-- Posted 12 September, 2011 | |
| Close | Gain/Loss |
Gold | $1810.90 | -$46.10 |
Silver | $40.12 | -$1.37 |
XAU | 217.25 | -2.67% |
HUI | 610.03 | -2.91% |
GDM | 1771.33 | -2.94% |
JSE Gold | 2828.51 | -19.40 |
USD | 77.18 | +0.03 |
Euro | 136.81 | +0.30 |
Yen | 129.41 | +0.82 |
Oil | $88.19 | +$0.95 |
10-Year | 1.930% | +0.015 |
T-Bond | 142.59375 | +0.09375 |
Dow | 11061.12 | +0.63% |
Nasdaq | 2495.09 | +1.10% |
S&P | 1162.27 | +0.70% |
The Metals:
Gold fell throughout most of trade and ended near its late session low of $1808.60 with a loss of 2.48%. Silver fell to as low as $40.078 and ended with a loss of 3.3%.
Euro gold fell to under €1334, platinum lost $26 to $1801, and copper fell 4 cents to about $3.95.
Gold and silver equities fell over 4% by midafternoon, but they then rallied back higher in late trade and ended with less than 3% losses.
The Economy:
Economists cut growth forecasts for 2011 and 2012 Yahoo
Obama tries to sell jobs plan to Congress, voters Reuters
Fed’s Fisher Says Commitment to Low Interest Rates May Inhibit Borrowing Bloomberg
There were no major economic reports today. Tomorrow at 8:30AM EST brings Export and Import Prices for August and at 2PM is the Treasury Budget for August expected at -$132.0 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on OPEC’s forecast of strong demand from developing nations.
The U.S. dollar index waffled near unchanged as worries about a Greek default were offset by rumors that China may buy Italian debt.
Greece Default Risk Jumps to 98% Bloomberg
Greek default fears slam banking sector Yahoo
Treasuries remained higher after today’s $32 billion 3-year note auction sold at a high yield of 0.334% with a bid to cover of 3.15.
The Dow, Nasdaq, and S&P fell for most of the day on fears about debt problems in Europe, but they then rose in late trade and ended with decent gains on reports that China may be buying Italian debt.
Among the big names making news in the market today were Bank of America, Broadcom, Citigroup, Berkshire Hathaway, Maxim Healthcare Services, McGraw-Hill, and Technip.
GATA Posts:
Gene Arensberg: Nothing paper can be a safe haven
QB Asset Management's report on gold's hidden value and price suppression
The Statistics:
Activity from: 9/08/2011
Gold Warehouse Stocks: | 11,555,868 | +2,400 |
Silver Warehouse Stocks: | 103,030,470 | -1,331,714 |
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 | 1241.917 | 39,928,872 | US$73,217m |
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$6,718m |
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$7,351m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,628 | US$825m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 45.28 | 1,455,795 | US$2,695m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,949 | US$9m |
Note: Change in Total Tonnes from yesterday’s data: SDPR added 10.512 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 168.06: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,847.28: No change from yesterday’s data.
The Miners:
Newmont’s (NEM) inclusion in the Dow Jones Sustainability World Index, Rubicon’s (RBY) drill results, Midway’s (MDW) permit, Seabridge’s (SA) drill results, Silvercorp’s (SVM) reputation, and Mines Management’s (MGN) second quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Vista Gold | VGZ+19.19% $4.41 |
2. Minco Gold | MGH +5.00% $1.24 |
3. US Gold | UXG +1.79% $6.24 |
LOSERS
1. Claude | CGR -9.61% $2.07 |
2. Silver Standard | SSRI -9.46% $26.79 |
3. First Majestic | AG-7.81% $20.89 |
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:
Probe Mines to Attend the Toronto Resource Investment Conference September 15-16 and the Denver Gold Forum September 18-21 - More
- September 12, 2011 | Item | ShareThis
Northaven Completes Airborne Geophysics at King Solomon Basin Gold/Silver Property - More
- September 12, 2011 | Item | ShareThis
LIM Added to S&P/TSX SmallCap Index - More
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Benton Commences Drilling at Abernethy Gold Project - More
- September 12, 2011 | Item | ShareThis
Josephine Mining Corp. Provides Drilling Update: Step-Out Drilling Delineates Main Lower Zone With Two Massive Sulfide Intercepts - More
- September 12, 2011 | Item | ShareThis
Taseko Announces Inferred Resource at Aley Niobium Project - More
- September 12, 2011 | Item | ShareThis
Huakan International Mining Inc. Extends Closing Date of Sale of Greenwood Gold Project Assets - More
- September 12, 2011 | Item | ShareThis
Klondex Mines Updated Technical Report Generates Indicated Mineral Resource of 1.65 Million Ounces of Gold Plus Inferred Mineral Resource of 0.46 Million Ounces - More
- September 12, 2011 | Item | ShareThis
Catalyst Copper Commences Metallurgical Studies at La Verde - More
- September 12, 2011 | Item | ShareThis
Moly Mines Company Update - More
- September 12, 2011 | Item | ShareThis
Rainy River Resources Ltd. Intersects 255.0 g/t Gold Over 1.5 Metres in the Western Area and Infill Program Continues to Expand the ODM at Depth - More
- September 12, 2011 | Item | ShareThis
Sanatana Reports Significant Rock Sample Gold Assay Values From Trenches Adjacent to Trelawney's Cote Lake Discovery - More
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Gold Reach Announces Drill Results for Seel Including 174.4 Metres Grading 0.4 Grams Per Tonne Gold and 0.35% Copper - More
- September 12, 2011 | Item | ShareThis
AM Gold Extends Mineralization 200 Meters East and Confirms New Gold Zone at Red Mountain - More
- September 12, 2011 | Item | ShareThis
Nevada Sunrise Initiates Titan 3D Geophysical Survey at Golden Arrow Project - More
- September 12, 2011 | Item | ShareThis
7,000 Metre Resource Upgrade and Expansion Drilling Program Underway on Mountain Lake%u2019s Glover Island Gold Project in Newfoundland - More
- September 12, 2011 | Item | ShareThis
100% of expiring warrants exercised for proceeds of $13.9 MM - More
- September 12, 2011 | Item | ShareThis
Everett Resources Announces Drilling Contract and Mobilization on the Menarik Property, Quebec - More
- September 12, 2011 | Item | ShareThis
Lucky Thirteen Placer Project - Metallurgical Update - More
- September 12, 2011 | Item | ShareThis
West Kirkland Cuts 1.55 g/t Gold and 58.52 g/t Silver Over 22.56 Meters at TUG Deposit, Long Canyon Trend Properties - More
- September 12, 2011 | Item | ShareThis
Shelron Group Expands Information Channels - More
- September 12, 2011 | Item | ShareThis
Redhawk Resources Announces Results of Exploration Drilling and 2011 Resource Expansion Drilling at Copper Creek Project - More
- September 12, 2011 | Item | ShareThis
Romarco secures key equipment for Haile - More
- September 12, 2011 | Item | ShareThis
Cardero Options Organullo Gold Project, Northwest Argentina, to Artha Resources Corporation - More
- September 12, 2011 | Item | ShareThis
Great Western Minerals Group to Hold Conference Call and Present at Upcoming Rare Earth Conferences - More
- September 12, 2011 | Item | ShareThis
Sparton Provides Exploration Update on Company Claims Surrounding Hammond Reef Gold Deposit, Ontario - More
- September 12, 2011 | Item | ShareThis
Soltoro Announces Analyst Coverage Initiated by Stonecap Securities Inc. - More
- September 12, 2011 | Item | ShareThis
IBC Vice President of Nuclear Fuels Jim Malone Appointed Chairman of World Nuclear Association Fuels Working Group - More
- September 12, 2011 | Item | ShareThis
Teslin River Signs Binding LOI to Acquire 1.8 Million Ounce Gold Property from Eureka Resources - More
- September 12, 2011 | Item | ShareThis
High Grade Gold Reported and Drilling Program Commences at Lake Victoria%u2019s Uyowa Gold Project%u2013 Tanzania, East Africa - More
- September 12, 2011 | Item | ShareThis
Golden Hope Reports 380.8 Metres of 0.61 g/t Au in T1 Zone from its 2011 Drilling Program at the Timmins-Bellechasse Gold Project in Quebec - More
- September 12, 2011 | Item | ShareThis
Orezone Gold Corporation: Positive Results Continue at Bombore With Seven Drills Operating - More
- September 12, 2011 | Item | ShareThis
Argentex Drills 9.00 Meters of 2.63 g/t Au and 682.8 g/t Ag at Marta Noroeste Vein at Pinguino Project - More
- September 12, 2011 | Item | ShareThis
Radium Analyses Identify Drill Sites at Kirrin's Alexis River Uranium Project in Labrador - More
- September 12, 2011 | Item | ShareThis
PolyMet to Present at Rodman & Renshaw Annual Global Investment Conference in New York - More
- September 12, 2011 | Item | ShareThis
Uranium Energy Corp Completes Merger to Acquire the Anderson Property in Arizona - More
- September 12, 2011 | Item | ShareThis
Loncor Resources - Regional BLEG Geochemical Survey at Ngayu Project in the DR Congo Outlines Several Gold Targets - More
- September 12, 2011 | Item | ShareThis
Douglas Lake Intersects Numerous Gold Bearing Zones Including Visible Gold During the First Phase of Drilling at Magambazi and Kwandege Targets - More
- September 12, 2011 | Item | ShareThis
Silver Quest Continues to Explore the White Gold District, Yukon - More
- September 12, 2011 | Item | ShareThis
American Vanadium Corp. Announces Positive Feasibility Study for Gibellini Vanadium Project - More
- September 12, 2011 | Item | ShareThis
Selwyn Announces Updated Mineral Resources for Selwyn Project - More
- September 12, 2011 | Item | ShareThis
Redstar Gold Intersects Bonanza Gold Grades in Red Lake - More
- September 12, 2011 | Item | ShareThis
International Northair Mines Intersects 58.40 Metres of 82.6 g/t Silver at La Cigarra, Mexico - More
- September 12, 2011 | Item | ShareThis
Malbex Releases First Resource Estimate for Rojo Grande Gold-Silver Deposit - More
- September 12, 2011 | Item | ShareThis
High-Grade Gold Drill Results from Red Lake - More
- September 12, 2011 | Item | ShareThis
Reliant Gold Announces Results of Drilling at Its MC Dalhousie Project - More
- September 12, 2011 | Item | ShareThis
Miranda Gold Comments on Barrick's Discovery in the Cortez Trend of Nevada - More
- September 12, 2011 | Item | ShareThis
Cresval Commences Drill Program on Bridge River Project - More
- September 12, 2011 | Item | ShareThis
New Hana Provides Exploration Update for the Kuke Project - More
- September 12, 2011 | Item | ShareThis
Champion Minerals Announces Inclusion to the S&P/TSX SmallCap Index - More
- September 12, 2011 | Item | ShareThis
Pele Mountain Drilling Expands Eco Ridge Deposit Northward, Demonstrates Significant Rare Earth Mineralization Outside of Main Conglomerate Bed - More
- September 12, 2011 | Item | ShareThis
All American Gold Corp Announces Drilling Program to Commence on Its Goldfield West Project - More
- September 12, 2011 | Item | ShareThis
Horizonte Minerals Reports Continued High-Grade Nickel Drill Results at Araguaia Project, Brazil - More
- September 12, 2011 | Item | ShareThis
Andina Establishes a New Resource at the Ojo de Agua East Area of the Volcan Gold Project - More
- September 12, 2011 | Item | ShareThis
Avion Gold Announces Inclusion to S&P/TSX Composite Index - More
- September 12, 2011 | Item | ShareThis
Lithium Americas Announces the Completion of Significant Engineering Milestones at its Cauchari-Olaroz Lithium Brine Project - More
- September 12, 2011 | Item | ShareThis
North American Nickel Interprets a Footwall Embayment Structure on Their Post Creek and Halcyon Properties; Drilling to Commence Mid September - More
- September 12, 2011 | Item | ShareThis
North American Nickel Selects Areas for Helicopter Electromagnetic and Magnetic Surveys on its Maniitsoq Project, Southwest Greenland; Signs Contract - More
- September 12, 2011 | Item | ShareThis
Talison Lithium Reports Fiscal Q4 and Fiscal Year 2011 Results - More
- September 12, 2011 | Item | ShareThis
Auryx Receives a Positive PEA for Otjikoto Pre-Tax NPV of USD301 Million and IRR of 42% - More
- September 12, 2011 | Item | ShareThis
Canaco Drills 49.0 Metres at 3.92 Grams per Tonne Gold at Magambazi, Including 9.3 Metres at 11.6 Grams per Tonne Gold; Extends Western Lodes - More
- September 12, 2011 | Item | ShareThis
Richard Zimmer Joins Magellan's Board of Directors - More
- September 12, 2011 | Item | ShareThis
Kirkland Lake Gold Inc.-Notice of Shareholder Meeting and 2011 Annual Report - More
- September 12, 2011 | Item | ShareThis
SERABI MINING plc ("Serabi" or "the Company") Exploration Update - More
- September 12, 2011 | Item | ShareThis
Crosshair Thanks Shareholders for Support at AusAm EGM - More
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Newmont Named to Dow Jones Sustainability World Index for Fifth Straight Year - "Newmont Mining Corporation (NYSE:NEM - News) today announced it was named to the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year. As Dow Jones' premier sustainability index, the DJSI World includes approximately 300 global companies identified as leaders in the areas of sustainability and economic, environmental and social performance. In 2007, Newmont became the first gold company included in the DJSI World and also has been included on the DJSI North America Index every year since 2006." More
- September 12, 2011 | Item | ShareThis
Rubicon Minerals Provides Update of "9X"Drill Results from the F2 Gold System, Phoenix Gold Project, Red Lake, Ontario - "Rubicon Minerals Corporation (TSX:RMX.to - News) (NYSE-AMEX: RBY) ("Rubicon") is pleased to provide an update on its underground "9X" exploration drill program being carried out on the F2 Gold System, at its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario." More
- September 12, 2011 | Item | ShareThis
Midway Receives Expanded Permit at Pan Gold Project, Nevada - "Midway Gold Corp. ("Midway" or the "Company") (MDW:TSX-V; MDW:NYSE-AMEX) announces it has received regulatory approval of an expanded drilling permit at its Pan Project, White Pine County, Nevada. This approved permit increases the area available for drill roads and drill pads and also includes a new access route to the project that protects areas of potential Sage Grouse habitat. A recent Environmental Assessment report completed by the U.S. Bureau of Land Management (BLM) concluded that the permitted activities will not have a significant environmental impact." More
- September 12, 2011 | Item | ShareThis
Silvercorp Update on Progress to Identify the Anonymous Letter Writer and to Restore Its Reputation - "Silvercorp Metals Inc. (TSX: SVM - News)(NYSE: SVM - News) ("Silvercorp" or the "Company") welcomes the British Columbia Securities Commission (BCSC) taking quick and decisive actions to investigate the allegations against the Company in an anonymous letter dated August 29, 2011 (refuted by the Company's in its September 2, 2011 news release), and in particular the BCSC's efforts to discover the anonymous letter writer's identity." More
- September 12, 2011 | Item | ShareThis
Drilling Confirms Likely Resource Enhancements at Seabridge Gold's Courageous Lake - "The second tranche of 2011 infill drill results from Seabridge Gold's 100% owned Courageous Lake Project are likely to expand the project's multi-million ounce gold resource, increase the average grade and upgrade inferred resources to higher categories. Assays from the latest 13 core holes (reported below) continue to confirm the project's resource model with some intercepts proving to be wider and better grade than predicted. In August, Seabridge reported results from the initial 10 core holes from this summer's infill drilling program which were also highly encouraging." More
- September 12, 2011 | Item | ShareThis
Mines Management Announces Second Quarter 2011 Financial and Operating Results - “Significant progress has been made to advance the Montanore Silver-Copper Project through the re-permitting process. We anticipate completion of the Supplemental Draft Environmental Impact Study (“SDEIS”) in the near term, and commencement of the final phase of permitting following shortly thereafter. We remain in excellent financial condition as we move closer to the completion of permitting of the Montanore Project, and look forward to commencement of the underground delineation drilling program.” More
- September 12, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 12 September, 2011 | |