Gold Seeker Closing Report: Gold and Silver End Slightly Higher

The Metals:

Gold climbed up to $1646.71 in Asia before it fell back to $1631.42 in London and the rose to a new session high of $1653.50 by about 10AM EST, but it then fell back off midday and ended with a gain of just 0.09%.Silver surged to as high as $32.02 before it also fell back off in late trade, but it still ended with a gain of 0.41%.

Euro gold fell to about €1249, platinum gained $2.50 to $1574.50, and copper remained at about $3.63.

Gold and silver equities rose about 1% at the open before they fell back off midday, but they ended with only minor losses.

The Economy:

There are no major economic reports due out tomorrow.

The Markets:

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

Oil fell and treasuries rose on poor economic data that sent the Dow, Nasdaq, and S&P lower.The U.S. dollar index fell slightly as the euro closed higher following Spain’s mostly successful bond auction.

Among the big names making news in the market today were Cisco, Verizon, Morgan Stanley, Human Genome, and Bank of America.

GATA Posts:

'Get your gold out of Dodge' while helping GATA

GoldSeek Radio interviews GATA Chairman Murphy

Patrick Heller: Gold and silver price suppression is now a weekly event

GoldSeek Radio interviews Eric Sprott

The Statistics:

As of close of business: 4/18/2012

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.17: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,636.69: No change from yesterday’s data.

The Miners:

Entree Gold’s (EGI) operations in Mongolia, Freeport’s (FCX) first-quarter profit, Eurasian’s (EMXX) new regional exploration initiative, Timberline’s (TLR) increase to its National Instrument 43-101 compliant gold resource estimate, Golden Star’s (GSS) preliminary first quarter 2012 production results, U.S. Silver’s (USA.TO) update, and SilverCrest’s (SVL.V) first quarter production were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

- Chris Mullen, Gold Seeker Report

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Additional Resources for today’s Gold Seeker Report can be found:

• http://www.capitalupdates.com
• http://www.goldseek.com
• http://www.silverseek.com
• http://www.goldreview.com

©Gold Seeker 2012

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