AngloGold (AU) (HMY) (RTP) (DISH) (HON) (K) Ratings, Price Targets

AngloGold Ashanti (NYSE: AU), Harmony Gold Mining (NYSE: HMY), Rio Tinto plc (NYSE: RTP), DISH (NASDAQ: DISH), Honeywell International Inc. (NYSE: HON) and Kellogg (NYSE: K) ratings and price targets.

AngloGold Ashanti (AU) was upgraded by Goldman Sachs (NYSE:GS) to a “Neutral” rating.

Harmony Gold Mining (HMY) was upgraded by Goldman Sachs to a “Neutral” rating.

Rio Tinto (RTP) was upgraded by Goldman Sachs to a “Buy” rating.

Brean Murray reiterated its "Buy" rating on DISH (DISH).

Honeywell International Inc. (HON) had its price target raised by Oppenheimer (NYSE:OPY) from $62.00 to $65.00. They have an “Outperform” rating on the company.

Kellogg (K) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.

Barrick (ABX) (HMY) (MFN) (CRK) (SARA) (PXD) Ratings, Price Targets

Barrick Gold (NYSE: ABX), Harmony Gold Mining (NYSE: HMY), Minefinders Corp. Ltd. (NYSE: MFN), Comstock Resources (NYSE: CRK), Saratoga Resources (NASDAQ: SARA) and Pioneer Natural Resources (NYSE: PXD) ratings and price targets.

Barrick Gold (ABX) was downgraded by RBC Capital from an “Outperform” rating to a “Sector Perform” rating.

Harmony Gold Mining (HMY) was upgraded by UBS AG (NYSE:UBS) from a “Neutral” rating to a “Buy” rating.

Minefinders Corp. Ltd. (MFN) was downgraded by Canaccord Genuity from a “Buy” rating to a “Hold” rating.

Comstock Resources (CRK) was downgraded by Global Hunter Securities from an “Accumulate” rating to a “Neutral” rating. They have a price target of $20.00 on the company, down from $30.00.

C.K. Cooper initiated coverage on Saratoga Resources (SARA). They placed a “Buy” rating and a price target of $10.00 on the company.

Pioneer Natural Resources (PXD) was downgraded by Stifel Nicolaus from a “Buy” rating to a “Hold” rating.

Cisco (CSCO) (HMY) (CVI) (DK) (GOL) (HFC) Get New Coverage

Cisco Systems, Inc. (NASDAQ: CSCO), Harmony Gold Mining (NYSE: HMY), CVR Energy, Inc. (NYSE: CVI), Delek US Holding Inc. (NYSE: DK), Gol Linhas Aereas Inteligentes SA (NYSE: GOL) and HollyFrontier (NYSE: HFC) getting new coverage from analysts.

MKM Partners initiated coverage on Cisco Systems, Inc. (CSCO). They placed a “Buy” rating and a price target of $25.00 on the company.

Deutsche Bank (NYSE:DB) initiated coverage on Harmony Gold Mining (HMY). They placed a “Buy” rating on the company.

Global Hunter Securities initiated coverage on CVR Energy, Inc. (CVI). They placed a “Buy” rating and a price target of $38.00 on the company.

Global Hunter Securities initiated coverage on Delek US Holding Inc. (DK). They placed a “Buy” rating and a price target of $20.00 on the company.

Barclays Capital initiated coverage on Gol Linhas Aereas Inteligentes SA (GOL). They placed an “Overweight” rating on the company.

Global Hunter Securities initiated coverage on HollyFrontier (HFC). They placed a “Buy” rating and a price target of $48.00 on the company.

Newmont Mining Co. (NEM) (GRMN) (GSS) (HMY) (IDSY) (MFN) (NDN) Close Up

Newmont Mining Co. (NYSE:NEM) closed Monday at 62.86, up $2.78, or 4.63 percent.

Garmin Ltd. (NASDAQ:GRMN) ended the session at $31.62, gaining $0.62, or 2.00 percent.

Golden Star Resources Ltd. (AMEX:GSS) closed Monday at $2.40, jumping $0.20, or 9.09 percent.

Harmony Gold Mining (NYSE:HMY) closed at $12.91, climbing $0.95, or 7.94 percent.

I.D. Systems Inc. (NASDAQ:IDSY) closed at $4.85, rising $0.31, or 6.83 percent.

Minefinders Corp. Ltd. (AMEX:MFN) ended the day at $16.95, increasing $1.26, or 8.03 percent.

99 Cents Only (NYSE:NDN) closed at $18.00, soaring $1.42, or 8.56 percent.

Harmony Gold (HMY) Reports Major Expansion at Wafi Golpu

Harmony Gold (NYSE:HMY) announced the Wafi Golpu gold-copper property in Papua New Guinea has an expansion of 57 percent in resources, reaching over 1 billion tons, according to CEO, Graham Briggs. Harmony is in a joint venture with Newcrest on the project.

The Golpu deposit, on a 100% basis, now estimates about 869 tons of resource, including 19.3 million ounces of gold and 9 million tons of copper.

Combined with Wafi, the resource is estimated at 1.012 billion tons grading .82 g/t gold and .89% copper for a contained 26.6 million ounces of gold and 9 million tons of copper.

Production is still a ways off in this challenging mining region of the world.

Harmony was trading at $14.11, up $0.13, or 0.93 percent, as of 9:38 AM EDT.

Eldorado (EGO) (GSS) (AEM) (HMY) (GG) Soar as Gold Breaks New All-Time Record

The price of gold broke another all-time record Tuesday, resulting in gold miners like Eldorado (NYSE:EGO), Golden Star Resources (AMEX:GSS), Agnico-Eagle (NYSE:AEM), Harmony Gold Mining (NYSE:HMY) and Goldcorp (NYSE:GG) popping.

Much of the fast action happened after reports revealed the Federal Reserve has been contemplating another round of quantitative easing, or printing money.

The price of gold settled at $1,562.30, gaining $13.10 on the day, and was up about $20 in after hours trading. The former settlement record was $1,557.10 an ounce on May 2, 2011. The rally fell short of the overall high of $1,577, reaching $1,574 an ounce.

Parameters of initiating QE3 would be sustainably high unemployment rates and low inflation, according to FOMC minutes from the meeting. Interestingly, at the same meeting other members noted they may have to take money out of the market if inflation risk continues to linger or increase.

Silver prices fell to $35.63 an ounce, a loss of 6 cents. In after hours trading the price of silver also soared by over 50 cents an ounce.

Eldorado Gold closed Tuesday at $16.63, gaining $0.81, or 5.12 percent. Golden Star Resources ended the session at $2.54, rising $0.14, or 5.83 percent. Agnico-Eagle closed at $64.35, jumping $2.19, or 3.52 percent. Harmony Gold Mining closed the day at $13.52, increasing $0.54, or 4.16 percent. Goldcorp closed at $52.56, soaring $2.15, or 4.27 percent.

Other gold miners making significant moves included Kinross Gold (KGC), which ended at $16.73, up $0.42, or 2.58 percent. Yamana Gold (NYSE:AUY) closed at $12.85, climbing $0.39, or 3.13 percent. NovaGold Resources Inc. (AMEX:NG) jumped to $9.91, gaining $0.27, or 2.80 percent. Gold Fields (NYSE:GFI) closed at $15.12, rising $0.66, or 4.56 percent. IAMGOLD Corporation (NYSE:IAG) ended the day at $20.25, up $0.90, or 4.65 percent.

Harmony (HMY) (IAG) (EGO) (GSS) (AEM) Close Mixed

Harmony Gold Mining (NYSE:HMY), IAMGOLD (NYSE:IAG), Eldorado Gold (NYSE:EGO), Golden Star Resources (AMEX:GSS) and Agnico-Eagle (NYSE:AEM) closed mixed as gold closed Friday at $1,541.60 an ounce, adding $11 at the Comex division of the New York Mercantile Exchange.
Gold traded in a range of $1,525 to $1,546.

During the four days the stock market was open last week, the NYSE Arca Exchange Gold BUGS index climbed 4.1 percent. Spot gold rose by $10.70 an ounce.

The strength in gold Friday was largely attributed to the failed Obama and Democrat economic policies, which have kept the country in a recession, contrary to commentary that we may go into a double dip recession; something that can't happen because we never left it.

Triggering the move up in gold was the disastrous jobs report which revealed only 18,000 jobs being added in June, while the umemployment rate soared to 9.2 percent. Approximately 7.5 million people are collecting unemployment.

As for gold, the next several weeks are expected to be more volatile as to price movement.

Agnico-Eagle closed Friday at $62.90, falling $0.05, or 0.08 percent. Golden Star Resources ended the session at $2.42, down $0.08, or 3.20 percent. Eldorado Gold closed at $16.01, gaining $0.05, or 0.31 percent. IAMGOLD closed at $19.41, up $0.05, or 0.26 percent. Harmony Gold Mining closed at $13.24, dropping $0.06, or 0.45 percent.

Randgold (GOLD) (HMY) (GRS) (ANV) (AUY) (GSS) Close Up on Higher Gold Prices

Harmony Gold Mining (NYSE:HMY), Randgold (NASDAQ:GOLD), Gammon Gold (NYSE:GRS), Allied Nevada Gold (AMEX:ANV), Yamana Gold (NYSE:AUY) and Golden Star Resources (AMEX:GSS) end higher as gold futures settled up.

Gold futures for August delivery roe $4 to $1,547.70 an ounce. Silver prices were also up, settling at $37.32 an ounce, gaining 2 percent.

The job market in the U.S. was also weak, as the number of people applying for unemployment benefits for the first time climbed to 427,000 last week. Economists had expected the number to fall to 419,000. The number applying for jobless benefits jumped from the prior week too, being upwardly revised from 422,000 to 426,000.

Gold was also stronger on the decision by the European Central Bank to keep its interest rate at the same level. It did give a nod toward raising interest rates in July.

The European Central Bank kept its key interest rate at 1.25 percent. The Bank of England left its main interest rate unchanged at 0.50 percent, a record low.

Golden Star Resources closed Thursday at $2.51, gaining $0.13, or 5.46 percent. Yamana Gold ended the day at $11.90, up $0.14, or 1.19 percent. Allied Nevada Gold closed at $31.62, jumping $0.09, or 0.29 percent. Gammon Gold ended the session at $9.51, climbing $0.54, or 6.02 percent. Randgold closed at $80.08, rising $3.04, or 3.95 percent. Harmony Gold Mining closed at $13.21, increasing $13.21, up $0.24, or 1.85 percent.

Gold Fields (GFI) (GSS) (HMY) (GRS) (IAG) Jump As Gold Prices Break $1,500

Investors looking to gold and silver for safety as equities drop, pushing up the price of the precious metals, and miners like Gold Fields (NYSE:GFI), Golden Star Resources (AMEX:GSS), Harmony Gold Mining (NYSE:HMY), Gammon Gold (NYSE:GRS) and IAMGOLD Corporation (NYSE:IAG).

The most actively traded gold contract, for June delivery, was recently up $19.70, or $1.3 percent, at $1,512.10 a troy ounce on the Comex division of the New York Mercantile Exchange.

Silver prices are up with the most actively traded contract, for July delivery, recently up 22.3 cents, or 0.6 percent, at $35.155 a troy ounce.

IAMGOLD Corporation (IAG) was trading at $21.13, gaining $0.47, or $2.27 percent, as of 1:23 PM EDT. Gammon Gold (GRS) was trading at $9.98, gaining $0.33, or 3.42 percent. Harmony Gold Mining (HMY) was at $13.63, rising $0.13, or 0.96 percent. Golden Star Resources (GSS) was trading at $2.71, climbing $0.08, or 3.04 percent. Gold Fields (GFI) was at $15.79, jumping $0.22, or 1.41 percent.

Harmony Gold Mining (HMY) Trades Higher on Economic Weakness

Harmony Gold Mining (NYSE:HMY) was able to close in positive territory on Thursday even as gold prices closed down on the day.

Gold for June delivery, closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.

The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.

Extremely bad news on Obama's economy pressured the commodity sector.

July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.

Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.

Harmony Gold Mining Company Limited participates in gold mining, both underground and surface. It is also involved in exploration, processing, and smelting. Most operations are in the Witwatersrand basin of South Africa, where it has 10 underground operations, 8 processing plants, and an open cast mine. It is also exploring and developing projects in Papua New Guinea, including an open-pit mine that is operational.

Harmony Gold Mining (HMY) closed Thursday at $13.50, gaining $0.02, or 0.15 percent.

Miners Barrick (ABX) (HMY) (GOLD) (MGH) (AZK) Trade Up

Shares of Barrick Gold (NYSE:ABX), Harmony Gold Mining (NYSE:HMY), Randgold (NASDAQ:GOLD), Minco Gold Corporation (AMEX:MGH) and Aurizon Mines (AMEX:AZK) all traded up on Wednesday as gold and silver prices climbed on the day.

Jaguar Mining soared on an earnings beat, closing up over 23 percent on the day.

June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.

The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.

A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.

Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.

Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.

Harmony Gold Mining (HMY) closed Wednesday at $13.48, gaining $0.21, or 1.58 percent.

Miners (HMY) (GRS) (GOLD) (RGLD) (IAG) (AEM) All Close Up Tuesday

Shares of Harmony Gold Mining (NYSE:HMY), Gammon Gold (NYSE:GRS), Randgold (NASDAQ:GOLD), Royal Gold (Nasdaq:RGLD), IAMGOLD Corporation (NYSE:IAG) and Agnico-Eagle (NYSE:AEM) went against the grain of gold prices, all closing up on Tuesday, even though gold prices dropped again.

Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.

The yellow metal has dropped $100 or 6 percent from its record highs of over $1,575 an ounce set earlier in May.

Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.

Agnico-Eagle (AEM) closed Tuesday at $62.44, gaining $0.83, or 1.35 percent.

NovaGold (NG) (AUY) (HMY) (AEM) Trade Mixed Monday

Shares of NovaGold Resources Inc. (AMEX:NG), Yamana Gold (NYSE:AUY), Harmony Gold Mining (NYSE:HMY) and Agnico-Eagle (NYSE:AEM) traded mixed Monday as gold and silver prices were down slightly on the trading day.

Gold for June delivery shed $3 to close at $1,490.60 at the Comex division of the New York Mercantile Exchange. The gold price Monday traded in a range of a low of $1,486 and a high of $1,504.30.

Silver prices ended the day down 88 cents to close at $34.13 an ounce.

The U.S. dollar index fell 0.43 percent to $75.38.

The euro strengthened as Monday trading went on, putting pressure on the U.S. dollar.

Yamana Gold (AUY) closed at $11.89, gaining $0.09, or 0.76 percent.

Gold Fields (GFI) (AU) (MGH) (RIC) (HMY) Trade Mixed As Gold Drops

Gold and silver prices went through a reversal Friday as gold closed down and silver rebounded to close higher, putting pressure on gold miners such as Gold Fields (NYSE:GFI), AngloGold Ashanti, (NYSE:AU), Minco Gold Corporation (AMEX:MGH), Richmont Mines, Inc. (AMEX:RIC) and Harmony Gold Mining (NYSE:HMY) - which closed mixed - and gold ETFS.

Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce. Silver prices settled up 21 cents to $35.01 an ounce.

The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.

Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.

Richmont Mines (RIC) closed Friday at $7.88, gaining $0.48, or 6.49 percent.

Ratings on (DKS) (EDR) (ETFC) (HMY) (IPAR) Upgraded

Ratings on shares of Dick’s Sporting Goods (NYSE: DKS), Education Realty Trust, Inc. (NYSE: EDR), E TRADE Financial Co. (NASDAQ: ETFC), Harmony Gold Mining (NYSE: HMY) and Inter Parfums Inc (NASDAQ: IPAR) were upgraded by analysts.

Goldman Sachs (NYSE:GS) upgraded Dick’s Sporting Goods (DKS) from a “neutral” rating to a “buy” rating. They have a price target of $49.00 on the company.

UBS AG (NYSE:UBS) upgraded Education Realty Trust, Inc. (EDR) from a “neutral” rating to a “buy” rating.

Raymond James (NYSE:RJF) upgraded E TRADE Financial Co. (ETFC) from an “outperform” rating to a “buy” rating.

HSBC (NYSE:HBC) upgraded shares of Harmony Gold Mining (HMY) from an “underweight” rating to a “neutral” rating. They have a price target of $16.00 on the company, up from $14.00.

Caris & Company upgraded Inter Parfums Inc (IPAR) to a “buy” rating. They have a price target of $25.00 on the company.

Miners (MY) (GSS) (SA) (TRE) (GFI) Trade Up as Gold, Silver Rebound

Gold miners Harmony Gold Mining (NYSE:HMY), Golden Star Resources (AMEX:GSS), Seabridge Gold (Amex:SA), Tanzanian Royalty Exploration (AMEX:TRE) and Gold Fields (NYSE:GFI) closed up Monday as gold prices turned around on Monday.

Gold for June delivery increased $11.86 to settle at $1,503.20 at the Comex division of the New York Mercantile Exchange after dropping 4.8 percent in a week. The gold price Monday traded in a range as high as $1,512 and as low as $1,489.

Silver prices jumped $1.82 to close at $37.11 an ounce after plunging 27 percent last week.

According to research firm Lipper, last week almost $1 billion flowed out of silver exchange traded funds (ETFs).

The U.S. dollar fell to $1.434 against the euro and dropped against the Japanese yen to 80.24 yen.

Golden Star Resources (GSS) closed Monday at $2.90, gaining $0.14, or 5.07 percent.

Miners (ABX) (HMY) (IVN) (RGLD) Mixed as Gold Closes Up

Gold was able to shake itself of silver Friday, as it has been weighed down by the plummeting price of silver in recent trade, which also has been dragging down gold miners Barrick Gold (NYSE:ABX), Harmony Gold Mining (NYSE:HMY), Ivanhoe Mines Ltd. (NYSE:IVN) and Royal Gold (Nasdaq:RGLD).

Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.

Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.

The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.

Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.

Barrick Gold (ABX) closed Friday at $46.84, gaining $0.01, or 0.02 percent.

Miners (GG) (HMY) (AUY) (GOLD) Plunge as Gold Prices Fall

Goldcorp (NYSE:GG), Harmony Gold Mining (NYSE:HMY), Yamana Gold (NYSE:AUY) and Randgold (NASDAQ:GOLD) got hit hard Thursday as gold and silver prices continue to drop.

Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.

The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.

Since the Friday settlement price silver has plummeted 25 percent.

The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.

Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.

As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.

Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.

Randgold (GOLD) closed Thursday at $79.37, falling $3.76, or 4.52 percent. Goldcorp closed at $48.72, down $2.06, or 4.06 percent.

Miners (HMY) (GG) (EGO) (GFI) (RIO) Trade Down as Gold Falls

Even though several events should have helped support gold prices on Wednesday, that wasn't the case, as Harmony Gold Mining (NYSE:HMY), Goldcorp (NYSE:GG), Eldorado Gold Corporation (NYSE:EGO), Gold Fields (NYSE:GFI) and Rio Tinto (NYSE:RIO) closed down, with gold for June delivery, the most actively traded contract, falling $25.10 to $1,515.30 an ounce.

Silver prices are the story for commodities and gold at this time, as the plunge in prices is dragging down the overall commodity sector, as traders sell off holdings to take some profits.

Silver fell $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver closed in on $50 an ounce mark last week.

Silver for July delivery dropped $2.820, at $39.765 per troy ounce.

The U.S. dollar index lost 0.15 percent to $73.01, dropping from Tuesday's 73.127 close. The dollar index is down 7.5 percent so far in 2011.

Against the euro, the dollar plunged to its lowest level Wednesday since December 2009.

Other than the fall of the dollar, other factors that would have normally supported gold was the underreported decision by the European Union to bail out Portugal for close to 78 billion euros.

Also largely ignored was the ADP Employment Change report for April, which showed the private sector missed the anticipated addition of 200,000 jobs, being able to only generate 179,000 for the month.

Also of note Wednesday was the Institute for Supply Management’s services-sector index, which was weakened more than expected in April, confirming that American growth is slowing.

Goldcorp (GG) closed Wednesday at $50.78, dropping $0.40, or 0.78 percent.

Correction for (NXG) (NEM) (AUY) (HMY) (KGC) as Gold Prices Fall

Shares of gold miners like Northgate Minerals (AMEX:NXG), Newmont Mining (NYSE:NEM), Yamana Gold (NYSE:AUY), Harmony Gold Mining (NYSE:HMY) and Kinross Gold Corp (NYSE:KGC) were suffering Tuesday as the price of gold dropped on the session, as the U.S. dollar gained a little.

Gold for June delivery fell $16.70 to $1,540.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded in a range as high as $1,551.40 and as low as $1,516.20. The spot gold price fell over $15 for the day.

A temporarily stronger U.S. dollar put some pressure on gold and silver prices Tuesday, as the U.S. dollar index climbed 0.04 percent to $73.09.

Also surprising the market was the decision by India to boost their interest rates by 50 basis points to fight inflation. That puts the lending rate their at 8.89 percent, and the overnight lending rate at 7.25 percent.

Silver fell another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex.

Most of pressure on silver prices has come from the CME Group decision to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.

Gold looks like it's just taking a needed breather before resuming its upward run.

Gold stocks have been overall lagging the price of gold, and that should change assuming the costs of inputs remain lower than the push up in gold prices.

A growing number of gold miners are increasing dividends to attract investors.

Harmony Gold Mining (HMY) closed at $14.57, falling $0.62, or 4.08 percent.