-- Posted 25 March, 2008 | | Source: SilverSeek.com

The Metals:

Gold rose to over $935 in London before it dropped near $925 by late morning in New York, but it then rallied back higher into the close and ended near its high of $936.00 with a gain of 1.8%.  Silver rose to $17.75 in London before it dropped near $17.30 by late morning in New York, but it then rallied back higher into the close and ended near its high of $17.81 with a gain of 4.2%.  Both metals have also exceeded their prior COMEX highs in after hours access trade at the time of writing (4PM EST).

Euro gold rose to over €598, platinum gained $81 to $1960, and copper gained nearly 5 cents to about $3.70.

Gold and silver equities rose over 4% by about an hour into trade, remained near their highs for the rest of the session, and closed just barely off their session highs with nearly 5% gains.

The Economy:

Also making economic news today was the S&P Case-Shiller home price index that fell a record 10.7% in the past year to add to the disappointment that Consumer Confidence fell to its lowest level in five years.  “The Conference Board's gauge of expectations for the next six months slumped to 47.9, the lowest since December 1973, when the Watergate scandal rocked the Nixon administration and an embargo by a group of Arab oil exporters was in effect, the report showed.”

Tomorrow at 8:30AM EST brings Durable Goods Orders for February expected at 0.8% and at 10AM is the New Home Sales report expected at 580,000.

The Markets:

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

Oil fell near $99 at one point and traded slightly lower for most of the session on worries over a U.S. recession, but it moved back above $101 and found a small gain by the close on cold weather forecasts and a weak dollar.

The U.S. dollar index fell and treasuries rose after economic data came in worse than expected and pushed interest rates lower.

The Dow, Nasdaq, and S&P remained near unchanged despite poor economic data as recession worries were offset by hopes for more interest rate cuts from the fed.

Among the big names making news in the market today were Goldman, Ford, 3Com, Bear Stearns, General Dynamics, Harris, and L-3.

The Commentary:

“April Gold finished up 16.3 at 935, 2 off the high and 9 up from the low.

May Silver closed up 0.69 at 17.8. This was 0.36 up from the low and 0.02 off the high.

The gold market started out higher, waffled around after the opening salvo, and then corrected ahead of mid session before regaining a clear cut upward tilt in the early afternoon action. Surprisingly the market wasn't undermined off the fear of too much slowing in the face of a sharp decline in Consumer Confidence and news of a sharp decline in US home prices. In other words, the gold market seemed to embrace the renewed slide in the US Dollar instead of the potential concern of US slowing. While the gold bulls might have been disappointed in the weakness in crude oil prices, sharp gains in grains, nearby pork prices and a host of soft commodity markets did seem to rekindle the inflationary expectation again. Some Press outlets were suggesting that renewed fund buying interest was back in play and that is not an insignificant assertion.

Like gold, silver started out firm, seemed to waffle slightly through the weak flow of US scheduled numbers before regaining its bullish momentum early in the afternoon trade. We suspect that strength in gold prices provided some lift to silver prices, but the possible return of fund buying interest in a host of physical commodity markets would seem to be a powerful tonic. Certainly weakness in the US Dollar contributed to the silver strength, but seeing the US equity market at times on Tuesday managing to extend its recent short covering efforts seems to have mitigated the attempt to rekindle US recession concerns.”- The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

Paul urges gold standard, abolition of Fed on CNBC

Ted Butler: All into silver now

The Statistics:

As of close of business: 3/24/2008

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 Note: Change in Total Tonnes from yesterday’s data: StreetTRACKS subtracted 3.07 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:

Fronteer’s (FRG) exploration program, Nevsun’s (NSU) Tabakoto sale, Apollo Gold’s (AGT) fourth quarter results, New Gold’s (NGD) definitive agreements, Seabridge’s (SA) drill program, Metalline’s (MMG) feasibility study progress, Great Panther’s (GPR.TO) drill results, Sterling Mining’s (SRLM.OB) mine update, Alexco’s (AXU) exploration program, Oro Silver’s (OSR.V) drill results, Silvermex’s (SMR.V) acquisition, and Scorpio’s (SPM.TO) drill results 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:

Stingray Copper Inc.: Starter Pit Area Drill Results Continue to Confirm Oxide Copper at El Pilar, Mexico - More
- March 25, 2008 | Item | E-mail

Coro Makes Initial US$1,000,000 Option Payment for Cerro Negro Copper Mine in Chile - More
- March 25, 2008 | Item | E-mail

Magnum Issues First NI 43-101-Compliant Uranium Resource on a Portion of its San Rafael Project, Utah - More
- March 25, 2008 | Item | E-mail

Important Extension to Copper-Zinc Mineralization Found by Abcourt at Aldermac Property - More
- March 25, 2008 | Item | E-mail

Gold Star Closes Private Placement - More
- March 25, 2008 | Item | E-mail

CMC Metals Ltd. - Silver Hart Mine Development Moves Forward - More
- March 25, 2008 | Item | E-mail

Franconia Minerals Corporation Adopts Shareholder Rights Plan - More
- March 25, 2008 | Item | E-mail

Geodex Reports Further Drill Assays From the Molybdenum-Rich East Flank Zone at Sisson Brook, New Brunswick - More
- March 25, 2008 | Item | E-mail

Inspiration Retains Launchpad Capital as Strategic Advisory Firm - More
- March 25, 2008 | Item | E-mail

Goldeye Explorations Limited: Sonia Property, Chile - More
- March 25, 2008 | Item | E-mail

CZM Announces Completion of 2007 Drill Results at TAG Gold Property - More
- March 25, 2008 | Item | E-mail

Norsemont Mining Announces Constancia Project Drill Results - More
- March 25, 2008 | Item | E-mail

Andean Extends Eureka West With 14m of 18.6 g/t Gold and 159 g/t Silver - More
- March 25, 2008 | Item | E-mail

Iberian Minerals Corp. Secures US $210 Million Debt Facility to Complete Aguas Tenidas Construction - More
- March 25, 2008 | Item | E-mail

New Jersey Mining Company Forms Joint Venture With Newmont - More
- March 25, 2008 | Item | E-mail

Golden Eagle Begins Rehabilitation of C Zone Gold Mill Site in Preparation for Construction - More
- March 25, 2008 | Item | E-mail

Rockcliff Hits Wide Mineralized Horizon with Multiple Zones of VMS Mineralization on the Kof Property at Snow Lake, Manitoba - More
- March 25, 2008 | Item | E-mail

Century Provides Update On Lamaque Production Expansion - More
- March 25, 2008 | Item | E-mail

Wave Uranium Adds State Lease Lands to Holdings in Southeastern Utah - More
- March 25, 2008 | Item | E-mail

Pan American Silver Announces Filing of Audited 2007 Financial Statements - "Pan American Silver Corp. (Toronto:PAA.TO - News)(NasdaqGS:PAAS - News) (the "Company") today reports that it has filed with the applicable Canadian securities regulatory authorities on SEDAR its 2007 audited financial statements and management's discussion and analysis in relation thereto." More
- March 25, 2008 | Item | E-mail

Metalline Mining Company Announces Progress on Feasibility Study - "Metallurgical studies on silver recovery indicates that silver in the zinc oxide materials report to the concentrate with better than 80% recovery of the contained silver. A resource model of the silver distribution in the oxide zinc material is being expedited to help determine whether recovery of by-product silver is economically justified, and various methods available to recover silver from the concentrate continue to be studied." More
- March 25, 2008 | Item | E-mail

Great Panther Extends Strike Length of Deep Mineralization at Guanajuato Mine; Drills 10.82 Metres @ 174g/t Silver and 0.75g/t Gold - "GREAT PANTHER RESOURCES LIMITED (Toronto:GPR.TO - News) is pleased to announce that continued deep diamond drilling at the Company's wholly-owned Guanajuato Mine in Guanajuato, Mexico is extending the silver-gold mineralization along strike to the southeast." More
- March 25, 2008 | Item | E-mail

Sterling Mining Company Sunshine Mine Update - "Resuming ore production from both the 2700 and 3100 levels is a very significant milestone on the Sunshine's path to long-term sustainable production and is key to meeting our 2008 forecast. Pursuing development to reach identified ore zones will also be a major component of our plan for increasing production over the next three years. Furthermore, ongoing development will establish additional drill stations for expanding exploration at the Sunshine Mine." More
- March 25, 2008 | Item | E-mail

Alexco Outlines 2008 Exploration and Development Plans at Keno Hill - "Alexco Resource Corp. (Toronto:AXR.TO - News)(AMEX:AXU - News) ("Alexco") is pleased to announce that it has initiated an expanded surface and underground exploration program in the Keno Hill silver district, Yukon Territory. The aim of the 2008 exploration program is to continue building on the success of the 2007 district exploration work while positioning the Company to make a construction decision early in 2009 at its newly defined Bellekeno silver-lead-zinc deposit." More
- March 25, 2008 | Item | E-mail

Hawthorne Further Consolidates Cassiar Gold Camp; Stakes 39,000 Hectares (Approx. 96,000 Acres) - More
- March 25, 2008 | Item | E-mail

East Delta Announces Re-opening of the Huaqiao Gold Mine - More
- March 25, 2008 | Item | E-mail

B2Gold Corp. Announces Commencement of Diamond Drill Program at the Kupol East & West Property, Russia - More
- March 25, 2008 | Item | E-mail

Romarco Appoints Brunk Chief Operating Officer - More
- March 25, 2008 | Item | E-mail

Caledonia Announces the Signing of a Fourth Cobalt Sales Agreement - More
- March 25, 2008 | Item | E-mail

Redcorp Ventures Ltd. - Financial and Operating Highlights for the Fourth Quarter and Year Ending December 31, 2007 - More
- March 25, 2008 | Item | E-mail

Genco Announces Drill Results From the San Rafael Underground Mine and Construction of a Portable 800 Sample Per Day Assay Lab - More
- March 25, 2008 | Item | E-mail

Klondike Star Pursuing TSX-V Listing - More
- March 25, 2008 | Item | E-mail

Semafo gold reserves and resources update - More
- March 25, 2008 | Item | E-mail

Bearclaw Announces Presence of Significant ppm U on Recently-Acquired James Bay Property - More
- March 25, 2008 | Item | E-mail

Bannerman Resources Reports RC Drilling at Goanikontes Nears Completion - More
- March 25, 2008 | Item | E-mail

Richview Resources Inc. Signs Loan Agreement for Up to Euro 20.0 Million - More
- March 25, 2008 | Item | E-mail

Zaruma Resources: New Copper Assays Continue to Expand Mineralization at Luz del Cobre - More
- March 25, 2008 | Item | E-mail

Marathon Cuts Best High-Grade Sulphide Zone at Ore Fault: 19.7m grading 4.61% Zn, 0.74% Cu, and 51.1g/t Ag - More
- March 25, 2008 | Item | E-mail

Trillium Acquires Land Adjacent to Pickle Crow Gold Mine - More
- March 25, 2008 | Item | E-mail

Western Warrior intersects multiple high-grade gold zones in diamond drilling at the Wampum Prospect - More
- March 25, 2008 | Item | E-mail

Fortune Minerals Purchases Additional Hemlo Assets - More
- March 25, 2008 | Item | E-mail

Eleven high priority targets identified at Joutel - More
- March 25, 2008 | Item | E-mail

Miranda Gold Corp. 2008 Drilling Forecast - More
- March 25, 2008 | Item | E-mail

Amarillo Provides Update on the Cerrito Prospect, Lavras Do Sul, Brazil. Known Mineralization Expanded, Definition Drilling Continues - More
- March 25, 2008 | Item | E-mail

Abacus, New Gold and Teck Cominco Sign Definitive Agreements on the Afton-Ajax Project - More
- March 25, 2008 | Item | E-mail

First Nickel Intersects 86.70 Metres of 0.55% Ni and 0.43% Cu on West Graham - More
- March 25, 2008 | Item | E-mail

Canadian Arrow Begins Consultations with Treaty No. 3 First Nations for Kenbridge Nickel Project - More
- March 25, 2008 | Item | E-mail

Breakwater Exercises Right of Purchase Under Myra Falls Mine Limited Partnership - More
- March 25, 2008 | Item | E-mail

Colorado Goldfields Signs Agreement to Resume Drill Program in Colorado - More
- March 25, 2008 | Item | E-mail

Alhambra Resources Ltd. - Diamond Drilling Results from Uzboy and Kirtoge - More
- March 25, 2008 | Item | E-mail

Fission Energy Commences Exploration at North Shore Project, Athabasca Basin - More
- March 25, 2008 | Item | E-mail

Motapa Diamonds Inc.: Gabon Uranium Exploration - More
- March 25, 2008 | Item | E-mail

$44 Million Uranium Exploration Budget on Mega's Properties in 2008 - More
- March 25, 2008 | Item | E-mail

Pitchstone Exploration Ltd.: Gabon Uranium Exploration - More
- March 25, 2008 | Item | E-mail

CanAlaska appoints past Dene Chief Victor Fern to Board - More
- March 25, 2008 | Item | E-mail

Fronteer's Global Exploration Program Aims to Double Gold Resource Base - "We believe there is an opportunity for Fronteer to become the next high-quality, mid-tier company in the gold sector," says Fronteer President and CEO Dr. Mark O'Dea. "Over the next two years, we aim to add another five-million gold-equivalent ounces to our resource base and advance key projects toward development. Several of our most exciting projects are currently unquantified in terms of their size and intrinsic value and are anticipated to play an important role in Fronteer's near-term growth." More
- March 25, 2008 | Item | E-mail

Nevsun Resources Ltd.: Tabakoto Sale - "Nevsun Resources Ltd. (Toronto:NSU.TO - News)(AMEX:NSU - News) ("Nevsun") is pleased to announce that it has entered into an agreement for the sale of all of its interests in properties in Mali, including the Tabakoto Mine, the Segala property and exploration properties." More
- March 25, 2008 | Item | E-mail

Oro Silver Drills 8.2 g/t Au and 89 g/t Ag Over 2.6 Metres; Extends the Adit Zone at El Compas Mine, Zacatecas, Mexico - "Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR - News) is pleased to report encouraging results from its drilling program at its El Compas Mine property in Zacatecas, Mexico. The drilling confirms and expands the gold and silver continuity of the El Compas Adit zone." More
- March 25, 2008 | Item | E-mail

Silvermex Resources Ltd. Acquires the La Frazada Mine, Nayarit, Mexico - "Silvermex Resources Ltd. (CDNX:SMR.V - News) announces it has staked a 360 hectare concession along the South West margin of the Sierra Madre Occidental, in the historic mining district of Real del Zopilote, in the state of Nayarit. The past producing La Frazada Silver Mine is located approximately 300 km North West of Guadalajara and less than 100 km south of the Company's San Marcial project." More
- March 25, 2008 | Item | E-mail

Apollo Gold Reports Fourth Quarter and Year End 2007 Results - "Apollo recorded net income of $2.5 million for the fourth quarter of 2007 as compared to a net loss of $3.4 million for the fourth quarter 2006. Apollo recorded a net income of $2.4 million, or $0.02 per share, for the year ended December 31, 2007, compared to a net loss of $15.6 million, or $0.13 per share, for the year ended December 31, 2006." More
- March 25, 2008 | Item | E-mail

New Gold Inc., Abacus Mining and Exploration Corp. and Teck Cominco Limited Sign Definitive Agreements Respecting Afton-Ajax Cu-Au District - "New Gold Inc. (Toronto:NGD.TO - News)(AMEX:NGD - News) is pleased to announce that it has signed two definitive agreements, one with Abacus Mining and Exploration Corp. ("Abacus") (the "Two Party Agreement") and the other with Abacus and Teck Cominco Limited ("Teck") (the "Three Party Agreement") addressing the co-operative development of their respective assets in the Afton-Ajax Cu-Au district. The two agreements were the subject of Letters of Intent, the particulars of which were described in a Press Release dated October 30, 2007." More
- March 25, 2008 | Item | E-mail

Scorpio Defines the "Jewel Box" Trend within the Northwest Sector of the Nuestra Senora Zone with Underground Drilling Reporting 669 g/t Ag, 10.52% Zn, 3.01% Cu - "Scorpio Mining Corporation (TSX:SPM - News) is pleased to report additional underground drill results targeting the Northwest zone of the Nuestra Senora deposit between the 10th and 12th levels of its 100% owned Nuestra Senora project, Sinaloa State, Mexico. The most recent intersection in diamond drill hole NS8L-08-81 and others demonstrate that the high-grade "Jewel Box" zone is continuous over a vertical distance of 60 metres and is easily accessible from the main ramp which is now close to the 12th level." More
- March 25, 2008 | Item | E-mail

Seabridge Gold to Drill 15,000 Meters at KSM Project in 2008 - "Seabridge Gold (CDNX:SEA.V - News)(AMEX:SA - News) announced today that it will undertake a $7.6 million, 15,000 meter core drill program at its 100% owned Kerr-Sulphurets-Mitchell ("KSM") project, located near Stewart, British Columbia, Canada. The program, expected to commence in June, is designed to improve the value of the asset by exploring for higher grade zones, upgrading more of the remaining inferred mineral resources to the indicated category and further expanding the Mitchell zone." More
- March 25, 2008 | Item | E-mail

- Chris Mullen, Gold Seeker Report

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