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In The Two Best Gold Investments In The World Right Now, Steve explains why gold is one investment that investors may soon be willing to pay almost any price to get… and how two gold investments in particular could easily double or triple in price over the next few years.

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Gold steadily climbed higher in Asia and London to about $625 by the open in New York.  It then briefly dropped back near $620, but it soon continued its rise and rocketed higher into the close to end near its highs of the session with a 2.16% gain.  Silver jumped above $14 in Access trade late yesterday before it fell back near unchanged in Asia, but it then steadily climbed higher in London and New York and ended near its highs with a 5.29% gain.  Both metals are also trading about 1% above their closing levels in today’s after hours Access trade at the time of writing.

Euro gold jumped to new all-time highs around €515, platinum gained $6 to $1,112 to new 26 year highs, palladium gained $7 to $368 to new 3 and ½ year highs, and copper remained near all-time highs at just under $3 per pound.

Gold and silver equities held near unchanged for much of trade, but they then started moving higher at about 1PM EST and climbed for the rest of trade to end near their highs of the session at new all-time highs.

More Precious Metals Analysis:

From Peter Grandich of the Grandich Letter:

“Gold is approaching my long-term target of $650-700 and silver $14-15. While I do believe they can get substantially above those levels longer term, I do think its time to take out a caution flag as metals like copper have now become extremely overbought and no longer long term attractive much above $3 a pound. Many classic signs of frothiness now abound in commodities in general and while no one can ever pinpoint exact tops, this is not a good time to first becoming aggressively bullish. A sharp 10%-20% correction is lurking out there. The #1 bullish factor remains heighten geopolitical concerns but I do believe the countertrend rally in the secular bear market in the U.S. Dollar is over and a retest of the 80 area on the U.S. Dollar Index is a question of when, not if. Such a move should be most beneficial to gold and the springboard to get it above its old high down the road.”

From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com:

“*Silver is being squeezed, as is copper. There is no telling what a market can do on the upside when there is a legitimate squeeze.

*Those looking for silver to correct have missed as much as $4 of this silver move, which is around 40%, a staggering opportunity loss. Most did so because they viewed silver as the same market it was for so many years. They did not pay attention to the nuance changes.

*Same comment from me re gold. If you don’t know what GATA knows about the gold market, you don’t know the most important aspects of the market. Those who still don’t get it are paying the price for ignoring our 7 years of putting the facts together in a coherent story as told in our GATA DVD … www.GoldRush21.com

*Gold is moving up because the crooks have lost control. Silver is going nuts for the same reason.”

From Julian D.W. Phillips of www.goldforecaster.com:

“Gold has broken through against all barriers not because of one specific incident or a single specific situation on this globe.  Gold is reflecting the rapid spread of uncertainty as a series of problems stemming from the Oil market, but including the ripple of these through to the individual man in the street and his financial health.  

Gold is being bought by individuals and institutions, many new to the market for investment from Japan through India, to the developed world not in huge quantities but in sufficient amounts to overwhelm supply.  

The clear signs that there will not be sufficient oil to go around in the very near term can spark tensions from the stability of the oil currency, the U.S. Dollar to the impact the shortage of oil breeds as nations begin to squabble.   The potential for instability on so many fronts has never been greater or covered so much of our world!”

From The Hightower Report, Futures Analysis and Forecasting:

“The gold market showed early strength, backed off slightly in the wake of a slight up tick in the CPI core reading and then recovered into an even higher trading zone the late afternoon action. With the Dollar gapping down and staying under pressure for the entire session it seems that currency related buying was prevalent in the action. With the G8 and the UN apparently having a majority of players in favor of sanctions against Iran it is also possible that gold was lifted by flight to quality buying interest. With oil prices also pulsing to even higher levels and Nigerian militants threatening to resume attacks on Nigerian delta oil companies there was certainly a number of flight to quality issues to fan the bull flames on Wednesday. In the end the most dominating development of the day might have come from the Fed's Yellen who suggested that Indian and Chinese buyers were possibly serving to inflate metals prices.

The silver market virtually exploded and showed almost no negative reaction to the setback in copper prices and to the slight change in view toward the US Fed rate expectation. However, the stock market was mostly supportive, the Dollar was weak and even a Fed member suggested that Chinese and Indian investors might be ongoing buyers of both gold and silver. In short, the investing and flight to quality elements in silver continued to circulate in the headlines and that was music to the ears of the bull camp.”

From Charleston Voice:

“If gold and silver ETFs are good enough for us why aren't they held as monetary reserves by central banks?

Answer: Because paper in is just paper out.”

Oil rose to over $74 in London on geopolitical concerns but it fell near unchanged ahead of inventory reports which showed crude inventories fell 800,000 barrels, gasoline inventories fell 5.4 million barrels, and distillates fell 2.8 million barrels.  Crude inventories fell rather than an expected build and gasoline inventories fell more than expected for the 7^th straight week and that eventually pushed oil prices to new record highs over $72.

Treasuries fell and the U.S. dollar index found some strength early on the CPI report that encouraged more fed interest rate hikes, but the dollar then fell off into the close and ended at a new 7 month low as the prevailing belief continues to be that the fed will in fact stop raising interest rates soon.  Treasuries, however, were not able to recover from their early losses and remained near their lows into the close.

The Dow, Nasdaq, and S&P remained near unchanged and ended with slight gains as traders digested a slew of earnings reports from companies from both late yesterday and today.  Also on traders minds were the CPI report and record high oil.  The Nasdaq performed especially well and gained over 0.5% to a new 5 year high.

Among the big names making news in the market today were Juniper, Intel, EBay, Kraft, Qualcomm, United Tech, Honeywell, American Airlines, Cingular, Abbott, Piper Jaffray, JPMorgan, Pfizer, and Coca-Cola.

GATA Posts:

China's president brings gift to Washington: big gain in yuan's exchange rate

James Turk: When will the Fed stop?

Study clears silver dental fillings of causing hard-money fanatics

Jim Rogers discovers gold, a couple hundred dollars late

Rob Kirby: An ode to the 200-day moving average

Ted Butler says silver shorts are looking like cornered rats

“My Two Ounces”

Wow!  What a day!  I welcome reader comments on today’s action, the new additional comments from various analysts in today’s report, today’s line-up of articles on goldseek, and anything else you feel like commenting on.

What are your two ounces?  Access our forum here or send your comments by email to cm@goldseek.com

Gold & Silver Stock News Update from GoldReview.com:

Silver Wheaton’s 1^st quarter earnings, Victoria’s signed letter of intent for the Relief Canyon Project, Aurizon’s drill results, Tanzanian Royalty’s drill results, Cardero’s Iron Sands Project, AngloGold Ashanti’s 3.36 million share purchase, NovaGold’s shareholder rights plan, Ivanhoe’s drilling at Amethyst Castle and Three Amigos, and Endeavour’s drill results 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:

/C O R R E C T I O N from source - International Royalty Corporation/ - More
- April 19, 2006 | Item | E-mail

StrataGold makes final payment for Dublin Gulch and Clear Creek - More
- April 19, 2006 | Item | E-mail

Silver Wheaton First Quarter Earnings Increase 165% to US$13.8 Million - "Record net earnings of $13.8 million ($0.07 per share) from the sale of 2.7 million ounces of silver, compared to $5.2 million ($0.03 per share) from the sale of 2.3 million ounces of silver in 2005. Record operating cash flows of $13.9 million (2005 - $5.2 million). In March, 2006, Silver Wheaton amended its silver purchase contract with Goldcorp, increasing the minimum number of ounces to be delivered by Goldcorp over the 25 year period by 100 million ounces, to 220 million ounces, and waiving any capital expenditure contributions previously required to be paid by Silver Wheaton. Total consideration paid by Silver Wheaton was $136 million." More
- April 19, 2006 | Item | E-mail

Trade Winds Ventures Inc. and Gowest Amalgamated Resources Ltd. Complete Purchase and Sale of Gowest Property - More
- April 19, 2006 | Item | E-mail

Victoria Signs Letters of Intent for the Relief Canyon Project and Seven Troughs Project in Nevada - "Victoria Resource Corporation, a 31% owned affiliate of Bema Gold Corporation, is pleased to announce that it has signed a Letter of Intent to lease the Relief Canyon Project from Newmont USA Limited, a subsidiary of Newmont Mining Corporation." More
- April 19, 2006 | Item | E-mail

Aurizon Reports High Grade Mineralization in Zones 118-120 at Casa Berardi - "Infill drilling has confirmed that high grade mineralization exists along the eastern end of Zones 118-120. Some significant results include: 29.0 gold grams/tonne over 8.6 metres; 7.7 gold grams/tonne over 21.0 metres; and 5.6 gold grams/tonne over 17.2 metres." More
- April 19, 2006 | Item | E-mail

Solid announces new Board Member - More
- April 19, 2006 | Item | E-mail

Royal Gold Announces Fiscal 2006 Third Quarter Conference Call - "ROYAL GOLD, INC., a leading precious metals royalty company, will report its third quarter fiscal 2006 results before the market opens for trading on Thursday, May 4, 2006. There will be a conference call that day at Noon Eastern Time (10:00 a.m. Mountain Time) which will be accessible via live internet broadcast and dial-in conference capabilities." More
- April 19, 2006 | Item | E-mail

Bear Creek Mining Corporation board of directors approves adoption of Shareholder Rights Plan - More
- April 19, 2006 | Item | E-mail

Globex-Queenston JV to Resume Drilling on High-Grade Wood-Pandora Discovery - More
- April 19, 2006 | Item | E-mail

Typhoon Updates Exploration Activities at Fayolle - More
- April 19, 2006 | Item | E-mail

Endeavour Reports Additional High Grade Drill Intercepts From Guanacevi Project, Durango, Mexico - "High silver grades were intersected over mineable widths in seven of the first eight drill holes from the second crosscut on Level 13 underground at the Santa Cruz mine, including multiple intercepts in four drill holes. Drilling highlights include 938 gpt silver and 3.84 gpt gold (32.9 opt Ag equiv.) over 5.70 m (18.7 ft) including 2700 gpt silver and 12.70 gpt gold (97.2 opt Ag equiv.) over 1.30 m (4.3 ft) in hole DSC 2-8, as follows:" More
- April 19, 2006 | Item | E-mail

Tanzanian Royalty Drill Program Confirms Anomalous Gold Values at Luhala Over 1,200 Metres of Strike Length - "The Company is pleased to announce that assay results have been received from the last phase of drilling on its Luhala Gold Project in Tanzania. The assays confirm that the Main Zone at Luhala hosts anomalous gold values along a strike length of 1,200 metres, excluding a zone some 200 metres wide where a barren dyke cuts across the mineralized trend." More
- April 19, 2006 | Item | E-mail

Cardero Resource Corp.: Iron Sands Project, Peru; Infill Sampling Increases Magnetic Concentrate to 9.2 Weight Percent Over 5.5 km2 Area - "Cardero's near term strategy for the Iron Sands Project is to highlight a logistically easily accessible area containing sufficient magnetite (iron) bearing sands to support a 20 to 30 year integrated mining operation. Following this strategy, Cardero has focused its initial exploration work on the highest grade area the Pampa El Toro target, with additional magnetite bearing areas within the Company's large claim block to be examined in due course." More
- April 19, 2006 | Item | E-mail

Underwriters buy 3.36 mln Anglogold shares - Anglo - "Resources giant Anglo American said on Wednesday underwriters for offering of Anglogold Ashanti shares have exercised their option to buy 3.36 million shares for $51.24 per American Depository Share. After completion of the offering, Anglo American's holding in AngloGold Ashanti will be 41.8 percent, the company said in a statement." More
- April 19, 2006 | Item | E-mail

Odyssey Elaborates on Recent Results in Morocco and Turkey - More
- April 19, 2006 | Item | E-mail

LKA Releases Highlights of 2005 Year-End Financial Results - More
- April 19, 2006 | Item | E-mail

Inter-Citic Announces 2006 Gold Exploration Program to Include up to 20,000 Metres of Drilling and up to 50,000 Metres of Trenching at Dachang - More
- April 19, 2006 | Item | E-mail

First Quantum Files Revised Offer for Adastra Minerals - More
- April 19, 2006 | Item | E-mail

MetalCORP; Intersects More PLATINUM; Discovers New COPPER-GOLD Zone and Hits Massive Sulphides with COPPER-NICKEL on the NORTH ROCK Project - More
- April 19, 2006 | Item | E-mail

Cambodian Ventures Limited -- Update - More
- April 19, 2006 | Item | E-mail

Columbia Metals Enters Into Consulting Agreement With and Appoints Vernon E. Smith, P. Eng. - More
- April 19, 2006 | Item | E-mail

U.S. Precious Metals Acquires Significant Gold Exploration Properties - More
- April 19, 2006 | Item | E-mail

Haynes Capital Corp. to Represent Dahabu Resources' Tanzanian Gold Properties - More
- April 19, 2006 | Item | E-mail

Franc-Or Signs Agreement to Acquire Option on Mario, Peru - More
- April 19, 2006 | Item | E-mail

Rocmec Announces Start of Thermal Fragmentation Activities at the Russian Kid Gold Project - More
- April 19, 2006 | Item | E-mail

Royal Standard Minerals: Increase in Intended Private Placement - More
- April 19, 2006 | Item | E-mail

Tonogold Resources, Inc. Announces Drilling and Exploration Schedule for Nyac, Alaska Project - More
- April 19, 2006 | Item | E-mail

NovaGold Adopts Shareholder Rights Plan - "NovaGold Resources Inc. announced today that its Board of Directors has adopted a Shareholder Rights Plan. The Rights Plan has been adopted to ensure the fair treatment of shareholders in connection with any take-over bid for common shares of NovaGold. The Rights Plan seeks to provide shareholders with adequate time to properly assess a take-over bid without undue pressure. It also provides the Board with more time to fully consider an unsolicited take-over bid and, if applicable, to explore other alternatives to maximize shareholder value." More
- April 19, 2006 | Item | E-mail

Additional funding announced for Elder Creek and Eden properties, Nevada - More
- April 19, 2006 | Item | E-mail

De Beira Appoints Reginald N. Gillard as President & Director - More
- April 19, 2006 | Item | E-mail

Azco Mining Provides Update on Ortiz 2M-Ounce Gold Project - More
- April 19, 2006 | Item | E-mail

Avnel Confirms and Extends Zone of Significant Gold Mineralisation in a Diamond Core Drill Programme at the Kalana Property, South Mali - More
- April 19, 2006 | Item | E-mail

Cypress Development Corp. Announces Three Drill Programs for Gold and Silver-Copper Projects in Nevada - More
- April 19, 2006 | Item | E-mail

Georgia Prepares to Drill the Bogutu Gold Deposit in China - More
- April 19, 2006 | Item | E-mail

Terex Signs Deal and Announces Consolidation of Gold Properties in the Mishibishu Greenstone Belt - More
- April 19, 2006 | Item | E-mail

Semafo Purchases Mining Fleet for Mana Project - More
- April 19, 2006 | Item | E-mail

Additional positive results reported from Pelangio's Block A at Detour Lake - More
- April 19, 2006 | Item | E-mail

Drill results expand silver mineralization at Corani exploration updates on other projects - More
- April 19, 2006 | Item | E-mail

Golden Goose Resources Inc.: Magino Drilling Intersects Multi-Ounce Gold Values at Depth and Confirms New Targets - More
- April 19, 2006 | Item | E-mail

Estrades Project - Update on scoping study and in-fill drilling program - More
- April 19, 2006 | Item | E-mail

High-Grade Gold Results and New Alteration Zone Discovery by Trade Winds at Detour Lake, Ontario - More
- April 19, 2006 | Item | E-mail

Wits Basin Announces Letter of Intent to Acquire Silver Interest - More
- April 19, 2006 | Item | E-mail

Journey Enters Letter of Intent to Option Interest in Vianey Mine Consession - More
- April 19, 2006 | Item | E-mail

Serabi Mining plc Reports First Quarter 2006 Operating Results - More
- April 19, 2006 | Item | E-mail

AngloGold Ashanti First Quarter 2006 Earnings Call Details - "AngloGold Ashanti's first quarter 2006 earnings conference call will take place on Friday, May 5 at 9:00am EST. Participants can access the call from North America by dialing (800) 860 2442 or (412) 858 4600 and referencing 'AngloGold Ashanti.' To access the call from the UK, dial 0800 917 7042 or 020 7107 0611." More
- April 19, 2006 | Item | E-mail

Ivanhoe Mines to Begin Drilling at Amethyst Castle Copper-Gold-Uranium Project, Mt. Isa District, Australia - "Douglas Kirwin, Ivanhoe Mines Executive Vice-President, Exploration, announced today that Ivanhoe Cloncurry Mines Pty. Ltd., a wholly-owned subsidiary of Ivanhoe Mines, will begin drilling at the 100%-owned Amethyst Castle and Three Amigos copper, gold and uranium prospects in the Mt. Isa District, northwestern Queensland, Australia." More
- April 19, 2006 | Item | E-mail

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- Written by Chris Mullen

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

The Gold Seeker Closing Report is a free edition providing a daily wrap-up of gold & gold-related news.  For more in-depth analysis of the gold markets, subscribe to The Gold Forecaster.

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/.

© Gold Seeker 2006

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