Randgold (GOLD) (NG) (GBU) Close Mixed as Gold, Silver Break Records

Randgold (NASDAQ:GOLD), NovaGold Resources Inc. (AMEX:NG) and Gabriel Resources (TSE:GBU) closed mixed Thursday even as gold and silver prices broke all-time records. It appears investors are taking some profits off the top.

Gold prices soared while silver prices climbed Thursday as investors bought the metals against a weak dollar and higher inflation expectations.

Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.

Silver prices for July moved up $1.55 to settle at $47.54 an ounce.

Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.

The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.

Gold Breaks $1,500 as Centerra (TSE:CG), Alamos (TSE:AGI), Aura (TSE:ORA) and Gabriel (TSE:GBU) Close Mixed

After blowing past the $1,500 an ounce mark on Tuesday, gold prices settled just under the important psychological barrier at $1,495.10, as gold miners Centerra Gold (TSE:CG), Alamos Gold (TSE:AGI), Aura Minerals (TSE:ORA) and Gabriel Resources (TSE:GBU) closed mixed on the day.

Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.

The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.

Silver prices for May delivery climbed almost a dollar to settle at $43.91.

Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.

Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.

Gabriel Resources closed Tuesday in Toronto at $7.04, falling $0.02, or 0.28 percent. Aura Minerals ended the session at $17.68, level with Monday's close. Alamos Gold closed at $14.71, also level with the close on Monday. Centerra Gold closed the day at $17.49, gaining $0.395, or 2.28 percent.

Alamos (AGI) (GBU) (CG) Up, (ORA) Down as Gold, Silver Rise Again

Shares of most gold miners were up as gold soared again Thursday, with Aura Minerals (TSE:ORA), Gabriel Resources (TSE:GBU), Centerra Gold (TSE:CG) and Alamos Gold (TSE:AGI) trading up in Toronto, with the exception of Aura.

Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.

The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.

The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.

In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce.

Alamos Gold closed in Toronto Thursday at $14.25, gaining $0.62, or 4.55 percent. Centerra Gold closed at $17.41, up $0.27, or 1.58 percent. Gabriel Resources ended the session at $7.20, rising $0.28, or 4.05 percent. Aura Minerals closed down at $2.92, falling $0.08, or 2.67 percent.

Marc Faber Likes Ivanhoe (NYSE:IVN), Barrick (NYSE:ABx), Novagold (NYSE:NG), Gold Fields (NYSE: GFI), Newmont (NYSE:NEM)

Marc Faber, the contrarian investor and the real Dr. Doom of the marketplace, has been pushing the value of investing in gold for a number of years. He recently named the gold miners he likes at this time, which are Ivanhoe Mines (NYSE:IVN), Barrick Gold (NYSE:ABx), Novagold (NYSE:NG), Gold Fields (NYSE:GFI), Newmont Mining(NYSE:NEM), Gabriel Resources (TSE:GBU), Centamin Egypt (TSE:CEE) and Sprott Resource (TSE:SCP).

A little suspect is his Novagold pick, as he was recently named to the board of the company.

Barrick and Newmont are obvious as the large-cap miners. Ivanhoe is also among my favorites over the long term, although once their Oyu Tolgoi mine gets going, they will be more like Freeport-McMoran (NYSE:FCX) than primarily a gold miner, as the copper resources there are vast, although so are the gold resources.

Faber recently stated that he believes gold is still inexpensive, and investors should allocate resources to it on a monthly basis.

Gabriel Resources (TSE:GBU) Upgraded by Macquarie Research

Macquarie Research upgraded Gabriel Resources (TSE:GBU) today from "Underperform" to "Neutral."

News from the largest undeveloped gold mine project in Europe, the Rosia Montana in Transylvania, Romania, was the explanation behind the upgrade, where safety permits at two dams needed for the project were approved.

The target price on Gabriel was also increased by Macquarie from C$4.00 to C$4.75.

So far the company has held gains related to the announcement. As of 3:13 p.m. EDT, the stock was at 4.54, up 0.28 or 6.57 percent.

Jaguar Mining (TSE:JAG) ,Gabriel Resources (TSE:GBU), Greystar Resources (TSE:GSL) Down, on Otherwise Good Gold Day

While most gold miners continue their upward climb, that was unfortunately not true for all of them, as Jaguar Mining (TSE:JAG), Gabriel Resources (TSE:GBU) and Greystar Resources (TSE:GSL) all bucked the trend in negative way, at least on the Toronto exchange.

Jaguar was in the positive side in New York, ending the session up by $0.06, or 0.66 percent. They closed at $9.16.

There was no apparent reason for the drop in the price of these gold miner's share, as no news came out which would have caused the share prices to fall.

In Toronto, Greystar closed at $3.83, down $0.02 or 0.52 percent; Gabriel closed at $3.94, a loss of $0.19 or 4.6 percent; and Jaguar closed at $9.64, down $0.12, or 1.23 percent.