UPDATE 1-Gold, silver stocks rise as bullion hits new highs

* Shares of many gold, silver miners rise

* Arca Gold Bugs Index tops 600 point mark

* Gold, silver prices hit record highs
(Updates with stock market openings, adds analyst comment)

TORONTO/NEW YORK, April 6 (Reuters) – Shares of most North
American gold and silver miners rose on Wednesday, with the
price of the precious metals touching new highs as a weak U.S.
dollar and unrest in the Arab world raised investor demand for
safe-haven assets. [ID:nLDE7350OK]

The Arca Gold Bugs Index (.HUI: Quote, Profile, Research), which tracks 16 of the
world’s largest bullion miners, broke through the 600-point
mark — it last peaked at 598.36 in December 2010.

Spot gold (XAU=: Quote, Profile, Research) was bid at $1,460.01 an ounce, having hit
an all-time high of $1,460.60 earlier in the day. Gold has
rallied more than 8 percent in the past two months.

Spot silver (XAG=: Quote, Profile, Research) hit a 31-year peak of $39.68 an ounce
on Wednesday.

“Looking at my screen, nearly all the mid-tier and junior
gold companies are in positive territory,” said analyst Adam
Graf, of Dahlman Rose & Co. “A couple of silver companies are
up big.”

But he noted gold company stocks had also risen on Tuesday
and some investors in bigger names may already have profited.

Graf declined to forecast prices; but he said based on
patterns, the gold price tends to be seasonal, moving up in the
first four months and last four months of the year, with a
doldrums period between May and August.

“This could be the last gasp to break through price highs
before the summer,” he said.

In that scenario, Graf said, the price could then pull back
in the summer, but might shoot higher again later in the year.

Shares of Canada-based Barrick Gold Corp (ABX.TO: Quote, Profile, Research) (ABX.N: Quote, Profile, Research),the world’s largest gold miner, dipped 3 cents in New York to
$54.25 and were off 42 Canadian cents at C$51.94 in Toronto.
Canada’s Goldcorp (G.TO: Quote, Profile, Research) rose 79 Canadian cents to C$51.09 and
Kinross Gold (K.TO: Quote, Profile, Research) was 11 cents higher at C$15.79.

On the New York Stock Exchange, Denver-based gold producer
Newmont Mining Corp (NEM.N: Quote, Profile, Research), which is holding its annual
investor day conference on Thursday, dipped 41 cents to
$56.57.

“Not every gold company follows the logic,” said Graf.

Shares of silver miner Coeur D’Alene Mines Corp (CDE.N: Quote, Profile, Research)
rose 0.7 percent to $36.97, while its rival, Hecla Mining Co
(HL.N: Quote, Profile, Research) was 2.2 percent higher at $9.74.

Canada’s Silver Wheaton Corp (SLW.TO: Quote, Profile, Research) rose 30 cents to
C$44.61 in Toronto.
(Reporting by Euan Rocha in Toronto and Steve James in New
York, editing by Maureen Bavdek and Gerald E. McCormick)

UPDATE 1-Gold, silver stocks rise as bullion hits new highs