Gold Seeker Closing Report: Gold and Silver Gain 1.5% and 3%

	Close	Gain/Loss
Gold	$948.80	+$14.10
Silver	$18.30	+$0.54
XAU	184.42	+2.76%
HUI	459.21	+1.92%
GDM	1384.48	+2.18%
JSE Gold	2512.76	+38.24
USD	71.45	+0.24
Euro	158.10	+2.01
Yen	100.67	+0.83
Oil	$105.90	+$4.68
10-Year	3.494%	+0.002
T-Bond	118.8125	-0.25
Dow	12422.86	-0.88%
Nasdaq	2324.36	-0.71%
S&P	1341.13	-0.88%

Gold fell to $934.37 by late trade in Asia before it rose to as high as $951.80 by noon EST and then fell back off slightly in afternoon trade, but it still ended near that session high with a respectable gain of 1.5%. Silver fell to $17.64 by late trade in Asia, but it then rose to as high as $18.33 by late trade in New York and closed near that high with a gain of 3%.

Euro gold rose near €602, platinum gained $30 to $1990, and copper gained roughly 5 cents to about $3.75.

Gold and silver equities rose over 1% at the open and remained at about that level in morning trade before dipped slightly in early afternoon trade, but they then rallied back higher into the close and ended with about 2% gains.

Report	For	Reading	Expected	Previous
Durable Goods	Feb	-1.7%	0.8%	-4.7%
New Home Sales	Feb	590K	580K	601K

New Home Sales fell to a 13 year low, but they did come in slightly higher than expected and somewhat offset the much worse than expected Durable Goods data. Also making economic news today were some comments from treasury secretary Paulson who cautioned that the fed’s recent policy of opening the discount window to investment banks may not necessarily be permanent and instead sets a precedent only for unusual periods of turmoil.

Oil rose over 4% on a weaker dollar, a 24-hour strike in France, and poorer than expected inventory reports. Crude inventories were unchanged, gasoline inventories fell 3.3 million barrels, distillates fell 2.2 million barrels, and refinery runs fell 1.6% to 82.2%.

The U.S. dollar index fell as poor economic data in the US made it more likely the fed will continue to cut interest rates while a strong German business sentiment survey made it more likely that the European Central Bank will not lower interest rates as many have been looking for.

Treasuries rose on the short end on poor economic data and on a $28 billion 2-year note auction that came off at a yield of 1.761%, but longer dated bonds fell as investors shunned the idea of loaning the government money for such a long time at current low yields.

The Dow, Nasdaq, and S&P fell on poor economic data that raised recession worries.

Among the big names making news in the market today were Tata and Ford, Motorola, Take-Two and Electronic Arts, Citigroup, and Clear Channel.

“Several factors were working in gold’s favor in today’s session, most notably the weaker dollar and a stronger crude price. I have to admit, that I have been surprised by the sheer rapidity at which the support under the dollar has evaporated. It would seem traders finally woke up and asked themselves the same question I have been asking since last week, “What exactly is it that Bernanke and company did that was supposedly so dollar friendly?” The answer to that question is “nothing”. If anything, they undercut the dollar as they have promised endless mountains of liquidity and lower interest rates, something from which my understanding of currency valuation never bodes well for one’s domestic currency unit. As it now stands, the dollar is less than a full point away from its contract low.” - Dan Norcini, More at JSMineset.com

“April Gold finished up 14.2 at 949.2, 3.3 off the high and 8.3 up from the low.

May Silver closed up 0.583 at 18.383. This was 0.493 up from the low and 0.007 off the high.

The gold market extended gains this session garnering support from further weakness in the Dollar and a sharp rally in energy prices prompting investors to buy gold as an inflation hedge. Weak readings for Feb durable goods and Feb new home sales has raised the odds of another Fed rate cut which certainly supports the bull case in gold. On going concerns in the credit markets and the renewed weakness in the Dollar seems to be driving investors back to physical commodity markets after last week's sell off and that is certainly benefiting gold. The gold market also seems to be garnering some support from ideas that last week's sell off was over done.

The silver market registered sharp gains also finding support from the slide in the Dollar which seems to be redirecting fund buyers back to the physical commodity markets after last week's exit. The silver market easily shrugged off the weak economic news and with oil prices surging, it seemed as stagflation concerns were driving investors back to silver. Rising expectations for the Fed to cut interest rates again seems to be offsetting concerns the US economy is sliding toward a recession. Seeing solid gains in gold and copper also helped to underpin silver prices as well.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The ASX added 0.35 tonnes and the JSE added 0.12 tonnes.

Yamana’s (AUY) fourth-quarter results, Exeter’s (XRA) closed financing and drill results, NovaGold’s (NG) closed public offering, ITH’s (THM) property acquisition, Apollo Gold’s (AGT) LOI to acquire a stock mill, Northgate’s (NXG) MOU with Matachewan First Nation, Fortuna’s (FVI.V) exercised warrants, U.S. Silver’s (USA.V) hiring of geologists, and Silvercorp’s (SVM.TO) normal course issuer bid 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.

MPH Ventures Reports Significant Strike Extensions at Pidgeon Molybdenum Deposit in NW Ontario - More
- March 26, 2008 | Item | E-mail

Metalore Resources Limited - News Release - More
- March 26, 2008 | Item | E-mail

Fortuna Warrants Exercised - "Fortuna Silver Mines Inc. (CDNX:FVI.V - News): Jorge Ganoza, the President of Fortuna Silver Mines, is pleased to announce that, since the beginning of the year 4.37-million outstanding share purchase warrants, with an exercise price of $1.85, have been exercised for cash proceeds to the Company of approximately CDN$8.1-million dollars." More
- March 26, 2008 | Item | E-mail

GBS Gold Appoints Peter Breese as President & CEO - More
- March 26, 2008 | Item | E-mail

Landore Resources Limited (AIM Ticker: LND.L) - West Graham - First Nickel Option Drilling Update - More
- March 26, 2008 | Item | E-mail

Landore Resources Limited - Junior Lake-VW Nickel Project Resource Upgrade Statement - More
- March 26, 2008 | Item | E-mail

Noront Resources Commences Work Programme on Hawk 50/50 JV Property-"Ring of Fire" Area, McFaulds Lake - More
- March 26, 2008 | Item | E-mail

Exeter Closes $35 Million Financing - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") announces that it has closed the private placement of 7,780,000 special warrants at a price of C$4.50 per special warrant announced on March 6, 2008. The offering was conducted by a syndicate of underwriters led by Canaccord Capital Corporation and BMO Capital Markets and including National Bank Financial, Dundee Securities and Haywood Securities. The Company raised gross proceeds of C$35,010,000." More
- March 26, 2008 | Item | E-mail

Crescent Resources Files NI 43-101 Report for Oviedo Uranium Project, Paraguay - More
- March 26, 2008 | Item | E-mail

Oriel Resources Plc: Holding(s) in Company and Share Trade - More
- March 26, 2008 | Item | E-mail

Colossus Minerals Inc. Corporate Update - More
- March 26, 2008 | Item | E-mail

Final 2007 Drill Results Expand Size of Lewis Property Virgin Zone Mineralization, Along Strike and to Depth - More
- March 26, 2008 | Item | E-mail

Metalex, Arctic Star and WSR Gold Execute Definitive Agreement for "Ring of Fire" Properties - More
- March 26, 2008 | Item | E-mail

Pelangio Advised of Excellent Results from Preliminary Metallurgical Testwork at Detour Lake, Ontario - More
- March 26, 2008 | Item | E-mail

Richmond Minerals Inc. - Exploration Update - More
- March 26, 2008 | Item | E-mail

Millrock Announces Acquisition of Ketchem Gold Property, Circle District, Alaska - More
- March 26, 2008 | Item | E-mail

Avion Resources to Reschedule Conference Call to Discuss Proposed Acquisition of Tabakoto and Segala Gold Projects in Mali - More
- March 26, 2008 | Item | E-mail

Lincoln Gold Announces Appointments of Director and Chief Financial Officer - More
- March 26, 2008 | Item | E-mail

Millstream Cuts 29.88% Lead and 19.42 Oz Silver Per Ton in Underground Drift at Tamarack Gold Property - More
- March 26, 2008 | Item | E-mail

Osisko Confirms New Bulk Tonnage Gold Target in Western Porphyry Zone - More
- March 26, 2008 | Item | E-mail

International Wayside Gold Mines Ltd.: Pre-feasibility Study Undertaken - More
- March 26, 2008 | Item | E-mail

Bolero Resources Corp. announces management appointments - More
- March 26, 2008 | Item | E-mail

Yellowcake Applies for Drilling Permit on Uravan-Beck Project, for Phase Uranium Conformation - More
- March 26, 2008 | Item | E-mail

Pacific Comox Starts Drill Program on Mabel Gold, Silver, Copper Property in Mexico - More
- March 26, 2008 | Item | E-mail

Norsemont Mining Increases Control over Constancia Project to 100% - More
- March 26, 2008 | Item | E-mail

Bruce Power shuts Ontario Bruce 4 reactor for work - More
- March 26, 2008 | Item | E-mail

Avnel has commenced drilling program on the major gold anomaly discovered on the Fougadian Permit - More
- March 26, 2008 | Item | E-mail

Inmet Mining Announces Injunction Against Cerattepe Project - More
- March 26, 2008 | Item | E-mail

Atomic signs exploration services contract in Tanzania - More
- March 26, 2008 | Item | E-mail

Romarco Intercepts 27.5 Meter Zone of 2.2 g/t at Haile - More
- March 26, 2008 | Item | E-mail

Kobex Resources Ltd.: Quality Assurance/Quality Control Program on Historical Drilling Completed - More
- March 26, 2008 | Item | E-mail

Nilam Resources Inc. Currently Negotiating Additional Major Acquisition that Exceeds One Billion Dollars USD in Gross Revenue - More
- March 26, 2008 | Item | E-mail

Genco Discovers Significant Mineralization through Reconnaissance Drilling - More
- March 26, 2008 | Item | E-mail

Redcorp Ventures Ltd.: Portugal Exploration Update - More
- March 26, 2008 | Item | E-mail

Amera Announces $1 Million Private Placement - More
- March 26, 2008 | Item | E-mail

Victory Nickel Announces Appointment of Steve Harapiak as President and COO - More
- March 26, 2008 | Item | E-mail

Franconia Launches New Drill Program at Red Knoll Copper Project, Arizona - More
- March 26, 2008 | Item | E-mail

Ivany Mining to Commence an Airborne Geophysical Survey Over Pb/Zn Target area on the Zama Lake Project in Northern Alberta - More
- March 26, 2008 | Item | E-mail

ANDINA: Ojo de Agua Drilling Returns 48 Metres Grading 2.54 g/t Gold - More
- March 26, 2008 | Item | E-mail

Eloro Drills Significant Sulphide Mineralization at Delta Property, James Bay Mining District - More
- March 26, 2008 | Item | E-mail

Drill Permit received for Ravin Molybdenum/Tungsten Property in Nevada - More
- March 26, 2008 | Item | E-mail

Serengeti Intersects 610 Meters Grading 0.74% Copper, 0.78 g/t Gold Including 75 Meters of 2.28% Copper, 1.92 g/t Gold at Kwanika - More
- March 26, 2008 | Item | E-mail

Shares of Bellhaven Copper & Gold Now Trading on the Frankfurt and Berlin Stock Exchanges - More
- March 26, 2008 | Item | E-mail

Champion Minerals Signs a Provisional Agreement With Labec Century Iron Ore Corporation to Finance Exploration and Development of the Attikamagen Property - More
- March 26, 2008 | Item | E-mail

Olympus Announces Management Reorganization - More
- March 26, 2008 | Item | E-mail

Liberty Star Changes Direction in Alaska - Seeks Major Partner in Porphyry Copper-Gold-Moly Targets - More
- March 26, 2008 | Item | E-mail

Skygold Drilling Continues to Expand Main Zone and Increases Property Potential with High Grade Intersection 2.2km Away from Main Zone - More
- March 26, 2008 | Item | E-mail

AuEx Ventures, Inc.: Bunce Assay Results - More
- March 26, 2008 | Item | E-mail

Aquila Expands Near Surface Gold Mineralization at the 90 Gold Zone - More
- March 26, 2008 | Item | E-mail

Houston Lake Mining Intersects More High Grade Gold Mineralization at Dubenski Shaft Zone - More
- March 26, 2008 | Item | E-mail

Piedmont Mining Reports 110 Feet of 2.24 Ounces of Silver Per Ton at Trinity - More
- March 26, 2008 | Item | E-mail

Castillian Starts 6,750 line Km Helicopter-VTEM Magnetic and Electromagnetic Survey on the Kagera Project, Tanzania - More
- March 26, 2008 | Item | E-mail

Aurelio Continues to Expand Mineral Holdings in the Turquoise Mining District of Arizona - More
- March 26, 2008 | Item | E-mail

Yamana Gold sees payoff from more modest approach - "After last year's big acquisition push, Canadian miner Yamana Gold (YRI.TO: Quote, Profile, Research) says it now sees advantages in taking a more modest approach to growth and will stick to smaller-scale developments in 2008 that are close to existing infrastructure.

In a commentary after releasing its fourth-quarter results late on Tuesday, Yamana said that in 2008 it hopes to skirt the risk of cost overruns that typically accompany large projects. It targets production of 1.3 million gold equivalent ounces in 2008 and 2.2 million ounces by 2012." More
- March 26, 2008 | Item | E-mail

U.S. Silver Corporation Is Pleased to Announce the Hiring of Senior Level Geologists - "U.S. Silver Corporation (CDNX:USA.V - News) ("U.S. Silver" or the "Company"), is pleased to announce the hiring of Greg Nickel and Jeffrey Moe." More
- March 26, 2008 | Item | E-mail

U.S. Energy Corp. Announces Completion of Quality Assurance/Quality Control Program at "Lucky Jack" Molybdenum Project - More
- March 26, 2008 | Item | E-mail

Ur-Energy Completes C$2.75M Flow-Through Private Placement Financing, Cancels Option Agreement With Titan Uranium - More
- March 26, 2008 | Item | E-mail

Commander Samples 0.17% U3O8 Over 1.15 Metres at Hermitage - More
- March 26, 2008 | Item | E-mail

Sparton Reports Encouraging Leach Test Results From Lincang Area Coal Ash - More
- March 26, 2008 | Item | E-mail

Energy Fuels Significantly Increases Compliant Resource with Updated Whirlwind NI 43-101 Technical Report - More
- March 26, 2008 | Item | E-mail

NovaGold Closes US$95 Million Public Offering - "NovaGold Resources Inc. (Toronto:NG.TO - News)(AMEX:NG - News) today announced that it has successfully closed its public offering of US$95.0 million aggregate principal amount of its senior convertible notes due May 1, 2015 ("Notes") for net proceeds, before deducting estimated offering expenses, of US$92.15 million." More
- March 26, 2008 | Item | E-mail

Exeter Drilling Returns Major Gold/Copper Intersections on Caspiche Porphyry Discovery in Chile - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") is pleased to report that diamond drill hole CSD-015, on its Caspiche gold/copper porphyry project in Chile, has returned an intersection of 632.1 meters (2,074 feet) at a grade of 0.70 grams per tonne gold (0.020 ounces per ton) from a depth of 57.95 meters (190 feet)." More
- March 26, 2008 | Item | E-mail

ITH Acquires Strategic Base Metals Property Adjoining BMP Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") (CDNX:ITH.V - News)(AMEX:THM - News)(Frankfurt:IW9.F - News) is pleased to announce it has executed an agreement with respect to the exploration and option to lease of key exploration ground adjoining the Company's BMP claim block from Cook Inlet Region, Inc. (CIRI), an Alaska Native Corporation." More
- March 26, 2008 | Item | E-mail

Silvercorp Metals Inc.: Normal Course Issuer Bid - "Silvercorp Metals Inc. ("Silvercorp") (Toronto:SVM.TO - News) advises that the Normal Course Issuer Bid announced March 21, 2008 will commence at market open March 28, 2008 and continue until no later than March 27, 2009. Under the Issuer Bid, Silvercorp may on any trading day purchase up to 137,841 shares, being 25% of the average daily trading volume for the most recently completed six calendar months." More
- March 26, 2008 | Item | E-mail

Apollo Gold Corporation Signs Letter of Intent to Acquire Stock Mill and Related Assets from St Andrew Goldfields Ltd. - "Apollo Gold Corporation (TSX:APG - News) (AMEX:AGT - News) and St Andrew Goldfields Ltd. (TSX:SAS - News) announced that they have signed a non-binding letter of intent pursuant to which St Andrew will sell its Stock Mine property, including its mill and related equipment, infrastructure, laboratory and tailings facilities, located near Timmins, Ontario, to Apollo Gold for a purchase price of $20 million." More
- March 26, 2008 | Item | E-mail

Matachewan First Nation signs Memorandum of Understanding with Northgate Minerals Corporation - "Northgate Minerals Corporation (TSX: NGX, AMEX: NXG) and the Matachewan First Nation are pleased to announce that they have signed a Memorandum of Understanding ("MOU"), establishing a commitment by both parties to the development of Northgate's Young-Davidson project in Matachewan, Ontario." More
- March 26, 2008 | Item | E-mail

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