Over 10.7 Metres - More
- November 17, 2010 | Item | ShareThis
Capstone Reports Additional High Grade Copper-Zinc Intercepts From Kutcho Project - More
- November 17, 2010 | Item | ShareThis
Rodinia Lithium Inc. Contracts AMEC to Provide Independent Resource Estimate for Diablillos Project - More
- November 17, 2010 | Item | ShareThis
INV Metals Initiates Drilling at the Rio Novo Au-Pt-Pd Property, Brazil - More
- November 17, 2010 | Item | ShareThis
Bellhaven Drills Gold-Copper Zone Starting at Surface at the Middle Zone, La Mina Porphyry Gold-(Copper) Project, Colombia - More
- November 17, 2010 | Item | ShareThis
Sama Resources Intersects Additional Massive Mineralization and Discovers a New Mineralized Sector at Its Samapleu Project in Cote d'Ivoire, Africa - More
- November 17, 2010 | Item | ShareThis
Alder Receives IP Survey Results and Provides Drill Update - More
- November 17, 2010 | Item | ShareThis
Fjordland Exploration Inc.: Drilling at Woodjam South Intersects 244 m Grading 0.50% Copper, 0.04g/t Gold and 0.015% Molybdenum - More
- November 17, 2010 | Item | ShareThis
CanAlaska Briefs Shareholders on 2010-2011 Corporate Developments - More
- November 17, 2010 | Item | ShareThis
Medusa Mining Limited: Results of Annual General Meeting - More
- November 17, 2010 | Item | ShareThis
Royal Gold Increases Common Stock Dividend 22% to $0.44 Per Share - "Royal Gold, Inc. (NASDAQ:RGLD - News) (TSX:RGL.to - News), today announced that its Board of Directors increased the Company’s annual dividend for its shares of common stock from $0.36 to $0.44, payable on a quarterly basis of $0.11 per share. Royal Gold has steadily increased its annual dividend since 2001." More
- November 17, 2010 | Item | ShareThis
Rubicon Minerals Announces Initial Delineation Drill Results From the F2 Core Zone within the F2 Gold System, Red Lake, Ontario - "Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) is pleased to provide an update on its underground delineation drill program being carried out on part of the F2 Core Zone, part of the F2 Gold System at its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. The results below pertain to the initial 4,277 metres of a 27,000 metre delineation drill program. In addition, Rubicon is carrying out approximately 40,000 metres of exploration drilling in the larger F2 Gold System." More
- November 17, 2010 | Item | ShareThis
Gold Fields suspends operations at S.Africa shaft - "Gold Fields (GFIJ.J: Quote, Profile, Research, Stock Buzz) said it had suspended operations at its Driefontein No.1 shaft in South Africa after a miner died late on Tuesday in a fall of ground." More
- November 17, 2010 | Item | ShareThis
SAfrica's NUM: 2 miners killed in separate accidents - "South Africa's National Union of Mineworkers (NUM) said on Wednesday two miners died late on Tuesday in separate accidents at Gold Fields (GFIJ.J: Quote, Profile, Research, Stock Buzz) and Simmer and Jack (SIMJ.J: Quote, Profile, Research, Stock Buzz) mines." More
- November 17, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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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 17 November, 2010 | |
