-- Posted 4 February, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1347.60 | -$4.40 | +0.51% |
Silver | $29.04 | +$0.28 | +4.09% |
XAU | 207.25 | -0.76% | +3.78% |
HUI | 527.80 | -0.71% | +3.55% |
GDM | 1558.81 | -0.80% | +3.40% |
JSE Gold | 2663.05 | +68.22 | +5.61% |
USD | 78.06 | +0.30 | -0.10% |
Euro | 135.88 | -0.42 | -0.18% |
Yen | 121.67 | -0.81 | -0.08% |
Oil | $89.03 | -$1.51 | -0.35% |
10-Year | 3.652% | +0.111 | +9.70% |
Bond | 117.875 | -1.21875 | -2.93% |
Dow | 12092.15 | +0.25% | +2.27% |
Nasdaq | 2769.30 | +0.56% | +3.07% |
S&P | 1310.87 | +0.29% | +2.71% |
The Metals:
Gold fell as much as $6.10 to $1345.90 just after the jobs report was released before it rallied to see a $5.84 gain at $1357.84 by midmorning, but it then fell to a new session low of $1345.35 by midday and ended with a loss of 0.33%. Silver fell to $28.727 in Asia before it rallied to as high as $29.285 in New York and then also fell back off in late trade, but it still ended with a gain of 0.97%.
Euro gold remained at about €992, platinum gained $6.75 to $1839.50, and copper gained over 4 cents to a new all-time high at about $4.59.
Gold and silver equities saw slight gains in the first hour of trade, but they then fell back off a bit midmorning and ended with modest losses.
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | Jan | 36K | 148K | 121K |
Unemployment Rate | Jan | 9.0% | 9.5% | 9.4% |
Average Workweek | Jan | 34.2 | 34.3 | 34.3 |
Hourly Earnings | Jan | 0.4% | 0.2% | 0.1% |
The BLS net birth/death adjustment subtracted 339,000 jobs from January’s payrolls. Private payrolls rose 50,000.
All of this week’s other economic reports:
Next week’s economic highlights include Consumer Credit on Monday, Initial Jobless Claims, Wholesale Inventories, and the Treasury Budget on Thursday, and the Trade Balance and Michigan Sentiment on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on rumors that Mubarak will resign soon in an effort to bring stability back to Egypt.
The U.S. dollar index rose and treasuries fell as yields moved higher on worries over inflation after today’s higher than expected Hourly Earnings reading added to elevated inflation readings seen in other reports recently.
The Dow, Nasdaq, and S&P traded mostly slightly lower on today’s disappointing jobs report, but some found the drop in the Unemployment Rate encouraging and all three indices were able to end with slight gains.
Among the big names making news in the market Friday were Tyson Foods, Aetna, JPMorgan, and Bank of America.
GATA Posts:
Cheviot Sound Money Conference presentations on video
James Turk: The real reason for rising commodity prices
Senate votes to repeal 1099 provision
The Statistics:
Activity from: 2/03/2011
Gold Warehouse Stocks: | 11,383,636 | +5,100 |
Silver Warehouse Stocks: | 102,511,182 | -415,538 |
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 | 1229.277 | 39,522,499 | US$53,532m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.34 | 3,901,253 | US$5,254m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 134.41 | 4,321,452 | US$5,819m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,804 | US$616m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 50.36 | 1,619,256 | US$2,156m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,961 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.124 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 110.84 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,370.22: -30.38 change from yesterday’s data.
The Miners:
Banro’s (BAA) private placement and Silvermex’s (SLX.TO) new General Manager were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Claude | CGR+12.89% $2.54 |
2. Timberline | TLR +8.91% $1.10 |
3. Kimber | KBX +6.06% $1.40 |
LOSERS
1. US Gold | UXG -3.62% $6.92 |
2. Banro | BAA -3.21% $3.32 |
3. Buenaventura | BVN-2.38% $43.91 |
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:
Gossan Receives Initial Dividend From The Claims Network Inc. - More
- February 04, 2011 | Item | ShareThis
Explor Eastford Lake Drill Program Update - More
- February 04, 2011 | Item | ShareThis
Beaufield Reports Assays From First Four Holes From Tortigny - More
- February 04, 2011 | Item | ShareThis
North Atlantic Resources Ltd. Announces New Lankafla Permit and 10,000 Metres of Drilling 10 Kilometres Southeast of Sadiola Hill Mine - More
- February 04, 2011 | Item | ShareThis
Antioquia Gold Closes Previously Announced $7.8 Million Non-Brokered Private Placement - More
- February 04, 2011 | Item | ShareThis
Northquest Ltd. Announces Grant of Stock Options - More
- February 04, 2011 | Item | ShareThis
SRA Updates Proposed Equity Financing and Property Status - More
- February 04, 2011 | Item | ShareThis
Foundation Resources Appoints New Director - More
- February 04, 2011 | Item | ShareThis
Riverside Resources Announces Private Placement - More
- February 04, 2011 | Item | ShareThis
Silvermex Continues to Build Quality Management Team - "Silvermex Resources Inc. (TSX:SLX - News) ("Silvermex" or the "Company") is pleased to announce it has hired Mr. Clyde Peppin to head its Mexican operations as General Manager for La Guitarra Operations. The Company continues to expand its management and project teams with experienced industry professionals focused on creating shareholder value." More
- February 04, 2011 | Item | ShareThis
Prodigy Gold Incorporated: Magino Mine Gold Project Update, Resource Estimate and PEA Timeline - More
- February 04, 2011 | Item | ShareThis
Frontline Gold Corporation Stewart Gold Camp Property Expansion Approved - More
- February 04, 2011 | Item | ShareThis
First Gold: Blue Note Mobilizes Drill Rig at Croinor Gold Project - More
- February 04, 2011 | Item | ShareThis
Cerro Resources Responds to Price Query - More
- February 04, 2011 | Item | ShareThis
Vior Announces Agreement in Principle With Aurvista Gold - More
- February 04, 2011 | Item | ShareThis
Newmont to Acquire Fronteer and Its Long Canyon Project Located Adjacent to Columbus Gold's Summit Gold Project, Nevada - More
- February 04, 2011 | Item | ShareThis
Luiri Gold-Market Update on Zambia Tenure and Licences - More
- February 04, 2011 | Item | ShareThis
Rainy River and Northern Superior Announce Final Phase 1 Results and Commencement of Winter Diamond Drilling at the Ti-Pa-Haa-Kaa-Ning ("TPK") Project - More
- February 04, 2011 | Item | ShareThis
Woulfe Mining to Drill Investigation Hole at Muguk Gold Deposit - More
- February 04, 2011 | Item | ShareThis
AM Gold and Capella Extend Letter of Intent to Combine - More
- February 04, 2011 | Item | ShareThis
Sierra Resource Group Acquires Financing Commitment to Start the Permitting Process at its Mine Site - More
- February 04, 2011 | Item | ShareThis
Queenston Plans $25 Million for 2011 Exploration in Kirkland Lake - More
- February 04, 2011 | Item | ShareThis
Banro Announces C$56,875,000 Private Placement - "Banro Corporation ("Banro" or the "Company") (AMEX:BAA - News)(TSX:BAA - News) is pleased to announce that it has entered into an agreement with a syndicate of investment dealers, which have agreed to sell on behalf of the Company on an underwritten private placement basis 17,500,000 special warrants of the Company (the "Special Warrants") at a price of C$3.25 per Special Warrant for aggregate gross proceeds of C$56,875,000 (the "Offering")." More
- February 04, 2011 | Item | ShareThis
Special report - Why South African mining's in decline - "South Africa has the world's largest gold reserves and 90 percent of its platinum, but the days when its mining houses ruled the roost are fading. While commodity prices have boomed over the past decade, mining investment in the world's fifth-biggest mining economy has stagnated and the sector is shrinking." More
- February 04, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 4 February, 2011 | |
