European stock markets started deep in the red on cautious German comments not to expect all euro debt problems to be solved on the Oct 23 EU-summit.
But again the whisper circuit was turning to the wider possible policy range of the ECB and losses mitigated. The German DAX index even ended with a modest gain. Wall Street continued this trend, erasing early losses and rallying to a 2% gain on the S&P.
Precious metals were mixed. Gold continued weakening with a 0.7% loss to $1660 by 4:30 pm, whereas silver almost covered back yesterday's loss with a 1% gain to $32.15. After a weak start, miners largely responded to markets progressing with gains ultimately outnumbering losses 2:1 on the GMP list.
The gold miners index is up a modest 0.35%, the silver miners index gains 1.1% and the equal weight index is up 0.74%. We have 4 double digit gains against one double digit loss.
The lucky ones are
- Century Mining Corporation
- Eco Oro Minerals Ltd.
- Aura Minerals Inc.
- TVI Pacific Inc.
The laggard is Galantas Gold Corporation.