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Gold Seeker Closing Report: Gold and Silver Gain Again

By: Chris Mullen, Gold-Seeker.com



-- Posted 21 June, 2011 | |

 

Close

Gain/Loss

Gold

$1545.00

+$3.90

Silver

$36.37

+$0.36

XAU

196.74

+3.32%

HUI

515.92

+3.37%

GDM

1499.13

+3.46%

JSE Gold

2366.60

+5.27

USD

74.59

-0.46

Euro

144.05

+0.96

Yen

124.74

+0.15

Oil

$93.40

+$0.14

10-Year

2.985%

+0.022

T-Bond

126.9375

-0.15625

Dow

12190.01

+0.91%

Nasdaq

2687.26

+2.19%

S&P

1295.52

+1.34%

 
 

 

The Metals:

 

Gold reversed overnight gains and dipped to see a fifty cent loss at $1540.60 in midmorning New York trade, but it then rose to a new session high of $1548.04 by early afternoon and ended with a gain of 0.25%.  Silver surged to as high as $36.522 and ended with a gain of 1%.

 

Euro gold fell to about €1074, platinum gained $17.75 to $1745.75, and copper rose slightly to about $4.09.

 

Gold and silver equities climbed higher throughout the day and ended with almost 3.5% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Existing Home Sales

May

4.81M

4.79M

5.00M

 

Tomorrow at 2:15PM EST brings the fed’s rate decision.

 

Fed meeting begins; weaker growth key to debate  Reuters

Fitch sees risk of Greece, U.S. debt defaults  Reuters

 

The Markets:

 

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

 

Oil rose as the U.S. dollar index fell on hopes for a resolution to Greece’s debt problems that sent treasuries lower and the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Walgreen, Barnes & Noble, Nokia, RIM, Dow Chemical, BofA, Airbus, and Boeing.

 

GATA Posts:

Gene Arensberg: Stealth bullish indicator: Who is left to sell?

Al Korelin interviews GATA's Murphy, Steer, and Powell in Vancouver

Paper gold's excess raises risk of 'parabolic spike' in real gold

 

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$60,036m

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$5,735m

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$6,273m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,072

US$707m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 142.06: +0.36 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,535.12: -90.98 change from yesterday’s data.

 

The Miners:

 

Gold Resource’s (GORO) AGM and new underground exploration programs, Timberline’s (TLR) drill program, Gold Reserve’s (GRZ) possible Amex delisting, Ivanhoe’s (IVN) warrant exercise proceeds, and Extorre’s (XG) increased economic study were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Resource

GORO +13.95% $27.69

2.  First Majestic

AG +10.80% $18.46

3.  Rubicon

RBY +9.8% $4.37

 

LOSER

1.  Gold Reserve

GRZ -1.15% $2.57

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:

 

Uranium North Commences Drilling on the Amer Lake Deposit - More
- June 21, 2011 | Item | ShareThis


Huldra Silver Inc. Announces Entry Into Mill Purchase and Services Agreement - More
- June 21, 2011 | Item | ShareThis


Osisko Declares Commercial Production at Canadian Malartic - More
- June 21, 2011 | Item | ShareThis


Clifton Star Resources Inc.: Drilling to Commence at Duparquet - More
- June 21, 2011 | Item | ShareThis


Jet Gold Announces Geologist - More
- June 21, 2011 | Item | ShareThis


Andina Minerals Files Amended Q1 2011 Financial Statements - More
- June 21, 2011 | Item | ShareThis


New Guinea Gold Corporation Announces Management Changes - More
- June 21, 2011 | Item | ShareThis


Golden Predator Intersects 46.7m of 3.78 g/t Gold at Carlos Zone, Grew Creek Project, Yukon - More
- June 21, 2011 | Item | ShareThis


Uragold's Drill Program Returned Significant Visible Gold Grains From the Beauce Placer Property - More
- June 21, 2011 | Item | ShareThis


Trevali Continues to Define High-Grade Mineralization on Santander Pipe Zone in Peru - More
- June 21, 2011 | Item | ShareThis


Maritime Expands High Grade Gold Zones at Orion - More
- June 21, 2011 | Item | ShareThis


Commander's Partner Expands High Grade Gold Zones at Orion - More
- June 21, 2011 | Item | ShareThis


Auriga Gold Announces Expiry of Incentive Program for Early Exercise of Warrants and Raises Net Proceeds of $1,486,497 - More
- June 21, 2011 | Item | ShareThis


Prosperity Goldfields Receives Permits for 2011 Drill Program - Drilling to Commence in Early July - More
- June 21, 2011 | Item | ShareThis


Bearing Acquires Exploration Properties in Durango, Mexico - More
- June 21, 2011 | Item | ShareThis


Claim Post Resources Exploration Update - More
- June 21, 2011 | Item | ShareThis


Goldstrike's Yukon Exploration Underway - More
- June 21, 2011 | Item | ShareThis


Asia Now Reports New High Grade Polymetallic Drill Results, Expands the Main Mineralized Zone to 1,680 Meters Long at Beiya North - More
- June 21, 2011 | Item | ShareThis


Megastar Amends Financing - More
- June 21, 2011 | Item | ShareThis


Soltoro Intercepts Near Surface High-Grade Silver in 4 Drill Holes Including 43.7 Metres of 300 GPT Silver at the El Rayo Project - More
- June 21, 2011 | Item | ShareThis


Invenio Resources Corp.: Exploration Program Begins at Ganes Creek Gold Project, Alaska - More
- June 21, 2011 | Item | ShareThis


AuRo Lists on Frankfurt Stock Exchange - More
- June 21, 2011 | Item | ShareThis


Tintina Resources Reports In-Fill Drill Results Demonstrate Continuity of Upper Copper Zone at Sheep Creek Copper-Cobalt-Silver Project - More
- June 21, 2011 | Item | ShareThis


RX Exploration Issues Response To Dissidents - More
- June 21, 2011 | Item | ShareThis


Gunpoint Completes Preliminary Drill Program at Talapoosa in Nevada - More
- June 21, 2011 | Item | ShareThis


Eagle Plains/Ecomax Enter Into Option Agreement on Acacia Project, Central British Columbia - More
- June 21, 2011 | Item | ShareThis


B2Gold Reports Heavy Rains and Flooding at the Limon Mine in Nicaragua, Resulting in a Temporary Shutdown of the Underground Workings - More
- June 21, 2011 | Item | ShareThis


Papuan Precious Metals KUD001 Intersects Targeted Hydrothermal Breccia - More
- June 21, 2011 | Item | ShareThis


Animas Resources Closes $1,015,000 Financing - More
- June 21, 2011 | Item | ShareThis


Cream Minerals Reports Drill Results for the Nuevo Milenio Silver-Gold Project, Mexico - More
- June 21, 2011 | Item | ShareThis


Zincore Drilling Expands Yanque Deposit With High Grade Zinc and Lead Over Significant Widths - More
- June 21, 2011 | Item | ShareThis


Pacific Ridge Drilling at Mariposa Starts in White Gold District - More
- June 21, 2011 | Item | ShareThis


Grandview Gold Inc. Begins Drilling at Dixie Lake Project, in Red Lake Gold District - More
- June 21, 2011 | Item | ShareThis


United Silver Corp. (TSX: USC) Announces Appointment of Interim President and Chief Executive Officer - More
- June 21, 2011 | Item | ShareThis


Gold Standard Annual Meeting Scheduled for June 28, 2011 - More
- June 21, 2011 | Item | ShareThis


Uranium Energy Corp Issues Mid-Year Shareholder Report - More
- June 21, 2011 | Item | ShareThis


Probe Mines Announces Assay Results for its Borden Lake Gold Project near Chapleau, Ontario; Gold Zone Extended to 1,600m Strike Length - More
- June 21, 2011 | Item | ShareThis


Lithium Americas Corp Joins OTCQX International Marketplace in U.S. - More
- June 21, 2011 | Item | ShareThis


Mega Provides Update on the Lake Maitland Uranium Project - More
- June 21, 2011 | Item | ShareThis


Abzu Gold Commences 12,000m Drilling Program, Golden Reef Project-Asankrangwa Belt, Ghana - More
- June 21, 2011 | Item | ShareThis


Indigo Provides Update on Burkina Faso Gold Exploration Activities - More
- June 21, 2011 | Item | ShareThis


Kirrin Doubles Grevet REE Project; Adds Gold and VMS Prospects - More
- June 21, 2011 | Item | ShareThis


Intrepid Mines Limited: Tujuh Bukit Indonesia NI 43-101 / JORC Compliant Technical Report Filed - More
- June 21, 2011 | Item | ShareThis


Champion Minerals Appoints Jean Depatie as Director to the Board - More
- June 21, 2011 | Item | ShareThis


Global Minerals Announces $5,000,000 Private Placement - More
- June 21, 2011 | Item | ShareThis


Century Mining Condemns Recent Video Posting of the Proposed Business Combination - More
- June 21, 2011 | Item | ShareThis


Avion's Tabakoto Drilling Continues to Return Excellent Results - More
- June 21, 2011 | Item | ShareThis


Levon Reports First Bulk Tonnage NI 43-101 Compliant Resource at Its Cordero Project in Mexico - More
- June 21, 2011 | Item | ShareThis


Alamos Gold Receives Positive Metallurgical Test Results for San Carlos and Provides Mulatos Exploration Update - More
- June 21, 2011 | Item | ShareThis


Goldrea Enters Into an Agreement to Purchase Wigwam Magnetite Prospect - More
- June 21, 2011 | Item | ShareThis


Gold Resource Corporation's Annual General Meeting - "Gold Resource Corporation (AMEX:GORO - News) held its annual general meeting of shareholders today in Denver, Colorado. All Directors were reelected and all proposals by management were approved. Mr. Jason Reid, President of Gold Resource Corporation, reported second quarter 2011 is expected to set new production, revenue and earnings records as the Aguila Project is progressing well. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico." More
- June 21, 2011 | Item | ShareThis


Timberline Commences 30,000-Foot Drill Program at South Eureka, Nevada - "Timberline Resources Corporation (TSX-V:TBR - News)(AMEX:TLR - News) ("Timberline" or the "Company") is pleased to report the resumption of exploration and drilling at its South Eureka property. The program will include a minimum of 30,000 feet of drilling, primarily focused on expanding and upgrading the mineral resource at the Company's flagship Lookout Mountain Project. The program will also test several prioritized locations across the 23 square-mile property, ranging from zones known to carry significant gold mineralization to previously untested structural targets." More
- June 21, 2011 | Item | ShareThis


Brazil eyes new tax on big mining projects: paper - "Brazil could create a new tax on large mining projects as part of the government's overhaul of the mining code, a local paper reported on Tuesday, a move that would be costly for mining giant Vale (VALE5.SA)." More
- June 21, 2011 | Item | ShareThis


Gold Reserve Inc. Announces Notification of Delisting from NYSE Amex - "Gold Reserve Inc. (TSX:GRZ.to - News) (NYSE-Amex:GRZ) has received a written notice dated June 20, 2011, that the NYSE Amex LLC (the “Exchange”) intends to file a delisting application with the United States Securities and Exchange Commission (the “SEC”) to remove the Company's common shares from being listed on the Exchange. This determination, which the Company intends to appeal, was made based on the Exchange staff's position that the Company is not in current compliance with certain listing standards of the Exchange set forth in the NYSE Amex Company Guide (the "Company Guide")." More
- June 21, 2011 | Item | ShareThis


Ivanhoe Mines to Receive US$502 Million from Rio Tinto's Exercise of All Outstanding Warrants to Advance Construction of Oyu Tolgoi - "Ivanhoe Mines' Chief Executive Officer Robert Friedland announced today that the company expects to receive US$502 million from Rio Tinto later today following Rio Tinto's decision to exercise all remaining share-purchase warrants that it holds in Ivanhoe Mines." More
- June 21, 2011 | Item | ShareThis


Extorre Announces Increase in Scope of Cerro Moro Project and Release Date for Economic Study - "Extorre Gold Mines Limited (TSX:XG - News) (AMEX:XG - News) (Frankfurt:E1R - News) ("Extorre" or the "Company") reports the economic study currently underway will include a larger production scenario to reflect the expanding gold-silver inventory on the property. The release date for the study is mid-July." More
- June 21, 2011 | Item | ShareThis


Gold Resource Corporation Advances Oaxaca Mining Unit - "Gold Resource Corporation (AMEX:GORO - News) today announced advancing its Oaxaca Mining Unit with two new underground exploration programs at its El Rey and Alta Gracia properties. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico." More
- June 21, 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 21 June, 2011 | |


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