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-- Posted 10 March, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $1412.90 | -$16.00 | Silver | $35.27 | -$0.73 | XAU | 202.92 | -2.81% | HUI | 539.35 | -3.37% | GDM | 1577.36 | -3.47% | JSE Gold | 2614.49 | -93.71 | USD | 77.30 | +0.60 | Euro | 137.87 | -1.19 | Yen | 120.58 | -0.27 | Oil | $102.70 | -$1.68 | 10-Year | 3.393% | -0.076 | T-Bond | 119.4375 | +0.96875 | Dow | 11984.61 | -1.87% | Nasdaq | 2701.02 | -1.84% | S&P | 1295.11 | -1.89% |
The Metals: Gold fell all the way to $1403.20 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 1.12%. Silver fell to as low as $34.658 and ended with a loss of 2.03%. Euro gold fell to €1023, platinum lost $37.50 to $1761, and copper fell slightly to about $4.19. Gold and silver equities fell over 3% by midmorning before they rebounded a bit in early afternoon trade, but they then fell back off in late trade and ended near their earlier lows. The Economy: Report | For | Reading | Expected | Previous | Initial Claims | 3/05 | 397K | 382K | 371K | Trade Balance | Jan | -$46.3B | -$41.5B | -$40.3B | Treasury Budget | Feb | -$222.5B | -$196.0B | -$220.9B |
“The federal government's budget deficit grew by $222.5 billion in February, the largest one-month increase in history. Economists are forecasting the deficit for the year will be the biggest imbalance on record.” Tomorrow at 8:30AM EST brings Retail Sales for February expected at 1.0%. Excluding autos, sales are expected at 0.6%. At 9:55 is Michigan Sentiment for March expected at 76.5 and at 10AM is the Business Inventories report for January expected at 0.8%. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell on worries over slowing energy demand after China reported an unexpected trade deficit. The U.S. dollar index rose as the euro fell after Moody’s downgraded Spain’s debt and the pound fell after the Bank of England kept interest rates on hold. Treasuries added to early gains after today’s $13 billion 30-year note auction drew a high yield of 4.569% with a bid to cover of 3.02. The Dow, Nasdaq, and S&P fell on worries over slowing economic growth and rising geopolitical tensions. Among the big names making news in the market today were GM, Valero, and AOL. The Commentary: “It's been a busy day today with a lot of action and quickly changing markets but here is an afternoon chart of silver. It looks like it was able to stave off the selling and recapture support near $35 which is promising particularly as we are now finally seeing some good upside volume compared to what we have been getting recently.
First order of business for the bulls is to get the price back over $35.50 and keep it there.
If they run and let the sellers get aggressive, today's low near $34.75 needs to hold to prevent a run back down towards $34.40 - $34.30.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ GATA Posts:
Alasdair Macleod: Rising interest rates and precious metals
Mark O'Byrne: Gold and silver are currencies of the free With gold market outlawed, Vietnam bans dollar market The Statistics: Activity from: 3/09/2011 Gold Warehouse Stocks: | 11,098,220 | +21,285 | Silver Warehouse Stocks: | 103,069,486 | +311,808 |
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 | 1217.295 | 39,137,259 | US$55,303m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 116.51 | 3,746,032 | US$5,265m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 122.56 | 3,940,260 | US$5,538m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,622 | US$646m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 48.40 | 1,556,242 | US$2,220m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,960 | US$7m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Total Tonnes in Trust: 121.00: +1.58 change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 10,974.06: +60.74 change from yesterday’s data. The Miners: Agnico-Eagle’s (AEM) fire, Gammon Gold’s (GRS) operations update, SEMAFO’s (SMF.TO) drill results, Aurizon’s (AZK) increase in reserves, and Great Panther’s (GPL) drill results were among the big stories in the gold and silver mining industry making headlines today. WINNER 1. Gold Reserve | GRZ +0.06% $1.731 |
LOSERS 1. Northern Dynasty | NAK -11.60% $14.48 | 2. First Majestic | AG -11.46% $15.91 | 3. Great Panther | GPL -10.43% $4.12 |
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: Columbia Yukon Acquires Additional Properties Near Its "Storie" Property Molybdenum Deposit - More
- March 10, 2011 | Item | ShareThis
Inmet Comments on Hostile Equinox Offer for Lundin - More
- March 10, 2011 | Item | ShareThis
TVI Pacific Inc. and TG World Energy Corp. Announce Completion of Arrangement - More
- March 10, 2011 | Item | ShareThis
Cavan Acquires Option to 3 Silver Mines at Crown King, Arizona - More
- March 10, 2011 | Item | ShareThis
Southern Silver Starts Drilling at Cerro Las Minitas - More
- March 10, 2011 | Item | ShareThis
Ur-Energy Announces Uranium Sales Agreement - More
- March 10, 2011 | Item | ShareThis
Merrex Gold Private Placement - More
- March 10, 2011 | Item | ShareThis
First Mexican Updates Exploration Program in Sonora, Mexico - More
- March 10, 2011 | Item | ShareThis
Cougar Minerals Inc. Announces Non-Brokered Private Placement - More
- March 10, 2011 | Item | ShareThis
First Mexican Gold Corp. Closes Private Placement - More
- March 10, 2011 | Item | ShareThis
Sparton Arranges $1.51 Million Financing; Strategic Investor Acquires Interest in China Vanadium Projects - More
- March 10, 2011 | Item | ShareThis
Crazy Horse Resources Inc.: Preliminary Scoping Study on Taysan Project Indicates a US$734M NPV at 10% (Discounted After Tax) using 3.00 US/lb - More
- March 10, 2011 | Item | ShareThis
Crystallex's Request for Arbitration Registered by the World Bank's ICSID - More
- March 10, 2011 | Item | ShareThis
Nampala, Results Higher Than Expectations: 3.45 g/t Over 25 Meters - More
- March 10, 2011 | Item | ShareThis
Galantas Enters Into a Credit Facility With Kenglo One Limited to Finance Expanded Drilling Program - More
- March 10, 2011 | Item | ShareThis
Mountain Lake Provides Update on Little River Antimony-Gold Project in Southern Newfoundland - More
- March 10, 2011 | Item | ShareThis
Nuinsco Reports First Results from Trenching at Prairie Lake Rare Metals Project - More
- March 10, 2011 | Item | ShareThis
United Mining Group Announces Grant of Options - More
- March 10, 2011 | Item | ShareThis
Edgewater Announces Drill and Trench Results from the Enchi Gold Project, Ghana - More
- March 10, 2011 | Item | ShareThis
Curlew Lake Resources Inc. Announces Drilling Will Commence During the Next Week - More
- March 10, 2011 | Item | ShareThis
Extorre Lists on the NYSE Amex Exchange Under the Symbol "XG" - More
- March 10, 2011 | Item | ShareThis
Decade Resources Announces Final Assay Results from the Red Cliff Gold Property at Stewart, British Columbia - More
- March 10, 2011 | Item | ShareThis
Non-Objection from French Government to Acquisition by Columbus Gold of 1.9M oz. Paul Isnard Gold Project - More
- March 10, 2011 | Item | ShareThis
i-minerals inc.: Feasibility, Permitting and Metallurgical Work Update - More
- March 10, 2011 | Item | ShareThis
Tyhee Expands the Spud and Main Zones at Clan Lake, Yellowknife Gold Project, Nwt Canada - More
- March 10, 2011 | Item | ShareThis
PolyMet Expands Board of Directors - More
- March 10, 2011 | Item | ShareThis
Spanish Mountain Gold Announces Work Programs for 2011: Drilling in Excess of 17,000 Metres Planned - More
- March 10, 2011 | Item | ShareThis
Baie Payne Nickel/Copper Project: Virginia Enters Into Agreement With Anglo American - More
- March 10, 2011 | Item | ShareThis
American Paramount Gold Completes CSAMT Survey: Report Doubles Strike Length to 5 Kilometers, for Capgold Project in Nevada - More
- March 10, 2011 | Item | ShareThis
Cerro Resources NL: Acquisition of Namiquipa Silver Project - More
- March 10, 2011 | Item | ShareThis
Palladon Ventures-CML Update - More
- March 10, 2011 | Item | ShareThis
INV Metals Reports 2010 Results and Provides Exploration Update - More
- March 10, 2011 | Item | ShareThis
Mercer Gold Reports Significant Drill Progress and Continued Results at Guayabales Gold Project in Colombia - More
- March 10, 2011 | Item | ShareThis
Hunter Bay Minerals Plc Announces Appointment of Nico Civelli as Director and VP Finance - More
- March 10, 2011 | Item | ShareThis
Minera Andes Announces Outstanding 2010 Exploration Drill Results at the San Jose Mine - More
- March 10, 2011 | Item | ShareThis
Golden Hope Mines Completes Winter Drilling and Releases Further Drill Results from the 88 Zone - More
- March 10, 2011 | Item | ShareThis
LIM Signs Rail Transportation Agreement With QNS&L - More
- March 10, 2011 | Item | ShareThis
Canamex Appoints New President and CEO, and Announces $750,000 Private Placement and Stock Option Grant - More
- March 10, 2011 | Item | ShareThis
Queenston Reports More Upper Canada Results and Prepares for Initial Resource Estimate - More
- March 10, 2011 | Item | ShareThis
Siga Resources Acquires 100 Percent of Lucky Thirteen Gold Project - More
- March 10, 2011 | Item | ShareThis
Great Panther Silver Expands Silver-Gold Mineralization at San Ignacio Mine Property, Guanajuato - "GREAT PANTHER SILVER LIMITED (TSX:GPR - News)(AMEX:GPL - News) (the "Company") is pleased to announce that initial 2011 diamond drilling at the San Ignacio Mine property, Guanajuato has continued to intersect numerous zones of silver-gold mineralization including the Melladito and Nombre de Dios zones. Accordingly, the Company has awarded a contract for the Phase II drill program to BDW Drilling and has received environmental permits for additional drill sites. The Phase II drilling will consist of approximately 6,700 metres in 18 holes and will continue to test the strike and depth continuity of the mineralization. Applications are being made to permit a third phase of drilling to follow Phase II." More
- March 10, 2011 | Item | ShareThis
Agnico-Eagle reports fire at its kitchen facilities at its Meadowbank mine - "Agnico Eagle Mines Limited reports that its kitchen facilities to support the employee camp at its Meadowbank Mine in Nunavut, Canada sustained extensive damage early today as a result of a fire." More
- March 10, 2011 | Item | ShareThis
Gammon Gold Provides Update on El Cubo Return to Operations - "Gammon Gold Inc. ("Gammon" or the "Company") (TSX:GAM.to - News) and (NYSE:GRS - News) wishes to provide an update on recent activities at the El Cubo mine. As previously announced on February 23, the labour disruption at the El Cubo mine was successfully resolved after a more productive and standardized Collective Agreement was negotiated with the union." More
- March 10, 2011 | Item | ShareThis
SEMAFO Discovers New Gold Zone With 2.27 g/t Au Across 54 Meters - "SEMAFO (TSX:SMF - News) today announced the discovery of the new Yaho gold zone, located 4.5 kilometers southwest of the Fofina zone and 20 kilometers southwest of the Mana Mill. Three Reverse Circulation ("RC") drilling sections were carried out to date across this wide alteration zone with each section returning wide, significant grade intervals such as 2.27 g/t Au across 54 meters (hole MRC10-540 - section 15450N), 2.00 g/t Au across 20 meters (hole MRC10-542 - section 15450N), 1.37 g/t Au across 16 meters (hole MRC10-514 - section 15650N), 4.59 g/t Au (10.73 g/t Au uncut) across 10 meters (hole MRC10-526 - section 15850N), and 1.88 g/t Au across 88 meters (hole MRC10-529 - section 15850N)." More
- March 10, 2011 | Item | ShareThis
Aurizon Reports a 44% Increase in Mineral Reserves for the Casa Berardi Mine - "For the fourth consecutive year, Casa Berardi has renewed or increased mineral reserves." stated David P. Hall, President and CEO, adding "Our $13.4 million exploration program this year will continue to extend and upgrade existing mineral resources. Casa Berardi continues to confirm our initial expectations that it can deliver sustainable, profitable production for many years to come." More
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- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © 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 10 March, 2011 | |
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