Gold fell in Asia and dropped under $540 in early London trade before steadily rising throughout the rest of trade in London and New York and ended near its highs with a nice gain to close within 30 cents of its 24 and ½ year high set on Monday.  Silver traded mostly lower in Asia and London before it rose in New York, but it ended still 18 cents away from its 18 and ½ year high set on Monday.

Gold and silver equities traded mixed and near unchanged throughout trade.

Euro gold climbed back near all-time highs above €450, platinum lost $2 to $1,006, palladium remained unchanged at $270, copper fell slightly from all-time highs near $2.15, and the CRB Index lost 0.74 to 335.71 to fall further from its 25 year high of 339.47 set on Friday.

More Precious Metals Analysis:

“After some early back and forth action in gold and silver the market showed more aggressive long side interest into the final hours of trade. Apparently a weaker Dollar helped spur some of the buying but we also noted a favorable spin from Dollar weakness and talk of another gold firm buyout. We also think that some in the trade were bidding up gold because they expect Chinese to increase their gold reserves. In the end, the gold market continues to send of signals that price weakness will be met with ongoing buying and that is giving the bull camp an edge.” - The Hightower Report, Futures Analysis and Forecasting

The U.S. dollar index traded slightly higher overnight before dropping after some fed comments, but the focus in the currency market remains economic reports due out tomorrow.  Traders also had their eyes on an ECB meeting tomorrow that may hint towards further rate hikes in Europe after the ECB raised rates for the first time in 5 years last month.  The yen rose to a new 2 and ½ month high.

Oil initially traded lower this morning ahead of the inventory report that showed crude inventories fell 2.9 million barrels, gasoline inventories built 4.5 million barrels, and distillates built 4.9 million barrels.  While the drop in crude was larger than expected, the builds in gasoline and distillates were also larger than expected and oil initially remained lower as a result, but traders soon sent prices higher as they looked further into the report and saw that demand has remained strong.  Concerns over Iran also helped to send the price of oil to a 3 month high.

Treasuries started off the day lower and remained lower after “the government's sale of $13 billion of five-year notes met with the lowest demand since April.” Tomorrow brings the auction of $9 billion in Treasury Inflation Protected Securities (TIPS).

The Dow, Nasdaq, and S&P traded mixed and near unchanged on mixed earning reports for most of trade before gaining a bit late in the day after New York's Federal Reserve president gave a speech saying core inflation is "quite moderate."

Among the big names making news in the market today were Lear Corp., J&J and Guidant, Ford, Compuware, Boeing, Genentech, Bayer and Icon Genetics, BP, DuPont, and OfficeMax.

Gold & Silver Stock News Update from GoldReview.com:

More news on Gold Fields’ offer for Bolivar Gold, Crystallex’s draw down notice to Azimuth Opportunity, Cardero’s new board member, Cambior’s new board member, Freeport-McMoRan’s Indonesian probe, and Goldcorp’s acquired stake in Beaufield were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

All of today's gold and silver stock news:

Barrick Receives Final Regulatory Approval for Placer Dome Offer Which Expires January 19, 2006 - "Barrick Gold Corporation announced today that it has received regulatory approval from the South African Competition Tribunal in connection with its offer to acquire all the outstanding shares of Placer Dome Inc. The Tribunal today accepted the South African Competition Commission's recommendation, issued on December 15, 2005, that the transaction be approved on an unconditional basis." More
- January 11, 2006 | Item | E-mail

Gold Fields Raises Offer for Bolivar Gold by 6.7% - "Gold Fields Ltd., the world's fourth- biggest gold producer, raised an offer for Canada's Bolivar Gold Corp. by 6.7 percent after shareholders including Scion Capital LLC said it was too low. Gold Fields, based in Johannesburg, increased the bid today to C$3.20 ($2.75) a share, or $360 million, from C$3, or $330 million, on Nov. 21, John Munro, head of corporate development for Gold Fields in Johannesburg, said in a telephone interview. Scion rejected the new offer." More
- January 11, 2006 | Item | E-mail

Golden Valley Mines Ltd.: James Bay Cheechoo Gold Project and Abitibi 2006 Field Exploration Updates - More
- January 11, 2006 | Item | E-mail

Woodruff Capital Management Inc. Announces 2006 Exploration Program on Estrades Property - More
- January 11, 2006 | Item | E-mail

Ventura Acquires Copper-Gold Property in Arizona: - More
- January 11, 2006 | Item | E-mail

Southern Arc completes acquisition agreement with Newmont - More
- January 11, 2006 | Item | E-mail

Millstream Reports Terms Of Private Placement - More
- January 11, 2006 | Item | E-mail

Pioneer Provides More Information On Legal Action Against NovaGold - More
- January 11, 2006 | Item | E-mail

Cloudbreak closes European acquisition of Stellar Minerale SRL - More
- January 11, 2006 | Item | E-mail

Firestone Ventures Identifies Multiple Targets on Sonora Gold Property, Yukon - More
- January 11, 2006 | Item | E-mail

Ressources Pershimco Inc. gets 503.2 g/t Ag and 8723 g/t Ag 1.04 % Zn in drift at San Miguel, Mexico - More
- January 11, 2006 | Item | E-mail

Crystallex International Corporation: Press Release - "Crystallex International Corporation announced today that it has delivered a draw down notice to Azimuth Opportunity, Ltd. under the terms of its purchase agreement with respect to its previously announced equity draw down facility." More
- January 11, 2006 | Item | E-mail

Amanta Reports Initial Results of Trenching Programme at Langu Gold Project - More
- January 11, 2006 | Item | E-mail

Almaden Minerals Ltd.: Drilling intersects High-grade Gold at the Elk Project, B.C. - More
- January 11, 2006 | Item | E-mail

Bravo Venture Group Inc.: Drilling Resumes at South Lone Mountain Property - More
- January 11, 2006 | Item | E-mail

African Gold Group, Inc.: Nyankumasi, Ghana: 4 Kilometre Mineralized Strike Length Identified - More
- January 11, 2006 | Item | E-mail

Dr. Murray W. Hitzman Joins Cardero Board - "Cardero Resource Corp. is extremely pleased to announce that that Dr. Murray W. Hitzman has agreed to join the Company's board of directors immediately to fill the vacancy created by the resignation of Michael W. Kinley, C.A. Mr. Kinley resigned from the board on January 4, 2006, in order to take a more active role in the Company as Chief Financial Officer." More
- January 11, 2006 | Item | E-mail

Gold Fields ups Bolivar offer, Scion unimpressed - "South Africa's Gold Fields Ltd. boosted its takeover offer for Canada's Bolivar Gold Corp. to about $360 million on Wednesday, but it wasn't enough for Bolivar's main shareholder. Scion Capital, which holds a 19 percent stake in Bolivar, called the increase "an insult to Bolivar shareholders" and said it would vote against the new offer."Shareholders simply should not give up now," Scion said." More
- January 11, 2006 | Item | E-mail

Typhoon Updates Work Program at Fayolle - More
- January 11, 2006 | Item | E-mail

John Hick Rejoins Cambior's Board - "Mr. Hick has over 20 years of senior management experience in the gold mining industry, most recently as CEO of Rio Narcea Gold Mines, Ltd., of which he is currently Vice-Chairman and a director. Mr. Hick was first appointed Director of Cambior in June 2000 and acted in such capacity until late 2004." More
- January 11, 2006 | Item | E-mail

Castleworth Receives OK for Acquisition of Jessup Gold Project Option; C$400,000 Financing Closes - More
- January 11, 2006 | Item | E-mail

South American Gold and Copper Company Limited Announces Diamond Drill Program at Pimenton by Rio Tinto - More
- January 11, 2006 | Item | E-mail

Temex intersects 38.21 g/t (1.1 ounces) gold over 4.80 metres (15.7 feet) - Hugh Pam Zone, Whitney Township Property, Timmins Gold Camp - More
- January 11, 2006 | Item | E-mail

North Atlantic Resources Ltd.: Delineation Drilling Results From The FT Gold Project, Republic Of Mali, Include 42 Meters Grading 2.19 g/t Gold - More
- January 11, 2006 | Item | E-mail

Paramount Gold Closes Additional Financing at $3.50 per share - More
- January 11, 2006 | Item | E-mail

Metallic Ventures Gold Inc. Announces Results of Drilling Program That Expands Zones at the Goldfield Project in Nevada - More
- January 11, 2006 | Item | E-mail

Pelangio reviewing exploration plans for five targets at Ghana property - More
- January 11, 2006 | Item | E-mail

Magnus International Resources Inc. Updates on Current Drilling at Mangshi Property and Provides Summary of Previous 2004 Channel Sampling Program - More
- January 11, 2006 | Item | E-mail

Kinbauri Announces First Half 2006 Exploration Program; Winter Drilling Planned at Corcoesto and Fiedmont - More
- January 11, 2006 | Item | E-mail

Entree Gold's 2005 Exploration Adds to Lookout Hill and Ulziit Uul Potential - More
- January 11, 2006 | Item | E-mail

Rae uranium airborne survey results - More
- January 11, 2006 | Item | E-mail

American Goldfields Announces Board Appointment - More
- January 11, 2006 | Item | E-mail

Cream Minerals Ltd.: Evaluation of Once Bocas Silver-Gold Zone - More
- January 11, 2006 | Item | E-mail

Golden China Update on the Resource Drill-Out at Nibao And Drilling at Beyinhar and Wangmo - More
- January 11, 2006 | Item | E-mail

Alhambra Appoints Vice President and Chief Information Officer - More
- January 11, 2006 | Item | E-mail

Scion Capital Rejects 6.7% Bump by Gold Fields - "A 6.7% bump is an insult to Bolivar shareholders as it is not materially different from the offer we have been considering since November," said Michael Burry, Scion Capital's President. "Scion Capital has been revealing the truths about this deal all along, and the truth is Gold Fields blinked because they do not have the votes." More
- January 11, 2006 | Item | E-mail

Gold Fields raises Bolivar offer to US$360 mln - "South Africa's Gold Fields Ltd boosted its takeover offer for Canada's Bolivar Gold by 9 percent to about US$360 million on Wednesday, but was unsure if Bolivar's main shareholder would support it. Gold Fields, the world's fourth biggest gold producer, increased its offer to C$3.20 ($2.75) per ordinary share from C$3.00, the two firms said in a statement." More
- January 11, 2006 | Item | E-mail

Indonesia to Probe Freeport-McMoRan Claims - "Indonesia's attorney general said Wednesday he would look into allegations that a U.S. gold-mining company illegally paid $20 million to security forces. New Orleans-based Freeport-McMoRan Copper & Gold Inc. has denied breaking any laws, saying it has been transparent about providing logistical support to Indonesian troops near its mine in the remote province of West Papua." More
- January 11, 2006 | Item | E-mail

Goldcorp Acquires Strategic Stake In Beaufield - "Beaufield Consolidated Resources Inc. is pleased to announce that it has entered into an agreement with Goldcorp Inc. whereby Goldcorp will purchase, on a private placement basis, 6.8 million units of Beaufield at a price of $0.50 per unit for gross proceeds of $3.4 million. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one Common Share at $0.55 for a period of 2 years." More
- January 11, 2006 | Item | E-mail

Gold Fields and Bolivar Gold Announce Increase in Share Price Payable to Cdn$3.20 Under the Plan of Arrangement and Extension of Proxy Deposit Deadline - "The Board of Directors of Bolivar continues to recommend that Bolivar securityholders vote FOR the plan of arrangement. In connection with this improvement to the terms of the plan of arrangement, the Board of Directors of Bolivar has extended the deadline for the submission of proxies in connection with the meeting of Bolivar securityholders to be held on Thursday January 12, 2006 until 8:00a.m. (Toronto time) on January 12, 2006." More
- January 11, 2006 | Item | E-mail

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