Gold Seeker Closing Report: Gold Gains Nearly $10 While Silver Falls Slightly

	Close	Gain/Loss
Gold	$1170.80	+$9.25
Silver	$18.08	-$0.02
XAU	176.60	+2.74%
HUI	456.87	+2.97%
GDM	1372.63	+2.92%
JSE Gold	2349.46	+28.34
USD	82.30	-0.04
Euro	132.08	+0.48
Yen	106.25	-1.11
Oil	$83.22	+$0.78
10-Year	3.773%	+0.083
T-Bond	118.00	-0.90625
Dow	11045.27	+0.48%
Nasdaq	2471.73	+0.01%
S&P	1191.36	+0.65%

Gold traded mostly slightly higher in Asia and London and fell to its session low of $1160.48 to see a loss of $1.07 at around the open of trade in New York before it surged to as high as $1174.20 by midday and then fell back off a bit in afternoon trade, but it still ended with a gain of 0.8%. Silver fell as much as 30 cents to $17.80 in midmorning New York trade before it rose to see a 13 cent gain at $18.23 by around noon EST, but it then fell back off into the close and ended with a loss of 0.11%.

Euro gold rose to a new all-time high above €890, platinum lost $9.50 to $1704.50, and copper rose slightly to about $3.37.

Gold and silver equities rose throughout most of trade and ended with almost 3% gains.

The FOMC kept the fed funds rate in its record low range of 0.00% to 0.25% as expected. They still expect rates to remain there for an “extended period,” but Thomas Hoenig dissented again as he prefers some room to be able to raise rates sooner if warranted. Tomorrow at 8:30AM EST brings Initial Jobless Claims for 4/24 expected at 445,000.

Oil remained modestly higher after the Energy Information Administration reported that crude inventories rose 1.9 million barrels, gasoline inventories fell 1.2 million barrels, and distillates rose 2.9 million barrels.

The U.S. dollar index turned higher after S&P downgraded Spain’s debt and caused the euro to erase its early gains and fall to a new one-year low at one point, but dollar gains were then erased after the fed once again pledged to keep interest rates low.

Treasuries stayed lower after today’s $42 billion in 5-year note auction drew a high yield of 2.540% with a bid to cover of 2.75.

The Dow, Nasdaq, and S&P rose as worries over Spain’s downgrade were offset by decent earnings reports and the fed’s reiterated low interest rate stance.

Among the big names making news in the market today were Honda, Comcast, JetBlue, Shell, Dow Chemical, WellPoint, and Sprint.

Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.609 tonnes to a new record high holding

COMEX Gold Trust (IAU) Total Tonnes in Trust: 78.31 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 8,912.94 - No change from yesterday’s data.

A free, new stock report on NovaGold by Peter Zihlmann, Solitario’s (XPL) project agreement with Buenaventura (BVN), Midway’s (MDW) retention of Windward Global, Barrick’s (ABX) first quarter results, Revett’s (RVM.TO) hedging, and Hecla’s (HL) first quarter 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.

Minera IRL Limited Begins Trading on the Toronto Stock Exchange - More
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Highland Reports on Final 5 Holes of Winter Drill Program on the Rickaby Property and Reports on Results of the Airborne Survey on the Humboldt Bay Property - More
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Minera IRL Announces 2009 Year-End Results - More
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Win-Eldrich Mines Limited announces favorable restructuring of debt with Golden Phoenix Minerals, Inc., the appointments of Kenneth Ripley and Earl Harrison - More
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Z-Gold Exploration Acquires Coda Property - More
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New Global Provides Colombia Update - More
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Cadillac Retains Investor Relations Consultant and Appoints Secretary - More
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Solitaire Minerals Corp. and Ashburton Ventures Inc. Announce Results from Drilling at the Chukuni Property in Red Lake, Ontario - More
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Treasury Metals Announces Exercise of Warrants - More
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Barrick Gold Announces Dividend - "Barrick Gold Corporation (NYSE:ABX - News)(TSX:ABX - News) today announced that its Board of Directors has declared a dividend of US20 cents per share, payable on June 15, 2010 to shareholders of record at the close of business on May 31, 2010." More
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Pro Minerals Inc.: Disco Lake VMS Project-Phase 2 Exploration Program Complete - More
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Universal Uranium and Crosshair Exploration Settle Action - More
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Armistice Resources Identifies Additional Near-Surface Potential At The McGarry Mine Gold Project - More
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Solitario Exploration & Royalty Signs Major Agreement with Buenaventura on Its Pachuca Real Silver-Gold Project, Mexico - "Solitario Exploration & Royalty Corp. (“Solitario;” NYSE Amex: XPL; TSX: SLR) is pleased to announce that it has signed a definitive Venture Agreement with COMPAÑÍA DE MINAS BUENAVENTURA S.A.A (“Buenaventura;” NYSE: BVN; Lima: BUE.LM), on Solitario's Pachuca Real silver-gold project in central Mexico. Solitario's 100%-owned Pachuca Real project encompasses approximately 31,300 hectares of mineral rights in and around the famed Pachuca silver-gold mining district." More
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Galantas 2009 Results and First Quarter Trading Update - More
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Riverstone Intersects High Grade Gold at Rambo Main - More
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Global Uranium appoints David Greenway to the board of directors - More
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North American Palladium Completes $100 Million Financing - More
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Trevali Intersects Broad Zones of Polymetallic Mineralization in Magistral Central Drilling - More
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Philippine Metals Inc. Initiates Exploration Program - More
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Genco Recommences Operations at La Guitarra - More
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Daulton Capital Provides Update on Property Acquisitions in Mineral Rich Klondike and White Gold Districts - More
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Century's Lamaque Mill Facility Fully Operational & Provides Further Progress Update for Lamaque Gold Project - More
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Asia Now Unveils an Aggressive Exploration Plan - More
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AmeriLithium Acquires Second Lithium Asset in Productive Nevada Region - More
- April 28, 2010 | Item | ShareThis

Rye Patch Gold Corp. Presents Nevada Project Update and Commences Drilling Program at Wilco - More
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Fission Vertical Step Outs Intersect 18m of 1.32% U308 and 8.5m of 1.92% U308 at "J-Zone" Including Intercepts as High as 3.56% U308 - More
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Romarco encounters 60.7 meters of 11.9 g/t gold - "New best hole ever" - More
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Newcastle Begins Trading on the Frankfurt Stock Exchange's Open Market - More
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Merrex Gold Distribution of Frontline Shares as Reduction of Capital - More
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Galway expects no impact from new Colombian mining law on its Colombian projects - More
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Richfield Ventures Corp. and Paget Minerals Increase Claim Holdings in the Nechako Basin, BC - More
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Cadillac Receives Four Investigation Permits in Spain - More
- April 28, 2010 | Item | ShareThis

Mustang Exploration Update - More
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Midland Exploration Options its Gatineau Zinc Project to Zincore Metals - More
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MetalCORP Limited Confirms Continuity of Gold-Rich Horizon at Hemlo East - More
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Paget Minerals and Richfield Ventures Increase Claim Holdings in the Nechako Basin - More
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Midlands Minerals Announces Drilling Progress on Sian and Praso in Ghana - More
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Zincore Signs Agreement to Add Canadian Project - More
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American Paramount Gold Corp. Announces the Appointment of Mr. John Goodwin to the Board of Directors - More
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Metanor Pours 100th Gold Bar - More
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SNS Silver Drills High Grade Gold Intersection, Cuts 171 g/t (5 oz/ton) of Gold over 6 feet at the Emerald Lake Project in Northern Ontario - More
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Oro Gold Extends Taunus High-Grade Gold Zone to the South and Demonstrates Continuity at Trinidad Project, Mexico - More
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Grandview Gold Acquires 100% Undivided Interest in Sanshaw-Bonanza Property in Red Lake Gold District and Adds Claims to Property Contiguous to Goldcorp-Premier - More
- April 28, 2010 | Item | ShareThis

Rusoro Mining Reports its 2009 Financial Results - More
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Eagle Hill Enhances Gold Potential at Windfall Lake Property With Results From Its Initial Drilling Program - More
- April 28, 2010 | Item | ShareThis

Royal Mines and Minerals Corp. Update - More
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JNR Provides Update on 2009 Uranium Exploration Program at Rocky Brook - More
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Wallbridge Mining Announces Closing of Private Placements - More
- April 28, 2010 | Item | ShareThis

INV Metals Reports Drill and Soil Sampling Results at the Rio Novo Project, Brazil - More
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Rodinia Minerals Inc. Welcomes Farhad Abasov to the Board as Executive Chairman - More
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Big Bear Mining Provides Corporate Update - More
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PBX Drills High Grade Hypogene Copper Mineralization at Copaquire, Chile - More
- April 28, 2010 | Item | ShareThis

Habanero Initiates Work Program on Haldane Silver Project in the Yukon - More
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Nevado Venture Capital Listed on the Frankfurt Stock Exchange - More
- April 28, 2010 | Item | ShareThis

Mirabela Nickel Limited - Senior Management Appointments - More
- April 28, 2010 | Item | ShareThis

Revett Announces Hedging for 2011 Copper and Silver Production - "Revett Minerals Inc. ("Revett" or the "Company") (TSX:RVM - News; OTCBB:RVMIF - News) is pleased to announce that it has initiated hedging for approximately 20% of its forecasted 2011 copper and silver production at the Troy mine at a price of US$3.60 per pound of copper and US$18.40 per ounce of silver." More
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Midway Retains Windward Global - "Midway Gold Corp. ("Midway") is pleased to announce that Windward Global (“Windward”) of Charlotte, North Carolina has been engaged by Midway. Windward, founded by its principal, Kelly Boatright, will provide assistance with Midway’s Investor Relations and Public Relations efforts. Windward has served the natural resource sectors for more than two decades and maintains a strong presence in Canada, the United States and Europe." More
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Hecla Reports First Quarter Net Income of $18.4 Million and Negative Cash Costs of $3.03 Per Ounce of Silver - "Adjusted net income1 applicable to common shareholders, which excludes the impact of an income tax benefit, a negative provisional price adjustment, an increased reclamation accrual and a gain on the sale of marketable securities, was $17.2 million, or 7 cents per share, in the first quarter of 2010, compared to loss of $12.4 million in the first quarter of 2009." More
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Barrick Reports Q1 2010 Financial and Operating Results - "Reported Q1 net income was a record $758 million ($0.77 per share). Adjusted Q1 net income rose 149% to $741 million ($0.75 per share)(1) from $298 million ($0.34 per share) in Q1 2009, reflecting higher production and sales in conjunction with lower total cash costs and higher realized prices for both gold and copper. Operating cash flow more than tripled to a record $1.05 billion from $349 million in the same prior year period." More
- April 28, 2010 | Item | ShareThis

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