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Gold Seeker Closing Report: Gold Gains and Silver Surges 2% to a New 31-Year High

By: Chris Mullen, Gold-Seeker.com


-- Posted 4 April, 2011 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1432.00

+$4.20

Silver

$38.45

+$0.76

XAU

215.89

+0.45%

HUI

568.18

-0.32%

GDM

1658.79

-0.00%

JSE Gold

2766.70

-4.20

USD

75.91

+0.02

Euro

142.19

-0.17

Yen

119.01

+0.13

Oil

$108.47

+$0.53

10-Year

3.431%

-0.020

T-Bond

120.375

UNCH

Dow

12400.03

+0.19%

Nasdaq

2789.19

-0.01%

S&P

1332.87

+0.03%

 
Foreign Gold Prices
CAD
1,386.91
EUR
1,008.35
GPB
889.15
JPY
120,484.19
CHF
1,324.06
USD
1,433.96
 
 

 

The Metals:

 

Gold climbed as much as $10.89 to $1438.69 by a little after 8AM EST before it fell back off in New York, but it still ended with a gain of 0.29% and closed just $5.80 from a new all-time closing high.  Silver surged to a new 31-year high of $38.593 before it also fell back off a bit, but it still ended with a gain of 2.02%.

 

Euro gold rose to over €1007, platinum gained $10 to $1779, and copper remained at about $4.25.

 

Gold and silver equities rose over 1% in the first hour of trade, but they then fell back off into the close and ended near unchanged.

 

The Economy:

 

There were no major economic reports today, but Bernanke will be speaking tonight at a conference in Atlanta.  Tomorrow at 10AM EST brings the ISM Services report for March expected at 59.5 and at 2PM is the release of fed minutes from their March 15th meeting.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil rose to its highest since September 2008 on worries over Libya.

 

The U.S. dollar index waffled near unchanged and ended slightly higher as traders await this week’s probable interest rate hike by the European Central Bank on Thursday.

 

Treasuries ended unchanged as the Dow, Nasdaq, and S&P traded mixed on worries over high oil prices.

 

Among the big names making news in the market today were Vodafone, McDonald’s, Glaxo, and Pfizer.

 

GATA Posts:

Urge Bloomberg News to challenge Fed next on gold market rigging

Paul to examine mint's failure to coin enough gold and silver

 

The Statistics:

Activity from: 4/01/2011

Gold Warehouse Stocks:

11,032,760

-100

Silver Warehouse Stocks:

105,311,670

-67,453

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)

SPDR® Gold Shares

1211.229

38,942,222

US$55,879m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

115.22

3,704,563

US$5,308m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

124.11

3,990,372

US$5,717m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,489

US$655m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.27

1,551,951

US$2,233m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,958

US$7m

 Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 125.27 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,139.52 - No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend, New Gold’s (NGD) agreement to acquire Richfield Ventures (RVC.V), Midway’s (MDW) Prefeasibility Study, Mines Management’s (MGN) over-allotment option, and Arian’s (AGQ.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  First Majestic

AG +8.94% $23.51

2.  Claude

CGR +8.64% $2.64

3.  Alexco

AXU +8.32% $9.50

 

LOSERS

1.  Vista Gold

VGZ -5.14% $3.69

2.  Capital Gold

CGC -4.12% $6.05

3.  New Gold

NGD -3.69% $11.22

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

       

All of today's gold and silver stock news:

Quia Resources Announces Management Changes - More
- April 04, 2011 | Item | ShareThis


Huldra Silver Inc. Announces It Has Entered Into a Non-Binding Term Sheet for $10,000,000 Debt Facility - More
- April 04, 2011 | Item | ShareThis


Columbia Yukon Announces Non Brokered Private Placement - More
- April 04, 2011 | Item | ShareThis


Mountain Boy Minerals Ltd.: Silver Potential of American Creek Claims to Be Explored in 2011 - More
- April 04, 2011 | Item | ShareThis


Mines Management, Inc. Announces Exercise of Underwriter’s Over-Allotment Option - "Mines Management, Inc. (“Mines Management” or the “Company”) (NYSE Amex:MGN) (TSX:MGT.to - News) is pleased to announce that Roth Capital Partners, the sole manager for the Company’s underwritten offering of 4,800,000 shares of common stock that closed on March 8, 2011, has partially exercised its over-allotment option to purchase an additional 320,000 shares of common stock of the Company, at a price of US$3.15 per share. The gross proceeds resulting from the over-allotment option exercise, which closed earlier today, are US$1,008,000, or US$947,520 in net proceeds to the Company, after deducting underwriting commissions and a corporate finance fee but before deducting offering expenses. The total offering is therefore 5,120,000 shares of common stock for gross proceeds to the Company of US$16,128,000, or US$15,160,320 in net proceeds to the Company, after deducting underwriting commissions and a corporate finance fee but before deducting offering expenses." More
- April 04, 2011 | Item | ShareThis


New Gold steps up growth push with Richfield - "New Gold Inc (NGD.TO) said on Monday it struck a deal to acquire gold exploration company Richfield Ventures (RVC.V) in a C$550 million ($567 million) all-stock deal that lets it expand its asset base in Canada.

The deal gives New Gold, a mid-sized gold miner, control of Richfield's flagship Blackwater project in British Columbia -- the acquisition will add about 3.8 million ounces of gold resources to New Gold's portfolio." More
- April 04, 2011 | Item | ShareThis


Silver Quest Commences Drilling on Davidson Property, BC - More
- April 04, 2011 | Item | ShareThis


Kootenay Drills 237 gpt Silver eqv over 51m, Including 526.2 gpt Silver eqv over 18 m; Step Out Holes Return Multiple High Grade Silver Intercepts - More
- April 04, 2011 | Item | ShareThis


Golden Valley Mines Provides Update on Corporate Reorganization - More
- April 04, 2011 | Item | ShareThis


Golden Reign Resources Ltd.: Drilling Commences at San Albino - More
- April 04, 2011 | Item | ShareThis


Cameco Provides Date for Q1 Results and Conference Call - More
- April 04, 2011 | Item | ShareThis


Nevada Copper Receives All Permits for Underground Development - More
- April 04, 2011 | Item | ShareThis


Hunter Bay Minerals Announces Increase to Private Placement - More
- April 04, 2011 | Item | ShareThis


Diamond Fields International Ltd. - Significant Gold Values Confirmed from Atlantis II Resource - More
- April 04, 2011 | Item | ShareThis


Adroit Applies for Antimony Drilling Permits - More
- April 04, 2011 | Item | ShareThis


Queensland Minerals Announces New Meeting Date and Filings - More
- April 04, 2011 | Item | ShareThis


Prodigy Receives Positive PEA For Magino: NPV of $351M and IRR of 49% - More
- April 04, 2011 | Item | ShareThis


Cascadero Copper Appoints Investor Relations Group - More
- April 04, 2011 | Item | ShareThis


Goldcorp Declares Fourth Monthly Dividend Payment for 2011 - "GOLDCORP INC. (TSX:G.to - News), (NYSE:GG - News) is pleased to declare its fourth monthly dividend payment for 2011 of $0.034 per share. Shareholders of record at the close of business on Thursday, April 14, 2011 will be entitled to receive payment of this dividend on Tuesday, April 26, 2011. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends." More
- April 04, 2011 | Item | ShareThis


Athena Silver Corp. Announces Assay Results From Langtry Drilling Program - More
- April 04, 2011 | Item | ShareThis


Advanced Explorations Reaches New Terms On Roche Bay Buy-Out Option - More
- April 04, 2011 | Item | ShareThis


Treasury Metals Begins Initial Metallurgical Test Work at Goliath Gold Project - More
- April 04, 2011 | Item | ShareThis


Lincoln Mining Announces Investor Relations Agreement with Value Relations GmbH - More
- April 04, 2011 | Item | ShareThis


Trelawney Intersects 304.00 Metres of 1.65 g/t Gold in 200-Metre Step-Out Hole From the Cote Lake Deposit; Appoints New Director and Grants Stock Options - More
- April 04, 2011 | Item | ShareThis


Driven Capital Corp. Announces Completion of Qualifying Transaction and Private Placement - More
- April 04, 2011 | Item | ShareThis


Millrock Announces Rainville Copper Project, Arizona - More
- April 04, 2011 | Item | ShareThis


Ardent Mines Retains SRK Consulting to Conduct Audits and Prepare NI 43-101 Technical Reports for Two Properties Located in South America - More
- April 04, 2011 | Item | ShareThis


Denarii Resources Announces Joint Venture in Gold Properties in Guyana - More
- April 04, 2011 | Item | ShareThis


Wildcat Drill Results Include 37 Metres of 407 Grams Per Tonne Silver, 14.6% Manganese, 2.01% Zinc and 2.30% Lead - More
- April 04, 2011 | Item | ShareThis


Geologix Acquires 100% of Tepal Property by Accelerating Final Payment - More
- April 04, 2011 | Item | ShareThis


Hana's Shareholders Overwhelmingly Approve the Appointment of Three Highly Experienced Candidates to the Company's Board of Directors - More
- April 04, 2011 | Item | ShareThis


Galore Reports Additional Results From La Palma Drilling - More
- April 04, 2011 | Item | ShareThis


RT Minerals Updates Bazooka, Quebec and Meunier, Ontario Drilling - More
- April 04, 2011 | Item | ShareThis


Marifil Grants Extension for the K-2 Potash Property and Agrees to Similar Terms for the K-3 and K-4 Properties - More
- April 04, 2011 | Item | ShareThis


Queensgate Shareholders Approve Merger With Teslin River Resources Corp. (TSX VENTURE: TLR) - More
- April 04, 2011 | Item | ShareThis


Meadow Bay Changes Name to Meadow Bay Gold Corporation - More
- April 04, 2011 | Item | ShareThis


Benton Options Forester Lake Property to Parkside Resources and Provides Equity Financing - More
- April 04, 2011 | Item | ShareThis


Selwyn Successfully Completes Winter Mobilization of Mining Equipment - More
- April 04, 2011 | Item | ShareThis


Quaterra Expands Silver Mineralization at Nieves - More
- April 04, 2011 | Item | ShareThis


Prophecy Resource Corp. and Pacific Coast Nickel Corp. Sign Arrangement Agreement - More
- April 04, 2011 | Item | ShareThis


East Asia Minerals Encounters 3.1 g/t Gold Over 23 Metres Within 84 Metres Grading 1.09 g/t Gold, Remaining Open West Past Initial Miwah Resource Block - More
- April 04, 2011 | Item | ShareThis


Monthly Copper Production Record in March and First Quarter Production Results - More
- April 04, 2011 | Item | ShareThis


Sono Resources to Explore Copper / Silver Prospects in Northern Botswana, Africa - More
- April 04, 2011 | Item | ShareThis


Mercer Signs Letter of Intent for the Acquisition of 717 Sq. km. of Gold, Copper and Silver Prospects in Haiti, Including the Morne Bossa Gold Deposit Property - More
- April 04, 2011 | Item | ShareThis


Bralorne Receives Air & Effluent Permit to Begin Gold Production - More
- April 04, 2011 | Item | ShareThis


U.S. Antimony Obtains Mexican Mill Site Approvals - More
- April 04, 2011 | Item | ShareThis


Champion Minerals to Present at Upcoming Haywood Securities Iron Ore Conference - More
- April 04, 2011 | Item | ShareThis


Belo Sun Mining Expands Mineral Resources at the Volta Grande Gold Project in Para State, Brazil - More
- April 04, 2011 | Item | ShareThis


Rodinia Lithium Announces Commencement of Preliminary Economic Assessment for the Salar De Diablillos - More
- April 04, 2011 | Item | ShareThis


Josephine Mining Corp. Announces Change of Auditors - More
- April 04, 2011 | Item | ShareThis


Sama Resources Announces Extension of Investor Relations Consulting Agreement - More
- April 04, 2011 | Item | ShareThis


Yukon-Nevada Gold Corp. Announces 2010 Year End Financial Results Conference Call - More
- April 04, 2011 | Item | ShareThis


Molycorp Acquires Controlling Stake in AS Silmet, Expands Operations to Europe, Doubles Near-Term Rare Earth Oxide Production Capacity - More
- April 04, 2011 | Item | ShareThis


Lithium Exploration Group Acquires Option on 104,000 Acres in NW Argentina - More
- April 04, 2011 | Item | ShareThis


Golden Dawn Intersects 127m Grading 0.43 g/t Gold and Extends Bulk-Tonnage Target Deadwood Gold Zone, Greenwood Project, South Central B.C., Canada - More
- April 04, 2011 | Item | ShareThis


Platinum Group Project 1 Mine Advances Underground and Mining Right Application Filed - More
- April 04, 2011 | Item | ShareThis


Gold Hawk on Schedule for Mine Re-Opening at Oracle Ridge Copper Project - More
- April 04, 2011 | Item | ShareThis


Arian Silver's Continuing Exploration Drilling Intercepts High-Grade Silver at San Jose - "Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ - News; AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A - News), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report assay results from a further eleven holes recently drilled at its 100%-owned San Jose Property in Zacatecas State, Mexico." More
- April 04, 2011 | Item | ShareThis


New Gold Agrees to Acquire Richfield Ventures Corp. - Adds Gold Project in British Columbia - "New Gold Inc. ("New Gold") (TSX:NGD.to - News) (AMEX:NGD - News) and Richfield Ventures Corp. ("Richfield") (TSX.V:RVC) today jointly announce a definitive agreement whereby New Gold will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares of Richfield. Under the terms of the Arrangement, each Richfield shareholder will receive 0.9217 of a New Gold share for each Richfield share held. The offer values Richfield at $10.38 per share or approximately $550 million, representing a 31% premium to Richfield's April 1, 2011 closing price and a 46% premium based on each company's 20-day volume weighted average price. The transaction value, net of cash and proceeds from all in-the-money dilutive instruments, is approximately $513 million." More
- April 04, 2011 | Item | ShareThis


Midway Gold Announces Positive Prefeasibility Study for Pan Gold Project, Nevada - "Midway Gold Corp. (TSX.V and NYSE Amex: MDW) (the “Company”) announces the results of a positive Prefeasibility Study of its Pan gold project located in White Pine County, Nevada. The accompanying National Instrument (NI) 43-101 technical report will be filed on SEDAR within 45 days. This NI 43-101 report was independently prepared by Gustavson Associates, LLC (“Gustavson”) of Lakewood, Colorado, and concludes that the Pan Project is economically viable and amenable to heap leach mining operations, as summarized below." More
- April 04, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted 4 April, 2011 | |


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