Gold Seeker Closing Report: Gold Ends Higher and Silver Surges Almost 4%

	Close	Gain/Loss
Gold	$1526.30	+$3.10
Silver	$37.62	+$1.42
XAU	205.04	+1.19%
HUI	542.24	+0.81%
GDM	1584.20	+0.85%
JSE Gold	2623.34	+16.96
USD	75.91	+0.02
Euro	140.83	-0.20
Yen	121.96	-0.12
Oil	$101.32	+$1.73
10-Year	3.129%	+0.006
T-Bond	125.0625	-0.21875
Dow	12394.66	+0.31%
Nasdaq	2761.38	+0.55%
S&P	1320.47	+0.32%

Gold climbed to as high as $1532.19 before it fell back off a bit in late trade, but it still ended with a gain of 0.2%. Silver climbed to as high as $37.89 and ended with a gain of 3.92%.

Euro gold climbed to a new all-time high above €1083, platinum lost $10.25 to $1774.50, and copper climbed 9 cents to about $4.10.

Gold and silver equities rose over 1% by late morning and remained near that level for the rest of the day.

Report	For	Reading	Expected	Previous
MBA Mortgage Index	5/20	1.1%	-	7.8%
Durable Orders	April	-3.6%	-2.0%	4.4%
Durable Orders ex trans.	April	-1.5%	0.6%	2.5%
FHFA Housing Price Index	March	0.3%	-	-1.5%

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 5/21 expected at 400,000 and first quarter GDP expected at 2.0%. The GDP Deflator is expected at 1.9%.

Oil climbed above $101 a barrel after the Energy Information Administration reported that crude inventories rose 600,000 barrels, gasoline inventories rose 3.8 million barrels, and distillates fell 2.0 million barrels.

The U.S. dollar index waffled near unchanged on uncertainty over Greece’s debt crisis.

Treasuries rose after today’s $35 billion 5-year note auction sold at a high yield of 1.813% with a bid to cover of 3.2.

The Dow, Nasdaq, and S&P reversed early losses and ended higher on a rebound in commodities.

Among the big names making news in the market today were Costco, AIG, California Pizza Kitchen, Polo Ralph Lauren, and Zynga.

“It is perhaps a bit premature to jump to conclusions but today's price action in the overall commodity sector seems to be signaling that a subtle shift is occurring in the minds of some investors in regards to the Fed and the upcoming end to QE2 at the end of next month.

Fed governor Bullard might have been the one who got the ball rolling by his comments from yesterday when he stated that there would more than likely be no monetary tightening until later next year. That put a firm bid under many commodity markets and kicked some of them strongly higher yesterday. It also seemed to pull the Dollar down somewhat from its best levels of the session even while it was supported by an aversion to the Euro based on the woes in Euroland.

Today we are seeing a sharp rise in the CCI (Continuous Commodity Index) which has taken it up past that key 640 level that I am closely monitoring. We are also seeing the Dollar unable to push higher. With money flows coming back into the commodity sector, it comes as no surprise that those markets which led the sector lower are now leading the sector higher. That is why silver is so strong this morning. Also, crude oil is trading closer to $101.

What might be happening is that investors are looking at the ugly chart pattern forming on the S&P and seeing this recent near-collapse in commodity prices and putting two and two together. What I mean by that is they are thinking that while the come-down in commodity prices, notably energy and some foods has been welcome, no one wants to see a collapse of the magnitude of 2008. It was not that long ago when I posted a comment here at my site and wondered whether a deflationary mindset was creeping back in. That word, "deflation", sends dread and fear running down the backs of Chairman Bernanke. Bernanke will not let such a mindset get firmly established.

With fears of a slowdown in growth for the emerging markets, and a concern that recent US economic data has been weak, traders are beginning to suspect that the doves at the Fed are going to have their way and that some sort of stimulus is going to be forthcoming from the Fed. Keep in mind that the Fed views as part of its mandate, growth in employment. With this sort of data coming out and with the thinking in connected circles that the sharp fall in commodity prices has taken the wind out of the inflation genie for the short term, the Fed now has room to come up with some sort of stimulus, whether that be another round of QE or something else.

Again, one day does not a trend make but I do find it noteworthy to see the extent of the money flows coming back into the commodity sector today. That would not be occurring unless traders believed that the Fed was going to shift gears and perhaps become more accommodative. It could be that the consensus is that the Fed overshot it to the upside the first time around, then overshot it to the downside by sounding too hawkish of late and now may be trying to find a happy medium.

Either way, for today at least, watching copper moving up nearly 2.5%, enough traders think that something friendly is coming down the pike and is paving the way for "risk trades" to return.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/

COMEX Gold Trust (IAU) Total Tonnes in Trust: 136.18: +0.82 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,085.42: -51.57 change from yesterday’s data.

Claude’s (CGR) drill results, NovaGold’s (NG) AGM and Integrated Report, Brigus Gold’s (BRD) letter of intent, Almaden’s (AAU) drill results, Aurizon’s (AZK) drill results, Eldorado’s (EGO) changes to the Board of Directors and Executive Management team, and Coeur’s (CDE) safety awards 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.

Premium Exploration: Exploration Update along 30 Km Emerging Gold District - More
- May 25, 2011 | Item | ShareThis

Star Gold Receives Preliminary Approval to Drill Longstreet Project From United States Forest Service - More
- May 25, 2011 | Item | ShareThis

NQ Exploration Completes Second and Final Closing of Private Placements for $198,000 - More
- May 25, 2011 | Item | ShareThis

Sirios Resources Inc.: Diamond Drilling on the High Grade Silver Pontax Property, James Bay, Quebec - More
- May 25, 2011 | Item | ShareThis

Homeland Uranium Inc. Raises $150,000 - More
- May 25, 2011 | Item | ShareThis

White Pine to Commence Exploration in Yukon's White Gold District - More
- May 25, 2011 | Item | ShareThis

American Energy Fields Issues Shareholder Letter - More
- May 25, 2011 | Item | ShareThis

Goldstone Resources Inc. Announces the Filing of 2011 Interim Consolidated Financial Statements (Unaudited), MD&A, and Officers' Certifications - More
- May 25, 2011 | Item | ShareThis

Yale Accelerates Purchase of the Orofino Gold/Silver Property - More
- May 25, 2011 | Item | ShareThis

Big Red Diamond Corporation: Name Change-Shareholders Approval - More
- May 25, 2011 | Item | ShareThis

Duncan Park Updates Status of Exploration - More
- May 25, 2011 | Item | ShareThis

Gryphon Gold Exercises Option to Reduce Royalty Obligations on the Borealis Project - More
- May 25, 2011 | Item | ShareThis

Advanced Explorations Files Updated Resource Report on Roche Bay Iron Project - More
- May 25, 2011 | Item | ShareThis

Riverstone Starts Major Drill Program at Yaramoko and Reports Additional Gold Assays From Bissa West - More
- May 25, 2011 | Item | ShareThis

Trelawney Provides Update on Chester Properties - More
- May 25, 2011 | Item | ShareThis

Lithium Exploration Group Provides Operational Update - More
- May 25, 2011 | Item | ShareThis

Central Announces $750,000 Financing - More
- May 25, 2011 | Item | ShareThis

Andina Drills 266 m at 1.00 g/t Au, Including 56 m at 2.6 g/t Au at Ojo De Agua East - More
- May 25, 2011 | Item | ShareThis

Nuinsco Provides Update on Status of Receivership Proceedings With Respect to Assets Formerly Owned by Campbell Resources Inc. - More
- May 25, 2011 | Item | ShareThis

Argentex Drills 5.76 Meters Grading 675.7 g/t Ag and 5.99 g/t Au Within Oxide Zone at 100% Owned Pinguino Project, Argentina - More
- May 25, 2011 | Item | ShareThis

Abcourt Mines: Hole AB11-24 Drilled at Abcourt-Barvue Intersected 4.9 Meters Grading 300.99 Grammes of Silver Per Tonne and 3.05% Zinc - More
- May 25, 2011 | Item | ShareThis

Soho Resources Corp. Reports First Assay Results From Surface and Underground Sampling From Jocuixtita Silver Project - More
- May 25, 2011 | Item | ShareThis

Golden Share Compilation Shows 10.16 g/t Au Over 10.50 m Open at Depth on Berens River, Ontario, Canada - More
- May 25, 2011 | Item | ShareThis

Talison Lithium Reports Positive Results From Initial Drill Program at Salares 7 Project - More
- May 25, 2011 | Item | ShareThis

Exploration Update on Eagle Mountain, Guyana Gold Project - More
- May 25, 2011 | Item | ShareThis

Terra Firma Identifies High Grade Copper Mineralization on it's Malawa Property in South Sulawesi, Indonesia - More
- May 25, 2011 | Item | ShareThis

Anglo Swiss Appoints Natasha Blackburn as Vice President, Corporate Development - More
- May 25, 2011 | Item | ShareThis

Vantex Intersects 32.9 g/t Au Over 4 Metres on Galloway-Moriss Zone - More
- May 25, 2011 | Item | ShareThis

Duncastle Commences Drilling at Porphyry Creek - More
- May 25, 2011 | Item | ShareThis

International Lithium Corp. Listing Date - More
- May 25, 2011 | Item | ShareThis

Papuan Precious Metals Corporation: Sampling Returns Values as High as 69.9 g/t Au, 84.6 g/t Ag and 14.5% Cu in Outcrop from Waria River Prospect - More
- May 25, 2011 | Item | ShareThis

Quest Reviews Rare Earth Element Mineralogy and Metallurgy of the B-Zone Deposit, Strange Lake, Quebec - More
- May 25, 2011 | Item | ShareThis

North Arrow Announces Exploration Drill Program at Hammer Property, Nunavut - More
- May 25, 2011 | Item | ShareThis

Atna Drills 100 Feet (30.5 m) Grading 0.058 oz/ton Gold (1.97 g/t) - More
- May 25, 2011 | Item | ShareThis

Excelsior Commences Hydrological Program - More
- May 25, 2011 | Item | ShareThis

Southern Arc Intersects a Wide Interval of Bonanza Gold Grades From Its Phase 2 Drilling of Pelangan Prospect, West Lombok, Including 17.4m @ 19.4g/t Au - More
- May 25, 2011 | Item | ShareThis

Latin American Minerals' Paso Yobai Project Advances With Additional High Grade Gold Intersections and Continuing Plant Construction - More
- May 25, 2011 | Item | ShareThis

Pacific Ridge Mariposa Program Starts in White Gold District - More
- May 25, 2011 | Item | ShareThis

Grandview Gold Inc. Signs Drill Contract; Plans to Verify Historic Red Lake Resource - More
- May 25, 2011 | Item | ShareThis

Everton Signs Letter of Intent To Buy Remaining Interest in Ampliacion Pueblo Viejo and Two Other Dominican Republic Properties from Brigus Gold - More
- May 25, 2011 | Item | ShareThis

Orbite Produces Its First Aluminum from Cap-Chat Alumina - More
- May 25, 2011 | Item | ShareThis

Avion to Release 2011 First Quarter Financial Results and MD&A on June 2, 2011 - More
- May 25, 2011 | Item | ShareThis

Northair Intersects 9.35 Metres of 628.7 g/t Silver at La Cigarra Project, Mexico - More
- May 25, 2011 | Item | ShareThis

Roxgold to Drill Yaramoko Concession; Receives Additional Gold Assays from Bissa West Concession, Burkina Faso, West Africa - More
- May 25, 2011 | Item | ShareThis

Goldgroup Cuts Additional 100-Plus Metre Intercepts of Oxide Gold at Caballo Blanco, Mexico - More
- May 25, 2011 | Item | ShareThis

Nevada Copper Steps Out and Drills 126 Feet of 1.26% Copper/Definitive Feasibility Update - More
- May 25, 2011 | Item | ShareThis

ECPN to Conduct Annual Stockholder’s Meeting and to Add Live Stock Quotes and Message Board to Web Site - More
- May 25, 2011 | Item | ShareThis

Bellhaven's Second Drill Hole at the Caracucho Prospect, Pitaloza, Panama, Delivers 0.98 g/t Gold and 0.46% Copper (1.76 g/t Gold Equiv.) Over 50 Meters - More
- May 25, 2011 | Item | ShareThis

Northern Gold More Than Triples Land Holdings at and Near Its 100% Owned Garrison Gold Property - More
- May 25, 2011 | Item | ShareThis

Goldrush Intersects 2.60 g/t Gold Over 12 Metres and 1.93 g/t Gold Over 12 Metres in North Zone Drilling at Ronguen Gold Deposit, Burkina Faso - More
- May 25, 2011 | Item | ShareThis

Golden Reign Resources Ltd.: New Gold Zone Extended to 600 Metres Along Strike, Returns 5.3 Metres Grading 48.28 g/t Gold and 20.98 g/t Silver - More
- May 25, 2011 | Item | ShareThis

Metals Creek Resources Corp. Completes Diamond Drill Program on the Tillex Copper Project - More
- May 25, 2011 | Item | ShareThis

NioGold and Aurizon Report - More
- May 25, 2011 | Item | ShareThis

U3O8 Corp's Drilling Confirms Consistent Uranium, Vanadium, Phosphate & Rare Earth Mineralization Extending Over 2.5km in the Berlin Project, Colombia - More
- May 25, 2011 | Item | ShareThis

Yukon-Nevada Gold Corp. Announces First Quarter Results for 2011 - More
- May 25, 2011 | Item | ShareThis

Galore Proposes to Extend Warrants - More
- May 25, 2011 | Item | ShareThis

StoneShield Commences Exploration at the Geldenhoof Gold Project, Blackwater District, BC - More
- May 25, 2011 | Item | ShareThis

Capstone Reports First Quarter 2011 Financial Results - More
- May 25, 2011 | Item | ShareThis

Claude Resources Intercepts 84.66 g/tonne Gold Over 3.20 Metres at Neptune - "("Claude") today announced that follow-up drilling at the Neptune target within the Seabee Project has intersected high-grade gold within multiple structures with assay results of up to 84.66 grams of gold per tonne across 3.20 metres or 2.47 ounces per ton across 10.5 feet. The 2011 winter drill program confirmed the gold-bearing structure over a strike length of 1,200 metres to depths in excess of 250 metres and, when combined with drilling completed in 2010, indicates strong potential to grow the resource base at the Seabee Project." More
- May 25, 2011 | Item | ShareThis

NovaGold Publishes First Integrated Report and Hosts Interactive AGM Today - "NovaGold Resources Inc. (TSX:NG - News)(AMEX:NG - News) continues to enhance accessibility and expand on traditional reporting formats by hosting a live-broadcast of its Annual General Meeting on May 25, 2011 starting at 2pm PST (5pm EST) and releasing its first Integrated Report." More
- May 25, 2011 | Item | ShareThis

Coeur Garners Five Top Safety Awards for Company's National and International Operations - "Coeur d’Alene Mines Corporation (NYSE:CDE - News) (TSX:CDM.to - News) today announced that it has again been recognized by the International Society of Mine Safety Professionals with five national and international safety awards for its operations in North and South America." More
- May 25, 2011 | Item | ShareThis

Brigus Gold Agrees to Sell Remaining Interest in Dominican Republic Properties to Everton Resources - "Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD) (TSX:BRD.to - News) announces that the Company has signed a letter of intent with Everton Resources Inc. (“Everton”) whereby Everton will acquire Brigus’ remaining interest in the Ampliacion Pueblo Viejo (APV), Ponton and La Cueva concessions in the Dominican Republic (“the Concessions”)." More
- May 25, 2011 | Item | ShareThis

Drilling Intersects 0.88 g/t Gold Over 100.10 Meters At Almaden's Caballo Blanco Project, Mexico - "Almaden Minerals Ltd. ("Almaden" or "the Company")(TSX:AMM - News)(NYSE:AAU - News) is pleased to report to its shareholders the results contained in a news release of Goldgroup Mining Inc. (TSX:GGA - News) ("Goldgroup"; see Goldgroup news release of May 25, 2011) in which Goldgroup announced the intersections tabularised below from the La Paila Zone of the Caballo Blanco Project and highlighted by the following intercepts:" More
- May 25, 2011 | Item | ShareThis

Aurizon Reports Further Results From Marban Block - "We are pleased to observe that, in both the Norlartic and Marban mineralized systems, the approach of fence drilling as much as possible of the entire width of the potential structure, has been successful. High grade intervals over pluri-metric widths are now more prominent inside extensive lower grade envelopes and should offer more flexibility in evaluating potential development scenarios." More
- May 25, 2011 | Item | ShareThis

Directors and Senior Management Announcement - "Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (TSX:ELD - News)(NYSE:EGO - News)(ASX:EAU - News) ("Eldorado" the "Company" or "we") announced the following changes to the Board of Directors and Executive Management team." More
- May 25, 2011 | Item | ShareThis

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