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-- Posted 20 April, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $1498.50 | +$4.50 | Silver | $44.66 | +$0.88 | XAU | 222.78 | +1.05% | HUI | 589.95 | +0.81% | GDM | 1722.50 | +0.66% | JSE Gold | 2845.96 | +65.93 | USD | 74.37 | -0.69 | Euro | 145.12 | +1.72 | Yen | 121.40 | +0.29 | Oil | $111.45 | +$3.17 | 10-Year | 3.400% | +0.044 | T-Bond | 121.00 | -0.46875 | Dow | 12453.54 | +1.52% | Nasdaq | 2802.51 | +2.10% | S&P | 1330.36 | +1.35% |
The Metals: Gold rose to a new all-time high of $1505.89 by late morning in New York before it fell back off in afternoon trade, but it still ended with a gain of 0.3%. Silver soared to a new 31-year high of $45.387 before it also fell back off in late trade, but it still ended with a gain of 2%. Euro gold fell to about €1034, platinum gained $25 to $1791.50, and copper gained over 11 cents to about $4.34. Gold and silver equities rose over 2% by midmorning before they fell back off a bit in early afternoon trade, but they still ended with about 1% gains. The Economy: Report | For | Reading | Expected | Previous | MBA Mortgage Purchases | 4/15 | 2.3% | - | -6.7% | Existing Home Sales | Mar | 5.1M | 5.0M | 4.92M |
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 4/16 expected at 390,000. At 10AM is the FHFA Housing Price Index for February, Leading Indicators for March expected at 0.2%, and the Philadelphia Fed for April expected at 33.0. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose above $111 a barrel on bullish inventory data as the U.S. dollar index fell to a new 15-month low on a successful bond auction in Spain that sent the euro higher. Treasuries fell as the Dow, Nasdaq, and S&P rose markedly on strong earnings reports. Among the big names making news in the market today were American Airlines, AT&T, Apple, Blackstone, United Technologies, Intel, IBM, Wells Fargo, and AES. The Commentary: “The silver market is now entering a parabolic phase, a phase that while it can bring enormous profits for those who are long, is also extremely dangerous for traders. Markets in this phase can generate price swings in either direction that will wrench on the gut and turn euphoria into near panic.
The breach of $44 was impressive enough but the fact that it has easily taken out $45 with relative ease suggests this market is on course for a run to $50. The rate of ascent could take it there by early next week but at some point, there will be a rush to ring the cash register. Just know that those who want to trade this mad market, had better be prepared for what they are getting themselves into.
What makes trading a market of this nature so difficult is attempting to place money management stops or at least mental stops. The extent of the price swings are so huge that stops placed too close to the last trade are prone to be taken out in a price retracement which then quickly ends only to see the uptrend resume leaving the trader sitting on the sidelines watching as he misses the rest of the ride higher. Place a stop too far away from the last price and it could wipe out one's margin before it gets triggered. In other words, attempting to set a risk parameter for the trade if it goes sour becomes almost impossible for all but those with very deep pockets whose accounts are well funded. Volume has picked up on the breach of $44 as expected which has alleviated the concerns I expressed here yesterday as it seemed to be floating higher instead of being driven higher as it is in the process of being done today. I still see a very real fear among would-be shorts to step in front of this thing. A market making moves of 2-3% day after day is primed for a correction but no one wants to jump on the tracks in front of the freight train.
The gold/silver ratio continues to drop in favor of silver and is currently near 33.16 as I write this. It was down below 20 in late 79, early 1980. Could it go this low again? Yes, it could.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ GATA Posts:
Rob Kirby: The Amaranth kill shot The Statistics: Activity from: 4/18/2011 Gold Warehouse Stocks: | 11,088,778 | +5,300 | Silver Warehouse Stocks: | 103,120,465 | +300,345 |
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 | 1230.249 | 39,553,740 | US$59,355m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 115.35 | 3,708,673 | US$5,556m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 115.36 | 3,708,882 | US$5,557m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,403 | US$685m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.23 | 1,582,809 | US$2,359m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,957 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.91 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 133.69 - No change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 11,116.92: +72.85 change from yesterday’s data. The Miners: Vista Gold’s (VGZ) closed offering, Almaden’s (AAU) drill results, Timberline’s (TLR) drill results, Freeport’s (FCX) supplemental dividend and first quarter results, Metalline’s (MMG) updated NI 43-101 compliant resource report, and Hecla’s (HL) rescue operation were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Almaden | AAU +8.64% $4.65 | 2. Jaguar | JAG +8.06% $5.90 | 3. Mines MGMT | MGN +7.06% $2.73 |
LOSERS 1. Gold Reserve | GRZ -3.67% $1.705 | 2. IAMGOLD | IAG -2.95% $20.08 | 3. Silver Wheaton | SLW -2.73% $41.70 |
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: Strait Gold Commissions Airborne Geophysics for Alicia - More
- April 20, 2011 | Item | ShareThis
Golden Phoenix Closes Acquisition of Ra Resources; Prepares to Advance Exploratory Drilling Program - More
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Daulton Capital Announces Partnership in Paupua New Guinea - More
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St. Eugene Completes Diamond Drilling Program at Amisk Gold Project and Appoints Officers - More
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Andean American Gold Reports Progress With Invicta Project - More
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Update on Sinchao Metals Property Ownership - More
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VMS Ventures Reports on Two Additional Holes at Its Cowan River Copper-Zinc Discovery, Near Snow Lake, Manitoba - More
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Copper Mountain Commissions Primary Crusher With Ore on Schedule - More
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White Tiger Mining Corp.: "RM Discovery" Yields Wide Copper Zones at Marshall Lake Property, Ontario - More
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Detour Gold Reports First Drill Results from Its 2011 Drilling Program at Detour Lake Project in Ontario - More
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Romios Gold Resources Inc.: Unaware of Any Material Change - More
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Nuinsco Evaluates Additional Occurrences on Bukari Concession in Egypt - More
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Augustine Clarifies Wawa Property Acquisition - More
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AuRo Resources Amends LOI with Minerales Del Puerto - More
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Orex Exploration Inc.: Drilling Campaign Has Begun at Goldboro - More
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Cap-Ex Closes Adriana and Porky Lake Acquisitions - More
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American Bonanza Receives Final Major Permit for the Copperstone Gold Mine - More
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Afri-Can Marine Minerals Engages Investor Relations Firm and Extends Shares Purchase Warrants - More
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Excalibur Files NI 43-101 Report on Silver King Property - More
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Augen Gold Intersects 6.72 g/t Over 11.19 Metres Near Historical Jerome Mine on the North Shore of Lake Opeepeesway - More
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Afri-Can Completes Sampling Program on EPL 3403 in Namibia - More
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Soltoro Drills 7 Metres of 1 Kilogram Silver & 6.9 Metres of 527 GPT Silver at El Rayo Primary Silver Deposit - More
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La Quinta Finds 10 g/t Gold at Its Easter Project, Nevada - More
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Emgold Finds More High Grade Gold and Silver at Its Buckskin Rawhide Property, Nevada - More
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Galahad Metals Inc.: Phase II Drilling at Regcourt Commences; Second Granodiorite Intrusion to Be Investigated - More
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Lions Gate Metals 7th Hole at Poplar Assays 220m of 0.35% Copper - More
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Infrastructure Materials Corp. - Company Announces Drill Results at Silver Project - More
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Bayfield Reports Silver Results from Further Assaying 2010 Drilling in Rainy River, NW Ontario - More
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Goldgroup Cuts Several 90-Plus Metre Intercepts of Oxide Gold at Caballo Blanco, Mexico - More
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Rye Patch Gold Adds Jessup to 2011 Program and Budget - More
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Cue Resources Ltd. Drill Results Identify Trend at San Miguel Similar to San Antonio Uranium Deposit - More
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Ridgemont Announces Plans for Redford - More
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Unity Commences VTEM Survey on Prospective Uranium Properties in Athabasca Basin - More
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MBMI Updates Financing and Announces Appointment of Director - More
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Actus Minerals Corp.: Resignation and Appointment of Director - More
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Coronet Announces the Appointment of Theo van der Linde, CA as Chief Financial Officer - More
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Pacific Bay Minerals Ltd.: Data Review Highlights Size Potential of Haskins-Reed Property, BC - More
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Tuffnell Ltd. Announces Fully Subscribed Financing for Phase 3 at Its Little Butte Gold/Copper Project in Arizona - More
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Nemaska Continues to Report High-Grade Intersections From Whabouchi Lithium Project - More
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Nevado Drills Widest Massive Oxides Interval to Date Yielding 89.7 Metres Grading 59% Fe2O3, 18% TiO2 and 0.08% V2O5 at the Farrell-Taylor Occurrence - More
- April 20, 2011 | Item | ShareThis
Santa Fe Gold Provides Update on Transaction with Columbus Silver and Cease Trade Orders - More
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Crosshair Recovers 314 Ounces of Gold from Golden Promise - More
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Intrepid Mines Tujuh Bukit Project Indonesia: Heap Leach Operation on Oxide Resource Delivers Robust Preliminary Economic Assessment Results - More
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Nemaska Exploration Announces that its Subsidiary, Monarques Resources Inc. has Filed a Preliminary Prospectus for a Minimum Offering of $2M - More
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10,000 Meter Drilling Contract Signed by Douglas Lake for Handeni - More
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Minera Andes Announces First Quarter 2011 San Jose Mine Production - More
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Kivalliq Commences Phase 1 of 35,000 Metre Drill Program at Angilak Property - More
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Crescent Resources Announces Results From the 2011 Auger Drilling Soil Exploration Program at the Uncle Sam Gold Project, Alaska - More
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Red Pine to Commence Exploration Program on SaraCourt Property - More
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Bellhaven Drills Promising First Hole at El Limon Prospect, La Mina, Colombia - More
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Alto Ventures and Foundation Resources Drill 10 g/t Gold; Expand Main and East Zones at the East Coldstream Deposit, Northwestern Ontario - More
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Chalice Gold Mines Limited Announces Release of an Updated Presentation on Exploration Activities in Eritrea - More
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Rockgate Definition Drilling Continues to Expand High-Grade Plateau Edge Structure at Falea Uranium/Silver/Copper Project, Mali, West Africa - More
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Dalradian Appoints Chief Operating Officer - More
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U3O8 Corp. Intersects 28m at 0.075% U3O8 at Accori North C in the Kurupung Project, Guyana - More
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Foundation Resources and Alto Ventures Drill 10 g/t Gold; Expand Main and East Zones at the East Coldstream Deposit, Northwestern Ontario - More
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TVI Pacific Inc. Provides Operational Update on Alaskan Well - More
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American Manganese Inc.: Drilling Begins at Artillery Peak - More
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Vista Gold Corp. Announces Closing of Offering of Common Shares - "Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Company") is pleased to announce that it has closed its previously announced offering of 9,000,000 common shares of Vista ("Common Shares") at a price of C$3.30 per Common Share (the "Issue Price") for aggregate gross proceeds to the Company of C$29,700,000 (the "Offering"). The Offering was completed on a bought deal basis with GMP Securities L.P. and Wellington West Capital Markets Inc. as underwriters (the "Underwriters"). The Common Shares were sold in Canada by way of a prospectus supplement to Vista's existing base shelf prospectus dated April 27, 2009 and filed with the securities commissions in all of the provinces and territories of Canada (other than the Province of Quebec) and were sold in the United States by way of a prospectus supplement to the Company's base shelf prospectus included in the Company's shelf registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") on April 27, 2009." More
- April 20, 2011 | Item | ShareThis
Drilling Intersects 0.70 g/t Gold Over 91 Meters at Almaden's Caballo Blanco Project, Mexico - "We are very pleased to receive these new results from Goldgroup's on-going drill program at Caballo Blanco. The Caballo Blanco and nearby El Cobre projects are both underexplored and highly prospective projects in our portfolio. We are excited with Goldgroup's plans for Caballo Blanco and look forward to reporting results as they are received." More
- April 20, 2011 | Item | ShareThis
Metalline Announces NI 43-101 Resource Estimate Report on the Shallow Silver Zone - "Metalline Mining Company (TSX:MMZ.to - News) ("Metalline") is pleased to announce an updated NI 43-101 compliant resource report on the shallow silver zone at the Sierra Mojada Project in Coahuila, Mexico entitled "Shallow Silver Zone" Silver Zinc Deposit Sierra Mojada Project, Coahuila State, Mexico dated April 18, 2011 (the "Technical Report")." More
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Timberline Reports Additional High-Grade Intercepts from Underground Drilling at Butte Highlands - "Timberline Resources Corporation (TSX-V:TBR - News)(AMEX:TLR - News) ("Timberline" or the "Company") today announced additional results from underground drilling at the Butte Highlands Gold Project in southwestern Montana." More
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Freeport- McMoRan Copper & Gold Inc. Declares $0.50 per Share Supplemental Common Stock Dividend - "Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX - News) announced today that its Board of Directors has declared a supplemental common stock dividend of $0.50 per share to be paid on June 1, 2011 to shareholders of record as of May 15, 2011. The supplemental dividend to be paid in June represents an addition to FCX’s regular quarterly common stock dividend of $0.25 per share." More
- April 20, 2011 | Item | ShareThis
Freeport-McMoRan Copper & Gold Inc. Reports First-Quarter 2011 Results - "Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX - News) reported first-quarter 2011 net income attributable to common stock of $1.5 billion, $1.57 per share, compared to net income of $897 million, $1.00 per share, for the first quarter of 2010." More
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Freeport-McMoRan Copper & Gold Inc. Reports First-Quarter 2011 Results - “Our strong first-quarter results reflect solid execution by our global operating teams and continuation of favorable pricing for our principal commodities – copper, gold and molybdenum. We are focused on continuing the successful execution of our operating plans and on developing our highly attractive projects for future growth. We are well placed for future success with an attractive resource position, strong technical and project management capabilities and the financial resources required for investment. We are also pleased to have significant cash flows to enable investment in growth projects while providing increased cash returns to shareholders.” More
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Ivanhoe Clarifies its Position on Exco Resources Limited's Market Release Concerning the Proposed Sale of the Cloncurry Copper Project to Xstrata Copper - "Ivanhoe Australia Limited (Ivanhoe) (TSX:IVA - News)(ASX:IVA - News) notes the announcement today by Exco Resources Limited (Exco) in relation to the proposed sale of the Cloncurry Copper Project to Xstrata Copper and the intended capital distribution to shareholders of Exco." More
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Borehole finds open space where Idaho miner may be - "A pocket of open space behind tons of collapsed rock and debris has added some optimism to the search for a missing silver miner, despite dangerous conditions that are forcing rescuers to take a much longer route toward where he is trapped." More
- April 20, 2011 | Item | ShareThis
- 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 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 20 April, 2011 | |
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