-- Posted 8 June, 2011 | |
| Close | Gain/Loss |
Gold | $1536.90 | -$5.80 |
Silver | $36.62 | -$0.46 |
XAU | 194.11 | -2.13% |
HUI | 508.62 | -2.22% |
GDM | 1480.61 | -2.31% |
JSE Gold | 2385.65 | -78.69 |
USD | 73.94 | +0.38 |
Euro | 145.70 | -1.19 |
Yen | 125.16 | +0.26 |
Oil | $100.74 | +$1.65 |
10-Year | 2.962% | -0.049 |
T-Bond | 126.9375 | +0.71875 |
Dow | 12048.94 | -0.18% |
Nasdaq | 2675.38 | -0.97% |
S&P | 1279.56 | -0.42% |
The Metals:
Gold fell $12.04 to $1530.66 by a little after 8AM EST before it shot up in early New York trade and saw a slight gain at $1542.81 about an hour and a half later, but it then drifted back lower into the close and ended with a loss of 0.38%. Silver dropped to as low as $36.059 before it rallied back higher in New York, but it still ended with a loss of 1.24%.
Euro gold climbed back over €1052, platinum lost $5.50 to $1818.50, and copper fell 4 cents to about $4.11.
Gold and silver equities fell over 2% by late morning and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
MBA Mortgage Index | 6/04 | -0.4% | - | -4.0% |
The fed’s Beige Book “said the economy expanded at a “steady pace” in most of the U.S. while slowing in four of 12 regions as consumers contended with higher food and fuel prices and shortages of parts reduced auto production.”
Fed: U.S. default a huge risk; Fitch may slash rating Yahoo
China warns U.S. debt-default idea is "playing with fire" Reuters
Dimon Asks Bernanke Whether He ‘Has Fear Like I Do’ About U.S. Regulation Bloomberg
Recovery Still Needs Stimulus: Bernanke Bloomberg
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 6/04 expected at 423,000 and the Trade Balance for April expected at -$48.7 billion. At 10AM is the Wholesale Inventories report for April expected at 0.9%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed back above $100 a barrel after OPEC surprisingly failed to come to a decision on output levels. The Energy Information Administration reported that crude inventories fell 4.9 million barrels, gasoline inventories rose 2.2 million barrels, and distillates rose 810,000 barrels.
The U.S. dollar index rose on concerns over global economic growth that encouraged cash raising.
Treasuries remained higher after today’s $21 billion 10-year note auction drew a high yield of 2.967% with a bid to cover of 3.23.
The Dow, Nasdaq, and S&P fell on worries over rising oil prices and poor earnings reports.
Among the big names making news in the market today were Morgan Stanley, Wells Fargo, Facebook, Axa and Citigroup, and McDonald’s.
The Statistics:
Activity from: 6/07/2011
Gold Warehouse Stocks: | 11,214,185 | - |
Silver Warehouse Stocks: | 101,014,684 | -7,683 |
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$59,937m |
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$5,703m |
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$6,241m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,141 | US$702m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 47.99 | 1,543,001 | US$2,384m |
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 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,914.21: +28.81 change from yesterday’s data.
The Miners:
Pretivm’s (PVG.TO) drill results, Revett’s (RVM) exploration drilling and litigation, Kimber’s (KBX) updated PA, and Silver Quest’s (SQI.V) exploration activities were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Reserve | GRZ +3.59% $2.02 |
2. Buenaventura | BVN+2.24% $36.98 |
3. Entree | EGI +0.97% $2.09 |
LOSERS
1. Gold Resource | GORO-10.04% $23.74 |
2. Endeavour Silver | EXK -8.50% $7.97 |
3. Minco Gold | MGH -8.15% $1.69 |
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:
Bullion Monarch Launches Bauxite Exploration in Brazil - More
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SouthGobi Resources Renews Common Share Repurchase Program - More
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Arcus Starts 2011 Dawson Gold Program - More
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Augusta Resource Provides Board of Directors Update - More
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VMS Ventures Drills 13.41 Metres of 1.48 g/t Gold; Outlines Gold Mineralization on Its Sails Lake Project Near Snow Lake, Manitoba - More
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Greenwood Gold Resources Inc. Provides Corporate Update - More
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Portage & Freewest JV Releases Further Drill Results of 0.79 g/t Gold Over 80.19 Metres Including 1.00 g/t Gold Over 36.75 Metres From Golden Ridge, New Bru - More
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Iron Creek Retains Investor Relations Consultants - More
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Lake Shore Gold Announces Management Appointments, Creates Distinct Operations and Project Teams - More
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Creso Announces Drill Results From the Duggan Zone at Shining Tree - More
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Castle Resources Starts Drilling at the Granduc Copper Project, B.C. - More
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Ubika Research Provides Commentary Update -- Potential Porphyry Copper Gold System at Huicicila Can Transform Focus Gold's Prospects - More
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Cadan Reports Results From Its Tagpura Copper-Gold Project - More
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American Bonanza Sells Iskut JV Property - More
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Cascadero Copper Corporation: Oculto Mineral District - More
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Ethos Commences Exploration in the White Gold District, Yukon - More
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Uranium North Mobilizes Drill to the Amer Lake Property - More
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Jourdan Plans Spin Out of Uranium Asset - More
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Abcourt Mines Inc.: Amendment to the Stock Option Plan and Grant of Stock Options in Favor of Directors - More
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Gold Bullion Identifies Strong, New Vein Structure at Castle Silver Mine, Gowganda - More
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Viking Minerals Provides an Update on Its Dolly Varden Gold and Copper Property in Mineral-Rich Elko County, Nevada - More
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Evolving Gold Intersects 14.7 Meters at 8.76 gpt Gold Carlin Trend, Nevada - More
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OREX: Update on Drilling Campaign at Goldboro - More
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Velocity Minerals Ltd. Announces Completion of Staking of 40 Additional Claims at Orogrande - More
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B2Gold Corp. Announces Further Positive Exploration Drill Results from La Libertad Mine Property in Nicaragua, Increasing the Size of the Jabali and Mojon - More
- June 08, 2011 | Item | ShareThis
Minemakers Limited: Sandpiper Joint Venture Definitive Feasibility Study Progress - More
- June 08, 2011 | Item | ShareThis
Columbus Gold Accelerates Earn-In Terms for 1.9 Million oz. Paul Isnard Gold Project - More
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Wolverine Closes $5.4 Million in Private Placements - More
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Skyline Gold Acquires Key Properties and Substantially Concludes Its Land Consolidation Program - More
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Drilling at Curraghinalt Intersects 2.06 Metres Grading 111.6 g/t of Gold And 1.11 Metres Grading 26.84 g/t of Gold - More
- June 08, 2011 | Item | ShareThis
Orosur Mining Inc. Production Update - More
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Quest and Partner Search Minerals Drills New REE Zone South of the B-Zone, Returns 1.78% TREO Over 24.0 M, Strange Lake Area, Labrador - More
- June 08, 2011 | Item | ShareThis
Teuton to Drill Tennyson, High Properties; Begin Work on Clone, Yellow Chris and Red Chris South Properties - More
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Concordia Resource Corp. Announces Commencement of Summer Drill Campaign - More
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Logan Announces Property Acquisition - More
- June 08, 2011 | Item | ShareThis
Foundation Acquires 70% Interest in a High-Grade Gold-Silver Project in Mexico - More
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Sagebrush Gold Announces Acquisition of Red Rock and North Battle Mountain Exploration Rights in Northern Nevada - More
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Continental Nickel Announces Appointment of Study Manager for Ntaka Hill - More
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Gold Finder Intersects Gold Mineralization at Emerald Lake - More
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Cardero Names Michael Hunter President & Files NI 43-101 Resource Estimate on Carbon Creek Project - More
- June 08, 2011 | Item | ShareThis
Great Western Minerals Group Appoints Elizabeth Nash as Corporate Secretary - More
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Signing of a CA$10 Million Agreement With Quadra FNX on the Lac Gayot Project - More
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Drilling at Reno Creek Uranium Project, Wyoming Shows Positive Results - More
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Tahoe Resources Updates Escobal Drilling -- Expands Known Mineralization - More
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Rodinia Lithium Intersects High Grade Lithium and Potash and Provides Project Update on Salar de Diablillos - More
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Alexis Initiates Turnaround Plan for Lac Herbin Mine - More
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U3O8 Corp. Identifies Tenth Uranium-Bearing Structure in the Kurupung Project, Guyana - More
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Canaco Drills 57.7 Metres at 3.02 Grams Per Tonne Gold and 34.0 Metres at 3.71 Grams Per Tonne Gold From Magambazi and Magambazi Central - More
- June 08, 2011 | Item | ShareThis
Molycor Gold Corp.: Phase I Drilling Commences on the Beaverdell Silver Property - More
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Fairmont Commences Exploration on Marmion South Contact Property, Ontario - More
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RX Exploration Announces Court-Ordered Adjournment of Shareholders' Meeting to July 6, 2011, Allowing Shareholders to Vote for Superior Slate of Directors - More
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Revett Advances Troy Mine Exploration and Progresses Rock Creek Litigation - "Exploration core drilling at Revett Minerals' Troy Mine in western Montana has identified an additional 1.2 million tons of indicated resource (1,157,946 tons at a grade of 1.07 opt silver and 0.41% copper estimated as of June 1, 2011) in the C Bed mining horizon, approximately a 50% increase of the C Bed inferred resources that were reported January 8, 2011." More
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Pretium Resources Inc.: Brucejack's Valley of the Kings Drilling Intersects 18,755 Grams per Tonne Gold - "Pretium Resources Inc. (TSX:PVG - News) ("Pretivm") is pleased to report that one of the first holes drilled in the 2011 Brucejack Project exploration program has encountered the highest-grading gold intersection to date on the property." More
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Kimber Announces Updated Preliminary Assessment and Mineral Resource Estimate for Monterde Gold-Silver Project, Mexico - "Kimber Resources Inc. (NYSE AMEX:KBX, TSX:KBR) is pleased to announce that it has received the results of an updated independent Preliminary Assessment ("PA") prepared by Micon International Limited. ("Micon"), with assistance by Kirkham Geosystems Ltd., Knight Piésold Consulting Ltd. and various consultants employed directly by Kimber on its 100% owned Monterde project, located in Mexico's Sierra Madre mining district. This National Instrument 43-101 compliant PA is based on the updated mineral resource estimate for the Carmen deposit and the existing mineral resource estimate for the Veta Minitas deposit at Monterde prepared by Micon. The PA is based on combined open pit and underground mining and a focus on the high grade gold-silver mineralization and demonstrates significantly improved financial outcomes compared to the initial PA, a summary of which was discussed in a news release issued by Kimber on June 2, 2010." More
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Silver Quest Commences Exploration on the 3Ts Project, B.C. - "Silver Quest Resources (TSX VENTURE:SQI - News; "Silver Quest" or "the Company") is pleased to announce the commencement of 2011 exploration activities on its 3Ts Project in central British Columbia, located approximately 120 kilometres southwest of Vanderhoof. For additional information please visit the Company's website www.silverquest.ca." More
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- Chris Mullen, Gold Seeker Report
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-- Posted 8 June, 2011 | |