Gold Seeker Closing Report: Gold and Silver End Mixed and Near Unchanged

	Close	Gain/Loss
Gold	$1135.10	-$0.65
Silver	$17.71	+$0.06
XAU	168.47	-0.12%
HUI	427.74	-0.06%
GDM	1285.16	+0.03%
JSE Gold	2271.11	+14.19
USD	80.93	+0.17
Euro	134.87	-0.15
Yen	108.24	-0.25
Oil	$81.45	-$1.79
10-Year	3.807%	+0.037
T-Bond	116.50	-0.375
Dow	11092.05	+0.67%
Nasdaq	2480.11	-0.05%
S&P	1197.52	+0.45%

Gold fell as much as $12.08 to $1123.67 by late trade in Asia before it rose in London to see a $1.49 gain at $1137.24 by about 10:30AM EST and next fell back off in late morning New York trade, but it then bounced back higher in the last hour of trade and ended with a loss of just 0.06%. Silver dropped 20 cents to $17.45 in London before it rose to see a $0.105 gain at $17.755 in early New York trade and then fell back off midday, but it also rallied back higher in afternoon trade and ended with a gain of 0.34%.

Euro gold remained at about €842, platinum gained $4 to $1688.50, and copper fell a couple of cents to about $3.49.

Gold and silver equities fell about 2% by midday, but they then rallied back higher in afternoon trade and ended near unchanged.

Report	For	Reading	Expected	Previous
Leading Indicators	Mar	1.4%	1.1%	0.4%

Oil fell as the U.S. dollar index found slight gains on continued risk aversion in further reaction to the news of fraud charges against Goldman Sachs.

Treasuries ended lower as the Dow, Nasdaq, and S&P remained resilient and closed mixed in the face of mostly bad news.

Among the big names making news in the market today were Eli Lilly, Citigroup, Goldman Sachs, Hasbro, and Toyota.

“Well, yesterday's Commitment of Trader report was no surprise in silver... as the bullion banks increased their net short position by another 3,703 contracts. The '4 or less' bullion banks are short 260.9 million ounces of silver... and the '8 or less' traders are short 328.9 million ounces. This is a staggering amount considering that the net short position in the Commercial category... where all these bullion banks reside... currently sits at 276.9 million ounces. So the '4 or less' traders hold 94.2% of the net short position in silver all by themselves. The '8 or less' hold 118.7% of the net short position. The full-colour COT graph for silver is linked here.

In gold, the bullion banks increased their net short position by 18,578 contracts... which wasn't as bad a number as Ted Butler was expecting. The Commercial net short position currently sits at 263,484 contracts... which is 26.3 million ounces of gold. The '4 or less' traders are short 18.8 million ounces of that... and the '8 or less' traders are short 24.0 million ounces. The full-colour COT gold graph is linked here.”– From Ed Steer’s Gold & Silver Daily, read the full report here.

“Gold $1,130 – Since just above $300, gold has climbed a wall of worry and denial. You wouldn’t need more than your hands and maybe a few toes to count the number of “experts” who have stayed the bullish course along the way. The road is littered with former gold bulls and perma-bears, all of whom predicted gold’s demise (many more than once).

Once again we find ourselves at one of those speed bumps…only this time the supposed land mine is one of those claims that just makes you laugh at the extent some go to in futile hopes of stopping the mother of all secular gold bull markets. The latest charade is the fear Paulson will have to sell his gold holdings because of the Goldman charges. While I would expect such nonsense from the “Senior Analyst” (he ran out of legitimate excuses hundreds of dollars lower ago), I find it amusing (but not surprising) that this lame excuse has caused some real grief.

Hello? Do you honestly think the rise in gold has been thanks even in part to Paulson? Sure, he has purchased some credible positions in it, but I highly doubt without him having done so we wouldn’t be at this point anyway. Oh, and by the way, even if his fund was somehow force to sell (the chances of which I believe are slim and none), it’s my understanding that there’s a three-year freeze on redemptions.

If I told you once I told you a thousand times, the financial world and the media that covers it hate gold. It will never be widely accepted because ownership of it flies in the face of what makes their world go around – stocks and bonds. This secular gold bull market takes no prisoners and this time will be no exception. I believe the latest naysayers (not the permanent ones like you know who) will end up joining an ever-increasing list of bears who end up mauled by the big and bad gold bull.”- Peter Grandich, Grandich Letter

1. FASB capitulates and allows holders of OTC derivatives to value them at whatever they wish.

2. International investment firms begin strong mark up policies towards their crap inventory.

3. Profits from the mark up of crap OTC derivatives by the international investment firms is recognized as trading income.

4. Tarp money comes into the firms and goes out as bonuses to the management, trading department and general employees at obscene levels.

6. Therefore the money bonuses out by the international investment firms were TARP funds, not real earnings, but false FASB permitted mark up paper earnings through the trading department and declared as trading income.

7. The TARP money was paid back through the issue of stocks and bonds to the public, therefore the public paid the TARP back, not the financial institutions.

8. The obscene level of bonuses is because this game of convert false paper profit into cash into the bank account of the banksters and their merry crew is now game over. It was the last dip at the well of public funds laundered via TARP of the caved in FASB.

9. In the final analysis the public paid those obscene bonuses that were in truth, unearned.”- Jim Sinclair, JSMineset.com

COMEX Gold Trust (IAU) Total Tonnes in Trust: 76.48: -0.46 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 8,912.94: -45.74 change from yesterday’s data.

Newmont’s (NEM) bid talks with Lihir (LIHR), Gold Fields’ (GFI) investments in mining engineering faculties, Seabridge’s (SA) drill program, and MAG Silver’s (MVG) assay results were among the big stories in the gold and silver mining industry making headlines today.

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

Goldeye Extends Gold Zone to Depth on the West Iron Formation on the Big Dome, Tyrrell Project, Ontario - More
- April 19, 2010 | Item | ShareThis

Caldera Financing Oversubscribed. First Tranche Completed - More
- April 19, 2010 | Item | ShareThis

Inspiration Mining Corporation: TSX Requests that Record Date for Proposed Spin-Out be Amended - More
- April 19, 2010 | Item | ShareThis

Gold miners to invest $4.5 bln in Colombia - "Gold mining companies will invest as much as $4.5 billion over the next ten years in Colombia, attracted by rich unexplored areas and soaring prices, the head of the country's Asomineros miners group told Reuters." More
- April 19, 2010 | Item | ShareThis

Azimut: Conversion by SIDEX of its debenture - More
- April 19, 2010 | Item | ShareThis

Shareholders of Vault Minerals Approve Amalgamation with Queenston Mining; Shares to be Halted - More
- April 19, 2010 | Item | ShareThis

Apella Resources Inc.: Management's Recommendations Approved by Shareholders at AGM - More
- April 19, 2010 | Item | ShareThis

Helio Reports Latest Diamond Drill Results from the Porcupine Target, SMP Gold Project (up to 52m grading 3.7g/t Au) - More
- April 19, 2010 | Item | ShareThis

Wallbridge Mining Extends Record Date for Special Warrant Dividend and Spin-out of BC Properties into New Company, Miocene Metals Limited - More
- April 19, 2010 | Item | ShareThis

Darnley Bay Resources Releases Preliminary Airborne Survey Results - More
- April 19, 2010 | Item | ShareThis

Avaranta Grants Stock Options - More
- April 19, 2010 | Item | ShareThis

Golden Valley Mines Signs Two New Option/Joint Ventures with West Kirkland Mining Ltd. - More
- April 19, 2010 | Item | ShareThis

Malbex Drilling Intersects Gold-Silver Mineralization at Two New Targets at Del Carmen Norte - More
- April 19, 2010 | Item | ShareThis

Terra Ventures Inc.: Summer Exploration Gearing Up at Russell Lake - More
- April 19, 2010 | Item | ShareThis

Molycorp Files Registration Statement for Proposed Initial Public Offering - More
- April 19, 2010 | Item | ShareThis

Sierra Minerals Sets Quarterly Production and Revenue Records - More
- April 19, 2010 | Item | ShareThis

Hawthorne Gold Announces Closing of Special Warrant Offering - More
- April 19, 2010 | Item | ShareThis

New Drilling Results of 1.21% High Grade Cobalt Over 12.30 m, Incl. 12.48% Cobalt Over 0.90 m, Affirm Puget Ventures' Flagship Werner West Property's Status - More
- April 19, 2010 | Item | ShareThis

Pediment Engages AMEC to Complete Scoping Study at San Antonio Gold Project - More
- April 19, 2010 | Item | ShareThis

Golden Band Resources: Resource Estimate for Corner Lake Gold Deposit - More
- April 19, 2010 | Item | ShareThis

Premium Exploration Announces Brokered Private Placement and Start of 10,000 Meter Drill Program at Friday-Petsite Project - More
- April 19, 2010 | Item | ShareThis

Sparton's Secondary Uranium Recovery Programs Highlighted on BBC Radio - More
- April 19, 2010 | Item | ShareThis

New Jersey Mining Company Starts Mill and Prepares to Mobilize to Silver Strand Mine - More
- April 19, 2010 | Item | ShareThis

Abitex Resources announces Lavoie deposit NI 43-101 report available on SEDAR - More
- April 19, 2010 | Item | ShareThis

White Canyon Continues to Expand Uranium Portfolio With Acquisition of Additional Tenements at Red Canyon, USA - More
- April 19, 2010 | Item | ShareThis

Mukuba Signs Contract to Commence Drilling Program on Zambian Copper Projects - More
- April 19, 2010 | Item | ShareThis

Canadian Mining's Bullard Pass Analytical Results from Drilling Confirm Enzyme Leach Soil Geochemical Anomalies - More
- April 19, 2010 | Item | ShareThis

European Goldfields Limited - Annual and Special Meeting of shareholders - More
- April 19, 2010 | Item | ShareThis

ESO Preliminary Work Shows Higher Boron Values From Samples on Original Claims on Nevada Lithium Playa Property - More
- April 19, 2010 | Item | ShareThis

Alain Zubrzycki and Luc Lamarche joins Rock Tech's Technical Advisory Board - More
- April 19, 2010 | Item | ShareThis

MAX intersects mineralized zone of silicified breccia during drilling at Table Top gold project in Nevada - More
- April 19, 2010 | Item | ShareThis

Inmet Mining Announces End of Ok Tedi Strike Action - More
- April 19, 2010 | Item | ShareThis

Volta Reports More Positive Results in Next Section of Drilling at its Kiaka Gold Project Including 72m (at) 1.12g/t Gold and 60.2m (at) 1.17g/t Gold - More
- April 19, 2010 | Item | ShareThis

Amex Closes Over $1.5 Million Financing - More
- April 19, 2010 | Item | ShareThis

Tyhee Development Corp provides Pre-feasibility Guidance and Exploration Update on the Clan Lake Zone, Yellowknife Gold Project, NWT, Canada - More
- April 19, 2010 | Item | ShareThis

General Moly Announces ArcelorMittal to Waive Anti-Dilution Rights for Hanlong Transaction - More
- April 19, 2010 | Item | ShareThis

Blackstone Completes First Phase Drilling at Uma Cu-Zn-Au Project in Northern Sweden - More
- April 19, 2010 | Item | ShareThis

Hathor Exploration Limited: Summer Exploration Gearing Up at Russell Lake - More
- April 19, 2010 | Item | ShareThis

Annual and Special Meeting of Shareholders - More
- April 19, 2010 | Item | ShareThis

Esperanza Drills 93 Meters of 1.8 Grams Per Tonne Gold at Cerro Jumil - More
- April 19, 2010 | Item | ShareThis

Continental Gold Limited to Begin Trading on the Toronto Stock Exchange Under the Symbol "CNL" on April 19, 2010 - More
- April 19, 2010 | Item | ShareThis

Big Bear Mining Corp. Signs Agreement to Acquire 100% Interest in Stevens Lake Claims - More
- April 19, 2010 | Item | ShareThis

Searchlight Minerals to Transition From Development Focus to Operational Status at Clarkdale Slag Project - More
- April 19, 2010 | Item | ShareThis

CanAlaska Uranium drills breccias at new target at Collins Bay Extension - More
- April 19, 2010 | Item | ShareThis

Nautilus Announces Resignation of John O'Reilly, Non-Executive Director - More
- April 19, 2010 | Item | ShareThis

Greystar Resources Ltd.: Notice of Meeting - More
- April 19, 2010 | Item | ShareThis

Gold Fields Sponsors Mining Engineering Faculties - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that it is investing R26m in an effort to address skills shortages in the South African mining industry. The three-year sponsorship deal comprises investments in the mining engineering faculties at the University of Witwatersrand and the University of Johannesburg. The official handover ceremony held at Wits University earlier today was attended by the Department of Minerals and Resources Minister Susan Shabangu." More
- April 19, 2010 | Item | ShareThis

MAG Silver Drills Thickest Molybdenum-Gold Intercept to Date at Cinco de Mayo - "MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG") announces additional gold and molybdenum ("moly") assay results from on-going drilling (32 diamond drill holes) of the Pozo Seco moly-gold discovery on its 100% owned Cinco de Mayo (or "Cinco") property in northern Chihuahua State, Mexico. Results reported here include the thickest intercept to date of significant molybdenum mineralization." More
- April 19, 2010 | Item | ShareThis

Seabridge Gold Announces 2010 Program for KSM - "Seabridge Gold Inc. (TSX:SEA - News)(AMEX:SA - News) announced today that it plans to spend approximately $17.5 million this year to advance its 100% owned KSM project. The main initiatives are: (i) drilling for a potential increase in reserves; (ii) exploring for additional resources at the new Iron Cap zone; (iii) continuing optimization work on the project's Preliminary Feasibility Study ("PFS") and (iv) preparing an Environmental Assessment Application ("EAA") and engaging Aboriginal Peoples on project development." More
- April 19, 2010 | Item | ShareThis

Newmont in bid talks with Lihir advisers - "Newmont Mining Corp (NEM.N), the world's second-largest gold producer, is holding preliminary talks with advisers to takeover target Australia's Lihir Gold (LGL.AX), The Australian Financial Review said on Monday." More
- April 19, 2010 | Item | ShareThis

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