Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 5% on the Week

	Close	Gain/Loss	On Week
Gold	$944.35	-$1.15	+4.57%
Silver	$17.96	+$0.05	+5.00%
XAU	189.94	-0.33%	+7.12%
HUI	464.73	-0.23%	+6.82%
GDM	1400.34	-0.05%	+7.28%
JSE Gold	2544.36	-40.86	+12.2%
USD	75.52	-0.07	-0.68%
Euro	148.22	+0.05	+1.05%
Yen	93.57	+0.44	+0.72%
Oil	$98.81	+$0.58	+2.39%
10-Year	3.790%	+0.006	+0.26%
Bond	117.0625	-0.1875	+0.05%
Dow	12381.02	+0.79%	+0.27%
Nasdaq	2303.35	+0.16%	-0.79%
S&P	1353.11	+0.79%	+0.23%

If you blinked you missed it, but after remaining near unchanged in Asia and London gold plunged from yesterday’s COMEX close of $945.50 to as low as $935.20 between 9:45AM EST and 10:30 before it quickly rallied back to about unchanged by noon. It then waffled on either side of unchanged for the remaining hour and a half of trade and closed with a loss of 0.12% to barely fall from yesterday’s record high.

Silver fell from yesterday’s close of $17.91 to as low as $17.718 before it rallied to a new 27 year intraday high of $18.138 by early afternoon, but it then fell back off a bit in the last hour of trade and ended with a gain of 0.28% at a new 27 year closing high.

Euro gold fell to about €637, platinum fell $5.50 from yesterday’s record high to $2145.50, and copper fell a couple of cents to about $3.79.

Gold and silver equities fell over 2% about an hour into trade, but they then slowly rallied back higher for most of the rest of trade and ended with minimal losses.

There were no major economic reports today. All of this week’s economic reports:

Next week’s economic highlights include Existing Home Sales on Monday, PPI and Consumer Confidence on Tuesday, Durable Goods Orders and New Home Sales on Wednesday, GDP and Initial Jobless Claims on Thursday, and Personal Income and Spending, Core PCE Inflation, Chicago PMI, and Michigan Sentiment on Friday. Bernanke will also be speaking on Wednesday and Thursday to the House and Senate.

Oil found decent gains to get back near $99 despite economic demand worries as cold weather hit the Northeast US and geopolitical worries were raised by a Turkish troop incursion into Iraq.

The U.S. dollar index fell and treasuries rose in morning trade on economic worries that also dragged the Dow, Nasdaq, and S&P lower for most of trade, but rumors of a near term bailout for Ambac Financial reversed those moves late in the day and the Dow, Nasdaq, and S&P ended higher while treasuries dropped slightly and the dollar ended well off its early lows, but still with a minor loss.

Among the big names making news in the market Friday were Ambac Financial, GMAC, PG&E, California and Florida public schools, AQR, and Zwirn.

“Something smells mighty fishy to me about what is going on in this ETF of late. Some of us have long believed that the inherent flaw in this ETF is in its auditing process which is less than transparent. If the bad guys who comprise COT and are the price managers on behalf of the US monetary authorities needed another source of gold for the supply that they feed into the market to suppress the price, the ETF is a perfect vehicle for this. I find it a huge stretch of the imagination to see gold soaring into all time highs and the one major indicator of investment demand for that same metal sitting there unchanged when it comes to reported holdings for nearly two weeks! I just read this AM that platinum and palladium holdings in the London ETFs for those metals are soaring because of investment demand. Why then is the gold ETF not reporting a sharp increase in its holdings? To believe that nothing has changed in there is to believe that the sun rises in the West.”- Dan Norcini, JSMineset.com

“We are very close to "The Tipping Point" re gold, silver and the shares. The general public is still gold/silver clueless. That has begun to change with the BIG MONEY jumping on board now. The US financial market news continues to be lousy. The Fed will continue to blink on inflation. As this surrender is more widely acknowledged and accepted, the general public is going to pile into the sectors. THE LIGHT BULB WILL BE GLARING and it is away we go.”- From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com

“April Gold finished down 1.4 at 947.8, 4.7 off the high and 8.8 up from the low.

March Silver closed up 0.085 at 18.035. This was 0.265 up from the low and 0.045 off the high.

The gold market seemed to consolidate at lower price levels with pre-weekend profit taking coming into play after the sharp price gains seen this week. Gold seemed to be pressured early in the session by downward revisions in the US PPI and initial weakness in energy markets cooling some inflation anxiety concerns. A rebound in the Dollar off its lows also seemed to weigh on gold prices. Perhaps news that 4th quarter global jewelry demand fell 17% and that India's gold imports fell 72% compared to a year ago also encouraged some traders to book profits since the data shows soaring gold prices have cut into physical demand. But with oil prices rebounding later in the session and news Turkey launched another military offensive into northern Iraq provided some geopolitical support to gold that help to underpin prices.

Silver prices saw a choppy two sided trade. But an attempt to push the market higher was certainly limited by weakness in the rest of the metals with profit taking at times pushing silver into lower territory. Ideas that silver is relatively undervalued when compared to other metals have enhanced the metal's investment appeal and have attracted new buyers on price dips. Silver may have also been underpinned by rising inflation concerns tied to a push to new highs in the Continuous Commodity Index.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: 77.06 tonnes were added to the trust.

AngloGold’s (AU) suspended exploration in Columbia, Tanzanian Royalty’s (TRE) assay results, Newmont’s (NEM) failed talks with Indonesia, Royal Gold’s (RGLD) closed royalty acquisition, Canyon’s (CAU) completed feasibility study, Aurizon’s (AZK) new appointment, IRC’s (ROY) director resignation, Eldorado’s (EGO) resources and reserves, Lihir’s (LIHR) financial results, South American Silver’s (SAC.TO) drill results, and Silver Standard’s (SSRI) priced offering 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.

Castillian Announces Drill Results for 35 Holes from the Near-Surface Las Aguilas West Nickel-Copper-Platinum-Palladium Deposit, Argentina - More
- February 22, 2008 | Item | E-mail

Aldridge Minerals Appoints Charles M. Raymond to its Board of Directors - More
- February 22, 2008 | Item | E-mail

Vangold Receives Repayment of Loan From New Guinea Gold Corp. - More
- February 22, 2008 | Item | E-mail

Newcastle Minerals Ltd. - 43-101 Report Submitted on Iskut Gold-Copper-Molybdenum Deposit - More
- February 22, 2008 | Item | E-mail

Novawest Resources Inc. - Private Placement - More
- February 22, 2008 | Item | E-mail

Centenario Reports Initial Pan De Azucar Inferred Mineral Resource of 35.8 Million Tonnes, Grading 0.47% Copper, 0.20 g/t Gold, 2.1 g/t Silver and 0.011% Moly - More
- February 22, 2008 | Item | E-mail

Molycor Gold Corp.: High Grade Manganese Discovery in Nevada - More
- February 22, 2008 | Item | E-mail

Global Minerals Contracts AMC Consultants for 43 101 Report on Strieborna Silver Deposit, Slovakia - More
- February 22, 2008 | Item | E-mail

La Mancha Intersects High Grades at Ity that May Lead to a Significant Resource Upgrade - More
- February 22, 2008 | Item | E-mail

Tanzanian Royalty Traces Gold-bearing Shear Zones Along Strike Length of 2.2 Kilometres at Kigosi Project in Tanzania - "Tanzanian Royalty is pleased to announce that all assay results have been received from the Phase 5 drilling program on its Kigosi Gold Project. The Reverse Circulation (RC) drill program was completed in December 2007 and consisted of 64 holes aggregating 3,659 metres, bringing the total drilled at Kigosi to 16,958 metres in 378 holes." More
- February 22, 2008 | Item | E-mail

Marifil Mines Ltd.: Drill Results Show Important Amounts of Platinum at Marifil's Las Aguilas Property - More
- February 22, 2008 | Item | E-mail

Exploration Program Commences Adjacent to Atikwa Au-Cu Discovery - More
- February 22, 2008 | Item | E-mail

Indonesia, Newmont fail to agree mining divestment - "Talks between Indonesia and Newmont Mining Corp. (NEM.N: Quote, Profile, Research) over a widely-followed divestment plan collapsed on Friday, as Newmont said its shares in a local unit have been pledged against a $1 billion loan." More
- February 22, 2008 | Item | E-mail

High River Gold Acquires Nickel Deposit - More
- February 22, 2008 | Item | E-mail

Cangold Appoints Malcolm Burne to Board - More
- February 22, 2008 | Item | E-mail

Hawk Announces New Directors, a New Officer and Stock Option Grants - More
- February 22, 2008 | Item | E-mail

Spider, KWG and Freewest Receive Preliminary Aerotem2 Report on Freewest Option Property McFauld's Lake Area, Northern Ontario - More
- February 22, 2008 | Item | E-mail

Euromax commence drilling at Kazandol oxide-copper project in Macedonia - More
- February 22, 2008 | Item | E-mail

Benton Mobilizes Drill to New High Grade Nickel, Copper, Platinum and Palladium Discovery at Bark Lake - More
- February 22, 2008 | Item | E-mail

Acero-Martin Reports Results From 2007 Trenching Program - More
- February 22, 2008 | Item | E-mail

GobiMin Announces Completion of First Milestone in the IPO Progress of Its Subsidiary in the People's Republic of China ("China") - More
- February 22, 2008 | Item | E-mail

Philex Gold Announces the Result of Anglo American's Pre-Feasibility Study of the Boyongan Project - More
- February 22, 2008 | Item | E-mail

Spirit Exploration, Inc. Diversifies Its Mining Operations by Signing Acquisition Agreement to Purchase the Emerson Tungsten Mine in Nevada - More
- February 22, 2008 | Item | E-mail

Alix Announces First Phase of 2008 Drill Program for Chloride Property, Arizona - More
- February 22, 2008 | Item | E-mail

6,200 metres of surface drilling to test extension of Contact Zone - Roxmark mobilizes drill rig to test mineralization extensions on Northern Empire Gold Mine - More
- February 22, 2008 | Item | E-mail

Beaufield Drills 3411 Metres at Tortigny - More
- February 22, 2008 | Item | E-mail

Fortune Announces New Resource Estimate for Its Sue-Dianne Copper-Silver Deposit - More
- February 22, 2008 | Item | E-mail

Dr. Earl W. Abbott Named Director of Uranium 308 Corp. - More
- February 22, 2008 | Item | E-mail

Bancroft Uranium Begins Drilling Program at Monmouth Uranium Project - More
- February 22, 2008 | Item | E-mail

Southwestern Announces Annual General Meeting - More
- February 22, 2008 | Item | E-mail

Rolling Rock Resources Files Technical Report and Begins Scoping Study on the Monument Bay Gold Deposit - More
- February 22, 2008 | Item | E-mail

Sherwood Acquires 91.7% of Western Keltic Shares & Extends Offer for Remaining Shares - More
- February 22, 2008 | Item | E-mail

Globex Mining Enterprises Inc.: Update - Getty Royalty Property Nova Scotia - More
- February 22, 2008 | Item | E-mail

Denison Announces NI 43-101 Resource Estimates on Midwest A Deposit - More
- February 22, 2008 | Item | E-mail

Royal Gold Announces the Closing of the Marigold and El Chanate Mines Royalty Acquisition - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; Toronto: RGL - News), the leading precious metals royalty company, today announced that it has completed the acquisition of three royalties from AngloGold Ashanti (USA) Exploration Inc., a wholly-owned subsidiary of AngloGold Ashanti North America, for $13.75 million, previously disclosed in January 2008." More
- February 22, 2008 | Item | E-mail

South American Silver Corp. Announces Further Evidence of Silver Enrichment and a New Silver Zone at the Malku Khota Silver Property - "South American Silver Corp. ("SASC" or the "Company) (Toronto:SAC.TO - News) is pleased to announce the results from the next 7 holes at Malku Khota, Bolivia. Two holes are from the top of the Limosna ridge, four from the Wara Wara zone and one drill hole from the new Sucre zone located approximately 800 metres to the east of Wara Wara." More
- February 22, 2008 | Item | E-mail

Canyon Resources Completes Positive Reward Project Feasibility Study and Announces Additional Reserves - "Canyon Resources Corporation (Amex: CAU - News), has completed a positive economic feasibility study for its Reward Gold Project located near Beatty, Nevada. The feasibility study, prepared by Chlumsky, Armbrust & Meyer LLC of Lakewood, Colorado, envisions development of a conventional open pit mining, ore crushing, and heap leach gold production operation. The study recommends development of the project." More
- February 22, 2008 | Item | E-mail

Aurizon Announces New Appointment - "Aurizon Mines Ltd. (Toronto:ARZ.TO - News)(AMEX:AZK - News) is pleased to announce the appointment of Andre Roy as Mine Manager at Casa Berardi. Mr. Roy is a trilingual mining engineer with over 20 years of experience in mining operations and engineering consulting firms in Canada and Latin America. Mr. Roy earned his MBA from John Molson School of Business at Concordia University, and his M.A.Sc., Mining Engineering, Rock Mechanics, from Ecole Polytechnique." More
- February 22, 2008 | Item | E-mail

George Young resigns from International Royalty Corporation - "International Royalty Corporation (AMEX: ROY - News; TSX: IRC - News; the "Company") announced today that George Young has resigned as a Director and Vice President of the Company, effective January 31, 2008, to pursue other ventures." More
- February 22, 2008 | Item | E-mail

Eldorado Gold 2007 Mineral Reserves and Mineral Resources - "Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (Toronto:ELD.TO - News)(AMEX:EGO - News) ("Eldorado" the "Company" or "we"), is pleased to announce the Company's Mineral Resources and Mineral Reserves as of December 31, 2007 (Tables 1 and 2). Gold resource ounces in all categories increased by 33% and proven and probable reserve ounces increased by 13%. These increases are a direct result of our successful drill campaigns at our Turkish projects of Kisladag and Efemcukuru. In addition, iron ore reserves at the Vila Nova Iron Ore Project increased by 73%." More
- February 22, 2008 | Item | E-mail

Silver Standard Prices US$120 Million Convertible Notes Offering - "Silver Standard Resources Inc. ("Silver Standard") (Toronto:SSO.TO - News)(NasdaqGM:SSRI - News) announced today the pricing of its previously announced offering of US$120 million (US$138 million if the overallotment option granted to the initial purchasers is exercised in full) aggregate principal amount of senior unsecured convertible notes due March 1, 2028 (the "Convertible Notes") made pursuant to private placement exemptions." More
- February 22, 2008 | Item | E-mail

LGL's (Lihir Gold) Fiscal 2007 Financial Results - "Documents relating to these results, including the Financial Results, Management Discussion and Analysis and an overview presentation will be available on SEDAR shortly at (http://www.sedar.com) and on the Company's website: www.LGLgold.com. Also, a recording of the Company's discussion of these results is available on LGL's website." More
- February 22, 2008 | Item | E-mail

Anglogold Colombia exploration suspended -official - "A local Colombian environmental authority said on Friday it had ordered a halt to gold exploration by South African miner Anglogold Ashanti (ANGJ.J: Quote, Profile, Research) in Colombia's Tolima province to protect forest reserves." More
- February 22, 2008 | Item | E-mail

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