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-- Posted 11 October, 2011 | |
| Close | Gain/Loss | Gold | $1659.70 | -$9.30 | Silver | $32.03 | +$0.09 | XAU | 193.47 | -0.17% | HUI | 545.17 | +0.23% | GDM | 1577.52 | +0.34% | JSE Gold | 2715.58 | -0.41 | USD | 77.49 | -0.02 | Euro | 136.77 | +0.35 | Yen | 130.49 | +0.07 | Oil | $85.81 | +$0.40 | 10-Year | 2.160% | +0.092 | T-Bond | 139.875 | +1.1875 | Dow | 11416.30 | -0.15% | Nasdaq | 2583.03 | +0.66% | S&P | 1195.54 | +0.05% |
The Metals: Gold reversed early Asian gains and fell $14.90 to as low as $1654.10 by about 5AM EST, but it then rallied back higher in New York and ended with a loss of just 0.56%. Silver fell to as low as $31.34 before it also rallied back higher and ended with a gain of 0.28%. Euro gold fell to about €1215, platinum lost $3.70 to $1516, and copper dropped 7 cents to about $3.29. Gold and silver equities traded modestly lower for most of the morning, but they then climbed back higher in afternoon trade and ended near unchanged. The Economy: Millions could lose unemployment benefits in 2012 Yahoo Wall Street could lose 10,000 more jobs Yahoo Senate Republicans likely to kill Obama jobs bill Yahoo Bond Yields Show 60% Odds of U.S. Recession Bloomberg There were no major economic reports today. Tomorrow at 2PM EST brings FOMC Minutes from the fed’s September 21st meeting. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil turned higher in late trade and ended with a modest gain on increased geopolitical fears after reports of a thwarted terror plot to assassinate the Saudi Arabian ambassador to the United States. “Federal authorities foiled a plot by men linked to the Iranian government to kill the Saudi ambassador to the United States and to bomb the embassy of Saudi Arabia in Washington, Attorney General Eric H. Holder Jr. said in a news conference on Tuesday.” The U.S. dollar index reversed early gains and ended near unchanged on uncertainty over Slovakia’s vote “to boost the size and powers of the 440-billion-euro European Financial Stability Facility. Slovakia is the last of the euro zone's 17 members to vote.” Treasuries remained lower after today’s $32 billion 3-year note auction sold at a yield of 0.544% with a bid to cover of 3.3. The Dow, Nasdaq, and S&P waffled near unchanged on worries over Europe. Among the big names making news in the market today were Goldman Sachs, Wells Fargo, Dollar thrifty, 99 Cents, RIM, and HBO. GATA Posts: 
Hong Kong publication notes Western desire for gold price suppression Chris Powell: Gold price suppression purposes and proofs South African trader is persuaded of central bank intervention against gold History Channel's 'Decoded' program on Fort Knox is posted at YouTube GoldMoney's James Turk interviews Oroyfinanzas founder Marion Mueller The Statistics: Activity from: 10/10/2011 Gold Warehouse Stocks: | 11,118,730 | -385 | Silver Warehouse Stocks: | 105,885,646 | -62,501 |
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 | 1227.994 | 39,481,235 | US$65,623m | 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$6,173m | 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$6,755m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,473 | US$762m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 44.54 | 1,431,958 | US$2,378m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,948 | US$8m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.513 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.70: No change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 9,954.27: -51.47 change from yesterday’s data. The Miners: Agnico Eagle’s (AEM) third quarter update, Claude’s (CGR) drilling update, Banro’s (BAA) gold pour, Comstock’s (LODE) mineral resource estimate, Great Panther’s (GPL) mineral resource estimate, Bear Creek’s (BCM,.V) corporate update, Excellon’s (EXN.TO) shareholder update, Endeavour Silver’s (EXK) third quarter production, Hecla’s (HL) revolving credit facility, and Extorre’s (XG) assay results were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Seabridge | SA +9.02% $23.93 | 2. Lake Shore | LSG +6.39% $1.50 | 3. Fortuna | FSM+6.36% $6.02 |
LOSERS 1. Comstock | LODE-10.31% $2.35 | 2. Revett | RVM -6.77% $3.58 | 3. ITH | THM -4.53% $5.06 |
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: Great Panther Silver Reports Initial Mineral Resource Estimate at San Ignacio Project, Guanajuato - "GREAT PANTHER SILVER LIMITED (TSX: GPR.TO - News)(AMEX: GPL - News) ("the Company") is pleased to report the initial mineral resource estimate at the Company's 100% owned San Ignacio Project in Guanajuato, Mexico. The 2011 mineral resource estimate comprises Inferred Mineral Resources of 611,000 tonnes at 127g/t silver and 2.05g/t gold (4,494,000 Silver Equivalent Ounces (Ag Eq Oz)), using a 118g/t Ag Eq cut-off grade. Drilling is continuing, with a total of 40 holes now completed, and the resource will be updated on a periodic basis." More
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Helio's Latest Diamond Drilling Confirms Gold Mineralisation over 1.2km Strike Length at Gap Target - SMP Gold Project, Tanzania - More
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Beaufield Resources: Resignation of Director and Corporate Update - More
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Bear Creek Provides Corporate Update; Corani Feasibility Study On Schedule, Tassa Drilling To Commence; Peru - "Bear Creek Mining (TSX Venture:BCM.v - News) ("Bear Creek" or the "Company") is pleased to provide updates on its development and exploration programs in Peru. The Company maintains an aggressive generative exploration program while advancing the development of the Corani silver-lead-zinc mine with a nearly completed feasibility study for a mine capable of producing up to 15 million ounces of silver per year. The three exploration prospects described in this update range from advanced Phase II drilling programs at the Tassa silver/gold prospect and at the La Yegua copper prospect to new acquisitions and discoveries." More
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ECPN Forms a Technology Subsidiary - More
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Enertopia Acquires Mildred Peak, Arizona Property - More
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Power Struggle Between Competing Labour Unions at Excellon's La Platosa Mine - "Excellon Resources Inc. (TSX: EXN.TO - News) (the "Company"or "Excellon") would like to update its shareholders with respect to the previously announced illegal demonstrations that occurred at its La Platosa property in August and September. The illegal demonstrations were a small part of the larger ongoing union battle for influence across Mexico between Sindicato Nacional de Trabajadores Mineros, Metalurgicos y Similares de la Republica Mexicana (the "SNTMMSR Union"), headed by Mr. Napoleon Gomez Urrutia, and Sindicato Nacional Minero, Metalurgico "Napoleon Gomez Sada" (the "SNMMNGS Union"), headed by Mr. Carlos Pavon, a former high-level officer of the SNTMMSR Union. This ongoing battle has resulted in similar disruptions at other mines in Mexico, both within Durango and in other states. The demonstrations were part of a campaign to unseat the Sindicato Nacional de Industria "Vicente Guerrero" de los Trabajadores de la Extraccion, Fundicion, Transformacion, Distribucion, Montaje y Transportacion de Productos de Metal, Minerales Conexos, Derivados y Similares (the "Vicente Guerrero Union"), the union currently representing Excellon's unionized workforce at La Platosa. As part of its efforts to gain influence, the SNTMMSR Union and the Canadian branch of its affiliated organization, the United Steelworkers, have recently released incorrect information regarding Excellon's current union, the Company and the Government of Durango State, and the recent union activities at La Platosa." More
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Decade Resources Ltd.: 43.7 Grams/Tonne Gold Over 7.4 Metres Intersected on Southwest Extension of the Upper Montrose Zone - More
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Pan American Settles Debt and Strengthens Balance Sheet - More
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Granite Creek Gold Commences Drilling - More
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REBgold Announces New NI 43-101 Resource Estimate for Finland Projects - More
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Drilling at Sugar Zone Deposit Continues to Intersect High Grade - More
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SIRIOS: Transfer of Properties to Khalkos Exploration Inc. - More
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St. Augustine Gold and Copper Limited Announces Changes to Its Board of Directors and Emplaces a Project Development and Financing Committee - More
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Riverside Resources and Partner Mexigold Corp. Identify Two New Gold Target Areas and Provide Positive Exploration Results from the Catrina Gold Project - More
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Zone Resources Inc. Announces Private Placement - More
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Soldi Ventures Inc. Assays up to 298.8 g/t Gold on the Golden Bullet Project, Newfoundland - More
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Viper Gold Reports Initial High Grade Gold and Silver Results From Campbell Lake Property - More
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Diamcor Reports 97% Increase in Basal Gravels at Krone-Endora at Venetia Project - More
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New Guinea Gold Corporation: PNG EL 1115, EL 1353 and EL 1384 - More
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Globex/Queenston Intersect 28.86 g/t Au Over 4.9 Metres on Wood-Pandora Property - More
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Multiple VTEM conductors identified at Mogoraib North - More
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Ring of Fire Closes Acquisition of Project 81 - More
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Highland Negotiates Sale of its Interest in Rickaby and Humboldt Bay Properties - More
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Currie Rose Resources Inc.: News Release - More
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Golden Touch Resources Appoints Ken Chapple as President and Chief Executive Officer - More
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Gold Reach Announces Additional Drill Results for Seel Including 106.4 Metres Grading 0.41 Grams Per Tonne Gold and 0.4% Copper - More
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U.S. Rare Earth Minerals, Inc. Appoints Leading Seed Coating Scientist to Board of Advisors - More
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Iberian Minerals Publishes Preliminary Q3 2011 Production Results - More
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Petaquilla Minerals Ltd.: Responsible Mining Documentary on the Molejon Gold Project - More
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Colt Resources intersects 0.95% WO3 over 10.75m, including 1.38% WO3 over 4.04m at its Tabuaço Tungsten Project, Northern Portugal - More
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Zinco Reports on Drilling Results for San Juan, Cuale District, Jalisco VMS Project, Mexico - More
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Montero Establishes An Average of 10.43% TREO in 55 Grab Samples from the NE Zone of Nyati at the Wigu Hill Rare Earth Project, Tanzania - More
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Pershimco and Osisko Sign Joint Venture Agreement on Courville Gold Project - More
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Jayden Receives $7.9M from the Exercise of Warrants - More
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EurOmax Adds Mining Expertise to Board of Directors - More
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Rae-Wallace Mining Company Prepares to Drill at Toro Blanco, Continues Peruvian Gold Exploration on Several Fronts - More
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American Bonanza Purchases Mining Equipment in Move to Become Owner-Miner - More
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Skyline Gold Corporation: High Grade Gold Confirmed at Bug Lake - More
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Marifil Expands Lithium Holdings in Catamarca Province - More
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Sphere Resources Inc. Status of Exploration - More
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Alderon to Commence Trading on the Toronto Stock Exchange - More
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International Lithium Drill Program Extended by 46% at Mavis Lake-Fairservice Lithium and Rare Metals Project, Ontario - More
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Southern Arc Resumes Drill Program at West Lombok Project - More
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Curis confirms intention to initiate near term development of the Florence Copper Project - More
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Adventure Gold and Mazorro Resources Begin 4,000 Metres Phase 2 Drill Program on Lapaska Property, Val d'Or East Area, Quebec - More
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Mazorro Resources and Adventure Gold Begin 4,000 Metre Phase 2 Drill Program on Lapaska Property, Val D'Or East Area, Quebec - More
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Avanti Receives Approval for Kitsault Environmental Assessment Application Information Requirements - More
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B2Gold Corp. and Auryx Gold Corp. Sign Binding Agreement for Proposed Business Combination - More
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Selwyn receives Environmental Approval for ScoZinc Mine - More
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Diamond Drilling Begins on The Detour East Property (Former Gygnac and Massicotte Properties) - More
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Hunter Bay Minerals Commences Bulk Sampling Program At Mazaruni and Puruni Permits - More
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Kaminak Defines Extensive Soil Anomalies Along Newly recognized Sugar Trend, Coffee Project - More
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Black Iron Successfully Test Produces Iron Ore Pellets From Its Shymanivske Project - More
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Reservoir Reports Exploration Progress at The Deli Jovan Project in Serbia - More
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Lara Exploration Ltd.: Codelco Completes Drilling Program At Curionopolis in Brazil - More
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Primero Announces Appointment Of Renaud Adams as COO - More
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Oracle Mining Commences Trading On OTCQX - More
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Avion's Kofi C Zone returns Further High Grade Intercepts, Mali, West Africa - More
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Rodinia Lithium receives Preliminary Processing Results for Lithium Recovery at the Salar de Diablillos Project - More
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Laramide Updates Permitting Status On Its La Sal Project, San Juan County, Utah - More
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Colossus Minerals continues Strategic Evolution Toward Producer Status - More
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Final Assays received-NI43-101 Compliant Resource Estimate Proceeding for Zoe Discovery - More
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Rainy River Resources announces Appointment of Michael Mutchler as Chief Operating Officer - More
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Talison Lithium announces Preliminary First Quarter 2012 Sales Volume - More
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Torex Continues to Expand The Strike Length of the Guajes West Deposit - More
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Lydian Secures New Gold Exploration Project In Republic of Georgia - More
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Foundation Resources Inc.: 11.65 g/t Gold Over 1.35 Metres And 10.95 g/t Gold Over 2.0 Metres Intersected at the East Coldstream Deposit, Ontario - More
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Victory Ventures Commences Trading on Frankfurt Exchange - More
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Centamin Egypt Limited 3rd Quarter Preliminary Production Results - More
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Endeavour Silver's Production Continued to Rise in 3rd Quarter, 2011; Revenues Jumped 93% to US$38.8 Million - "Endeavour Silver Corp. (TSX: EDR.TO - News)(NYSE: EXK - News)(Frankfurt: EJD.F - News) announced today that silver and gold production from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State, continued to rise year-on-year in the Third Quarter, 2011." More
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Agnico-Eagle Provides Third Quarter Operating Update; Announces Expanded Assessment, Monitoring and Remediation Program at Goldex - "Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") is providing a quarter over quarter operating update in advance of the mailing of the bid circular relating to the proposed acquisition of Grayd Resource Corporation ("Grayd"). It is anticipated that the circular will be mailed to Grayd shareholders on October 13, 2011." More
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Claude Resources Inc. Provides Drilling Update on the Amisk Gold Project, SK - "Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) ("Claude") is pleased to provide an update from its 2011 exploration program at the 15,400 hectare Amisk Gold Project in northeastern Saskatchewan, Canada. The Amisk Gold Project is located 20 kilometres southwest of Flin Flon, Manitoba and is a 65:35 Joint Venture between Claude and St. Eugene Mining Corporation. Claude is the operator of the Joint Venture." More
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Banro Corp's Twangiza Mine Pours First Gold in the Democratic Republic of the Congo - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to announce first gold production at its wholly-owned Twangiza gold mine in South Kivu province, Democratic Republic of the Congo ("DRC"). Twangiza is Banro's first gold mine along the 210 km Twangiza-Namoya gold belt where the Company has to date delineated five projects within the 13 fully licensed mining concessions." More
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Hecla Increases Revolving Credit Agreement to $100 Million - "Hecla Mining Company (“Hecla”)(NYSE:HL) announces that it has reached an agreement with its lenders to increase the amount available under its undrawn secured revolving credit facility to $100 million from $60 million. The amendment is effective immediately and represents a new three-year term on the facility. The financial covenants and interest rate at LIBOR plus 2.75% to 3.5% depending on the leverage ratio of the Company, remain unchanged. The lenders for the credit facility are Scotia Capital and ING Capital LLC." More
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Comstock Mining Reports a 94% Increase in Measured, Indicated and Inferred Resources - "Comstock Mining Inc. ("Comstock Mining" or the "Company") (NYSE Amex: LODE) announced today the highlights of its third National Instrument 43-101 (NI 43-101) technical report (the "2011 Report") authored by Behre Dolbear & Company (USA), Ltd. ("Behre Dolbear"), of Denver Colorado. The 2011 Report declared a mineral resource estimate for the Comstock Mine Project in Storey and Lyon Counties, Nevada, of Measured and Indicated Resources containing 1,780,000 gold equivalent ounces (1), and an estimate of an Inferred Resource containing an additional 990,000 gold equivalent ounces. The total of 2,770,000 Measured, Indicated, and Inferred gold equivalent ounces is a 94% increase over the estimate reported in the Company's previous NI 43-101 technical report, published in August 2010. The 2011 Report also includes an additional 200,000 gold equivalent ounces outside of the modeled area, in the Historical Resource Category." More
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Final Assays Received-NI43-101 Compliant Resource Estimate Proceeding for Zoe Discovery - "Extorre Gold Mines Limited (AMEX:XG; TSX:XG; Frankfurt: E1R, “Extorre” or the “Company”) is pleased to announce that all assays are in hand for the first National Instrument 43-101 compliant resource estimate for the Zoe zone at Cerro Moro, Santa Cruz Province, Argentina. Assays for the final 33 drill holes of the approximately 100 holes to be included in the initial resource estimate are reported in this release." More
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- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2011 Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. 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 11 October, 2011 | |
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