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Gold Seeker Closing Report: Gold and Silver Gain With Stocks and Oil

By: Chris Mullen, Gold-Seeker.com



-- Posted 14 June, 2011 | |

 

Close

Gain/Loss

Gold

$1523.60

+$8.70

Silver

$35.41

+$0.56

XAU

194.64

+1.66%

HUI

509.39

+1.57%

GDM

1480.52

+2.41%

JSE Gold

2390.96

+1.66

USD

74.38

-0.12

Euro

144.55

+0.39

Yen

124.31

-0.36

Oil

$99.37

+$2.07

10-Year

3.099%

+0.108

T-Bond

125.1875

-1.50

Dow

12076.11

+1.03%

Nasdaq

2678.72

+1.48%

S&P

1287.87

+1.26%

 
 

 

The Metals:

 

Gold climbed $8.85 to $1523.75 in Asia before it fell in London and saw a $2.95 loss at $1511.95 by about 9AM EST, but it then rallied back higher in New York and ended with a gain of 0.57%.  Silver fell to as low as $34.408 in early New York trade before it also rallied back higher into the close and ended with a gain of 1.61%.

 

Euro gold fell to about €1052, platinum lost $1.25 to $1790.50, and copper gained 12 cents to about $4.15.

 

Gold and silver equities rose about 2% in the first hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

May

0.2%

0.1%

0.8%

Core PPI

May

0.2%

0.2%

0.3%

Retail Sales

May

-0.2%

-0.7%

0.3%

Retail Sales ex-auto

May

0.3%

0.2%

0.5%

Business Inventories

April

0.8%

1.0%

1.3%

 

Bernanke says debt limit delay could end badly  Reuters

Obama: If debt limit not raised, new financial crisis  Reuters

 

Tomorrow brings CPI, Empire Manufacturing, Net Long-Term TIC Flows, Industrial Production, and Capacity Utilization.

 

The Markets:

 

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

 

Oil rose on decent economic data in China and the US as the U.S. dollar index and treasuries fell on better than expected retail sales news that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Best Buy, HP, BofA, JPMorgan, Ericsson and Telcordia, and JDS Uniphase.

 

GATA Posts:

GoldMoney interview: Sean Fieler of the American Principles Project

Paul plans to question Treasury on gold reserve at June 23 hearing

GoldMoney posts video of GATA Chairman Murphy's presentation in Munich in April

 

The Statistics:

Activity from: 6/13/2011

Gold Warehouse Stocks:

11,294,568

-20,606

Silver Warehouse Stocks:

98,816,119

-1,999,340

 

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

1200.050

38,582,816

US$58,480m

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$5,628m

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$6,156m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,109

US$697m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.11

1,546,846

US$2,366m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,954

US$8m

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.545 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 141.32 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,707.98: -206.23 change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) ongoing operations, US Gold’s (UXG) proposed merger with Minera Andes (MNEAF.OB), and Great Panther’s (GPL) first quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  US Gold

UXG+6.36% $5.85

2.  Ivanhoe

IVN+5.86% $23.47

3.  Kimber

KBX +5.76% $1.47

 

LOSERS

1.  Gold Reserve

GRZ -2.77% $2.46

2.  Golden Star

GSS -2.48% $2.36

3.  DRDGOLD

DROOY-2.06% $4.75

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:

Majescor Announces Extension of Warrants - More
- June 14, 2011 | Item | ShareThis


Castle Peak Appoints Darryl Cardey to Board of Directors - More
- June 14, 2011 | Item | ShareThis


Pan American Lithium Corp. Provides Additional Details on Chilean Exploration - More
- June 14, 2011 | Item | ShareThis


Xtra-Gold Reports on the Annual and Special Meeting of Stockholders - More
- June 14, 2011 | Item | ShareThis


South American Gold Engages Atlanta Capital Partners for Investor Relations - More
- June 14, 2011 | Item | ShareThis


Copper Mountain Amends Stock Option Plan - More
- June 14, 2011 | Item | ShareThis


Commander Acquires New Gold Property in BC - More
- June 14, 2011 | Item | ShareThis


Takeover Offer by White Canyon Closing This Week - More
- June 14, 2011 | Item | ShareThis


Kent Updates Lyell Gold Project in New Zealand - More
- June 14, 2011 | Item | ShareThis


Ivernia Re-Files Q1 2011 Financial Statements - More
- June 14, 2011 | Item | ShareThis


Rusoro Mining Reports on its Loan Repayment Status - More
- June 14, 2011 | Item | ShareThis


Nevada Copper Expands North Deposit Intersecting 785 Feet of 0.73% Copper and 320 Feet of 1.08% Copper - More
- June 14, 2011 | Item | ShareThis


Ground Geophysics Survey Underway at African Queen’s Rongo Gold Fields Project in Kenya’s Lake Victoria Greenstone Belt - More
- June 14, 2011 | Item | ShareThis


1st TRANCHE NON-BROKERED PRIVATE PLACEMENT - More
- June 14, 2011 | Item | ShareThis


Soltoro Reports NI 43-101 Compliant Silver Resource at the El Rayo Primary Silver Deposit in Jalisco, Mexico - More
- June 14, 2011 | Item | ShareThis


Belmont Resources Inc.: Slovakian Supreme Court Rules in Favour of Talc Mine Ownership to Rozmin s.r.o. - More
- June 14, 2011 | Item | ShareThis


Mojave Gold Corporation Announces Platinum Group Minerals Exploration - More
- June 14, 2011 | Item | ShareThis


Estrella Announces Drill Program at Colpayoc Gold Project - More
- June 14, 2011 | Item | ShareThis


Williams Creek Changes its Name to Williams Creek Gold Limited - More
- June 14, 2011 | Item | ShareThis


NQ Mobilises Two Drill Rigs: Carheil Silver Project and Lac Shortt Gold Project - More
- June 14, 2011 | Item | ShareThis


Rae-Wallace Shareholders Approve Proposals at Special Meeting; Company Raises CDN$835,000 in Non-Brokered Placement - More
- June 14, 2011 | Item | ShareThis


Crazy Horse Appoints Robert Pease B.Sc., P.Geo as Chairman and Director - More
- June 14, 2011 | Item | ShareThis


Santa Fe Metals Acquires the Ahbau Creek Gold Prospect in BC - More
- June 14, 2011 | Item | ShareThis


Bravo Gold Corp. Closes First Tranche of Flow-Through Private Placement - More
- June 14, 2011 | Item | ShareThis


Golden Share Signs Definitive Purchase Agreement With Lake Shore Gold Corp. - More
- June 14, 2011 | Item | ShareThis


AngloGold Ashanti Ltd. Exercises Laurentian Goldfields Ltd. Warrants - More
- June 14, 2011 | Item | ShareThis


Infrastructure Materials Corp. - Discovery of New Hanging Wall Vein at Nivloc Project - More
- June 14, 2011 | Item | ShareThis


Golden Valley Mines Ltd.: 63.6 Metres Grading 1.50 gpt Gold Intersected at the Jeffrey Zone, Malartic CHL Prospect - More
- June 14, 2011 | Item | ShareThis


EurOmax Discovers New Gold Zones at Trun - More
- June 14, 2011 | Item | ShareThis


Sienna Gold Inc.: Igor Drilling Confirms High Grade Gold and Silver Mineralization, With Bonanza Gold and Silver Intercepts - More
- June 14, 2011 | Item | ShareThis


Entourage Commences Surface Exploration Program at Black Raven - More
- June 14, 2011 | Item | ShareThis


Vantex Intersects 72 Metres at .6 g/t Au on Galloway-Hendrick Zone - More
- June 14, 2011 | Item | ShareThis


Typhoon Exploration Inc. Confirms a New Gold Showing and Completes a Second Drilling Campaign on the Aiguebelle-Goldfields Property - More
- June 14, 2011 | Item | ShareThis


Williams Creek Releases Financial Statements & MD&A for the Financial Year Ended January 31, 2011 - More
- June 14, 2011 | Item | ShareThis


Amerigo Announces Q1-2011 Financial Results - More
- June 14, 2011 | Item | ShareThis


Uranium Energy Corp Signs First Multi-Year Sales Contract - More
- June 14, 2011 | Item | ShareThis


Ditem: Lac Henri Rare Earth Exploration Program Underway - More
- June 14, 2011 | Item | ShareThis


Otis Commences 10,000 Metre Drill Program at Kilgore - More
- June 14, 2011 | Item | ShareThis


China Gold International Resources Announces April and May Gold Production - More
- June 14, 2011 | Item | ShareThis


Newcastle Identifies Drill Targets on Chester Property - More
- June 14, 2011 | Item | ShareThis


Osisko Intersects 1.50 g/t Au Over 63.6 Metres at Jeffrey Zone - More
- June 14, 2011 | Item | ShareThis


Alto Ventures Ltd.: Drilling Intersects 5.18 g/t Gold at the East Coldstream Deposit, Ontario - More
- June 14, 2011 | Item | ShareThis


Cassius Ventures Ltd. Announces the Appointment of President and Corporate Secretary - More
- June 14, 2011 | Item | ShareThis


Bralorne Produces Gold - More
- June 14, 2011 | Item | ShareThis


Capstone and Far West Mining Approve Acquisition and KORES Agreement - More
- June 14, 2011 | Item | ShareThis


NEVADO Drills 53.1 Metres Grading 62.8% Fe2O3, 17.8% TiO2 and 0.09% V2O5 (FT-10-20) and 56.6 Metres Grading 58.1% Fe2O3, 17.2% TiO2 and 0.09% V2O5 - More
- June 14, 2011 | Item | ShareThis


Pacific Rim Mining Finalizes Hog Ranch Property Joint Venture Acquisition - More
- June 14, 2011 | Item | ShareThis


Alix Initiates 2011 Work at Golden Zone Property, Alaska - More
- June 14, 2011 | Item | ShareThis


Rockhaven Corporate Update - More
- June 14, 2011 | Item | ShareThis


Caribou Commences Drilling at Caribou Dome - More
- June 14, 2011 | Item | ShareThis


Gowest Gold Ltd. Retains Renmark Financial Communications Inc. - More
- June 14, 2011 | Item | ShareThis


Foundation Resources Inc.: Drilling Intersects 5.18 g/t Gold at the East Coldstream Deposit, Ontario - More
- June 14, 2011 | Item | ShareThis


Willow Creek Commences Drill Program at Hercules Gold & Silver Property, Nevada - More
- June 14, 2011 | Item | ShareThis


Minera IRL Announces Significant Resource Upgrade, Ollachea Project, Peru - More
- June 14, 2011 | Item | ShareThis


Prophecy Completes Spinout of Nickel Assets to Pacific Coast Nickel - More
- June 14, 2011 | Item | ShareThis


Pacific Coast Nickel Completes Acquisition of Nickel Assets - More
- June 14, 2011 | Item | ShareThis


Rob McEwen to Discuss Merger Details at US Gold's AGM in Toronto - "US Gold Corporation (NYSE:UXG - News)(TSX:UXG - News) - Rob McEwen, Chairman and CEO, invites you to attend US Gold's 2011 Annual General Meeting. Rob will be providing details on his proposed merger between US Gold and Minera Andes and how the combination will create a high growth, low-cost, mid-tier silver producer focused in the America's. In addition, he will also be discussing his outlook for gold and silver." More
- June 14, 2011 | Item | ShareThis


Nevsun Reports No Significant Impact from Volcanic Eruption in Eritrea - "Nevsun Resources Ltd. (TSX:NSU - News)(AMEX:NSU - News) is pleased to report that the earthquakes and associated volcanic eruption in Eritrea have had no impact on operations at the Bisha mine and management does not expect any future material impact to operations." More
- June 14, 2011 | Item | ShareThis


Great Panther Silver Reports Record Quarterly Net Income of $7 Million - "We are pleased to report that Great Panther continued to achieve record revenue, earnings from mining operations, and net income in our first quarter this year," said Kaare Foy, Executive Chairman. "We have also made some changes to strengthen both our board and management team which we believe will position us to continue to grow our business profitably in the future." More
- June 14, 2011 | Item | ShareThis


Rob McEwen Proposes Merger of US Gold and Minera Andes: Creating a High Growth, Low-Cost, Mid-Tier Silver Producer Focused in the Americas - "US Gold Corporation (NYSE:UXG - News)(TSX:UXG - News) and Minera Andes Inc. (TSX:MAI - News)(OTC.BB:MNEAF - News) announce that Rob McEwen, Chairman, CEO, and largest shareholder of both companies has proposed to combine these companies to create a high growth, low-cost, mid-tier silver producer focused in the Americas. Mr. McEwen's investment in the combined company (market close on June 13, 2011) would be approximately US$ 345 million." More
- June 14, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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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 14 June, 2011 | |


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