-- Posted 17 March, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1404.10 | +$8.10 |
Silver | $34.26 | -$0.16 |
XAU | 202.04 | +1.24% |
HUI | 526.35 | +0.69% |
GDM | 1544.42 | +0.80% |
JSE Gold | 2583.88 | -50.16 |
USD | 75.99 | -0.69 |
Euro | 140.18 | +1.01 |
Yen | 126.62 | -1.35 |
Oil | $101.42 | +$3.44 |
10-Year | 3.248% | +0.036 |
T-Bond | 123.50 | -0.5625 |
Dow | 11774.59 | +1.39% |
Nasdaq | 2636.05 | +0.73% |
S&P | 1273.72 | +1.34% |
The Metals:
Gold fell almost $10 to $1386.44 in Asia, but it then rallied back higher in London and New York and ended near its late morning high of $1404.90 with a gain of 0.58%. Silver fell over 2% to $33.67 in Asia before it also rallied back higher and saw a decent gain at $34.635 by late morning in New York, but it then fell back off in the last couple of hours of trade and ended with a loss of 0.46%.
Euro gold fell to about €1002, platinum gained $10 to $1702.00, and copper climbed 15 cents to about $4.34.
Gold and silver equities rose about 1% in the first hour of trade and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 3/12 | 385K | 386K | 401K |
CPI | Feb | 0.5% | 0.4% | 0.4% |
Core CPI | Feb | 0.2% | 0.1% | 0.2% |
Industrial Production | Feb | -0.1% | 0.6% | 0.3% |
Capacity Utilization | Feb | 76.3% | 76.5% | 76.4% |
Leading Indicators | Feb | 0.8% | 1.0% | 0.1% |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed back over $100 a barrel on geopolitical worries over Libya and Bahrain.
The U.S. dollar index fell as the euro rose after Spain successfully sold 4.1 billion euros of government bonds.
Treasuries fell as the Dow, Nasdaq, and S&P rose on decent economic news.
Among the big names making news in the market today were Groupon, FedEx, Fidelity, Pfizer, and BofA.
GATA Posts:
Gene Arensberg: Commercial shorting less aggressive than expected
Alasdair Macleod: How precious metals will replace fiat money
The Statistics:
Activity from: 3/16/2011
Gold Warehouse Stocks: | 11,026,018 | +19,021 |
Silver Warehouse Stocks: | 103,962,636 | +2,053,402 |
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 | 39,137,254 | US$54,927m |
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$5,247m |
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$5,525m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,585 | US$641m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 48.40 | 1,556,106 | US$2,182m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,959 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.55 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 122.97: +0.45 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,945.21: +37.95 change from yesterday’s data.
The Miners:
Entree’s (EGI) budget, Timmins Gold’s (TMM.V) and Gammon Gold’s (GRS) battle for Capital Gold, United Mining Group’s (UMG.TO) exploration program, Great Panther’s (GPL) board addition, and ECU Silver’s (ECU.TO) mine development were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Claude | CGR +11.71% $2.48 |
2. Northern Dynasty | NAK +6.76% $14.37 |
3. DRDGOLD | DROOY +6.26% $4.75 |
LOSERS
1. Solitario | XPL -6.13% $3.52 |
2. Coeur | CDE-3.24% $29.59 |
3. Metalline | MMG-2.91% $1.00 |
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:
Victoria Gold Corp. Selected for Global X S&P/TSX Venture 30 Canada ETF - More
- March 17, 2011 | Item | ShareThis
United Mining Group Announces US$4.3 Million Exploration Program at Crescent Silver Mine Project - "United Mining Group, Inc. ("UMG" or the "Company") (TSX:UMG - News)(Pinksheets:UMGZF - News)(Frankfurt:UM8 - News) is pleased to announce a US$4.3 million Phase I exploration program at its intermediate-advanced stage Crescent Silver Mine project, located in Silver Valley Idaho, in the Coeur d'Alene Mining District." More
- March 17, 2011 | Item | ShareThis
LIM Files Technical Report on its DSO Iron Ore Projects in Labrador and Quebec - More
- March 17, 2011 | Item | ShareThis
Emerick Options Yukon Claims - More
- March 17, 2011 | Item | ShareThis
Sienna Gold Inc. Intersects 135.5 Meters of 0.254 g/ton Gold and 47.08 g/ton Silver; Callanquitas Drill Program Extended - More
- March 17, 2011 | Item | ShareThis
Cascadero Copper Corporation Closes 400,000 Unit Non-Brokered Private Placement - More
- March 17, 2011 | Item | ShareThis
Cerro Resources NL: Final TSX Venture Exchange Acceptance of Namiquipa Acquisition and Filing of Technical Report - More
- March 17, 2011 | Item | ShareThis
Levon Discovers High Grade Contact Replacement Style Mineralization in Josefina Zone, Cordero Project Mexico, 50 Metres Grading 97 g/t Silver, 0.30 g/t Gold - More
- March 17, 2011 | Item | ShareThis
Valley High Ventures: High Grade Contact Replacement Style Mineralization Discovered in Josefina Zone, Cordero Project Mexico 50 Metres Grading 97 g/t Silver - More
- March 17, 2011 | Item | ShareThis
Gold Canyon Mails Proxy Materials for Upcoming Annual General Meeting; Proposes Changes to the Board of Directors - More
- March 17, 2011 | Item | ShareThis
Cadillac Extends Thierry Mineralization Along Western Strike - More
- March 17, 2011 | Item | ShareThis
South American Gold Appoints Dr. Stewart D. Redwood to Advisory Board - More
- March 17, 2011 | Item | ShareThis
AXMIN Files NI 43-101 Technical Report Passendro Gold Project Revalidated Feasibility Study Report and AXMIN Closes Kofi Sale to Avion Gold Corporation - More
- March 17, 2011 | Item | ShareThis
AM Gold Inc.: Announces Red Mountain Exploration Program - More
- March 17, 2011 | Item | ShareThis
Laurion Engages an Independent Consultant for Corporate Communications - More
- March 17, 2011 | Item | ShareThis
Globex Mining Enterprises Inc.: Gold Zone Discovered Immediately Beside Globex Property - More
- March 17, 2011 | Item | ShareThis
Soltoro Announces Acceleration of Warrant Expiry Date to April 19, 2011 & Appoints New Chief Financial Officer - More
- March 17, 2011 | Item | ShareThis
Bridgeport Ventures Inc. Announces Assay Results for Rosario, Chile - More
- March 17, 2011 | Item | ShareThis
Otish Energy Announces Completion of Phase I on Purini Gold Project - More
- March 17, 2011 | Item | ShareThis
Compass Gold Exploration Update Strengthens Phase II Work Program - More
- March 17, 2011 | Item | ShareThis
AXMIN Inc.: Passendro Exploration Program Targets Pit Extensions and Further Resource Development of the Bambari Greenstone Belt - More
- March 17, 2011 | Item | ShareThis
Drilling Continues to Expand Near Surface and at Depth Gold Mineralization on Edgewater's Corcoesto Gold Project, Spain - More
- March 17, 2011 | Item | ShareThis
Gold Standard Ventures Corp.: New Director and Advisors Appointed - More
- March 17, 2011 | Item | ShareThis
Cartier Commences 4 000 Meter Drill Program on Dollier Property Main Gold Zone - More
- March 17, 2011 | Item | ShareThis
MAX resumes drilling at Table Top gold project in Nevada, immediately south of the Newmont/Fronteer Sandman gold project - More
- March 17, 2011 | Item | ShareThis
President and Chairman of the Monnis Group of Companies Joins Prophecy's Board of Directors - More
- March 17, 2011 | Item | ShareThis
Cap-Ex Appoints Brett Matich as President and CEO - More
- March 17, 2011 | Item | ShareThis
Nemaska Exploration Plans to Transfer Its Non Lithium Related Assets to a Subsidiary and Nominates Yves Caron as Vice-President Exploration - More
- March 17, 2011 | Item | ShareThis
Belmont Completes 8-Hole Drill Program on Lumby/Bufo Property - More
- March 17, 2011 | Item | ShareThis
Copper Mountain Project Unaffected by Japan Earthquake - More
- March 17, 2011 | Item | ShareThis
Spanish Mountain Gold and Williams Lake Indian Band Announce Signing of Protocol Agreement for Spanish Mountain Project - More
- March 17, 2011 | Item | ShareThis
Minera Andes Announces Proposed Spin-Out of Los Azules Copper Project - More
- March 17, 2011 | Item | ShareThis
Sunridge Gold Extends Depth of the Primary Copper-Zinc-Gold Mineralization at Debarwa Deposit, Asmara Project, Eritrea - More
- March 17, 2011 | Item | ShareThis
Puma Drilled 1.2% Cu Over 75.5 Meters at Turgeon Copper Project in New Brunswick - More
- March 17, 2011 | Item | ShareThis
Nemaska Exploration Confirms the Closing with Tianqi Group and Filing on SEDAR of Its Preliminary Economic Assessment on Whabouchi Project - More
- March 17, 2011 | Item | ShareThis
Ivernia Announces Regular Transportation Operations from the Magellan Mine will be Resuming - More
- March 17, 2011 | Item | ShareThis
INV Metals Expands Okohongo Deposit, Kaoko Property, Namibia - More
- March 17, 2011 | Item | ShareThis
Canadian Zinc Reports Financial Results for Fiscal 2010 - More
- March 17, 2011 | Item | ShareThis
VMS Reports 50.08 Metres of 6.85% Copper in Hole RLD030 at Reed Lake JV, Indicating Continuity of Mineralization Between the Known Mineralized Body and Step Out - More
- March 17, 2011 | Item | ShareThis
Great Panther Silver Adds Mining/Metallurgical Expertise to Board - "Mr. Major graduated from McGill University with a degree in Metallurgical Engineering in 1976. He brings to Great Panther, more than 35 years' of experience in the mining industry, including mine operations and management with Sherritt Gordon Mines and Newmont Mining. In 1987, Ken joined Kilborn Engineering in Vancouver as a Senior Process Engineer and Project Manager. In 1994, Ken became an Owner/Partner in the start of Rescan Engineering Ltd., an engineering company providing feasibility study and detailed engineering services to the mining industry. Rescan Engineering was subsequently acquired by Hatch Engineers and became the global hub for the development of mining and mineral processing engineering opportunities. In 2006, Ken left Hatch to become an independent process consultant, KWM Consulting Inc., and has continued to provide services to the mining community, including major companies such as Newmont Mining, Goldcorp and Agnico-Eagle." More
- March 17, 2011 | Item | ShareThis
ECU Silver Continues to Develop the Terneras West Mine - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to announce that it has encountered new high grade mineralization in the Terneras West Mine through further development along the vein structure. The Terneras West Mine is located on the main Velardena Property." More
- March 17, 2011 | Item | ShareThis
EntrÉE Gold Announces $7 Million Budget for Joint Venture Work Programs, Lookout Hill, Mongolia - "Entrée Gold Inc. (TSX:ETG.to - News) (NYSE AMEX: EGI) (Frankfurt:EKA.f - News) ("Entrée" or the "Company") announces that the Entree and Oyu Tolgoi LLC joint venture ("Entree-OTLLC Joint Venture") has budgeted US$7 million for exploration and development work on the joint venture ground ("Entree-OTLLC JV Ground") within the Lookout Hill Property, Mongolia." More
- March 17, 2011 | Item | ShareThis
Capital Gold Reaffirms Support for Gammon Transaction With an Increased Cash Component - "Capital Gold Corporation (Amex:CGC - News) acknowledges that, on March 15, 2011, Timmins Gold Corp. ("Timmins") added $0.25 in cash to its unsolicited offer for Capital Gold Corp. ("Capital Gold"). Also on March 15, 2011, Gammon Gold Inc. ("Gammon") announced that it was proposing to amend its merger agreement with Capital Gold to increase the cash component of the merger consideration to be paid to Capital Gold's stockholders by $0.30, from $0.79 to $1.09. The Board of Directors of Capital Gold has considered both bids and unanimously reaffirms its support of the merger with Gammon, as increased." More
- March 17, 2011 | Item | ShareThis
Timmins is the Better Deal - Don't Let Gammon and the Capital Gold Board Postpone or Adjourn the Capital Gold Shareholders Meeting - "Timmins Gold Corp. (TSX-V:TMM - News) On March 15, 2011, Timmins announced that it had delivered an increased offer to the Capital Gold Board of Directors for the merger of Timmins Gold and Capital Gold. Under the increased offer, Capital Gold shareholders will now receive 2.27 Timmins Gold common shares and US$0.25 in cash for each share of Capital Gold common stock." More
- March 17, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 17 March, 2011 | |
