Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 3% and 2% on the Week

	Close	Gain/Loss	On Week
Gold	$910.50	+$3.50	+3.41%
Silver	$16.41	+$0.16	+1.99%
XAU	185.54	-0.19%	+4.65%
HUI	461.58	-0.24%	+5.67%
GDM	1393.76	-0.39%	+4.47%
JSE Gold	2459.94	-151.93	-3.98%
USD	75.99	+0.29	-0.50%
Euro	146.66	-0.98	+0.28%
Yen	93.43	-0.05	-0.02%
Oil	$90.71	+$1.30	+0.15%
10-Year	3.584%	-0.056	-1.75%
Bond	119.875	+0.90625	+0.23%
Dow	12207.17	-1.38%	+0.89%
Nasdaq	2326.20	-1.47%	-0.59%
S&P	1330.61	-1.59%	+0.41%

Gold rose to a new intraday record high at $923.60 in London before it fell to find a brief loss at $905.75 by early afternoon in New York, but it then rallied back higher into the close and ended with a gain of 0.39% at a new record closing high. Silver rose to $16.59 and fell to $16.292 before it also rallied back higher into the close and ended with a gain of 0.98% at a new 27 year closing high.

Euro gold rose to about €621, platinum gained $66 or 4.11% to $1672 to a new record high, palladium gained $10 to $380, and copper rose a couple of cents to about $3.22.

Gold and silver equities rose over 2% at the open, but they then steadily sold off as gold came off its early record highs and the major indices fell and the miners closed with slight losses.

Next week’s economic highlights include New Home Sales on Monday, Durable Goods Orders and Consumer Confidence on Tuesday, ADP Employment, GDP, the Chain Deflator, and the FOMC policy Statement on Wednesday, the Employment Cost Index, Personal Income and Spending, Core PCE Inflation, Initial Jobless Claims, and Chicago PMI on Thursday, and January’s jobs data, Construction Spending, the ISM Index, and Michigan Sentiment on Friday.

Oil rose over a dollar on hopes that the stimulus plan will help the economy and increase energy demand.

The U.S. dollar index rose on the outlook that the fed will not be as aggressive in cutting interest rates next week as previously thought earlier this week.

Treasuries eventually rose as the Dow, Nasdaq, and S&P fell over 1% by the close on worries over more writedowns and other bad news related to problems in the credit market.

Among the big names making news in the market Friday were Microsoft, Carlsberg and Heineken, Merrill Lynch, Ambac, Caterpillar, and Harley-Davidson.

“Gold & silver recovered quickly and sit poised for more action next week. Will the Fed cut rates more? Will the $ tumble? Will the Fed confirm they have accepted inflation and are happy to see a weaker $? It seems so, so brace yourselves for next week’s action.”- Julian D.W. Phillips, www.goldforecaster.com

“February Gold finished up 4.9 at 910.7, 10.3 off the high and 4.7 up from the low.

March Silver closed up 0.157 at 16.49. This was 0.095 up from the low and 0.07 off the high.

The gold market started out ultra strong with an early run into new high ground. However, an afternoon setback in the equity market and a recovery bounce in the US Dollar seemed to prompt some longs to bank profits. While some other physical commodity markets were really undermined as a result of the setback in the equity market, gold had the fundamental underpin of South African production concerns. It is also possible that some gold longs were emboldened by the prospect of another US rate cut move next week. Apparently the trade is concerned that the power problems in South Africa are a sustainable issue and that could serve to de-link gold from the rest of the metals markets in the coming sessions.

The March silver contract was still unable to rise to a new high in the face of very impressive initial gains in both platinum and gold prices. Silver prices did hold up relatively impressively in the face of the afternoon equity market slide and in the face of a quasi failure in copper prices. While silver prices have favored the financial or flight to quality angle recently, some traders are still fearful that a resumption of selling in the stock market will make silver's fundamental or industrial metals characteristics into a negative again.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: StreetTRACKS added 0.31 tonnes.

A power crisis in South Africa that has shut down operations at mines owned by DRDGOLD (DROOY), Gold Fields (GFI), Harmony (HMY), AngloGold (AU), and others, Barrick Gold’s (ABX) god price outlook, Aurelian’s (ARU.TO) drill results, Gammon Gold’s (GRS) appointed CFO and COO, Great Basin’s (GBN) unaffected operations, Royal Gold’s (RGLD) exercised conversion right, Crystallex’s (KRY) priced equity financing, and Vista Gold’s (VGZ) completed property acquisitions were among the big stories in the gold and silver mining industry making headlines Friday.

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

Mega Uranium Ltd.: CORRECTION FROM SOURCE - More
- January 25, 2008 | Item | E-mail

Great Bear Uranium Appoints Donald Gee to President, CEO and Dr. Lawrence Dick to Its Board of Directors - More
- January 25, 2008 | Item | E-mail

Buckingham Exploration Inc. announces successful renegotiation and exercise of its option to acquire additional Colorado mining claims - More
- January 25, 2008 | Item | E-mail

DRDGOLD says suspends production at two operations - "JOHANNESBURG, Jan 25 (Reuters) - South African gold producer DRDGOLD (DRDJ.J: Quote, Profile, Research) said on Friday it had stopped underground work at its Blyvooruitzicht and ERPM operations as power supply from state utility Eskom was only enough to cover emergency maintenance services." More
- January 25, 2008 | Item | E-mail

Barrick says record gold price is sustainable - "Record gold prices, which scaled a new peak on Friday, are sustainable and could easily go higher, according to the chairman of the world's No. 1 gold producer, Barrick Gold Corp (ABX.TO: Quote, Profile, Research)." More
- January 25, 2008 | Item | E-mail

Aurus Addresses Article Written by John Helmer - More
- January 25, 2008 | Item | E-mail

Aurelian Reports Strong Infill Drill Results on FDN; Concessions in Good Standing and Progress in Government Discussions - "These include 149.63 metres grading 12.51 g/t of gold ("Au") and 15.71 g/t of silver ("Ag") in CP-07-180 and 119.05 metres grading 8.03 g/t of Au and 22.6 g/t of Ag in CP-07-170, both on section 9583450N. On section 9583550N, drilling returned 75.81 metres grading 11.06 g/t of Au and 22.5 g/t of Ag in CP-07-178A and 51.76 metres grading 10.00 g/t of Au and 15.0 g/t of Ag in CP-07-177." More
- January 25, 2008 | Item | E-mail

Taranis Intersects 12.07 m of 0.53 g/t Au In Newly Discovered Ankerite Zone - More
- January 25, 2008 | Item | E-mail

Drilling on Roxmark's Magnet Mine Property by Premier Gold Intersects Primary Target - More
- January 25, 2008 | Item | E-mail

Gammon Gold Appoints Scott Perry as Chief Financial Officer and Russell Tremayne as Chief Operating Officer - "I am pleased to see Rene building his team with such high caliber professionals" said Mr. Fred George, Gammon's President and Chairman. Mr. George went on to say, "The combination of Scott, Russell and Rene proved to be a winning team while they were in Russia and I am totally supportive of Rene's initiative to replicate that success". More
- January 25, 2008 | Item | E-mail

Latin American Minerals Appoints Michael Brown and Ted Freedman to the Board; Grants Options - More
- January 25, 2008 | Item | E-mail

Significant Gold Anomaly at Aranka - More
- January 25, 2008 | Item | E-mail

Cantex Relinquishes Greenland Property - More
- January 25, 2008 | Item | E-mail

Houston Lake Begins Search for Option Partner for Tib Lake PGM Project - More
- January 25, 2008 | Item | E-mail

Great Basin Gold's Burnstone Mine Project Unaffected by Power Interruptions - "Great Basin Gold Ltd ("Great Basin" or the "Company") (Toronto:GBG.TO - News)(AMEX:GBN - News)(JSE: GBGOLD) announced that its operations were unaffected by the power supply interruption problems currently being experienced in South Africa." More
- January 25, 2008 | Item | E-mail

Ungava Mines Inc.: Glen Erikson Appointed President - More
- January 25, 2008 | Item | E-mail

Royal Gold Exercises Conversion Right for Its Mandatory Preferred Stock; Approves a Stock Repurchase Program; Amends Its Credit Facility - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; TSX: RGL - News), the leading publicly-traded precious metals royalty company, today announced that it has exercised its provisional conversion right for all of the issued and outstanding shares of its 7.25% mandatory convertible preferred stock ("Preferred Stock")." More
- January 25, 2008 | Item | E-mail

Ecuador halts mine contracts in limited takeover - "Ecuador's government on Friday revoked hundreds of mining concessions in a move that did not affect the country's biggest players, but sent a message that the Andean nation wants to boost control over its natural resources." More
- January 25, 2008 | Item | E-mail

New Drill Results Expand Higher-Grade Zone at Pele Mountain's Elliot Lake Uranium Mine Project - More
- January 25, 2008 | Item | E-mail

Copper Ridge acquires Clear Lake zinc-lead-silver deposit - More
- January 25, 2008 | Item | E-mail

Centrasia Continues to Intersect Significant Ni Mineralization Starting From Surface With Three Higher Grade Zones Exceeding 0.5% Ni - More
- January 25, 2008 | Item | E-mail

Long Molybdenum-Copper Intercepts Demonstrate Continuity of Mineralization at Imperial's Bear Property - More
- January 25, 2008 | Item | E-mail

GBS Gold Fourth Quarter Production Results - More
- January 25, 2008 | Item | E-mail

Results of Logan Resources' 2007 exploration program on the Shell Creek Copper-Gold Project - More
- January 25, 2008 | Item | E-mail

Southampton Appoints Paul Gorman as President, CEO and Director - More
- January 25, 2008 | Item | E-mail

Champion Bear grants share options - More
- January 25, 2008 | Item | E-mail

USCorp Announces Completion of Certain Financing Transactions - More
- January 25, 2008 | Item | E-mail

Osisko Widens Extension at South Barnat Zone - More
- January 25, 2008 | Item | E-mail

Vancouver 2008 Resource Investment Conference a Success for Silverado - More
- January 25, 2008 | Item | E-mail

Serabi Mining plc: 4th Quarter Investor Update Announcement - More
- January 25, 2008 | Item | E-mail

Cambridge Mineral Resources Plc: Financing Secured for Development of Colombian Gold Mines - More
- January 25, 2008 | Item | E-mail

African Copper Finalizes Offtake Agreement for Mowana Concentrates Completes Pounds Sterling 5.1 Million Non-Brokered Private Placement - More
- January 25, 2008 | Item | E-mail

Crystallex International Prices Equity Financing - "Crystallex International Corporation (Toronto:KRY.TO - News)(AMEX:KRY - News) ("Crystallex" or the "Company") announced today that in connection with its previously announced filing of a preliminary short form prospectus on January 24, 2008 in respect of an offering of units, the syndicate of underwriters have agreed to purchase 28.6 million units of Crystallex at a price of Cdn$2.10 per unit for aggregate gross proceeds to Crystallex of Cdn$60,060,000." More
- January 25, 2008 | Item | E-mail

USEC & USW Reach Agreement Regarding American Centrifuge Plant Work - More
- January 25, 2008 | Item | E-mail

Mining and Processing Suspended at All South African Operations - "Gold Fields Limited ("Gold Fields") (NYSE, JSE, DIFX: GFI) reports all mining activities have been suspended at its South African Operations. This is due to Eskom requesting their Key Industrial Consumers (KIC) of which Gold Fields is one, to reduce its consumption to the minimum load possible. This communication was received yesterday evening." More
- January 25, 2008 | Item | E-mail

Electricity Supply Interruptions Stop AngloGold Ashanti's South African Mining Operations - "Following notification from Eskom regarding interruptions to power supplies, AngloGold Ashanti has halted mining and gold recovery operations on all of its South African operations. Only underground emergency pumping work is being carried out. According to Eskom, the current situation arises from reduced generating capacity aggravated by problems associated with coal supplies to power stations caused by unusually heavy rainfall. Eskom has not yet indicated how long the present situation will continue but the company is in contact with the electricity supply body." More
- January 25, 2008 | Item | E-mail

Gold soars above US$920 as power crisis closes mines - "South Africa's three main gold producers and the world's biggest platinum miner suspended production at all their mines in the country on Friday due to a power crisis, helping send precious metal prices to new highs." More
- January 25, 2008 | Item | E-mail

Vista Gold Corp. Announces Completion of Acquisition of Properties Adjacent to the Guadalupe de los Reyes Project in Mexico - "Vista Gold Corp. (Amex: VGZ; TSX) is pleased to announce that it has completed the acquisition of interests in various mineral properties adjacent to Vista's Guadalupe de los Reyes Project in Sinaloa, Mexico, as previously announced on December 19, 2007. This acquisition has the effect of consolidating Vista's land position in this area. The consideration paid by Vista for the acquisition of these interests included cash payments totaling US$451,821 and the issuance of a total of 213,503 common shares of Vista, to various parties. Additional information regarding this transaction and the properties acquired by Vista is set out in Vista's December 19, 2007 press release." More
- January 25, 2008 | Item | E-mail

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