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Gold Seeker Closing Report: Gold and Silver Gain With Stocks

By: Chris Mullen, Gold-Seeker.com



-- Posted 20 June, 2011 | |

 

Close

Gain/Loss

Gold

$1541.10

+$3.50

Silver

$36.01

+$0.28

XAU

190.42

+0.16%

HUI

499.11

+0.49%

GDM

1449.08

+0.48%

JSE Gold

2361.33

+22.25

USD

75.05

-0.48

Euro

143.00

-0.07

Yen

124.56

-0.37

Oil

$93.26

+$0.25

10-Year

2.963%

+0.019

T-Bond

127.09375

-0.9375

Dow

12080.38

+0.63%

Nasdaq

2629.66

+0.50%

S&P

1278.36

+0.54%

 
 

 

The Metals:

 

Gold fell $4.77 to $1532.83 by about 8:20AM EST before it rallied up to $1546.55 in early New York trade and then fell back off a bit in late morning trade, but it still ended with a gain of 0.23%.  Silver dropped 47 cents to $35.26 before it surged to as high as $36.095 by about 9:30AM EST and then also fell back off a bit, but it still ended with a gain of 0.78%.

 

Euro gold climbed to €1077, platinum closed at $1728.00, and copper fell a few cents to about $4.08.

 

Gold and silver equities traded mostly slightly higher and ended with modest gains.

 

The Economy:

 

Europe debt crisis shadows Fed meeting on economy  Yahoo

Debt ceiling: Time's running out  Yahoo

OECD's Gurria sees no global double-dip slump  Reuters

Bernanke May Face ’Self-Induced Paralysis’  Bloomberg

 

Tomorrow at 10AM EST brings Existing Home Sales for May expected at 4,790,000.

 

The Markets:

 

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

 

Oil fell to a new 4 month low in early trade on worries over global energy demand, but it ultimately ended with a small gain on hopes that problems in Greece and the rest of Europe will be resolved soon.

 

The U.S. dollar index fell as the euro rose on reassurance that a solution for Greece’s debt problems will be implemented.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose on easing worries over Greece’s debt.

 

Among the big names making news in the market today were JC Penny, Airbus, Boeing, and PNC and RBC Bank.

 

GATA Posts:

China issues more gold and silver coins to meet soaring demand

For South Africa's sickened gold miners, a long wait for justice

 

The Statistics:

Activity from: 6/17/2011

Gold Warehouse Stocks:

11,365,074

+25,051

Silver Warehouse Stocks:

99,876,971

-87,775

 

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

1209.142

38,875,115

US$60,007m

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$5,712m

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$6,252m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,077

US$704m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.11

1,546,676

US$2,388m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,954

US$8m

Note: Change in Total Tonnes from Thursday’s data: SPDR added 9.092 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 141.70: +0.38 change from Thursday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,626.10: -39.42 change from Thursday’s data.

 

The Miners:

 

Gold Fields’ (GFI) acquisition, Almaden’s (AAU) proposed sale, IAMGOLD’s (IAG) preliminary economic assessment, Seabridge’s (SA) Preliminary Feasibility Study, Comstock’s (LODE) new safety professional, Brigus Gold’s (BRD) drill results, Gold Resource’s (GORO) property acquisition, and ECU Silver’s (ECU.TO) assay results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Resource

GORO +9.95% $24.30

2.  Great Panther

GPL +9.90% $3.33

3.  Northern Dynasty

NAK +7.57% $9.24

 

LOSERS

1.  Gold Reserve

GRZ -13.04% $2.60

2.  Vista Gold

VGZ -4.07% $2.59

3.  Minco Gold

MGH -3.29% $1.47

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:

Mega Commences High Resolution Em and Magnetic Geophysical Survey on the Satterly Gold Project - More
- June 20, 2011 | Item | ShareThis


Oromin Explorations Ltd.: OJVG Gold Project-Q3 Exploration Outlook - More
- June 20, 2011 | Item | ShareThis


Portex Minerals Inc. Announces Issuance of Shares for Debt - More
- June 20, 2011 | Item | ShareThis


EPM Mining Ventures Inc. to Commence Trading on the TSX Venture Exchange - More
- June 20, 2011 | Item | ShareThis


Lateegra Gold Corp. Announces Filing of Technical Report and Commencement of Its 2011 Drill Program on Its Desantis Project, Ontario - More
- June 20, 2011 | Item | ShareThis


Harvest Gold Corporation: Rosebud Mine, Nevada, Phase II Drill Results - More
- June 20, 2011 | Item | ShareThis


Grizzly Applies to Extend Warrant Term - More
- June 20, 2011 | Item | ShareThis


Ensurge Provides Update on Campos Project in Brazil - More
- June 20, 2011 | Item | ShareThis


Bison Gold Resources Inc. Closes Second and Final Tranche of Flow-Through and Non-Flow-Through Private Placement Financing and Provides Exploration Update - More
- June 20, 2011 | Item | ShareThis


Silver Predator Options Illinois Creek Silver-Gold Property in Alaska - More
- June 20, 2011 | Item | ShareThis


Prodigy Drilling Identifies Areas for Open Pit Expansion at Magino: 128 metres grading 1.37 gpt Gold - More
- June 20, 2011 | Item | ShareThis


Resinco(R) Capital Partners Inc. Releases May 2011 Net Asset Value - More
- June 20, 2011 | Item | ShareThis


Brionor Resources Inc. Announces 43-101 Technical Report and Audited Preliminary Resource Estimate for the Pitt Gold Project as Well as Changes - More
- June 20, 2011 | Item | ShareThis


Trelawney Intersects 337.00 Metres of 0.94 g/t Gold at Cote Lake - More
- June 20, 2011 | Item | ShareThis


ECU Silver Discover New High Grade Zone on Nazas Property in Durango, Mexico - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to report the results from developing a new vein on the Nazas property which included assays grading up to 6.18 grams per tonne (g/t) gold (Au) and 2,755 g/t silver (Ag)." More
- June 20, 2011 | Item | ShareThis


Confederation Minerals Ltd.: Step-Out Drilling Discovers More High Grade Gold at Newman Todd - More
- June 20, 2011 | Item | ShareThis


Denison to Proceed to Compulsory Acquisition of White Canyon Uranium Limited - More
- June 20, 2011 | Item | ShareThis


Bearing Options Zymo Copper-Gold Project in British Columbia - More
- June 20, 2011 | Item | ShareThis


Orezone Bomboré Gold Project Has Positive Preliminary Economic Assessment - More
- June 20, 2011 | Item | ShareThis


Evolving Gold Intersects 15.7 Meters at 5.08 gpt Gold Carlin Trend, Nevada - More
- June 20, 2011 | Item | ShareThis


El Tigre Information Available Through Standard & Poor's Corporation Records Listing Program - More
- June 20, 2011 | Item | ShareThis


Riverstone Reports Multiple Mineralized Intervals From Nami - More
- June 20, 2011 | Item | ShareThis


Gold Fields Ghana Acquisition Approved - "Further to the announcement on 15 April 2011, Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that its shareholders have overwhelmingly approved the US$667 million acquisition of IAMGOLD Corporation's 18.9% stake in the Tarkwa and Damang gold mines in Ghana. Of the 603 million shares (84% of total shares in issues) that were voted at a general meeting 93% were cast in favour of the transaction." More
- June 20, 2011 | Item | ShareThis


Edgewater Closes First Tranche of Private Placement and Kinross Gold Corporation Increases Investment - More
- June 20, 2011 | Item | ShareThis


First Mexican Gold Corp.: New Target Confirmation & Exploration Update for Shareholders - More
- June 20, 2011 | Item | ShareThis


BCM Resources Corporation Resumes Drilling at Shan South Molybdenum Discovery - More
- June 20, 2011 | Item | ShareThis


Manicouagan Completes Share Consolidation - More
- June 20, 2011 | Item | ShareThis


Pacific Bay Minerals Ltd.: Drilling Starts at Haskins-Reed Polymetallic Property, BC - More
- June 20, 2011 | Item | ShareThis


Almaden Agrees to Sell a Portion of Its Beanstalk Capital Shareholdings - "Almaden Minerals Ltd. ("Almaden" or "the Company") (TSX:AMM - News)(AMEX:AAU - News) has reached an agreement in principle with several proposed purchasers to assign and sell up to an aggregate of 8.25 million of the 37 million common shares of Beanstalk Capital Inc. ("Beanstalk") to be received by the Company upon appropriate regulatory approval for the sale of the Elk gold deposit as outlined in the Company's News Release of February 16, 2011. The sale and assignment will be at $0.355 per share. This transaction shows the ability of the Company to monetise assets created through its exploration and development business model. The sale will add to the Company's cash balance while at the same time reducing the Company's holdings in Beanstalk to a level at which it would no longer be necessary to consolidate the financial reporting of Beanstalk with that of the Company." More
- June 20, 2011 | Item | ShareThis


Estrella Gold Proposed Private Placement Financing - More
- June 20, 2011 | Item | ShareThis


Empire Mining Receives Additional Assays Confirming Continuity of Significant Copper-Gold Skarn Mineralization at Bursa-Demirtepe - More
- June 20, 2011 | Item | ShareThis


Brazilian Gold Becomes the Operator of the Boa Vista Gold Project, Northern Brazil, Securing a 51% Interest - More
- June 20, 2011 | Item | ShareThis


Atna's North Main Briggs Zone Expanding - More
- June 20, 2011 | Item | ShareThis


Force Energy Corp. Exploration Program Underway - More
- June 20, 2011 | Item | ShareThis


Alto Group Holdings Announces Permanent Corporate Housing and Offices Established Within Mali, West Africa - More
- June 20, 2011 | Item | ShareThis


Midlands Adds Hands-on West African Experience to Technical Team - More
- June 20, 2011 | Item | ShareThis


North Bay Resources Inc. (NBRI) Engages Mining Law Firm - More
- June 20, 2011 | Item | ShareThis


Seymour Ventures to Review Organic Rare Earths Processing Technology; Adds Solvent Extraction Expert Dr. Sinha to Advisory Board - More
- June 20, 2011 | Item | ShareThis


Mineral Mountain to Drill Extension of Historic Straw Lake Beach Mine-Straw Lake Gold Project, Northwestern Ontario - More
- June 20, 2011 | Item | ShareThis


Foran Corporate Update - More
- June 20, 2011 | Item | ShareThis


Diadem Announces New Equity Financing to Raise Up to $1,200,000 - More
- June 20, 2011 | Item | ShareThis


Redstar Gold Corp.: Newman Todd Step-Out Drilling Continues to Intersect High-Grade Gold - More
- June 20, 2011 | Item | ShareThis


Jacob Securities Initiates Coverage of Matamec Explorations - More
- June 20, 2011 | Item | ShareThis


First Point Announces Cliffs to Assume Management of 2011 Exploration Program on the Decar Nickel-Iron Alloy Project - More
- June 20, 2011 | Item | ShareThis


IAMGOLD Files Independent Technical Report for Niobec Mine Confirming 691% Increase in M&I Niobium Resources and a Potential Net Asset Value for Niobec - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) today announced that it has filed an independently prepared NI 43-101 compliant preliminary economic assessment ("PEA"), in the form of a NI 43-101 compliant technical report on the Company's wholly-owned Niobec niobium mine in the province of Quebec, Canada." More
- June 20, 2011 | Item | ShareThis


W. Thomas Hodgson Appointed Chairman of the Board of Lithium Americas and John Kanellitsas Elected as Director - More
- June 20, 2011 | Item | ShareThis


Seabridge Gold Files Preliminary Feasibility Study for KSM Project - "Seabridge Gold Inc. (TSX:SEA - News)(AMEX:SA - News) announced today that the National Instrument 43-101 compliant Preliminary Feasibility Study ("PFS") for its 100% owned KSM project located in northern British Columbia, Canada has been filed at www.sedar.com. The PFS was prepared by Wardrop, A Tetra Tech Company (Wardrop). The report identifies two different scenarios for expanding throughput, both of which would have a substantial positive impact on project economics according to preliminary estimates." More
- June 20, 2011 | Item | ShareThis


Comstock Mining Hires Top Safety Professional - "We could not be happier attracting one of the best, most experienced safety professionals in the industry back to the Comstock," commented company President and CEO Corrado De Gasperis. "Safety and social responsibility are integrated into everything we do and Randy will lead that continued philosophy as we move into production later this year." More
- June 20, 2011 | Item | ShareThis


Eurasian Minerals Drills 15.4 Meters of 1.96 g/t Gold With 15.95 g/t Silver and Expands Oxide Gold-Silver Zones at the Akarca JV Project, Turkey - More
- June 20, 2011 | Item | ShareThis


Champion Minerals to Present at RBC Capital Markets' 2011 Global Mining and Materials Conference in Toronto, Canada - More
- June 20, 2011 | Item | ShareThis


Capstone Announces Initial Mineral Resource Estimate for Footwall Zone at Cozamin Mine - More
- June 20, 2011 | Item | ShareThis


Sama Resources Announces New Intersections from Drilling at its Samapleu Poly-metallic Deposit - More
- June 20, 2011 | Item | ShareThis


Kivalliq High Grade U-Cu-Ag-Mo Intercept Extends Blaze Zone; Assays Received From Initial 10 Holes at Blaze Zone - More
- June 20, 2011 | Item | ShareThis


Magma Restructures Its Board of Directors - More
- June 20, 2011 | Item | ShareThis


White Tiger Gold and Century Mining Announce Further Update to Proposed Business Combination Timing - More
- June 20, 2011 | Item | ShareThis


Brigus Intersects 4165 gpt at New 147 Gold Zone at Black Fox Complex - "Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD) (TSX:BRD.to - News) is pleased to announce that exploration drilling on the southern portion of the Black Fox Complex continues to return excellent gold assays over significant widths within the new 147 gold zone (“147 Zone”), including 3.96 grams per tonne (“gpt”) over 50.00 metres (“m”) that included 6.82 gpt over 20.00 m. In addition, bonanza grade gold mineralization of 2078.73 gpt over 2.00 m that included 4165.15 gpt over 1.00 m, and 61.78 gpt over 4.0 m that included 243.43 over 1.0 m was intersected in the footwall side of the 147 Zone." More
- June 20, 2011 | Item | ShareThis


Canaco Drills 40.0 Metres at 2.93 Grams Per Tonne Gold, Expands Delineation Program and Increases Drill Capacity at Magambazi - More
- June 20, 2011 | Item | ShareThis


Gold Resource Corporation Acquires Sixth Property - "Gold Resource Corporation (GORO) (AMEX:GORO - News) is pleased to announce having significantly increased its land position adding a sixth potential high-grade property to the Company's Oaxaca Mining Unit. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico." More
- June 20, 2011 | Item | ShareThis


California Gold Corp. Announces the Closing of Its Private Placement Over-Allotment Option and the Signing of a Surface Rights Agreement to Explore its Optioned - More
- June 20, 2011 | Item | ShareThis


Ur-Energy Announces Completion of the Final NRC Supplemental Environmental Impact Statement (SEIS) for the Lost Creek ISR Uranium Project - More
- June 20, 2011 | Item | ShareThis


Orocobre Limited: Addenda Approved for the Salar de Olaroz Environmental Impact Statement by the Unit of Mining Environmental Management in Jujuy Province - More
- June 20, 2011 | Item | ShareThis


Recommended Takeover of Crescent Gold by Focus Minerals - More
- June 20, 2011 | Item | ShareThis


Mineral Deposits CEO Succession - More
- June 20, 2011 | Item | ShareThis


ERAMET and Mineral Deposits Limited to Create a Joint-Venture in the Mineral Sands Sector - More
- June 20, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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-- Posted 20 June, 2011 | |


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