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Gold Seeker Closing Report: Gold and Silver Rise With Stocks

By: Chris Mullen, Gold-Seeker.com



-- Posted 26 October, 2011 | |

 

Close

Gain/Loss

Gold

$1722.00

+$23.00

Silver

$33.25

+$0.14

XAU

197.66

+1.06%

HUI

556.87

+1.04%

GDM

1608.34

+1.08%

JSE Gold

2968.18

+50.33

USD

76.17

-0.05

Euro

138.96

-0.06

Yen

131.14

-0.33

Oil

$90.20

-$2.97

10-Year

2.203%

+0.075

T-Bond

138.78125

-1.28125

Dow

11869.04

+1.39%

Nasdaq

2650.67

+0.46%

S&P

1242.00

+1.05%

 
 

 

The Metals:

 

Gold rose over 1% in Asia before it fell back to $1702.20 in London, but it then rose to a new session high of $1726.50 in New York and ended with a gain of 1.35%.  Silver climbed to as high as $33.933 in London and ended with a gain of 0.42%.

 

Euro gold climbed above €1243, platinum gained $25.65 to $1584.50, and copper rose 7 cents to about $3.49.

 

Gold and silver equities rose about 1% at the open and remained near that level for most of the rest of trade.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Orders

Sep

-0.8%

-1.0%

-0.1%

Durable Orders -ex Trans.

Sep

1.7%

0.4%

-0.4%

New Home Sales

Sep

313K

300K

296K

MBA Mortgage Index

10/22

4.9%

-

-14.9%

 

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 10/22 expected at 402,000 and third quarter GDP expected at 2.3%.  The GDP Deflator is expected at 2.5%.  At 10AM is the Pending Homes Sales report for August expected at -0.9%.

 

The Markets:

 

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

 

Oil remained lower after the Energy Information Administration reported that crude inventories rose 4.7 million barrels, gasoline inventories fell 1.4 million barrels, and distillates fell 4.3 million barrels.

 

The U.S. dollar index waffled near unchanged on mixed signals out of Europe.

 

Treasuries remained lower after today’s 5-year note auction sold at a high yield of 1.055% with a bid to cover of 2.90.

 

The Dow, Nasdaq, and S&P ended higher on decent earnings reports.

 

Among the big names making news in the market today were Corning, Boeing, ConocoPhillips, Nokia, Olympus, Ford Motor, Bank of America, Amazon, and Sprint.

 

GATA Posts:

 

Neil Reynolds: Paper currency has too much bull, not enough bullion

Gartman Letter 'stunned' by favorable reference to GATA by FT's Gillian Tett

Jeff Nielson: SLV and silver manipulation

 

The Statistics:

Activity from: 10/25/2011

Gold Warehouse Stocks:

11,249,344

-351

Silver Warehouse Stocks:

105,932,971

-10,259

 

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

1244.156

40,000,857

US$68,582m

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$6,387m

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$6,974m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

473,393

US$786m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.47

1,365,600

US$2,261m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,947

US$9m

 Note: Change in Total Tonnes from yesterday’s data: SPDR added 10.592 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.21: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,734.81: -105.94 change from yesterday’s data.

 

The Miners:

 

Argentina Orders Oil, Gas, Mining Firms To Repatriate Export Sales  Fox Business

 

Newmont’s (NEM) dividend increase, Barrick’s (ABX) dividend increase, NovaGold’s (NG) agreement highlights, Freeport’s (FCX) attack, and Impact Silver’s (IPT.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Almaden

AAU+12.65% $2.85

2.  Jaguar

JAG +8.90% $4.77

3.  Richmont

RIC +5.94% $11.95

 

LOSERS

1.  Extorre

XG -17.70% $7.44

2.  Yamana

AUY-3.41% $14.99

3.  Minco

MGH -333% $1.16

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 Increases Quarterly Dividend by 17% to $0.35 per share, an Increase of 133% over the Prior Year's Quarterly Dividend - "Newmont Mining Corporation (NYSE:NEM - News) ("Newmont" or the "Company) announced today its Board of Directors declared a quarterly dividend of $0.35 per share of common stock, an increase of 17% over the $0.30 dividend paid in the third quarter 2011, and an increase of 133% over the fourth quarter 2010 dividend. The fourth quarter 2011 dividend of $0.35 per share is payable on December 30, 2011, to holders of record at the close of business on December 8, 2011." More
- October 26, 2011 | Item | ShareThis


Barrick Gold Announces 25% Dividend Increase - "Barrick Gold Corporation (NYSE: ABX - News)(TSX: ABX - News) today announced that, consistent with its practice of paying a progressive dividend, the Board of Directors has authorized a quarterly dividend of US15 cents per share, which represents a 25% increase from the previous dividend." More
- October 26, 2011 | Item | ShareThis


Black Smoker Provides Corporate Update - More
- October 26, 2011 | Item | ShareThis


Lithium Exploration Group CEO Addresses Shareholders - More
- October 26, 2011 | Item | ShareThis


IMPACT Silver Intersects Additional High Grade Silver: 1,007 g/t Silver Across 5.65m at Oscar Area, Mexico - "IMPACT Silver Corp. (TSX-V: IPT.V - News) ("IMPACT" or "the Company") is pleased to announce further high grade silver values from the first phase drill program on the Oscar Project. Highlights include 1,007 g/t Silver across 5.65m and 1,128 g/t Silver across 2.75 meters. Oscar is located only 2.5 kilometers east of the Company's operating 500-tpd (tonnes per day) Guadalupe processing plant in the 423-square-kilometer Royal Mines of Zacualpan District of central Mexico. These results are in addition to previously announced results from the Oscar Project which included multiple intersections over 1,000 g/t Ag (see IMPACT News Release dated October 20, 2011)." More
- October 26, 2011 | Item | ShareThis


Denison Mines Corp. Third Quarter 2011 Results Conference Call Friday, November 4, 2011 - More
- October 26, 2011 | Item | ShareThis


Eastern Platinum Limited: JIC and NUM Reach Settlement - More
- October 26, 2011 | Item | ShareThis


Catalyst Drill Program Continues to Expand La Verde - More
- October 26, 2011 | Item | ShareThis


Sheltered Oak Expands Kerrs Gold Deposit Along Strike and to Depth & Negotiates A $500,000 Bridge Loan - More
- October 26, 2011 | Item | ShareThis


Quaterra Announces Herbert Glacier Joint Venture With Grande Portage - More
- October 26, 2011 | Item | ShareThis


Black Iron Targets 1.0 to 1.2 Billion Tonne Mineral Deposit Grading 28% to 32% Iron With Resumption of Drilling at Shymanivske - More
- October 26, 2011 | Item | ShareThis


Maudore Provides a Strategic Update on the Comtois Project - More
- October 26, 2011 | Item | ShareThis


Ur-Energy Reports Third Quarter 2011 Results - More
- October 26, 2011 | Item | ShareThis


Timmins Gold Reports Second Quarter Production Results - More
- October 26, 2011 | Item | ShareThis


Nuinsco Reports Significant Increase in ETMI at Prairie Lake Project - More
- October 26, 2011 | Item | ShareThis


Huakan International Mining Inc. Extends Closing Date of Sale of Greenwood Gold Project Assets - More
- October 26, 2011 | Item | ShareThis


Update on the Lake Maitland Uranium Project - More
- October 26, 2011 | Item | ShareThis


Josephine Mining Corp. Announces Results of Annual General Meeting - More
- October 26, 2011 | Item | ShareThis


New Jersey Mining Company Intersects 2.05 g/t Gold Over 30.8 Meters at the Golden Chest Mine - More
- October 26, 2011 | Item | ShareThis


Merrex Releases Additional Siribaya Diamond Drilling Results - More
- October 26, 2011 | Item | ShareThis


Arianne Resources Appoints Guthrie J. Stewart to the Board of Directors - More
- October 26, 2011 | Item | ShareThis


Dia Bras Announces that the Access of Yauricocha and the Rest of the Region Has Been Cleared - More
- October 26, 2011 | Item | ShareThis


Star Gold Initiates Exploration Drilling at Longstreet Project, Nevada - More
- October 26, 2011 | Item | ShareThis


Mesa Exploration Acquires Seismic Data for Utah Projects - More
- October 26, 2011 | Item | ShareThis


Advanced Explorations Inc. Reports 63.85% Iron Discovery at Tuktu Project - More
- October 26, 2011 | Item | ShareThis


Grizzly 2011 Drilling and Exploration Updates - More
- October 26, 2011 | Item | ShareThis


Riverstone Completes Sale of Remaining Interest in Yaramoko, Solna and Bissa West Projects; Acquires 19% Interest in Roxgold Inc. - More
- October 26, 2011 | Item | ShareThis


Pan American Lithium CEO is Interviewed by Business News Americas - More
- October 26, 2011 | Item | ShareThis


Uranium Energy Corp Completes First Sale of Uranium - More
- October 26, 2011 | Item | ShareThis


Full Metal Zinc Appoints New President/Chief Executive Officer and Grants Stock Options - More
- October 26, 2011 | Item | ShareThis


NV Gold Completes Acquisition of Swiss Exploration Permit and Appoints Paul Zyla as a Director and David Bell as Technical Advisor - More
- October 26, 2011 | Item | ShareThis


Pacific Bay Drills 14 Metres of 102.59 g/t (3.3 opt) Silver, 0.52% Copper, 4.96% Zinc, 0.29% Bismuth at Haskins-Reed - More
- October 26, 2011 | Item | ShareThis


Equinox Purchases Mining Claims in Arizona - More
- October 26, 2011 | Item | ShareThis


Marifil Acquires Two Epithermal Gold Projects - More
- October 26, 2011 | Item | ShareThis


Goldrich Concludes Seasonal Exploration Program at Chandalar, Alaska - More
- October 26, 2011 | Item | ShareThis


Geologix's Tepal Drilling Extends Depth of South Zone with Elevated Grades of 0.86 g/t Gold and 0.38% Copper Over 102.4 Metres - More
- October 26, 2011 | Item | ShareThis


Aura Silver Uses Soil Gas Hydrocarbon Technology to Locate High-Grade Gold and Silver Sources at Aura Lake, Greyhound Project, NU - More
- October 26, 2011 | Item | ShareThis


Indigo Drills 6.16 gpt Au over 3.1 metres and 11.02 gpt Au over 1.77 metres at Moule - More
- October 26, 2011 | Item | ShareThis


Adventure Gold Discovers High-Grade Gold-Copper-Silver Mineralization on Its Pascalis-Colombiere Property - More
- October 26, 2011 | Item | ShareThis


Definitive Agreement Reached Between Niblack and Heatherdale - More
- October 26, 2011 | Item | ShareThis


Colombia Crest Gold Offers Up to 19.9 Percent Ownership to IAMGOLD - More
- October 26, 2011 | Item | ShareThis


Bralorne Intersects 23.35 Oz's Gold Per Ton Over 3.1 Feet - More
- October 26, 2011 | Item | ShareThis


Denison's Arizona 1 Uranium Mine Receives MSHA Sentinels of Safety Award - More
- October 26, 2011 | Item | ShareThis


Quantum Cites Risk List 2011 as More Evidence for Strategic Metals and Rare Earth Action - More
- October 26, 2011 | Item | ShareThis


Magma Enters Joint Venture on Greenwich Lake Property - More
- October 26, 2011 | Item | ShareThis


Bellhaven Announces Strategic Investment by IAMGOLD - More
- October 26, 2011 | Item | ShareThis


Activity and Cash Flow Report for quarter ended June 30 2011 - More
- October 26, 2011 | Item | ShareThis


Eurasian Minerals Added to Standard & Poor's S&P/TSX Venture Select Index - More
- October 26, 2011 | Item | ShareThis


Treasury Metals Reports Further High-Grade Gold Results on the Goliath Gold Project in Northwestern Ontario - More
- October 26, 2011 | Item | ShareThis


VMS Ventures Introduces Exploration Programs for Its Sudbury, Ontario Projects - More
- October 26, 2011 | Item | ShareThis


Oracle Mining Provides Oracle Ridge Design and Drilling Update - More
- October 26, 2011 | Item | ShareThis


Reg Technologies Inc. has Called a Special Meeting to Sell Its Interest in the Silverknife Property in B.C. - More
- October 26, 2011 | Item | ShareThis


New Pacific Metals Corp. Reports Exploration Activities at the Tagish Lake Gold Project - More
- October 26, 2011 | Item | ShareThis


GMR Global Mineral Resources Corp. Announces High Calibre Advisory Board - More
- October 26, 2011 | Item | ShareThis


Claude Resources Inc. to Acquire St. Eugene Mining Corporation Ltd. - More
- October 26, 2011 | Item | ShareThis


Garibaldi sampling yields high-grade silver at its Iris Project, Ocampo District, Chihuahua, Mexico - More
- October 26, 2011 | Item | ShareThis


Argentina Orders Oil, Gas, Mining Firms To Repatriate Export Sales - "Argentina on Wednesday ordered oil, gas and mining companies to repatriate all of the proceeds from their export sales as the administration of President Cristina Kirchner struggles to staunch capital flight." More
- October 26, 2011 | Item | ShareThis


AuRico Gold Completes Acquisition of Northgate Minerals Corporation - "With the completion of this strategic acquisition, AuRico is now positioned as a new leading intermediate gold producer with five operating mines and Young-Davidson targeting production at the end of Q1 2012. Ocampo and Young-Davidson alone have the potential to produce over 500,000 gold equivalent ounces at lowest quartile cash costs. With a strong balance sheet and a robust and growing cash flow profile, the new company is led by an experienced management team with a proven track record of creating value in the industry." More
- October 26, 2011 | Item | ShareThis


NovaGold Highlights Commercial Terms of the Ambler Agreement - "NovaGold Resources Inc. ("NovaGold") (TSX: NG.TO - News)(AMEX: NG.TO - News) is pleased to highlight commercial terms of the earlier announced Exploration Agreement (the "Agreement") with NANA Regional Corporation, Inc. ("NANA"), its Alaska Native partner. Under the Agreement, NovaGold and NANA consolidated their respective holdings in the Ambler mining district of Northwest Alaska, as described in the press release dated October 20, 2011." More
- October 26, 2011 | Item | ShareThis


Gunmen attack patrol car near Indonesia's Freeport - "Gunmen attacked a patrol car Wednesday near Freeport-McMoRan Copper & Gold Inc.'s troubled mine in eastern Indonesia, where thousands of workers are striking over pay. No one was wounded." More
- October 26, 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 26 October, 2011 | |


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