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Gold traded slightly lower in Asia before dropping further in London and falling to around $555 in early New York trade, but it then rebounded for the rest of trade in New York and ended back up near $560.  Silver traded mostly slightly higher in Asia and London before falling off a bit in early New York trade, but it also rebounded for the rest of trade in New York and ended at a new 18 and ½ year high with a nice gain.

Gold and silver equities started off about 1% lower, but they then rebounded throughout trade to find about 2% gains by the close.  The XAU made a new 9 and ½ year high and the HUI and GDM made new all-time highs.

Euro gold remained near €460, platinum gained $5 to $1055 to make a new 26 year high, palladium lost $8 to $271, and copper remained near all-time highs around $2.20.  Platinum’s all-time high is $1,189.50 and was made on March 5, 1980.

More Precious Metals Analysis:

“The precious metals markets settled into a profit taking posture early Thursday and were assisted in that mentality by the alternative investment attraction of the stock market and possibly because of an ongoing bounce in the Dollar. We also think that bullish headline dialogue reached a pretty overdone level during the action Wednesday and therefore, a setback in the gold and silver was probably justified. April gold did manage to trim losses likely helped by the upward momentum in silver and a general resiliency to profit taking breaks. It was clear that silver remained in favor despite the liquidation tilt seen in other markets and that is pretty telling of the ongoing bullish tilt toward that market.” - The Hightower Report, Futures Analysis and Forecasting

“Despite the continuing consolidation, there are few gold sellers, many potential buyers and demand bigger than supply.   It seems the only way to stop further price rises is to have the gold price go high enough to weaken holders grip on gorgeous gold?"   Any pullback is already bringing buyers!” - Julian D.W. Phillips of www.goldforecaster.com

The U.S. dollar index rose on strong economic data, but gains were somewhat limited as traders looked ahead to GDP data tomorrow.

Oil remained near unchanged this morning as it was reported that natural gas stocks fell 81 billion cubic feet which was about as expected, but speculation about a possible production cut by OPEC at their meeting next week had traders talking and that may have contributed to oil moving higher in afternoon trade.

Treasuries fell on strong economic data that may influence the fed to continue to raise interest rates.

The Dow, Nasdaq, and S&P gained nearly 1% on strong economic data and positive earnings reports.

Among the big names making news in the market today were Chipotle, Lockheed Martin, Sony, GM, First Data and Western Union, Amgen, AT&T, Verizon, Caterpillar, Lilly, and Dow Chemical.

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Gold & Silver Stock News Update from GoldReview.com:

Gold Fields’ earnings, Crystallex’s exercised draw down to Azimuth, Fronteer’s increased resource estimate, Gammon Lake’s update at the Ocampo gold-silver project, Richmont’s purchase of the Goudreau property with Patricia Mining, and MAG Silver’s initiated drill program were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

All of today's gold and silver stock news:

Northern Abitibi Cuts Anomalous Gold and Silver Mineralization at Silver Park, Nevada, Including 1.0 G/T Au over 1.52 meters and 115 G/T Ag over 1.52 meters - More
- January 26, 2006 | Item | E-mail

Grizzly Diamonds Grants Incentive Stock Options - More
- January 26, 2006 | Item | E-mail

Sherwood Seeks to Accelerate Warrant Exercise to Fund Development of Minto Project - More
- January 26, 2006 | Item | E-mail

Great Panther Engages Investor Relations Consultants - More
- January 26, 2006 | Item | E-mail

Fronteer Sees More Gold in Turkey Mines - "Giroux Consultants Ltd. boosted estimates fourfold on the amount of gold and silver contained in Fronteer's Kirazli and Agi Dagi mines. The group expects the mines hold 461,000 indicated ounces of gold and 1.6 million inferred ounces of gold, as well as 2.1 million indicated ounces of silver and 8.6 million inferred ounces of silver." More
- January 26, 2006 | Item | E-mail

Crystallex International Corporation: News Release - "Crystallex International Corporation announced today that it has issued 1,661,130 common shares to Azimuth Opportunity, Ltd. for gross proceeds of C$5 million pursuant to the exercise of a draw down under the terms of its equity draw down facility." More
- January 26, 2006 | Item | E-mail

Foran Mining Corporation: Arbitration Hearing with Copper Reef - More
- January 26, 2006 | Item | E-mail

Fortress Announces CDN $5 Million Private Placement Closed - More
- January 26, 2006 | Item | E-mail

Pan American Silver to release Q4 and year end financial results February 23, 2006 - "Pan American Silver Corp. will release its 2005 fourth quarter and year-end financial and operating results before market open on February 23, 2006 and will host a conference call to discuss them on that day at 11:00 am Pacific time. North American residents dial toll-free to 1-877-825-5811. International participants please dial 1-973-582-2767." More
- January 26, 2006 | Item | E-mail

Vior Cuts High-Grade Gold Intersection on its Douay Property - More
- January 26, 2006 | Item | E-mail

Fronteer Increases Turkish Gold Resources by 400 Percent - "Fronteer Development Group Inc. announced today that a new resource estimate by Giroux Consultants Ltd. has increased the combined resource of the Kirazli and Agi Dagi projects, which it holds under option from Teck Cominco Limited's Turkish subsidiary, by over 400% for a total of 461,000 indicated ounces of gold and 1,606,000 inferred ounces of gold (at a 0.5g/t gold cut-off). A new silver resource has also been calculated at 2,118,000 indicated ounces of silver and 8,556,000 inferred ounces of silver." More
- January 26, 2006 | Item | E-mail

Fieldex lists on Frankfurt Stock Exchange - More
- January 26, 2006 | Item | E-mail

Western Troy Capital Resources Inc. Announces Grant of Options - More
- January 26, 2006 | Item | E-mail

Typhoon Initiates Resource Estimation Process and Begins Drilling at Fayolle - More
- January 26, 2006 | Item | E-mail

First Nickel Reports: Sudbury Mining And Exploration Properties: Corporate Update - More
- January 26, 2006 | Item | E-mail

Garibaldi Resources Corp.: Closing of Morelos Property Acquisition - More
- January 26, 2006 | Item | E-mail

Baker Lake Uranium Project - More
- January 26, 2006 | Item | E-mail

RECOV Energy Corp. Changes Its Name to General Metals Corporation - More
- January 26, 2006 | Item | E-mail

Yorbeau Resources Inc.: Follow Up on the Results of Hole no. 403 - More
- January 26, 2006 | Item | E-mail

Unico, Inc. Announces Temporary Change in Stock Symbol - More
- January 26, 2006 | Item | E-mail

SearchGold Initiates Drilling on its Quebec Gold Properties - More
- January 26, 2006 | Item | E-mail

Teryl Resources Corp. Announces New Gold Targets Located by the 2005 Exploration Activities on the Gil Joint Venture - More
- January 26, 2006 | Item | E-mail

Scorpio's Final Drill Results Report Positive for New Resource Study - More
- January 26, 2006 | Item | E-mail

Geophysical Crew Begins Exploration on Broulan Reef Gold Project, Red Lake, Ontario - More
- January 26, 2006 | Item | E-mail

Mindenao Gold Agrees to Merge - More
- January 26, 2006 | Item | E-mail

Firestone Ventures Announces Drilling to Commence Feb. 1st on the Louise Lake Property - More
- January 26, 2006 | Item | E-mail

Aurelian Commences 2006 Exploration Drilling - More
- January 26, 2006 | Item | E-mail

Carpathian Gold Inc. Announces Private Placement Financing - More
- January 26, 2006 | Item | E-mail

Shipment of Kelian Plant Complete - More
- January 26, 2006 | Item | E-mail

Crew Gold Corp.: Notification of Trade - More
- January 26, 2006 | Item | E-mail

Alto Commences Infill Drilling on Despinassy Gold Project - More
- January 26, 2006 | Item | E-mail

Commander Resources Ltd.: Alto Commences Infill Drilling on Despinassy Gold Project - More
- January 26, 2006 | Item | E-mail

Dynasty Metals & Mining Inc.: President's Update - More
- January 26, 2006 | Item | E-mail

Dynasty Gold Announces Changes to the Board of Directors - More
- January 26, 2006 | Item | E-mail

Gammon Lake Announces Open Pit Mining and Commencement of Heap Leach Operations at the Ocampo Gold-Silver Project - "Gammon Lake Resources Inc. is pleased to announce that mining and heap leach operations have commenced at the Company's 100% controlled Ocampo Gold-Silver Project, located in Chihuahua, Mexico. Initial production is derived from the Conico deposit in the Open Pit area of the project. Since November 2005, Gammon Lake has been developing 13-kilometres of pit roads, and has started open pit mining operations in the Conico deposit and stockpiling low-grade and high-grade ore. To date, approximately 40,000 tonnes of ore have been stacked on the heap leach pad, and is now under leach." More
- January 26, 2006 | Item | E-mail

Patricia Mining Corp. And Richmont Mines Inc. Announce The Purchase Of The Remaining Interest In The Goudreau Property - "Patricia Mining Corp. and Richmont Mines Inc. are pleased to announce the purchase of Algoma Steel Inc.'s remaining joint venture interest in the Goudreau property near Dubreuiville Ontario, for $100,000. The property will remain subject to the 15% net profits interest as per the original joint venture agreement between Algoma and Patricia Mining. The purchase will allow the Island Gold Joint Venture to expedite the exploration program on the Goudreau property." More
- January 26, 2006 | Item | E-mail

Tiberon Minerals names Ausenco as contractor to develop mine in Vietnam - More
- January 26, 2006 | Item | E-mail

Beaufield Announces Closing Of Goldcorp Private Placement - More
- January 26, 2006 | Item | E-mail

Exeter Resource Corporation: La Cabeza Produces High Gold Recoveries in Metallurgical Testwork - More
- January 26, 2006 | Item | E-mail

MAG Silver Initiates Drill Program at Lagartos Targeted on 6 Kilometre Long Silver/Lead/Zinc Anomaly - "MAG Silver Corp. announces drilling has commenced at its Lagartos NW Project in the Fresnillo District, Zacatecas State, Mexico. This 100% owned MAG Silver property is located 35 kilometres northwest along trend from the Fresnillo Mine and MAG's Juanicipio Joint Venture with Industrias Penoles." More
- January 26, 2006 | Item | E-mail

Gold Fields meets forecasts - "South Africa's second largest gold miner Gold Fields (GFI) has reported a rebound in earnings for its December quarter, due to a higher received gold price and increased gold production - after a strike in the September quarter - and lower costs." More
- January 26, 2006 | Item | E-mail

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- Written by Chris Mullen

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

The Gold Seeker Closing Report is a free edition providing a daily wrap-up of gold & gold-related news.  For more in-depth analysis of the gold markets, subscribe to The Gold Forecaster.

All sources are given within the report and most articles can be found as they are released at http://www.capitalupdates.com/, http://www.goldseek.com/, http://www.silverseek.com/, and http://www.goldreview.com/.

© Gold Seeker 2006

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