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-- Posted 11 November, 2011 | |
Please Note: CoT reports are delayed until Monday due to Veterans’ Day. | Close | Gain/Loss | On Week | Gold | $1787.20 | +$28.10 | +1.80% | Silver | $34.66 | +$0.64 | +1.58% | XAU | 212.43 | +3.33% | +1.66% | HUI | 603.65 | +3.72% | +2.20% | GDM | 1727.76 | +3.56% | +1.57% | JSE Gold | 3182.78 | +9.60 | +2.57% | USD | 76.89 | -0.75 | -0.10% | Euro | 137.50 | +1.40 | +7.49% | Yen | 129.69 | +0.90 | +1.38% | Oil | $98.99 | +$1.21 | +5.02% | 10-Year | 2.056% | UNCH | +0.29% | Bond | 141.3125 | UNCH | +2.60% | Dow | 12153.68 | +2.19% | +1.42% | Nasdaq | 2678.75 | +2.04% | -0.28% | S&P | 1263.85 | +1.95% | +0.85% |
 Magellan Minerals Ltd. (TSX-V: MNM) is a well-financed, Canadian-based junior exploration company focused on mineral exploration and development in the state of Para in northern Brazil. The Company has interests in a number of properties in the Tapajos region which has a historic gold production estimated at 20-30Moz of gold. The Company has two advanced gold projects, Cuiu Cuiu and Coringa, a 1.7Moz gold resource, and is currently drilling with six rigs. More
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The Metals: Gold saw slight gains in Asia and London, but it then accelerated higher in New York and ended near its early afternoon high of $1788.65 with a gain of 1.6%. Silver rose to as high as $34.826 and ended with a gain of 1.88%. Euro gold rose to about €1300, platinum gained $25.40 to $1641.20, and copper rose 10 cents to about $3.47. Gold and silver equities rose over 3% by late morning and remained near that level for the rest of the day. Can gold miners offer a safe haven? MarketWatch New gold bugs are young and restless MarketWatch Gold Traders Most Bullish Since 2004 on Deepening Debt Crisis Bloomberg Investors Fleeing Bonds, Savings Spur Record Flows Into Gold: India Credit The Economy: Report | For | Reading | Expected | Previous | Michigan Sentiment | Nov | 64.2 | 61.3 | 60.9 |
All of this week’s other economic reports: Next week’s economic highlights include PPI, Retail Sales, Empire Manufacturing, and Business Inventories on Tuesday, CPI, Net Long Term TIC Flows, Industrial Production, and Capacity Utilization on Wednesday, Initial Jobless Claims, Housing Starts, Building Permits, and the Philadelphia Fed on Thursday, and Leading Economic Indicators on Friday. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose as the U.S. dollar index fell on more progress in Europe that sent the Dow, Nasdaq, and S&P about 2% higher. Greece nominated a new prime minister and Italy’s Senate approved an economic reform bill. The bond market was closed in observance of Veterans’ Day. Among the big names making news in the market Friday were Facebook, Universal, Sony, EMI, Disney, MF Global, and Nvidia. The Commentary: “Risk trades were back on in several markets today with equities rallying, the US Dollar selling off and both gold and silver moving higher. Once again, copper was up and thus so was silver. The link between those two metals lately has been quite tight.
Gold bounced from support near $1750 and is moving back to towards $1800 once again. You might recall from the other day that I mentioned a large number of fresh short positions were shoved on at $1800 and above. We will see how those new bears defend those fresh positions. Bulls can give them plenty of headaches if they can muster the strength to push price through that recent high. Failing that, the market will see some liquidation from both floor traders and shorter term oriented longs who will note the inability to better that level and take that as a signal to book some profits.
Aiding the cause of the gold bulls is the very strong showing in the HUI today as it is currently up better than 3% and is above the 600 level on that index's chart. A strong close above this level to end the week would be very constructive on the weekly chart and would set the sector to mount a charge to the 610 level early next week. Failing to hold above 600 would discourage some of the bulls.
Initial downside chart support lies just below 580.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ GATA Posts: 
Swiss brokerage adopts GATA's view of imaginary 'paper gold' Dimitri Speck: Price irregularities in the silver market Negative interest rates in India driving record demand for gold The Statistics: Activity from: 11/09/2011 Gold Warehouse Stocks: | 11,222,852 | -7,489 | Silver Warehouse Stocks: | 108,002,329 | +35,095 |
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 | 1268.666 | 40,788,871 | US$72,287m | 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$6,628m | 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$7,253m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,307 | US$816m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.47 | 1,365,360 | US$2,398m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,946 | US$9m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.513 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 168.97: +0.53 change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 9,783.71: No change from yesterday’s data. The Miners: WINNERS 1. Tanzanian Royalty | TRX +24.02% $2.84 | 2. Avino | ASM +9.42% $2.09 | 3. Comstock | LODE +8.22% $2.37 |
LOSERS 1. Gold Reserve | GRZ -4.41% $2.82 | 2. Seabridge | SA -2.77% $22.84 | 3. Almaden | AAU -1.72% $2.75 |
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: Inter-Rock Interim Statement Re-filing - More
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Fancamp's Lac Lamelee Property-Latest Drilling Results - More
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Otis Announces Grant of Stock Options - More
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Northern Gold Reports Results for Eight Garrcon Gold Deposit Drill Holes Including 1 M @ 81 g/t - More
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Gilman Law LLP Announces Class Action Lawsuit Against Agnico-Eagle Mines, Ltd. - "Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Agnico-Eagle Mines, Ltd. ("Agnico-Eagle") and certain of its officers and directors violated the Securities Exchange Act of 1934, by issuing false and misleading information concerning the Company's overall operational and financial condition and well-being resulting from significant problems in the Company's mining operations and gold production at its Goldex mine in Val d'Or Quebec. Founded in 1953, Agnico-Eagle, a Canadian based international gold producer, engages in the exploration, development and production of mineral properties in Canada, Finland and Mexico." More
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Osisko Reports Third Quarter 2011 Results Net Profit of $9.3 Million - More
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El Tigre Silver Announces First Silver Assays for the Tailings Recovery Project in Sonora, Mexico - More
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Mexus Sells Gold - More
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Takara Identifies Seventeen New Targets on the Tassawini Gold Project, Guyana and Terminates GoldQuest Transaction - More
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General Moly Provides Update on State of Nevada Permits - More
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Crocodile Gold Reports Revenue of $30 Million on the Sale of 17,900 Ounces Gold in the Third Quarter of 2011 - More
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Nautilus Reports Solid Third Quarter Results - More
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GoldQuest Terminates Business Combination Transaction With Takara Resources Inc. and Receives a Report on Induced Polarization Survey - More
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Amerigo Announces Revised Record Date for Dividend - More
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Northern Iron Corp. Joins OTCQX International Marketplace in the U.S.A - More
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Mountain Lake: Over 25,000 Metres of Drilling in 150 Drill Holes Completed in 2011 at the Valentine Lake Gold Project in Central Newfoundland - More
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Li3 Energy Provides Maricunga Operational Update - More
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EURO Ressources Reports Earnings for the Third Quarter and Nine Months Ended September 30, 2011 - More
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B2Gold and Auryx Gold Sign Arrangement Agreement - More
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Barrick May Acquire Smaller Mines as Part of Expansion Drive - "Barrick Gold Corp. (ABX), the world’s largest producer of the precious metal, may buy smaller assets near existing mines as part of its strategy to boost output.
Barrick will look at such opportunities while also focusing on larger, “substantive” projects, Chief Executive Officer Aaron Regent said in a Nov. 9 interview at the company’s Toronto headquarters.
“It’s almost like a brownfield expansion, if there is a small mine that we discover or potentially acquire, because you bolt it on to existing infrastructure,” he said." 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 November, 2011 | |
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