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Gold Seeker Closing Report: Gold and Silver End Slightly Higher At New Highs

By: Chris Mullen, Gold-Seeker.com


-- Posted 7 April, 2011 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1458.00

+$1.50

Silver

$39.52

+$0.19

XAU

226.00

+0.45%

HUI

595.73

-0.24%

GDM

1737.25

-0.30%

JSE Gold

2819.62

-31.78

USD

75.57

+0.03

Euro

143.03

-0.30

Yen

117.77

+0.75

Oil

$110.30

+$1.47

10-Year

3.555%

+0.010

T-Bond

118.62625

-0.3125

Dow

12409.49

-0.14%

Nasdaq

2796.14

-0.13%

S&P

1333.51

-0.15%

 
Foreign Gold Prices
CAD
1,400.18
EUR
1,020.57
GPB
894.62
JPY
123,998.46
CHF
1,337.60
USD
1,459.75
 
 

 

The Metals:

 

Gold rose to a new all-time high of $1464.75 by a little before 10AM EST before it fell back off into the close, but it still ended with a gain of 0.1%.  Silver climbed to as high as $39.673 before it also fell back off in late trade, but it still ended with a gain of 0.48% and made a new 31-year closing high.

 

Euro gold climbed back over €1020, platinum lost $6.50 to $1781.50, and copper gained another 5 cents to about $4.42.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

4/02

382K

386K

392K

Consumer Credit

Feb

$3.8B

$2.5B

$2.2B

 

Mood sours as Congress seeks budget deal  Reuters

Rate on 30-year fixed mortgage rises to 4.87 pct.  Yahoo

U.S. Regional Mall Vacancies Are Highest in at Least a Decade  Bloomberg

 

Tomorrow at 10AM EST brings the Wholesale Inventories report for February expected at 1.0%.

 

The Markets:

 

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

 

Oil topped $110 a barrel on worries over possible unrest in Nigeria.

 

The U.S. dollar rose versus the euro after Trichet did not make it clear that more interest rate hikes are coming from the European Central Bank following the widely expected hike that was announced this morning, but gains for the dollar index were very limited by the close due to worries over Japan that sent the yen higher.

 

Treasuries fell following the ECB announcement.

 

The Dow, Nasdaq, and S&P fell on worries over impacts from another earthquake off the coast of Japan, but reports of any damage so far are very limited and stocks ended off their midday lows.

 

Among the big names making news in the market today were GE, Lehman Brothers, Dish and Blockbuster, Victoria’s Secret, Costco, and Valeant.

 

GATA Posts:

On CNBC Asia, Ben Davies explains why gold is better than gold ETFs

Maybe the Fed could persuade the LBMA to get into corn storage ...

Adrian Douglas: Bullion bank trading -- a closely guarded secret

Lew Rockwell: Use the dollar or else

Sean Fieler and Jeffrey Bell: Our unaccountable Fed

 

The Statistics:

Activity from: 4/06/2011

Gold Warehouse Stocks:

11,010,818

-21,750

Silver Warehouse Stocks:

104,681,131

-205,562

 

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

1205.467

38,756,955

US$56,541m

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

Gold Bullion Securities

115.22

3,704,396

US$5,400m

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

ETFS Physical Gold

123.85

3,982,028

US$5,804m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,473

US$666m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

48.51

1,559,662

US$2,236m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,958

US$7m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 7.278 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 125.24 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,162.45 - No change from yesterday’s data.

 

The Miners:

 

Almaden’s (AAU) drill results, Buenaventura’s (BVN) mine strike, Newmont’s (NEM) plans to increase gold production, Aurcana’s (AUN.V) first quarter production, and First Majestic’s (AG) first quarter production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Minco Gold

MGH +4.60% $2.50

2.  Kimber

KBX +4.40% $1.90

3.  Great Panther

GPL +4.04% $4.12

 

LOSERS

1.  Claude

CGR -7.19% $2.58

2.  Golden Minerals

AUMN -5.31% $21.40

3.  Midway

MDW -5.12% $2.04

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:

Amerix Shareholders Approve Special Resolution Authorizing Consolidation of Common Shares and Elect Additional Director - More
- April 07, 2011 | Item | ShareThis


Diamond Frank Shareholders Approve Resolutions at the 2011 Annual Meeting - More
- April 07, 2011 | Item | ShareThis


China Minerals Announces Grant of Options - More
- April 07, 2011 | Item | ShareThis


Arehada Subject to Temporary Cease Trade Order - More
- April 07, 2011 | Item | ShareThis


Amex Closes Additional $250,000 Private Placement - More
- April 07, 2011 | Item | ShareThis


White Tiger Gold Announces Discovery of New Gold Mineralization Zone - More
- April 07, 2011 | Item | ShareThis


Hard Creek Nickel Corporation: Metallurgical Tests for Cliff Zone Show Significant Nickel and PGE Concentrate Grades - More
- April 07, 2011 | Item | ShareThis


Andover Ventures Inc.: Kennecott Reports on Exploration Activities at Big Hill Property, East Tintic District, Utah - More
- April 07, 2011 | Item | ShareThis


Harmony Enters Into Definitive Option Agreement With ECI Exploration and Mining Inc. and Completes NI 43-101 Report on the Purisima Project - More
- April 07, 2011 | Item | ShareThis


Amarillo Gold Completes Definition Drilling at Mara Rosa Gold Project in Brazil and Reports Results from 4 Holes-Including 7m @ 6.36 g/t Au Intercept - More
- April 07, 2011 | Item | ShareThis


Nuinsco Drilling Continues to Intersect Uranium at Diabase Peninsula Project - More
- April 07, 2011 | Item | ShareThis


Cascadero Copper Corporation Grants Stock Options - More
- April 07, 2011 | Item | ShareThis


Shield Gold Announces Non-Brokered Private Placement - More
- April 07, 2011 | Item | ShareThis


Channel Resources Reports Metallic Screen Assay Results From Tanlouka Gold Project, Burkina Faso - More
- April 07, 2011 | Item | ShareThis


Drilling Intersects 3.47 g/t Gold Over 48.50 m at Almaden's Caballo Blanco Project, Mexico - "We are very pleased to receive these new results from Goldgroup's on-going drill program at Caballo Blanco. The Caballo Blanco and nearby El Cobre projects are both underexplored and highly prospective projects in our portfolio. We are excited with Goldgroup's plans for Caballo Blanco and look forward to reporting results as they are received." More
- April 07, 2011 | Item | ShareThis


Malbex Warrants to Expire April 29, 2011 - More
- April 07, 2011 | Item | ShareThis


Aurcana Announces Record Silver Production, La Negra Production Expansion and Shafter Construction on Target - "Aurcana Corporation ("Aurcana" or the "Company") (TSX-V:AUN - News) is pleased to report that the 2011 first quarter production figures for the La Negra mine in Mexico confirmed record silver production and La Negra is on track for a record year." More
- April 07, 2011 | Item | ShareThis


Decade Resources Ltd.: Blackwater Area Claims Acquired - More
- April 07, 2011 | Item | ShareThis


Mountain Boy Minerals Ltd.: Blackwater Area Claims Acquired - More
- April 07, 2011 | Item | ShareThis


Sphere Resources Inc. Completes Induced Polarization Geophysical Work at the Dome Property in Red Lake, Ontario and Plans Phase 1 Drill Program - More
- April 07, 2011 | Item | ShareThis


Prospero Silver Retains Investor Relations Consultant - More
- April 07, 2011 | Item | ShareThis


Mesa Exploration Acquires Potash Projects - More
- April 07, 2011 | Item | ShareThis


Dalradian Continues to Extend Veins Along Strike and Down Dip at Curraghinalt; Drills 2.54 Metres Grading 20.61 g/t Gold - More
- April 07, 2011 | Item | ShareThis


Globex Mining Enterprises Inc.: Tonnage Increases Significantly at Bell Mountain Gold Property - More
- April 07, 2011 | Item | ShareThis


Claim Post Resources Inc. Retains RBL Communications and Commences Social Media Program - More
- April 07, 2011 | Item | ShareThis


Northern Gold and ValGold Announce Agreement to Consolidate 100% Ownership of Garrison Property - More
- April 07, 2011 | Item | ShareThis


Bison Gold Resources Inc. Increases Drilling Program from 5,000 Metres to 10,000 Metres on the Central Manitoba Property, Announces Appointment of Gene McLean - More
- April 07, 2011 | Item | ShareThis


Commander Plans 2011 Exploration Program - More
- April 07, 2011 | Item | ShareThis


Frontline Gold Adds Darryl Sittler as an Independent Director to Board - More
- April 07, 2011 | Item | ShareThis


Golden Valley Mines Ltd.: Optioned and/or Joint Ventured Project Highlights and Outlook - More
- April 07, 2011 | Item | ShareThis


Buenaventura Announces Strike by Contractor Workers at the Uchucchacua Mine - "Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (NYSE:BVN - News), Peru's largest publicly-traded precious metals mining company announced today that Contractors at the Uchucchacua Mine commenced a strike related to several labor claims, but were mainly focused on the surrounding Oyon Community's interests." More
- April 07, 2011 | Item | ShareThis


Adventure Gold Intersects 12.9 g/t Au Over 8 Metres at Pascalis Colombiere Property in Val d'Or East Area - More
- April 07, 2011 | Item | ShareThis


Frontline Gold Makes a Gold Discovery, Completes RC Drilling Program and Resumes Diamond Drilling at Niaouleni, Mali - More
- April 07, 2011 | Item | ShareThis


Mexivada Options Additional 5% Interest in Poker Flats and Ziggurat Projects to Spartan Gold Ltd; Augments Mexivada Cashflow Model - More
- April 07, 2011 | Item | ShareThis


Rio Cristal Updates Status of Its Projects - More
- April 07, 2011 | Item | ShareThis


Alto Group Holdings Announces Approval of Commercial Exploitation License of Bouge Gold Project - More
- April 07, 2011 | Item | ShareThis


Lions Gate Metals Inc. Appoints Mr. John Tapics to the Board - More
- April 07, 2011 | Item | ShareThis


Argonaut Gold Begins Resource Expansion Drilling at the La Colorada Project, Sonora, Mexico - More
- April 07, 2011 | Item | ShareThis


Zinccorp Options ET Claims in the Mayo Mining District in Yukon - More
- April 07, 2011 | Item | ShareThis


Galliard Resources Corp. Appoints New Officer - More
- April 07, 2011 | Item | ShareThis


African Gold Group: KBRC11-025 Hits 10 m of 5.7 g/t Au & 15 m of 4.79 g/t Au; KBRC11-008 Hits 3 m of 42.4 g/t Au; KBRC11-001 Hits 3 m of 29.7 g/t Au in North - More
- April 07, 2011 | Item | ShareThis


Atna Announces Expansion of Deep Briggs Zone - More
- April 07, 2011 | Item | ShareThis


Volcanic to Review Strategic Alternatives - More
- April 07, 2011 | Item | ShareThis


Bravada Closes First Tranche of Financing - More
- April 07, 2011 | Item | ShareThis


Abzu Gold Acquires Rights to the U&N Concession in the Ashanti Region of Ghana - More
- April 07, 2011 | Item | ShareThis


Columbus Gold Encounters Additional Gold Intercepts in Drilling at Weepah Project, Nevada - More
- April 07, 2011 | Item | ShareThis


3D Animation Featuring 2010 Resources at the Kipawa HREE-Y-Zr Deposit Available on Matamec's Website - More
- April 07, 2011 | Item | ShareThis


Laurentian Goldfields Ltd. Commences Drill Program at Thundercloud Project - More
- April 07, 2011 | Item | ShareThis


Ivernia Provides Update on Operations at the Magellan Mine - More
- April 07, 2011 | Item | ShareThis


United Reef Releases Results and Terminates Option on Nixon Bartleman Property, West Timmins Area - More
- April 07, 2011 | Item | ShareThis


Pacific Rim Mining Undertaking Financing - More
- April 07, 2011 | Item | ShareThis


Puma Exploration: Silver and Gold Intersected in the First Six Holes Drilled in 2011 at Nicholas-Denys, Bathurst Mining Camp, New Brunswick - More
- April 07, 2011 | Item | ShareThis


Rodinia Lithium Retains Services of Former FMC Lithium Division Manager, New Resources & Process Development - More
- April 07, 2011 | Item | ShareThis


Quaterra Plans Additional Drilling at Willow Creek Molybdenum Prospect, Montana - More
- April 07, 2011 | Item | ShareThis


Barkerville Provides Update on the Permitting of the Bonanza Ledge Mine - More
- April 07, 2011 | Item | ShareThis


Crosshair Announces Plans for Bootheel - More
- April 07, 2011 | Item | ShareThis


Anfield Intersects 22.1 Meters Grading 2.52% Nickel, Including 11.4 Meters Grading 3.03% Nickel at Its Mayaniquel Project, Guatemala - More
- April 07, 2011 | Item | ShareThis


NQ Exploration Inc./Carheil Project: Silver Zones Confirmed and GOLD-SILVER Zone Discovered at Depth - More
- April 07, 2011 | Item | ShareThis


Lumina Intersects 318 Meters Grading 0.95% Copper Equivalent at Taca Taca Copper-Gold-Molybdenum Project, Argentina - More
- April 07, 2011 | Item | ShareThis


Strategic Mining Announces New Plans for Drill Program in Vietnam and Initiates Correction With FINRA to Remove "E" From Trading Symbol - More
- April 07, 2011 | Item | ShareThis


Santa Fe Gold Announces Research Coverage - More
- April 07, 2011 | Item | ShareThis


NEVADO Intersects Up to 62.6 Metres Grading 59.8% Fe2O3 (41.8% FeT), 17.9% TiO2 and 0.08% V2O5 From the Farrell-Taylor Occurrence On-Going Diamond Drilling - More
- April 07, 2011 | Item | ShareThis


San Gold Corporation - 007 East Zone Expands Along Shoreline Basalt - More
- April 07, 2011 | Item | ShareThis


Western Copper Announces Updated Pre-Feasibility Study on Casino Project - More
- April 07, 2011 | Item | ShareThis


Eurasian Minerals and Vale Exploration Canada Sign Regional Acquisition Agreement for Copper Projects in the Western United States - More
- April 07, 2011 | Item | ShareThis


Willow Creek Signs LOI for New Mining Claims in Nevada - More
- April 07, 2011 | Item | ShareThis


Quantum Moves Head Office, Commences Airborne Survey - More
- April 07, 2011 | Item | ShareThis


American Manganese Engages Kemetco for Research on Lithium Manganese Oxide Battery Technology - More
- April 07, 2011 | Item | ShareThis


Spartan Gold Ltd. Increases Stake in Nevada Gold Properties to 75% Net Working Interest - More
- April 07, 2011 | Item | ShareThis


Northland Appoints Anders Antonsson as Vice President, Investor Relations - More
- April 07, 2011 | Item | ShareThis


Serabi Mining plc ("Serabi" or "the Company") First Drill Test of Geophysical Targets at Piaui Intersects Significant Gold Mineralisation - More
- April 07, 2011 | Item | ShareThis


Petaquilla Gold, S.A.-Largest Exporter in Panama - More
- April 07, 2011 | Item | ShareThis


First Majestic Silver Corp.: Silver Production Up 25%; Reaches 97% Pure Silver and Maintains Status as "Purest Silver Company in the World" - "First Majestic Silver Corp. (TSX:FR - News)(AMEX:AG - News)(Frankfurt:FMV - News)(WKN: A0LHKJ) ("First Majestic" or the "Company") is pleased to announce that production in the first quarter of 2011 reached 1,825,366 equivalent ounces of silver, representing a 13% increase over the 1,619,403 equivalent ounces of silver produced in the first quarter of 2010. Production during the quarter consisted of 1,769,209 ounces of silver, making First Majestic's first quarter production 97% pure silver, the highest in the silver mining industry." More
- April 07, 2011 | Item | ShareThis


Newmont Announces Plan to Increase Annual Gold Production to Approximately 7 Million Ounces by 2017 - "Newmont Mining Corporation (NYSE:NEM - News) will discuss today at its annual Investor Day conference the comprehensive plan for the development of its current global portfolio of assets that would increase annual gold production to approximately 7 million ounces by 2017. This production target represents a potential aggregate increase of approximately 35% in anticipated 2017 annual production from the Company's previously announced 2011 attributable gold production outlook of 5.1 to 5.3 million ounces. The Company also announced a new dividend policy that will link its quarterly dividend payment to Newmont's average realized price of gold sales." More
- April 07, 2011 | Item | ShareThis


Pilot Gold Announces Listing on the TSX - More
- April 07, 2011 | Item | ShareThis


Victory Gold Mines Inc. Closes on $490,500 Common Share Units and Flow-Through Financing - More
- April 07, 2011 | Item | ShareThis


Commander Appoints New Vice President of Exploration - More
- April 07, 2011 | Item | ShareThis


Gowest Announces Name Change - More
- April 07, 2011 | Item | ShareThis


Sanatana Diamonds Inc.: Result of Special Meeting - More
- April 07, 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 7 April, 2011 | |


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