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

	Close	Gain/Loss
Gold	$1491.60	+$6.40
Silver	$42.79	+$0.27
XAU	216.72	-0.91%
HUI	576.55	-1.30%
GDM	1686.58	-1.03%
JSE Gold	2771.14	-39.95
USD	75.50	+0.64
Euro	142.34	-0.93
Yen	120.97	+0.77
Oil	$107.12	-$2.54
10-Year	3.371%	-0.039
T-Bond	121.15624	+0.34375
Dow	12201.59	-1.14%
Nasdaq	2735.38	-1.06%
S&P	1305.14	-1.10%

Gold fell off to $1476.90 in London before it spiked up to $1497.53 in early New York trade and then fell back to $1482.70 in late morning trade, but it then rallied back higher midday and ended near its new all-time high with a gain of 0.43%. Silver jumped to a new 31-year high of $43.515 before it fell back to $42.198, but it also rallied back higher in late trade and ended with a gain of 0.63%.

Euro gold rose to about €1049, platinum lost $18 to $1770, and copper fell 6 cents to about $4.19.

Gold and silver equities fell almost 3% in the first hour of trade, but they then rallied back higher for the rest of the day and ended only about 1% lower.

Report	For	Reading	Expected	Previous
NAHB Housing Market Index	April	16	17	17

Tomorrow at 8:30AM EST brings Housing Starts for March expected at 520,000 and Building Permits expected at 540,000.

Oil fell as the U.S. dollar index and treasuries rose on S&P’s warning on US debt.

The Dow, Nasdaq, and S&P fell over 1% on worries over the US’ credit worthiness.

Among the big names making news in the market today were VW, NYSE, and Citigroup.

“Gold experienced a strong move higher today as news filtered out over S&P's downgrade to the US credit outlook.

As mentioned in my last Friday radio interview with Eric King on the Weekly Metals Wrap, I did not expect it to breach this level on its first approach. This level has as much significance as $1,000 in the sense that it is psychologically significant. There are traders who had $1500 as an initial target for this leg and it is normal to see them booking profits on the first approach. A setback therefore would not be expected. There are several levels on the chart that should provide some downside technical support should this occur.

If, on the other hand, gold goes right through $1500 without so much as pausing, it will indicate that its price is about to accelerate sharply higher.

Approximately two weeks ago to this date, the gold and silver mining shares experienced a tremendous wave of short covering along with some new buying. Some of this was an unwind of the short positions established as a spread trade against the metals. After plowing through the 600 level and setting an all time high in the index, the spread trades were reapplied across some company stocks pushing the index back down even in the face of rising metals prices.

If you note on the chart, the index moved back down to the same precise level at which the fierce wave of short covering commenced. It held firmly and moved back up off the level. While it is down, it appears that this level near and just below 570 is solid support in the sector. If that is the case, the shares should hold near current levels.

Let's see what the rest of the session brings us and what tomorrow does as well in regards to these miners.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/

COMEX Gold Trust (IAU) Total Tonnes in Trust: 133.69: +0.34 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 11,044.07: +69.81 change from yesterday’s data.

Banro’s (BAA) document update, IAMGOLD’s (IAG) mine update, Randgold’s (GOLD) predevelopment phase, Gold Fields’ (GFI) increased stake, Seabridge’s (SA) optioned project, Exeter’s (XRA) drill results, Aurcana’s (AUN.V) rejected credit facility, and Hecla’s (HL) rescue operation 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.

Banro Provides Update - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") confirms that a document recently circulated purportedly from the Company regarding corporate activity was not prepared by and is not from the Company. The Company has no knowledge of the source of this document. While it is Banro's general policy not to comment on market activity or rumours, the Company is in preliminary discussions only. The Company has not entered into any formal agreement and there is no assurance that any such agreement will be entered into or that any transaction will be pursued or completed." More
- April 18, 2011 | Item | ShareThis

Nikos Announces Termination of Letter of Intent and Private Placement - More
- April 18, 2011 | Item | ShareThis

Kent Updates Drilling at Alexander River Gold Project; Applies for Exploration Permit - More
- April 18, 2011 | Item | ShareThis

Century Mining Corporation Concerned Shareholders Question Business Combination with White Tiger Gold Ltd. - More
- April 18, 2011 | Item | ShareThis

Soldi Ventures Inc. is Awaiting Assay Results from its Winter Drill Program on the Rainy River and Cameron Lake Claims - More
- April 18, 2011 | Item | ShareThis

Aurcana Announces Decision Not to Proceed on US$25M Credit Facility and Receives Notice of Civil Claim - "Aurcana Corporation (TSX-V:AUN - News) ("Aurcana" or the "Company") reports that Aurcana's Board of Directors did not approve the terms of a proposed US$25M credit facility announced on November 19, 2010 to provide additional funding to advance the Company's Shafter Project in Texas with Sprott Asset Management LP ("SAM") and Sprott Resource Lending Partnership ("SLP"). The Board determined that the restrictive covenants proposed in the credit facility and the cost to the Company was not in the best interests of the Company and its shareholders. Silver prices have increased substantially since commencing negotiations on the credit facility in October, 2010. Assuming that silver prices remain in the current price range of $35 per ounce, the aggregate cost of the debt facility to the Company will be approximately US$50M to borrow US$25M over a 3 year period. In addition, the overly restrictive terms of the credit facility will result in undue risk to the assets and future operations of the Company. The Board of Directors provided authority to the Company's President to renegotiate the terms of the credit facility but the negotiations with SAM and SLP have been unsuccessful." More
- April 18, 2011 | Item | ShareThis

Naina Capital Corp. - Results of Annual General Meeting - More
- April 18, 2011 | Item | ShareThis

Pinestar Increases Drilling on Becker Property to 1500 Metres - More
- April 18, 2011 | Item | ShareThis

Primero Provides Notice of Release of First Quarter 2011 Results and Annual General and Special Meeting of Shareholders - More
- April 18, 2011 | Item | ShareThis

Kenai Resources Ltd.: Test Gold Production Commenced at Sao Chico, Brazil - More
- April 18, 2011 | Item | ShareThis

Castle Peak Secures Drill Contract, Set to Commence Drilling This Week - More
- April 18, 2011 | Item | ShareThis

Uragold Discovers a Gold Rich Basal Till Suggesting Proximity to a Bedrock Source for the Beauce Placer Gold - More
- April 18, 2011 | Item | ShareThis

IAMGOLD's Essakane Mine Continues to Operate Without Interruption in Burkina Faso - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) today provided an update on its Essakane Mine in Burkina Faso, West Africa. The Essakane Mine is located approximately 500 kilometres northeast of the capital city of Ouagadougou." More
- April 18, 2011 | Item | ShareThis

Predevelopment paves way for early Kibali start - "Rapid progresson the predevelopment phase of the giant Kibali gold project is pavingthe way for the targeted mid-year start of mine construction." More
- April 18, 2011 | Item | ShareThis

Globex's Mooseland Royalty Property Returns High Grade Gold - More
- April 18, 2011 | Item | ShareThis

Portage Minerals Inc. Signs Letter of Intent to Acquire Remaining 70% of Clarence Stream Gold Property - More
- April 18, 2011 | Item | ShareThis

Carlisle Goldfields Initiates Drill Program in Lynn Lake - More
- April 18, 2011 | Item | ShareThis

Legend Gold Corp. Exploration Update - More
- April 18, 2011 | Item | ShareThis

Comstock Mining Expands Management for Production - More
- April 18, 2011 | Item | ShareThis

Copper Ridge Acquires the Marg Deposit, Yukon - More
- April 18, 2011 | Item | ShareThis

Choice Gold Corp. Unveils New Website - More
- April 18, 2011 | Item | ShareThis

China Minerals Announces Change of Auditor - More
- April 18, 2011 | Item | ShareThis

Wildcat Drill Results Include 26 Metres of 346.52 G/T Silver, 12.24% Manganese, 3.16% Zinc, 4.22% Lead and 0.30% Copper - More
- April 18, 2011 | Item | ShareThis

Mercer Gold Encouraged by Further Analysis of Guayabales Gold Property, Colombia - More
- April 18, 2011 | Item | ShareThis

Comstock Mining Aligns Management for Production - More
- April 18, 2011 | Item | ShareThis

Full Metal and Antofagasta Minerals Announce 2011 Drill Program at Pyramid - More
- April 18, 2011 | Item | ShareThis

Lithium Exploration Group: Nevada Lithium Brines on the Decline Spell Opportunity in Alberta - More
- April 18, 2011 | Item | ShareThis

Klondex Announces Expanded 2011 Surface Exploration Program at its High Grade Nevada Gold Project, Fire Creek - More
- April 18, 2011 | Item | ShareThis

Sandstorm Gold Announces 55 Metres of 4.15 g/t at Luna Gold's Aurizona Mine - More
- April 18, 2011 | Item | ShareThis

Luna Gold Drills 55.00 Meters @ 4.15 Grams/Tonne Au Including 17.00 Meters @ 7.80 Grams/Tonne Au at Aurizona - More
- April 18, 2011 | Item | ShareThis

Mazorro Resources and Adventure Gold Begin Phase I Drill Program on Lapaska Property, Val D'or East Area, Quebec - More
- April 18, 2011 | Item | ShareThis

Adventure Gold and Mazorro Resources Begin Phase I Drill Program on Lapaska Property, Val d'Or East Area, Quebec - More
- April 18, 2011 | Item | ShareThis

TNR Gold Corp.: Jiangxi Ganfeng Lithium Co. Ltd. Board Approves Strategic Investment in International Lithium Corp. - More
- April 18, 2011 | Item | ShareThis

Huakan International Mining Inc. Appoints VP of Business Development and Grants Stock Options - More
- April 18, 2011 | Item | ShareThis

Business as Usual for SEMAFO's Mana Mine in Burkina Faso - More
- April 18, 2011 | Item | ShareThis

Metso to Supply Mineral Processing Equipment and Services to Northland's Kaunisvaara Project in Sweden - More
- April 18, 2011 | Item | ShareThis

Calico Acquires Option for Grassy Mountain Project - More
- April 18, 2011 | Item | ShareThis

First Point Approves $2 Million Worldwide Campaign to Explore for Nickel-Iron Alloy Targets in 2011 - More
- April 18, 2011 | Item | ShareThis

Rusoro Mining Reports Its 2010 Financial Results - More
- April 18, 2011 | Item | ShareThis

Alexis Appoints a New Director to Its Board - More
- April 18, 2011 | Item | ShareThis

Alto Group Holdings Announces Environmental Permit Approved on Bogue Gold Project - More
- April 18, 2011 | Item | ShareThis

PC Gold Announces Initial 1.26 Million Ounce Gold Resource for Pickle Crow - More
- April 18, 2011 | Item | ShareThis

Champion Minerals Awards Two Railway Infrastructure Studies to Rail Cantech Inc. and Stantec Consulting - More
- April 18, 2011 | Item | ShareThis

Terraco Announces Drilling Underway With Two Core Rigs At the Almaden Project in Idaho - More
- April 18, 2011 | Item | ShareThis

Lithium Americas Announces Positive Preliminary Economic Assessment for Its Cauchari Lithium Project - More
- April 18, 2011 | Item | ShareThis

NEVADO Partners With Neomet Technologies to Adapt Their Unique Patented Process for the Extraction of All Valuable Metals - More
- April 18, 2011 | Item | ShareThis

Goldrush Intersects 1.82 g/t Gold Over 37 Metres, Including 2.95 g/t Au Over 16 Metres in Step-Out Drilling at Ronguen Gold Deposit, Burkina Faso - More
- April 18, 2011 | Item | ShareThis

Shelron Enters Precious Metals Market - More
- April 18, 2011 | Item | ShareThis

Molycorp Acquires Rare Earth Metal and Alloy Manufacturer Santoku America, Inc. - More
- April 18, 2011 | Item | ShareThis

PBX Copaquire Copper Project Drill Update - More
- April 18, 2011 | Item | ShareThis

GGG Resources plc's Off-Market Takeover Offer for Auzex Resources Limited - More
- April 18, 2011 | Item | ShareThis

GMR Global Mineral Resources Corp. Announces 100% Acquisition of Enterprise Silver Mine; Past Production Record of 32,676,718 Grams - More
- April 18, 2011 | Item | ShareThis

Petaquilla Highlights Operational and Financial Performance - More
- April 18, 2011 | Item | ShareThis

Gold Fields Stake in Gold Fields La Cima Increases to 98.5% - "Gold Fields Corona (BVI) Limited ("Gold Fields Corona"), a wholly owned subsidiary of Gold Fields Limited (NYSE and JSE: GFI) today announced that it had increased its stake in Gold Fields La Cima S.A.A. (La Cima) from 80.7% to 98.5% following a voluntary offer to minorities in La Cima to acquire their shares at a cost of US$379 million." More
- April 18, 2011 | Item | ShareThis

Seabridge Gold Options Grassy Mountain Project to Calico Resources - "Seabridge Gold (TSX:SEA - News)(AMEX:SA - News) announced today that it has entered into a formal agreement granting Calico Resources Corp. (Calico) an option to acquire a 100% interest in the Grassy Mountain Project. To exercise the option, Calico must issue to Seabridge (i) 2,000,000 of its common shares following TSX Venture Exchange approval; (ii) 4,000,000 shares at the first anniversary and (iii) 8,000,000 shares when the Project has received the principle mining and environmental permits necessary for the construction and operation of a mine. In addition, after the delivery of a NI 43-101 compliant Feasibility Study on the Project, Calico must either grant Seabridge a 10% Net Profits Interest or pay Seabridge Cdn$10 million in cash, at the sole election of Seabridge." More
- April 18, 2011 | Item | ShareThis

Hecla Provides Update on Fall of Ground at the Lucky Friday Operation - "Our current focus is 100% directed to rescuing the miner and ensuring the safety of the rescue team," said Phil Baker, President and Chief Executive Officer. "Larry Marek is an experienced miner and has been with Hecla for 12 years. We deeply sympathize with the family, employees and overall situation and are doing all that is possible to progress with rescue operations in a safe and expedited manner. Our thoughts and prayers are with the family and loved ones." More
- April 18, 2011 | Item | ShareThis

Exeter Reports Successful Completion of Infill Drilling at Its Caspiche Gold-Copper Project, Chile - "Exeter Resource Corporation (TSX:XRC - News)(AMEX:XRA - News) (Frankfurt:EXB - News) - ("Exeter" or the "Company") is pleased to announce results from the infill drilling program on its Caspiche porphyry project in northern Chile. The purpose of the program was to lift higher grade inferred category mineralization into the indicated category." More
- April 18, 2011 | Item | ShareThis

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