-- Posted 25 October, 2011 | |
| Close | Gain/Loss |
Gold | $1699.00 | +$47.60 |
Silver | $33.11 | +$1.46 |
XAU | 195.59 | +1.40% |
HUI | 551.12 | +2.42% |
GDM | 1591.22 | +2.44% |
JSE Gold | 2917.85 | +82.48 |
USD | 76.22 | +0.13 |
Euro | 138.97 | -0.32 |
Yen | 131.66 | +0.23 |
Oil | $93.17 | +$1.90 |
10-Year | 2.128% | -0.106 |
T-Bond | 140.0625 | +1.96875 |
Dow | 11706.62 | -1.74% |
Nasdaq | 2638.42 | -2.26% |
S&P | 1229.05 | -2.00% |
The Metals:
Gold climbed $12.58 to $1663.98 by a little before 7AM EST before it fell to see a slight loss at $1648.46 by a little after 9:30AM, but it then jumped to as high as $1703.10 by early afternoon in New York and ended with a gain of 2.88%. Silver dropped 30 cents to $31.35 before it soared to as high as $33.288 in late trade and ended with a gain of 4.61%.
Euro gold rose to about €1220, platinum gained $17.85 to $1558.85, and copper fell a few cents to about $3.42.
Gold and silver equities fell about 2% in the first half hour of trade, but they then climbed back higher throughout most of the rest of trade and ended with about 2% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Case-Shiller 20-city Index | Aug | -3.8% | -3.5% | -4.21% |
Consumer Confidence | Oct | 39.8 | 46.0 | 46.4 |
FHFA Housing Price Index | Aug | -0.1% | - | 0.0% |
Low mortgage rates elude 'underwater' homeowners Yahoo
Tomorrow at 8:30AM EST brings Durable Goods Orders for September expected at -1.0%. Excluding transportation, orders are expected at 0.4%. A 10AM is the New Home Sales report for September expected at 300,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose over 2% more on signs of tightening supplies and steady demand.
The U.S. dollar index waffled near unchanged on mixed signals out of Europe.
Treasuries remained higher after today’s $35 billion 2-year note auction drew a high yield of 0.281% with a bid to cover of 3.64.
The Dow, Nasdaq, and S&P fell on poor earnings reports and word that a key meeting between European financial ministers has been cancelled.
Among the big names making news in the market today were Delta, Xerox, UPS, MF Global, DuPont, Novartis, Netflix, 3M, Amazon, and Quest Diagnostics.
The Commentary:
“Gold bulls finally managed to beat back the line of defense erected by the perma shorts at the Comex in today's session as safe haven buying came into gold from all quarters early in the session and continued to build as it wore on. The technical breakout above resistance also brought in both short covering and new momentum based buying.
Volume on the upside move has been very good which is generally regarded as confirmation to the validity of the breakout.
The next technical target lies near the $1720 level.
Downside support now moves up towards $1680 with much better support near $1650.
Helping confirm the move is the surge in both the mining shares as evidenced by the HUI and the upside breakout above $32.50 in Silver.
Note on the silver chart that the market is currently up against the 50% retracement level of the most recent leg down. Clearing this should allow it push first towards $34 and then up against the $35.15 - $35.25 level.
Downside support levels are first near $31 and then back down towards $30.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Ben Davies: Monkey business -- reality, illusion, or delusion
Gold warrior Grandich's autobiography is now in print
Alasdair Macleod: Why sound money is a basic human right
The Statistics:
Activity from: 10/24/2011
Gold Warehouse Stocks: | 11,249,727 | +1,470 |
Silver Warehouse Stocks: | 105,943,230 | -401,356 |
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 | 1233.564 | 39,660,314 | US$65,659m |
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$6,290m |
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$6,883m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,398 | US$779m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.48 | 1,365,615 | US$2,256m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,947 | US$8m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.053 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.21: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,840.75: No change from yesterday’s data.
The Miners:
Newmont’s (NEM) protest, Rubicon’s (RBY) royalty purchase, US Gold’s (UXG) drill results, Allied Nevada’s (ANV) VP appointment, and Excellon’s (EXN.TO) updated Mineral Resource estimate were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Lake Shore | LSG+11.59% $1.54 |
2. Extorre | XG +7.88% $9.04 |
3. Great Panther | GPL +7.37% $2.33 |
LOSERS
1. Avino | ASM-4.26% $1.80 |
2. Taseko | TGB -3.45% $3.36 |
3. Ivanhoe | IVN-3.37% $17.50 |
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:
Newmont project in Peru faces community protest - "speople in northern Peru are demanding an end to construction of the $4.8 billion Minas Conga gold mine because they fear it will threaten local water supplies, residents said on Tuesday." More
- October 25, 2011 | Item | ShareThis
Augustine Ventures Adopts a Shareholder Rights Plan - More
- October 25, 2011 | Item | ShareThis
Patriot Gold Moss Gold-Silver Project Independently Confirmed as 590,400 Ounces Gold Equivalent Resource - More
- October 25, 2011 | Item | ShareThis
Xmet Files NI 43-101 Report Confirming 56% Increase in Gold Resource on Duquesne-Ottoman - More
- October 25, 2011 | Item | ShareThis
Monarques Resources Inc.: IP Survey Identifies Two New Anomalies at Nisk 1 Deposit - More
- October 25, 2011 | Item | ShareThis
Zone Resources Inc.: 35.98% Iron Intersection Over 24 Metres on the Moore Iron Property, Northern Quebec - More
- October 25, 2011 | Item | ShareThis
Currie Rose Mabale Hills and Sekenke Update-Tanzania - More
- October 25, 2011 | Item | ShareThis
Iberian Minerals Announces Drill Results From New Zone West of Aguas Tenidas Mine - More
- October 25, 2011 | Item | ShareThis
Ruby Creek Featured on Micro-Cap Review and Introduces New Website - More
- October 25, 2011 | Item | ShareThis
Radius Intersects High Grade Veins in 60 Mile Drilling - More
- October 25, 2011 | Item | ShareThis
Taku Samples Up to 2.6gpt Gold in Soil on Montana Property in Yukon - More
- October 25, 2011 | Item | ShareThis
Robex Resources Inc./Nampala: The Potential Production Capacity Increases From 5,000 Tonnes to 6,000 Tonnes per Day - More
- October 25, 2011 | Item | ShareThis
NQ Intersects 84 g/t AgEq Over 18.7 Metres at its Carheil Project - More
- October 25, 2011 | Item | ShareThis
Silver Sun Receives 94.69% Gold Recoveries from Cherry Hill Gold Mine - More
- October 25, 2011 | Item | ShareThis
TNR Gold Corp.: Preliminary Results at Seabrook Niobium-Rare-Earth Elements Property - More
- October 25, 2011 | Item | ShareThis
Silver Fields Discovers New Gold Vein on Keremeos Property - More
- October 25, 2011 | Item | ShareThis
Northern Gold Identifies New Target Area and Reports Results for Six Garrcon Gold Deposit Drill Holes - More
- October 25, 2011 | Item | ShareThis
Gold Reach Resources Ltd.: 2011 Ootsa Exploration Program Completed - More
- October 25, 2011 | Item | ShareThis
Mexivada Expands Clorinda Zone of Mineralization at Timmins and Acquires 2 Properties Near Ross Mine, Hislop-Matheson, Ontario - More
- October 25, 2011 | Item | ShareThis
Prospero Silver Commences Drilling at Campana Project, Mexico - More
- October 25, 2011 | Item | ShareThis
Revolution Forms Technical Advisory Board - More
- October 25, 2011 | Item | ShareThis
AXMIN, an Emerging Producer, Strengthens Its Passendro Mine Development Team - More
- October 25, 2011 | Item | ShareThis
Santa Fe Metals' Cuyoaco Samples Yield Up to 2.4 % Copper, 7.2 g/t Gold and 28 g/t Silver - More
- October 25, 2011 | Item | ShareThis
Everton Provides Update on its Ongoing Exploration Programs in the Dominican Republic - More
- October 25, 2011 | Item | ShareThis
AmeriLithium Website Updated With Clayton Deep & Full Monty Gravity Survey Results & New Lithium Project Acquisition - More
- October 25, 2011 | Item | ShareThis
Entourage Metals (TSX VENTURE: EMT) Commences Phase 1 Drill Program at Rous Lake in Hemlo Region - More
- October 25, 2011 | Item | ShareThis
Elissa Acquires Additional US Based Rare Earth Projects - More
- October 25, 2011 | Item | ShareThis
Canasia Industries Corporation: 137.1 Grams per Tonne Gold Returned from 2011 Work Program at Clone Gold Project - More
- October 25, 2011 | Item | ShareThis
Brixton Metals Drills 49.78 m of 2.26 g/t AuEq at Talisker and Discovers the Lagavulin Vein with 24 m of 1.23 g/t AuEq - More
- October 25, 2011 | Item | ShareThis
Bearing Resources Extends Gold Anomaly at the October Dome Property, British Columbia - More
- October 25, 2011 | Item | ShareThis
African Gold Group, Inc. Step-Out Drilling Yields Discovery of New Gold Zone 5 Kilometers South-East of Zone 1 Deposit at Kobada, Mali - More
- October 25, 2011 | Item | ShareThis
Donner Metals Ltd.: Bracemac-McLeod Mine Development Tracking On Budget and On Schedule - More
- October 25, 2011 | Item | ShareThis
Midland Updates the Exploration Program Following the Recent Discoveries on the Laflamme Project - More
- October 25, 2011 | Item | ShareThis
Ireland Inc. Reports Increased Tonnage Estimates for North Sand Zone - More
- October 25, 2011 | Item | ShareThis
Cerro Resources: Significant Drill Results from Namiquipa Silver Project Demonstrates System Potential - More
- October 25, 2011 | Item | ShareThis
PAW Diamond Drill Assay Results Continue to Return High Grade Niobium and REO Mineralisation and Confirms Depth Potential at Mrima Hill - More
- October 25, 2011 | Item | ShareThis
Cadillac Announces Mineral Resource Estimate for K1-1 Project at Thierry Property - More
- October 25, 2011 | Item | ShareThis
Western Pacific Cuts 24.4m @ 1.6g/t Au at Mineral Gulch Project - More
- October 25, 2011 | Item | ShareThis
Argentex Identifies Additional Strong Silver Mineralization at Pinguino; Marta Norte Vein Returns 26.0 Meters of 145.7 g/t Ag and 0.26 g/t Au - More
- October 25, 2011 | Item | ShareThis
Alderon Registers Kami Project: Planned Production of 16-million Tonnes per Year - More
- October 25, 2011 | Item | ShareThis
Eastern Platinum Limited: Managing Director of Barplats Resigns - More
- October 25, 2011 | Item | ShareThis
General Moly Announces Completion of Draft Environmental Impact Statement for Mt. Hope Project - More
- October 25, 2011 | Item | ShareThis
Focus Gold Corp. Announces Closing of Metallum Acquisition and Provides Operational Update to Shareholders - More
- October 25, 2011 | Item | ShareThis
Xtra-Gold Resources Corp.: Kibi Gold Project Receives Positive Initial Metallurgical Results With 97% Gold Recovery - More
- October 25, 2011 | Item | ShareThis
MAX drills 44.2 m of 71.0 g/t (2.28 oz/t) Silver and 1.14% Copper at Majuba Hill, Nevada - More
- October 25, 2011 | Item | ShareThis
Kivalliq Energy Corporation: Additional High Grade Assays Received From Western Extension Drilling - More
- October 25, 2011 | Item | ShareThis
Continued Mineralization from Vikings Dolly Varden Drill Program - More
- October 25, 2011 | Item | ShareThis
New Dimension Updates Drilling at Mars Copper-Gold Porphyry Project, Yukon - More
- October 25, 2011 | Item | ShareThis
Radisson Mining Resources: Diamond Drilling Begins Drilling on the O'brien/Kewagama Property - More
- October 25, 2011 | Item | ShareThis
El Capitan Files Claims for an Additional 720 Acres - More
- October 25, 2011 | Item | ShareThis
Avion's Vindaloo Zone Continues to Return Wide Gold Intercepts, Hounde Property, Burkina Faso - More
- October 25, 2011 | Item | ShareThis
Medusa Mining Limited: Preliminary Development Timetable - More
- October 25, 2011 | Item | ShareThis
WestStar Resources Corp.: Phase One Exploration Underway at La Paloma - More
- October 25, 2011 | Item | ShareThis
Salazar Intersects New Massive Sulphide Lens in Curipamba With 13.60 Meters of 11.03 g/t Gold, 379.60 g/t Silver, 3.45% Copper, 25.20% Zinc and 1.58% Lead - More
- October 25, 2011 | Item | ShareThis
Terraco Commences Drilling at its Moonlight Property (Nevada) - More
- October 25, 2011 | Item | ShareThis
Allied Gold Mining PLC: Simberi Update - More
- October 25, 2011 | Item | ShareThis
Habanero Starts Work Program in Quebec - More
- October 25, 2011 | Item | ShareThis
GMR Global Mineral Resources Corp. Appoints Internationally Recognized Engineer as Chairman to its Advisory Board - More
- October 25, 2011 | Item | ShareThis
Rubicon Purchases Pre-existing Royalty Covering 'Land Claims' At Its Phoenix Gold Project, Red Lake, Ontario - "Rubicon Minerals Corporation (TSX:RMX.to - News) (NYSE-AMEX: RBY) ("Rubicon") is pleased to announce that, by exercising a right of first refusal, it has acquired, and thereby extinguished, the 3% net smelter returns royalty ("Land Claims Royalty") payable on the mining properties covering the land portion ("Land Claims") of Rubicon's Phoenix Gold Project in Red Lake, Ontario (i.e. excluding the mining properties lying beneath the waters of Red Lake, the "Water Claims"). Accordingly, this acquisition is separate and apart from the acquisition by Franco-Nevada Corporation of the pre-existing royalty on the Water Claims, as announced in Rubicon's news release of August 31, 2011, and as summarized below." More
- October 25, 2011 | Item | ShareThis
US Gold Corporation: El Gallo Drilling Intersects Impressive Silver Mineralization - "US GOLD CORPORATION (NYSE: UXG - News)(TSX: UXG - News) is pleased to announce new drill results from the El Gallo Complex, in Sinaloa State, Mexico. Drill results contained in this news release were completed in order to increase the size of the silver and gold resources at El Gallo. Highlights include: 309.7 grams per tonne (gpt) silver over 10.3 meters (m), 727.7 gpt silver, 5.0 gpt gold over 2.7 m, 130.9 gpt silver over 19.0 m and 461.7 gpt silver over 11.3 m, with the last intersection occurring 20 m below the proposed pit bottom." More
- October 25, 2011 | Item | ShareThis
Allied Nevada Gold Corp. Appoints Daniel Moore as Vice President, Technical Services - "Allied Nevada Gold Corp. ("Allied Nevada", "ANV" or the "Company") (TSX: ANV.TO - News)(AMEX: ANV.TO - News) is pleased to announce that Daniel Moore will join Allied Nevada and lead the technical team as Vice President, Technical Services effective November 7, 2011. Dan will be primarily responsible for managing the technical and engineering requirements of the Hycroft heap leach and mill expansions, as well as providing daily technical support of its current operations." More
- October 25, 2011 | Item | ShareThis
Excellon announces updated NI 43-101 resource estimate maintains high-grade mineral resource at Platosa Mine, Mexico - "Excellon Resources Inc. (TSX:EXN.to - News) ("Excellon" or "the Company") is pleased to report the results of the updated Mineral Resource estimate (as at July 31, 2011) for its 100%-owned Platosa Mine located in Durango State, Mexico. The results meet Company expectations and the Platosa Mine remains one of the highest grade producing Ag, Pb, Zn deposits in Mexico." More
- October 25, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 25 October, 2011 | |
