Market Analysis from GoldSeek.com, SilverSeek.com & CapitalUpdates.com:

There were no major economic reports Friday.  This week’s prior economic reports:

Next week’s economic highlights include Leading Economic Indicators for October expected at 0.8% on Monday, FOMC Minutes on Tuesday, and the revised figure for November Michigan Sentiment on Wednesday.

COT Gold Report - November 18, 2005

COT Silver Report - November 18, 2005

Gold traded slightly higher in Asia before rising in London, but it then fell off to trade mixed and near unchanged in New York and ended slightly lower to fall from 17 and ¾ year highs.  Silver traded mostly slightly higher in Asia and London before falling off in late New York trade and ending slightly lower to fall from 19 month highs.  Platinum lost $4 to $972 to fall further from 26 year highs, palladium gained $5 to $260 to make new 18 months highs, and copper made new all-time highs just below $2 a pound.

Gold and silver equities fell about 2% in morning trade Friday before rebounding in the afternoon and closing just slightly lower.

More Precious Metals Analysis:

“The gold market managed to extend the recent gains to another psychologically important level on the charts of $490 and with the rest of the metals markets also managing to rise in sync with the gold it certainly seems like the soaring investment theme is playing to a wider audience. However, the COT report show a moderately overbought condition in the metals and the COT readings themselves are certainly understated given the sharp gains posted in the days following the COT report mark off. The most surprising development in the current rally in metals is that the inflation threat is assumed to be in place even with some inflationary reading muted and the oil market under control.” - The Hightower Report, Futures Analysis and Forecasting

The U.S. dollar index fell off as ECB President Jean-Claude Trichet said that the “European Central Bank is ready to raise interest rates moderately.”  The index fell further from recent 2 year highs, the euro furthered its rebound from 2 year lows, and the yen fell to new 27 month lows.

Oil made new 5 month lows on ample supplies despite larger OPEC demand figures and colder weather in the U.S.

Treasuries fell Friday as traders debated this week’s economic data and Trichet’s interest rate remarks.

The Dow, Nasdaq, and S&P traded mostly higher Friday on merger news and strong earnings reports.  The Dow made new 8 month closing highs and the Nasdaq and S&P made new 4 and ½ year closing highs.

Among the big names making news in the market Friday were Liz Claiborne and J. Jill, Cisco and Scientific-Atlanta, Swiss Re and GE Reinsurance, Alltel and Midwest Wireless, Sanyo, HP, Infineon, and AnnTaylor.

Gold & Silver Stock News Update from GoldReview.com:

Barrick’s settlement with Blanchard, Glencairn’s resumed operations in Nicaragua, Placer Dome’s agreement to joint venture Miranda’s Fuse West property, and Richmont’s $7.5 million offering were among the big stories in the gold and silver mining industry making headlines Friday.

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- Written by Chris Mullen

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

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