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Gold Seeker Closing Report: Gold and Silver Rise To New Highs

By: Chris Mullen, Gold-Seeker.com


-- Posted 5 April, 2011 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1450.80

+$18.80

Silver

$39.10

+$0.65

XAU

225.28

+4.35%

HUI

596.85

+5.04%

GDM

1740.38

+4.92%

JSE Gold

2787.64

+20.94

USD

75.89

-0.02

Euro

142.23

+0.02

Yen

117.86

-1.14

Oil

$108.34

-$0.13

10-Year

3.487%

+0.056

T-Bond

119.84375

-0.53125

Dow

12393.90

-0.05%

Nasdaq

2791.19

+0.07%

S&P

1332.63

-0.02%

 
 
Foreign Gold Prices
CAD
1,403.91
EUR
1,024.26
GPB
894.55
JPY
123,619.90
CHF
1,347.95
USD
1,456.87
 

 

The Metals:

 

Gold saw decent gains in Asia before it dipped to under $1430 in London, but it then shot up to a new all-time high of $1453.89 in New York and ended with a gain of 1.31%.  Silver dropped forty cents to $38.05 in London, but it then surged to a new 31-year high of $39.198 in New York and ended with a gain of 1.69%.  Both metals are rising to new highs in after hours access trade as well.

 

Euro gold rose to over €1020, platinum gained $7 to $1786, and copper gained a penny to about $4.26.

 

Gold and silver equities rose throughout most of trade and ended with about 5% gains.  The HUI made a new all-time closing high while the XAU and GDM closed around 2% from their previous highs of December 6, 2010.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Services

Mar

57.3

59.5

59.7

 

Bernanke Says Fed Must Monitor Inflation ‘Extremely Closely’  Bloomberg

Swaps Industry Failing to Meet Clearinghouse Promises, Fed's Dudley Says  Bloomberg

House Republicans Unveil Budget With $6 Trillion Cuts  Bloomberg

Late Easter, gas prices hit U.S. store sales  Reuters

 

“Federal Reserve officials raised concerns last month that a big jump in energy prices could weaken the economy and unleash inflation, prompting some to suggest the possibility of tightening credit this year.

 

Such a move usually involves boosting interest rates, although the minutes from the Fed's closed-door meeting on March 15 did not specify that. The minutes, which were released Tuesday, also did not note which members raised the prospect of a change in policy, or how many.”

 

Tomorrow at 7AM EST brings the MBA Mortgage Index for 4/01.

 

The Markets:

 

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

 

Oil ended slightly lower while the U.S. dollar index waffled near unchanged as traders looked for news from the Middle East and the European Central Bank.

 

Treasuries fell, pushing yields up, after the Federal Reserve released minutes of its March 15 meeting, where policy makers said the recovery is gaining strength while reaffirming plans to buy $600 billion of Treasuries through June.”

 

The Dow, Nasdaq, and S&P waffled near unchanged in lackluster trade.

 

Among the big names making news in the market today were Southwest, Blockbuster, Apple, Texas Instruments, and Google.

 

GATA Posts:

Join GATA's Murphy at Vancouver reception for Japan relief April 21

Ron Paul: The Fed's largesse undermines foreign policy

Feds move to keep Liberty Dollar's $7 million metal inventory

 

The Statistics:

Activity from: 4/04/2011

Gold Warehouse Stocks:

11,032,568

-

Silver Warehouse Stocks:

105,149,848

-161,822

 

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$55,800m

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$5,371m

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$5,785m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,483

US$665m

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: 125.24: -0.03 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,162.45: +22.93 change from yesterday’s data.

 

The Miners:

 

Seabridge’s (SA) CFO change, Kirkland’s (KGI.TO) annual gold reserve and resource estimates, Great Panther’s (GPL) distinction as a "Socially Responsible Company,” United Mining’s (UMG.TO) bulk sampling results, ECU Silver’s (ECU.TO) drilling update, and Silvermex’s (SLX.TO) 2010 results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Almaden

AAU +20.14% $4.85

2.  Midway

MDW+14.59% $2.12

3.  Mines MGMT

MGN +13.21% $3.17

 

LOSERS

1.  Great Panther

GPL -1.67% $4.12

2.  DRDGOLD

DROOY-1.48% $5.32

3.  Fronteer

FRG -0.07% $15.17

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:

Apella Resources Inc.: Drilling Commences; Iron-T Vanadium-Iron-Titanium Project - More
- April 05, 2011 | Item | ShareThis


Taseko Mines Limited Announces Senior Notes Offering - "Taseko Mines Limited (TSX:TKO.to - News) (NYSE Amex: TGB) ("Taseko") commenced a public offering of up to US$200,000,000 aggregate principal amount of its senior notes due 2019 (the "Notes"). Taseko intends to use the net proceeds from the offering of the Notes to fund Gibraltar Development Plan 3, with any remainder to be used for general corporate purposes. The actual terms of the Notes will not be determined until completion of the offering and will be announced at that time. The Notes will not be convertible and there will be no equity component of the offering." More
- April 05, 2011 | Item | ShareThis


Richfield Accelerates Warrant Expiry - More
- April 05, 2011 | Item | ShareThis


Petaquilla Minerals Ltd.: President and Vice-President of Panama Visit Molejon Gold Project - More
- April 05, 2011 | Item | ShareThis


Zoro Mining Executes Earn-In Agreement for Escondida Project, Region III, Chile - More
- April 05, 2011 | Item | ShareThis


Mineral Park Achieves Target Rate under Silver Wheaton Agreement - More
- April 05, 2011 | Item | ShareThis


Alderon Confirms Substantial Iron Ore Resource at Kami - More
- April 05, 2011 | Item | ShareThis


Northaven Resources Corp.: Option to Purchase Allco Polymetallic Property - More
- April 05, 2011 | Item | ShareThis


Strathmore Receives Positive Scoping Study for ISR Mining at Its Church Rock Uranium Deposit, New Mexico - More
- April 05, 2011 | Item | ShareThis


StoneShield Outlines Exploration Plans for Blackwater Gold Discovery District, BC - More
- April 05, 2011 | Item | ShareThis


Great Panther Silver Receives Recognition for Corporate Social Responsibility - "GREAT PANTHER SILVER LIMITED (TSX:GPR - News)(AMEX:GPL - News) (the "Company") is pleased to announce that its Mexican subsidiary, Minera Mexicana El Rosario S.A. de C.V., has received its first distinction as a "Socially Responsible Company" from CEMEFI, Centro Mexicano para la Filantropia (Mexican Centre for Philanthropy). This annual distinction is a milestone for Great Panther and was awarded at a ceremony in Mexico City on March 29, 2011 for the Company's commitment to sustainable environmental, social and economic development." More
- April 05, 2011 | Item | ShareThis


Golden Valley Mines Ltd.: 2010-2011 Abitibi Greenstone Belt ("AGB") Grassroots Exploration Highlights & New Drill Results - More
- April 05, 2011 | Item | ShareThis


Sono Resources Announces Management and Board Appointments - More
- April 05, 2011 | Item | ShareThis


Crowflight Completes Note Conversion - More
- April 05, 2011 | Item | ShareThis


True North Gems Advances Aappaluttoq Permitting With Terms of Reference for Socioeconomic Impact Assessment - More
- April 05, 2011 | Item | ShareThis


Forum Uranium Commences Exploration at Maurice Bay, NW Athabasca - More
- April 05, 2011 | Item | ShareThis


Crystallex Issues Update on Amex Halt - More
- April 05, 2011 | Item | ShareThis


Bullion Monarch Mining Acquires Bauxite Property in Brazil - More
- April 05, 2011 | Item | ShareThis


Sage Accelerates Clavos Drill Program to 12,500 Metres With Second Drill - More
- April 05, 2011 | Item | ShareThis


Lions Gate Metals Inc. Third Hole at Poplar Assays 220m of 0.44% Copper - More
- April 05, 2011 | Item | ShareThis


Amseco Exploration Ltd.: First Three Diamond Drill Holes in Barry-Urban Intersect Zone 18 - More
- April 05, 2011 | Item | ShareThis


Dalradian Commences Regional Exploration Program on the Tyrone Project in Northern Ireland - More
- April 05, 2011 | Item | ShareThis


Ivernia Announces a Halt to Operations at the Magellan Mine - More
- April 05, 2011 | Item | ShareThis


Approved Name Change-Hawthorne Gold Corp. to Become China Minerals Mining Corporation - More
- April 05, 2011 | Item | ShareThis


Tahoe Announces Recommendations From ISS Group in Support of Matters to Be Considered at Annual Meeting and Announces Amended Rights Plan - More
- April 05, 2011 | Item | ShareThis


Silver Predator Commences Taylor Project Drill Program - More
- April 05, 2011 | Item | ShareThis


Halo Earns $1.2 Million for NSR Interest - More
- April 05, 2011 | Item | ShareThis


Ucore Recovers Over 4000 Metres of Historical Drill Core - More
- April 05, 2011 | Item | ShareThis


Hathor Receives Mineral Lease for Roughrider - More
- April 05, 2011 | Item | ShareThis


Alto Group Holdings Announces CEO Departs for Mexico to Conclude Equipment Purchase - More
- April 05, 2011 | Item | ShareThis


White Tiger Gold Announces Launch of New Website - More
- April 05, 2011 | Item | ShareThis


White Tiger Mining Corp.: RMZ11-21 Drill Hole Intersects Two Significant Chalcopyrite Zones Within the RM Zone, Marshall Lake Project, Near Thunder Bay, Ontario - More
- April 05, 2011 | Item | ShareThis


Savant Intersects 6.16 gpt Gold Over 6.5 Metres in a Previously Unknown Vein System on the McWatters Property - More
- April 05, 2011 | Item | ShareThis


Auriga Gold Increases Property Position and Targets Extensive Gold Mineralization Potential at Maverick Gold Project, Manitoba - More
- April 05, 2011 | Item | ShareThis


Drilling Commences on Kemptville Gold Project - More
- April 05, 2011 | Item | ShareThis


Rockland Plans Field Mapping, Heli-Borne Mag Survey for Schefferville Gold Project - More
- April 05, 2011 | Item | ShareThis


Trench Results from the New Valdette Zone at Coringa, Brazil Includes 8.5m @ 5.5g/t Gold - More
- April 05, 2011 | Item | ShareThis


African Gold Group, Inc., Engages Torrey Hills Capital for Investor Relations - More
- April 05, 2011 | Item | ShareThis


Integra Gold Corp. Intersects 14.7 g/t Gold Over 3.5 Meters at the No. 5 Plug on the Lamaque Project - More
- April 05, 2011 | Item | ShareThis


Redhill Resources Corp.: Geochemical Sampling Program Completed at Gascoyne Project - More
- April 05, 2011 | Item | ShareThis


Invenio Exercises Option to Acquire 75% of Kings Canyon and Green Springs Projects - More
- April 05, 2011 | Item | ShareThis


Belmont Confirms and Identifies New Polymetallic (Gold & Base Metal) VMS Style Deposits on the Lumby-Bufo Property - More
- April 05, 2011 | Item | ShareThis


United Mining Group Announces Bulk Sampling Results at the Crescent Silver Mine Project - "United Mining Group, Inc. ("UMG" or the "Company") (TSX:UMG - News) (Pinksheets:UMGZF - News) (Frankfurt:UM8 - News) is pleased to announce geochemical results of the South Vein intercepted by the underground bulk sampling program currently ongoing at the Crescent Silver Mine in the Coeur d'Alene district of north Idaho." More
- April 05, 2011 | Item | ShareThis


Vantex Resumes Drilling on Moriss - More
- April 05, 2011 | Item | ShareThis


Berkwood Deploys Indonesian Field Team to Begin Work Program on Cimandiri Gold Property in Java Indonesia - More
- April 05, 2011 | Item | ShareThis


Selwyn Resources Ltd.: High Grade Drill Results Continue From Don Deposit - More
- April 05, 2011 | Item | ShareThis


Gold Standard to Spend $8 Million on Nevada Exploration in 2011 Drilling to Begin in May to Follow Up 2010 North Bullion Zone Gold Discovery - More
- April 05, 2011 | Item | ShareThis


Orvana Announces Production at Don Mario UMZ Copper-Gold-Silver Mine, Bolivia - More
- April 05, 2011 | Item | ShareThis


Golden Tag to Raise $2.75 Million - More
- April 05, 2011 | Item | ShareThis


China Gold International Announces 2011 Aggressive Exploration Plan for its Jiama Project - More
- April 05, 2011 | Item | ShareThis


Confederation Minerals Ltd. Intersects Additional High-Grade Gold at Newman Todd - More
- April 05, 2011 | Item | ShareThis


Pershimco Appoints Serge Biron to Lead the Pershimco Exploration Team in Latin America - More
- April 05, 2011 | Item | ShareThis


Colombia Crest Finalizes Option to Acquire the Venecia Project, Colombia - More
- April 05, 2011 | Item | ShareThis


Seafield Begins Drilling Santa Sofia Target, Quinchia Gold Project, Colombia - More
- April 05, 2011 | Item | ShareThis


Alderon Announces Initial Iron Ore Resource at Kami - More
- April 05, 2011 | Item | ShareThis


GGG Resources plc: Bullabulling Gold Project-Resource Drilling Update - More
- April 05, 2011 | Item | ShareThis


Silver Dragon's Sino-Top Joint Venture Prepares for 12,000 Meter Drilling and 3,500 Meter Tunneling Exploration Program for 2011 - More
- April 05, 2011 | Item | ShareThis


San Gold First Quarter Mine Production Outpaces Current Mill Capacity - More
- April 05, 2011 | Item | ShareThis


Apogee Intersects 2.0 Meters Grading 3,163.00 g/t Silver and 4.40 Meters Grading 584.47 g/t Silver at the Pulacayo Deposit - More
- April 05, 2011 | Item | ShareThis


Silver Quest Reports Significant Geochemical Results From Capoose Project, BC - More
- April 05, 2011 | Item | ShareThis


Alexis Makes Landmark Agreement to Acquire 100% Ownership in Joint Venture Properties in Rouyn-Noranda, Quebec - More
- April 05, 2011 | Item | ShareThis


Cadillac Extends Thierry Mineralization Along Eastern Strike - More
- April 05, 2011 | Item | ShareThis


Largo Provides Update on Production Schedule for Currais Novos Tungsten Project, Brazil - More
- April 05, 2011 | Item | ShareThis


Avion Djambaye II Zone Infill Drilling Returns an Average Grade 47% Higher Than Indicated in Resource Model - More
- April 05, 2011 | Item | ShareThis


Redstar Intersects High-Grade Gold at Newman Todd - More
- April 05, 2011 | Item | ShareThis


Kirrin Resources Reports 2010 Results - More
- April 05, 2011 | Item | ShareThis


Lydian Reports Resource Update of 2.5 Million Ounces Gold at Its Amulsar Project; Armenia - More
- April 05, 2011 | Item | ShareThis


Avalon Provides Progress Report on Metallurgical Testwork, Nechalacho Rare Earth Elements Deposit, Thor Lake, Northwest Territories, Canada - More
- April 05, 2011 | Item | ShareThis


St. Eugene Files Mineral Resource Evaluation Report for Amisk Gold Project - More
- April 05, 2011 | Item | ShareThis


Carpathian Updates Resource Estimate for RDM Gold Project, Brazil: Open-Pit Measured + Indicated Resource Increase by 15% - More
- April 05, 2011 | Item | ShareThis


Castillian Intersects 2.78 Grams Gold Per Tonne Over 19.8 Metres in Pit Zone at Hope Brook Project, Newfoundland - More
- April 05, 2011 | Item | ShareThis


Pancontinental Uranium Corporation: Crossland Recommences Drilling at Charley Creek, NT, Australia Testing REE Targets - More
- April 05, 2011 | Item | ShareThis


TVI Releases Additional Balabag Gold Project Drill Results and Continues to Proceed Toward a Mine Development Decision - More
- April 05, 2011 | Item | ShareThis


Spartan Gold Ltd. Approved for Full DTC/CNS Eligibility Effective April 01, 2011 - More
- April 05, 2011 | Item | ShareThis


Medusa Mining Limited: Co-O Drilling Continues High Grade Results - More
- April 05, 2011 | Item | ShareThis


Assays Received for Seven Drill Holes & Gold Discovered in the East - More
- April 05, 2011 | Item | ShareThis


Brookemont Capital Inc.: Additional Field Work Reports New Mineralization on Gold Prospect in Tanzania - More
- April 05, 2011 | Item | ShareThis


ECU Silver Provides Update on Deep Drilling of Massive Sulphides - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to report on the status of the high-performance deep hole diamond drill that arrived on site at the Velardena Property on March 23, 2011." More
- April 05, 2011 | Item | ShareThis


Silvermex Reports Financial Results for 2010 - "Silvermex recorded a consolidated net loss of $41,467,946 for the year ended December 31, 2010, compared to $15,309,189 in 2009. Of this loss, $37,468,666 was due to the impairment of goodwill, which arose on the business combination. The Company has completed the preliminary purchase price allocation for the acquisition of Silver One. The preliminary goodwill on this transaction stemmed primarily from the change in the fair value of the share consideration received by the former shareholders of Silver One." More
- April 05, 2011 | Item | ShareThis


Seabridge Gold Announces Transition in Chief Financial Officer Position - "Rudi Fronk, President and CEO of Seabridge Gold (TSX:SEA - News)(AMEX:SA - News), announced today that Christopher J. Reynolds, CGA, 47, will join the Company as Vice President, Finance, Chief Financial Officer and Corporate Secretary effective May 1, 2011. Mr. Reynolds will be replacing Roderick Chisholm, CA who is retiring from these positions after more than 8 years with the Company." More
- April 05, 2011 | Item | ShareThis


Kirkland Lake Gold Inc.: December Year-End Reserve & Resources Update; High Grade Gold Ounces Added and Replaced During 7-Month Shortened Year - "Kirkland Lake Gold Inc. (TSX:KGI - News)(AIM: KGI) (the "Company") presents its annual gold reserve and resource estimates (now based on a December 31st year end) for its operations in Kirkland Lake, Ontario on both the historic Main Break and the Company's high grade South Mine Complex (SMC) discovered in 2005 its high grade South Mine Complex (SMC)." More
- April 05, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2011

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 5 April, 2011 | |


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