Gold traded a couple dollars higher around $495 in Asia and London before jumping above $500 in New York.  Gold ended slightly off its highs, but it still closed with a gain of 2.05%.  Silver traded mostly slightly higher in Asia and London before it climbed higher in New York and ended near its highs with a 1.68% gain.

Gold and silver equities rose throughout trade and ended near their highs with impressive gains.  The XAU made new 9 year closing highs and the HUI and GDM made new all-time closing highs.

More Precious Metals Analysis:

“The precious metals finally saw enough of a rally to at least threaten the bear camp. With all the precious metals showing impressive upward action it would certainly seem like the funds were into the market in force. With tow major gold producing companies announcing a friendly buyout/merger during the trade that probably contributed to the bullish interest in futures, as it would seem like more players are viewing gold assets as undervalued. Even the Dollar slumped and that should have contributed to the new found optimism toward gold and silver.” - The Hightower Report, Futures Analysis and Forecasting

The U.S. dollar index fell following tame inflation data that took pressure off of the fed to continue to raise interest rates.

Oil fell on forecasts for warmer weather despite comments from OPEC that they will likely reduce production next year.

Treasuries rose on tame inflation data and the yield curve flattened further.

The Dow, Nasdaq, and S&P traded modestly higher Thursday morning before extending their gains in afternoon trade and ended near their highs of the session.

Among the big names making news in the market today were Maytag and Whirlpool, General Mills, ConAgra, American Greetings, Microsoft, and GE and Arden Realty.

Gold & Silver Stock News Update from GoldReview.com:

Barrick’s agreement with Place Dome, Cambior’s exploration update, Eldorado Gold’s resource update, Golden Star’s received final receipt for its Canadian prospectus, Goldcorp’s agreement to acquire some Placer assets, Glencairn’s closed equity financing, and Silver Wheaton’s completed C$100 million bought deal were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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- Written by Chris Mullen

Winners & Losers tracks NYSE and AMEX listed stocks that trade over $1.

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All sources are given within the report and most articles can be found as they are released at http://www.capitalupdates.com/, http://www.goldseek.com/, http://www.silverseek.com/, and http://www.goldreview.com/.

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