-- Posted 7 December, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1408.30 | -$6.90 |
Silver | $29.74 | -$0.06 |
XAU | 225.18 | -1.56% |
HUI | 576.48 | -2.45% |
GDM | 1718.11 | -2.33% |
JSE Gold | 2784.65 | -25.06 |
USD | 79.94 | +0.31 |
Euro | 132.63 | -0.43 |
Yen | 119.77 | -1.15 |
Oil | $88.13 | -$1.25 |
10-Year | 3.165% | +0.224 |
T-Bond | 124.00 | -2.71875 |
Dow | 11359.16 | -0.03% |
Nasdaq | 2598.48 | +0.14% |
S&P | 1223.75 | +0.05% |
The Metals:
Gold climbed throughout most of trade in Asia and London and rose to a new record intraday high of $1430.90 by a little before 9AM EST, but it then fell back off for most of trade in New York and ended near its noontime low of $1402.44 with a loss of 0.49%. Silver climbed to a new 30-year high of $30.688 before it fell to as low as $29.55 in early afternoon trade, but it ended with a loss of just 0.2%.
Euro gold fell to under €1059, platinum lost $14 to $1697.25, and copper gained 4 cents to about $4.04.
Gold and silver equities reversed early gains and saw about 2% losses by midday before they bounced back higher in early afternoon trade, but they then fell back off in late trade and ended near their earlier lows.
The Economy:
Report | For | Reading | Expected | Previous |
Consumer Credit | Oct | $3.4B | -$2.5B | $1.2B |
Tax Deal Suggests New Path for Obama CNBC
Economists React: Pros and Cons of Tax Deal WSJ
Tax deal won't worsen long-term deficit: White House Reuters
Extension of U.S. Tax Cuts Will Prompt Congress to Discard Own Budget Law Bloomberg
Job Openings in U.S. Rise, Pointing to Bigger Payroll Increases Bloomberg
Tomorrow at 7AM EST brings MBA Mortgage Applications for 12/03.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell after the U.S. dollar index reversed early losses and ended higher as the Canadian Dollar fell on the Bank of Canada’s decision to keep rates unchanged and the yen fell on the proposed extension of U.S. tax cuts. The euro was mixed as traders kept an eye on Ireland’s budget and the possibility of spreading debt problems in Europe.
Treasuries extended notable losses after today’s $32 billion 3-year note auction sold at high yield 0.862% with a bid to cover of just 2.91.
The Dow, Nasdaq, and S&P rose in early trade on Obama’s tentative deal with Congressional Republicans to extend the Bush-era tax cuts, but all three indices fell back off in late trade and ended mixed on reports that the SEC is increasing efforts towards its insider trading probe.
Among the big names making news in the market today were Onyx, AGL Resources and Nicor, and Citigroup.
The Commentary:
“My Dear Friends,
Gold is clearly on its way to $1,650 and beyond. I have told you for many years that there was no PRACTICAL solution to the problems created by OTC derivative manufacturers and distributors namely our beloved “banksters.”
By practical I meant a solution that itself would not cause more dislocations than the problem to which it was applied already has. Now you see political realities both in taxation and quantitative easing.
Friends, there is no practical way out of this problem – none. We are going to inflate and spend as the entire Western world financial/political managers again try to kick the can further down the road.
No further proof is required.
Regards,”- Jim Sinclair, JSMineset.com
GATA Posts:
New large-format 'America the Beautiful' silver coins in demand
Murray Pollitt: Kaput for Europe
Cheviot's gold conference in London Jan. 27 will have big GATA component
Peter Brimelow: Is gold in a perfect (bullish) storm?
At YouTube, the 'Downfall' of gold and silver price suppression
$110 billion in new hundred-dollar bills are no good
The Statistics:
Activity from: 12/03/2010
Gold Warehouse Stocks: | 11,579,711 | +93,536 |
Silver Warehouse Stocks: | 107,093,323 | -22,567 |
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 | 1298.030 | 41,732,949 | US$59,256m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.49 | 3,905,979 | US$5,530m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 133.55 | 4,293,804 | US$6,079m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,105 | US$643m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.00 | 1,639,841 | US$2,302m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,965 | US$7m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 107.95 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,816.59: +40.01 change from yesterday’s data.
The Miners:
Kimber’s (KBX) offering terms, Gammon’s (GRS) operating performance, Brigus Gold’s (BRD) exploration program, Abcourt’s (ABI.V) drill results, Alexco’s (AXU) bought deal financing, Endeavour’s (EXK) JV invitation for Cream Minerals, and Oremex’s (ORM.V) exploration results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Ivanhoe | IVN +4.21% $29.20 |
2. Entree | EGI +3.76% $3.04 |
3. Northern Dynasty | NAK +2.22% $10.12 |
LOSERS
1. Kimber | KBX -18.52% $1.32 |
2. Alexco | AXU -10.68% $8.03 |
3. Mines MGMT | MGN -6.15% $3.36 |
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:
Amseco Starts Its Barry-Urban Exploration Program to Be Followed by Diamond Drilling Early 2011 - More
- December 07, 2010 | Item | ShareThis
Trevali Appoints Kallpa Securities SAB as Advisor for Senior Listing Application on Lima Stock Exchange - More
- December 07, 2010 | Item | ShareThis
Kilo Drilling Intersects 2.07 g/t Gold Over 58.80 Metres on the Adumbi Prospect, Somituri Project, DRC - More
- December 07, 2010 | Item | ShareThis
Canterra Acquires Ontario Gold Properties - More
- December 07, 2010 | Item | ShareThis
PHI Mining Group to Change Name to PHI Gold Corporation and Spin Off Business Unit - More
- December 07, 2010 | Item | ShareThis
JIMINEX INC. UPDATES ON HEMLO, ONTARIO DRILLING PROGRAM - More
- December 07, 2010 | Item | ShareThis
Rencore Resources Ltd. Announces $3.6 million Private Placement - More
- December 07, 2010 | Item | ShareThis
New Dimension Announces Flow-Through Financing - More
- December 07, 2010 | Item | ShareThis
Rio Alto Announces Senior Management Appointment - More
- December 07, 2010 | Item | ShareThis
Crazy Horse Resources Inc.: Taysan Project CZT001 Assays Confirm Historic Data and Presence of a Significant Porphyry Copper-Gold-Silver Deposit - More
- December 07, 2010 | Item | ShareThis
Red Mile Minerals Signs Option Agreement for 50 Percent of the Blue Quartz Property - More
- December 07, 2010 | Item | ShareThis
Gowest Finds Presence of Significant Parallel Gold-Bearing Structures at Its Frankfield East Gold Deposit Near Timmins, Ontario - More
- December 07, 2010 | Item | ShareThis
Supatcha Provides Update on NI 43-101 Technical Report - More
- December 07, 2010 | Item | ShareThis
Xmet Inc. Intersects 9.57 g/t Au over 4.30 metres at Duquesne-Ottoman - More
- December 07, 2010 | Item | ShareThis
Benton Receives $8.26 Million in Cash and Shares on Closing of Marathon Takeover Transaction - More
- December 07, 2010 | Item | ShareThis
Gee-Ten Ventures Announces Termination of a Letter of Intent, Appointment to the Board, Increase of Stock Option Plan and Grant of Options - More
- December 07, 2010 | Item | ShareThis
Riverstone Expands Footprint of Kao Deposit at Karma - More
- December 07, 2010 | Item | ShareThis
Razore Rock Completes NI 43-101 Report for Duff Claims Property - More
- December 07, 2010 | Item | ShareThis
Taku Samples up to 455.76 Grams Per Tonne Gold in Trenches at Portland Property, Yukon - More
- December 07, 2010 | Item | ShareThis
Avala Resources Extends Korkan Discovery With Wide-Spaced Diamond Drilling-Intersects 20 Meters at 2.63g/t and 38 Meters at 1.09g/t Gold - More
- December 07, 2010 | Item | ShareThis
Norsemont Mining Provides Constancia Project Update - More
- December 07, 2010 | Item | ShareThis
First Uranium Appointments - More
- December 07, 2010 | Item | ShareThis
Caza Gold Corp.: Sampling Extends High-Grade Cliff Zone Gold Veins at Santiago Project, Chihuahua, Mexico - More
- December 07, 2010 | Item | ShareThis
NSGOLD OPTIONS GOLD PROPERTIES - More
- December 07, 2010 | Item | ShareThis
Northland Applies for Environmental Permit for the Sahavaara Mine - More
- December 07, 2010 | Item | ShareThis
SLAM DRILLING MORE GOLD AT RESERVE CREEK - Visual Results Indicate Successful First Hole - More
- December 07, 2010 | Item | ShareThis
NioGold and Aurizon Report 20.44 G/T AU Over 3.2 Metres at Marban - More
- December 07, 2010 | Item | ShareThis
New Guinea Gold Corporation: Sinivit Production Update - More
- December 07, 2010 | Item | ShareThis
Golden Goliath Resources Ltd.: Agnico Eagle Agrees to Option/JV Agreement for the Las Bolas/Los Hilos Property - More
- December 07, 2010 | Item | ShareThis
Leo Dominguez & Tom Vaillancourt Join Philippine Metals' Operating Subsidiary Board - More
- December 07, 2010 | Item | ShareThis
Daulton Capital Establishing Gold Exploration in Region That Favors Investment and Rewards - More
- December 07, 2010 | Item | ShareThis
Ucore Rare Metals Inc. Joins U.S. OTCQX International - More
- December 07, 2010 | Item | ShareThis
Fancamp Announces $4,000,490 Brokered Financing - More
- December 07, 2010 | Item | ShareThis
North Atlantic Mobilizes Rig for Drill Program at the FT Project, Mali - More
- December 07, 2010 | Item | ShareThis
GEOMEGA RESOURCES INC. INITIATES 10,000 METERS DRILL PROGRAM AT MONTVIEL - More
- December 07, 2010 | Item | ShareThis
Evolving Gold Commences Trading on the Toronto Stock Exchange - More
- December 07, 2010 | Item | ShareThis
Aldrin Reports IND Project Claim Block Expansion - More
- December 07, 2010 | Item | ShareThis
Drilling Commences at Columbus Gold's Guild Project in Nevada - More
- December 07, 2010 | Item | ShareThis
Vantex Resumes Drilling on the Moriss Discovery (Galloway Project) - More
- December 07, 2010 | Item | ShareThis
Valdez Gold and Ryan Gold Announce Completion of Second Financing - More
- December 07, 2010 | Item | ShareThis
Colibri signs Letter of Intent with Agnico-Eagle Mines Ltd. to form joint venture - More
- December 07, 2010 | Item | ShareThis
Kings Minerals Announces Change of Company Name and ASX/TSXV Code, and Investor Relations Appointment - More
- December 07, 2010 | Item | ShareThis
West Africa Drilling Highlights Include Granitoid-Hosted Gold Mineralization Intercepts of 27.0 Metres Grading 4.03 Grams Per Tonne ("g/t") and 27.13 Metres - More
- December 07, 2010 | Item | ShareThis
REC Minerals Announces Staking of 10,240 Acre Area in Chapleau, Ontario Gold District - More
- December 07, 2010 | Item | ShareThis
Zincore Drilling Indicates Opportunity to Expand Resources East Of Known Accha Deposit - More
- December 07, 2010 | Item | ShareThis
MAWSON ANNOUNCES ADVISORY BOARD - More
- December 07, 2010 | Item | ShareThis
Alexandria Continues to Expand Akasaba Gold Potential with Deep Intersection - More
- December 07, 2010 | Item | ShareThis
Augyva and Century Plan Phase II Drilling at Duncan Lake Iron Ore Project - More
- December 07, 2010 | Item | ShareThis
Yukon-Nevada Gold Corp Appoints General Manager at Jerritt Canyon - More
- December 07, 2010 | Item | ShareThis
Midlands Minerals Retains Merriman Capital to Pursue Listing on the OTCQX - More
- December 07, 2010 | Item | ShareThis
Camino Minerals Corporation: Induced Polarization Survey Underway at El Rincon Gold Project; 3,000 Metre Reverse Circulation Drilling Program to Begin in Jan. - More
- December 07, 2010 | Item | ShareThis
American Paramount Gold Commences Due Diligence Process on the Kisita Gold Mine - More
- December 07, 2010 | Item | ShareThis
Liberty Silver Corp. Appoints Mr. W. Thomas Hodgson to Its Board of Directors - More
- December 07, 2010 | Item | ShareThis
Qiao Xing Universal Resources, Inc. Reports Third-Quarter 2010 Financial Results - More
- December 07, 2010 | Item | ShareThis
Goldgroup Hits 332.86 g/t Au over 5.5 m Including 2,424.89 g/t Au over 0.75 m in New Drilling at San José de Gracia - More
- December 07, 2010 | Item | ShareThis
Centurion Minerals Enters Into Strategic Alliance With PT Titan Metals; Arranges $4 Million Private Placement - More
- December 07, 2010 | Item | ShareThis
Detour Gold Reports More Positive Results From Its 2010 Drilling Program at Detour Lake Project in Ontario - More
- December 07, 2010 | Item | ShareThis
Energizer Resources Provides Business Update - More
- December 07, 2010 | Item | ShareThis
Fjordland Discovers Two New Copper-Gold-Molybdenum Targets at Moffat - More
- December 07, 2010 | Item | ShareThis
Lago Dourado Commences Drilling on Its Juruena Property - More
- December 07, 2010 | Item | ShareThis
Lithium Americas Corp. Included in Global Lithium ETF - More
- December 07, 2010 | Item | ShareThis
VISIBLE GOLD MINES OPTIONS CADILLAC MINING'S 60% INTEREST IN CADILLAC BREAK GOLD PROJECT - More
- December 07, 2010 | Item | ShareThis
Sulliden Announces 2011 Exploration Program - More
- December 07, 2010 | Item | ShareThis
Lara Sells Midu Interest to JV Partner - More
- December 07, 2010 | Item | ShareThis
Terraco Gold and Western Standard Execute Definitive Agreement - More
- December 07, 2010 | Item | ShareThis
Willow Creek Commissions Updated NI 43-101 Report for Hercules Gold & Silver Property, Nevada - More
- December 07, 2010 | Item | ShareThis
GlobeStar Announces Receipt of Chinese Regulatory Approvals by Perilya - More
- December 07, 2010 | Item | ShareThis
Molycor Gold Corp.: Wardrop Awarded Preliminary Economic Assessment Contract - More
- December 07, 2010 | Item | ShareThis
Supatcha Resources Signs Definitive Agreement and Acquires Advanced Staged Balka Skyrokaya Gold Property - More
- December 07, 2010 | Item | ShareThis
Candente Explores New Copper-Gold Project in Southern Peru - More
- December 07, 2010 | Item | ShareThis
Phase One Drilling Assays Highlight 15.81 GPT/AU 39.28 GPT/AG 0.025% CU Over 6 Metres Hole BA-10-03, Phase Two Drilling Commenced Eastern Extension Quebec - More
- December 07, 2010 | Item | ShareThis
Drilling Starts on Tanzanian Gold Prospect - More
- December 07, 2010 | Item | ShareThis
Quantum Announces Airborne Geophysical Survey of Elk Creek Carbonatite - More
- December 07, 2010 | Item | ShareThis
Spanish Mountain Provides Clarification on Preliminary Economic Assessment (PEA) for the Spanish Mountain Gold Project - More
- December 07, 2010 | Item | ShareThis
Abcourt Announces First Drilling Results on Abcourt-Barvue Property - "Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX VENTURE:ABI - News; FRANKFURT:ABI - News; BERLIN:ABI - News; the "Company") announce that the Company has received the first assay results from its surface diamond drilling program on its Abcourt- Barvue silver-zinc property. The drilling was done on sections 5625 E to 5730 E at depths ranging from 150 to 200 meters from surface to improve the quality of the resources and to augment them. This is done to justify an increase in the size of the proposed mill from 650,000 tonnes to 1,000,000 tonnes annually and at the same time, to reduce the unit mining costs by treating a larger volume of ore annually. As indicated by the following results, this program is very successful, giving on the average of 7.7 ounces of silver and 2.09% zinc per tonne and it is continuing. This drilling program is part of our 2010 drilling program and is paid with funds raised in December 2009." More
- December 07, 2010 | Item | ShareThis
Alexco Resource Corp. Announces Increase to Bought Deal Common Share Financing - "Alexco Resource Corp. (the "Company") is pleased to announce that, in connection with its previously announced bought deal offering (the "Offering") led by a syndicate of underwriters (the "Underwriters"), it has increased the Offering from CAD$30,750,000 to CAD$41,000,000. If the over-allotment option is fully exercised, the gross proceeds from the Offering will be CAD$47,150,000." More
- December 07, 2010 | Item | ShareThis
Kimber Announces Terms of C$11,060,000 Million Unit Offering - "Kimber Resources Inc. (NYSE AMEX:KBX, TSX:KBR) ("Kimber" or the "Company") announced today that in connection with its previously announced overnight marketed public offering, it has entered into an underwriting agreement with a syndicate of underwriters (the "Underwriters"), whereby the Underwriters have agreed to purchase 7,900,000 units (the "Units") at a price of C$1.40 per Unit, each Unit consisting of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase one common share of the Company for a period of two years following the closing of the Offering at a price of C$1.80." More
- December 07, 2010 | Item | ShareThis
Endeavour Silver's Revised Takeover Bid for Cream Minerals Expires; Endeavour Invites Cream to Enter Into an Option and Joint Venture Agreement - "Endeavour Silver Corp. ("Endeavour") (TSX:EDR - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announces that its revised takeover bid dated November 18, 2010 (the "Offer") to acquire all of the issued and outstanding common shares ("Shares") of Cream Minerals Ltd. ("Cream") expired today." More
- December 07, 2010 | Item | ShareThis
Oremex Expands Silver Mineralization Potential at El Sol Project - "Oremex Resources Inc. (TSX VENTURE:ORM - News; OTCQX:ORXRF)(FRANKFURT:OSI - News) is pleased to announce that recent exploration work at its wholly owned El Sol silver project has expanded the potential for silver mineralization. El Sol is located approximately 1km northwest of the Cerro Las Minitas mine, close to the town of Guadalupe Victoria, in Durango State, Mexico. The El Sol project is immediately north of Southern Silver's Cerro Las Minitas project, which is focused on substantial silver plus base metal mineralization in skarns and carbonate replacement deposits (CRD)." More
- December 07, 2010 | Item | ShareThis
Gammon Reports Strong Operating Performance at the Ocampo Mine for October and November - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News): is pleased to provide preliminary results from the Ocampo mine for the months of October and November. Operations at the Ocampo mine continue to strengthen and benefit from the completion of the two year capital expansion program. All figures reported are in U.S. dollars unless otherwise indicated." More
- December 07, 2010 | Item | ShareThis
Brigus Gold Launches Exploration Program at Stock Gold Mine - "Brigus Gold Corp. ("Brigus Gold" or the "Company") (TSX:BRD - News)(AMEX:BRD - News) has completed the review of historical information from the past producing underground Stock gold mine located on Brigus' 100% owned 24 square kilometre Stock Mine property in the Timmins Mining District, Ontario. The review has confirmed the potential for further gold mineralization below the historical Stock Mine workings, as well as, for discovering new gold mineralized zones along strike. Brigus will launch an exploration drill program and plans to have two drill rigs active on the property beginning in the first quarter of 2011." More
- December 07, 2010 | Item | ShareThis
Alexco Resource Corp. Announces CAD$30.8 Million Bought Deal Financing - "Alexco Resource Corp. (the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, pursuant to a short form prospectus, 3,750,000 common shares (the "Common Shares") of the Company at a price of CAD$8.20 per share for gross proceeds of CAD$30,750,000 (the "Underwritten Offering"). In addition, the Company will grant the Underwriter an over-allotment option, exercisable for a period of up to 30 days after the closing of the Underwritten Offering, to purchase from the Company up to an additional 562,500 common shares at CAD$8.20 per share to raise additional gross proceeds of up to CAD$4,612,500 (the "Over-Allotment Option", and together with the Underwritten Offering, the "Offering")." More
- December 07, 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 7 December, 2010 | |
