The Premier Silver Resource Website
Visit GoldSeek.com
Visit GoldReview.com
Visit UraniumSeek.com

- CLICK HERE TO VISIT THE NEW SILVERSEEK.COM -
Live Spot Silver
Navigation
Silver Market Articles
Silver Discussions at the Forum
Silver Company Links
Silver Market Updates
Silver & Gold Headlines
Silver Stock News
Silver Equity Quotes
Silver & Precious Metals Quotes







 
Gold Seeker Closing Report: Gold and Silver Gain While Stocks Fall

By: Chris Mullen, Gold-Seeker.com



-- Posted 6 June, 2011 | |

 

Close

Gain/Loss

Gold

$1545.60

+$4.40

Silver

$36.82

+$0.71

XAU

199.03

-2.09%

HUI

521.76

-2.87%

GDM

1520.49

-2.94%

JSE Gold

2510.68

-32.15

USD

74.01

+0.30

Euro

145.68

-0.66

Yen

124.81

+0.40

Oil

$99.01

-$1.21

10-Year

3.002%

+0.005

T-Bond

126.8125

-0.21875

Dow

12090.18

-0.50%

Nasdaq

2702.56

-1.1%

S&P

1286.17

-1.08%

 
 

 

The Metals:

 

Gold climbed to $1547.83 in Asia before it fell back to $1540.80 in London, but it then rose to a new session high of $1553.39 in New York and ended with a gain of 0.29%.  Silver climbed to as high as $37.268 in New York and ended with a gain of 1.97%.

 

Euro gold rose to over €1058, platinum lost $4.75 to $1809.25, and copper climbed slightly to about $4.14.

 

Gold and silver equities waffled near unchanged for most of the morning, but they then headed lower in afternoon trade and ended with over 2% losses.

 

The Economy:

 

There were no major economic reports today.  Tomorrow at 3PM EST brings Consumer Credit for April expected at $6.0 billion.

 

The Markets:

 

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

 

Oil fell ahead of this week’s OPEC meeting while the U.S. dollar index rose on worries over whether or not Greece will receive the aid they need.

 

Treasuries fell ahead of this week’s sale of $66 billion in notes and bonds.

 

The Dow, Nasdaq, and S&P fell on worries over weak economic growth.

 

Among the big names making news in the market today were Apple, Ariad, and Merck.

 

GATA Posts:

James Turk and his charts show gold smashing the currencies

J.S. Kim on the paper shuffling that disguises precious metal shortages

Gene Arensberg: Tired of 'dire'?

Golden State is poised to outlaw gold prospecting

Alasdair Macleod: Catch 22 for the Fed

All we can do is to do things to try to hasten the day

'Financial repression' of negative rates is likely Fed policy for decade, Rickards says

Paul dismisses speaker's debt cut demand

Questioned by Paul, Fed denies any interest in gold

 

The Statistics:

Activity from: 6/02/2011

Gold Warehouse Stocks:

11,146,911

+12,654

Silver Warehouse Stocks:

101,121,914

+487,509

 

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

1212.866

38,994,859

US$60,377m

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$5,728m

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$6,274m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,152

US$706m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

47.75

1,535,311

US$2,355m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,955

US$8m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 139.04: +1.16 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,885.40: -51.56 change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend, Midway’s (MDW) closed offering, Claude’s (CGR) first quarter results, Exeter’s (XRA) prefeasibility study, and SilverCrest’s (SVL.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Midway

MDW +5.56% $1.71

2.  Gold Reserve

GRZ +3.30% $1.88

3.  Vista Gold

VGZ +2.13% $2.88

 

LOSERS

1.  Buenaventura

BVN-14.96% $35.75

2.  Endeavour Silver

EXK -7.66% $8.56

3.  Gold Fields

GFI -6.48% $14.87

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:

Rio Novo Gold: Annual General Meeting - More
- June 06, 2011 | Item | ShareThis


Gold Bag's Name Change to Focus Gold Corporation, Ticker FGLD, Approved by FINRA and Is Effective Immediately - More
- June 06, 2011 | Item | ShareThis


Rainy River Resources Announces Appointment of Director of Investor Relations - More
- June 06, 2011 | Item | ShareThis


Greystar Resources Announces Election of New Board of Directors - More
- June 06, 2011 | Item | ShareThis


Opawica Explorations Inc.: News Release - More
- June 06, 2011 | Item | ShareThis


Balmoral Grants Stock Options - More
- June 06, 2011 | Item | ShareThis


Lithium Exploration Group Pays for Manufacturing of Ultrasonic Generator - More
- June 06, 2011 | Item | ShareThis


Standard Gold to Present at Undiscovered Equities Spring Conference on June 8 - More
- June 06, 2011 | Item | ShareThis


Olympus' CEO to Present at Euro Pacific Global Investment Conference - More
- June 06, 2011 | Item | ShareThis


Peruvian Mining Stocks Plunge as Humala Claims Election Victory - "Minas Buenaventura SA led a plunge in Peru’s mining stocks as former army rebel Ollanta Humala claimed victory in yesterday’s presidential election." More
- June 06, 2011 | Item | ShareThis


Ethos Acquires 1,460 Additional Claims By Staking in the White Gold District, Dawson Range, Yukon - More
- June 06, 2011 | Item | ShareThis


Wolverine Commences Work on Dawson Range Properties - More
- June 06, 2011 | Item | ShareThis


BacTech Signs Memorandum of Understanding With TW SEOP, S.C. - More
- June 06, 2011 | Item | ShareThis


Hudson Retains Brisco Capital to Provide Investor Relation Services - More
- June 06, 2011 | Item | ShareThis


Gowest Gold Appoints New Board Member - More
- June 06, 2011 | Item | ShareThis


Sacre-Coeur Minerals Engages B & D Capital Partners as Corporate Financial Advisor - More
- June 06, 2011 | Item | ShareThis


California is poised to outlaw gold prospecting - "There's gold in them thar hills, but pretty soon you won't be allowed to touch it. In California, the state built on gold, the time is up for prospectors who are about to see their way of life declared illegal. Just 162 years after history's biggest gold rush, diggers - or dredgers as they now are - are losing a long-running battle with environmentalists." More
- June 06, 2011 | Item | ShareThis


Pershimco Finalizes a Private Placement of $6,000,000 With Strategic Partners - More
- June 06, 2011 | Item | ShareThis


Copper Mountain Mine Processes First Ore - More
- June 06, 2011 | Item | ShareThis


AM Gold Announces Significant Resource Estimate Increase at Pinaya - More
- June 06, 2011 | Item | ShareThis


First Uranium Provides Updates on Operations and Financial Results - More
- June 06, 2011 | Item | ShareThis


Canasil Drilling Intersects Both High-Grade and Disseminated Mineralization in Three Veins at Sandra-Escobar Project in Durango State, Mexico - More
- June 06, 2011 | Item | ShareThis


2011 La Verde Drill Program returns 0.76% Cu, 0.2 g/t gold over 175 meters - More
- June 06, 2011 | Item | ShareThis


Great Western Minerals Group CEO Testifies Before U.S. Congress Regarding Pending Critical Minerals and Rare Earth Legislation - More
- June 06, 2011 | Item | ShareThis


GoldQuest Announces the Granting of Loma Oculta Exploration Concession and Immediate Initiation of an Exploration Program - More
- June 06, 2011 | Item | ShareThis


Castle Peak Reports 7.5m of 7.2 g/t Au Including 2.2 m of 24.2 g/t Au from Apankrah; Secures Second Drill Rig for Q4 - More
- June 06, 2011 | Item | ShareThis


Malbex Reports 104 Metres at 1.96 g/t Gold and 25.2 g/t Silver at Rojo Grande; and a New, Near-Surface Gold Zone at Cerro Amarillo - More
- June 06, 2011 | Item | ShareThis


Brazilian Gold Continues to Intersect Significant Gold Mineralization at Its Recent Discovery on the Rio Novo Project, Northern Brazil - More
- June 06, 2011 | Item | ShareThis


Zone Resources Inc. Expands the Known Zone of Iron Mineralization at the Moore-Ross Mountain Property, Quebec - More
- June 06, 2011 | Item | ShareThis


Sage Board Appoints Hua Bai Director - More
- June 06, 2011 | Item | ShareThis


Otterburn Appoints President - More
- June 06, 2011 | Item | ShareThis


Edgewater Increases Non-Brokered Private Placement to $11,000,000 - More
- June 06, 2011 | Item | ShareThis


Fission Energy Corp and ESO Commence Ground Work at Patterson Lake South, Athabasca Basin, Saskatchewan - More
- June 06, 2011 | Item | ShareThis


La Quinta Resources Receives Drilling Permits for the Easter Project, SE Nevada - More
- June 06, 2011 | Item | ShareThis


Galahad Metals Inc.: Phase II Drilling and Surface IP Survey Completed at Regcourt Property - More
- June 06, 2011 | Item | ShareThis


Andover Mobilizes Drill and Crew to Sun Property Alaska for 2011 Program - More
- June 06, 2011 | Item | ShareThis


Soldi Ventures Inc. Continues Exploration on its Rainy River Project - More
- June 06, 2011 | Item | ShareThis


Avrupa and Antofagasta Minerals S.A. Sign Exploration Agreement in Portugal - More
- June 06, 2011 | Item | ShareThis


NQ Exploration Inc./Carheil Project-Selbaie District: Ag1 Zone Still Present Near Surface - More
- June 06, 2011 | Item | ShareThis


High River Reaches Settlement With Senet CC - More
- June 06, 2011 | Item | ShareThis


Aquila to Commence Trading on OTCQX - More
- June 06, 2011 | Item | ShareThis


Sandstorm Gold Announces 48 Metres of 3.29 g/t at Luna Gold's Aurizona Mine - More
- June 06, 2011 | Item | ShareThis


Orvana Completes US$15 Million Bridge Loan - More
- June 06, 2011 | Item | ShareThis


Focus Provides Peru Exploration Update - More
- June 06, 2011 | Item | ShareThis


Drilling has commenced at Radius' Sixty Mile Project, Yukon Territory - More
- June 06, 2011 | Item | ShareThis


Update on Niocan's Private Placement Financing with Forbes & Manhattan - More
- June 06, 2011 | Item | ShareThis


Cream Minerals Reports Assay Results for the Nuevo Milenio Silver-Gold Project, Mexico - More
- June 06, 2011 | Item | ShareThis


Serengeti Provides Exploration Update - More
- June 06, 2011 | Item | ShareThis


Luna Gold Drills 48.00 Meters @ 3.29 g/t Au Including 12.00 Meters @ 7.93 g/t Au at Aurizona - More
- June 06, 2011 | Item | ShareThis


Lithium Corporation Commences Drilling at Salt Wells - More
- June 06, 2011 | Item | ShareThis


Auriga Gold Engages Engineering and Environmental Consultants to Its Development Team for the Maverick Gold Project - More
- June 06, 2011 | Item | ShareThis


San Marco to Raise $1 Million in Private Placement - More
- June 06, 2011 | Item | ShareThis


North Bay Resources Inc. (NBRI) to Advance Pre-Production Planning at Ruby Gold Project With 3-D Digital Mapping Survey - More
- June 06, 2011 | Item | ShareThis


Dunav Resources Ltd. Announces TSX Venture Exchange Acceptance of Transaction and Closing of Private Placement - More
- June 06, 2011 | Item | ShareThis


Standard Gold Secures First Gold & Silver Concentrates Processing Agreement Under New Business Model - More
- June 06, 2011 | Item | ShareThis


Primero to Begin Selling 50% of Silver at Spot - More
- June 06, 2011 | Item | ShareThis


Quantum Rare Earth Developments Corp. adds New Director and Advisory Board Members - More
- June 06, 2011 | Item | ShareThis


Harte Lists Common Shares on Toronto Stock Exchange - More
- June 06, 2011 | Item | ShareThis


Sunridge Gold Announces Drill Results from Gupo Gold Deposit, Asmara Project, Eritrea - More
- June 06, 2011 | Item | ShareThis


Independent Proxy Firms Recommend Creston Shareholders Vote for Merger with Mercator Minerals Ltd. - More
- June 06, 2011 | Item | ShareThis


Matamec Makes a Higher Value Rare Earths Concentrate from the Eudialyte Zone of the Kipawa Deposit - More
- June 06, 2011 | Item | ShareThis


Foran Announces Appointment of Corporate Secretary and Grant of Stock Options - More
- June 06, 2011 | Item | ShareThis


Hunter Bay Minerals Enters Into Agreement to Acquire Operating Rights in Mazuruni and Puruni Areas of Guyana - More
- June 06, 2011 | Item | ShareThis


Caribou Commences Mobilization and Work Programs on Yukon Gold, Silver and Base Metal Properties - More
- June 06, 2011 | Item | ShareThis


Greenwood Gold Resources Launches New Website - More
- June 06, 2011 | Item | ShareThis


First Uranium announces financial results for the three and twelve months ended March 31, 2011 - More
- June 06, 2011 | Item | ShareThis


Belo Sun Expands Mineral Rights from 195 Square km to 1,305 Square km, Adds 130 km Extension in Belt Hosting Volta Grande Deposits - More
- June 06, 2011 | Item | ShareThis


Castillian Intersects 1.60 Grams Gold Per Tonne Over 16.9 Metres in Near Surface Pit Zone at Hope Brook Project, Newfoundland - More
- June 06, 2011 | Item | ShareThis


Reservoir Appoints Serbian Advisor - More
- June 06, 2011 | Item | ShareThis


Avion Increases Its Interest in the Kofi Gold Project from 81.25% to 93.75% - More
- June 06, 2011 | Item | ShareThis


Canadian Zinc Corporation: Exploration Drill Program Commences at Prairie Creek Mine - More
- June 06, 2011 | Item | ShareThis


Firestone Ventures Spring 2011 Exploration Update - More
- June 06, 2011 | Item | ShareThis


Michael Thicke Appointed President of Cobriza Metals Corp. - More
- June 06, 2011 | Item | ShareThis


Nirek Resources Inc. Announces the Acquisition of 1.25 Million Warrants to Purchase Shares of Common Stock of Silver Dragon Resources Inc. - More
- June 06, 2011 | Item | ShareThis


Ucore Acquires New Strategic Rare Earth Properties in Alaska - More
- June 06, 2011 | Item | ShareThis


Goldcorp Declares Sixth Monthly Dividend Payment for 2011 - "GOLDCORP INC. (TSX:G.to - News) is pleased to declare its sixth monthly dividend payment for 2011 of $0.034 per share. Shareholders of record at the close of business on Thursday, June 16, 2011 will be entitled to receive payment of this dividend on Friday, June 24, 2011 resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends." More
- June 06, 2011 | Item | ShareThis


Nev. Senate panel OKs mining tax deductions deal - "A tentative deal was struck, then amended, late Sunday revising deductions the mining industry in Nevada can take before state taxes are calculated.

The Senate Revenue Committee amended and approved SB493, which strikes out portions of Nevada law that allowed mining companies to write off marketing costs and fire insurance. It also eliminates deductions for employee housing, severance pay, out-of-state travel and federal, state or local taxes." More
- June 06, 2011 | Item | ShareThis


Midway Gold Closes US$12 Million Bought Deal Offering - "Midway Gold Corp. ("Midway" or the "Company") (MDW:TSX-V; MDW:NYSE-AMEX) has closed its previously announced bought deal offering in Canada and the United States for aggregate gross proceeds of US$12 million, through the issue of 7,500,000 common shares at a price of US$1.60 per common share." More
- June 06, 2011 | Item | ShareThis


Claude Resources Inc. Reports First Quarter Results - "Claude Resources Inc. ("Claude" or the "Company") today reported its first quarter financial and operating results. For the quarter ended March 31, 2011, the Company recorded a net profit of $1.8 million, or $0.01 per share. This compares to a net loss of $1.6 million for the comparable period in 2010, or $0.01 per share." More
- June 06, 2011 | Item | ShareThis


SilverCrest Reports Additional La Joya Drill Results, More High Grade Silver Intercepts-Mineralized Strike Length Doubles - "SilverCrest Mines Inc. (the "Company") (TSX-V:SVL - News) is pleased to announce that it has completed a total of 20 core holes for approximately 4,300 metres of a planned Phase I, 25 hole program at its La Joya Property in Mexico. This phase of drilling has confirmed the continuity of the shallow dipping mantos and the mineralized, vertical cross structures and has doubled the strike length of the mineralization to approximately 700 metres. The La Joya Property is located approximately 75 kilometres southeast of the city of Durango, Mexico. The property is located in a prolific mineralized region which currently supports several mining operations including Grupo Mexico's, San Martin Mine, Industrias Penoles,' Sabinas Mine, Pan American Silver's, La Colorada Mine and First Majestic Silver's, La Parrilla Silver Mine. Please reference our website at www.silvercrestmnes.com for more information, photos and figures on La Joya." More
- June 06, 2011 | Item | ShareThis


Exeter Completes Positive Prefeasibility Study for Its Caspiche Oxide Gold Deposit - "Exeter Resource Corporation (TSX:XRC - News)(AMEX:XRA - News)(Frankfurt:EXB - News) ("Exeter" or the "Company") is pleased to announce the Oxide Gold Prefeasibility Study for its Caspiche Project in northern Chile has returned a NPV(5) of US$329.5 million and net operating costs of US$524/ounce gold. Average annual production over the five year mine life would be 210,000 ounces gold and 364,000 ounces silver." More
- June 06, 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 6 June, 2011 | |


Latest Articles


Gold Seeker Closing Report: Gold and Silver Fall Over 2% More
13 December, 2011

Gold Seeker Closing Report: Gold and Silver Fall Almost 3%
12 December, 2011

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Slightly on the Week
9 December, 2011

Gold Seeker Closing Report - Article Archive List

SilverSeek.com is presented to you by:

© 2003 - 2011
SilverSeek.com, Silver Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of SilverSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on SilverSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Disclaimer

The views contained here may not represent the views of SilverSeek.com, its affiliates or advertisers. SilverSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of SilverSeek.com, is strictly prohibited. In no event shall SilverSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.