-- Posted 25 February, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $1409.10 | -$6.00 | +1.53% |
Silver | $32.99 | -$0.20 | +1.85% |
XAU | 212.21 | +1.81% | -0.11% |
HUI | 555.12 | +2.31% | +0.20% |
GDM | 1635.68 | +2.09% | -0.16% |
JSE Gold | 2737.31 | -39.73 | -0.55% |
USD | 77.23 | +0.13 | -0.54% |
Euro | 137.52 | -0.51 | +0.47% |
Yen | 122.47 | +0.36 | +1.74% |
Oil | $97.88 | +$0.60 | +13.55% |
10-Year | 3.425% | -0.013 | -4.57% |
Bond | 121.71875 | +0.1875 | +2.10% |
Dow | 12130.45 | +0.51% | -2.10% |
Nasdaq | 2781.05 | +1.58% | -1.87% |
S&P | 1319.88 | +1.06% | -1.72% |
The Metals:
Gold fell as much as $22.20 to $1392.90 in after hours access trade yesterday before it climbed back to $1409.89 in Asia and then dropped back to $1399.20 in early London trade, but it then rallied back higher for most of the rest of the day and ended with a loss of just 0.42%. Silver dropped $1.455 to $31.735 before it rebounded to $33.138 and fell back to $32.518, but it then climbed back higher in New York and ended with a loss of just 0.6%.
Euro gold remained at about €1025, platinum gained $20.50 to $1801.25, and copper gained 11 cents to about $4.44.
Gold and silver equities rose roughly 2% at the open and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
GDP | Q4 | 2.8% | 3.3% | 3.2% |
GDP Deflator | Q4 | 0.4% | 0.3% | 0.3% |
Michigan Sentiment | Feb | 77.5 | 75.1 | 75.1 |
All of this week’s other economic reports:
Next week’s economic highlights include Personal Income and Spending, Core PCE Prices, Chicago PMI, and Pending Home Sales on Monday, Construction Spending and the ISM Index on Tuesday, ADP Employment and the fed’s Beige Book on Wednesday, Initial Jobless Claims, Productivity, Unit Labor Costs, and ISM Services on Thursday, and February’s jobs data and Factory Orders on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on disrupted exports from Libya, but a pledge from Saudi Arabia to raise its output seemed to limit any major gains.
The U.S. dollar index found slight gains on Saudi Arabia’s pledge that eased geopolitical worries.
Treasuries rose on the weaker than expected GDP report, but gains were limited by the better than expected Michigan Sentiment report.
The Dow, Nasdaq, and S&P rose on relief over stabilizing oil prices.
Among the big names making news in the market Friday were J.C. Penney, Fannie Mae and Freddie Mac, Boeing, and AIG.
GATA Posts:
Turk, Vieira to speak at CMRE spring dinner in New York
Silver whistleblower Maguire writes trading letter
Ted Butler: Speak up and be heard by the CFTC one more time
The Statistics:
Activity from: 2/24/2011
Gold Warehouse Stocks: | 11,076,579 | -3,036 |
Silver Warehouse Stocks: | 102,928,999 | +598,486 |
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 | 1211.568 | 38,953,127 | US$54,616m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 116.25 | 3,737,445 | US$5,255m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 122.27 | 3,930,994 | US$5,522m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,692 | US$643m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.50 | 1,591,565 | US$2,243m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,960 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 6.675 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 116.34 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,666.35: +91.12 change from yesterday’s data.
The Miners:
Midway’s (MDW) drill results and Silver Quest’s (SQI.V) new board member were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Midway | MDW+22.14% $1.71 |
2. Minefinders | MFN+12.09%$11.59 |
3. Minco Gold | MGH +8.06% $2.28 |
LOSERS
1. Northern Dynasty | NAK -8.00% $17.82 |
2. Golden Star | GSS -6.59% $3.12 |
3. Tanzanian Royalty | TRE -2.56% $6.85 |
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:
New Dimension Grants Stock Options - More
- February 25, 2011 | Item | ShareThis
Consolidated Thompson Iron Mines Limited Shareholders Overwhelmingly Approve Arrangement With Cliffs Natural Resources Inc. - More
- February 25, 2011 | Item | ShareThis
Midway Gold Adds 1.8 km of Potential Strike Length at Spring Valley Project, Nevada - "Midway Gold Corp. (the “Company”) reports that exploration drilling conducted in the fourth quarter of 2010 has resulted in an extension of the mineralized strike length by about 1.8 km to the south-southwest of the previously known gold resource at Spring Valley. The step out in reverse circulation drill hole SV10-499 intersected 12.2 m of 1.2 gram per tonne (g/t) Au including 1.5 m of 7.8 g/t Au mineralization, showing strong, relatively shallow Spring Valley-type mineralization in similar structures and host rocks to the existing gold resource. The drill hole is south of the property acquired late last year and described in the press release dated December 8, 2010 (see illustration below). The gold resource remains open to the northwest, to the south, and to depth." More
- February 25, 2011 | Item | ShareThis
General Moly Appoints Steven Xiao to Board of Directors - More
- February 25, 2011 | Item | ShareThis
Lucky Boy Silver Corp. Receives Silver Strike and Silver Summit Report - More
- February 25, 2011 | Item | ShareThis
Silver Quest Appoints New Board Member - "Mr. Montpellier is a director and officer of a number of mineral exploration and development companies, including Exeter Resource Corporation, has been practicing law in Vancouver, British Columbia since 1981 and since 1983 has worked exclusively in the capital markets with exploration and mining companies." More
- February 25, 2011 | Item | ShareThis
Huldra Silver Inc. Announces Completion of Acquisition of Four District Lots in Treasure Mountain - More
- February 25, 2011 | Item | ShareThis
GTA Resources and Mining Inc. Announces Staking of Additional Claims - More
- February 25, 2011 | Item | ShareThis
St. Elias Mines Ltd. -- Final Results for 3D Information for the Titan 24 Geophysical Survey Received From Tesoro Gold Project in Peru - More
- February 25, 2011 | Item | ShareThis
Bullion Monarch Announces Best Quarter in Company History - More
- February 25, 2011 | Item | ShareThis
White Canyon Uranium Limited: 107,000 Pounds of U308 Sold at an Average Price of $69.46 Per Pound - More
- February 25, 2011 | Item | ShareThis
Drilling at Gossan Hill Intersects 9.73 g/mT Gold over 5.75 Meters - More
- February 25, 2011 | Item | ShareThis
Canarc Closes $300,000 Convertible Debenture - More
- February 25, 2011 | Item | ShareThis
Robex Closes Additional Tranche of $768,960 for a Total Private Placement of $3,000,000 - More
- February 25, 2011 | Item | ShareThis
Gold Wheaton Advises Holders of Warrants Issued March 5, 2009 of Approaching Warrant Expiry and Election Deadline - More
- February 25, 2011 | Item | ShareThis
Locked Cycle Tests Confirm Excellent Copper Metallurgy for Far West's Santo Domingo Project - More
- February 25, 2011 | Item | ShareThis
Inspiration Reaffirms Commitment to Proceed With Requisition of A Meeting of Shareholders - More
- February 25, 2011 | Item | ShareThis
Cerro Resources NL Announces A$17.8M Placement - More
- February 25, 2011 | Item | ShareThis
Tiex - Commences Airborne Electromagnetic and Magnetic Survey Over Cariboo Goldfields Property, Central British Columbia, Canada - More
- February 25, 2011 | Item | ShareThis
Channel Resources Appoints Stephen Rea to Board of Directors - More
- February 25, 2011 | Item | ShareThis
Metals Creek Resources Corp. Announces Commencement of Phase I Drill Program on Its Ogden Gold Property - More
- February 25, 2011 | Item | ShareThis
Rogue Resources-Corporate Update - More
- February 25, 2011 | Item | ShareThis
Moly Mines Reports Spinifex Ridge Iron Ore Shipments Recommence After Cyclone - More
- February 25, 2011 | Item | ShareThis
Advanced Explorations Provides Update on its Western Exploration Program - More
- February 25, 2011 | Item | ShareThis
Ivernia Reports Production Results for Fourth Quarter of 2010 - More
- February 25, 2011 | Item | ShareThis
Orvana Reports Measured and Indicated Resources Increase of 50% for Pre-Feasibility Study at Copperwood, Michigan, USA - More
- February 25, 2011 | Item | ShareThis
Western Uranium Discloses Appointment of Investor Relations Consultant - More
- February 25, 2011 | Item | ShareThis
USCorp Retains Constellation Asset Advisors, Inc. for Strategic Planning and Shareholder Relations - More
- February 25, 2011 | Item | ShareThis
Goldrush Grants Stock Options - More
- February 25, 2011 | Item | ShareThis
Spartan Gold Ltd. Enters Into Investment Banking Agreement With Century Pacific Securities, Inc. - More
- February 25, 2011 | Item | ShareThis
American Manganese to Research Potential to Produce Product for the Battery Industry and Project Review - More
- February 25, 2011 | Item | ShareThis
Medusa Mining Limited: Investor Presentation - More
- February 25, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 25 February, 2011 | |
