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-- Posted 21 March, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $658.80 | +$0.90 | Silver | $13.23 | -$0.03 | XAU | 138.70 | +2.27% | HUI | 341.83 | +2.80% | GDM | 1090.32 | +2.52% | JSE Gold | 2887.68 | UNCH | USD | 82.75 | -0.32 | Euro | 133.76 | +0.63 | Yen | 85.17 | -0.21 | Oil | $59.61 | +$0.36 | 10-Year | 4.518% | -0.029 | T-Bond | 112.40625 | -0.375 | Dow | 12447.52 | +1.30% | Nasdaq | 2455.92 | +1.98% | S&P | 1435.04 | +1.71% |
The Metals:  Gold rose slightly in Asia and topped $660 in London before it fell in New York and dropped to as low as $656.30 by late morning, but it then rallied back higher into the close and ended with a gain of 0.14%. Silver traded near $13.30 in Asia and London before it dropped to as low as $13.10 in late morning New York trade and then rebounded into the close as well, but it still ended with a loss of 0.23%. At the time of writing, both metals are trading roughly 0.75% higher than their close in reaction to the fed’s statement.
Euro gold remained at about €495, platinum gained $1 to $1,229, palladium lost $2 to $348, and copper rose slightly to about $3.03. Gold and silver equities rose about 1% at the open, fell to about unchanged by early afternoon, and then rose after the fed’s statement and closed with about 2.5% gains. 
The Economy: The fed kept rates unchanged at 5.25% as expected. They noted mixed indicators, but said the economy is likely to continue to expand at a moderate pace. They also mentioned they fear inflation will fail to moderate as expected over time and that raised some inflation fears, but their failure to include the phrase “additional firming” in their statement encouraged Wall Street overall that they were no longer biased towards raising rates and that sent gold, oil, stocks, and bonds higher while the dollar and interest rates fell. Tomorrow at 8:30AM EST brings Initial Jobless Claims for 3/17 expected at 325,000 and at 10AM is the Leading Economic Indicators report for February expected at -0.3%. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose as gasoline inventories fell more than expected, but gains were somewhat limited as crude inventories built more than expected. Crude inventories built 4.0 million barrels, gasoline inventories fell 3.4 million barrels, and distillates fell 1.7 million barrels. The U.S. dollar index traded slightly higher and treasuries fell a bit before the fed, but those moves reversed dramatically after the fed’s announcement and bonds ended higher while the dollar ended noticeably lower. The Dow, Nasdaq, and S&P hovered near unchanged before the fed, but they then raced higher after the fed’s announcement and ended with impressive gains as Wall Street interpreted the fed’s statement as dovish and increased their expectations for an interest rate cut later this year. Among the big names making news in the market today were Oracle, Adobe, JetBlue, Morgan Stanley, FedEx, and Fremont. The Commentary:  “April Gold finished up 1 at 660, 2.5 off the high and 2.5 up from the low.
May Silver closed down 0.05 at 13.32. This was 0.11 up from the low and 0.1 off the high. Seeing the gold market actually manage another new high for the move ahead of the FOMC meeting would seem to suggest that the prevailing trend in prices is pointing upward. However, it still appears as if the gold market is reliant on favorable equity market action and or a favorable or upbeat macro economic outlook. However, the FOMC meeting statement and the subsequent reaction in stock prices should leave the gold market in a positive posture from the action Wednesday afternoon. The silver market didn't seem to manage as much positive action ahead of the US FOMC result and at times silver was seen trading moderately below the prior sessions lows. With the copper and platinum market both finishing under profit taking selling pressure, it wasn't surprising to see silver prices trade weaker than the gold market. On the other hand, the silver market was lifted late in the session by the favorable action in the equity market and that certainly improves the bull's attitude in the silver market.” - The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
Ted Butler: After the deficit Liberty Dollar fights back, seeks injunction against U.S. Mint Ya think? Newcrest contemplates end of gold, copper hedges The more gold Dutch central bank sold, the higher the price went The Statistics: As of close of business: 3//2007 Gold Warehouse Stocks: | 7,546,010 | - | Silver Warehouse Stocks: | 120,167,765 | + 494,988 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 476.84 | 15,331,027 | US$ 10,101m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.98 | 2,828,728 | US$ 1,877m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.30 | 362,870 | US$ 241m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.10 | 356,945 | US$ 233m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 3/20/2007 | | Total Net Assets | $936,036,450 | Ounces of Gold
in Trust | 1,423,071.777 | Shares Outstanding | 14,350,000 | Tonnes of Gold
in Trust | 44.26 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 3/20/2007 | | Total Net Assets | $1,708,333,685 | Ounces of Silver
in Trust | 128,965,697.300 | Shares Outstanding | 12,950,000 | Tonnes of Silver
in Trust | 4,011.28 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Yamana’s (AUY) fourth quarter profit, Almaden’s (AAU) work program, Canyon’s (CAU) drill results, IAMGOLD’s (IAG) completed bauxite sale, Golden Star’s (GSS) commenced mining, Banro’s (BAA) statement response, Dia Bras’ (DIB.V) drill results, Silver dragon’s (SDRG.OB) assay results, Fury’s (FUR.V) drill results, and Coeur’s (CDE) new mill were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Golden Star | GSS+7.11% $4.22 | 2. Rubicon | RBY +7.03% $1.37 | 3. IAMGOLD | IAG +4.84% $7.80 |
LOSERS 1. Orezone | OZN -2.81% $1.73 | 2. Cardero | CDY -2.06% $2.39 | 3. Minco Gold | MGH-1.92% $1.47 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1. All of today's gold and silver stock news:
 Marathon Drilling Expands High Grade W Zone and Establishes New Potential of SG Zone - More
- March 21, 2007 | Item | E-mail
GWR Trenching Reports .59% Copper, 3.64 G/T Gold - More
- March 21, 2007 | Item | E-mail
CROSSHAIR ANNOUNCES RESULTS FROM SUCCESSFUL WARRANT INCENTIVE PROGRAM -PROCEEDS ALLOCATED TO EXPANDED URANIUM DRILL PROGRAM - More
- March 21, 2007 | Item | E-mail
MDN Operations Update: Tulawaka Gold Mine Should Generate US$126M of Gross Revenue - More
- March 21, 2007 | Item | E-mail
Farallon Mandates Debt Financier for Development of a Mine at G-9 - More
- March 21, 2007 | Item | E-mail
Denison Extends Offer Period to Acquire OmegaCorp Limited - More
- March 21, 2007 | Item | E-mail
Great West Gold, Inc. -- Corporate Update - More
- March 21, 2007 | Item | E-mail
Golden Harker Traces Gold Mineralized Horizon Over 3 KM at the Harker Gold Project, Northeastern Ontario - More
- March 21, 2007 | Item | E-mail
Golden Goose Resources Inc. - $3,100,000 Private Placement - More
- March 21, 2007 | Item | E-mail
Almaden Minerals Ltd.: Caballo Blanco Work Program Identifies New Areas of Alteration and Mineralization - "Almaden Minerals Ltd. ("Almaden") (Toronto:AMM.TO - News)(AMEX:AAU - News) has completed the first phase of a geologic mapping, soil sampling and induced polarization ("IP") geophysical program at its 100% owned (subject to an NSR) Caballo Blanco project, Mexico. The work has identified previously unrecognized areas of alteration and mineralization as well as geophysical features that are interpreted to represent new feeder zones similar to that intersected in past drilling." More
- March 21, 2007 | Item | E-mail
Acero-Martin Drills Long Intersections of High Grade Gold at Pinaya, Southern Peru - More
- March 21, 2007 | Item | E-mail
Shoreham Resources Announces $1,000,000 Private Placement - More
- March 21, 2007 | Item | E-mail
Rio Narcea Announces Fourth Quarter and Year-End Conference Call - "Rio Narcea Gold Mines, Ltd. ("Rio Narcea" or "the Company") (Toronto:RNG.TO - News)(AMEX:RNO - News) today announced it will report 2006 fourth quarter and year-end results, after the close of trading, on March 28, 2007. A conference call/webcast will be held the following day at 10:00 a.m. Eastern Time that will be carried on the Company's website." More
- March 21, 2007 | Item | E-mail
Platinex issues shares for debt - More
- March 21, 2007 | Item | E-mail
Tumi Resources Limited - Tumi Resources Completes Drilling at La Trini Silver-Gold Project, Jalisco, Mexico - More
- March 21, 2007 | Item | E-mail
Laramide Intercepts 13 Feet of 0.719% U3O8 in La Jara Mesa Drilling; Appoints Paul Wilkens as New Independent Director - More
- March 21, 2007 | Item | E-mail
Gemco Minerals announces commencement of 2007 exploration program - More
- March 21, 2007 | Item | E-mail
Canyon Discovers Additional Gold Mineralization at Its Briggs Mine - "Canyon Resources Corporation (Amex: CAU - News), a Colorado-based mining company, is pleased to announce the partial results of its step-out drilling along the Goldtooth fault structure at its Briggs Mine in Inyo County, California. This exciting new discovery has increased the potential for additional underground mineralization along strike on the Goldtooth fault structure. This structure is believed to be the major control for gold mineralization at Briggs." More
- March 21, 2007 | Item | E-mail
Gravity West Engages Tangent Management for Investor Relations - More
- March 21, 2007 | Item | E-mail
Yamana Gold returns to profit in fourth quarter - "Yamana Gold Inc. (YRI.TO: Quote, Profile , Research) said on Wednesday that it returned to profit in the fourth quarter, as higher gold prices and increased production from acquisitions overcame rising costs.
The company, which acquired RNC Gold (RNC_t.TO: Quote, Profile , Research), Desert Sun Mining, and Viceroy Exploration in 2006, reported net earnings of $6.1 million, or 2 cents a share, in the quarter ended Dec. 31. That reverses a net loss of $73,000, or nil per share, in the year-prior period." More
- March 21, 2007 | Item | E-mail
Tribute Announces It Will Update 43-101 on the Arrow Zone Garnet Lake Property - More
- March 21, 2007 | Item | E-mail
First Narrows Acquires Claims Adjoining the Susana D'Oro Copper-Gold Project in Sonora, Mexico - More
- March 21, 2007 | Item | E-mail
Copper Canyon Options Severance Gold Property to Northern Freegold - More
- March 21, 2007 | Item | E-mail
IAMGOLD Completes Bauxite Sale - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(ASX:IGD.AX - News)(Boston:IAMGOLD - News) is pleased to announce the closing of the sale of IAMGOLD's interest in Omai Bauxite Mining Inc. ("OBMI") and Omai Services Inc. ("OSI") to Bosai Minerals Group Co., Ltd. ("Bosai Minerals"), pursuant to a Share Purchase agreement originally announced on December 19, 2006. Cash proceeds of $28.5 million have been paid to IAMGOLD. In addition, the transaction results in a reduction of the Company's third-party debt by $17.7 million." More
- March 21, 2007 | Item | E-mail
Acrex to complete airborne geophysical surveys on its Spanish Mountain properties - More
- March 21, 2007 | Item | E-mail
RPT Uranium Options Bear Head Lake Uranium Project to Shoreham Resources Ltd. - More
- March 21, 2007 | Item | E-mail
Dia Bras: High Silver Values at Cusi - "The regional geological mapping program, under the supervision of Dr. Andre Ciesielski, has revealed the presence of a number of gold-silver veins and breccias not previously reported in the northwestern part of the Cusi property. Three groups of mineralized and brecciated faults have been identified to date, over a minimum surface strike length of 9.2 km, which is in addition to the 80 km of cumulative strike length of veins previously reported." More
- March 21, 2007 | Item | E-mail
Grenville Gold Commences 3D Modelling of Silveria Project in San Mateo District, Peru - More
- March 21, 2007 | Item | E-mail
Unico, Inc. Announces New Photo Gallery Showing Reconstruction Progress of the Mill and Processing Facility at the Deer Trail Mine - More
- March 21, 2007 | Item | E-mail
Pearl Asian Mining Industries Sets March 31, 2007 as Payment Date for Issuance of Stock Dividends - More
- March 21, 2007 | Item | E-mail
Aurus Announces High Grade Findings - More
- March 21, 2007 | Item | E-mail
Maximus Resumes Drilling at NFX's Larder Lake Gold Project, Ontario - More
- March 21, 2007 | Item | E-mail
Bellhaven Copper & Gold Receives First Cash Installment of USD$500,000 for Cerro Chorcha Joint Venture With Empire Minerals Corp. - More
- March 21, 2007 | Item | E-mail
Harris Exploration, Inc. Announces Andres Block Reveals Ten Separate Zones - More
- March 21, 2007 | Item | E-mail
Tombstone Exploration Corporation Reports Continuing Drill Results, Encouraged by Assay Results - More
- March 21, 2007 | Item | E-mail
Northland Reports Barsele Drill Results, Identifies High Grade Gold Base Metal Zone - More
- March 21, 2007 | Item | E-mail
Everton Extends Surface Soil Anomalies to over 1.5 km on the Cuance Concession in the Dominican Republic - More
- March 21, 2007 | Item | E-mail
Alhambra Resources Ltd. - Shirotnaia and Uzboy Diamond Drill Results - More
- March 21, 2007 | Item | E-mail
Dynacor signs an engagement letter of up to CA$5 million with D&D Securities Company to finance its new subsidiary - More
- March 21, 2007 | Item | E-mail
Abacus Announces Significant Resource Estimate on Third Afton Deposit-Ajax West - More
- March 21, 2007 | Item | E-mail
Jaguar Mining 4Q and FY 2006 Earnings Conference Call Details - More
- March 21, 2007 | Item | E-mail
Duluth Metals Limited announces wide mineralized intercepts with new drill results - More
- March 21, 2007 | Item | E-mail
Goldrea Update on Daye Mine Acquisition and Historical Review - More
- March 21, 2007 | Item | E-mail
Paramount Gold Earns 70% Interest in the San Miguel Groupings, Mexico - More
- March 21, 2007 | Item | E-mail
Golden Phoenix Reports Progress at Ashdown Molybdenum Mine; Mining Crews Encounter Further High-Grade - More
- March 21, 2007 | Item | E-mail
Gaia Resources, Inc. Announces Funding Efforts - More
- March 21, 2007 | Item | E-mail
Bullion River Gold Corp. Announces Closing of Private Placement of $2.71 Million, Takes Steps to Improve Production Through Equipment Acquisition - More
- March 21, 2007 | Item | E-mail
Important Resource Increase at Globex's Russian Kid Mine - More
- March 21, 2007 | Item | E-mail
Houston Lake Sends Drill Core Samples for Assay From West Cedartree Gold Project - More
- March 21, 2007 | Item | E-mail
Silver Dragon Reports Assay Results at Erbahuo Silver Mine, China - "Erbahuo Silver Mine covers an area of 1.2 square kilometers. It is located 120 kilometers northwest of the city of Chifeng, Inner Mongolia, which is 450 kilometers northeast of Beijing, China and comprises the Erbahuo mining district, part of the prolific silver belt on the structural join where the north edge of the North China platform meets with the south edge of the Hercynian fold belt of the Great Xingan Mountains." More
- March 21, 2007 | Item | E-mail
Golden Star Commences Mining of Pampe Gold Project - "The Pampe project is a satellite deposit on the Akropong Trend, west of Bogoso, where we have been exploring for a number of years and have identified a 219,500 ounce mineral reserve, which was included in our year-end 2006 mineral reserve estimate for Bogoso/Prestea. Ore mining at Pampe commenced in March." More
- March 21, 2007 | Item | E-mail
Drilling at Fury's Taylor Silver Property Continues to Define and Indicate Strong Potential for Expansion of Open Pit Resources - "Fury Explorations Ltd. (the "Company") (CDNX:FUR.V - News) announces the results of an additional 24 drill holes from its Taylor silver property located near Ely, Nevada. These results are significant as they indicate continuity of mineralization within the existing historical resource and provide good potential for its expansion. Of particular interest are four infill holes drilled in the main pit, which encountered long intercepts of silver mineralization beneath those historically outlined. These four holes also bottomed in mineralization, leaving the zone open for further expansion at depth." More
- March 21, 2007 | Item | E-mail
Coeur to Build Mill at Existing Mine in Argentina - "Coeur d'Alene Mines Corporation (NYSE:CDE - News; TSX:CDM - News) announced today that it will construct a flotation mill at the company's Martha mine in the province of Santa Cruz, Argentina, at a cost of $13.9 million. The design of the mill would accommodate annual silver production of as much as 3 million ounces. Completion is expected by the end of the year." More
- March 21, 2007 | Item | E-mail
Banro responds to statements regarding status of properties applied for - "The Company's four gold projects, Twangiza, Lugushwa, Namoya and Kamituga, consist of a total of 13 exploitation permits 100% owned by wholly-owned DRC subsidiaries of the Company. The Company has a dispute with La Quinta regarding properties that the Company has applied for located between the Company's Lugushwa and Namoya projects. This dispute therefore does not in any way affect the Company's four projects, the titles to which are not in question." More
- March 21, 2007 | Item | E-mail
Yamana Reports 2006 Results: Mine Operating Earnings of $35 Million for the Year, an Increase of Over 300% From the 2005 Level of $8.6 Million - "Earnings per share adjusted for certain non-cash and non-recurring items were $0.07 for the year. This compares to adjusted earnings per share of $0.01 for the comparative year ended December 31, 2005 and adjusted earnings per share of $0.03 for the comparative ten month period ended December 31, 2004." More
- March 21, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2007 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.
-- Posted 21 March, 2007 | |
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