-- Posted 5 August, 2011 | |
| Close | Gain/Loss | On Week |
Gold | $1656.70 | +$0.30 | +1.78% |
Silver | $38.36 | -$1.08 | -4.27% |
XAU | 196.06 | -0.54% | -4.74% |
HUI | 527.11 | -0.88% | -3.03% |
GDM | 1535.48 | -0.80% | -2.70% |
JSE Gold | 2486.14 | -47.18 | +3.55% |
USD | 74.50 | -0.69 | +0.85% |
Euro | 142.85 | +1.84 | -0.61% |
Yen | 127.45 | +1.02 | -1.98% |
Oil | $86.88 | +$0.25 | -9.22% |
10-Year | 2.558% | +0.100 | -8.81% |
Bond | 132.65625 | -0.84375 | +3.54% |
Dow | 11444.61 | +0.54% | -5.75% |
Nasdaq | 2532.41 | -0.94% | -8.13% |
S&P | 1199.38 | -0.06% | -7.19% |
The Metals:
Gold climbed almost 1% to $1669.87 in London before it dropped to a low as $1647.85 in New York, but it still ended with a gain of 0.02%. Silver rose to as high as $39.815 in London, but it then dropped to as low as $37.525 in New York and ended with a loss of 2.74%.
Euro gold fell to about €1161, platinum lost $13.50 to $1711, and copper dropped another 12 cents to about $4.11.
Gold and silver equities waffled near unchanged and ended slightly lower.
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | July | 117K | 84K | 46K |
Unemployment Rate | July | 9.1% | 9.2% | 9.2% |
Hourly Earnings | July | 0.4% | 0.2% | 0.0% |
Average Workweek | July | 34.3 | 34.3 | 34.3 |
Consumer Credit | June | $15.5B | $5.0B | $5.1B |
The BLS net birth/death adjustment subtracted 18,000 payrolls from July’s data. Private Payrolls rose 154,000.
All of this week’s other economic reports:
Next week’s economic highlights include Productivity, Unit Labor Costs, and a FOMC Rate Decision on Tuesday, Wholesale Inventories and the Treasury Budget on Wednesday, Initial Jobless Claims and the Trade Balance on Thursday, and Retail Sales, Michigan Sentiment, and Business Inventories on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly higher on decent economic data.
The U.S. dollar index fell as the euro rose on reports that “the European Central Bank will begin buying Italian bonds in exchange for fiscal reforms.”
Treasuries fell on the ECB news.
The Dow fell over 2% midday before it rebounded and ended higher on the ECB news, but the Nasdaq and S&P still settled modestly lower.
Among the big names making news in the market Friday were P&G, Fannie Mae, Wells Fargo, Viacom, Sony, LinkedIn, and GM.
GATA Posts:
J.S. Kim: How bankers use imaginary supply to suppress gold and silver
GoldMoney covers GATA's London conference on Twitter
Thom Calandra reports for Stockhouse on GATA's London conference
The Statistics:
Activity from: 8/04/2011
Gold Warehouse Stocks: | 11,438,564 | +129 |
Silver Warehouse Stocks: | 105,296,732 | - |
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 | 1286.297 | 41,355,739 | US$68,571m |
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$6,118m |
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$6,731m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,831 | US$758m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 47.72 | 1,534,267 | US$2,513m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,951 | US$8m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 160.52: +2.94 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,010.45: +151.53 change from yesterday’s data.
The Miners:
Northgate’s (NXG) second quarter results, Allied Nevada’s (ANV) second quarter results, ECU Silver’s (ECU.TO) information circular, and U.S. Silver’s (USA.V) union agreement were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Agnico Eagle | AEM +2.25% $56.35 |
2. Entree | EGI +1.36% $2.23 |
3. Goldcorp | GG +1.11% $46.34 |
LOSERS
1. Minco Gold | MGH -12.67% $1.31 |
2. Northern Dynasty | NAK -8.19% $8.52 |
3. Kimber | KBX -7.43% $1.62 |
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:
Wildcat appoints William J. Pennstrom, Jr as Vice President of Technical Services - More
- August 05, 2011 | Item | ShareThis
El Tigre Silver Corp. Amends Interim Financial Statements - More
- August 05, 2011 | Item | ShareThis
RT Minerals Commences Trading on the TSX Venture Exchange on August 5, 2011 - More
- August 05, 2011 | Item | ShareThis
Douglas Lake Acquires 100% Interest in Property to the East of Magambazi Hill in the Handeni District - More
- August 05, 2011 | Item | ShareThis
ECU Silver Mining Inc. Announces Filing of Information Circular - "ECU Silver Mining Inc. ("ECU") (TSX: ECU.TO - News) is pleased to announce that it has filed its management information circular (the "Information Circular") dated July 29, 2011 for the upcoming special meeting (the "Meeting") at which ECU's securityholders (the "Securityholders") will be asked to consider and vote upon the previously announced plan of arrangement (the "Arrangement") which would result in the business combination of ECU and Golden Minerals Company ("Golden")." More
- August 05, 2011 | Item | ShareThis
Canadian Zinc Reports Financial Results for Second Quarter 2011 - More
- August 05, 2011 | Item | ShareThis
U.S. Silver Announces Union Agreement - "U.S. Silver Corporation (TSX-V: USA, US OTCQX: USSIF, Frankfurt: QE2) (“US Silver” or the “Company”) announced today that it has reached a ratified Collective Bargaining Agreement with the United Steel Workers that is in effect until March 31, 2014." More
- August 05, 2011 | Item | ShareThis
Catalyst Copper Corp. Private Placement Amendment - More
- August 05, 2011 | Item | ShareThis
Samaranta Receives Preliminary Results From Airborne Survey Over Guadalupe Property, Columbia - More
- August 05, 2011 | Item | ShareThis
Strathmore & Korea Electric Power Corp. Enter Into a Binding Heads of Agreement for a Phased US $45 Million JV Development of Gas Hills Uranium Properties - More
- August 05, 2011 | Item | ShareThis
Osisko Buys Back a 1% Royalty Interest on Canadian Malartic Property - More
- August 05, 2011 | Item | ShareThis
Silver Bull Appoints a New Vice President of Exploration and Chief Geologist - More
- August 05, 2011 | Item | ShareThis
Prosperity Goldfields Provides Update on Kiyuk Gold Project Program - More
- August 05, 2011 | Item | ShareThis
Batero Gold Intersects 332.12 Metres Grading 0.76 g/t Gold and 0.11% Copper at Batero-Quinchia Project, Colombia - More
- August 05, 2011 | Item | ShareThis
Molycor Gold Corp.: Positive Preliminary Economic Assessment Study Completed for Tami-Mosi Magnesium Project - More
- August 05, 2011 | Item | ShareThis
Duran Ventures Reports Latest Positive Results From 2011 Aguila Drill Program - More
- August 05, 2011 | Item | ShareThis
La Mancha Posts Record Net Earnings for the Second Quarter - More
- August 05, 2011 | Item | ShareThis
Cavan Announces Closing of Previously Announced Non-Brokered Private Placement - More
- August 05, 2011 | Item | ShareThis
Northgate Minerals Reports Second Quarter Results - "Second quarter production was highlighted by an excellent performance at Fosterville, as the mine achieved record quarterly production of over 29,000 ounces of gold" commented Richard Hall, President and CEO. "Our mines in Australia are projected to ramp up production in the second half of the year and to generate strong cash flow from operations." More
- August 05, 2011 | Item | ShareThis
Allied Nevada Reports Q2 2011 Net Income of $3.6 Million ($0.04/Share) - "Hycroft is meeting its operating goals, with silver production continuing to impress management. These goals are being achieved amid significant ongoing construction projects related to the expansion while maintaining an excellent safety record," commented Scott Caldwell, President & CEO of Allied Nevada. "We expect solid operating results in the second half of 2011 and look forward to providing potentially significant news updates, including a reserve and resource update for Hyrcroft and the results of the feasibility study for the Hycroft Mill Expansion Project." More
- August 05, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 5 August, 2011 | |
