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Gold traded nearly $5 higher in world trade Monday and then dropped back near Friday’s close in early Asian trade on Tuesday, but it then steadily climbed back in London and New York and ended with a decent gain.  Silver also traded nicely higher in world trade Monday before falling a bit in early Asian trade on Tuesday, but it also climbed back nicely in London and New York and ended near its highs with a 1.38% gain.

Euro gold climbed near €465, platinum gained $18 to $1,022, palladium gained $3 to $290, and copper climbed back up near $2.30.

Gold and silver equities jumped about 2% higher at the open before falling off to find about 1% gains mid-afternoon, but they then rallied slightly into the close and ended near their highs of the session.

More Precious Metals Analysis:

“The gold market managed another higher high for the move but had trouble keeping up with the rest of the metals markets. We suspect that a stronger Dollar and partially negative production news undermined gold and allowed silver to take on the leadership role. With Peru announcing that 2005 gold production rose 20% above the prior years tally and the market recently seeing a similarly large increase in Chinese gold production we are not surprised that gold ended up lagging behind the rest of the metals. It should be noted that South African Gold Fields continued to expand its holdings in a smaller mining company and that highlights the ongoing consolidation in the gold sector, which is generally assumed to be a bullish development.” - The Hightower Report, Futures Analysis and Forecasting

The U.S. dollar index found slight gains ahead of and after FOMC minutes that indicated further interest rate hikes.

Oil rose to over $61 after rebel attacks in Nigeria over the weekend renewed geopolitical fears.

Treasuries traded mostly slightly lower as FOMC minutes indicated further interest rate hikes.

The Dow, Nasdaq, and S&P fell on the prospect for further interest rate hikes and also on higher oil.

Among the big names making news in the market today were GM, Federated Department Stores, Wal-Mart, Home Depot, Blackstone and MeriStar Hospitality, and Clear Channel.

Gold & Silver Stock News Update from GoldReview.com:

Meridian Gold’s 4^th quarter results, Cumberland’s $3.9 million exploration program, Canyon Resources’ Supreme Court update, Nevsun Resources’ mine commissioning, Kimber’s pricing of private placements, Freeport’s guards shot by arrows in Papua, Seabridge Gold’s new target at Four-Mile Basin, Agnico-Eagle’s announced gold reserves at Suurikuusikko, and Gold Fields’ acquired additional shares in Sino Gold 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:

Franklin Mining CEO and Consultant Travel to Bolivia - More
- February 21, 2006 | Item | E-mail

Meridian Gold Announces Fourth Quarter 2005 Results - "Net earnings pre-impairment of $12.0 million, or $0.12 per share. Reported net loss of $374 million, or $3.74 per share reflecting the impairment. Gold production of 75,600 ounces at a cash cost of $15 per ounce. Record operating cash flows of $26.7 million for the quarter increased cash and short-term investments balances to $281.5 million, including restricted cash." More
- February 21, 2006 | Item | E-mail

Azimut and Kennecott Extend Their Strategic Agreement - More
- February 21, 2006 | Item | E-mail

Staccato Completes Third Hole in Nine-Hole Drill Program at South Eureka, Nevada - More
- February 21, 2006 | Item | E-mail

Riverstone Resources Inc.: New Gold Licences Approved in Burkina Faso - More
- February 21, 2006 | Item | E-mail

Dynasty Gold Corp. Retains Ascenta Capital Partners Inc. to Provide Investor Relations Services - More
- February 21, 2006 | Item | E-mail

Progress Update at Minera Andes' San Jose Gold/Silver Project - More
- February 21, 2006 | Item | E-mail

Cumberland Announces $3.9M Exploration Program Directed at Gold Resource Growth at Meadowbank - "CUMBERLAND RESOURCES LTD. is pleased to announce a budget of $3.9 million for 2006 exploration at the Company's 100% owned Meadowbank gold project located in Nunavut, Canada. The two phased program, including approximately 9,000 metres of diamond drilling, is expected to commence in late March. The 2006 exploration program will focus on increasing gold resources and reserves at the recently discovered Cannu zone and other targets along the 25 kilometre Meadowbank gold trend. Cumberland has completed a Bankable Feasibility Study and is advancing the Meadowbank project towards the mid-tier level of gold production, forecast at 330,000 ounces of gold per year." More
- February 21, 2006 | Item | E-mail

Golden Band Resources: 2006 Winter Drilling Program Update - More
- February 21, 2006 | Item | E-mail

StrataGold review of 2005 drilling at Tassawini, Guyana - More
- February 21, 2006 | Item | E-mail

Tagish Appoints Manager of Exploration - More
- February 21, 2006 | Item | E-mail

Corner Bay - Update - More
- February 21, 2006 | Item | E-mail

Golden Peaks Resources Ltd. - Continued High Grade Gold Drill Results at La Fortuna - More
- February 21, 2006 | Item | E-mail

Semafo increases its total mineral reserves by 41% to 2.0 m ounces - More
- February 21, 2006 | Item | E-mail

SNL Options Properties-Proposes Private Placement - More
- February 21, 2006 | Item | E-mail

Canyon Resources Provides Supreme Court Update - "Canyon Resources Corporation, a Colorado-based mining company, reports that the United States Supreme Court has denied grant of certiorari in the case of Seven Up Pete Venture, et al. v The State of Montana. The Seven Up Pete Venture, a wholly owned subsidiary of Canyon Resources, filed the Petition for Writ of Certiorari on November 4, 2005. The Supreme Court repeatedly has stressed that a denial of certiorari does not in any way imply that the case was decided correctly by the lower courts. Accordingly, no federal court has yet reviewed the merits of the Venture's federal constitutional challenges." More
- February 21, 2006 | Item | E-mail

Nevsun Resources Ltd.: Tabakoto Mine Commences Commissioning with Ore Feed Through the Mill - "Nevsun Resources Ltd. is pleased to announce that its Tabakoto Mine in Mali has commenced commissioning of the process plant with ore feed through its mill circuit. Supplier's representatives are at site assisting Company management. Preliminary mechanical testing of individual items of process plant and equipment has been on-going since January when the Company took over the final building program." More
- February 21, 2006 | Item | E-mail

Kaoclay Announces Planned Acquisition by TSX Listed Nova Scotia Company - Erdene Gold Inc. - More
- February 21, 2006 | Item | E-mail

SearchGold Commences Exploration on Mandiana in Guinea, West Africa - More
- February 21, 2006 | Item | E-mail

Southern Arc Minerals Inc. - Additional positive phase two drilling results from Lemonga gold prospect - More
- February 21, 2006 | Item | E-mail

SACRE-COEUR MINERALS Reports High Grade Results From Initial Core Holes at Million Mountain Property in Guyana - More
- February 21, 2006 | Item | E-mail

Sunridge Gold Corp.: Drilling Intersects Near Surface High-Grade Gold Zone and Increases Depth of Adi Nefas Deposit, Asmara Project, Eritrea - More
- February 21, 2006 | Item | E-mail

Silver Dragon Report of Exploration Program on Aobaotugounao Property, Northern China - More
- February 21, 2006 | Item | E-mail

Wits Basin Announces Additional Gold Assay Results From Underground Section Recently Dewatered - More
- February 21, 2006 | Item | E-mail

Pacific Gold Corp. Completes Construction, Begins Plant Testing - More
- February 21, 2006 | Item | E-mail

Mirasol Reports Preliminary Trench Results from Sascha Project - More
- February 21, 2006 | Item | E-mail

Pearl Asian Mining Industries, Inc. Offers Clarification to Previous Transaction - More
- February 21, 2006 | Item | E-mail

Pelangio advised of further results from North Walter Lake Zone extension on Block A - More
- February 21, 2006 | Item | E-mail

Further Diamond Drill Results From North Walter Lake Zone on Trade Winds' Optioned Block A at Detour Lake, Ontario - More
- February 21, 2006 | Item | E-mail

NioGold Options Gold Assets in Val-d'Or and Malartic Camps - More
- February 21, 2006 | Item | E-mail

GoldQuest Begins Trading On Frankfurt Stock Exchange - More
- February 21, 2006 | Item | E-mail

Great West Gold, Inc. - Squeeze Trigger Report - More
- February 21, 2006 | Item | E-mail

Jinshan Acquires Four Gold Exploration Permits in the Tianshan Belt, Northwest China - More
- February 21, 2006 | Item | E-mail

Status Letter from El Capitan President - More
- February 21, 2006 | Item | E-mail

Cambodian Ventures Limited in Negotiations to Acquire Working Interest in Producing Kratie Province Gold Mining License - More
- February 21, 2006 | Item | E-mail

Century Forecasts Production Of 90,000 Ounces Of Gold At A Cash Cost Of US$325 An Ounce At Sigma Mine In 2006 - More
- February 21, 2006 | Item | E-mail

Bear Creek announces more positive drill results at Corani silver deposit - More
- February 21, 2006 | Item | E-mail

Beartooth Platinum Announces Additional Significant PGE Values At Stillwater From 2005 Field Program - More
- February 21, 2006 | Item | E-mail

Kimber announces pricing of private placements - "Kimber Resources Inc. wishes to report that the previously announced proposed private placement of common shares has been priced at C$2.00 per share (a discount of 8.8% to the 5 day average closing price). The Company is proceeding with a brokered private placement of 1,150,000 common shares to accredited investors in the United States and a non-brokered private placement of 3,800,000 shares to Canadian based institutions and accredited investors." More
- February 21, 2006 | Item | E-mail

Freeport guards shot by arrows in Indonesia's Papua - "Illegal miners equipped with bows and arrows wounded two security guards at a mine run by a unit of U.S. company Freeport-McMoRan Copper & Gold Inc. in Indonesia's remote Papua province on Tuesday, police said. The guards along with soldiers, policemen and other government officials tried to force around 100 illegal miners out of the Grasberg copper and gold mine before the situation spun out of control, Papua police spokesman Kartono Wangsadisastra said." More
- February 21, 2006 | Item | E-mail

Seabridge Gold Identifies New Target at Four-Mile Basin - "At its 100% owned Four-Mile Basin property in Nevada, Seabridge Gold's exploration team has identified a very large, gold-bearing hydrothermal system which was formed during the same period as other major deposits in the Walker Lane Trend such as Round Mountain and Goldfields." More
- February 21, 2006 | Item | E-mail

Agnico-Eagle announces conversion of 2.3 million ounces into gold reserves at Suurikuusikko; production decision expected in Q2, 2006 - "Agnico-Eagle Mines Limited announced today that probable gold reserves at its Suurikuusikko gold project in northern Finland total 2.3 million ounces. Previously, only measured and indicated resources had been defined on the property. The Suurikuusikko project was acquired through the acquisition of Riddarhyttan Resources AB in 2005." More
- February 21, 2006 | Item | E-mail

Gold Fields Acquires Additional Shareholding in Sino Gold - "Gold Fields Limited is pleased to announce that it has acquired an additional 7.8 million shares in Sino Gold Limited. The shares were purchased directly from Standard Bank London Limited. Following the acquisition, Gold Fields holds approximately 14% of Sino." More
- February 21, 2006 | Item | E-mail

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