Gold and Silver Prices Gain 11 May 2011

Gold and Silver Prices Gain 11 May 2011 : THE GOLD PRICE climbed as much as $15.88 to $1519.08 by a little after 8am EST on Tuesday. It fell back off a bit in early New York trade, but then rallied back higher midday and ended near its earlier high with a gain of 0.9%.

The Euro Gold Price rose to about €1056. Silver Prices surged to as high as $38.703 before dipping a bit, but they still ended with a gain of 3.63%.

Gold Mining and silver equities traded mostly slightly lower and ended with modest losses. Platinum gained $8.50 to $1792.50, and copper gained a few cents to about $4.03.

Gold and Silver news today 11 May 2011

Gold, silver extend gains after China data; oil steady
Gold and silver stretched gains to a fourth day on Wednesday after faster-than-forecast inflation in China boosted their safe-haven appeal and oil edged higher as commodities continued to recover from last week's selldown.Read More...

J.P. Morgan's hunt for Afghan gold
Qara Zaghan, Afghanistan: The four Black Hawk helicopters sweep down on this remote river valley, flying fast and single file. Snow covers the mountains' peaks, but the lower slopes look like rust -- dry, rocky, and bare. As we bank around the river bend, we see our first flash of green in the fields below and then the rectangular mud huts of the village, where hundreds of Afghans mass to greet us.Read More...

Gold, Silver Extend Advance on China’s Inflation, European Debt Concerns
Gold gained for a fourth day in London as concern about inflation and Europe’s debt woes spurred demand for precious metals as a protection of wealth. Silver rose. Read More...

Gold Price Analysis from the Mining Stocks' Perspective
Gold and silver markets appear to be consolidating after a slid in the immediate past. If there is anybody happy in the world about the declines in precious metals it must be Warren Buffett who keeps on buffeting gold at every opportunity. Here is what he said at the recent Berkshire Hathaway’ annual general meeting. You can fondle it, you can polish it, you can stare at it. But it isn’t going to do anything. Gold really doesn’t have utility. I’d bet on a good producing business to outperform something that doesn’t do anything. Read More...

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