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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 initially rose over $660 in Asia before it fell back under $655 in later Asian trade, but it then rose back up to trade at around $660 in London.  Gold then rose to $670 in morning New York trade and extended its gain in afternoon trade to end near its highs with a 2.48% gain.  Silver seesawed in Asia and rose near $12.75 in London before it rose above $13 in New York and ended near its highs with a 5.78% gain.

Euro gold rose back above €520, platinum gained $35 to $1,310 to match its all-time closing high, palladium gained $20 to $358, and copper rose over 30 cents to above $3.75.

Gold and silver equities rose about 5% in the first hour of trade and remained near their highs for much of trade, but they then sold off in the last 2 hours of trade and ended with only around 2% gains.

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

“There is almost hysteria out there about the commodity market bubble. Article upon article relates how pension and hedge fund money has been chasing commodities, driving up the prices without thought to value … a giant momentum trade. There have also been numerous articles of late about the carry trade buying in the past which has begun to fall apart. Looming disaster seems to be the general mantra of the Planet Wall Street financial market press.

Is this true and will commodity prices collapse, or does that assessment hold only a kernel of truth in it … and one which does not represent the true story of what is happening out there? One thing for sure, a soaring commodities market is not in the interest of most of Planet Wall Street, so anything to discredit the move higher will get their attention.”

From The Hightower Report, Futures Analysis and Forecasting:

“The gold market posted an impressive session, with moderate early gains mostly holding up throughout the session and then the market firming even further in the afternoon action. With the Dollar mostly unchanged, the gold market didn't have to concern itself with the currency market action and with the US stock market higher, the gold market didn't have to concern itself with the softer than expected US economic numbers. With the World Gold Council talking up soaring investment demand in the 1st Quarter and the Chinese demand prior to the US opening revised upward, the recent negative view toward physical and investment demand was improved dramatically. In another unrelated story, some analyst were suggesting that the bull market in gold was something more than a fluke speculative bubble, because of the ultra strong demand and price action in a host of esoteric metals like Rhodium and Tungsten. With the copper market exploding for a historical type rally the whole physical demand story in gold takes on an added measure of credence. Lastly seeing the energies and equities rally at the same time seems to rekindle the growth and inflation outlook!

Not to be outdone the silver market also posted a very impressive rally. Certainly the optimistic investment demand from the World Gold Council provided the silver market with some buying interest, but we have to think that the sharp run up in copper prices was key in shifting control over silver to the bull camp. While the market noted a slight contraction in the scheduled US economic reports, seeing copper, gold, platinum, stocks and energies rise in sync seemed to suggest that the growth and inflation argument was back in play. Various fund managers suggested that the recent break in commodities was simply being seen as a buying opportunity.”

Oil rose near $72 ahead of inventory reports tomorrow as concerns about upcoming hurricanes and a call for an OPEC output cut by Venezuela continue to weigh on the market.  Geopolitical concerns over Iran and Nigeria and a refinery fire also added to supply worries.

The U.S. dollar index remained near unchanged as traders continued to debate interest rates and where they are heading in different areas of the world.

Treasuries fell as safe-haven buying eased and the trend of the past few days reversed ahead of economic data later this week that may give traders a clue to the fed’s future actions.

The Dow, Nasdaq, and S&P found decent gains early on, but they then fell off in the last hour of trade and ended near their lows with notable losses as inflation concerns over energy returned to the market.

Among the big names making news in the market today were Nike and Apple, Toll Brothers, Whirpool, Fannie Mae, Vonage, M&S, Euronext and Deutsch Boerse and NYSE, and Ford.

Gold & Silver Stock News Update from GoldReview.com:

A free, new stock report by Peter Zihlmann on Silver Wheaton was posted on the site today.  Northgate Minerals’ (NXG) offer for all the outstanding shares of Aurizon (AZK), Richmont’s (RIC) re-statement and re-filing of their 1^st quarter results, Nevsun’s (NSU) official opening of the Tabakoto Mine in Mali and new appointments, and Rubicon’s (RBY) feasibility study 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:

Palladon Announces Option Agreement on Nevada Gold Properties - More
- May 23, 2006 | Item | E-mail

Eurasia Gold Corp. completes acquisition of JSC Charaltyn and changes name to Eurasia Gold Inc. - More
- May 23, 2006 | Item | E-mail

Lone Star Project Moves to Next Level of Advanced Stage Exploration - More
- May 23, 2006 | Item | E-mail

Goldstake Completes Private Placement - More
- May 23, 2006 | Item | E-mail

Cambodian Ventures Engages Tiger Capital for Comprehensive Investor Relations Program - More
- May 23, 2006 | Item | E-mail

Full Metal Acquires 811,000 Acres in Eastern Alaska - More
- May 23, 2006 | Item | E-mail

Mirasol Resources Receives Funds from Exercise of Warrants - More
- May 23, 2006 | Item | E-mail

Goldrea Resources Corp.: Wardrop Contracted For Daye Mine Technical Report - More
- May 23, 2006 | Item | E-mail

Franklin Releases Potential Production Capacity of First Cerro Rico Processing Plant - More
- May 23, 2006 | Item | E-mail

PGM Announces $25,000,000 Financing for Aguas Tenidas Project - More
- May 23, 2006 | Item | E-mail

AfriOre Akanani Platinum Project Update - More
- May 23, 2006 | Item | E-mail

Randsburg announces Elephant joint venture update - More
- May 23, 2006 | Item | E-mail

Haber, Inc. Reports Results of Shareholder Meeting - More
- May 23, 2006 | Item | E-mail

Eagle Plains Raises $1.2 Million Through Warrant Exercise - More
- May 23, 2006 | Item | E-mail

High River Gold Exceeds Initial Resource Target at the Bissa Project, Burkina Faso - More
- May 23, 2006 | Item | E-mail

Nevsun Resources Ltd.: Tabakoto Gold Mine Opening - "President Amadou Toumani Toure was accompanied by three Ministers of State, including Mr. Hamed Semega the Minister of Mines, and by local and regional dignitaries. The official opening of the Tabakoto Mine marks another step in the continued development of Mali's important mining resource sector. Nevsun is proud to add its name to the list of Mali mine operators which includes Randgold at Loulo and Anglogold Ashanti (in partnership with Iamgold at Sadiola and Yatela as well as with Randgold at Morila)." More
- May 23, 2006 | Item | E-mail

Richview Resources Inc. Increases Private Placement to $5,550,000 - More
- May 23, 2006 | Item | E-mail

Campbell Resources announces filing of an application to TSX to complete equity financings of up to $17.5 million - More
- May 23, 2006 | Item | E-mail

Western Warrior starts drilling at Eppler Lake - More
- May 23, 2006 | Item | E-mail

Columbia Announces Addition To The Board Of Directors - More
- May 23, 2006 | Item | E-mail

Newgold, Inc. Nears Completion of Environmental Work at Its Relief Canyon Mine in Nevada - More
- May 23, 2006 | Item | E-mail

Minera Andes Drilling Cuts 221 Meters (725 Ft) of 1.62% Copper at Los Azules Project, Argentina - More
- May 23, 2006 | Item | E-mail

Goldstake: Nickel/Copper NI 43-101 Report Completed - More
- May 23, 2006 | Item | E-mail

Northland Completes Purchase of 100% of Barsele Gold Project, Sweden - More
- May 23, 2006 | Item | E-mail

Maestro Announces Option to Acquire Six Nevada Gold Properties - More
- May 23, 2006 | Item | E-mail

Nevada Court Rules Furusho Is Sole Director of Goldtech Mining Corporation - More
- May 23, 2006 | Item | E-mail

Argentex doubles land holdings at flagship Pinguino Silver-Gold Project in Argentina - More
- May 23, 2006 | Item | E-mail

Scorpio Mining Sampling from 8th Level of Nuestra Senora Silver Mine includes 22.5 metres of 407.92 g/t Ag, 8.22% Zn, 5.62% Cu, 1.49% Pb and 1.11 g/t Au - More
- May 23, 2006 | Item | E-mail

Tara Gold Gains Frankfurt Stock Exchange Listing - More
- May 23, 2006 | Item | E-mail

Sunridge Announces Drill Results and Start of Scoping Study on Debarwa Copper/Gold Project, Eritrea - More
- May 23, 2006 | Item | E-mail

De Beira Increases Financing to US$2,000,000 and Increases Price to US$4.20 Per Share - More
- May 23, 2006 | Item | E-mail

Silver Dragon Intersects New Mineralized Zone at Cerro Las Minitas Project, Mexico - More
- May 23, 2006 | Item | E-mail

Blue Note Metals Engages Drillers for Canoe Landing Lake Exploration - More
- May 23, 2006 | Item | E-mail

Exeter Commences Drilling on Cerro Puntudo Gold Property - More
- May 23, 2006 | Item | E-mail

Palladon Ventures Ltd.: Iron Mountain Project Update and Schedule - More
- May 23, 2006 | Item | E-mail

Nevsun Resources Ltd.: Appointment of Officers, Chairman and Committees - "Nevsun Resources Ltd. is pleased to announce the re-appointment of the officers: John Clarke, President and Chief Executive Officer; Cliff Davis, Executive VP and Chief Financial Officer; Gerald Gauthier, Chief Operating Officer; Bill Nielsen, VP Exploration; Judy Baker, VP Business Development and Investor Relations and Maureen Carse, Corporate Secretary." More
- May 23, 2006 | Item | E-mail

Rubicon Receives Results of the Kalukundi Feasibility Study - "David W. Adamson, President and CEO of Rubicon Minerals Corporation is pleased to announce that Rubicon has been advised of the results of the completed feasibility study on the Kalukundi copper-cobalt deposit located in the copperbelt of the DRC." More
- May 23, 2006 | Item | E-mail

Richmont Announces Re-Statement and Re-Filing of First Quarter Financial Results - "Richmont Mines Inc. announces that it has revised and re-filed its first quarter 2006 unaudited financial statements which were originally filed on May 5, 2006 with the result that the consolidated results for the three-month period ended March 31, 2006 now show net earnings of $660,447, or $0.03 per share, instead of a net loss of $1,465,085, or $0.07 per share." More
- May 23, 2006 | Item | E-mail

Northgate Minerals Corporation Announces Offer For All Outstanding Shares Of Aurizon Mines Ltd. - "Northgate Minerals Corporation announced today that, together with a wholly-owned subsidiary, it will make an offer to acquire all the outstanding shares of Aurizon Mines Ltd. Aurizon shareholders will be offered 0.741 of a Northgate common share for each Aurizon common share, which implies an offer price of Cdn$3.00 per share (based on Northgate's May 19, 2006 closing price on the TSX of Cdn$4.05). The offer represents a premium of 30.5% over the May 19, 2006 closing price of Aurizon's shares on the TSX." More
- May 23, 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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