Gold Seeker Closing Report – Gold & Silver Gain; Arab Stock Markets Tumble

Report	For	Reading	Expected	Previous
Current Account	Q4	-$224.9B	-$218.0B	-$185.4B
Retail Sales	Feb	-1.3%	-0.9%	2.9%
Retail Sales ex-auto	Feb	-0.4%	-0.5%	2.6%
Business Inventories	Jan	0.4%	0.3%	0.8%

The economically disappointing Current Account was somewhat offset by a Q3 reading that was revised to a lower deficit from -$195.8 billion, but a record high reading for the Q4 data still resulted in a record high trade deficit for the year at $804.9 billion. This results in a new record high deficit in 7 of the past 8 years.

Retail Sales dropped more than expected and fell for the first time in 6 months, but January’s data was revised up from 2.3% and some were pleased that Retail Sales excluding auto sales did not drop as much as expected. January’s ex-auto data was also revised up from 2.2%.

Tomorrow at 8:30AM EST brings Export and Import Prices for February and the NY Empire State Index for March expected at 19.0. At 9AM are Net Foreign Purchases for January and at 2PM is the Fed’s Beige Book.

	Close	Gain/Loss
Gold	$551.60	+$5.60
Silver	$10.21	+$0.08
XAU	130.25	+1.96%
HUI	300.60	+1.85%
GDM	956.71	+1.89%
JSE Gold	2606.68	+2.85%
USD	90.02	-0.51
Euro	120.21	+0.65
Yen	85.15	+1.13
Oil	$63.10	+$1.33
10-Year	4.696%	-0.079
T-Bond	111.125	+0.78125
Dow	11151.34	+0.68%
Nasdaq	2295.90	+1.27%
S&P	1297.48	+1.04%

Gold dropped about $3 in Asia and held about $2-$4 lower in London and early New York trade, but it then rallied throughout late morning and afternoon New York trade and ended near its highs of the session with an over 1% gain for the second day in a row. Silver fell as much as 15 cents in very choppy trade in Asia and London and came into New York about 5 cents lower before gaining throughout trade in New York to end near its highs of the session at a new 22 year closing high.

Euro gold neared €460, platinum remained unchanged at $1,011, palladium gained $7 to $303, and copper climbed above $2.25.

Gold and silver equities started off unchanged but rose throughout most of trade to find over 2% gains before selling off just slightly into the close.

“The precious metals markets managed to reject some weak early action and probably benefited from the slide in the Dollar and the hope that the US Fed might not be as aggressive with upcoming rate hikes. Over tightening was certainly part of the concern that sunk precious metals prices from the February highs and seeing the Fed temper their rate stance should take away some of the bear camps resolve. It would seem like the silver market is still capable of out performing the gold market in the short term. The bull camp in the metals was certainly lucky to see the tempering rate hike theme surface, because the markets could have been undermined by the soft retail sales reading.” - The Hightower Report, Futures Analysis and Forecasting

Oil remained near unchanged in morning New York trade as a lower demand forecast from the IEA battled geopolitical concerns, but oil then rose throughout afternoon trade and ended near its highs as words of a supply disruption added to geopolitical worries. Traders were also preparing for inventory reports tomorrow that are expected to see a rise in crude inventories, but a drop in gasoline and distillate inventories.

The U.S. dollar index fell and treasuries gained on disappointing economic data that may influence the fed to stop raising interest rates. The yield on the 10-year fell from 20 month highs.

The Dow, Nasdaq, and S&P rose throughout trade and ended near their highs as lower bond yields and good earnings reports encouraged investors.

Among the big names making news in the market today were Google, Delta, Wheeling-Pittsburg, Goldman Sachs, Bear Stearns, and Nasdaq and LSE.

Today we also take a look at some world markets. While sparsely if at all reported in the U.S., the Bombay Stock Exchange has consistently been closing at new record highs and Arab stock markets have also rallied nicely over the past 3 years, but not in trade today as “Dubai's key index dropped 12 percent.” European shares also closed at a 4 and ½ year high on Tuesday. Keep track of world market movements at CapitalUpdates.com’s International section.

The Bears have lost this round in the Loonie! The market proved today that the Loonie has broken the selling pressure that was plaguing it. The Loonie is still in its trading range, and will probably achieve the highs of its current trading range.

The $USD has broken the buying momentum. The locals have changed their strategy, and are now hunting sell stops. They will probably be successful, as someone did a lot of buying recently. The bulls have a big problem now, and we will see the stampede for the exit soon as the bull trap closes. The $USD is now confirming its primary trend. It may take some time to achieve momentum for this train, but time is now against the Bulls. Commercials are still waiting for a resolve on the US Debt Ceiling. The subscribers to THE LOONIE WATCH (copyright 2006) have already received the necessary instructions to capitalize on the new information!

The primary trends are intact for the Loonie, and the $USD. Hedgers and traders can now concentrate on their golf games. Stay tuned to GOLDSEEK.COM , your source for updates for THE LOONIE WATCHER, and THE BLACK GOLD WATCHER

Pacific Rim’s 3^rd quarter results, Apollo Gold’s drill results from Black Fox, and Coeur d’Alene’s proposed offering of common stock were among the big stories in the gold and silver mining industry making headlines today.

Tribute Intersects the Arrow Zone-8.8 Metres 'True Width' Grading 4.4% Zinc, 36.7 g/t Silver - More
- March 14, 2006 | Item | E-mail

Normabec Mining Resources Ltd.: Agreement on a Mexican Silver Mining District - More
- March 14, 2006 | Item | E-mail

PGM Ventures Corporation-Press Release - More
- March 14, 2006 | Item | E-mail

Century Purchases Four New Komatsu 100-Ton Haul Trucks for Sigma Mine - More
- March 14, 2006 | Item | E-mail

Great West Gold, Inc. - Corporate Update - More
- March 14, 2006 | Item | E-mail

Golden Band Resources Announces Private Placement - More
- March 14, 2006 | Item | E-mail

Taseko Mines 2006 Annual General Meeting - More
- March 14, 2006 | Item | E-mail

Helio Resource Corp.: Warrant Exercise Notice - More
- March 14, 2006 | Item | E-mail

Keegan Encounters Gold in Wagyakrom Trench at Asumura - More
- March 14, 2006 | Item | E-mail

Fortress Reports Drilling Underway at the Svetloye Project, Russia - More
- March 14, 2006 | Item | E-mail

Columbia Metals Corporation Ltd.: La Jojoba Gold Property Update - More
- March 14, 2006 | Item | E-mail

TVI Commences Exploration Program on Tamarok and Tapisa Porphyry Copper-Gold and Massive Sulphide Copper-Zinc-Gold Prospects - More
- March 14, 2006 | Item | E-mail

Andean American Mining Corp.: Massive Sulphide-High Grade Zinc Discovery at Sinchao - More
- March 14, 2006 | Item | E-mail

Sur American Gold Corporation: Major Geophysical Anomaly Discovered at Batoto Project - More
- March 14, 2006 | Item | E-mail

QGX begins 2006 drilling campaign at Baruun Naran coal project - More
- March 14, 2006 | Item | E-mail

Pacific Rim Announces Fiscal 2006 Third Quarterly Results - "For each of the three month period ended January 31, 2006 and 2005 Pacific Rim recorded a loss of $0.6 million or $0.01 per share. Revenues during Q3 2006 were comparable to those in Q3 2005 ($2.6 million and $2.7 million, respectively). Exploration expenditures during Q3 2006 were $0.5 million higher than in Q3 2005 ($1.7 million in Q3 2006 compared to $1.2 million in Q3 2005) but this increase was largely offset by lower operating costs quarter over quarter ($1.3 million in Q3 2006 compared to $2.0 million in Q3 2005)." More
- March 14, 2006 | Item | E-mail

South-Malartic Signs Option to Acquire the Natora Group Property Next to Minefinders' Dolores Gold Deposit - More
- March 14, 2006 | Item | E-mail

Freewest Set to Drill New Conductors Defined by Infinitem Survey on Sungold Base-Metal Property in Northwestern Ontario - More
- March 14, 2006 | Item | E-mail

Azco Mining Updates Shareholders on Gold Mining and Other Activities - More
- March 14, 2006 | Item | E-mail

Aurus Acquires the Klyon "Maple" Deposit: 1.9 Million Ounces of Gold Ore - More
- March 14, 2006 | Item | E-mail

Alberta Star Contracts Geotech Ltd. to Execute a Helicopter Airborne Geophysical Survey Over its Contact Lake IOCG & Uranium Project - More
- March 14, 2006 | Item | E-mail

Campbell Resources Announces Its Fourth Quarter and Annual Results for 2005 - More
- March 14, 2006 | Item | E-mail

Brookmount Explorations Completes Frankfurt Listing - More
- March 14, 2006 | Item | E-mail

Vior Cuts 8.7 g/t Au Over 5.5 Meters 70 Meters Below Surface at Douay - More
- March 14, 2006 | Item | E-mail

World Ventures Inc. Appoints Haynes Capital Corp. for Investor Services - More
- March 14, 2006 | Item | E-mail

Infinity Mining's Audit Is Completed - More
- March 14, 2006 | Item | E-mail

Equity Retirement Distributors (Canada) Ltd. Is Now Infinity Mining Corp. (Canada) - More
- March 14, 2006 | Item | E-mail

XYZ Operation Gold Finger to Yield Estimated Total Annual Gross Revenues of $157,236,600.00 USD - More
- March 14, 2006 | Item | E-mail

X-Cal Calls Shareholder Meeting: Report on the Sleeper Gold Property Filed to Sedar - More
- March 14, 2006 | Item | E-mail

East Delta Continues its Aggressive Growth in China - More
- March 14, 2006 | Item | E-mail

Maxy Gold Corp.: Positive Geophysical Anomaly Corresponds with Copper and Gold Geochem Anomalies on Niujaozhai Copper Project - More
- March 14, 2006 | Item | E-mail

Wallbridge America Commences Drilling on Copper-Nickel-PGE Property in Minnesota - More
- March 14, 2006 | Item | E-mail

Tri-Valley Unit Announces Results of 2005 Drilling on Richardson Project - More
- March 14, 2006 | Item | E-mail

Norsemont appoints Sivertz as project manager of the Amata Silver-Gold-Copper Project - More
- March 14, 2006 | Item | E-mail

TTM Resources Inc. Commences Trading on the TSX Venture Exchange - More
- March 14, 2006 | Item | E-mail

Latest High-Grade Gold Intercepts Reported At Apollo Gold's Black Fox Project - "Apollo Gold Corporation is pleased to announce additional encouraging results from the 2005 core drilling program of the Gold Zone at its Black Fox Project near Timmins, Ontario, Canada. The most recent drilling continues to demonstrate high-grade gold mineralization and excellent system continuity." More
- March 14, 2006 | Item | E-mail

Coeur Announces Proposed Offering of Common Stock - "Coeur d'Alene Mines Corporation, the world's largest publicly traded primary silver producer, announced today that it intends to offer 22 million newly issued shares of its common stock under an effective shelf registration statement on file with the U.S. Securities and Exchange Commission." More
- March 14, 2006 | Item | E-mail

Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Do you have questions, comments, or suggestions about this report? Email Chris Mullen at cm@goldseek.com

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.

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.