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Gold Seeker Closing Report: Gold and Silver End Mixed

By: Chris Mullen, Gold-Seeker.com


-- Posted 11 April, 2011 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1466.70

-$6.00

Silver

$40.63

+$0.04

XAU

222.70

-2.73%

HUI

590.18

-2.66%

GDM

1722.87

-2.78%

JSE Gold

2800.52

-37.74

USD

75.07

+0.09

Euro

144.25

-0.58

Yen

118.18

+0.19

Oil

$109.92

-$2.87

10-Year

3.570%

UNCH

T-Bond

118.50

-0.03125

Dow

12381.11

+0.01%

Nasdaq

2771.51

-0.32%

S&P

1324.46

-0.28%

 
 
Foreign Gold Prices
CAD
0.00
EUR
0.00
GPB
0.00
JPY
0.00
CHF
0.00
USD
1,462.68
 

 

The Metals:

 

Gold climbed to a new all-time high of $1475.60 in Asia before it fell back to $1463.70 in London and then bounced back higher in New York, but it still ended with a loss of 0.41%.  Silver surged to a new 31-year high of $41.94 in Asia before it fell back to as low as $40.555 in early afternoon New York trade, but it still ended with a gain of 0.1%.  Both metals are, however, falling in after hours access trade.

 

Euro gold fell to under €1016, platinum lost $22.50 to $1781.50, and copper fell over 4 cents to about $4.46.

 

Gold and silver equities saw only slight losses for most of the morning, but they then accelerated lower in afternoon trade and ended with almost 3% losses.

 

The Economy:

 

There were no major economic reports today.  Tomorrow at 8:30AM EST brings Import and Export Prices for March and the Trade Balance for February expected at -$45.7 billion.  At 2PM is the Treasury Budget for March expected at -$189.0 billion.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil fell on a possible peace agreement in Libya and on word that Goldman Sachs was closing out a commodities trade initiated in late 2010 that included oil.

 

The U.S. dollar index found slight gains after the government averted a shutdown with a last minute deal last Friday night.

 

Treasuries saw modest losses ahead of this week’s $66 billion in supply to be auctioned off.

 

The Dow, Nasdaq, and S&P ended near unchanged on worries over upcoming earnings reports.

 

Among the big names making news in the market today were JPMorgan, PIMCO, Schneider Electric, Nasdaq, and Level 3 and Global Crossing.

 

GATA Posts:

Alasdair Macleod: Interest rates and Plan B

Chris Weber: Where is America's Gold? The mystery of Fort Knox

Gold advocate Tice produces inspirational movie about shark-injured teen surfer

 

The Statistics:

Activity from: 4/08/2011

Gold Warehouse Stocks:

10,997,013

-13,676

Silver Warehouse Stocks:

103,965,303

-715,828

 

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

1217.209

39,134,493

US$57,440m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

115.22

3,704,313

US$5,448m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

123.93

3,984,449

US$5,860m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,451

US$668m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.51

1,559,662

US$2,236m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,958

US$7m

 Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 133.35 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,242.89: +50.09 change from yesterday’s data.

 

The Miners:

 

Paramount’s (PZG) new resource estimation, SEMAFO’s (SMF.TO) first quarter production, Great Basin’s (GBG) drill results, Rubicon’s (RBY) drill results, Richmont’s (RIC) project update, Gammon’s (GRS) first quarter operating results, Nevsun’s (NSU) assay results, Metalline’s (MMG) new CFO, and Endeavour Silver’s (EXK) first quarter production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Richmont

RIC +3.87% $7.78

2.  Gold Reserve

GRZ +1.14% $1.78

3.  Minefinders

MFN+0.26% $15.35

 

LOSERS

1.  Solitario

XPL -11.21% $3.09

2.  Paramount

PZG -10.80% $3.55

3.  Endeavour Silver

EXK -7.84% $11.40

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:

Fox Resources Announces $936,000 Financing - More
- April 11, 2011 | Item | ShareThis


East-Side Drill Program Completed, Yields High Grade - More
- April 11, 2011 | Item | ShareThis


Hathor Continues to Grow Roughrider as Far East Discovery is Expanded Upon Completion of 2011 Winter Drill Program - More
- April 11, 2011 | Item | ShareThis


Reliant Gold Announces the Completion of A Flow-Through Private Placement With MineralFields Group - More
- April 11, 2011 | Item | ShareThis


Zinccorp Acquires Ag-Pb-Zn (Cu, Au) Target in Yukon - More
- April 11, 2011 | Item | ShareThis


Nuinsco Reports Balance of Trenching Results From Prairie Lake Rare Metals Project - More
- April 11, 2011 | Item | ShareThis


TVI Begins Exploratory Drilling on Its Tamarok Copper-Gold Porphyry Prospect - More
- April 11, 2011 | Item | ShareThis


NQ Exploration Announces a $2,000,000 Private Placement and Plan 20,000 m of Drilling on Carheil - More
- April 11, 2011 | Item | ShareThis


Eskay Provides Update on Operations - More
- April 11, 2011 | Item | ShareThis


Geo Minerals Acquires Additional Land at West Blackwater - More
- April 11, 2011 | Item | ShareThis


Providence Resources/Eagle Plains Provide Analytical Results from Diamond Drill Program at Iron Range Project - More
- April 11, 2011 | Item | ShareThis


Strategic Metals Ltd. Announces Appointment of Gordon Davis to Board of Directors - More
- April 11, 2011 | Item | ShareThis


ROBEX/Nampala, Drilling Results Summary of Past Campaigns; Include Gold Values of: 3.45 g/t Over 25 Meters and 1.37 g/t Over 77 Meters - More
- April 11, 2011 | Item | ShareThis


Cascadero Copper Corp.: Argentine Gold-Silver Polymetalic Discovery - More
- April 11, 2011 | Item | ShareThis


Indigo Intersects 7 Metres of 29.67 gpt Au on Vein 3 Target at Moule, Burkina Faso - More
- April 11, 2011 | Item | ShareThis


Nemaska Continues to Report Wide High-Grade Intersections from Whabouchi Lithium Project - More
- April 11, 2011 | Item | ShareThis


Baja Mining Announces First Concrete at Boleo and Provides Construction Timeline - More
- April 11, 2011 | Item | ShareThis


White Tiger Mining Corp.: RMZ11-23 Drill Hole Confirms the Two Significant Chalcopyrite Zones Intersected in RMZ11-21 - More
- April 11, 2011 | Item | ShareThis


Crazy Horse Resources Drills 94m of 0.53% Copper, 0.365 g/t Gold Within 389.7m of 0.28% Copper, 0.156g/t Gold at Taysan Project - More
- April 11, 2011 | Item | ShareThis


Pitchblack Appoints Fred Leigh as President and Chief Executive Officer - More
- April 11, 2011 | Item | ShareThis


Emgold Moves Forward With Idaho-Maryland Project Permitting - More
- April 11, 2011 | Item | ShareThis


Emgold Expands Claim Position at Its Buckskin Rawhide Gold-Silver Property, Nevada - More
- April 11, 2011 | Item | ShareThis


Orezone Confirms Positive Metallurgical Results for Sega Gold Deposit - More
- April 11, 2011 | Item | ShareThis


Treasury Metals Continues to Consolidate Land Position at Goliath Gold Deposit - More
- April 11, 2011 | Item | ShareThis


Wealth Minerals Ltd.: Initial Sampling Confirms Presence of High-Grade Rare Earth Element Mineralization at Wealth's Rodeo de los Molles Project, Argentina - More
- April 11, 2011 | Item | ShareThis


Force Energy Begins Lithium and Rare Earth Minerals Exploration Program - More
- April 11, 2011 | Item | ShareThis


Red Metal Resources Announces $2 Million Equity Financing - More
- April 11, 2011 | Item | ShareThis


International Millennium Hits Four Significant Ag/Au Zones in Drill Hole 11NL-5 at Nivloc Mine Project Nevada - More
- April 11, 2011 | Item | ShareThis


Lithium Exploration Group CEO Conducts Site Visit of Alberta Property, Meets with Industry Executives - More
- April 11, 2011 | Item | ShareThis


Archean Star Resources Bunarra Prospect Partial Assay Results - More
- April 11, 2011 | Item | ShareThis


Globex Mining Enterprises Inc.: Update on Getty Lead-Zinc Deposit in Nova Scotia - More
- April 11, 2011 | Item | ShareThis


Soltoro Trenching Returns 19.5 Metres of 194 gpt Silver at El Rayo Primary Silver Project in Jalisco, Mexico - More
- April 11, 2011 | Item | ShareThis


MBMI Commences 8,000 Metre Drill Program at Alpha - More
- April 11, 2011 | Item | ShareThis


AmeriLithium Completes First Phase of Exploration Drilling on Nevada Based Paymaster Lithium Project - More
- April 11, 2011 | Item | ShareThis


Mexus Gold U.S. Updates Progress at the 8 Brothers Mine in Sonora, Mexico - More
- April 11, 2011 | Item | ShareThis


Moly Mines Limited: China Development Bank Approves US$500 Million Project Finance Facility for the Spinifex Ridge Molybdenum/Copper Project - More
- April 11, 2011 | Item | ShareThis


Metallum Resources Inc. to Commence Aggressive Exploration Campaign on M-18 Gold/Silver Property, Argentina - More
- April 11, 2011 | Item | ShareThis


Rathdowney Initiates Drilling in Ireland - More
- April 11, 2011 | Item | ShareThis


North Bay Resources Inc. (NBRI) Retains Geologist For Zeballos Gold Project - More
- April 11, 2011 | Item | ShareThis


Avala Resources Confirms Strong Gold Mineralization Over Two Kilometers on the Korkan-Bigar Target Area: Intersects 26 Meters at 2.26g/t, 15 Meters at 2.82g/t - More
- April 11, 2011 | Item | ShareThis


Oromin Explorations Ltd.: Drilling Confirmation of Three New Discoveries, Additional Successful Expansion Drilling at Masato, Golouma South and Kerekounda - More
- April 11, 2011 | Item | ShareThis


Otis Reports Strong Metallurgy Results from its Kilgore Mine Ridge Deposit - More
- April 11, 2011 | Item | ShareThis


Century Mining Reports Year-End 2010 Results - More
- April 11, 2011 | Item | ShareThis


Portage Undertakes Strategic Review of Antimony Assets - More
- April 11, 2011 | Item | ShareThis


American Bonanza Acquires Interest in the Iskut JV Property From Barrick Gold - More
- April 11, 2011 | Item | ShareThis


Anfield Receives Excellent Results From Phase 2 of Its Metallurgical Testing Program at Its Mayaniquel Project, Guatemala - More
- April 11, 2011 | Item | ShareThis


Concordia Resource Corp. Corporate Update - More
- April 11, 2011 | Item | ShareThis


Hathor Continues to Grow Roughrider as Far East Discovery is Expanded Upon Completion of 2011 Winter Drill Program - More
- April 11, 2011 | Item | ShareThis


Richard Leclerc Joins Peregrine Metals as President - More
- April 11, 2011 | Item | ShareThis


Condor Resources Inc.: Seven Drill Holes Completed at Pucamayo West - More
- April 11, 2011 | Item | ShareThis


Redstar Prepares for 2 Drills at Newman-Todd - More
- April 11, 2011 | Item | ShareThis


Lara Exploration Ltd.: Agreement Signed on the Picha Copper-Silver Project in Peru - More
- April 11, 2011 | Item | ShareThis


Goldrush Resources Ltd.: RAB Drilling at Ronguen Gold Deposit Extends Gold Deposit to North With Intersections of Up to 3.92g/t Au Over 10 Metres - More
- April 11, 2011 | Item | ShareThis


Malaga Reports Record Sales of US $4.5 Million in the First Quarter of 2011 - More
- April 11, 2011 | Item | ShareThis


Yukon-Nevada Gold Corp. Announces Postponement of Corporate Update Conference Call - More
- April 11, 2011 | Item | ShareThis


Habanero to Increase Gold Prospect Landholding in Quebec - More
- April 11, 2011 | Item | ShareThis


Li3 Energy, Inc., Provides Project Updates on Maricunga, SignumBOX Report Summary and Corporate Initiatives - More
- April 11, 2011 | Item | ShareThis


Metalline Appoints Chief Financial Officer - "Metalline Mining Company (TSX:MMZ.to - News) ("Metalline") is pleased to announce the appointment of Sean Fallis as Chief Financial Officer effective April 15, 2011. Mr. Fallis was hired in February 2011 as VP of Finance. Mr. Fallis is a Chartered Accountant and was formerly the corporate controller of gold producer Rusoro Mining Ltd." More
- April 11, 2011 | Item | ShareThis


EMED Mining Quarterly Operational Update - More
- April 11, 2011 | Item | ShareThis


Minera IRL Announces Positive Drilling Update Minapampa East, Ollachea Project, Peru - More
- April 11, 2011 | Item | ShareThis


Paramount Gold Announces New Resource Estimation for New Drilling at San Miguel Project - "Paramount Gold (AMEX:PZG - News)(TSX:PZG - News)(Frankfurt:P6G - News)(WKN: A0HGKQ) ("Paramount") announces new NI 43-101 compliant resource estimates for its 100% owned San Miguel project in Mexico. The new estimates, prepared by Mine Development Associates (MDA) of Reno, Nevada, cover the five areas where new drilling took place in 2010, including the two most recent discoveries of San Francisco and Don Ese." More
- April 11, 2011 | Item | ShareThis


SEMAFO Produces 60,000 Ounces of Gold in Q1 2011 - "SEMAFO (TSX:SMF - News) today announced a total gold production of 60,000 ounces for the first quarter 2011 compared to 65,800 ounces for the same period in 2010. Production at Mana totaled 45,000 ounces for the quarter, an increase of 9% over to the same period last year." More
- April 11, 2011 | Item | ShareThis


Great Basin Gold Updates Exploration and Drilling Results for Hollister Project and Burnstone Mine - "Great Basin Gold Ltd. ("Great Basin Gold" or the "Company"), (TSX:GBG.to - News) updates exploration, stope and block delineation results for its Hollister Project and Burnstone Mine. At Hollister, highlights include results from the Velvet target drilling, the emergence of another high grade pay shoot on the Clementine #18 vein structure in the western part of the Hollister orebody, and significant advances in the integration of existing geological and geophysical data with new structural interpretations, leading to a number of new exploration follow-up targets." More
- April 11, 2011 | Item | ShareThis


Rubicon Minerals Updates Delineation Drill Results From the F2 Core Zone, Phoenix Gold Project, Red Lake, Ontario - "Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) is pleased to provide an update on its underground delineation drill program being carried out on part of the F2 Core Zone, at its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. A total of 16,000 metres of the planned 27,000-metre delineation drill program has been completed. New delineation drill results are shown in Table 1 and 2, and Figures 1 through 5. The delineation drilling will test a total area of 150 metre (horizontal) x 200 metre (vertical) area within the F2 Core Zone (Figures 1 and 4). The delineation drill results presented are from an ongoing four drill fence program covering approximately 90 metres of strike length and are focused within +/-100 metres of the 305 metre level (some results extend beyond this area as shown in Figure 2 and 3). In addition, Rubicon is carrying out approximately 40,000 metres of exploration drilling to continue to expand and infill the F2 Gold System." More
- April 11, 2011 | Item | ShareThis


Richmont Mines Inc.: Monique Work Commitment Completed; Initial Drill Results Confirm Strong Near Surface Gold Mineralization - "Richmont Mines Inc. (TSX:RIC - News)(AMEX:RIC - News), ("Richmont" or the "Company") is pleased to provide an update on its Monique project (the "Property"), located in the Val-d'Or area approximately 10 km east of the Beaufor Mine and 50 km from Richmont's Camflo Mill." More
- April 11, 2011 | Item | ShareThis


Gammon Gold Reports Record Operating Cash Flow and Net Free Cash Flow at Ocampo During the First Quarter and Provides 2011 Guidance - "Gammon concluded the first quarter on plan, with record underground production, record margins, record operating cashflow and record net free cash flow. The Company begins the second quarter with El Cubo mining and development commencing mid-April and the acquisition of Capital Gold complete. The Company now has three 100% owned operating mines and two advanced development projects in Mexico that will underpin our peer-leading growth targets in 2011 and beyond." More
- April 11, 2011 | Item | ShareThis


Nevsun Resources Ltd.: Assay Results From Infill Drilling at the Harena VMS Deposit, Eritrea - "Nevsun Resources Ltd. (TSX:NSU - News)(AMEX:NSU - News) is pleased to report the base metal assays from the thirty-four infill diamond drill holes at the Harena deposit within its Bisha exploration license in Eritrea. Nevsun plans to use the infill drilling results to complete a resource estimate, mine plan and mining license application to process the Harena material at its Bisha processing plant. Harena lies 9.5 km southwest of the Bisha Main deposit on an exploration license contiguous to the Bisha Mining license." More
- April 11, 2011 | Item | ShareThis


Endeavour Silver Reports Record Production in First Quarter, 2011; Produces 900,133 oz Silver (Up 17%) and 5,008 oz Gold (Up 33%) - "Endeavour Silver Corp. (TSX:EDR - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announced today that the Company set new records for silver and gold production in the First Quarter, 2011 from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State." More
- April 11, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2011

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 11 April, 2011 | |


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