Gold, Silver Higher; Coeur D’Alene Shares Surge on Q3 Profit

Gold and silver were moving up sharply Monday morning as Greek Prime Minister
George Papandreou and the loyal opposition party agreed to form an interim
government that should see Greece through the next round of an EU financial aid
package. Meanwhile, Italian bond yields continue to rise as PM Silvio Berlusconi
denied rumors that he was about to resign. Shares of Idahos Coeur dAlene Mines
(NYSE: CDE ) surged more than 7% Monday morning as the company reported a $31.1
million profit (35 cents per share) a drastic turnaround in fortune compared to
its Q3 results of a year ago, when the company posted a loss of $22.6 million,
or 25 cents per share. Coeur DAlenes revenue from gold and silver sales more
than doubled on increased prices and production. Spot gold was up more than 1.5%
as of 10 a.m., having hit a high of $1,783.90 per ounce and a low of $1,771.10
Monday morning. Spot gold was bid at $1,781.20 with an ask price of $1,782.20.
The morning reference price was fixed at $1,764, according to Kitco market data
. Spot silver was moving higher, up 1.9% and trading at $34.78 Bid, $34.88 Ask.
The morning high as of time of writing was $34.95 per ounce, and the low was
$34.39. Thursdays reference price was set at $34.48 in the London a.m. Gold and
silver trusts also were up sharply Monday morning. The SPDR Gold Trust (NYSE:
GLD ) was around 1.5% higher. The iShares Gold Trust (NYSE: IAU ) was around
1.4% higher. The iShares Silver Trust (NYSE: SLV ) was up nearly 1.9%. Gold and
silver miners ETFs were higher as well. The Market Vectors Gold Miners ETF
(NYSE: GDX ) was nearly 1.8% higher. The Market Vector Junior Gold Miners ETF
(NYSE: GDXJ ) was up more than 1.6%. The Global X Silver Miners ETF (NYSE: SIL )
was more than 1.7% higher. Shares of gold miners were showing gains, with
NovaGold Resources (AMEX: NG ) the exception. Agnico-Eagle Mines (USA) (NYSE:
AEM ) was some 3.2% higher. Barrick Gold Corp. (NYSE: ABX ) was nearly 1.8%
higher. Goldcorp (NYSE: GG ) was up nearly 2.8%. Newmont Mining Corp. (NYSE: NEM
) was up more than 2.1%. NovaGold Resources was down around 0.7%. Silver miners
shares were showing strong gains, Coeur dAlene Mines in particular. Coeur dAlene
Mines was about 7.3% higher. Hecla Mining (NYSE: HL ) was up around 2.9%. Pan
American Silver Corp. (USA) (NASDAQ: PAAS ) was between 1.3% and more than 1.6%
higher. Silver Wheaton Corp. (USA) (NYSE: SLW ) was between 1.2% and 1.3%
higher. Silver Standard Resources Inc. (USA) (NASDAQ: SSRI ) was more than 3%
higher. As of this writing, Andrew Burger did not own a position in any of the
aforementioned stocks.