Gold, Silver March Despite Positive Retail Sales Report

Gold and silver prices were moving higher in Friday morning trading, even as a
healthy print on September retail sales gave investors a bit more confidence
that the U.S. economy wasnt falling into another black hole. Spot gold briefly
breached the $1,680-per-ounce level early today and was trading at $1,672.50
Bid, $1,673.50 Ask, having hit a high of $1,685 and a low of $1,671.70. The
London p.m. gold fix was set at $1,678 by the London Bullion Market Association
. Spot silver was bid at $32.16 with an ask price of $32.26, having hit a
morning high of $32.65 and a low of $31.94. The reference price for spot
delivery of an ounce of silver was set at $31.82 by the LBMA in the London a.m.
In stock exchange trading, gold and silver trusts were moving up. The SPDR Gold
Trust (NYSE: GLD ) was around 0.25% higher. The iShares Gold Trust (NYSE: IAU )
also was up about 0.25%. The iShares Silver Trust (NYSE: SLV ) was around 1.4%
higher. Gold and silver mining ETFs started the day up strongly. The Market
Vectors Gold Miners ETF (NYSE: GDX ) was more than 1.5% higher. The Market
Vector Junior Gold Miners ETF (NYSE: GDXJ ) was up more than 1.4%. The Global X
Silver Miners ETF (NYSE: SIL ) was some 1.7% higher. Shares of gold miners were
broadly higher, with NovaGold Resources the exception. Agnico Eagle Mines (USA)
(NYSE: AEM ) was around 0.3% higher. Barrick Gold Corp. (NYSE: ABX ) was up
around 1.45%. Goldcorp (NYSE: GG ) was up around 1.4%. Newmont Mining Corp.
(NYSE: NEM ) was some 2% higher. NovaGold Resources (USA) (AMEX: NG ) was off
more than 1.5%. Silver mining shares also were moving higher Friday morning.
Coeur DAlene Mines Corp. (NYSE: CDE ) was 1.6% higher. Hecla Mining (NYSE: HL )
was moving between gains of 1.5% and 1.9%. Pan American Silver Corp. (USA)
(NASDAQ: PAAS ) was around 0.9%. Silver Wheaton Corp. (USA) (NYSE: SLW ) was
showing gains of 2.1%. Silver Standard Resources Inc. (USA) (NASDAQ: SSRI ) was
up around 1.4%. As of this writing, Andrew Burger did not hold a position in any
of the aforementioned investments.