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Gold Seeker Weekly Wrap-Up: Gold Ends the Year at a New All-Time High and Silver Closes at a New 30-Year High

By: Chris Mullen, Gold-Seeker.com


-- Posted 31 December, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

On Week

Gold

$1420.60

+$15.40

+2.85%

Silver

$30.87

+$0.41

+5.21%

XAU

226.58

+1.07%

+2.40%

HUI

573.32

+0.91%

+2.44%

GDM

1705.48

+1.00%

+2.54%

JSE Gold

2690.62

+0.21

+1.39%

USD

79.05

-0.48

-1.76%

Euro

133.70

+0.79

+1.40%

Yen

123.11

+0.43

+2.12%

Oil

$91.38

+$1.54

-0.14%

10-Year

3.305%

-0.064

-2.59%

Bond

122.125

+1.125

+1.40%

Dow

11577.51

+0.07%

+0.03%

Nasdaq

2652.87

-0.38%

-0.48%

S&P

1257.64

-0.02%

+0.07%

 
 

 

The Metals:

 

Gold steadily rose throughout most of world trade and ended near its last minute high of $1420.90 with a gain of 1.1% at a new all-time closing high.  Silver followed a similar pattern and ended near its last minute high of $30.933 with a gain of 1.35% at a new 30-year closing high.

 

Euro gold climbed to almost €1064, platinum gained $31.75 to $1772.00, and copper climbed another 8 cents to a new record high at about $4.44.

 

Gold and silver equities rose over 1% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

All of this week’s other economic reports:

 

Pending Home Sales - November

3.5% v. 10.1%

 

Chicago PMI - December

68.6 v. 62.5

 

Initial Claims - 12/25

388K v. 422K

 

Consumer Confidence - December

52.5 v. 54.3

 

Case-Shiller 20-city Index - October

-0.8% v. 0.44%

 

Next week’s economic highlights include Construction Spending and the ISM Index on Monday, Factory Orders and FOMC Minutes on Tuesday, ADP Employment and ISM Services on Wednesday, Initial Jobless Claims on Thursday, and December’s jobs data and Consumer Credit on Friday.

 

The Markets:

 

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

 

Oil jumped back above $91 a barrel as the U.S. dollar index fell rather markedly on the continued move towards higher yielding assets and currencies.

 

Treasuries found decent gains while the Dow, Nasdaq, and S&P waffled near unchanged in light trading.

 

Among the big names making news in the market Friday were JP Morgan Chase, Borders, Time Warner Cable, Chevy, Nissan, CVS, Clearwire, Imax, and Pimco.

 

GATA Posts:

 

Venezuela devalues for second time this year

Hugo Salinas Price: Thoughts about the manipulation of gold and silver prices

 

The Statistics:

Activity from: 12/30/2010

Gold Warehouse Stocks:

11,591,781

-50,997

Silver Warehouse Stocks:

104,849,228

+142,069

 

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

1280.722

41,176,502

US$57,854m

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

Gold Bullion Securities

123.25

3,962,668

US$5,599m

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

ETFS Physical Gold

132.01

4,244,391

US$5,997m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,983

US$648m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

50.99

1,639,373

US$2,316m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,963

US$7m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.34 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 117.18 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,903.34 - No change from yesterday’s data.

 

The Miners:

WINNERS

1.  Cardero

CDY+17.95% $2.30

2.  Timberline

TLR +8.18% $1.19

3.  Paramount

PZG +8.13% $3.99

 

LOSERS

1.  Vista

VGZ -3.63% $2.39

2.  Solitario

XPL -2.68% $3.63

3.  Ivanhoe

IVN-1.63% $22.92

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:

Nevada Exploration Announces Grant of Stock Options - More
- December 31, 2010 | Item | ShareThis


Uragold Closes Broker Private Placement - More
- December 31, 2010 | Item | ShareThis


Fancamp Completes Final Tranche of $4 Million Brokered Financing - More
- December 31, 2010 | Item | ShareThis


Osisko Draws $75 Million on CPPIB Credit Investments Inc. Credit Facility. - More
- December 31, 2010 | Item | ShareThis


Explor Resources Inc.: Private Placement Press Release - More
- December 31, 2010 | Item | ShareThis


Laurion Mineral Exploration Inc.-Issuance of Stock Options - More
- December 31, 2010 | Item | ShareThis


Dia Bras Reports Drilling Results From La Cascada Gold Target at Bolivar Property - More
- December 31, 2010 | Item | ShareThis


Formation Metals Closes $77.7 Million Bond Issue for Idaho Cobalt Project - More
- December 31, 2010 | Item | ShareThis


Explor Acquires Sauve Property - More
- December 31, 2010 | Item | ShareThis


Ecometals Announces Changes to Its Key Officers and Audit Committee - More
- December 31, 2010 | Item | ShareThis


Conquest Closes $0.5 Million Private Placement - More
- December 31, 2010 | Item | ShareThis


Ecometals Limited: Sale of Condor Gold Project - More
- December 31, 2010 | Item | ShareThis


Nuinsco Resources Limited Announces Closing of Private Placement - More
- December 31, 2010 | Item | ShareThis


White Canyon Completes $750,000 Short Term Loan Agreement - More
- December 31, 2010 | Item | ShareThis


Eastmain Resources Inc.: Private Placement & Drilling Update - More
- December 31, 2010 | Item | ShareThis


First Gold Closes a $2,900,000 Private Placement With the MineralFields Group - More
- December 31, 2010 | Item | ShareThis


Key Gold Holdings Inc. Announces the Closing of a Non-Brokered Private Placement of Flow-Through Shares - More
- December 31, 2010 | Item | ShareThis


Nevado Completes $4,413,790 Oversubscribed Financing Lead by Aberdeen Gould Capital Markets Ltd. - More
- December 31, 2010 | Item | ShareThis


Alto Group Holdings Announces Acquisition Completed of Ownership in Bogue Gold Project - More
- December 31, 2010 | Item | ShareThis


Geologix Appoints Mauricio Candiani Galaz to the Board of Directors - More
- December 31, 2010 | Item | ShareThis


Rt Minerals Announces Closing of Property Acquisitions and Private Placements - More
- December 31, 2010 | Item | ShareThis


PolyMet Announces Board Reorganization - More
- December 31, 2010 | Item | ShareThis


Douglas Lake Announces Transfer of Prospecting Licenses From IPP Gold Limited to Douglas Lake - More
- December 31, 2010 | Item | ShareThis


Fortress Corporate Update - More
- December 31, 2010 | Item | ShareThis


Gold Bag Announces Closing of High Grade Gold Project in Mexico - More
- December 31, 2010 | Item | ShareThis


Common Shares of White Tiger Gold Ltd. to Commence Trading on TSX at Market Open on December 31, 2010 - More
- December 31, 2010 | Item | ShareThis


Bonaparte Announces Closing of Private Placement - More
- December 31, 2010 | Item | ShareThis


Fission Grants Stock Options - More
- December 31, 2010 | Item | ShareThis


Rencore Resources Ltd. Announces First Closing of Private Placement - More
- December 31, 2010 | Item | ShareThis


Bold Ventures Inc. Announces First Closing of Private Placement - More
- December 31, 2010 | Item | ShareThis


Key Gold Holdings Inc. Announces a Non-Brokered Private Placement of Flow-Through Shares - More
- December 31, 2010 | Item | ShareThis


Mazorro Closes Private Placement Financings for Total Proceeds of $1,611,250 - More
- December 31, 2010 | Item | ShareThis


Explor Resources Inc.: Private Placement - More
- December 31, 2010 | Item | ShareThis


Ivanhoe Mines Common Shares Now Trading "Ex-Rights" on Toronto and New York Stock Exchanges and NASDAQ - "Ivanhoe Mines (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News) announced today that the company's shares began trading "ex-rights" on the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE) and NASDAQ Stock Market on December 29, 2010." More
- December 31, 2010 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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© 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 31 December, 2010 | |


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