Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Almost 2% and 6% on the Week

Please Note: US and Canadian markets will be closed tomorrow in observance of Good Friday. However, jobs data will still be released at 8:30AM EST and CoT reports will still be released at 3:30PM EST. The Gold Seeker report will return on Monday.

	Close	Gain/Loss	On Week
Gold	$1125.10	+$11.15	+1.87%
Silver	$17.86	+$0.36	+5.93%
XAU	171.28	+3.63%	+6.11%
HUI	428.03	+5.18%	+6.61%
GDM	1280.59	+4.77%	+6.19%
JSE Gold	2243.92	+37.81	+3.14%
USD	80.71	-0.37	-1.04%
Euro	135.85	+0.75	+1.22%
Yen	106.51	-0.45	-1.48%
Oil	$84.87	+$1.11	+6.09%
10-Year	3.859%	+0.026	+0.10%
Bond	115.90625	-0.21875	+0.60%
Dow	10927.07	+0.65%	+0.71%
Nasdaq	2402.58	+0.19%	+0.31%
S&P	1178.10	+0.74%	+0.99%

Gold saw slight losses in Asia and modest gains in London before it shot markedly higher in morning New York trade and ended near its noontime high of $1127.90 with a gain of 1.001%. Silver jumped to as high as $17.98 by about 10AM EST before it fell back off a bit in the last few hours of trade, but it still ended with a gain of 2.057%.

Euro gold rose to about €829 (not far from its all-time high of €835 set on March 2^nd 2010), platinum gained $29.50 to $1667, and copper gained a few cents to a new 20-month high at about $3.58.

Gold and silver equities rose throughout most of trade and ended with roughly 4% gains.

Report	For	Reading	Expected	Previous
Initial Claims	3/27	439K	440K	445K
Construction Spending	Feb	-1.3%	-1.0%	-1.4%
ISM Index	Mar	59.6	57.0	56.5

Tomorrow at 8:30AM EST brings March’s jobs data. View the BLS Net Birth/Death adjustment here. Nonfarm Payrolls are expected at 190,000, the Unemployment Rate is expected at 9.7%, the Average Workweek is expected at 33.9, and Hourly Earnings are expected at 0.2%.

Next week’s economic highlights include ISM Services and Pending Home Sales on Monday, FOMC minutes on Tuesday, Consumer Credit on Wednesday, Initial Jobless Claims on Thursday, and Wholesale Inventories on Friday.

Oil climbed near $85 a barrel as the U.S. dollar index and treasuries fell after mostly better than expected economic data sent the Dow, Nasdaq, and S&P modestly higher.

Among the big names making news in the market today were Primerica, Borders, GM, RIM, JPMorgan, General Growth, and Bear Stearns:

“After months of litigation and political scrutiny, the Federal Reserve yesterday ended a policy of secrecy over its Bear Stearns Cos. bailout.

In a 4:30 p.m. announcement in a week of congressional recess and religious holidays, the central bank released details of securities bought to aid Bear Stearns’s takeover by JPMorgan Chase & Co. Bloomberg News sued the Fed for that information.”

“Final CME volume for Tuesday showed 175,652 gold contracts traded... with over 120,000 switches... so real volume was tiny. Gold's total open interest fell 3,163 contracts to 466,678 contracts. April's open interest fell 24,515 contracts to 15,354 contracts... and will have fallen further by the time the preliminary numbers for Wednesday are out... minus all deliveries as well. Silver's volume was 36,274 contracts... and open interest rose 765 contracts. All this will be in Friday's Commitment of Traders report.

Wednesday's Delivery Report from the CME showed that 2,756 gold and 19 silver contracts are posted for delivery on Monday, April 5th. The list of the big issuers and stoppers in gold [like yesterday] reads like a 'who's who' of the gold manipulation world. Only HSBC USA didn't put in an appearance. This report is also very much worth running through... and the link to the pdf file is here.

The U.S. Mint, which had obviously been withholding sales data for most of March, showed monstrous increases in sales of both gold and silver eagles. One ounce gold eagle sales jumped by 37,500 to end the month at 102,000. In silver eagles, the mint reported selling a gargantuan 1,481,000 to end March with total sales of 3,381,000. Year-to-date/end of quarter figures for both are as follows: One-ounce gold eagle sales... 271,000. Silver eagle sales... 9,023,500. The silver eagles sales for the first quarter of 2010 was the best single quarter ever in the history of silver eagles program... which started back in November of 1986... almost 25 years ago.

There were no changes reported in either GLD or SLV yesterday... but over at the Comex-approved depositories, they reported taking 598,332 ounces of silver into their inventories... most of which went into Brinks, Inc.”– From Ed Steer’s Gold & Silver Daily, read the full report here.

Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.40 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 76.96 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,278.18 - No change from yesterday’s data.

Yamana’s (AUY) reaffirmed guidance, Taseko’s (TGB) joint venture, Allied Nevada’s (ANV) updated mineral reserves and resources, Crystallex’s (KRY) financial results, Apollo Gold’s (AGT) definitive agreement with Linear Gold, and Kimber’s (KBX) drilling were among the big stories in the gold and silver mining industry making headlines Friday.

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

Creston Appoints Richard J. Hall to the Board of Directors - More
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Prophecy completes for Private Placement for $3,344,505 - More
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Arco Announces Additional Non-Brokered Financing - More
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Minera Andes Rejects TNR Gold Corp.'s Claim of Back-in Right - More
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Two Experienced Mining Executives Join Gold Reef Board and Are Hired as the Company's Senior Officers - More
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AuEx Ventures, Inc.: Trinity Agreement Signed With Liberty Silver Corp. - More
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Liberty Silver Announces Property Earn-In Agreement - More
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ESO Brokered Private Placement - More
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Goldrich Secures Financing to Acquire Equipment to Begin Commercial Production - More
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Andean American Completes 7.5 Million Share Financing - More
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Eagle Hill Completes First Phase of Drilling and Continues to Explore Bulk Mining Potential at Windfall Lake - More
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Brett Receives TSX Approval of IBA and Updates Drilling Activities - More
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Vena Resources Reports Financial Results for Fiscal Year 2009 - More
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Alturas Announces Second Tranche of Financing and Completion of Debt Settlement - More
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Conway Resources Enters Into New Agreement for the Acquisition of the Belleterre Mine - More
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Mercator Financial Results for the Year ended December 31, 2009 - More
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Lundin Mining Corporation: Neves-Corvo Copper Mine Industrial Action Ends - More
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Benton & Royal Roads Commence Drilling Range Copper Discovery, Long Range Joint Venture, Newfoundland - More
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Inspiration Intersects 1.15% Over 10.9 mt and 1.455% Ni Over 25.4 mt NNE of the Langmuir No. 1 Deposit Area - More
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Powertech Submits Permit Application to EPA for Deep Well Injection at Dewey-Burdock Project - More
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Northern Superior Resources Inc. Signs Letter of Intent to Acquire Lake Shore Gold Corp.'s 50% interest in the Ti-pa-haa-kaa-ning Gold Property - More
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Royal Roads & Benton commence drilling range copper discovery, Long Range joint venture, Newfoundland - More
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Big Bear Mining Corp. Secures $1,400,000 Financing Agreement - More
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Serengeti Announces Investor Relations Contracts - More
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Dorato Receives Final Analysis of Drillhole TAR-013 Intercepts 38.93 m Grading 7.05 g/t Gold (0.2 oz/t) Including 7.37 m Grading 33.48 g/t Gold (0.97 oz/t) - More
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IBC Wins US Defense National Stockpile Center Ordering Approval - More
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Liberty Silver Announces Property Earn-In Agreement - More
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Advanced Primary Minerals Announces AGM and Updates Operating Plan - More
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AmeriLithium Provides Corporate Update on Diversified Lithium Projects - More
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Tara Minerals Subsidiary Adit Resources Completes Picacho Acquisition - More
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GoldQuest Closes First Tranche of Financing - More
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Prospero Silver Corp.: New Skarn Zone Includes 11 Meters of 143 g/t Ag and 1.63% Cu at San Luis Del Cordero, Durango Project - More
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ATW Signs LOI for Sale Of Burnakura Assets - More
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Chariot Resources Limited Announcement - More
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JNR Announces Results of Airborne Survey on the Lazy Edward Bay Project - More
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MDN Posts 2009 Financial Results - More
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Mawson Resources Limited - Corporate Update: Alto Quemado gold-copper project in Peru - More
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Acadian Mining announces annual filings and loan from Golden River - More
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Yukon-Nevada Gold Corp. reports year-end results for 2009 - More
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Lihir Gold rejects $8.4 billion Newcrest bid - "Papuan-Australian miner Lihir Gold Ltd. said Thursday it had rejected a 9.2 billion Australian dollar ($8.4 billion) cash-and-stock takeover bid from Newcrest Mining Ltd. that would have created a gold-mining goliath." More
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GWR Resources Commences 2010 Phase 1 Program at Lac La Hache Porphyry Gold-Copper Property, British Columbia: Drill Mobilizes to Commence Testing - More
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Newcastle Options Gold Prospect Near Trelawney's Chester Discovery - More
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Iberian Minerals-Change in Management - More
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Peregrine Metals Introduces the Altar Porphyry Copper-Gold Deposit, Argentina - More
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Golden Share Acquires Property Near Eagle Hill's Find of 14.2 G/T Au Over 52 M, Quebec, Canada - More
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NGEx Drilling Extends Josemaria Mineralization - More
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Katanga Mining Announces Filing of Annual Information Form and Technical Report - More
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Energy Fuels Announces Appointment of Stephen P. Antony as President and CEO - More
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Silver Dragon Board of Directors Recommends Shareholders Reject Exchange Offer - More
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Crowflight Announces Fourth Quarter and Year End 2009 Financial Results - More
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Bard Ventures Ltd.: New Area of Molybdenum Mineralization Intersected on the Lone Pine Project - More
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Alexis Minerals Announces 2009 Year End and Fourth Quarter Results - More
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Northland Resources S.A.: Swedish Government to Co-finance Rail to Northland Project Area - More
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Li3 Energy, Inc. Commences Exploration Program on Its Puna Plateau Lithium Properties in Argentina - More
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Cameco Reports Document Filings - More
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Yamana Gold reaffirms annual 2010 guidance - "Yamana has previously noted that production would sequentially increase, and cash costs would sequentially decrease, quarter-over-quarter throughout the year. In the first quarter of 2010, gold equivalent production is expected to be approximately 240,000 GEO and cash costs are expected to be below $200 per GEO on a by-product basis. This is consistent with internal forecasts. Minera Florida produced less than anticipated due to the earthquake which occurred on February 27 and is now fully operational." More
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Kimber commences exploration drilling at Pericones - "Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to report that diamond drilling has commenced on its Plaza De Gallos target on Kimber's 100% owned Pericones property. The Pericones property is comprised of two contiguous concessions totaling 11,890 hectares located approximately 160 kilometres southwest of Mexico City, in a region with an extensive history of silver production." More
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Taseko Completes Gibraltar Mine Joint Venture With Japanese Consortium - "Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") wishes to announce that the previously disclosed transaction to sell 25% of the Gibraltar Copper Mine to a Japanese Consortium (Sojitz Corporation - 50%, Dowa Metals & Mining Co., Ltd. - 25%, Furukawa Co., Ltd. - 25%) for approximately C$187 million closed on March 31, 2010. Taseko will continue to be the operator of Gibraltar. A portion of these proceeds has been used to prepay Taseko's US$50 million long-term Credit Facility provided by Credit Suisse and Investec." More
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Allied Nevada Reports Gold Equivalent Measured & Indicated Resources of 10.3 Million Ounces and Further Inferred Resources of 7.7 Million Ounces - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV - News)(AMEX:ANV - News) is pleased to report updated mineral reserves and resources with a more than doubling of oxide gold reserves to 2.4 million ounces and initial oxide silver reserves of 32.3 million ounces (177.2 million tons grading 0.014 ounces per ton gold ("opt") and 0.182 opt silver) for the Company's wholly owned Hycroft mine ("Hycroft") located near Winnemucca, Nevada. This is the first time a silver reserve has been established for the Hycroft mine. Gold and silver measured and indicated resources (inclusive of reserves) for oxide and sulfide mineralization increased 20% to 7.1 million ounces of gold ("Au") and 57% to 184.2 million ounces of silver ("Ag"). Measured and indicated gold equivalent ounces(1) increased 28% to 10.3 million ounces compared with 8.1 million gold equivalent ounces reported in March 2009 (see press release dated March 31, 2009 for more information regarding the previous resource estimate). A portion of the gold measured and indicated resource does not currently have sufficient data to report silver measured and indicated resources." More
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Crystallex Reports 2009 Financial Results - "Losses from continuing operations were $311.9 million ($(1.06) per share) and $21.8 million ($(0.07) per share) for 2009 and 2008, respectively." More
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Apollo Gold and Linear Gold Enter into Definitive Arrangement Agreement - "Apollo Gold Corporation (TSX: APG - News) (NYSE Amex: AGT) (“Apollo”) and Linear Gold Corp. (TSX: LRR - News) (“Linear”) are pleased to announce today that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) in respect of the previously announced business combination (the “Merger”) pursuant to which the businesses of Apollo and Linear will be combined by way of a court approved plan of arrangement. The Arrangement Agreement supercedes the letter of intent executed by Apollo and Linear on March 9, 2010 in respect of the Merger." More
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