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Gold Seeker Closing Report: Gold and Silver End Mixed

By: Chris Mullen, Gold-Seeker.com



-- Posted 31 May, 2011 | |

 

Close

Gain/Loss

Gold

$1534.90

-$0.90

Silver

$38.31

+$0.43

XAU

208.78

+0.15%

HUI

552.53

+0.39%

GDM

1611.27

+0.36%

JSE Gold

2631.43

-4.94

USD

74.61

-0.31

Euro

143.89

+0.68

Yen

122.66

-1.28

Oil

$102.70

+$2.11

10-Year

3.050%

-0.014

T-Bond

126.15625

+0.28125

Dow

12569.79

+1.03%

Nasdaq

2835.30

+1.37%

S&P

1345.20

+1.06%

 
 

 

The Metals:

 

Gold fell $3.80 to $1532.00 by a little after 8AM EST before it shot up to $1540.35 by midmorning in New York, but it then fell back off in the last two and half hours of trade and ended with a loss of 0.06%.  Silver surged almost a dollar to as high as $38.75 in London before it fell back to $37.955 by about noon EST, but it then rallied back higher in late trade and ended with a gain of 1.14%.

 

Euro gold fell to about €1067, platinum gained $31.25 to $1826.25, and copper remained at about $4.18.

 

Gold and silver equities waffled near unchanged and ended with slight gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Mar

-3.61%

-3.4%

-3.34%

Chicago PMI

May

56.6

62.5

67.6

Consumer Confidence

May

60.8

66.3

66.0

 

House to reject debt limit increase without cuts  Yahoo

 

Tomorrow at 8:15AM EST brings ADP Employment for May expected at 170,000 and at 10AM is the ISM Index for May expected at 57.6 and Construction Spending for April expected at -0.5%.

 

The Markets:

 

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

 

Oil rose as the U.S. dollar index fell on optimism over a deal to bring additional aid to Greece that sent the euro higher.

 

Treasuries rose along with the Dow, Nasdaq, and S&P as poor economic data was offset by relief over an apparent deal to tackle Greece’s debt problems.

 

Among the big names making news in the market today were Ashland, Nokia, BMW, and Apple.

 

GATA Posts:

Murray Pollitt: Electronic wheelbarrows

Gold and silver seen forming bullish divergences

Tungsten-stuffed gold story delights inflation-wracked Vietnam government

GoldMoney interview: Egon von Greyerz on gold's return as currency

News items suggest gold's long-term trend remains favorable

GATA Chairman Bill Murphy interviewed by GoldMoney's James Turk

 

The Statistics:

Activity from: 5/27/2011

Gold Warehouse Stocks:

11,140,915

+29,301

Silver Warehouse Stocks:

101,712,193

+284,587

 

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

1213.169

39,004,605

US$59,909m

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

Gold Bullion Securities

115.35

3,708,632

US$5,695m

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

ETFS Physical Gold

126.23

4,058,350

US$6,232m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,184

US$701m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.12

1,547,033

US$2,372m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,955

US$8m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.91 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 137.61 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,941.33 - No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) total voting rights, Paramount’s (PZG) project updates, US Gold’s (UXG) exploration update, Kimber’ s(KBX) drill results, SilverCrest’s (SVL.V) filed form 40-F, and Extorre’s (XG) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Banro

BAA+13.13% $3.79

2.  Kimber

KBX+11.90% $1.88

3.  Revett

RVM +8.16% $4.24

 

LOSERS

1.  Midway

MDW-4.65% $1.64

2.  Minco

MGH -3.88% $1.98

3.  Vista

VGZ -3.69% $2.87

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:

Northquest Ltd. Announces Grant of Stock Options - More
- May 31, 2011 | Item | ShareThis


Stillwater Mining Company Comments on Stronger PGM Prices - More
- May 31, 2011 | Item | ShareThis


Nemaska Redeems the $1M Convertible Debenture Issued in Favor of Golden Goose Resources Inc. - More
- May 31, 2011 | Item | ShareThis


Examination of Historical Drilling Results at Buckreef by Tanzanian Royalty Reveals High Grade Gold Values Across Significant Widths - More
- May 31, 2011 | Item | ShareThis


Trevali Strengthens Management Team - More
- May 31, 2011 | Item | ShareThis


Ecometals Limited: Condor Gold Project Receipt - More
- May 31, 2011 | Item | ShareThis


Yale Completes Geophysics Program at Los Amoles – Partner Commits to Next Term of Agreement - More
- May 31, 2011 | Item | ShareThis


Erdene Receives Mining License for the Zuun Mod Molybdenum-Copper Project in Mongolia - More
- May 31, 2011 | Item | ShareThis


Amarc Commences 2011 Exploration Program in South-Central Bc - More
- May 31, 2011 | Item | ShareThis


Victory Resources Corporation - Reforma Work program update - More
- May 31, 2011 | Item | ShareThis


Canarc Stakes Two More Gold Properties in Central British Columbia - More
- May 31, 2011 | Item | ShareThis


Sono Resources Appoints Dr. Luc Antoine as Director - More
- May 31, 2011 | Item | ShareThis


AXMIN's Notice of Annual and Special Meeting of Shareholders on Tuesday, June 28, 2011 - More
- May 31, 2011 | Item | ShareThis


St-Georges Platinum Initiates the First Phase of Exploration Drilling for 2011 on Its Villebon Gold-Copper-Nickel-PGE Project - More
- May 31, 2011 | Item | ShareThis


Gowest Gold Announces Conference Call Wednesday 11am ET Corresponding to Updated Resource - More
- May 31, 2011 | Item | ShareThis


StoneShield Announces Private Placement of Units - More
- May 31, 2011 | Item | ShareThis


CB Gold Inc. Reports Additional High Grade Intercepts Including 9.28 Metres at 11.62 g/t Gold and Positive Geophysics Survey Results - More
- May 31, 2011 | Item | ShareThis


Gryphon Gold Sets Record Date and Meeting Date for Annual General Meeting - More
- May 31, 2011 | Item | ShareThis


Goldex Resources Announces Trench Sample Assay Results from the El Sauce Sector of Its El Pato Project in Guatemala - More
- May 31, 2011 | Item | ShareThis


Key Gold Holding Drills Souart Gold Project, Quebec: Visible Gold in Quartz Veins - More
- May 31, 2011 | Item | ShareThis


F.D.G. Mining Signs Drill Contract and Reports Progress at Topacio, Nicaragua - More
- May 31, 2011 | Item | ShareThis


Argus Options IKE Selwyn Basin Gold Project, Yukon to Great Bear - More
- May 31, 2011 | Item | ShareThis


Globex's Ungava Area Iron Project Optioned to Canamara - More
- May 31, 2011 | Item | ShareThis


GLD Doubles Up The Drills On Exciting Target - More
- May 31, 2011 | Item | ShareThis


Ardent Mines Ltd. Signs Exclusive Brazil Mineral Rights Option - More
- May 31, 2011 | Item | ShareThis


Redtail Metals Corp. Announces Completion of Name Change - More
- May 31, 2011 | Item | ShareThis


Golden Predator Triples 2011 Budget, Adds Second Drill, and Plans for Third at Brewery Creek Project, Yukon - More
- May 31, 2011 | Item | ShareThis


Adventure Gold Continues to Make Significant Gold Discoveries at the Past Producing Beliveau Mine East of Val-d'Or - More
- May 31, 2011 | Item | ShareThis


Edgewater Increases Inferred Resources by 30% at the Corcoesto Gold Project, Spain - More
- May 31, 2011 | Item | ShareThis


Tintina Resources Announces Changes to Board of Directors - More
- May 31, 2011 | Item | ShareThis


MAX drills 9.6 metres of 1.04 g/t Au at Table Top in Nevada, extends strike of mineralization by 244 metres - More
- May 31, 2011 | Item | ShareThis


Orko Silver Corp.: President's Update - More
- May 31, 2011 | Item | ShareThis


Metanor Drilled a New Gold Horizon at Barry - More
- May 31, 2011 | Item | ShareThis


Columbus Gold Corp. Acquires Hughes Canyon Gold Project in the Stillwater Range, Nevada - More
- May 31, 2011 | Item | ShareThis


Metals Creek Resources Intersects 1.43% Cu, 6.78 g/t Ag Over 66.30 Meters at Its Tillex Copper Project - More
- May 31, 2011 | Item | ShareThis


Rockland Drills "Net-Texture" Sulfides in Ultramafic Rocks at Retty Lake Cu-Ni-PGE, Quebec - More
- May 31, 2011 | Item | ShareThis


Corvus Gold Appoints Peggy Wu as Chief Financial Officer - More
- May 31, 2011 | Item | ShareThis


Argentum Closes Second Tranche of Non-Brokered Financing - More
- May 31, 2011 | Item | ShareThis


Tombstone Exploration Renews Six Arizona State Exploration Permits - More
- May 31, 2011 | Item | ShareThis


Caza Gold Begins Phase 1 Drill Program at the Balleza Gold Project, Moris Property Chihuahua, Mexico - More
- May 31, 2011 | Item | ShareThis


Goldrich Announces Closing of Private Placement Financing - More
- May 31, 2011 | Item | ShareThis


Intrepid Mines Limited: Shyri Project Ecuador-Gold-Copper Porphyry Discovery at Gama Prospect - More
- May 31, 2011 | Item | ShareThis


Black Bull Resources Inc. Announces AGM and March 31, 2011-Interim Financial Statement Release - More
- May 31, 2011 | Item | ShareThis


Gold Canyon Intercepts 292.5 Meters at 1.13 Grams Per Tonne Gold at Springpole Gold Project-Stakes Additional 10,000 Acres - More
- May 31, 2011 | Item | ShareThis


PolyMet Updates Status of Environmental Review - More
- May 31, 2011 | Item | ShareThis


ATAC Resources Ltd. Commences Drilling and Exploration at its Rackla Gold Project, Yukon - More
- May 31, 2011 | Item | ShareThis


Source Intersects 55.4 Metres Grading 0.54 g/t Gold, 5.52 g/t Silver and 0.71% Copper (1.90 g/t Gold Equivalent) at Las Minas Project - More
- May 31, 2011 | Item | ShareThis


Western Pacific Receives Drill Permit For Mineral Gulch - More
- May 31, 2011 | Item | ShareThis


Santa Fe Gold Reports Results of Annual Meeting - More
- May 31, 2011 | Item | ShareThis


Palladon Ventures-CML Update - More
- May 31, 2011 | Item | ShareThis


Hondo Minerals Meets Tennessee Mine Production Deadline - More
- May 31, 2011 | Item | ShareThis


Richfield Securityholders Approve Arrangement Transaction Involving Acquisition by New Gold - "New Gold Inc. ("New Gold") (TSX:NGD.to - News) (AMEX:NGD - News) and Richfield Ventures Corp. ("Richfield") (TSXV:RVC) are pleased to announce that the previously announced acquisition of Richfield by New Gold pursuant to a plan of arrangement (the "Arrangement") was overwhelmingly approved at a special meeting of Richfield securityholders on May 30, 2011. The Arrangement, which is expected to become effective on or about June 1, 2011, will result in New Gold acquiring all of the issued and outstanding shares of Richfield." More
- May 31, 2011 | Item | ShareThis


Foran Announces Second Quarter 2011 Results - More
- May 31, 2011 | Item | ShareThis


Abzu Gold Discovers New 3 km x 0.6 km Gold Targets Golden Reef East-Asankrangwa Belt, Ghana - More
- May 31, 2011 | Item | ShareThis


Oceanic Appoints SECOR to Study Potential Economic Benefits to Nunavik and the Province of Quebec - More
- May 31, 2011 | Item | ShareThis


Black Iron Intersects 32.1% Iron Over 164 Meters in Twin Hole at Its Shymanivske Project in Ukraine - More
- May 31, 2011 | Item | ShareThis


Xtra-Gold Announces 52 Metres Grading 2.42 g/t Gold, 50 Metres Grading 1.64 g/t Gold and 50 Metres Grading 1.31 g/t Gold From Its Kibi Gold Project Big Bend - More
- May 31, 2011 | Item | ShareThis


AurCrest Gold Announces Spring/Summer Exploration on East Red Lake Gold - More
- May 31, 2011 | Item | ShareThis


Northland Signs Agreement With Peab for the Civil Works at the Kaunisvaara Iron Ore Project - More
- May 31, 2011 | Item | ShareThis


Grayd Joins the OTCQX International Market in the U.S. - More
- May 31, 2011 | Item | ShareThis


Malaga Announces a $1.5 Million Diamond Drilling Campaign in the Consuzo Zone at Its Pasto Bueno Tungsten Mine - More
- May 31, 2011 | Item | ShareThis


Rockridge Appoints Bryan Hyde as Technical Director - More
- May 31, 2011 | Item | ShareThis


Rockgate Hosts Mines Minister at Falea Uranium-Silver-Copper Project, Mali - More
- May 31, 2011 | Item | ShareThis


Star Gold Management Team Conducts Tour of Company's Nevada Properties - More
- May 31, 2011 | Item | ShareThis


Yukon-Nevada Gold Corp. Closes Private Placement and Warrant Exercise for Total Gross Proceeds of $59,328,000 - More
- May 31, 2011 | Item | ShareThis


Kokomo Engages the Services of Wardrop to Prepare NI 43-101 Technical Report On Arqueana's Lithium/Niobium/Tantalum/Tin Mining Project in Brazil - More
- May 31, 2011 | Item | ShareThis


Molycor Expands Scope and Adds Additional Consultant to Complete Magnesium Project Team - More
- May 31, 2011 | Item | ShareThis


Alto Announces Addition to Management Team - More
- May 31, 2011 | Item | ShareThis


Forum Announces Addition to Management Team - More
- May 31, 2011 | Item | ShareThis


Riverside Resources and Partner Guerrero Exploration Inc. to Commence Drilling at the Chapalota Project in Sinaloa, Mexico - More
- May 31, 2011 | Item | ShareThis


Guerrero to Commence Drilling at the Chapalota Project in Sinaloa, Mexico - More
- May 31, 2011 | Item | ShareThis


Li3 Energy Reports Initial Canadian National Institute 43-101 Results - More
- May 31, 2011 | Item | ShareThis


Serabi Mining plc ("Serabi" or the "Company") Award of Options - More
- May 31, 2011 | Item | ShareThis


Weststar Appoints David Michaud - More
- May 31, 2011 | Item | ShareThis


Guardians of Gold Inc. Announces the Acquisition of 1.25 Million Warrants to Purchase Common Shares of Silver Dragon Resources Inc. - More
- May 31, 2011 | Item | ShareThis


Serabi Mining plc ("Serabi" or the "Company"): Notice of Annual General Meeting and Special Meeting - More
- May 31, 2011 | Item | ShareThis


Barrick Receives Zambian Clearance for Equinox Acquisition: All Regulatory Approvals Now Received - "Barrick Gold Corporation (NYSE:ABX - News)(TSX:ABX - News) ("Barrick" or "the Company") announced today that it has received the unconditional approval of the Zambian Competition and Consumer Protection Commission for Barrick's proposed acquisition of all of the issued and outstanding common shares (the "Equinox Shares") of Equinox Minerals Limited (TSX:EQN - News)(ASX:EQN - News) ("Equinox"). This approval has been obtained in connection with the previously-announced offer (the "Offer") by Barrick's wholly-owned subsidiary, Barrick Canada Inc. (the "Offeror"), to acquire, subject to the terms and conditions of the Offer, all of the Equinox Shares at a price of C$8.15 per Equinox Share." More
- May 31, 2011 | Item | ShareThis


Randgold Resources - Total Voting Rights - "Randgold Resources Limited announces that, in accordance with FSA's Disclosure Rules and Transparency Rules, its issued share capital consists of 91,138,870 (ninety one million one hundred and thirty eight thousand eight hundred and seventy) ordinary shares of US$0.05 each." More
- May 31, 2011 | Item | ShareThis


Paramount Gold and Silver Updates Progress on San Miguel and Sleeper Projects - "Paramount Gold and Silver Corp. (AMEX:PZG - News)(TSX:PZG - News)(Frankfurt:P6G - News)(WKN: A0HGKQ) ("Paramount Gold") announced today work to complete Preliminary Economic Assessments on its two main projects is progressing on schedule and on budget." More
- May 31, 2011 | Item | ShareThis


Excellon Resources to Acquire Lateegra Gold - "Excellon Resources Inc. (TSX:EXN - News) ("Excellon" or the "Company") and Lateegra Gold Corp. (TSX-V:LRG - News) ("Lateegra") are pleased to announce that they have entered into an arrangement agreement (the "Agreement") pursuant to which Excellon will acquire all of the outstanding common shares (the "Lateegra Shares") of Lateegra (the "Transaction")." More
- May 31, 2011 | Item | ShareThis


US Gold: Nevada Exploration Update-New Encouraging Results at Limo & Gold Bar - "US GOLD CORPORATION (NYSE:UXG - News)(TSX:UXG - News) is pleased to announce that recent drilling in Nevada has returned encouraging results. At Cadillac, thirteen holes have been completed since the last exploration update on January 11th. Long intervals of gold mineralization were encountered, the best results are: 2.56 gpt (grams per tonne) gold over 82.3 m (meters) including 7.17 gpt gold over 12.2 m, 3.27 gpt gold over 16.8 m, 1.33 gpt gold over 32.0 m, and 0.70 gpt gold over 102.1 m." More
- May 31, 2011 | Item | ShareThis


KIMBER INTERCEPTS 4.9 METRES OF 78.4 g/t GOLD AND 127.9 g/t SILVER BELOW CARMEN GOLD-SILVER DEPOSIT, MONTERDE PROJECT - "Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to announce the results of two new drill holes from its ongoing drill program at the Carmen deposit at its Monterde Project in Mexico. These holes were drilled with the objective of expanding and upgrading mineral resources potentially amenable to underground extraction ("Carmen Deep" target). Drill hole MTRD-476 was collared on section 30 and was designed to intersect the Carmen structure at a vertical depth of 425m below surface, in an area never previously tested by drilling. This hole intersected high grade mineralization averaging 78.4 g/t gold and 127.9 g/t silver over 4.9 metres, including 1.5 metres of 152.5 g/t gold and 282 g/t silver. This important new intercept is hosted within a semi-massive to massive-sulphide breccia between 565.5 and 570.4 metres down hole and is interpreted to correlate with the downward projection of the Carmen structure." More
- May 31, 2011 | Item | ShareThis


SilverCrest Files Form 40-F Registration Statement with SEC - "SilverCrest had received in December 2010 notification of an order instituting administrative proceedings from the United States Securities and Exchange Commission ("SEC"). SilverCrest understands that this order was issued as a result of a registration statement filed in 1999 by Strathclair Ventures Ltd., a predecessor company to SilverCrest which was under different management until SilverCrest assumed control in 2003. The order alleged that Strathclair (now SilverCrest) had not filed periodic reports with the SEC sufficient to maintain its registration in the United States. Following discussions with the SEC and in order to remedy the situation, SilverCrest had entered into a consent order with the SEC pursuant to which SilverCrest agreed to the revocation of the registration of its common shares under the U.S. Exchange Act. As a result, broker-dealers in the United States ceased to be able to effect transactions in the common shares of SilverCrest." More
- May 31, 2011 | Item | ShareThis


Extorre Gold Mines Limited: High Gold-Silver Grades Continue for the Zoe Discovery at Cerro Moro - "Extorre Gold Mines Limited (TSX:XG - News)(AMEX:XG - News)(Frankfurt:E1R - News), "Extorre" or the "Company") is pleased to announce that high grade gold-silver results continue to be returned from drilling on the Zoe discovery at Cerro Moro in Santa Cruz Province, Argentina." More
- May 31, 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 31 May, 2011 | |


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