-- Posted 2 December, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1388.50 | +$1.70 |
Silver | $28.58 | +$0.33 |
XAU | 220.83 | +1.55% |
HUI | 564.53 | +1.34% |
GDM | 1687.15 | +1.41% |
JSE Gold | 2720.44 | +59.58 |
USD | 80.19 | -0.48 |
Euro | 132.27 | +0.90 |
Yen | 119.23 | +0.44 |
Oil | $88.00 | +$1.25 |
10-Year | 3.000% | +0.036 |
T-Bond | 126.03125 | -0.28125 |
Dow | 11362.41 | +0.95% |
Nasdaq | 2579.35 | +1.17% |
S&P | 1221.53 | +1.28% |
The Metals:
Gold rose to as high as $1394.79 in Asia before it fell to see a $2.70 loss at $1384.10 at about 9AM EST and then spiked back higher in New York to as high as $1398.44 by early afternoon, but it then fell back off in late trade and ended with a gain of just 0.12%. Silver erased over 1% gains seen in Asia and fell to as low as $28.283 in early New York trade before it also rallied back higher and rose almost 3% to as high as $29.014 by early afternoon, but it then fell back off in late trade and ended with a gain of just 1.17%.
Euro gold fell to about €1052, platinum gained $32.25 to $1707.25, and copper gained another few cents to about $3.98.
Gold and silver equities rose over 2% by midday before they fell back off a bit, but they still ended with over 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 11/27 | 436K | 422K | 410K |
Pending Home Sales | Oct | 10.4% | 0.0% | -1.8% |
Tomorrow at 8:30AM EST brings November’s jobs data. Nonfarm Payrolls are expected at 130,000, the Unemployment Rate is expected at 9.6%, Hourly Earnings are expected at 0.1%, and the Average Workweek is expected at 34.3. At 10AM are ISM Services for November expected at 54.5 and Factory Orders for October expected at -1.3%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as the U.S. dollar index fell on easing worries over European debt problems. The European Central Bank did not extend their bond buying, but “ECB head Jean-Claude Trichet announced the bank will prolong special measures that provide ready cash to banks and steady the financial system.”
Treasuries fell as the Dow, Nasdaq, and S&P rose on better than expected housing data and retail sales reports.
Among the big names making news in the market today were Toll Brothers, PepsiCo, and Bank of America.
GATA Posts:
Lots of fake gold shows up in Hong Kong
China's gold imports soar almost fivefold, fueled by inflation
Max Keiser: Want JPMorgan to crash? Buy silver
Jeff Nielson: 'Shock and awe' in precious metals
Fed loaned hundreds of billions to foreign banks and companies
James Turk: The precious metals power higher
Bundesbank joins Fed in demanding secrecy for gold swaps
The Statistics:
Activity from: 12/1/2010
Gold Warehouse Stocks: | 11,488,397 | +35,925 |
Silver Warehouse Stocks: | 107,393,146 | -599,879 |
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 | 1293.891 | 41,599,902 | US$57,762m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.86 | 3,917,885 | US$5,474m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 132.87 | 4,271,842 | US$5,965m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,131 | US$633m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.01 | 1,639,877 | US$2,272m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,965 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 7.288 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 107.39: 0.36 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,782.69: +54.73 change from yesterday’s data.
The Miners:
Timberline’s (TLR) financial results, Fronteer’s (FRG) drill results, Allied Nevada’s (ANV) test results, and Alexco’s (AXU) off-take agreements were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Minco Gold | MGH+12.23% $2.11 |
2. Exeter | XRA +7.03% $5.94 |
3. Banro | BAA +6.01% $3.00 |
LOSERS
1. Mines MGMT | MGN-9.29% $2.83 |
2. ITH | THM -3.48% $9.44 |
3. Timberline | TLR -3.39% $1.14 |
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:
San Gold Extends 007 Zone Eastward by 200 Meters with High Grade Intercept of 415 g/tonne over 3.4 meters - More
- December 02, 2010 | Item | ShareThis
Acadian Mining Corporation Announces Settlement Agreement with Equipment Supplier - More
- December 02, 2010 | Item | ShareThis
Mr. Todd C. Hennis Joins the International Advisory Board of Colt Resources Inc. - More
- December 02, 2010 | Item | ShareThis
Arco Grants Stock Options - More
- December 02, 2010 | Item | ShareThis
Black Hawk Submits 349 Ore Samples to ALS for Gold and Silver Analysis - More
- December 02, 2010 | Item | ShareThis
Golden Tag Completes $3 Million Financing - More
- December 02, 2010 | Item | ShareThis
Sona Resources Corp.: No. 9 Vein Surface Sampling Averages 56.9g Au/t - More
- December 02, 2010 | Item | ShareThis
Seafield Drills 449 Metres Grading 1.29 g/t Gold at Miraflores, Quinchia Gold Project, Colombia - More
- December 02, 2010 | Item | ShareThis
Stronghold Announces Over Subscription of Non-Brokered Private Placement - More
- December 02, 2010 | Item | ShareThis
Prophecy Retracts Certain Disclosure for Lynn Lake Nickel Project, Lynn Lake, Manitoba - More
- December 02, 2010 | Item | ShareThis
MetalCORP Completes First Round of Drilling at Gouda Lake Zone on Hemlo East Property, and Releases Final Drill Results - More
- December 02, 2010 | Item | ShareThis
Matamec Begins Third Drilling Campaign on the Heavy Rare Earths-Yttrium-Zirconium Kipawa Deposit - More
- December 02, 2010 | Item | ShareThis
Galahad Metals Inc.: Stock Option Grant - More
- December 02, 2010 | Item | ShareThis
Cameco Significantly Increases Dividend for 2011 - More
- December 02, 2010 | Item | ShareThis
Kent Exploration Inc.: 2nd Phase Gnaweeda Gold Project Diamond Drilling Program Commences - More
- December 02, 2010 | Item | ShareThis
Avrupa Minerals Announces Shares for Debt Agreement - More
- December 02, 2010 | Item | ShareThis
Fission Energy Corp. Completes $13 Million Bought Deal Private Placement - More
- December 02, 2010 | Item | ShareThis
Galahad Completes Initial Drilling on Regcourt Property - More
- December 02, 2010 | Item | ShareThis
Rio Alto Completes Final Tranche of Private Placement for C$0.9 Million for Total Proceeds of $20.27 Million - More
- December 02, 2010 | Item | ShareThis
Auriga Gold Provides Update on Property Acquisitions, Recent Private Placement and Stock Option Grants - More
- December 02, 2010 | Item | ShareThis
Los Andes Copper Ltd. Announces Final Option Payment and Property Acquisition - More
- December 02, 2010 | Item | ShareThis
Cangold Amends Warrant Terms - More
- December 02, 2010 | Item | ShareThis
PHI Group Subsidiary Acquires Producing Canadian Gold Mine - More
- December 02, 2010 | Item | ShareThis
Inmet Mining Presentation at 2010 Desjardins Securities Basic Materials Conference - More
- December 02, 2010 | Item | ShareThis
Supatcha Resources to Host Investor Conference Call on Monday, December 20, 2010 - More
- December 02, 2010 | Item | ShareThis
Spartan Gold Limited Announces New Stock Symbol "SPAG" Effective at Open December 3, 2010 - More
- December 02, 2010 | Item | ShareThis
Northquest Ltd.: Pistol Bay Gold Project Acquired, Nunavut Territory - More
- December 02, 2010 | Item | ShareThis
Expedition and Aldrin Announce Results From 2010 Trenching Program and Additional Soil Sampling on Brew Property, White Gold District, Yukon - More
- December 02, 2010 | Item | ShareThis
Platinex Inc. Announces Flow-Through Offering and Working Capital Offering - More
- December 02, 2010 | Item | ShareThis
SEMAFO: Mana's Fofina Area Continues to Return High Grades - More
- December 02, 2010 | Item | ShareThis
Dia Bras Announces Consolidation of Outstanding Common Shares and Exercise of Warrants - More
- December 02, 2010 | Item | ShareThis
SHAREHOLDERS OF CONCOPPER ENTERPRISES INC., BRENBAR MINES LIMITED AND MIRADO NICKEL MINES LIMITED APPROVE AMALGAMATION. - More
- December 02, 2010 | Item | ShareThis
Sparton Signs Agreement for Evaluation of Vanadium Development Programs in Xiushui County Jiangxi Province, China - More
- December 02, 2010 | Item | ShareThis
RJK OPTIONS WEST BLACKWATER GOLD PROPERTY ON NECHAKO PLATEAU - More
- December 02, 2010 | Item | ShareThis
Newcastle Maintains 100% Interest in Carscallen Project - More
- December 02, 2010 | Item | ShareThis
Canaco Announces Significant Development in Property Dispute in Tanzania - More
- December 02, 2010 | Item | ShareThis
Messina Minerals Inc. Acquires New York Harbour Properties, Newfoundland - More
- December 02, 2010 | Item | ShareThis
Balaton Completes Airborne Geophysical Survey at Voisey's Bay West Property, Labrador - More
- December 02, 2010 | Item | ShareThis
Dalradian Intercepts 1.83 Metres of 37.41 g/t of Gold at Tyrone Project - More
- December 02, 2010 | Item | ShareThis
Canasil $1,200,000 Non-Brokered Private Placement - More
- December 02, 2010 | Item | ShareThis
REBgold Corporation and BacTech Environmental Corporation Complete Plan of Arrangement - More
- December 02, 2010 | Item | ShareThis
Copper One Reports 1.54% Copper in Follow-up Sampling At The Riviere Dore Copper Nickel Property - More
- December 02, 2010 | Item | ShareThis
Sniper Commences Drilling on Guild Property - More
- December 02, 2010 | Item | ShareThis
Alexandria Intersects 2 High Grade Zones Below Akasaba Mine, Val d'Or, Quebec - More
- December 02, 2010 | Item | ShareThis
Diamond Discoveries Acquires Additional Mineral Claims With Gold Potential in Southern Quebec - More
- December 02, 2010 | Item | ShareThis
Uracan Continues to Discover Significant Uranium Mineralization in Drilling on Costebelle Claims - More
- December 02, 2010 | Item | ShareThis
Cartier Reports New Results up to 1.54% Copper and 0.14 g/t Pd on Riviere Dore Property - More
- December 02, 2010 | Item | ShareThis
Chantrell Ventures Announces Changes to Its Board - More
- December 02, 2010 | Item | ShareThis
Argonaut Gold Inc. Completes Resource Expansion Drill Program at El Castillo - More
- December 02, 2010 | Item | ShareThis
Lateegra Intersects Gold Mineralized Prophyry System in Timmins Camp - More
- December 02, 2010 | Item | ShareThis
American Manganese Inc. Enters Into Letter of Intent on Their Lonnie/Virgil Rare Earth and Rare Metal Property - More
- December 02, 2010 | Item | ShareThis
G4G Resources Initiates Work Program on Vancouver Island Porphyry-Copper-Gold Properties - More
- December 02, 2010 | Item | ShareThis
Baja Wins Exploration and Development Funding Award - More
- December 02, 2010 | Item | ShareThis
Frontline Gold Niaouleni Diamond Drilling Update - More
- December 02, 2010 | Item | ShareThis
ATW Gold Corp.: Deflector Returns 16 Metres Grading 15.3 g/t Gold and 6% Copper - More
- December 02, 2010 | Item | ShareThis
Ok Tedi to Repurchase Five Percent Net Smelter Royalty From Inmet Mining for US$335 Million - More
- December 02, 2010 | Item | ShareThis
Xmet Inc. to Complete Geophysical Surveys on Duquesne-Ottoman Property - More
- December 02, 2010 | Item | ShareThis
San Gold Extends 007 Zone Eastward by 200 Meters With High Grade Intercept of 415 g/tonne over 3.4 meters - More
- December 02, 2010 | Item | ShareThis
Talison Lithium Updates on Expansion of Greenbushes Lithium Operations - More
- December 02, 2010 | Item | ShareThis
Salazar Acquires Second Drill Rig to Accelerate Exploration Program - More
- December 02, 2010 | Item | ShareThis
Drilling Underway At South Lida - More
- December 02, 2010 | Item | ShareThis
Gryphon Gold Advances Critical Data Analysis - More
- December 02, 2010 | Item | ShareThis
East Asia Minerals Finds More Gold at Sipopok; Scout Drilling Planned to Commence Mid-December - More
- December 02, 2010 | Item | ShareThis
Kaminak Defines Additional Gold-In-Soil Trends on the Coffee Property - More
- December 02, 2010 | Item | ShareThis
BE Resources Receives Proceeds of Warrant Exercises - More
- December 02, 2010 | Item | ShareThis
Steele Resources, Inc. Enters an LOI to Expand the Mineral Hill Exploration Project - More
- December 02, 2010 | Item | ShareThis
Oteegee Innovations Closes Agreement to Acquire Quebec Lithium Property and Cancels Shares - More
- December 02, 2010 | Item | ShareThis
Silver Dragon to Commence Production at the Erbahuo Silver Mine, China - More
- December 02, 2010 | Item | ShareThis
Crocodile Gold Announces Significant Resource Increase at Mt. Bundy Project-Indicated Resource of 681,000 oz & Inferred Resource of 378,000 oz - More
- December 02, 2010 | Item | ShareThis
Rockcliff to Commence Unit Offerings and Closes on $1.5 Million of the Offering With the MineralFields Group - More
- December 02, 2010 | Item | ShareThis
AM Gold Announces Updated 1.32 Million Troy Ounce Gold Inferred Resource Estimate for Red Mountain Property - More
- December 02, 2010 | Item | ShareThis
Nevada Copper Announces Further High Grade Drill Results of 78.5 Feet of 3.17% Copper - More
- December 02, 2010 | Item | ShareThis
Tribute Minerals Announces Name Change and 5:1 Share Consolidation - More
- December 02, 2010 | Item | ShareThis
Kirrin Resources Announces $1.4 Million Flow-Through Private Placement - More
- December 02, 2010 | Item | ShareThis
Threegold Resources Inc.: Exploration Update/Fall 2010 - More
- December 02, 2010 | Item | ShareThis
Wallbridge Mining Continues to Intersect Platinum Palladium Gold on Frost Lake Property in Sudbury - More
- December 02, 2010 | Item | ShareThis
NEVADO New Assays Average 61.9% Iron, 16.5% Titanium and 0.11% Vanadium from 21 Channel Samples on the 450 Metres Long E. Girard Occurrence - More
- December 02, 2010 | Item | ShareThis
Duluth Metals Positioned for Growth With Pipeline of New Exploration Properties as Well as Nokomis Development - More
- December 02, 2010 | Item | ShareThis
Global Hunter Begins Surface Sampling Program at La Corona de Cobre & Broadens IR Program - More
- December 02, 2010 | Item | ShareThis
Li3 Energy, Inc. Signs Letter of Intent to Acquire an Additional 9% Interest in the Maricunga Lithium Project in Chile - More
- December 02, 2010 | Item | ShareThis
Sidon Has Drilling Permit, Moves Drill on Site for MEG Project in Tanzania - More
- December 02, 2010 | Item | ShareThis
Kalimantan Gold Signs Letter of Intent With Tigers Realm on Jelai - More
- December 02, 2010 | Item | ShareThis
Orosur Mining Inc Announces Continued Positive Drill Results from Follow up Drilling at the Vaca Muerta Project, Uruguay - More
- December 02, 2010 | Item | ShareThis
Timberline Announces 2010 Financial Results - "Timberline's contract drilling subsidiary, Timberline Drilling, Incorporated ("Timberline Drilling") reported revenues of $6.58 million and net income of $0.31 million for the fourth quarter. For the fiscal year ended September 30, 2010, Timberline Drilling reported revenues of $20.73 million and net income of $1.71 million. Timberline Drilling's annual performance improved dramatically over 2009, with a 57% increase in revenue and a $2.84 million improvement in net income. These results are primarily due to increased rig utilization and management's continued focus on enhancing customer service while effectively streamlining operations and managing costs." More
- December 02, 2010 | Item | ShareThis
Fronteer Gold: Open-Pit Testwork Returns 6.06 g/t Gold Over 16.92 Metres and 369.5 g/t Silver Over 3.05 Metres at Northumberland, Nevada - "Fronteer Gold (TSX:FRG - News)(AMEX:FRG - News) reports that core drilling adjacent to, and beneath, historic pits at the company's wholly owned Northumberland gold deposit has returned excellent grades over significant widths." More
- December 02, 2010 | Item | ShareThis
Allied Nevada: Additional Metallurgical Test Results Continue to Confirm Milling Recoveries of 87.3% for Gold and 82.2% for Silver - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV - News)(AMEX:ANV - News) is pleased to announce that is has received additional metallurgical test results from 24 composite samples for its Hycroft mine located near Winnemucca, Nevada. The Company has compiled these new results in its metallurgical model for milling oxide and sulfide mineralization. The model, which is comprised of 99 composites including these new results, indicates average recoveries of 87.3% for gold and 82.2% for silver through a grind-flotation (to create a concentrate)-cyanidation of tailings circuit." More
- December 02, 2010 | Item | ShareThis
Alexco Completes Off-Take Agreements With Glencore, Initiates Concentrate Shipments From Bellekeno Mine - "Alexco Resource Corp. (TSX:AXR - News)(AMEX:AXU - News) ("Alexco" or the "Company") is pleased to announce that it has entered into lead and zinc concentrate off-take agreements with Glencore Ltd., Stamford ("Glencore"), a branch of a wholly owned subsidiary of the Swiss-based international natural resources group Glencore International AG. The signing of these agreements with Glencore is coincident with the initiation of concentrate shipments from Alexco's newly commissioned Bellekeno silver-lead-zinc mine in the Keno Hill Silver District, Yukon." More
- December 02, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 2 December, 2010 | |
