Gold traded mixed and near unchanged in Asia and London before rising up near $470 in early New York trade, but it fell off from there to end near unchanged on the day with only a slight gain.  Silver traded slightly higher in Asia and London before rising up near $7.75 in early New York trade, but it also fell off by the close to end well off its highs with only a modest gain.  Platinum rose to its highest in 25 and ½ years and gained $10 to $953.  Palladium gained $6 to $238 to reach its highest in over 17 months.  Copper made new all-time highs above $1.90 per pound.

Gold and silver equities started off about 1% higher, but they soon dropped off to find about 1% losses and remained slightly lower for the rest of trade to close near their lows of the session.

More Precious Metals Analysis:

“Strong buying out of Asia fueled further gains in precious metals with platinum again leading the complex higher to reach the highest price in 26 years. Active fund buying drove gold and silver higher, but gains were trimmed by the close on profit taking as both metals have seen solid gains this week. For most of the session gold was able to ignore a stronger Dollar and plunging oil prices as the metal has lately been less influenced by outside markets. Instead, good physical demand for gold and recent political violence in France spreading to other European countries combined with the hotel bombings in Jordan this week have raised gold's appear as a safe haven asset.” - The Hightower Report, Futures Analysis and Forecasting

The U.S. dollar index initially fell following the record high trade deficit, but it soon found gains again as traders returned to interest rate rhetoric.  The index made new 23 month highs as the euro fell to new 23 month lows.  The yen fell back near its 26 month lows set last Friday.

Oil started off the day lower and continued to fall after natural gas stocks were announced to have built 61 billion cubic feet which was more than expected.  Mild winter weather, increasing inventories, and easing demand continue to be the dominate themes in the oil market.

Treasuries gained on the economically disappointing record high trade deficit ahead of the $13 billion 10-year note auction that saw great demand and pushed yields even lower.  Foreign demand was seen as especially strong and encouraged the bulls.  The bond market is closed tomorrow in observance of Veteran’s Day.

The Dow, Nasdaq, and S&P started off mixed and near unchanged as traders considered various economic news and company reports, but all three indices turned markedly higher following the treasury auction that saw good foreign demand and pushed interest rates lower.  Oil trading under $58 also encouraged stock market bulls and all three indices ended near their highs of the session with nearly 1% gains.

Among the big names making news in the market today were News Corp, Kohl’s, Dell, Intel, Target, Fannie Mae, Man Group and Refco, General Motors, Yahoo and AOL, Siemen, and ING.

Gold & Silver Stock News Update from GoldReview.com:

3^rd quarter results from Crystallex, Desert Sun and Apollo Gold, Royal Gold’s completion of a strategic alliance with Taranis Resources Inc., Bema’s gold production projections, Placer Dome’s and Kinross Gold’s joint venture with Codelco, Cumberland’s submitted environmental impact study for their Meadowbank Gold Project, Banro’s intersection of significant gold mineralization, and Barrick’s interest in Cerro Casale were among the big stories in the gold and silver mining industry making headlines today.

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More from Charleston Voice:

Subject: Hyperinflation Still in our Future

Being an election year in 2006, we can expect to see an "easing" to re-elect the same scoundrels that have gotten us into this mess. This "generosity" will also launch Bernanke as a "good guy". After the incumbents are re-installed expect to see Fed funds increases along the magnitude of 100 basis points at a crack. 2006 will be the Year of Gold. 

(We are seeing an overanxious near term bullishness for gold and silver which we feel may be pre-mature)

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- Written by Chris Mullen

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

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-- Posted Thursday, 10 November 2005 | Digg This Article