Gold Seeker Closing Report: Gold and Silver End Mixed

	Close	Gain/Loss
Gold	$1507.30	+$6.50
Silver	$34.94	-$0.49
XAU	196.59	-0.27%
HUI	520.14	-0.74%
GDM	1515.20	-0.63%
JSE Gold	2531.61	-28.77
USD	75.21	-0.10
Euro	142.37	+0.40
Yen	123.60	+0.23
Oil	$98.97	+$0.76
10-Year	3.230%	+0.073
T-Bond	123.8125	-0.59375
Dow	12695.92	+0.52%
Nasdaq	2863.04	+0.63%
S&P	1348.65	+0.49%

Gold rose $5.05 to $1505.85 in Asia before it fell to as low as $1478.10 by about 7AM EST, but it then rallied back higher into the close and ended with a gain of 0.43%. Silver climbed almost 1% to $35.76 in Asia before it fell back to $32.315 in London, but it then rallied back higher in New York and ended with a loss of just 1.38%.

Euro gold rose over €1066, platinum lost $8.25 to $1765.25, and copper gained 6 cents to about $3.97.

Report	For	Reading	Expected	Previous
Initial Claims	5/07	434K	423K	478K
Retail Sales	Apr	0.5%	0.6%	0.9%
Retail Sales ex-auto	Apr	0.6%	0.5%	1.2%
PPI	Apr	0.8%	0.5%	0.7%
Core PPI	Apr	0.3%	0.2%	0.3%
Business Inventories	Mar	1.0%	0.%	0.7%

Tomorrow at 8:30AM EST brings CPI for April expected at 0.4% and Core CPI expected at 0.1%. At 9:55 is Michigan Sentiment for May expected at 69.5.

Oil rose as the U.S. dollar index reversed early gains and ended lower after a European Central Bank policymaker made some hawkish commentary.

Treasuries fell as the Dow, Nasdaq, and S&P reversed early losses and ended higher on a rebound in commodities. Today’s 30-year note auction drew a high yield of 4.38% with a bid to cover of 2.43.

Among the big names making news in the market today were Takeda and Goldman Sachs.

“Here in the US, it is only natural for us to view the price of gold in US Dollar terms. We forget however that the gold market is an international one. As such it is impacted by events taking place outside of our country.

As said many times before on both this site and my writings at Jsmineset.com, drawing conclusions on the gold market based SOLELY off of its US Dollar priced chart is a huge mistake.

With that in mind, note how firmly the price of gold is holding when priced in Euros. It is staying within a fraction of its all time high as buyers on the Continent are extremely concerned about the sovereign debt issues that refuse to go away in that quarter of the globe. While some here dismiss its role as a safe haven, it is evident from its Euro priced chart that it is continuing to function just as that in the minds of many Europeans.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.909 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 136.39: +0.72 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,540.48 -45.51 change from yesterday’s data.

Rubicon’s (RBY) drill results, SEMAFO’s (SMF.TO) drill results, Gammon Gold’s (GRS) first quarter results, Aurizon’s (AZK) first quarter results, Taseko’s (TGB) put options, MAG Silver’s (MVG) favorable unanimous ruling, Silver Quest’s (SQI.V) agreement, and Silvercorp’s (SVM) dividend 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.

OJVG Announces Resource Update, New Drill Results and Additional Mineral Potential - More
- May 12, 2011 | Item | ShareThis

Sirios Resources Inc.: Private Placement Announcement and Grant of Stock Options - More
- May 12, 2011 | Item | ShareThis

Leeward Capital Announces Nithi Mountain 3D Drill Tour, Project Update - More
- May 12, 2011 | Item | ShareThis

ICN Acquires New Nevada Project - More
- May 12, 2011 | Item | ShareThis

THEMAC Resources Group Assembles World Class Management Team for Copper Flat Project in New Mexico - More
- May 12, 2011 | Item | ShareThis

First Uranium Corporation - BUSINESS MILESTONES UPDATE - More
- May 12, 2011 | Item | ShareThis

North Arrow Grants Stock Options - More
- May 12, 2011 | Item | ShareThis

San Gold Corp to Release First Quarter Financial and Operating Results - More
- May 12, 2011 | Item | ShareThis

Puma Exploration to Optimize Market Exposure and Deepen its Financial Network - More
- May 12, 2011 | Item | ShareThis

Romios Acknowledges Canadian Environmental Assessment Agency Approval of Northwest Transmission Line Power Project - More
- May 12, 2011 | Item | ShareThis

Mountain Boy Minerals Ltd.: Active Exploration Season Planned for 2011 - More
- May 12, 2011 | Item | ShareThis

Crazy Horse Acquires Port Facility - More
- May 12, 2011 | Item | ShareThis

Eagle Plains/Bluefire Enter into Option Agreement on K-9 Project, South-Eastern British Columbia - More
- May 12, 2011 | Item | ShareThis

Uragold Starts Sampling the McDonald and Moe River Gold Properties - More
- May 12, 2011 | Item | ShareThis

Golden Share and Lake Shore Gold Corp. Fix Terms of Asset Acquisition - More
- May 12, 2011 | Item | ShareThis

Abcourt Mines Inc.: The Dewatering of The Elder Mine Was Started at the Beginning of May - More
- May 12, 2011 | Item | ShareThis

Inmet to Host Las Cruces Trip in May - More
- May 12, 2011 | Item | ShareThis

MetalCORP Announces Completion of Pickle Lake Drilling and Discovery of Two New Gold and Copper Mineralized Zones - More
- May 12, 2011 | Item | ShareThis

Forsys Metals Corp.: Proposed Changes to Namibian Mineral Policy Will Not Affect Forsys Interests - More
- May 12, 2011 | Item | ShareThis

Arrowhead Business and Investment Decisions Publishes Due Diligence and Valuation Report Update on South Boulder Mines Limited - More
- May 12, 2011 | Item | ShareThis

Otish Energy Commences Phase II Work Program on Puruni Gold Project, Guyana - More
- May 12, 2011 | Item | ShareThis

Rio Alto Mining Limited Announces Appointment of Ram Ramachandran to Board of Directors - More
- May 12, 2011 | Item | ShareThis

Silver Sun Acquires Additional Interest in Cherry Hill Gold Mine - More
- May 12, 2011 | Item | ShareThis

Zenyatta Ventures Ltd,; Motion for Injunction by First Nation Community Adjourned to May 20 While Drilling Continues - More
- May 12, 2011 | Item | ShareThis

Bayfield Drills 7.60m of 5.70 G/T Au and 24.27 G/T Ag Within 22.35m of 2.38 G/T Au and 16.42 G/T Ag in Rainy River, NW Ontario - More
- May 12, 2011 | Item | ShareThis

Gold-Ore Provides Exploration Update - More
- May 12, 2011 | Item | ShareThis

OPEL Proposing New Directors and Other Governance Information - More
- May 12, 2011 | Item | ShareThis

Integra Gold Provides Corporate Update - More
- May 12, 2011 | Item | ShareThis

Carpathian Advancing the RDM Gold Project, Brazil and Provides an Update on Activities - More
- May 12, 2011 | Item | ShareThis

Otterburn Grants Incentive Stock Options - More
- May 12, 2011 | Item | ShareThis

NV Gold Reports Increase in Gold Resource at Afgan-Kobeh - More
- May 12, 2011 | Item | ShareThis

Highbank Resources Ltd.: 2000 Meters of HQ Drilling Targeted for Chataway Creek and Zone Blocks - More
- May 12, 2011 | Item | ShareThis

Magellan Minerals Drills 24m @ 4.06 g/t Gold at Eastern Extension to Moreira Gomes Deposit, Cuiu Cuiu Project, Brazil - More
- May 12, 2011 | Item | ShareThis

Vantex Hires SRK Consulting - More
- May 12, 2011 | Item | ShareThis

Pershimco Completes a $ 3M Financing - More
- May 12, 2011 | Item | ShareThis

Cap-Ex Ventures Ltd.: Airborne Gravity Survey Underway at Block 103 & Redmond - More
- May 12, 2011 | Item | ShareThis

Uranium Resources, Inc. Receives Exploration Permit for Los Finados Project in South Texas - More
- May 12, 2011 | Item | ShareThis

Fjordland Purchases Exploration Data for Parts of Its Milligan Claims, BC - More
- May 12, 2011 | Item | ShareThis

Gold Bullion Drills 80 Metres of 1.36 Grams Per Tonne Gold - More
- May 12, 2011 | Item | ShareThis

General Moly Provides Project Update - More
- May 12, 2011 | Item | ShareThis

Talison Lithium Reports Fiscal 3Q 2011 Results Including Record Revenue, Earnings and Cash Flow - More
- May 12, 2011 | Item | ShareThis

Quaterra Acquires Butte Valley Copper Prospect in Nevada - More
- May 12, 2011 | Item | ShareThis

Pacific Coast Nickel Receives NI 43-101 Resource Estimate of the Las Aguilas Project, San Luis Province, Argentina - More
- May 12, 2011 | Item | ShareThis

Gold Standard Acquires Leases Adjacent to Railroad Property From Newmont - More
- May 12, 2011 | Item | ShareThis

Southern Arc Minerals Inc.: High Gold Grades Intersected and Depth Potential Confirmed by First Drill Holes from 2011 Program at Pelangan Prospect, West Lombok - More
- May 12, 2011 | Item | ShareThis

TNR Gold Corp.: International Lithium Corp. Spin-Out Record Date Set - More
- May 12, 2011 | Item | ShareThis

Douglas Lake Expands Geophysical Surveys at Magambazi and Kwandege - More
- May 12, 2011 | Item | ShareThis

Anglo Swiss Appoints David Constable as CEO - More
- May 12, 2011 | Item | ShareThis

Hondo Minerals Will Begin Sampling its Newly Acquired Properties with Plans to Expand Production - More
- May 12, 2011 | Item | ShareThis

Northair Gains New Partner in Sierra Rosario Project, Mexico - More
- May 12, 2011 | Item | ShareThis

Radisson Mining Closes Financing with the MineralFields Group - More
- May 12, 2011 | Item | ShareThis

Glass Earth Gold Announces Significant High Grade Gold Results From 'WKP-West', Waihi, New Zealand - More
- May 12, 2011 | Item | ShareThis

Sunridge Gold Announces Termination of Antofagasta Exploration Option Agreement, Asmara Project, Eritrea - More
- May 12, 2011 | Item | ShareThis

Northern Rand Enters Into Definitive Agreement to Acquire Orion Resources N.V. - More
- May 12, 2011 | Item | ShareThis

Victoria Gold Announces Updated Cove Resource Estimate - More
- May 12, 2011 | Item | ShareThis

Fjordland Exploration Inc.: Drilling at Woodjam North (Deerhorn Zone) Intersects 160.3 m Grading 1.03g/t Gold and 0.25% Copper, Including 39.6 m Grading 2.07g/t - More
- May 12, 2011 | Item | ShareThis

Uranium Energy Corp to Acquire a Large Uranium Project in Paraguay - More
- May 12, 2011 | Item | ShareThis

Formation Metals Idaho Cobalt Mine Construction on Track for Q2, 2011 - More
- May 12, 2011 | Item | ShareThis

Auryx Gold Confirms a Significant New Zone of Mineralization at the Otjikoto Gold Project in Namibia - More
- May 12, 2011 | Item | ShareThis

Bellhaven Files NI 43-101 Technical Report for the La Mina Porphyry Gold-(Copper) Project, Colombia - More
- May 12, 2011 | Item | ShareThis

Willow Creek Receives Permits for Drilling on Hercules Gold & Silver Property - More
- May 12, 2011 | Item | ShareThis

NioGold Expands Drilling Activities to Explore Siscoe East in Val-d'Or - More
- May 12, 2011 | Item | ShareThis

Gold Hawk Intercepts 25 Feet of 4.63% Copper, 1.25 opt Silver at Oracle Ridge - More
- May 12, 2011 | Item | ShareThis

Pretivm Reports Positive Metallurgical Results at Brucejack - More
- May 12, 2011 | Item | ShareThis

Rubicon Minerals Updates '9X' Drill Results From the F2 Gold System, Phoenix Gold Project, Red Lake, Ontario - "Rubicon Minerals Corporation (TSX:RMX.to - News) (NYSE:RBY - News) (AMEX:RBY - News) is pleased to provide an update on its underground '9X' exploration drill program being carried out on the F2 Gold System, at its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. The '9X' exploration program is designed to test new targets, at nominal drill spacing of approximately 100 metres, beyond the limits of current delineation drilling (Figures 1 and 2). These results form part of an ongoing 40,000 metre program of which approximately 10,000 metres remain to be completed." More
- May 12, 2011 | Item | ShareThis

SEMAFO Further Expands Mana's Wona SW Zone Results Include 4.17 g/t Au Over 32 Meters - "SEMAFO (TSX:SMF - News) announced today that recent drilling over the Wona SW zone demonstrates multiple opportunities to further expand underground reserves from those reported in the Mana Underground Feasibility Study. Core drilling values including hole WDC256, which returned 4.17 g/t Au over 32 meters in an area formerly expected to be outside the mineralized zone. Furthermore, results from the in-progress infill drilling program over the Kona open pit area confirmed ore distribution." More
- May 12, 2011 | Item | ShareThis

MAG Provides Update on Favourable ICC Arbitration Decision and Corrects Inaccuracies Disseminated by Fresnillo - "MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG" or the "Company") - On May 5, 2011, MAG announced that it had received the favourable unanimous ruling of a three member arbitral panel of the International Court of Arbitration of the International Chamber of Commerce ("ICC") with respect to the arbitration proceedings commenced in Mexico against its joint venture partner, Fresnillo plc ("Fresnillo"). MAG has now received a complete translation of the ICC award and wishes to provide the following further details." More
- May 12, 2011 | Item | ShareThis

Silver Quest Announces Amended Terms to Tsacha Agreement, 3Ts Project, BC - "Silver Quest Resources (TSX-V:SQI - News) ("Silver Quest" or "the Company") is pleased to announce that an agreement has been reached with Teck Resources Limited ("Teck") to amend the terms of a property option agreement dated April 2, 2002. Pursuant to that agreement Teck granted the Company the sole and exclusive right and option to acquire an undivided 100% right, title and interest in and to five mineral tenures located in the Omineca Mining Division of British Columbia (the "Tsacha Property"). Silver Quest's acquisition of Teck's interest in the Tsacha Property was subject to a two-tier net smelter return ("NSR") royalty (which at present gold prices, range from a minimum of 4.0% to a maximum of 4.5% payable on all metals produced) as well as a back-in right reserved to Teck on the Tsacha Property and adjacent lands held by the Company." More
- May 12, 2011 | Item | ShareThis

Gammon Gold Reports First Quarter Financial Results, Including Record Operating Cash Flow and Net Free Cash Flow at Ocampo - "Gammon concluded the first quarter on plan, with Ocampo delivering record underground production, record profit margins, record operating cash flow and record net free cash flow. The Company now operates three wholly owned gold mines and two advanced development projects in Mexico that is expected to underpin the Company's peer-leading growth targets in 2011 and beyond." More
- May 12, 2011 | Item | ShareThis

Aurizon Reports First Quarter 2011 Results - "We continued to generate strong cash flow, fund aggressive exploration programs, and improve our financial capacity in the first quarter despite operational issues at Casa Berardi." said David Hall, President and Chief Executive Officer. "As previously indicated the Casa Berardi mine plan had projected that the first quarter would be the weakest in terms of throughput, grade and ounces produced. We anticipate that operational and financial performance will strengthen going forward, particularly in the second half of the year. We have been very active on exploration at Casa Berardi, Joanna, Marban and Fayolle with encouraging results. We look forward to commencing our summer exploration programs at Rex South, Opinaca, Wildcat and Duverny during the second quarter of this year." More
- May 12, 2011 | Item | ShareThis

Silvercorp Announces Fourth Quarter Dividend of CAD$0.02 - "Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM - News)(NYSE:SVM - News) today announced that its Board of Directors has declared its fourth quarter fiscal 2011 dividend of CAD$0.02 per share, to be paid on or before July 21, 2011 to shareholders of record at the close of business on June 30, 2011. The dividends are considered eligible dividends for Canadian tax purposes." More
- May 12, 2011 | Item | ShareThis

Taseko Purchases Put Options on 2011 Copper Production - "Taseko Mines Limited (TSX:TKO.to - News) ("Taseko" or the "Company") has purchased put options on its remaining 2011 copper production to protect its minimum 2011 revenue stream." More
- May 12, 2011 | Item | ShareThis

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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.