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-- Posted 12 January, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $1386.15 | +$1.65 | Silver | $29.55 | +$0.01 | XAU | 216.15 | -0.10% | HUI | 544.14 | -0.14% | GDM | 1609.00 | -0.09% | JSE Gold | 2580.36 | -4.44 | USD | 80.03 | -0.75 | Euro | 131.35 | +1.62 | Yen | 120.51 | +0.42 | Oil | $91.86 | +$0.75 | 10-Year | 3.355% | +0.014 | T-Bond | 120.78125 | -0.1875 | Dow | 11755.44 | +0.72% | Nasdaq | 2737.33 | +0.75% | S&P | 1285.96 | +0.90% |
The Metals: Gold saw a $2.45 gain at $1386.95 in Asia before it chopped its way back lower in London and early New York trade to as low as $1376.63 by a little after 10AM EST, but it then rallied back higher in the last few hours of trade and ended near its earlier high with a gain of 0.12%. Silver climbed $0.27 to $29.81 and fell to $29.372 before it also rallied back higher and ended with a gain of 0.03%. Euro gold fell to about €1056, platinum gained $33.50 to $1798.50, and copper gained 6 cents to about $4.40. Gold and silver equities fell over 1% in the first hour of trade before they rallied back higher, but they still ended with slight losses. The Economy: Report | For | Reading | Expected | Previous | Import Prices | Dec | 1.1% | - | 1.5% | Import Prices ex-oil | Dec | 0.3% | - | 0.8% | Export Prices | Dec | 0.7% | - | 1.5% | Export Prices ex-ag. | Dec | 0.6% | - | 0.8% | Treasury Budget | Dec | -$80.0B | -$80.0B | -$91.4B |
The fed’s Beige Book for January “said holiday- season spending and increased manufacturing drove an economic expansion across the U.S. in November and December, with businesses cautiously optimistic about their 2011 outlooks.” Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/08 expected at 415,000, the Trade Balance for November expected at -$41.0 billion, and PPI for December expected at 0.8%. Core PPI is expected at 0.2%. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil continued higher after the Energy Information Administration reported that crude inventories fell 2.2 million barrels, gasoline inventories rose 5.1 million barrels, and distillates rose 2.7 million barrels. The U.S. dollar index fell as the euro rose after 1.25 billion euros of Portuguese government bonds sold with strong demand. Treasuries fell as the Dow, Nasdaq, and S&P rose on easing European debt worries, but losses in bonds moderated after today’s $21 billion 10-year note auction drew a high yield of 3.388% with a bid to cover of 3.30. Among the big names making news in the market today were Airbus, ITT, AIG, JPMorgan, American Assets, and Cliffs and Consolidated Thompson. The Commentary:  “Dear Friends,
The CCI, Continuous Commodity Index, which I use to track the commodity complex as a whole, today scored yet another all time record high. It should be noted that it moved to this new and higher level without any meaningful assistance from gold and silver which were fighting off selling for most of the session. The big movers were the grains on the heels of a bullish USDA report, crude oil as it pushed past $92 and the livestock sector, with cattle futures moving to yet another all time record high. With the commodity complex ratcheting upward, it is going to pose a real challenge for the perma bears at the Comex to keep the precious metals from moving higher. Selling pressure in gold was tied somewhat to relief over the Portuguese bond sale which was not a total fiasco. That led to bond selling as the need for “safe havens” was somewhat diminished for the time being and brought relief buying back into the Euro. Normally one would expect the Dollar weakness to give gold a bit of a boost but this time around it was selling supposedly tied to the reduced need for gold as a safe haven. Given the tenuous condition of Portugal and Spain, and others in the Euro zone, those that are dismissing a need for gold as a safe haven are very premature. Incidentally, those of you who track the bond market will no doubt have noticed the intervention by the Fed as it continues to screw with the long end of the curve. Bonds recovered nearly a full point off their worst level even with the S&P making yet another yearly high and the CCI sharply higher as well. History is going to point its finger directly at the Bernanke-led Fed and their brazen efforts at distorting the interest rate markets as the prime culprits in making an already unstable debt situation even worse. The notion that bonds should be moving higher with inflationary pressures about to hit like a tsunami is laughable at best. What is Bernanke going to do when crude oil moves to $100 barrel – buy more bonds on the long end to further push it to $110 and higher? Consumers paying $4.50 for gasoline should send their credit card bills to his FOMC for payment as they are responsible for this orgy of commodity buying. I keep warning on what is happening in the food sector – it is now too late to prevent that from hitting us all – what is coming next is energy. The sum of $600 billion to throw at the bond market is no small matter but at some point down the road, that market is going to react with a vengeance. When it does, it will be much like a rubber band that was stretched further and further only to snap back with stinging sharpness. I continue to watch this tragedy unfolding in stunned disbelief. Are these damned fools oblivious to what they are doing to the middle class in this nation?”- Dan Norcini, More at JSMineset.com GATA Posts: 
Jeffrey Bell and Rich Danker: There's no getting around gold Daily Reckoning notes GATA's lawsuit against Fed GATA's Ed Steer interviewed by Michigan radio's Dave Janda Perth Mint reports 'unrelenting' demand for gold on dip below $1,400 The Statistics: Activity from: 1/10/2011 Gold Warehouse Stocks: | 11,683,698 | -14,474 | Silver Warehouse Stocks: | 104,239,641 | -2,014 |
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 | 1271.467 | 40,878,944 | US$56,354m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 122.92 | 3,951,854 | US$5,453m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 132.18 | 4,249,650 | US$5,864m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,922 | US$632m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.10 | 1,643,023 | US$2,265m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,963 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted1.215 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 117.58 - No change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 10,725.73: -60.78 change from yesterday’s data. The Miners: Brigus Gold’s (BRD) drill results, Yamana’s (AUY) gold production, Gammon’s (GRS) drill results, and Fronteer’s (FRG) interim resource estimate were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Northern Dynasty | NAK +11.18% $17.00 | 2. Rubicon | RBY +7.22% $5.94 | 3. Solitario | XPL +6.34% $3.69 |
LOSERS 1. Coeur | CDE -4.14% $26.62 | 2. Golden Minerals | AUMN -3.52% $23.87 | 3. Nevsun | NSU -2.26% $6.91 |
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: Ironwood Gold Signs LOI to Acquire Idaho Property Offering Carlin Trend Characteristics - More
- January 12, 2011 | Item | ShareThis
Hong Kong-Based RCG Holdings to Take 6.10% Equity Stake in Spartan Gold Ltd. for $6.5 Million USD (EUR 5 Million) - More
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Colorado Acquires 4 Additional Yukon Gold Properties and Expands Oro Property - More
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BE Resources Requests Permit Modification for 20 Additional Drill Holes at Its Warm Springs Beryllium Project - More
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Z-Gold Exploration Closes a Private Placement - More
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Andover Announces Sun Work Plan for 2011 - More
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Globex: Gold Recovery Technology Proven Successful Again - More
- January 12, 2011 | Item | ShareThis
Macusani Yellowcake Announces Continued Success With Step-Out, High Grade Intersections at Kihitian Uranium Property, Peru - More
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Calibre Acquires New Concessions in Nicaragua - More
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Ateba Grants Options - More
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Detour Gold Initiates Infrastructure Construction Activities at Detour Lake and Starts 2011 Exploration Program - More
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Ur-Energy Receives Draft NRC License for Lost Creek ISR Project - More
- January 12, 2011 | Item | ShareThis
Malbex Reports 73 Metres @ 1.03 g/t AuEQ in First Results for 2010/2011 Drilling Campaign at Del Carmen Norte - More
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Golden Dawn Receives Excellent Gold and Copper Values From Initial Drilling on Greenwood Targets, British Columbia, Canada - More
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Blair M. Shilleto Named to Golden Predator Board of Directors - More
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Athabasca Uranium Provides Exploration & Project Updates - More
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Arehada Provides Updates on Sale of Subsidiary - More
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Golden Dawn Receives Excellent Gold and Copper Values From Initial Drilling on Greenwood Targets, British Columbia, Canada - More
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Ascot Resources Drills 496.0 Meters of 0.459% Copper in Drill Hole Eleven on the Mt. Margaret Property - More
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Southern Andes Energy's New Uranium Discovery at Alpi-1 Project in Peru - More
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Dia Bras Raises $7,045,545 in Exercise of Warrants - More
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Benton Options Shebandowan North Property from Trillium North Minerals - More
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VHGI GOLD to Commence Phase One of Sun Gold Project - More
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Golden Phoenix Announces Ra Resource Shareholders Have Approved Proposed Acquisition; Closing Remains Subject to Regulatory Approval - More
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Orosur Mining Inc. Announces 2011 Second Quarter and Half Year Earnings Conference Call and Web Cast 9:00 AM Eastern and 14:00 UK time, Thursday January 13, 201 - More
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Uranium North Reports 32.9 g/T Gold, 1350 g/T Silver and 4.2% Copper at Nowyak - More
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Wolverine Purchases the Vivi Property - More
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AXMIN Strengthens Balance Sheet from Sale of Non-Core Assets - More
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Dolat Ventures Expands Operations - More
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Golden Goliath Resources Ltd.: Drilling and Sampling Results Show Bulk Tonnage Deposit Potential at Los Hilos - More
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Crocodile Gold Announces 4th Quarter Production of 22,300 Ounces Despite One of the Wettest Quarters on Record-2010 Production of 81,800 Ounces - More
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Douglas Lake Identifies Several Gold Bearing Shear Structures Parallel the Magambazi Gold Trend - More
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Antioquia Gold's Latest Drilling Intersected New Mineralized Structures at Cisneros in Colombia - More
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Soldi Ventures Inc. Receives Preliminary Interpretation of the Airborne Survey - More
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Rye Patch Gold Drills New Gold and Silver Zone on Lincoln Hill - More
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Source Reports Channel Sample Results of Up to 24 Metres of 5.5g/t Gold, 8.2g/t Silver and 0.38% Copper at Las Minas; Ewan S. Downie Appointed as Chairman - More
- January 12, 2011 | Item | ShareThis
TintinaGold Drills 46.6 Meters Thick Cu-Co-Ag Zone on Its Sheep Creek Property, Montana, USA - More
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Viper Gold Receives Permits to Proceed With Corongo Drill Program and Provides Phase II Summary - More
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Geologix Explorations Inc.: Phase 2 Resource Expansion Drilling Commences at Tepal - More
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Emgold Finds High Grade Gold at Its Buckskin Rawhide Property, Nevada, Including 9.0 opt and 7.4 opt Gold Chip Samples in the Black Eagle Vein - More
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San Gold Extends 007 East to Depth With High Grade Intercept of 31 g/Tonne Over 8.3 Meters - More
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Richfield intersects 222 metres of 1.23 g/t Au - More
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Barkerville Receives Government Approval to Construct Haul Road For Bonanza Ledge - More
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Kaminak Announces $15 Million Initial Phase 1 Budget for Coffee Gold Project, Yukon - More
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Everton's Partner, Aurizon Mines Ltd., to Spend $3.6 Million on its Opinaca-Wildcat Property - in James Bay, Quebec - More
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Maya to Start Due Diligence on Six Projects in Morocco - More
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Ruby Creek Obtains First Gold Plateau Mining License - More
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Gold Bag, Inc. Approved for Electronic Quotation on OTCBB, Has Form 15c211 Accepted by FINRA - More
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Hathor Exploration Limited: Follow Up Winter Drilling Begins at Henday Uranium Project, Saskatchewan - More
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Northair Updates Drilling at La Cigarra Silver Project, Mexico - More
- January 12, 2011 | Item | ShareThis
Challenger Development Corp.: High Grade Gold in Historical Drilling on Tanzania Property - More
- January 12, 2011 | Item | ShareThis
Alto Ventures Ltd.: First Drilling Program Commences on the Alcudia Project, Urban-Barry Gold Belt, Quebec - More
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Forum Commences Drilling on the Henday Uranium Project, Saskatchewan - More
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Evolving Gold Intersects 313 meters at 1.94 gpt Gold at Rattlesnake, Including 21.3 meters at 10.00 gpt Gold - More
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Additional Gold Results from OJVG'S Resource Expansion Drilling Program Include Deepest Intersections To Date - More
- January 12, 2011 | Item | ShareThis
San Marco Resources Defines Gold-In-Soil Anomalies at La Buena Project, Zacatecas, Mexico - More
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American Manganese Inc.: Artillery Peak Hydro-Metallurgical Pilot Plan Awarded to Kemetco Research Inc. - More
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Lions Gate Metals Completes ROK-Coyote Joint Venture - More
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Carpathian Strikes Again in Romania: 664 m of 0.86 g/t Au & 0.17% Cu, Including 213 m of 1.24 g/t Au & 0.24% Cu - More
- January 12, 2011 | Item | ShareThis
High Grade Gold Zone Extended With Assays up to 41.20 G/T - More
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GGG Resources plc: Bullabulling Gold Project-Resource Drilling Update - More
- January 12, 2011 | Item | ShareThis
Vena Resources Prepares to Drill the Esquilache (Ag/Au/Cu) Project - More
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Positive Exploration Drilling Results Continue at Brigus Gold's Black Fox Complex - "Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD) (TSX:BRD.to - News) has received all assay results from 14 drill holes and partial assay results from an additional three drill holes as part of an ongoing exploration program at the Company’s 100% owned Black Fox Complex located in the Timmins Mining District, Ontario. The current exploration program is designed to expand the Black Fox Complex gold resource by systematically drilling mineralized structures." More
- January 12, 2011 | Item | ShareThis
Yamana Gold sees 2011 gold production up on higher grades - "Yamana Gold (YRI.TO) said its 2011 production is expected to increase, partly helped by improving grades at its operations.
The mid-tier gold miner said it expects to produce 1.04-1.14 million gold equivalent ounces in 2011. The company produced 1.046 million gold equivalent ounces in 2010." More
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Gammon Gold Reports 8.9 Metres at 4.25 Grams per Tonne Gold, Including 2.1 Metres Grading 13.93 Grams per Tonne Gold at the Mezquite Project, Zacatecas, Mexico - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News): Gammon is pleased to announce that its drilling program at the Mezquite Project in northeast Zacatecas state, Mexico, has discovered significantly anomalous mineralization. Portions of the mineralization are hosted by the Caracal Formation, the same formation that hosts the deposit at Goldcorp's Camino Rojo project, which is located 26 kilometres southwest of Mezquite with measured and indicated resources of 3,445,000 gold ounces and 60,708,000 silver ounces." More
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Fronteer Gold Reports Interim Resource Estimate for Long Canyon Gold Deposit, Nevada - "Fronteer Gold Inc. (TSX:FRG - News)(AMEX:FRG - News) announces that an interim resource estimate for its wholly owned Long Canyon gold deposit has increased the Measured and Indicated (M&I) resource by 700,000 ounces at 38% higher grade, and increased the Inferred resource by 250,000 ounces at 36% higher grade." More
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-- Posted 12 January, 2011 | |
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