Gold Seeker Closing Report: Gold and Silver Gain Nearly 2% to New Highs

	Close	Gain/Loss
Gold	$926.90	+$16.40
Silver	$16.68	+$0.27
XAU	188.47	+1.58%
HUI	467.93	+1.39%
GDM	1414.89	+1.52%
JSE Gold	2395.25	-64.69%
USD	75.59	-0.40
Euro	147.79	+1.13
Yen	93.53	+0.10
Oil	$90.99	+$0.28
10-Year	3.586%	+0.002
T-Bond	119.96875	+0.09375
Dow	12383.89	+1.45%
Nasdaq	2349.91	+1.02%
S&P	1353.97	+1.76%

After closing slightly above $910 on Friday, gold quickly moved to above $920 in Asia Monday morning before it dropped back to as low as $915.13 in London, but it then rose to new highs in New York and closed with a gain of 1.80% at a new record closing high after setting a new intraday record high of $929.45. Silver rose to over $16.55 in Asia and fell to $16.33 in London, but it then made a new 27 year intraday high of $16.71 in New York and closed just a few cents off that high with a gain of 1.65%.

Euro gold rose to about €627, platinum gained $49 to $1721 to a new record high, palladium gained $5 to $385, and copper remained at about $3.22.

Gold and silver equities fell slightly in the first hour of trade along with the major indices, but they then steadily rose for most of the rest of trade and ended with about 1.5% gains.

Report	For	Reading	Expected	Previous
New Home Sales	Dec	604K	645K	634K

New Home Sales fell 4.7% in December to a near 13-year low after November’s plunge and sales are down 40.7% compared to December 2006. Tomorrow at 8:30AM EST brings Durable Goods Orders for December expected at 1.5% and at 10AM is Consumer Confidence for January expected at 87.0.

Starcore International is a gold and silver producer in Mexico and a 'Tier One' company listed on the TSX-V under the symbol SAM.

The San Martin Gold mine was acquired January 2007 from Goldcorp Inc. It is located about 50 km east of the City of Querétaro in Querétaro State, a few hours drive from Mexico City. The company currently retains an 80 to 20 joint venture agreement with Goldcorp. Inc. in the development of the Cerro Dolores, El Transito Deposit 190 km south - southwest of Mexico City. The El Transito Deposit is a silver-lead-zinc replacement orebody defined by over $US 2 million in development expenditures

Oil fell in early trade on worries about the economy and falling demand, but it rose to find a small gain by the close on hopes that the fed will cut interest rates by a large amount to help stimulate the economy.

The U.S. dollar index fell while treasuries and the Dow, Nasdaq, and S&P rose on rate cut hopes as New Home Sales disappointed yet again and made it more likely that the fed will be aggressive with their rate cut on Wednesday. Fed fund futures currently expect about a 94% chance for a cut of 50 basis points.

Among the big names making news in the market today were CME and Nymex, McDonald’s, Countrywide, Sallie Mae, Verizon, Tyson, Alliance Data and Blackstone, Sears, and Corning.

“February Gold finished up 16.4 at 927.1, 2.1 off the high and 9.9 up from the low.

March Silver closed up 0.26 at 16.75. This was 0.3 up from the low and 0.045 off the high.

Apparently the gold trade was unconcerned about the threat of too much slowing and instead was lifted by renewed weakness in the US Dollar. It also appeared as if the gold market was at least partially lifted by the US stock market’s ability to rally in the face of a much softer than expected US new home sales report. Some traders continued to suggest that South African production threats provided the trade with an ongoing lift and since the power problems in Africa remain in a state of flux it isn't surprising that the trade continues to play up that story. With the financial markets seemingly increasing the prospect of another aggressive US interest rate cut from the Fed it is possible that argument served to provide gold with support in the face of the US numbers.

The silver market managed to reach above the early January highs on Monday and seemed to be pulled higher by the persistent strength in the gold market. Certainly seeing the US stock market rally improves macro economic sentiment and that helped silver and a host of physical commodity markets get around the rather disappointing flow of scheduled US numbers. Furthermore, seeing copper and energy prices forge a definitive recovery rally also seemed to improve silver's fundamental posture.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: 1.08 tonnes were added to the trust.

Goldcorp’s (GG) company size, NovaGold’s (NG) development plan for the Galore Creek deposit, Gold Fields’ (GFI) power supply, Seabridge’s (SA) resource estimate, Paramount’s (PZG) drill results, Great Panther’s (GPR.TO) production, Golden Tag’s (GOG.V) and ECU’s (ECU.TO) technical report, and Apogee’s (APE.V) drill results 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.

Sino Gold - December 2007 Quarterly Report - More
- January 28, 2008 | Item | E-mail

Luna Gold intercepts 33.00 m of 2.46g/t Au from surface and 5.00 m of 6.26 g/t Au at the Aurizona Gold Project, Brazil - More
- January 28, 2008 | Item | E-mail

Size isn't everything, says Goldcorp's Telfer - "Bigger isn't necessarily better in the gold industry, said Goldcorp (G.TO: Quote, Profile, Research) Chairman Ian Telfer, whose deal-making vaulted the Canadian miner from mid-tier status to among the industry leaders in 2006.

Unlike the energy and base metals industries, gold mergers exceeding a certain value were unlikely to provide much benefit to shareholders, he said." More
- January 28, 2008 | Item | E-mail

Freegold Adds Strategic Land Holding to Golden Summit Project - More
- January 28, 2008 | Item | E-mail

EURO Ressources S.A. Further Reduction in Gold Hedge - More
- January 28, 2008 | Item | E-mail

Odyssey Announces Corporate Update - More
- January 28, 2008 | Item | E-mail

Century withdraws offer - More
- January 28, 2008 | Item | E-mail

Exploration Results at the Connaught Property - More
- January 28, 2008 | Item | E-mail

First Uranium's Ezulwini Mine Impacted by South African Power Cuts: Tailing Recovery Operation Unaffected - More
- January 28, 2008 | Item | E-mail

Tagish Lake - Corporate update - More
- January 28, 2008 | Item | E-mail

Black Pearl Receives NI 43-101 Report on Timmins Gold Property; - More
- January 28, 2008 | Item | E-mail

Endurance Gold Corporation retains Renmark Financial Communications Inc. - More
- January 28, 2008 | Item | E-mail

Noront Resources Ltd.: Highest Grade Hole to Date Encountered at Eagle One - More
- January 28, 2008 | Item | E-mail

Buchans River releases results of "Billiton targets" drill program - More
- January 28, 2008 | Item | E-mail

Guyana Goldfields Inc. Calls Special Meeting of the Shareholders of Coronation Minerals - More
- January 28, 2008 | Item | E-mail

Atomic signs final letter of intent to acquire over 940,000 acre, Tanzanian Property package - More
- January 28, 2008 | Item | E-mail

Metanor Resources and the Waswanipi Cree Community Sign a Draft Agreement for the Bachelor Lake Mine - More
- January 28, 2008 | Item | E-mail

U.S. Mine Makers, Inc. Announces Trading Symbol 'USMM' - More
- January 28, 2008 | Item | E-mail

Mill City announces exercising of warrants - More
- January 28, 2008 | Item | E-mail

Benton and Marathon PGM join forces in Coldwell Complex - More
- January 28, 2008 | Item | E-mail

Mining Commences at SRA's Gordonsville Zinc Mine - More
- January 28, 2008 | Item | E-mail

Excellent Results From Drilling at Continental's Newtongmen Deposit - More
- January 28, 2008 | Item | E-mail

Highland Gold appoints Millhouse execs to board - More
- January 28, 2008 | Item | E-mail

Great Panther Sets New Production Records to End 2007 - "The Guanajuato Mine produced 127,624 oz of silver and 946 oz of gold from 45,773 tonnes in the fourth quarter. The December average ore grades of 161.2g/t silver and 1.23g/t gold represent a 50% increase in the silver equivalent grade as compared to the average for 2007. The increase in grade is a direct result of new grade control measures which, in turn, resulted in decreased output from the San Vicente area of the mine, a source of lower grade material, and more focus on the higher grade areas." More
- January 28, 2008 | Item | E-mail

New Galore development plan by mid-09 - NovaGold - "A new development plan for the Galore Creek deposit, a massive but stalled copper and gold project in northwestern British Columbia, is expected in the next 12 to 18 months, part owner NovaGold Resources Inc (NG.TO: Quote, Profile, Research) said on Monday." More
- January 28, 2008 | Item | E-mail

Freewest Resources Acquires Mining Claims in Stanhope Region, Southern Quebec - More
- January 28, 2008 | Item | E-mail

Continental Announces Additions to Team to Advance the Xietongmen Project - More
- January 28, 2008 | Item | E-mail

Mosquito Receives Another Execellent Intersection at the Cumo Molybdenum Project - More
- January 28, 2008 | Item | E-mail

Andean Drills 18m of 67.7 g/t Gold and 1207 g/t Ag at Eureka West - More
- January 28, 2008 | Item | E-mail

Bancroft Uranium Contracts Greenspirit Strategies for Public and Media Relations -- Former Greenpeace President Dr. Patrick Moore Joins Advisory Board - More
- January 28, 2008 | Item | E-mail

ICS Copper Systems Ltd. - Mokambo project - Near surface drill results update - Cobalt identified - More
- January 28, 2008 | Item | E-mail

Mokambo Project - Near Surface Drill Results Update - Cobalt Identified - More
- January 28, 2008 | Item | E-mail

Mines Hope to Restart Production - "South Africa's gold mining industry hopes to resume production by the end of the week after power outages forced an unprecedented shutdown Friday and prompted concern about investment and growth prospects for the continent's biggest economy." More
- January 28, 2008 | Item | E-mail

Golden Tag & ECU Silver File 43-101 Report: Review of the Mineral Resource Estimate for the San Diego Project, Velardena Mining District, Durango State, Mexico - "Golden Tag Resources Ltd. (TSX VENTURE:GOG - News; "Golden Tag") and ECU Silver Mining Inc. (TSX:ECU - News; "ECU") are pleased to announce that the Independent NI 43-101 compliant technical report on the San Diego Project, Durango State, Mexico has been filed at www.sedar.com. The report is also available at www.goldentag.ca." More
- January 28, 2008 | Item | E-mail

G & S Minerals and Mayan Gold Announce Agreement in Principle for Strategic Cross-Investment and Gold Field Development - More
- January 28, 2008 | Item | E-mail

Wave Begins Field Work on Utah Properties - More
- January 28, 2008 | Item | E-mail

Pacific concludes 2007 drill program - Results of final 4 holes - and plans 2008 Crack Moly drill program - More
- January 28, 2008 | Item | E-mail

USCorp Reviews 2007 Accomplishments - More
- January 28, 2008 | Item | E-mail

Marathon's Growth Continues: Entering into Option and JV Agreement with Benton Resources on Bamoos - Claw Lake - Four Dam Property - More
- January 28, 2008 | Item | E-mail

China Shen Zhou Mining & Resources Announces Approval for Listing on the American Stock Exchange - More
- January 28, 2008 | Item | E-mail

Probe Mines Appoints Carmelo Marrelli as Chief Financial Officer - More
- January 28, 2008 | Item | E-mail

Kalimantan Gold Corporation Limited: Pollard Report Highlights Untested Potential at KSK Copper Gold Prospect - More
- January 28, 2008 | Item | E-mail

Nirek Resources Inc. Completes Acquisition for Eby-Otto Fault Zone Gold Property - More
- January 28, 2008 | Item | E-mail

Globex Options Bateman Bay Mine and Grandroy Mine; Copper Gold Properties - More
- January 28, 2008 | Item | E-mail

Teryl Resources Enters Into PR Contract With KCrew Communications Inc. - More
- January 28, 2008 | Item | E-mail

China Minmetals and Jiangxi Copper acquire approximately 96% of Northern Peru Copper - More
- January 28, 2008 | Item | E-mail

Constitution Mining Launches Corporate Website - More
- January 28, 2008 | Item | E-mail

White Mountain Administrative Update - More
- January 28, 2008 | Item | E-mail

Century Mining withdraws offer for Sulliden - More
- January 28, 2008 | Item | E-mail

Dorex Minerals Discovers Several Large High Magnetic Anomalies - More
- January 28, 2008 | Item | E-mail

Gold Fields Reports Sufficient Power Supply for Maintenance Work but Not for Production - "Further to the press release issued on Friday, January 25, Gold Fields Limited ("Gold Fields") (NYSE: GFI - News; JSE: GFI)(DIFX: GFI) reports that its power supply has been restored to 71% of total average consumption. Fifty percent of Gold Fields' normal electrical consumption is required simply to pump, ventilate and refrigerate its operations." More
- January 28, 2008 | Item | E-mail

Mawson stakes the Prastrun uranium-niobium-tantalum prospect in Sweden - More
- January 28, 2008 | Item | E-mail

Alberta Star Provides a Corporate and Exploration 2007-Year in Review - More
- January 28, 2008 | Item | E-mail

Senior Geophysicist Joins CanAlaska Uranium - More
- January 28, 2008 | Item | E-mail

Apogee Extends High Grade Silver-Zinc-Lead Mineralization at Pulacayo, Bolivia - "Apogee Minerals Ltd. (TSX VENTURE:APE - News) has received assays for an additional 4 drill holes from its ongoing diamond drilling program at the Pulacayo-Paca Silver-Lead-Zinc project (Figure 1 & 2, Table 1). These intersections continue to expand a thick zone of silver, zinc and lead mineralization in the center of the upper part of the world class Tajo Vein System at Pulacayo Silver Deposit (see press release dated January 8, 2008 for previous results)." More
- January 28, 2008 | Item | E-mail

Gold Resources Increase 14% at Seabridge's Noche Buena Project - "Seabridge Gold (CDNX:SEA.V - News)(AMEX:SA - News) announced today that Resource Modeling Inc. ("RMI") has updated its independent resource estimate for the Company's 100% owned Noche Buena project located in Sonora, Mexico. The updated resource estimate incorporates 33 holes (approximately 8,000 meters) drilled by Seabridge in 2007. An updated National Instrument 43-101 report will be filed on SEDAR within 45 days." More
- January 28, 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 un-drilled 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 28, 2008 | Item | E-mail

Endeavor Explorations Inc. Acquires Mineral Rights to Martin Lake Properties Near Uranium City, Saskatchewan, Canada - More
- January 28, 2008 | Item | E-mail

SAfrica mines hope to resume output later this week - "South African mining companies said on Monday they hoped to resume production later this week, but there was no official word on when a power crisis that has put jobs and economic growth at risk could ease." More
- January 28, 2008 | Item | E-mail

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