Gold Seeker Closing Report: Gold and Silver Gain Again

	Close	Gain/Loss
Gold	$1516.70	+$13.50
Silver	$38.51	+$1.35
XAU	205.63	-0.44%
HUI	540.83	-0.68%
GDM	1578.36	-0.63%
JSE Gold	2582.29	+23.54
USD	74.59	-0.06
Euro	144.03	+0.38
Yen	123.72	-0.85
Oil	$103.88	+$1.33
10-Year	3.195%	+0.043
T-Bond	123.875	-0.5625
Dow	12760.36	+0.60%
Nasdaq	2871.89	+1.01%
S&P	1357.16	+0.81%

Gold climbed as much as $15.88 $1519.08 by a little after 8AM EST before it fell back off a bit in early New York trade, but it then rallied back higher midday and ended near its earlier high with a gain of 0.9%. Silver surged to as high as $38.703 before it also dipped a bit, but it still ended with a gain of 3.63%.

Euro gold rose to about €1056, platinum gained $8.50 to $1792.50, and copper gained a few cents to about $4.03.

Gold and silver equities traded mostly slightly lower and ended with modest losses.

Report	For	Reading	Expected	Previous
Import Prices	Apr	2.2%	-	2.6%
Import Prices ex-oil	Apr	0.6%	-	0.7%
Export Prices	Apr	1.1%	-	1.5%
Export Prices ex-ag.	Apr	1.0%	-	1.4%
Wholesale Inventories	Mar	1.1%	1.0%	1.0%

Tomorrow at 8:30AM EST brings the Trade Balance for March expected at -$47.7 billion and at 2PM is the Treasury Budget for April expected at -$41.0 billion.

The U.S. dollar index reversed early gains and ended lower on uncertainty over Greece.

Treasuries remained lower after today’s $32 billion 3-year note auction sold at a high yield of 1.000% with a bid to cover of 3.29.

Among the big names making news in the market today were Microsoft and Skype, Google, and Bank of America.

“Based on the reported open interest and volume numbers by the exchange, silver's rally yesterday was sparked by fresh shorts who sold the bottom last Thursday and Friday and are now having those sky high margins hit them for a change. Perhaps they have now learned that what is good for the goose is also good for the gander.

The market has had a nice pop off the low down near $33 but has yet to regain its footing above the 40 and 50 day moving averages. Until it does, its technical posture, while greatly improved, still remains bearish on the daily chart. You will note on the chart that unlike gold, which has retraced half of its recent losses, silver has not yet been able to recapture the 38.2% retracement level of its recent leg lower.

These steep sell offs followed by steep recoveries are always unsettling. What silver needs is a period of consolidation which will allow this excess volatility to get wrung out and let things calm down a bit. There has been way too much emotion in this market and that is being reflected by these wide price swings.

I like the fact that it continues to move away from the $33 level but I would feel a bit more comfortable from a bullish standpoint if it could at the very least clear last Thursday's high which is near $39.40. That would also put it above that 38.2% retracement level referenced above.

We will have to watch and see what level the stronger-handed shorts begin to dig in. There does look to be some resistance entering in here above $38 as I write this.

Once again, as usual, the shares continue to weigh on the entire sector.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.433 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 135.67 -0.66 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,564.75: +311.00 change from yesterday’s data.

Entree’s (EGI) asset sales, ITH’s (THM) new Chief Executive Officer, Barrick’s (ABX) foreign investment clearance, Northgate’s (NXG) first quarter results and CEO retirement, Newmont’s (NEM) agreement with the Indonesian Government's Ministry of Finance, and Taseko’s (TGB) increase in mineral reserves 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.

White Pine Grants Options - More
- May 10, 2011 | Item | ShareThis

Silver Sun Provides Update on Cherry Hill Gold Mine - More
- May 10, 2011 | Item | ShareThis

Cavan Enters LOI for Acquisition of Quebec Rare Earth Project, Proposed $1.5 Million and $1.0 Million Flow-Through Financing - More
- May 10, 2011 | Item | ShareThis

ASPA Gold Corp. Files Form 10-Q - More
- May 10, 2011 | Item | ShareThis

IBC Advanced Alloys Appoints Rubenstein Investor Relations Inc. - More
- May 10, 2011 | Item | ShareThis

Entree Gold Reports Sale of Non-Core Assets - "Entree Gold Inc. (TSX:ETG - News)(AMEX:EGI - News)(Frankfurt:EKA - News) ("Entree" or the "Company") has sold non-core assets for proceeds in excess of US$3.2 million. The non-core assets were acquired as part of the Company's June 2010 acquisition of PacMag Metals Limited ("PacMag")." More
- May 10, 2011 | Item | ShareThis

Ethos Budgets $6 Million for Yukon White Gold District in 2011 - More
- May 10, 2011 | Item | ShareThis

Amseco Exploration Ltd.: Positive Initial Results at the Malartic Property Beginning of Second Phase in June - More
- May 10, 2011 | Item | ShareThis

Coro Announces Start of 2,000m Diamond Drilling Program at Chacay and Acquisition of New Chilean Property - More
- May 10, 2011 | Item | ShareThis

Coastal Pacific Fulfills Further Obligation on Hotstone Property - More
- May 10, 2011 | Item | ShareThis

Josephine Mining Corp.; Current $1.2MM Drill Program Designed To Increase Mineral Resource Value - More
- May 10, 2011 | Item | ShareThis

Golden Predator to Host Conference Call; Resumes Drilling at Brewery Creek Project, Yukon - More
- May 10, 2011 | Item | ShareThis

Northern Freegold Announces Management and Board Changes Mobilization Underway to Freegold Mountain, Yukon - More
- May 10, 2011 | Item | ShareThis

Playfair Reports Drill Results From Seal Lake - More
- May 10, 2011 | Item | ShareThis

China Minerals Announces a Beijing Delegation to Visit the Cassiar Gold Mine - More
- May 10, 2011 | Item | ShareThis

Legend Gold Corp. Shareholders to Elect Directors May 24, 2011 - More
- May 10, 2011 | Item | ShareThis

Cogitore Reports Best Ever Drill Holes Into Central Lens at the Scott Lake Project - More
- May 10, 2011 | Item | ShareThis

Stellar Pacific Ventures Drills 12 Meters of 2.27 g/t Gold on Zone B-3, at the SOLOTOMO Discovery, Guinea West Africa - More
- May 10, 2011 | Item | ShareThis

Hudson Commences 10,000m Rare Earth Drill Program in Greenland - More
- May 10, 2011 | Item | ShareThis

Skeena Provides Update on Current Tropico Drilling, First Batch of Assays Due at End of May - More
- May 10, 2011 | Item | ShareThis

Dia Bras Intercepts More Wide Zones of Silver-Lead-Zinc-Copper Mineralization at Its Melchor Ocampo Property in Zacatecas State, Mexico - More
- May 10, 2011 | Item | ShareThis

Alto Group Holdings Announces Formation of Subsidiary Alto Cascade Resources Inc - More
- May 10, 2011 | Item | ShareThis

Meadow Bay Gold Surface Sample Assays Up to 8.7 g/t Au From Its Colorback Gold Project in Nevada - More
- May 10, 2011 | Item | ShareThis

DPM and Chelopech Mining Raise Final US$14.5 Million of Chelopech Project Financing Through Raiffeisenbank - More
- May 10, 2011 | Item | ShareThis

Renforth Obtains 1.57 g/t Au Over 15.2 Metres at New Alger Gold Project - More
- May 10, 2011 | Item | ShareThis

Mill City Announces 2011 Exploration Plans For Its Tombstone Gold Project - More
- May 10, 2011 | Item | ShareThis

Uranium North Mobilizes for Drilling at the Amer Lake Project - More
- May 10, 2011 | Item | ShareThis

El Tigre Drills Sietz Kelly and El Tigre Veins at Its Sonora, Mexico Property - More
- May 10, 2011 | Item | ShareThis

Ucore Releases 2011 Mine Scoping and Resource Development Plan - More
- May 10, 2011 | Item | ShareThis

Ruby Creek Closes Oversubscribed Private Placement - More
- May 10, 2011 | Item | ShareThis

Colorado Rare Earths, Inc. Appoints Edward Cowle to Board of Directors - More
- May 10, 2011 | Item | ShareThis

Linear Metals Provides an Update on Its Nyanza Project Exploration Program in Kenya - More
- May 10, 2011 | Item | ShareThis

Smash Minerals Commences Yukon Gold Exploration Program - More
- May 10, 2011 | Item | ShareThis

Dynasty Gold Announces Golden Repeat, Nevada 2011 Exploration Program May 10, 2011 - More
- May 10, 2011 | Item | ShareThis

NQ Intersects 232 g/t Ag and 0.87% Zn Over 7.0 Metres at the Carheil Project in the Selbaie Area - More
- May 10, 2011 | Item | ShareThis

Batero Gold Completes 100% Acquisition of Two Historic Gold Mines on Batero-Quinchia Project - More
- May 10, 2011 | Item | ShareThis

Ressources Minieres Pro-Or Inc.: $2,000,000 Private Placement - More
- May 10, 2011 | Item | ShareThis

Laurentian Goldfields Ltd. Stakes Rossing-Type Uranium Target in Saskatchewan - More
- May 10, 2011 | Item | ShareThis

Big Bear Mining Corp Announces Acquisition of Lewiston Mining District Properties in Fremont County Wyoming from Golden Predator Mines US Inc. - More
- May 10, 2011 | Item | ShareThis

RX Exploration Recommences Underground Test Mining Operations at Drumlummon Mine - More
- May 10, 2011 | Item | ShareThis

Ascot Resources Ltd. Starts 2011 Drill Program at Premier - More
- May 10, 2011 | Item | ShareThis

Salazar Extends High Grade Copper & Gold Mineralization in Curipamba With 36.33 Meters of 3.74 g/t Gold & 4.39% Copper - More
- May 10, 2011 | Item | ShareThis

La Quinta Resources Appoints Ed Baer to the Board - More
- May 10, 2011 | Item | ShareThis

Simba Announces Initial Drill Results From the Miyove Gold Project, Rwanda - More
- May 10, 2011 | Item | ShareThis

NuLegacy Commences 2011 Drilling Program on Red Hill Prospect, Nevada - More
- May 10, 2011 | Item | ShareThis

Woulfe Mining Corp.: Encouraging Drilling Results Reported at Sangdong - More
- May 10, 2011 | Item | ShareThis

Uranerz Initiates 2011 Powder River Basin Drilling Program - More
- May 10, 2011 | Item | ShareThis

Lake Victoria Mining Company Inc. Signs Four Option Agreements with Otterburn Ventures, Inc.; With Aggressive Drill Program Underway - More
- May 10, 2011 | Item | ShareThis

Lithium Exploration Group in Discussions with Laboratories About Processing Valleyview Lithium Brine - More
- May 10, 2011 | Item | ShareThis

Star Gold Provides Update on Its Excalibur Project - More
- May 10, 2011 | Item | ShareThis

Caza Gold Defines Intrusive-Hosted, Bulk-Mineable Gold Target at Balleza Zone, Moris Property, Chihuahua, Mexico - More
- May 10, 2011 | Item | ShareThis

Lumina Copper Corp. Announces Definitive Arrangement Agreement with Lumina Royalty Corp. - More
- May 10, 2011 | Item | ShareThis

Richfield Drills 377.97 Metres of 1.09 g/t Au Including 15 Metres of 9.30 g/t Au - More
- May 10, 2011 | Item | ShareThis

Khan Files Second Quarter 2011 Financial Results - More
- May 10, 2011 | Item | ShareThis

Source Samples 9.92 g/t Gold, 20.78 g/t Silver and 0.63 % Copper over 8.0 Metres at Las Minas Project - More
- May 10, 2011 | Item | ShareThis

Pilot Gold Adds Copper and Silver to TV Tower Gold Property - More
- May 10, 2011 | Item | ShareThis

Strait Gold Corporation Adopts Shareholders Rights Plan - More
- May 10, 2011 | Item | ShareThis

Silver Quest Announces 23 m of 9.14 g/t Gold and 15 m of 9.30 g/t Gold Intercepts at Davidson Gold Project, BC - More
- May 10, 2011 | Item | ShareThis

TVI Provides Siennalynn and Near-Mine Tenement Update and Welcomes New Head of Exploration - More
- May 10, 2011 | Item | ShareThis

Northair Intersects 39.3 Metres of 205.3 g/t Silver at La Cigarra Project, Mexico - More
- May 10, 2011 | Item | ShareThis

Tirex Resources Project Update - More
- May 10, 2011 | Item | ShareThis

U3O8 Corp. Grants Stock Options - More
- May 10, 2011 | Item | ShareThis

Gran Colombia and Medoro File Joint Information Circular - More
- May 10, 2011 | Item | ShareThis

Sama Resources Announces Addition of Second Drill Rig at Samapleu Nickel Copper Project in Cote D'Ivoire - More
- May 10, 2011 | Item | ShareThis

Earth Dragon Resources Announces New Mineral Exploration Opportunity and Provides Corporate Advisory - More
- May 10, 2011 | Item | ShareThis

Trade Winds Intersects 2.08 g/t gold over 30 metres on Block A - More
- May 10, 2011 | Item | ShareThis

Update on GGG's Takeover Offer - More
- May 10, 2011 | Item | ShareThis

Tambis Mapping Highlights Regional Potential - More
- May 10, 2011 | Item | ShareThis

North American Palladium Announces First Quarter 2011 Results - More
- May 10, 2011 | Item | ShareThis

International Tower Hill Mines Appoints James Komadina as New Chief Executive Officer - "International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the appointment of Mr. James J. Komadina as the Company's new Chief Executive Officer and as a director, effective June 1, 2011. He will be stepping into the role currently held by Jeff Pontius, who will move to the Company's board of directors. Mr. Komadina has 32 years of diverse natural resource experience in project development, construction and operations, having held senior management positions with major gold producers including Gold Fields, AngloGold and Newmont." More
- May 10, 2011 | Item | ShareThis

Barrick Receives Australian Foreign Investment Clearance for Equinox Acquisition - "Barrick Gold Corporation (NYSE:ABX - News)(TSX:ABX - News) ("Barrick" or "the Company") announced today that it has received confirmation that the Australian Government has no objections under its foreign investment policy to Barrick's proposed acquisition of all of the issued and outstanding common shares (the "Equinox Shares") of Equinox Minerals Limited (TSX:EQN - News)(ASX:EQN - News) ("Equinox"). This confirmation has been obtained in connection with the previously announced offer (the "Offer") by Barrick's wholly-owned subsidiary, Barrick Canada Inc. (the "Offeror"), to acquire, subject to the terms and conditions of the Offer, all of the Equinox Shares at a price of C$8.15 per Equinox Share." More
- May 10, 2011 | Item | ShareThis

Northgate Minerals Announces Retirement of President and CEO Ken Stowe - "Northgate Minerals Corporation ("Northgate" or the "Company") (TSX:NGX.to - News) (NYSE Amex: NXG) today announced that its President and Chief Executive Officer (CEO), Ken Stowe, intends to retire on the appointment of his successor. Mr. Stowe joined Northgate in 1999 and has been CEO since 2001. Mr. Stowe shared his retirement plans now to provide ample time to complete the recruitment and hiring process. A search will be conducted with the goal to select and transition to a new President and CEO by the end of 2011. The Board has designated the Corporate Governance and Compensation Committee, chaired by Mark Daniel, to oversee a comprehensive search process to identify Ken's successor, taking both internal and external candidates into consideration." More
- May 10, 2011 | Item | ShareThis

Northgate Minerals Reports First Quarter Results - "First quarter production was highlighted by an excellent performance at Kemess South, as the mine wrapped up with higher gold and copper production than forecast" commented Ken Stowe, President and CEO. "While production at our Australian mines came in lower than plan, we are pleased to report that our guidance remains the same for the year as both mines are forecasting higher production for the balance of 2011. On the development front, we are excited with the excellent progress being made at Young-Davidson, as the project remains on schedule and on budget." More
- May 10, 2011 | Item | ShareThis

Newmont Signs Agreement with Indonesia's Central Government for Sale of Final Divestiture Stake - "Newmont Mining Corporation (NYSE:NEM - News) ("Newmont" or the "Company") announced that a definitive agreement was signed on Friday, May 6, 2011 between its subsidiary and an agency of the Indonesian Government's Ministry of Finance for the sale and purchase of the final 7% divestiture stake in PT Newmont Nusa Tenggara ("PTNNT"), as required under the terms of PTNNT's Contract of Work with the Indonesian Government. PTNNT operates the Batu Hijau copper and gold mine in Indonesia." More
- May 10, 2011 | Item | ShareThis

Gibraltar Reserves Increase 80% to 802 Million Tons - "Taseko Mines Limited (TSX:TKO.to - News) (NYSE Amex: TGB) ("Taseko" or the "Company") announces an 80% increase in mineral reserves from 445 million tons to 802 million tons at its Gibraltar Copper-Molybdenum mine near Williams Lake, British Columbia." More
- May 10, 2011 | Item | ShareThis

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