WORLD GOLD INDICES

Gold Seeker Weekly Wrap-Up: Gold & Silver Gain Over 1% on the Week By: Chris Mullen, Gold Seeker Gold traded mostly slightly higher in Asia and London and then dipped in midmorning New York trade to find a minimal loss at $660.50, but it then rallied higher in late morning and climbed above $667 at one point before it dropped in afternoon trade and closed with a gain of 0.36%. Silver fell to $13.22 before it rallied above $13.35 by early afternoon, but it also fell off into the close and ended with a gain of just 0.15%.

COT Silver Report - March 30, 2007

"It is interesting to note that silver jewelry demand in 2005 was larger for the first time than photographic demand 171.8 Moz versus 164.8 Moz", said Michael DiRienzo, Executive Director of the Silver Institute. "Additionally, silver jewelry demand is arguably of better quality than photographic demand because the rate of recycling is far higher for the latter than the former," he added. About 60% of all silver used in photography worldwide comes back to the market while relatively little silver jewelry does.

Also, mining on the old Mexican silver belt is seeing something of a revival as North American headquartered mining companies look at bulk mining the lower grade material ignored by many of the old Mexican mine operators.