-- Posted 19 February, 2008 | | Source: SilverSeek.com

The Metals:

Gold steadily rose throughout world trade and climbed to as high as $930.50 by noon in New York before it came back off slightly in the last hour and a half of trade, but it still ended with a gain of 2.6% from Friday’s close and just 40 cents from setting a new record closing high.  Silver climbed to $17.57 before it also came back a bit, but it still ended with a gain of 2.2% at a new 27 year closing high.

Euro gold rose to about €629, platinum gained $92.50 to $2140 to a new record high, and copper rose over 10 cents to about $3.73.

Gold and silver equities rose throughout trade and ended with nearly 5% gains.

The Economy:

There were no major economic reports today, but an index showing increasing homebuilder confidence did have some talking.  Tomorrow at 8:30AM EST brings Building Permits for January expected at 1,040,000, Housing Starts expected at 1,015,000, CPI for January expected at 0.3%, and Core CPI expected at 0.2%.  At 2PM is the release of FOMC minutes from their January 30^th meeting.

The Markets:

Charts Courtesy of http://finance.yahoo.com/

Oil rose nearly 5% to back over $100 on supply concerns as worries escalated in Nigeria and Venezuela, OPEC hinted it won’t raise production at their next meeting, and several refinery problems developed as well.

The U.S. dollar index fell on expectations that China and Australia will hike interest rates to combat inflation while the outlook for US continues to be cutting rates due to worries about the economy.

Treasuries fell on worries that tomorrow’s CPI report will start to show increasing inflation due to recent fed rate cuts.

The Dow, Nasdaq, and S&P rose markedly in morning trade on a better than expected report from Wal-Mart, but all three indices turned lower mid-afternoon on inflation worries and closed with slight losses.

Among the big names making news in the market today were Medco, Staples, Credit Suisse, MBIA, Wal-Mart, and General Mills.

The Commentary:

“April Gold finished up 23.7 at 929.8, 4.2 off the high and 4.8 up from the low.

March Silver closed up 0.39 at 17.508. This was 0.108 up from the low and 0.092 off the high.

The gold market started out in a positive bias and then added to the gains into mid session. With the Dollar making another new low for the move early in the trading session and oil prices showing very strong gains it appeared as if gold was being supported from a number of different angles. In fact, in the face of a decent US NAHB Housing Index release (just after mid session) the gold market hardly budged away from its highs and that would seem to suggest that the gold market wasn't undermined by a better than expected US economic reading. In fact, the slight up tick in the NAHB Housing Index seemed to support stock prices and provide an added lift for silver, copper and platinum prices and that in turn probably lent some additional support to gold prices.

The silver market started out firm and seemed to maintain the strength throughout the trading session. In fact, silver seemed to feed off the strength in platinum and copper prices and even seemed to benefit from the slightly better than expected US NAHB housing index reading. With crude oil prices soaring and the US stock market showing positive action the silver market seemed to be getting support from its industrial demand base and also from its financial or flight to quality angle. Many traders attached significant weight to the fact that March managed to climb back above a recent critical even number zone of 17.50 on the charts.”- The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

U.S. banks borrow $50 billion from Fed against 'dodgy' collateral

Al Korelin interviews GATA's Murphy and Powell

Murphy's 'Midas' discloses international participation in GATA conference

Iran opens oil products exchange, plans one for oil itself

Britain nationalizes Northern Rock 'temporarily'

Iranian envoy suggests pricing Iranian oil in rubles

Cassandra of U.S. fiscal issues, Walker leaving Government Accountability Office

Ron Paul: Let's legalize competing currencies

The Statistics:

As of close of business: 2/15/2008

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: Change in Total Tonnes from yesterday’s data: The ASX added 0.37 tonnes and the JSE subtracted 0.62 tonnes.

COMEX Gold Trust (IAU)

Note: No change in Total Tonnes from yesterday’s data.

Silver Trust (SLV)

Note: No change in Total Tonnes from yesterday’s data.

The Stocks:

Entree’s (EGI) exploration, Banro’s (BAA) correspondence comments, Keegan’s (KGN) drilling, Tanzanian Royalty’s (TRE) private placement, Exeter’s (XRA) drill results, Northern Dynasty’s (NAK) assay results, Great Basin’s (GBN) updated resources, Goldcorp’s (GG) increase in gold reserves, Richmont’s (RIC) reserve increase, Gold Reserve’s (GRZ) progress report, Gammon Gold’s (GRS) operational indicators, Great Panther’s (GPR.TO) drill results, Endeavour’s (EXK) acquired properties, Oro Silver’s (OSR.V) 51% ownership in 18 mining concessions, Solitario’s (XPL) drill results, Valencia’s (VVI.V) interest transfer, and U.S. Silver’s (USA.V) production increases were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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:

Great Panther Extends Silver-Gold-Lead-Zinc Veins at the Topia Mine - "GREAT PANTHER RESOURCES LIMITED (Toronto:GPR.TO - News) is pleased to announce that ongoing drilling from surface and underground at the Company's 100% owned Topia Mine in Durango, Mexico continues to extend high grade silver, gold, lead and zinc mineralization along strike and to depth on several of the veins that are currently being mined." More
- February 19, 2008 | Item | E-mail

Latin American Minerals Reports Drilling has Started on its Tendal Massive Sulphide Project, Argentina - More
- February 19, 2008 | Item | E-mail

Explor Increases Kidd Township Property - More
- February 19, 2008 | Item | E-mail

Novawest acquires Iron-T Vanadium-Titanium-Iron Project - Strengthening its interests in strategic North American ferrovanadium projects - More
- February 19, 2008 | Item | E-mail

GWR Mobilizes Second Drill Rig at Lac La Hache - More
- February 19, 2008 | Item | E-mail

Entree Gold Commences Exploration in Southwestern U.S.A. - "Entree Gold Inc. (Toronto:ETG.TO - News)(AMEX:EGI - News)(Frankfurt:EKA.F - News) ("Entree" or the "Company") has commenced exploration of four newly generated porphyry copper targets in southeastern Arizona and southwestern New Mexico. Properties covering approximately 30 square miles (48 square kilometres) were acquired through an agreement between Entree and Empirical Discovery LLC (see news release - July 18, 2007). These properties overlay buried porphyry copper targets identified from regional geophysical and district scale geological data." More
- February 19, 2008 | Item | E-mail

Uranium Bay to Proceed With Non Brokered Private Placement - More
- February 19, 2008 | Item | E-mail

Milner Announces Exercise of Options and Grant of Stock Options - More
- February 19, 2008 | Item | E-mail

Marifil Mines Retains Ascenta Capital Partners Inc. for Investor Relations Services - More
- February 19, 2008 | Item | E-mail

Minterra Permits Drilling at Fish Project in Nevada - More
- February 19, 2008 | Item | E-mail

World Ventures Inc. Grants Stock Options - More
- February 19, 2008 | Item | E-mail

First Uranium could see delays from power crisis - More
- February 19, 2008 | Item | E-mail

Victory Nickel Announces Continued Progress at Lac Rocher Project - More
- February 19, 2008 | Item | E-mail

Matamec Begins A New Drilling Program on its Vulcain Nickel-Copper Property - More
- February 19, 2008 | Item | E-mail

Millrock and Alix Announce Exploration Program Plan for Divide Project, Nome, Alaska - More
- February 19, 2008 | Item | E-mail

Wesdome Gold Mines Ltd. - Surface Drilling - Shawkey 22 Zone - More
- February 19, 2008 | Item | E-mail

Further Rock Sampling Yields Encouraging Results on Golden Arrow's Pescado Project - More
- February 19, 2008 | Item | E-mail

Osisko Wins Bill Dennis Prospector of the Year Award - More
- February 19, 2008 | Item | E-mail

Banro comments on correspondence received from the DRC Minister of Mines - "Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") announces that on February 18, 2007, the Company received a letter from the Honourable Martin Kabwelulu, Minister of Mines for the Democratic Republic of the Congo (the "DRC"). The letter refers to certain surface tax issues and the liquidation of Sominki SARL. There are no issues with Banro's titles." More
- February 19, 2008 | Item | E-mail

Keegan Exploration Drilling Discovers New Parallel Gold Structure at Esaase Gold Projectand Extends the B-1 Structure - "The newly discovered D-1 mineralized structure appears to be a parallel zone to the A-1 fault which hosts Keegan's 43-101 compliant resource; the D-1 mineralized structure lies approximately one kilometer west of the A-1 structure and one km west of the B-1 structure. It appears to be mostly covered by alluvium or low lying vegetation. Drilling highlights include 17 meters of 3.64 g/t Au from hole 243 and 23 meters of 1.2 g/t Au from hole 242." More
- February 19, 2008 | Item | E-mail

La Josefina Drilling Hits 19.9 g/t Gold and 2100 g/t Silver - More
- February 19, 2008 | Item | E-mail

Noront Resources Ltd.: Drilling at Eagle One Further Defines Mineralization and PGE Testwork Reveals Presence of Significant Rhodium and Other Elements - More
- February 19, 2008 | Item | E-mail

American Creek announces Tide Project update and expansion of 36 Zone - More
- February 19, 2008 | Item | E-mail

Tanzanian Royalty Chairman Completes $1 Million Private Placement and $375,000 Fourth Tranche of C$3 Million Private Placement - "Tanzanian Royalty Exploration Corporation advises that, including this $1 million private placement and interest free advances to the Company to be applied towards the aggregate $3 million private placement (the "Placements"), the Company's Chairman and CEO, Mr. James E. Sinclair's total share placements to date aggregate in excess of $17 million." More
- February 19, 2008 | Item | E-mail

Tres-Or Resources Ltd.: Platinum/Palladium Mineralization on the Mann Property, Ontario - More
- February 19, 2008 | Item | E-mail

Semafo - Mana mill starts up - More
- February 19, 2008 | Item | E-mail

Full Metal and Partners Plan $17 million for 2008 Exploration in Alaska and Yukon - More
- February 19, 2008 | Item | E-mail

Canstar Resources Inc.: Decision Reached on Mary March Appeal Hearing, Newfoundland - More
- February 19, 2008 | Item | E-mail

Drilling Extends New Hinge #3 Zone for San Gold - More
- February 19, 2008 | Item | E-mail

Drilling Resumes at Gemini - More
- February 19, 2008 | Item | E-mail

Temex sets terms for East West earn in on claims near Noront Ni-Cu-PGE discovery - More
- February 19, 2008 | Item | E-mail

Laurion and Geoinformatics to Commence a Large VTEM Airborne Survey over Ni-Cu-PGE Targets in the Nipigon and Gowganda Areas, Ontario - More
- February 19, 2008 | Item | E-mail

Southern Hemisphere Mining Limited: Exercises Option to Purchase the Mantos Grandes Project From Sundance Resources Limited - More
- February 19, 2008 | Item | E-mail

Stratagold commences gold exploration program at Monosse, Guyana - More
- February 19, 2008 | Item | E-mail

Endeavour Acquires Navegantes Properties Near Parral District Chihuahua, Mexico - "Endeavour Silver Corp. (EDR: TSX, EXK: AMEX, and EJD: Frankfurt) announces that it has acquired an option to purchase the Navegantes silver properties, located approximately 80 km west of the city of Hidalgo de Parral in Chihuahua State, Mexico." More
- February 19, 2008 | Item | E-mail

Red Lake Exploration, Inc. Announces Options to Purchase Santa Rosa and Camila Mineral Properties in III Region, Chile - More
- February 19, 2008 | Item | E-mail

Pershimco Names New President & CEO - More
- February 19, 2008 | Item | E-mail

Marathon Announces Intention to Acquire Discovery PGM Corporation Creating Canada's Largest Pre-development PGM-Cu Resource - More
- February 19, 2008 | Item | E-mail

Goldcorp's 2007 gold reserves grew 9 percent - "Goldcorp Inc (G.TO: Quote, Profile, Research) said on Tuesday gold reserves grew nine percent and silver reserves jumped 37 percent last year, and the company plans to invest an extra $150 million in exploration in 2008." More
- February 19, 2008 | Item | E-mail

Andina Reports Volcan Gold Project Drill Results from the Ojo de Agua Area - More
- February 19, 2008 | Item | E-mail

Shoreham Resources Ltd.: Exploration Progress and Equipment Purchase Maple Creek-Potaro Gold and Diamond Properties, Guyana - More
- February 19, 2008 | Item | E-mail

Baffinland Announces Exceedingly Robust Economics for the Mary River Direct-Shipping Iron Ore Project - More
- February 19, 2008 | Item | E-mail

Dia Bras Signs an Option to Acquire a New Cu-Ag Property in Jalisco State, Mexico - More
- February 19, 2008 | Item | E-mail

Midland Exploration Inc.: Drill Program Commences on Maritime Cadillac Gold Property - More
- February 19, 2008 | Item | E-mail

USA Uranium Negotiates Exclusive Technology License - More
- February 19, 2008 | Item | E-mail

Little Squaw Terminates Livengood Bench Placer Agreement - More
- February 19, 2008 | Item | E-mail

Colibri initiates reverse circulation drilling program at the Colibri claim site - More
- February 19, 2008 | Item | E-mail

Anvil Mining Limited - Government Review of Dikulushi Mining Convention Conference Call Thursday, February 21 at 8:00 am (Toronto time) - More
- February 19, 2008 | Item | E-mail

Ascendant Increases its Offer for St. Genevieve U.S. Copper Portfolio and Secures Arrangement - More
- February 19, 2008 | Item | E-mail

Cadiscor Intersects the Depth Extension of IAMGOLD's Sleeping Giant Mine - More
- February 19, 2008 | Item | E-mail

PolyMet Appoints Frank Sims and Joe Scipioni to the Board - More
- February 19, 2008 | Item | E-mail

Romios Planning Aggressive $5 Million Exploration Program in Northwestern British Columbia in 2008 - More
- February 19, 2008 | Item | E-mail

Bellhaven & Dominion Extend Copper and Gold Mineralization and Report Summary Results at the Cerro Chorcha Porphyry Copper Project in Panama - More
- February 19, 2008 | Item | E-mail

DPM Exploration Identifies New Limestone Hosted Gold Mineralization in Serbia - More
- February 19, 2008 | Item | E-mail

General Moly Announces Closing of Mount Hope Joint Venture With POSCO - More
- February 19, 2008 | Item | E-mail

Duluth Metals options key infrastructure land parcel - More
- February 19, 2008 | Item | E-mail

Eaglecrest Strengthens Bolivian Exploration Team With Two Senior Appointments - More
- February 19, 2008 | Item | E-mail

East West Resource Corporation: Nickel-Copper-PGE Property Near Double Eagle Discovery Optioned From Temex - More
- February 19, 2008 | Item | E-mail

DOT Completes First Diamond Drilling Program - More
- February 19, 2008 | Item | E-mail

Moto Goldmines Limited: Update Regarding the DRC Mining Review - More
- February 19, 2008 | Item | E-mail

Goldex Resources Signs Contract With Eagle Mapping To Fly Land Positions in Mexican Gold and Silver Belt - More
- February 19, 2008 | Item | E-mail

Lake Shore Gold Announces Private Placement of $64.5 Million at 30% Premium and Forms Strategic Alliance With Hochschild Mining - More
- February 19, 2008 | Item | E-mail

Uranium North Awarded Exploration Permits on Baffin Island - More
- February 19, 2008 | Item | E-mail

Resource calculation to soon begin on Double S zone - More
- February 19, 2008 | Item | E-mail

American Uranium Announces New Board Member-Donald K. Cooper - More
- February 19, 2008 | Item | E-mail

Crosshair Appoints New President and COO - More
- February 19, 2008 | Item | E-mail

Liberty Star Defines South Half of Neola Breccia Pipe, Drill Hole 7 Will Test the Pipe to Depth - More
- February 19, 2008 | Item | E-mail

Oro Silver Acquires Majority Interest in 18 Mining Properties in Zacatecas, Mexico - "Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR - News) is pleased to announce that it has acquired 51% ownership in 18 mining concessions in the Zacatecas and Fresnillo silver districts, Mexico, and created a strategic alliance with its Mexican partners. This transaction completes the original deal contemplating the right of first refusal package referred to in Oro Silver's press release dated April 30, 2007." More
- February 19, 2008 | Item | E-mail

Solitario Resources Reports Final 2007 Drilling Results on Its Bongara Zinc Project, Peru; Intersects 5 Meters Grading 19.9% Zinc Lead and 30.8 GPT Silver - "Solitario Resources Corporation (AMEX:XPL - News) (TSX:SLR - News) announced that it has received the assay results for the final six core holes drilled in 2007 on its high-grade Bongará zinc-lead project in northern Peru. Highlights include drill hole V-15 that cut 5 meters grading 15.14% zinc, 4.75% lead and 30.82 grams per tonne silver. The 32-hole, 11,443 meter program, completed in late 2007, was managed and funded by Solitario's joint venture partner Votorantim Metais." More
- February 19, 2008 | Item | E-mail

Exeter Resource Corporation: Drilling Demonstrates Potential for Major Gold Copper Porphyry at Caspiche - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") reports that drilling at its Caspiche project, situated in the Maricunga region of Chile, has returned 218 metres (715 feet) of oxide zone gold mineralization (from a depth of 4 metres) in diamond drill hole CSD014." More
- February 19, 2008 | Item | E-mail

Northern Dynasty Minerals Ltd.: Summary of 2007 Pebble East Drill Hole Assay Results - "Ronald W. Thiessen, President and CEO of Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (Toronto:NDM.TO - News)(AMEX:NAK - News) is pleased to provide a summary of assay results from the 2007 drill program at the Pebble Project, located in southwestern Alaska." More
- February 19, 2008 | Item | E-mail

Ongoing Exploration Increases Measured & Indicated Resources by 41% at Great Basin Gold's Burnstone Project - "Great Basin Gold Ltd. (Toronto:GBG.TO - News)(AMEX:GBN - News)(JSE: GBG) ("Great Basin Gold" or the "Company") announces an update on the gold resources at its Burnstone Gold Project in the Witwatersrand Basin in South Africa." More
- February 19, 2008 | Item | E-mail

Goldcorp Announces 9% Increase in Gold Reserves - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) today announced that proven and probable gold reserves increased 9% in 2007 to 43.4 million ounces as of January 1, 2008. Proven and probable silver reserves increased 37% to 1.1 billion ounces." More
- February 19, 2008 | Item | E-mail

Valencia Agrees to Transfer Mt Bundy Project to New Gold Company - "Valencia Ventures Inc. (TSX VENTURE:VVI - News) is pleased to announce that it has entered into an agreement to transfer its interest in the Mt Bundy Gold Project (the "Project") in the Northern Territory, Australia to a new gold company." More
- February 19, 2008 | Item | E-mail

U.S. Silver Reports Achieving Production Increases of 86% Over Last 5 Months - "U.S. Silver Corporation (CDNX:USA.V - News) ("U.S. Silver" or the "Company") announces that production throughput in both the Galena and the Coeur mills increased significantly in January 2008 compared to 2007 3rd and 4th quarter levels." More
- February 19, 2008 | Item | E-mail

Richmont Mines Announces Reserve Increases and 2007 Production Results - "Richmont Mines Inc. (Toronto:RIC.TO - News)(AMEX:RIC - News), explores for, develops and produces gold in North America and operates two gold mines. Today, the Company announced 2007 production results and reserve and resource calculations as of December 31, 2007, based on a gold price of CAN$650/oz." More
- February 19, 2008 | Item | E-mail

Gold Reserve Inc. Provides Brisas Progress Report - "2007 was a landmark year for the Company’s Brisas gold copper project, achieving a number of positive milestones as we continue the advancement of the Brisas project towards production. The primary milestone of 2007 was the receipt of the Permit to Affect Natural Resources from the Venezuelan Ministry of the Environment which enabled us to begin the construction process at the Brisas Mine. We now are awaiting the Initiation Act to commence full-scale construction. There were also many other milestones and positive events that were achieved that continued the advancement of the Brisas project towards production." More
- February 19, 2008 | Item | E-mail

Gammon Gold Releases Ocampo Key Operational Indicators for January 2008 - "The Company, including both Ocampo and El Cubo, achieved production in January as planned, similar to December. In January, the Company produced a total of 9,246 ounces of gold and 400,075 ounces of silver or 16,429 gold equivalent ounces. Of this production, El Cubo contributed 3,353 ounces of gold and 155,889 ounces of silver or 6,150 gold equivalent ounces an increase of 22% over December at a cash cost of $518.80 per ounce a 36% decrease over December." More
- February 19, 2008 | Item | E-mail

- Chris Mullen, Gold Seeker Report

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