Gold Seeker Closing Report: Gold and Silver Gain Over 2.5%

	Close	Gain/Loss
Gold	$907.00	+$22.20
Silver	$16.25	+$0.45
XAU	185.89	+5.83%
HUI	462.67	+5.27%
GDM	1399.18	+1.88%
JSE Gold	2611.87	+132.41
USD	75.70	-0.60
Euro	147.64	+1.73
Yen	93.48	-0.96
Oil	$89.41	+$2.42
10-Year	3.640%	+0.214
T-Bond	118.96875	-2.46875
Dow	12378.61	+0.88%
Nasdaq	2360.92	+1.92%
S&P	1352.07	+1.01%

Gold held yesterday’s after hours access gains and traded near $890 in Asia before it began to add to its gains in London and rose to as high as $910.30 by about 9:30AM EST in New York. It then fell back off slightly into the close, but it still ended with a 2.51% gain at a new record closing high and came within $3 of its intraday high of $914.30 set on January 14^th. In today’s after hours access session gold has climbed to as high as $913.20 at the time of writing.

Silver remained near $16 in Asia and rose to as high as $16.44 by about 9:30AM EST in New York before it also fell back off slightly into the close, but it still ended with a gain of 2.85% and just 4 cents from its 27 year closing high set on January 14^th.

Euro gold rose to about €615, platinum gained $56 or 3.61% to $1606 to a new record high, palladium gained $6 to $370, and copper rose roughly 8 cents to about $3.20.

Gold and silver equities rose over 4% in early trade and climbed even further in afternoon trade to close with about 5% gains and end roughly 5% away from new all-time highs.

Report	For	Reading	Expected	Previous
Initial Claims	1/19	301K	320K	302K
Existing Home Sales	Dec	4.89M	4.95M	5.00M

Also making economic news today was a tentative deal reached on the details of the roughly $140 billion economic stimulus package that includes “tax rebates for families and incentives for business investment.” Of note is an increase in the conforming loan limit which means Fannie Mae and Freddie Mac can finance larger mortgages which in turn will lower mortgage rates for loans of up to $730,000. There are no major economic reports due out tomorrow.

Oil rose after today’s inventory reports and then rose further after some details of the economic stimulus plan were released and raised future demand expectations. Oil inventories rose 2.3 million barrels, gasoline inventories rose 5.0 million barrels, distillates fell 1.3 million barrels, and natural gas stocks fell 155 billion cubic feet.

The U.S. dollar index fell markedly and the euro rose strongly after comments from European Central Bank council member Axel Weber made it pretty clear that the ECB will not follow the fed in cutting interest rates. Weber noted that the fed’s recent 75 basis point cut to 3.5% “had not shifted the ECB focus on euro zone inflation.” Strong German Business Confidence data and more poor U.S. housing data also helped the euro outperform the dollar.

Treasuries fell substantially as markets calmed down a bit and expectations changed closer to a fed rate cut of 50 basis points next week rather than yesterday’s outlook for a cut of 75 basis points.

The Dow, Nasdaq, and S&P traded mostly modestly higher as the markets remained relatively calm in light volume compared to earlier in the week.

Among the big names making news in the market today were the bond insurers after a SCA downgrade, SocGen after a fraud announcement resulting in a $7.1 billion loss, AT&T, Lockheed, Xerox, Hershey, and Bank of America.

“February Gold finished up 22.7 at 905.8, 5.2 off the high and 5.8 up from the low.

March Silver closed up 0.363 at 16.333. This was 0.078 up from the low and 0.177 off the high.

The gold market action on Thursday ended up being a rather impressive move with the April gold contract at times reaching nearly $65 an ounce above the low from early in the week. Certainly seeing renewed weakness in the US Dollar served to shift the currency impact on gold prices back into a positive, but one also got the sense that the gold trade was equally cheered by the improvement in global economic sentiment. Furthermore, seeing the Bank of Canada hint at the prospect of further rate cuts seemed to give the positive global economic outlook an additional boost. It is possible that new all time highs in platinum added to the bullish psychology in gold and with a host of physical commodities like oil, grains and soft commodities all in an upward motion the impact of a little economic optimism was certainly being felt across a wide range of markets.

The silver market clearly seemed to respect the even number zone of $16.00 in the March contract early in the session and then managed to rise in sync with the rest of the metals markets. Clearly an improvement in economic psychology provided a number of markets with a lift on Thursday and surprisingly most the gains were forged without an overly aggressive upside extension in equity prices. Given the fresh round of new highs in platinum prices, the strength in gold prices and the sharp gains in copper prices, silver appeared to be getting buying interest from both physical and financial themes.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: StreetTRACKS added 7.68 tonnes.

Paramount’s (PZG) drill results, Royal Gold’s (RGLD) agreement to acquire royalty interests from AngloGold (AU), Exeter’s (XRA) second drill, Revett’s (RVM.TO) updated reserve estimates, Minco’s (MSV.TO) award, ECU’s (ECU.TO) updated resource estimate, Bear Creek’s (BCM.V) resource estimate, and Silvermex’s (SMR.V) appointed auditor were among the big stories in the gold and silver mining industry making headlines today.

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

Premier-Roxmark intersect primary target in Geraldton - More
- January 24, 2008 | Item | E-mail

Golden Goose hits 16.88 g/t platinum over 0.50 metres in a 3.5-metre zone at its Lac Levac property - More
- January 24, 2008 | Item | E-mail

Detour Gold shares soar on drill results, M&A talk - More
- January 24, 2008 | Item | E-mail

Toronto Star prints correction regarding Armistice Resources - More
- January 24, 2008 | Item | E-mail

Tara Gold Resources Announces High Grade Gold and Silver Results From the First Holes in Its San Miguel Vein in Mexico - More
- January 24, 2008 | Item | E-mail

GoldSpring, Inc. Receives Positive Assay Results - More
- January 24, 2008 | Item | E-mail

Silvio Warrants Exercised Company Focussing on Nevada Gold Exploration - More
- January 24, 2008 | Item | E-mail

High-Grade Exploration Results From Lydian's Crepulje Zinc-Lead Project in Kosovo - More
- January 24, 2008 | Item | E-mail

Taranis Intersects 4.54% Zn, 2.83% Pb, 0.21% Cu, 1.31 g/t Au and 176.17 g/t Ag over 1.71 m in North Extension of True Fissure Zone - More
- January 24, 2008 | Item | E-mail

Durango 2007 Review and 2008 Exploration Plan - More
- January 24, 2008 | Item | E-mail

Revett Minerals Updates Reserve Estimates at the Troy Mine - "Revett Minerals Inc. (RVM-TSX) ("Revett" or "the Company") is pleased to report that as a result of its 2007 exploration program and underground mine development work at the Troy Mine, it has essentially replaced the reserves mined during the 2007 fiscal year. As at December 31, 2007, the proven and probable reserves at the Troy Mine were estimated at 13.2 million tons grading 1.18 ounces per ton silver and 0.54% copper, containing an estimated 15.6 million ounces of silver and 142.6 million pounds of copper." More
- January 24, 2008 | Item | E-mail

Minco Silver Wins Project Development Award - "Minco Silver Corporation (the "Company" or "Minco Silver") (Toronto:MSV.TO - News) is pleased to announce that it has received a Corporate Award for Project Development at the annual Cambridge House Awards Dinner held at the Vancouver Convention and Exhibition Centre on the evening of Saturday, January 19, 2008." More
- January 24, 2008 | Item | E-mail

Brazauro Amends the Expiry Date and Exercise Price of 4,626,666 Warrants - More
- January 24, 2008 | Item | E-mail

Homeland Precious Metals Corp. Reports 7.6 m of 1.78 g/t Gold Including 3 m of 2.67 g/t at Water Canyon, Nevada and Completes Additional Drilling - More
- January 24, 2008 | Item | E-mail

Bullion Monarch Mining Stock Buyback and Earnings Report - More
- January 24, 2008 | Item | E-mail

Paramount Gold and Silver Corp. Announces High Grade Gold and Silver Results from the First Holes in its San Miguel Vein in Mexico - "Paramount Gold and Silver Corp. (Toronto:PZG.TO - News)(AMEX:PZG - News)(Frankfurt:P6G.F - News)(WKN: A0HGKQ) is pleased to announce assay results from its first four drill holes in the San Miguel vein of its San Miguel project, in the Guazapares Mining District, Mexico. Drill holes SM-01 TO SM-04 were drilled 40-50 meters apart and were designed to intercept the previously undrilled San Miguel structure approximately 70 meters below the surface (see map). The San Miguel structure is exposed for at least 1 kilometer and appears to be open along strike to the northwest." More
- January 24, 2008 | Item | E-mail

Murgor drilling extends the Wim Copper-Gold deposit in northern Manitoba - More
- January 24, 2008 | Item | E-mail

Gryphon Gold Corporation: Drilling Underway in 2008 at Red Rock Property - More
- January 24, 2008 | Item | E-mail

Lincoln Gold Corp.: Private Placement - More
- January 24, 2008 | Item | E-mail

Stratabound Drills More Copper-Cobalt in Fourth Hole at Captain - More
- January 24, 2008 | Item | E-mail

Fletcher Nickel adds second drill at Texmont Mine - More
- January 24, 2008 | Item | E-mail

/C O R R E C T I O N -- Doe Run Peru/ - More
- January 24, 2008 | Item | E-mail

Cangold Samples up to 298.0g/t Gold on Plomo Project - More
- January 24, 2008 | Item | E-mail

J-Pacific Gold Commences New Drill Program at its Montgolfier Project in Quebec - More
- January 24, 2008 | Item | E-mail

Duncan Park Holding Corporation Announcement - More
- January 24, 2008 | Item | E-mail

UME Purchases Its Own Shares - More
- January 24, 2008 | Item | E-mail

Lundin Mining Canadian Tax Election Filing Reminder for Former Tenke Mining Shareholders - More
- January 24, 2008 | Item | E-mail

Diamond drilling begins at Great Burnt Lake - More
- January 24, 2008 | Item | E-mail

Pacific Copper Corp.: La Guanaca Chile Copper Oxide Property Obtained - More
- January 24, 2008 | Item | E-mail

Continuum appoints Alex Cruz as Country Manager for Mexico - More
- January 24, 2008 | Item | E-mail

Centrasia Appoints Malcolm Lake, P. Eng. as Technical Director - More
- January 24, 2008 | Item | E-mail

Argentex receives conditional approval to list on TSX Venture Exchange - More
- January 24, 2008 | Item | E-mail

Nevada Exploration Inc. ("NGE") closes Private Placement to accelerate drilling program and provides operational update - More
- January 24, 2008 | Item | E-mail

Constitution Mining Appoints VP of Exploration and Chief Technology Officer - More
- January 24, 2008 | Item | E-mail

Andres Tinajero Joins Vena Resources as Chief Financial Officer - More
- January 24, 2008 | Item | E-mail

Bellhaven & Dominion Intersect Additional Copper and Gold Mineralization and Extend Higher Grade Zone at the Cerro Chorcha Porphyry Copper Project in Panama - More
- January 24, 2008 | Item | E-mail

European Goldfields Limited - Over 60% Increase in Revenue in 2007 vs. 2006 - More
- January 24, 2008 | Item | E-mail

Halo Appoints Vice President, Exploration - More
- January 24, 2008 | Item | E-mail

Thundermin and Cornerstone Commence 6,200 Metre Follow-Up Diamond Drilling Program on the Little Deer Copper Property, Newfoundland - More
- January 24, 2008 | Item | E-mail

Magnus International Resources Updates on Its Planned Uganda Drilling Program and Acquisition of 100% Interest in Two Projects Previously Held in Joint Ventures - More
- January 24, 2008 | Item | E-mail

Gold Resource Corporation Drills Deepest La Arista Gold to Date; 2M of 10.18 G/T Gold Within 8M of 0.63 Oz/Tonne Gold Equivalent - More
- January 24, 2008 | Item | E-mail

Legacy Mining: New Board Member and Address Change - More
- January 24, 2008 | Item | E-mail

Grandview Gold Inc. Commences Drilling in Red Lake Gold District; Follows-Up on High-Grade Assays of 22.9g/T, 61.97g/T, and 163.75g/T in New NS Zone - More
- January 24, 2008 | Item | E-mail

Dhanoa Minerals to Be Featured on Alexander Haig's 21st Century Business Television Series - More
- January 24, 2008 | Item | E-mail

Viking Deposit: Extension to Depth DDH A218: 3.0m @ 4.7% Ni Within 17.0m @ 1.4% Ni - More
- January 24, 2008 | Item | E-mail

Royal Gold Enters Into an Agreement to Acquire Royalty Interests on Marigold and El Chanate Mines From AngloGold Ashanti - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; TSX: RGL - News), the leading publicly-traded precious metals royalty company, today announced that it entered into an agreement to acquire three royalties from AngloGold Ashanti (USA) Exploration Inc., a wholly-owned subsidiary of AngloGold Ashanti North America, for $13.75 million." More
- January 24, 2008 | Item | E-mail

ECU Silver Doubles NI 43-101 Mineral Resource Estimate and Highlights Significant Potential Resources - "ECU Silver Mining Inc. ("ECU Silver" or the "Company") (Toronto:ECU.TO - News) is pleased to report the results of its "Updated" National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate (the "Resource Estimate") on its Velardena District Properties in Durango State, Mexico (the "Velardena Properties"). The results confirm an increase to over twice ECU Silver's mineral resources. A report of the Resource Estimate will be filed on SEDAR within 45 days. The Resource Estimate (refer to Tables 1,2 and 3 below) was audited by MICON International Limited ("MICON")." More
- January 24, 2008 | Item | E-mail

U3O8 Corp Reports Multiple Uranium Intersections - More
- January 24, 2008 | Item | E-mail

Triex Minerals Corporation: 2008 Hornby Bay Exploration Program - More
- January 24, 2008 | Item | E-mail

Ur-Energy Inc.: 2007 Test Results Show 84% to 93% Recovery at Lost Creek - More
- January 24, 2008 | Item | E-mail

Anglo Canadian Uranium Corp.: Colorado Drill Program Resumed on Eula Belle Uranium Project - More
- January 24, 2008 | Item | E-mail

Purepoint Uranium Group Inc: Begins Winter Drill Program at Turnor Lake - More
- January 24, 2008 | Item | E-mail

Pitchstone Exploration Ltd.: 2008 Hornby Bay Exploration Program - More
- January 24, 2008 | Item | E-mail

CanAlaska Uranium Limited to be featured on Alexander Haig's 21st Century Business Television series - More
- January 24, 2008 | Item | E-mail

Exeter Resource Corporation: Second Drill Arrives on Caspiche Gold-Copper Porphyry Property - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") reports that exploration on its Caspiche project, in the Maricunga region of Chile, will intensify with the arrival of a second diamond drill on the weekend." More
- January 24, 2008 | Item | E-mail

Bear Creek announces first Santa Ana leachable silver deposit resource; Drilling continues to expand potential - "Bear Creek Mining Corporation (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce results from the first resource estimate at the Company's 100% owned Santa Ana silver deposit and new results from 7 additional diamond drill holes (1,766 meters), all of which occur outside of the current resource boundaries. Drilling at Santa Ana now totals 21,825 meters in 120 drill holes. Santa Ana is located 200 kilometers south of the Company's world class Corani silver-base metal deposit in southeastern Peru." More
- January 24, 2008 | Item | E-mail

Silvermex Resources Ltd.: Deloitte & Touche LLP Appointed Auditor - "Silvermex Resources Ltd. (TSX VENTURE:SMR - News; "Silvermex" or the "Company") announces that Deloitte Touche LLP ("Deloitte") has been appointed auditor by the Company's Board of Directors, effective immediately. Management believes the expertise offered by Deloitte in both Canadian and Mexican accounting, audit and taxation matters will be an important contributor to the success of the Company as its projects and operations advance. Services provided by Deloitte's will be managed through its offices in Vancouver, BC, Torreon, Coahuila, and Hermosillo, Sonora." More
- January 24, 2008 | Item | E-mail

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