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Gold fell off a couple dollars in Asia and remained near $556 in London before it dropped another few dollars at the New York open and remained near its lows for most of trade, but it did rebound slightly at the close.  Silver started off slightly higher in Asia before it dropped a bit in London and then furthered its losses in New York, but it also rebounded off its lows near the end of trade.

Euro gold fell near €465, platinum lost $2 to $1,025, palladium lost $6 to $278, and copper fell about 5 cents to under $2.20.

Gold and silver equities fell throughout trade and ended near their lows with over 3% losses.

More Precious Metals Analysis:

“The gold market was mostly under pressure on Monday and with the rest of the metals markets also falling in sync with gold, there seemed to be an overriding negative bias. Certainly a slightly higher US Dollar served to facilitate selling but gold was also confronted again with a series of slightly bearish supply issues and that is becoming a pattern. Apparently Russia thinks that they will be able to increase production by 50% over the coming 9 years, while another Russian mining company indicated that their 2005 production rose by 25% above their 2004 production. Some traders suggested that the metals were under pressure because of the slide in oil prices and yet others suggested that prices were down off simply profit taking. In the end, the number of reasons for the price slide on Monday were numerous.” - The Hightower Report, Futures Analysis and Forecasting

“Disappointing earnings from leading gold producer Newmont Mining helped to drag metal equities lower, aided by the weaker gold and silver price. 

The spot gold price has strong support in the low $540’s, a possible downside target this week.  Such a drop could return the HUI back to the 296-298 support.  At this level, there will be another struggle by short positions to hit stop limit orders to drag the gold price further down to the $525 spot support area, but recent drops have seen buyers take advantage of these short-lived pullbacks.  The market still shows interest in marching for the $600 level in the short run, but a break of the $540 area support will negate this and instead, we will have to some more base building before the next run-up.” – Peter Spina of www.goldforecaster.com

The U.S. dollar fell versus the yen on expected policy changes by the Bank of Japan, but it gained versus the euro on expectations of further U.S. interest rate hikes by the fed.  The euro made a new 8 week low and the yen made a new 1 month high, making for a mixed and near unchanged day for the U.S. dollar index.

Oil fell throughout morning trade and remained near its lows in afternoon trade as geopolitical tensions eased in Iran, Saudi Arabia, and Nigeria.

Treasuries traded mostly slightly lower despite an economically disappointing New Home Sales report.

The Dow, Nasdaq, and S&P rose throughout most of trade on lower oil and positive earnings reports, but all three indices did sell off slightly into the close.

Among the big names making news in the market today were Research In Motion, the SEC, Qwest, Dana Corp., Merrill Lynch, Cablevision, Newmont, Lowe’s, GE and Genworth, National Grid and KeySpan, and Armor and Stewart & Stevenson.

Gold & Silver Stock News Update from GoldReview.com:

Newmont’s earning’s and approval of the Boddington Project in Western Australia with AngloGold Ashanti, Royal Gold’s positive outlook, Rio Narcea’s completion of the performance tests for its Aguablanca nickel mine, Kinross’s year end 2005 gold reserves, Freeport’s continued problems in Indonesia, Kinross’s renewed acquisition agreement with Crown Resources, Codelco’s possible silver spin-off, and Minefinders’ feasibility study and approved mine construction for their Dolores project were among the big stories in the gold and silver mining industry making headlines today.

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All of today's gold and silver stock news:

Marathon Announces New Mineral In-Pit-Resource Estimate of 2.1 M Oz PGM Au and 348 M lbs of Copper - More
- February 27, 2006 | Item | E-mail

Riverstone Engages Investor Relations Consultant - More
- February 27, 2006 | Item | E-mail

Mega Uranium Ltd.: Hamlin Drilling Finds High Grade Phase And Extends Copper-Gold-Silver-Molybdenum Zones, Shebandowan Camp, Thunder Bay, Ontario - More
- February 27, 2006 | Item | E-mail

Virginia Gold Mines Inc.: Shareholders Special Meeting - More
- February 27, 2006 | Item | E-mail

Royal Gold Announces Positive Outlook Despite Forecasted Production Decline at the Pipeline Mining Complex - "ROYAL GOLD, INC., the leading precious metals royalty company, announced that, despite the recently forecasted decline in calendar 2006 production at the Pipeline Mining Complex, Royal Gold expects its fiscal 2006 revenue and free cash flow to exceed revenue and free cash flow for fiscal 2005, assuming current gold and other metal prices are maintained throughout fiscal 2006." More
- February 27, 2006 | Item | E-mail

Almaden Minerals Ltd.: Surface Work Program Completed on the Tuligtic Cu-Au Project, Mexico, Copper-Gold-Silver Mineralisation Identified - More
- February 27, 2006 | Item | E-mail

Aurora Gold Corporation Announces the Appointment of Klaus Eckhof as the New President and Chief Executive Officer of the Company - More
- February 27, 2006 | Item | E-mail

Meet the 2006 XYZ Gold Team - Pearl Asian Mining Industries, Inc. - More
- February 27, 2006 | Item | E-mail

Haynes Capital Corp. Opens Office in Tanzania, East Africa - More
- February 27, 2006 | Item | E-mail

Taranis Resources Intersects 4.33 g/t Au Over 20.35 m in Sulphide Keel Zone of Kettukuusikko South Zone - More
- February 27, 2006 | Item | E-mail

Gold Canyon Commences 2006 Winter Drilling at Springpole - More
- February 27, 2006 | Item | E-mail

EuroZinc Mining Corporation: Agreement Reached on Aljustrel Mine Obligations - More
- February 27, 2006 | Item | E-mail

Great West Gold, Inc. - Further Placing of Shares for Cash - More
- February 27, 2006 | Item | E-mail

Golden Band Resources Inc.: High-Grade Gold Intersections at Birch Crossing Prospect; Follow-Up Planned - More
- February 27, 2006 | Item | E-mail

Cypress Development Appoints Vice President of Exploration - More
- February 27, 2006 | Item | E-mail

QGX Awards: Concept study on Baruun Naran coal project to Minarco Asia Pacific Pty Ltd & NI 43-101 compliant resource study to McElroy-Bryan - More
- February 27, 2006 | Item | E-mail

Golden Phoenix Names David A. Caldwell President and Chief Operating Officer - More
- February 27, 2006 | Item | E-mail

Midway Expands Dauntless Gold Zone with 12.7 g/t Intercept at Midway Project, Nevada - More
- February 27, 2006 | Item | E-mail

International Royalty Corporation announces Supreme Court of British Columbia upholds coal Royalty Agreement - More
- February 27, 2006 | Item | E-mail

Bayfield Ventures Corp.: Geological Report Re-Filed on SEDAR - More
- February 27, 2006 | Item | E-mail

Chile's Codelco denies silver IPO report - "State-owned Codelco, the biggest copper miner in the world, denied on Monday a newspaper report that the company was readying a $1 billion spin-off of silver assets into a new company to be listed on the Toronto Stock Exchange. "It's not true. It's not true that Codelco is going to list $1 billion (of silver assets)," Codelco spokesman Ivan Badilla told Reuters. Asked whether the company was planning to spin off its silver assets into a separate company without selling shares in that new company, Badilla said "no comment." Citing unnamed Canadian financial sector sources, Toronto's Globe and Mail newspaper said in a report on Monday that Codelco had auditioned investment bankers in New York to lay the groundwork for an initial public offering this year." More
- February 27, 2006 | Item | E-mail

High River Gold Reports 2005 Production Results And 2006 Guidance - More
- February 27, 2006 | Item | E-mail

Newmont Board Approves Joint Development of Boddington Project With AngloGold Ashanti - "Newmont Mining Corporation announced that it will proceed with the development of the Boddington Project in Western Australia with AngloGold Ashanti Limited. Newmont recently entered into an agreement to acquire an additional 22.22% interest in Boddington from Newcrest Mining Limited. When that transaction closes, Newmont will own two-thirds of the project and AngloGold Ashanti will continue to own one-third. AngloGold Ashanti has also approved Boddington's development." More
- February 27, 2006 | Item | E-mail

CEO's Update on Sutter Gold - More
- February 27, 2006 | Item | E-mail

China's Largest Integrated Gold Producer To Acquire Interest In Sparton's Luxi Gold Project - More
- February 27, 2006 | Item | E-mail

TVI Pacific Inc.: Balabag Exploration Update - More
- February 27, 2006 | Item | E-mail

Sherwood Selects EPCM and General Contractor for Minto Copper-Gold Project; Ramp-up to Development Proceeding Rapidly - More
- February 27, 2006 | Item | E-mail

StrataGold increases gold resource at Dublin Gulch, Yukon - More
- February 27, 2006 | Item | E-mail

Strongbow Options Two Spences Bridge Properties to Tanqueray Resources - More
- February 27, 2006 | Item | E-mail

Tanqueray options additional properties in the Spences Bridge gold belt - More
- February 27, 2006 | Item | E-mail

StrataGold extends Eagle Zone at Dublin Gulch and reports 2005 drill results - More
- February 27, 2006 | Item | E-mail

Mena Resources Inc.: Drilling Commences on Vaquillas Project in Northern Chile - More
- February 27, 2006 | Item | E-mail

Retransmission: Olympus Receives Conditional Approval for TSX Listing - More
- February 27, 2006 | Item | E-mail

Pearl Asian Mining Industries, Inc. "Operation Gold Finger Team" Began Geological Exploration Studies of the XYZ Gold Mine Site - More
- February 27, 2006 | Item | E-mail

Mansfield Minerals Inc.: High-Grade Gold-Silver Mineralization Uncovered at La Frontera, Argentina - More
- February 27, 2006 | Item | E-mail

Micrex Development Corp.: Update on Current Projects - More
- February 27, 2006 | Item | E-mail

Eurasian Minerals Inc.: Kyrgyz Republic Kemin Property Gold-Copper Zone Discovered - More
- February 27, 2006 | Item | E-mail

Continental Minerals Ltd.: 2006 Program Launched at Xietongmen - More
- February 27, 2006 | Item | E-mail

FNX Mining Continues to Intersect High Grade Mineralization and Starts to Delineate the Levack Footwall Deposit - More
- February 27, 2006 | Item | E-mail

Drill Program Underway at Gossan's Bird River Sill Property - More
- February 27, 2006 | Item | E-mail

Caldera Resources Inc.: Ellendale East Diamond Project-Western Australia - More
- February 27, 2006 | Item | E-mail

Commander Resources Ltd.: Drilling Intersects 178.5 g/t Gold Over 1.0 Metre on Despinassy Project, Quebec - More
- February 27, 2006 | Item | E-mail

Alto Intersects 178.5 g/t Gold Over 1.0 Metre at the DAC Deposit, Despinassy, Quebec - More
- February 27, 2006 | Item | E-mail

Crown Resources Corporation and Kinross Gold Corporation Modify Exchange Ratio, Eliminate Valuation Collar and Extend Acquisition Agreement - More
- February 27, 2006 | Item | E-mail

Coastport Capital Inc.: Private Placement Totalling $5.4 Million; Frankfurt Stock Exchange Listing - More
- February 27, 2006 | Item | E-mail

Campbell Resources is Granted an Extension - More
- February 27, 2006 | Item | E-mail

Dynacor Hires Vector Engineering, Inc. to Review Pre-Feasibility Study of the Pasto Bueno Tungsten Mine - More
- February 27, 2006 | Item | E-mail

Dynasty Gold Signs Agreement with AngloGold Ashanti to Explore the Red Valley and Wild Horse Properties in Northwestern China - More
- February 27, 2006 | Item | E-mail

Dynasty Gold Corp. Announces Private Placement Financing - More
- February 27, 2006 | Item | E-mail

International Gold Resources Reports on Its Two for One Stock Split - More
- February 27, 2006 | Item | E-mail

Mediterranean Closes $6.63 Million Brokered Private Placement and Graduates to TSX Venture Tier 2 Culminating the Restructuring Process - More
- February 27, 2006 | Item | E-mail

Minefinders Receives Optimized Bankable Feasibility Study and Approves Mine Construction on the Dolores Project - "Minefinders Corporation Ltd. has received a bankable-level feasibility study from Kappes, Cassiday and Associates on its 100% owned Dolores gold and silver deposit in Chihuahua, Mexico. On the basis of this study, the Company's Board of Directors has now directed management to proceed with the development and construction of an 18,000 tonnes per day open-pit, heap leach mine at Dolores." More
- February 27, 2006 | Item | E-mail

Kinross renews acquisition agreement with Crown Resources - "Kinross Gold Corporation has agreed to extend the termination date to acquire Crown Resources Corporation to December 31, 2006. When completed, this acquisition will allow Kinross to restart its Kettle River facilities which, along with the development of Crown's Buckhorn Mountain project will contribute to Kinross' growing production profile." More
- February 27, 2006 | Item | E-mail

Chile's Codelco readies silver spin-off--newspaper - "Chile's Codelco, the world's largest copper producer, is preparing a $1 billion spin-off of its silver mining assets into a new company that would be listed on the Toronto Stock Exchange, a Canadian newspaper said on Monday. Citing unnamed Canadian financial sector sources, the Globe and Mail said the state-owned Santiago-based company auditioned investment bankers in New York over the past two weeks to lay the groundwork for an initial public offering later this year." More
- February 27, 2006 | Item | E-mail

Rio Narcea Announces Successful Completion of Performance Tests and Commissioning at its Aguablanca Nickel Mine - "Rio Narcea Gold Mines, Ltd. announces that successful completion of the performance tests for its Aguablanca nickel mine, as specified in terms of the lump-sum contract agreed between the Company and Fluor Corporation has been achieved. The performance tests were conducted in January and February 2006 and consisted of two separate tests:" More
- February 27, 2006 | Item | E-mail

Newmont Mining Corporation Fourth Quarter and 2005 Results - "Newmont Mining Corporation today announced fourth quarter income from continuing operations of $72 million ($0.16 per share) and 2005 income from continuing operations of $374 million ($0.84 per share). Newmont also reported industry-leading cash from operations of $1.25 billion for 2005, as well as record proven and probable gold reserves of 93.2 million equity ounces at year-end 2005, based on a gold price assumption of $400 per ounce. Other fourth quarter and 2005 highlights included:" More
- February 27, 2006 | Item | E-mail

Reminder - Newmont Announces Results and Reserves Conference Call - "Newmont Mining Corporation announced that it will report fourth quarter and full-year 2005 results as well as 2005 reserves on Monday, February 27, 2006. A conference call will be held that day at 4:00 p.m. Eastern Time (2:00 p.m. Mountain Time) to discuss the fourth quarter's and full year's results. The conference call will be carried on the Company's web site." More
- February 27, 2006 | Item | E-mail

Kinross year end 2005 gold reserves total 24.7 million ounces - "Kinross' reserve base and average mine life have grown steadily over the past five years and are reaching new highs," said Tye Burt, Kinross President and CEO. "Our 2005 exploration program has been successful in growing our reserve base at year end 2005 to 24.7 million ounces compared with the 19.4 million ounces reported at year end 2004, including replacing depletion from the gold produced in 2005." More
- February 27, 2006 | Item | E-mail

Indonesia police fire tear gas to disperse Freeport rally - "Indonesian police fired tear gas on Monday to disperse hundreds of protesters outside a Jakarta building housing offices of the Indonesian unit of U.S. company Freeport-McMoran Copper & Gold Inc. In a rally targeting the controversial mining firm, 500 protesters smashed the ground-floor windows of the building but none reached Freeport's offices on the 5th and 7th floors." More
- February 27, 2006 | Item | E-mail

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