-- Posted 10 February, 2011 | | Discuss This Article - Comments:
Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1362.50 | -$1.90 |
Silver | $30.12 | -$0.16 |
XAU | 204.49 | -0.87% |
HUI | 526.41 | -0.83% |
GDM | 1554.30 | -0.91% |
JSE Gold | 2600.79 | -55.79 |
USD | 78.22 | +0.62 |
Euro | 135.95 | -1.36 |
Yen | 120.10 | -1.32 |
Oil | $86.73 | +$0.02 |
10-Year | 3.708% | +0.064 |
T-Bond | 117.50 | -0.8125 |
Dow | 12229.29 | -0.09% |
Nasdaq | 2790.45 | +0.05% |
S&P | 1321.87 | +0.07% |
The Metals:
Gold fell as much as $13.20 to $1351.20 by about 8:30AM EST before it rallied to see a $1.60 gain at as high as $1366.00 three hours later, but it then fell back off a bit in the last couple of hours of trade and ended with a loss of 0.14%. Silver fell $0.618 to $29.662 before it rallied back to almost unchanged at as high as $30.278 by late morning in New York, but it also fell back off a bit in the last couple of hours of trade and ended with a loss of 0.53%.
Euro gold climbed to over €1000, platinum lost $26.75 to $1824.25, and copper rose a couple of cents to about $4.54.
Gold and silver equities fell over 2% in the first half hour of trade before they rallied back to almost unchanged by midday, but they then fell back off in afternoon trade and ended with almost 1% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 2/05 | 383K | 410K | 419K |
Wholesale Inventories | Dec | 1.0% | 0.7% | 0.0% |
Treasury Budget | Jan | -$49.8B | -$59.5B | -$42.6B |
Ron Paul: QE2 Is a "Total Failure" and Bernanke Is Delusional About Inflation Yahoo
Fed's Warsh Resigns; Bernanke Adviser Questioned Stimulus Bloomberg
U.S. Foreclosure Filings Decline for Fourth Consecutive Month Bloomberg
Average rate on 30-year mortgage hits 5.05 pct. Yahoo
Bernanke Making Sure Fed Governors Remind Congress Deficit Bigger Than QE2 Bloomberg
Tomorrow at 8:30AM EST brings the Trade Balance for December expected at -$40.4 billion and at 9:55 is Michigan Sentiment for February expected at 75.5.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil traded mixed and ended barely higher on conflicting reports from Egypt as to whether or not Egypt's president will step down. Mubarak spoke after the oil market closed and while he reiterated that he will not run for re-election in September, he did not completely step down as most protestors are calling for. He did however say that he will step back and give responsibility of day-to-day activities to his Vice President.
The U.S. dollar index rose as the euro fell following a poor Portuguese bond auction that reignited sovereign debt worries.
Treasuries extended lower after today’s $16 billion 30-year note auction sold at a high yield of 4.75% with a bid to cover of 2.51.
The Dow, Nasdaq, and S&P fell on poor earnings reports for most of the day, but they then turned higher in late trade and ended mixed as traders listened to Mubarak speak as the markets were closing.
Among the big names making news in the market today were Verizon, Facebook, Google, Twitter, Rio Tinto, Sprint, Wells Fargo, PepsiCo, and Bank of America.
GATA Posts:
Dutch govt. orders pension fund to sell gold, Zero Hedge says
Warsh, who confirmed gold swaps, to leave Fed next month
Ted Butler: Silver soon may be the rarest earth
The Statistics:
Activity from: 2/09/2011
Gold Warehouse Stocks: | 11,338,490 | -62,376 |
Silver Warehouse Stocks: | 102,846,772 | -383,690 |
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 | 1226.436 | 39,431,143 | US$53,354m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 115.58 | 3,716,078 | US$5,070m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 123.33 | 3,965,231 | US$5,410m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,772 | US$623m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 50.00 | 1,607,412 | US$2,194m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,961 | US$7m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 111.26: +0.42 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,370.22 - No change from yesterday’s data.
The Miners:
IMAGOLD’s (IAG) 2010 year-end mineral reserve and resource statement, New Gold’s (NGD) updated reserves and resources, and Timmins’ (TMM.V) response to Capital Gold’s (CGC) rejection of Timmins Gold's previously announced proposal for a merger of equals were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Reserve | GRZ +3.45% $1.80 |
2. Vista Gold | VGZ +3.28% $2.83 |
3. Northern Dynasty | NAK +3.12% $18.19 |
LOSERS
1. Mines MGMT | MGN -5.32% $3.56 |
2. Buenaventura | BVN-4.02% $40.39 |
3. Cardero | CDY -3.83% $2.01 |
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:
First Mexican Increases Land Package to 7,507 Hectares - More
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Castle Resources Adopts Shareholder Rights Plan - More
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Sage Drills 28.89 g/t (0.84oz/t) Gold Over 1.3 Metres at Clavos Mine in Timmins - More
- February 10, 2011 | Item | ShareThisShareThis
Luna Gold Files Ni 43-101 Technical Report for Initial Resource Estimate at the Cachoeira Gold Deposit, Brazil - More
- February 10, 2011 | Item | ShareThisShareThis
Great Western Minerals Group Renews Contract With Investor Relations Firm - More
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Goldcliff Develops Whipsaw Target at Tulameen - More
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Kent to Commence Alexander River Diamond Drill Program - More
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Zazu Completes Private Placement of C$7,974,252 - More
- February 10, 2011 | Item | ShareThisShareThis
Alix Appoints Hawley to Board, Williams to Advisory Board - More
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Dalradian Commences Environmental Baseline Studies at Curraghinalt - More
- February 10, 2011 | Item | ShareThisShareThis
Golden Peaks Resources Ltd. Drilling Underway on Tanoyan Gold Project, Indonesia,to Test High-Grade Intercepts and Expand Maiden Resource - More
- February 10, 2011 | Item | ShareThisShareThis
Ateba Expands Property Holdings on the Larder-Cadillac Break and Initiates a 10,000 Metre Drill Program - More
- February 10, 2011 | Item | ShareThisShareThis
Platinum Group Metals Options Canadian Platinum Target - More
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Typhoon Hires First Canadian Capital Corp. as a Consultant - More
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International PBX Ventures Ltd.: Airborne Geophysical Survey Confirms Presence of Porphyry Systems at Flagship Copaquire Property, Chile - More
- February 10, 2011 | Item | ShareThisShareThis
Energy Fuels Acquires Calliham Uranium/Vanadium Mine in Sage Plain Area of Utah - More
- February 10, 2011 | Item | ShareThisShareThis
Benton Options Bark Lake Project to Platinum Group Metals - More
- February 10, 2011 | Item | ShareThisShareThis
Matamec Successfully Completes its 3,300m Definition Drilling Campaign on its Kipawa HREO-Y-Zr Deposit - More
- February 10, 2011 | Item | ShareThisShareThis
Six First-Priority Induced Polarization Conductors Outlined in the Gold "Conductor" Area on DIOS AU33 Projet-Map Published - More
- February 10, 2011 | Item | ShareThisShareThis
Shield Gold Identifies Priority Exploration Targets - More
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Williams Creek Explorations Limited Announces Commencement of Winter Drill Program at ATW Property - More
- February 10, 2011 | Item | ShareThisShareThis
Canasil Starts 1,700 Line-Km ZTEM Airborne Geophysical Surveys on Three Silver and Silver/Gold Projects in Durango State, Mexico - More
- February 10, 2011 | Item | ShareThisShareThis
Red Metal Resources Announces Results from Mining Program at the Mateo Project in III Region Chile - More
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Calais Resources Announces the Completion of Financial Statement Audits - More
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Halo Announces Drilling Has Commenced at Sherridon Project, Manitoba - More
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Skyline Gold Management Changes Reflect New Strategies - More
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Nortec Minerals Identifies Mineral Property Areas With Porphyry Copper-Gold-Molybdenum Potential for Acquisition, Ecuador - More
- February 10, 2011 | Item | ShareThisShareThis
Gold Standard Reports Additional Detailed Gravity Data on Railroad Property - More
- February 10, 2011 | Item | ShareThisShareThis
AndeanGold Announces $3.0 Million Non-Brokered Private Placement - More
- February 10, 2011 | Item | ShareThisShareThis
Crown Gold Engages Investor Relations Group and Announces Grants of Options - More
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Barkerville Intercepts 16.7 Meters Grading 15.9 g/T Gold in Replacement Mineralization on Cow Mountain and Hits 32.6 Meters Grading 10.8 g/T Gold 190m NW - More
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Avala Resources Continues to Expand the Korkan-Bigar Target Area with Wide-Spaced Diamond Drilling: Intersects 21 Meters at 1.68g/t, 24 Meters at 1.56g/t - More
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High Desert Gold Corporation to Initiate Drill Program on the San Antonio Gold Property in Sonora, Mexico - More
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Amarc Announces Results From Phase 2 Drill Program at Newton - More
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NQ Exploration Sells Three Properties to CHS Resources Inc. - More
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Steele Resources Corporation Announces Project Funding - More
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Energizer Resources Provides Update on the Development of Its Green Giant Vanadium Project - More
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Rodinia Lithium Inc. Commences Advanced Development of Its Salar de Diablillos Lithium-Potash Project - More
- February 10, 2011 | Item | ShareThisShareThis
Aura Minerals Releases Additional Assay Results for the Copper-Gold-Silver Aranzazu Mine in Mexico - More
- February 10, 2011 | Item | ShareThisShareThis
Earth Dragon Resources Provides Additional Assay Results From Ghana Gold Project - More
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Colorado Goldfields Inc. Announces $125,000 Pay Down on Pride of the West Mill Mortgage and Receives One Year Extension - More
- February 10, 2011 | Item | ShareThisShareThis
Bullion Monarch Extends Gold Anomaly at Bom Jesus, Brazil - More
- February 10, 2011 | Item | ShareThisShareThis
Duluth Metals Announces Higher Grade Intercepts With New Twin Metals Drilling Results - More
- February 10, 2011 | Item | ShareThisShareThis
IAMGOLD's Focus on Organic Growth Yields Positive Results: Year-End Gold Reserves Increase by 13%; Niobium Reserves Increase by 34% - "The best return we can generate for our shareholders is to invest in our long-life, low-cost, world-class assets that include the Rosebel and Essakane mines, as well as the Westwood development project that is expected to start production in early 2013," said Steve Letwin, President and CEO of IAMGOLD. "The first step is to ensure that the geological potential to grow is robust, and once again in 2010 we have grown our reserve and resource estimates substantially. The 34% growth in our niobium reserves reinforces our strategy to unlock the value of this long-life asset. This potential for growth combined with our prospects for surfacing value from the Company's undervalued assets, make a compelling growth opportunity." More
- February 10, 2011 | Item | ShareThisShareThis
New Gold Announces Higher El Morro Reserves and Resources - "New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces that Goldcorp Inc. ("Goldcorp"), its 70% joint venture partner in the El Morro project, has updated the reserves and resources for the project as of December 31, 2010." More
- February 10, 2011 | Item | ShareThisShareThis
Torex Continues to Expand Its Morelos Gold Deposits - More
- February 10, 2011 | Item | ShareThisShareThis
Timmins Gold Responds to Capital Gold's Rejection of Merger of Equals Proposal - "Timmins Gold Corp. (TSX-V:TMM - News) ("Timmins Gold") announces that yesterday it sent a letter to the Board of Directors of Capital Gold Corporation (AMEX/TSX: CGC) ("Capital Gold") responding to their rejection of Timmins Gold's previously announced proposal for a merger of equals. Under Timmins Gold's proposal, each share of Capital Gold common stock would be exchanged for 2.27 common shares of Timmins Gold. Based on the average of the respective closing share prices for the last 30 trading days, Timmins Gold's proposal has a value of US$5.55 per Capital Gold share and exceeds the value of the Gammon offer by US$0.64 per Capital Gold share." More
- February 10, 2011 | Item | ShareThisShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 10 February, 2011 | | Discuss This Article - Comments:
