-- Posted 13 December, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1397.00 | +$13.20 |
Silver | $29.57 | +$0.97 |
XAU | 225.78 | +1.04% |
HUI | 576.43 | +1.04% |
GDM | 1714.71 | +0.89% |
JSE Gold | 2786.18 | +63.25 |
USD | 79.34 | -0.74 |
Euro | 133.91 | +1.63 |
Yen | 119.88 | +0.76 |
Oil | $88.61 | +$0.82 |
10-Year | 3.283% | -0.013 |
T-Bond | 123.40625 | +0.375 |
Dow | 11428.56 | +0.16% |
Nasdaq | 2624.91 | -0.48% |
S&P | 1240.46 | +0.00% |
The Metals:
Gold steadily rose throughout most of trade in Asia, London, and New York and ended near its 10AM EST high of $1399.20 with a gain of 0.95%. Silver followed a similar pattern and closed near its midmorning high of $29.692 with a gain of 3.39%.
Euro gold fell to about €1040, platinum gained $28 to $1698.00, and copper gained almost 10 cents to about $4.20.
Gold and silver equities rose about 2% by midmorning before they fell back off a bit in afternoon trade, but they still ended with about 1% gains.
The Economy:
Federal Reserve not about to shift out of hot seat Yahoo
`Shadow' Lenders' Emergency Fed Loans Benefited Biggest Banks Bloomberg
Senate nears key vote on Obama tax package Reuters
There were no major economic reports today. Tomorrow at 8:30AM EST brings PPI for November expected at 0.5%, Core PPI expected at 0.2%, and Retail Sales for November expected at 0.5%. Excluding autos, sales are expected at 0.6%. At 10AM is the Business Inventories report for October expected at 1.1% and at 2:15PM is a FOMC rate decision that is expected to leave the Fed funds rate unchanged at 0-0.25%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose and the U.S. dollar index fell after China did not raise interest rates as many had expected them to do.
Treasuries rose while the Dow, Nasdaq, and S&P ended mixed and near unchanged as traders waited for economic news and the vote on the tax cut package.
Among the big names making news in the market today were Bank of America, GE, Thermo Fisher and Dionex, and Gap.
GATA Posts:
Central banks have rigged gold for decades, Rickards tells interviewer
N.Y. Times: A secretive banking elite rules trading in derivatives
Charlie Rose interviews Munk, Hathaway, and Grant on gold
MineWeb notes reports of banks failing to return metal
The Statistics:
Activity from: 12/10/2010
Gold Warehouse Stocks: | 11,514,404 | -55,227 |
Silver Warehouse Stocks: | 105,811,928 | -1,245,654 |
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 | 1289.830 | 41,469,338 | US$58,007m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.96 | 3,921,198 | US$5,469m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 133.58 | 4,294,644 | US$5,990m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,075 | US$638m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.00 | 1,639,733 | US$2,281m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,964 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.948 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 107.95 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,941.34 - No change from yesterday’s data.
The Miners:
Ivanhoe’s (IVN) construction budget, Keegan’s (KGN) updated resource estimate, Capital Gold’s (CGC) first quarter revenue, Fronteer’s (FRG) drill results, Kirkland’s (KGI.TO) addition to the S&P/TSX Composite Index, Minefinders’ (MFN) bought deal financing, and ECU’s (ECU.TO) addition to the S&P/TSX Global Mining Index were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Banro | BAA+15.58% $3.71 |
2. Paramount | PZG +9.65% $2.84 |
3. Fronteer | FRG+7.47% $11.36 |
LOSERS
1. Solitario | XPL -4.62% $2.27 |
2. Metalline | MMG -4.17% $1.09 |
3. DRDGOLD | DROOY-2.92% $4.815 |
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:
Minefinders Announces $151,515,000 Bought Deal - "Minefinders Corporation Ltd. (TSX:MFL - News)(AMEX:MFN - News) ("Minefinders" or the "Company") has announced today that it has entered into an agreement with a syndicate of underwriters under which the underwriters have agreed to purchase on a bought deal basis by way of a supplement to the Company's short form base shelf prospectus filed in Canada and the base shelf prospectus in the Company's Form F-10 registration statement filed in the U.S., 13,650,000 common shares (the "Common Shares") at a price of C$11.10 per Common Share for gross proceeds of C$151,515,000 (the "Offering")." More
- December 13, 2010 | Item | ShareThis
Vantex Announces Common Share Units and Flow-Through Units Offering for a Maximum of CDN$2,000,000 - More
- December 13, 2010 | Item | ShareThis
Zamin Precious Minerals Ltd. Press Release - More
- December 13, 2010 | Item | ShareThis
Baja Announces S&P/TSX Global Mining Index and S&P/TSX Global Base Metals Index Addition - More
- December 13, 2010 | Item | ShareThis
Southern Silver Closes Final Tranche of Private Placement and Updates Oro, Dragoon Projects - More
- December 13, 2010 | Item | ShareThis
Claim Post Resources Completes Initial Tranche of Financings - More
- December 13, 2010 | Item | ShareThis
Canarc Closes CA$1.275 Million Private Placement Financing - More
- December 13, 2010 | Item | ShareThis
Yale Aqcuires Ag/Cu/Zn Property in Sonora State, Mexico - More
- December 13, 2010 | Item | ShareThis
Orosur Mining Inc Announces Appointment of Non Executive Director - More
- December 13, 2010 | Item | ShareThis
Orosur Mining Inc. Stock Options Grant - More
- December 13, 2010 | Item | ShareThis
Maritime Develops New Targets on Orion Gold Deposit - More
- December 13, 2010 | Item | ShareThis
TALON CLOSES TRANSACTION WITH RIO VERDE MINERALS ON THE SERGIPE POTASH PROJECT - More
- December 13, 2010 | Item | ShareThis
TALON ANNOUNCES FIRST RESULTS OF DRILLING ON TRAIRÃ%u0192O IRON PROJECT - More
- December 13, 2010 | Item | ShareThis
Golden Goose Shareholders Approve Plan of Arrangement With Kodiak - More
- December 13, 2010 | Item | ShareThis
First Gold Exploration Inc.: New Appointment - More
- December 13, 2010 | Item | ShareThis
SUNSET COVE RECEIVES COMMUNITY APPROVAL: DRILLING SET TO COMMENCE SHORTLY ON CAROLAY SILVER VEIN - More
- December 13, 2010 | Item | ShareThis
Lexam and VG Gold Shareholders Overwhelmingly Approve Business Combination - More
- December 13, 2010 | Item | ShareThis
Ring of Fire Resources Inc. Announces West Timmins Area Land Acquisition - More
- December 13, 2010 | Item | ShareThis
Nuinsco Expands Size of Bukari Gold Showing in Egypt's Eastern Desert - More
- December 13, 2010 | Item | ShareThis
Soldi Ventures Inc. Commences Airborne Survey Over Its Entire Land Package in the Rainy River-Cameron Lake Area - More
- December 13, 2010 | Item | ShareThis
Rainy River and Northern Superior Discover Gold at Ti-Pa-Haa-Kaa-Ning ("TPK") Project: 25.9 g/t Au Over 13.5 Metres in TPK-10-004 - More
- December 13, 2010 | Item | ShareThis
Cangold Provides Shareholder Update - More
- December 13, 2010 | Item | ShareThis
Wildcat Commences Next Phase of Drilling Program - More
- December 13, 2010 | Item | ShareThis
Ashburton Identifies a New Vein System With Visible Gold Sampling Up to 20 g/t at Deep Creek, Nevada - More
- December 13, 2010 | Item | ShareThis
Crocodile Gold Added to S&P/TSX Global Mining Index and S&P/TSX Global Gold Index - More
- December 13, 2010 | Item | ShareThis
Molycorp Secures Last of Permits Needed for Construction Start of $531 Million Rare Earth Manufacturing Supply Chain Project - More
- December 13, 2010 | Item | ShareThis
Avala Resources Announces Acceleration of Warrants Expiry - More
- December 13, 2010 | Item | ShareThis
Great Western Minerals Group Enters Into Advisory Agreement With Byron Securities - More
- December 13, 2010 | Item | ShareThis
Galahad Completes Down-Hole Geophysical Survey at Regcourt Property - More
- December 13, 2010 | Item | ShareThis
Sultan Minerals Resumes Drilling High Grade Gold Target on the Kena Property, BC - More
- December 13, 2010 | Item | ShareThis
Alto Announces Results from AGM Meeting - More
- December 13, 2010 | Item | ShareThis
Luna Gold Further Increases Strategic Land Position at Aurizona - More
- December 13, 2010 | Item | ShareThis
Viper Gold Announces Amendments to Terms of Financing - More
- December 13, 2010 | Item | ShareThis
Klondex Identifies Six Previously Unknown Gold Vein Structures and Extends Main Vein System to the South in Its Fire Creek Nevada Development Program - More
- December 13, 2010 | Item | ShareThis
Quadra FNX Sells Gold Wheaton Shares for C$262 Million Plus Possible Top Up - More
- December 13, 2010 | Item | ShareThis
Cerro Resources Acquires Namiquipa Silver Project, Mexico; Placement - More
- December 13, 2010 | Item | ShareThis
Silver Predator Signs Definitive Agreements - More
- December 13, 2010 | Item | ShareThis
Evolving Gold Intersects 332.2 meters at 1.28 gpt Gold at Rattlesnake, Including 42.7 meters at 3.91 gpt Gold - More
- December 13, 2010 | Item | ShareThis
Playfair to Drill Seal Lake Copper-Silver Project - More
- December 13, 2010 | Item | ShareThis
Alderon Appoints New Directors - More
- December 13, 2010 | Item | ShareThis
Metals Creek Intersects 1.08 g/t Gold Over 54.7 Meters at Thomas Ogden Zone in Timmins, Ontario - More
- December 13, 2010 | Item | ShareThis
First Lithium Resources Inc.: Expansion of Drilling Program on Mollie River Property - More
- December 13, 2010 | Item | ShareThis
Laurion Mineral Exploration Inc.: Spurr Assay Results Confirm and Extend Mineralized Zone to Depth - More
- December 13, 2010 | Item | ShareThis
Glass Earth to Raise Up to C$3 Million - More
- December 13, 2010 | Item | ShareThis
Franco-Nevada Corporation Offers to Acquire All Shares of Gold Wheaton in Friendly Business Combination - More
- December 13, 2010 | Item | ShareThis
Tuffnell Secures Funding for its Little Butte Gold Property - More
- December 13, 2010 | Item | ShareThis
Shamika2Gold Appoints Fred Clement de la Forge Chief Operating Officer - More
- December 13, 2010 | Item | ShareThis
SUNSET COVE RECEIVES COMMUNITY APPROVAL: DRILLING SET TO COMMENCE SHORTLY ON CAROLAY SILVER VEIN - More
- December 13, 2010 | Item | ShareThis
Rare Earth Metals Inc. Reports Final Prospect Sampling Results From Its Red Wine Property and Has Initiated Mineralogy Studies on the Two Tom and Mann #1 Depos. - More
- December 13, 2010 | Item | ShareThis
East Asia Minerals Commences Independent NI43-101 Resource Estimate at Miwah - More
- December 13, 2010 | Item | ShareThis
Copper Mountain Mining Corporation - Drilling in Oriole Zone Confirms Higher Grade Mill Feed - More
- December 13, 2010 | Item | ShareThis
Continental Nickel Intersects High Grade Sulphides Grading 5.01% Nickel and 0.77% Copper over 9.3 Metres at the Sleeping Giant Zone - More
- December 13, 2010 | Item | ShareThis
Adjustment to Conversion Price of Uranium One Convertible Debentures - More
- December 13, 2010 | Item | ShareThis
Canadian Orebodies Assays Up to 4.09% Li2O and 501 ppm Ta2O5 on Zigzag Property - More
- December 13, 2010 | Item | ShareThis
Tirex Intersects 19.3m (63.3 ft) of 3.66% Copper, 1.13% Zinc and 1.2g/t Gold including 6.7m (22.0 ft) of 7.38% Copper, 1.77% Zinc and 1.6g/t Gold at Gurthi - More
- December 13, 2010 | Item | ShareThis
Probe Mines Announces Formation of Joint Venture With Lake Shore Gold Corp on West Timmins Project; Drilling Program Planned for January 2011 - More
- December 13, 2010 | Item | ShareThis
Kivalliq Announces High Grade Uranium Discovery 1.8 km from Lac Cinquante - More
- December 13, 2010 | Item | ShareThis
Radisson Mining Announces Closing of $300,000 Placement of Flow-Through Shares - More
- December 13, 2010 | Item | ShareThis
Sulliden Added to S&P/TSX Global Mining Index - More
- December 13, 2010 | Item | ShareThis
Capstone Announces S&P/TSX Composite Index Addition - More
- December 13, 2010 | Item | ShareThis
Nevado Signs With Aberdeen Gould Capital Markets Ltd., for $3,600,000 Flow Through, Super Flow Through and Hard Dollar Financing - More
- December 13, 2010 | Item | ShareThis
ICS Closes Private Placement of CAD $250,000 and Provides Exploration Update on Excelsior Gold - More
- December 13, 2010 | Item | ShareThis
Supatcha Announces 2nd Unsolicited Bid - More
- December 13, 2010 | Item | ShareThis
HudBay Minerals Announces 2011 Production Guidance and Capital and Exploration Budgets - More
- December 13, 2010 | Item | ShareThis
Mustang to Raise Funds to Complete Makwa Feasibility Study and Acquire Nickel Processing Plant - More
- December 13, 2010 | Item | ShareThis
Gold Hawk Builds Foundation for Year of Growth in 2011 - More
- December 13, 2010 | Item | ShareThis
Bellhaven Drills 1 g/t Au and 0.36% Cu (1.6 g/t AuEq) Over 126 Meters at the La Mina Porphyry Gold-(Copper) Project, Colombia - More
- December 13, 2010 | Item | ShareThis
Term Sheet With Major Copper Mining Company on KSK Project - More
- December 13, 2010 | Item | ShareThis
Vena Enters Into Letter of Intent to Develop Las Princesas Au/Ag Project - More
- December 13, 2010 | Item | ShareThis
ECU Silver to Be Added to the S&P/TSX Global Mining Index - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to announce that it has been added to the S&P/TSX Global Mining Index, effective at the open of markets on Monday, December 20, 2010." More
- December 13, 2010 | Item | ShareThis
Ivanhoe Mines Approves US$2.3 Billion Budget for Ongoing Construction at Oyu Tolgoi Copper-Gold Mining Complex in 2011 - "Robert Friedland, Executive Chairman and Chief Executive Officer of Ivanhoe Mines (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News), and John Macken, President, announced today that a US$2.3 billion capital budget has been approved for 2011 in what will be the peak year of construction activity on the first phase of the Oyu Tolgoi copper-gold project in southern Mongolia." More
- December 13, 2010 | Item | ShareThis
Keegan Releases Updated Resource Estimate for Esaase Gold Project, SW Ghana - "Keegan Resources Inc. (TSX:KGN - News)(AMEX:KGN - News) ("Keegan") is pleased to announce that the company has received an updated resource estimate for the Esaase Gold Project in southwest Ghana. The updated resource includes 3.23 million ounces of gold in an indicated category with an average grade of 1.2 g/t Au at a 0.4 g/t Au cutoff and 1.68 million ounces of gold in an inferred category at an average grade of 1.0 g/t Au applying a 0.4 g/t Au cut-off for a total inferred and indicated resource of 4.91 Moz of gold. A total of 770 holes drilled at collar spacing ranging from 25m by 40m to 40m by 80m and over 190,000m of drilling were used to establish the resource. This resource estimation represents over 3.5 km of strike length along the A-1 structure and includes drilling done in the B-1 and D-1 mineralized zones." More
- December 13, 2010 | Item | ShareThis
Capital Gold Corporation Reports First Quarter Revenue Up 62% - "Capital Gold Corporation (NYSE AMEX: CGC; TSX: CGC) today reported a 62% increase in revenue and a 26% increase in gold ounces sold for the first fiscal quarter ended October 31, 2010, compared to the first fiscal quarter of last year, as a result of higher gold prices and more ounces sold. The Company recorded gold sales of 14,837 ounces at an average realized price of $1,277 per ounce for the first fiscal quarter versus 11,733 ounces sold for the fiscal quarter in the prior period at an average price of $999. Net income for the three months ended October 31, 2010 and 2009 was approximately $2,954 and $2,939, respectively, representing an increase of approximately 1% over the prior period." More
- December 13, 2010 | Item | ShareThis
Fronteer Gold Inc.: Drilling to West of Resource Area at Long Canyon Returns 9.84 g/t Gold Over 27.7 Metres - "Fronteer Gold (TSX:FRG - News)(AMEX:FRG - News) reports it has intersected wide intervals of high-grade, oxide gold to the west of the resource area at its wholly owned Long Canyon deposit, and that aggressive step-out drilling to the northeast is well underway." More
- December 13, 2010 | Item | ShareThis
Kirkland Lake Gold Added to S&P/TSX Composite Index - "Kirkland Lake Gold Inc. ('Kirkland Lake Gold' or the 'Company') (TSX:KGI - News)(AIM: KGI), an operating and exploration gold mining company located in Ontario, Canada, is pleased to announce it has been added to the S&P/TSX Composite Index effective at market open on Monday, December 20, 2010." More
- December 13, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 13 December, 2010 | |