Gold Seeker Closing Report: Gold and Silver Gain Over 1% and Miners Gain Over 4%

	Close	Gain/Loss
Gold	$895.30	$11.80
Silver	$17.13	+$0.285
XAU	180.30	+4.30%
HUI	445.35	+4.56%
GDM	1334.60	+4.15%
JSE Gold	2402.69	+11.01
USD	72.23	-0.32
Euro	156.88	+0.86
Yen	97.62	-0.47
Oil	$104.83	+$3.85
10-Year	3.583%	+0.038
T-Bond	117.453125	-0.1875
Dow	12608.92	-0.36%
Nasdaq	2361.40	-0.06%
S&P	1367.53	-0.19%

Gold rose to $894.10 by late trade in Asia and early trade in London before it fell to as low as $880.90 by early trade in New York, but it then rallied higher for the rest of the day and ended at a new session high with a gain of 1.3%. Silver rose to $17.132 and fell to $16.687 before it also rallied back higher for the rest of trade and ended with a gain of 1.7%. Both metals have continued to rise about another 1% more in after hours access trade at the time of writing (4PM EST).

Euro gold rose near €572, platinum gained $47 to $1942, and copper gained roughly 6 cents to about $3.88.

Gold and silver equities steadily rose throughout trade and ended with over 4% gains.

Report	For	Reading	Expected	Previous
ADP Employment	Mar	8K	-45K	-18K
Factory Orders	Feb	-1.3%	-0.8%	-2.3%

Bernanke conceded the possibility of a recession and vigorously defended recent action taken with Bear Stearns in testimony before the Joint Economic Committee today. Bernanke said the fed’s actions were necessary to insure the stability of the financial system and that if no action had been taken then the entire system could have collapsed due to counter party risk.

Tomorrow will be JP Morgan Chairman Dimon and Bear Stearns CEO Schwartz testifying before the senate banking committee about the recent moves by those companies. Fed Chairman Bernanke, Secretary Treasurer Paulson, US Securities and Exchange Commission Chairman Cox, and New York Federal Reserve Bank President Geithner will also be joining them.

Also tomorrow at 8:30AM EST is the Initial Jobless Claims report for 3/29 expected at 365,000 and at 10AM is the ISM Services report for March expected at 48.5.

Oil fell back below $100 immediately following the announcement that crude inventories built more than expected, but it soon followed gasoline higher and ended with notable gains “after the Energy Department reported an unexpected jump in gasoline demand.” Oil inventories rose 7.4 million barrels, gasoline inventories fell 4.5 million barrels, distillates fell 1.6 million barrels, and refinery utilization rose 0.2% to 82.4%.

The U.S. dollar index rose in early trade after the better than expected ADP Employment report raised hopes that the government jobs report on Friday will come in better than the current expectations of a decrease of 50,000 payrolls, but the dollar then fell off in late trade and ended decently lower on recession worries and credit fears as the euro also found strength on higher than expected Euro-zone industrial producer prices.

Treasuries ended slightly lower on mixed economic data and different forecasts over future economic data.

The Dow, Nasdaq, and S&P traded mixed and near unchanged in morning action as traders digested Bernanke’s remarks and looked ahead to Friday’s jobs report and upcoming earnings results, but all three indices fell off slightly in afternoon trade and ended lower on worries over a late surge higher in oil and gold prices.

Among the big names making news in the market today were Monsanto, Fannie Mae, Best Buy, and Carmax.

“My position on timing and price is that Gold will trade at USD $1650 before the second week of January 2011.

I am offering a $1,000,000USD wager to a financially qualified party that this will occur within the stated timeframe. Any party on Bloomberg, CNBC or CNN-Business stating an opposite opinion on the price of gold should be informed of this challenge.

Please communicate to ANY vocal bearish so-called gold expert that I challenge them to put their money on their views.

Any commentator unable to financially meet this challenge should not be opining. If they really knew the gold and currency market they could easily meet the challenge.

I am relying on you CIGAs to forward this challenge to any vocal bear, suggesting they stop flapping their lips by putting up or shutting up. It is one thing to hide behind a computer screen. It is another to bet the ranch on the view you promote.” - Jim Sinclair, More at JSMineset.com

“April Gold finished up 12.3 at 895.2, equal to the high and equal to the low.

May Silver closed up 0.29 at 17.18. This was 0.36 up from the low and 0.01 off the high.

The gold market initially waffled around unchanged but seemed to gather a little momentum into mid session. Continued weakness in the Dollar, a slight bounce in energy prices and a more coordinated rise in grain prices seemed to provide a better roadmap for the metals markets. In fact, seeing the US equity market countervail the slightly disappointing US Factory Orders release might have helped the gold market discount macro economic slowing concerns. The bull camp in gold must take some solace in the fact that the US Fed Chairman suggested that the Fed's action had served to offset some of the credit crunch and yet that didn't seem to prompt renewed selling of gold from the flight to quality crowd.

The silver market seemed to garner a bit of support from the strength in gold prices but the trade might also have been emboldened by a recovery in energy prices, strength in equity prices and significantly more impressive strength in platinum and copper prices. In fact, seeing a long list of physical commodity markets trading moderately higher on Wednesday, in the face of more evidence of US slowing, was apparently enough to discourage a return to the broad based commodity selling pressure that recently dominated markets like silver.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.16 tonnes.

Newmont’s (NEM) comments on gold discovery, Gammon Gold’s (GRS) new board members, Tanzanian Royalty’s (TRE) board modification, Banro’s (BAA) drill results, Claude’s (CGR) executive appointment, Golden Star’s (GSS) COO appointment, Randgold’s (GOLD) reserves and resources update, Aura Silver’s (AUU.V) President and CEO appointment, and Fortuna’s (FVI.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.

Duran Ventures and MacMillan Gold Report Positive Results From Hole 4 Extension at Aguila in Peru - More
- April 02, 2008 | Item | E-mail

Simberi Grants Options to an Officer of the Company - More
- April 02, 2008 | Item | E-mail

Matamec and JV Partner Goldcorp Plan Drilling Program on Matheson JV Property this Spring - More
- April 02, 2008 | Item | E-mail

Geoinformatics Reports Widespread Copper-Gold Intercepts From Recent Drilling on its Stockton Project in Utah - More
- April 02, 2008 | Item | E-mail

Altai Announces a Common Share Private Placement - More
- April 02, 2008 | Item | E-mail

Gammon Gold Announces Appointments of Two New Members to the Board of Directors - "Gammon Gold Inc. ("Gammon") (TSX:GAM and AMEX:GRS): is pleased to announce the appointment of Andre Falzon and Rene Marion to the Gammon Board of Directors as well as completing 2007 with no material SOX weaknesses." More
- April 02, 2008 | Item | E-mail

Tanzanian Royalty Modifies Board to Ensure Majority Are Independent Directors - "The Company (Toronto:TNX.TO - News) (AMEX:TRE - News) wishes to announce that the composition of its Board of Directors has been modified to ensure that the Board is comprised of a majority of independent directors. In order to ensure complete independence of the Board, Victoria Luis has elected to resign from the Board, without relinquishing her responsibilities as a key member of the Company's management team." More
- April 02, 2008 | Item | E-mail

U.S. Energy Corp. Announces Appointment of Fredrick Craft as Project Manager and Perry Anderson as Director of Community Relations - More
- April 02, 2008 | Item | E-mail

ICS Copper Systems Ltd. - Joint Venture With TransAfrican Minerals Limited - More
- April 02, 2008 | Item | E-mail

Acero-Martin Announces Closing of First Tranche of Non-Brokered Private Placement - More
- April 02, 2008 | Item | E-mail

Banro updates pre-feasibility drilling results at its Twangiza Project - "Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce further results from the Company's ongoing pre-feasibility, core drilling program at its wholly-owned Twangiza project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC")." More
- April 02, 2008 | Item | E-mail

Fortune Minerals Appoints James A. Currie - VP Operations - More
- April 02, 2008 | Item | E-mail

Claude Resources Inc. Executive Appointments - "The two Vice President appointments will serve to strengthen and add depth to our management team," stated President and CEO Neil McMillan. "Both individuals bring great experience and expertise to the Company, enhancing the capacity of Claude Resources to execute its strategic plan." More
- April 02, 2008 | Item | E-mail

Golden Star Appoints D. Scott Barr as Executive Vice President and Chief Operating Officer - “We are excited to have Scott join the Golden Star management team. His strong professional and technical skills and extensive experience in the international mining industry will be of great value to Golden Star, particularly during the Bogoso/Prestea and Wassa expansions we have undertaken in Ghana. We believe that Scott’s experience will be a strong complement to our current management team.” More
- April 02, 2008 | Item | E-mail

Apella Resources Significantly Increases Lac Dore Vanadium Interests - More
- April 02, 2008 | Item | E-mail

Ur-Energy Inc.: Robust Results From Independent Preliminary Assessment on Lost Creek - More
- April 02, 2008 | Item | E-mail

Noront Resources Ltd.: Double Eagle Update - More
- April 02, 2008 | Item | E-mail

Strait Improves Access for Drilling Letra Rumi South Copper Property - More
- April 02, 2008 | Item | E-mail

African Gold Group, Inc. Releases Initial 43-101 Mineral Resources Estimate for "Zone 1" Kobada, Mali - More
- April 02, 2008 | Item | E-mail

Copper Reef's MN-08-46 Returns 3.64% Copper Over 33.5 Feet - More
- April 02, 2008 | Item | E-mail

BOLD Ventures: Option Agreement Signed With Noront Resources Ltd. to Earn 50% on 6 Claim Blocks in the "Ring of Fire" - More
- April 02, 2008 | Item | E-mail

Lithic Intersects More Zinc-Indium /-Copper Mineralization at Crypto - More
- April 02, 2008 | Item | E-mail

MetalCORP Identifies Strong Airborne EM Conductors on Python Property Adjacent to Hemlo; Sampling of Bedrock Next to Strong Conductor Yields 1.2% Nickel - More
- April 02, 2008 | Item | E-mail

Tecton Corporation Acquires Large Land Package in Prolific Athabasca - More
- April 02, 2008 | Item | E-mail

ATW Venture Corp.: Corporate Update - More
- April 02, 2008 | Item | E-mail

Los Andes Copper Intersects 0.57% Cu Over 218 Metres - More
- April 02, 2008 | Item | E-mail

Geovic Mining Appoints Investor Relations Officer - More
- April 02, 2008 | Item | E-mail

Duluth Metals cuts new high grade zone below Nokomis Deposit - More
- April 02, 2008 | Item | E-mail

Virgin Metals Extends Limits of Cu-Mo Mineralization at its Cuatro Hermanos Property - More
- April 02, 2008 | Item | E-mail

Rockcliff Hits High Grade VMS Mineralization on the Sylvia Property at Snow Lake, Manitoba - More
- April 02, 2008 | Item | E-mail

Adventure Gold Begins 3,000 Meter Drill Program at Beaufor West - More
- April 02, 2008 | Item | E-mail

AXMIN Inc.: Positive Feasibility Study at Passendro Gold Project - More
- April 02, 2008 | Item | E-mail

Majescor Options Madagascar Gold and Base Metal Properties to Sunridge Gold Corp. - More
- April 02, 2008 | Item | E-mail

Sunridge Enters Into Option Agreement on Gold Copper Zinc Properties in Madagascar - More
- April 02, 2008 | Item | E-mail

Kinbauri Adopts Shareholder Rights Plan - More
- April 02, 2008 | Item | E-mail

Eastmain Resources: Eau Claire Gold Deposit VG Samples Average 70.74 g/t Au, up to 2,540 g/t Au - More
- April 02, 2008 | Item | E-mail

Thompson Creek announces Davidson Deposit feasibility study - More
- April 02, 2008 | Item | E-mail

Power crisis to last years if no demand cut-Eskom - "South Africa's power crisis could last "many years" unless there is a drop in demand for electricity, the chief executive of state power utility Eskom [ESCJ.UL] said on Wednesday." More
- April 02, 2008 | Item | E-mail

Canasia Industries Corporation: Reed Lake VTEM 3,052 Line km Survey Completed - More
- April 02, 2008 | Item | E-mail

Resumed Drilling Program is Part of Colorado Goldfields' Growth Plan - More
- April 02, 2008 | Item | E-mail

Fortune Graphite (ZTW1 - Frankfurt Exchange) Mapping & Trenching Program for 2008 - More
- April 02, 2008 | Item | E-mail

Firesteel announces its 2008 exploration program - More
- April 02, 2008 | Item | E-mail

Western Uranium Corporation Provides Corporate Activity Update - More
- April 02, 2008 | Item | E-mail

Uranium Energy Corp Appoints Samuel Talbott as District Exploration Manager, Wyoming - More
- April 02, 2008 | Item | E-mail

Purepoint Uranium Group Inc.: Red Willow and Turnor Lake Exploration Updates - More
- April 02, 2008 | Item | E-mail

Azimut and Rukwa Uranium identify major uranium targets on the North Minto and South Minto properties in northern Quebec - More
- April 02, 2008 | Item | E-mail

Pitchstone Exploration Ltd.: Athabasca Exploration Results - More
- April 02, 2008 | Item | E-mail

UCR updates the drilling 2008 winter program - More
- April 02, 2008 | Item | E-mail

Aura Silver Appoints Robert Boaz as President and CEO and Announces Management and Director Changes - "Aura Silver Resources Inc. (TSX VENTURE:AUU - News; the "Company" or "Aura Silver") is pleased to announce effective today that Robert Boaz has been appointed President and Chief Executive Officer of Aura Silver. Jeffrey Klenda, previously Chief Executive Officer, will continue in his role as Chairman of the Board of Directors. Paul Pitman, previously President and a Director of the Company, will continue to provide technical leadership to Aura Silver as a consulting geologist." More
- April 02, 2008 | Item | E-mail

Fortuna Cuts 7.1 Meters with 4.36 g/t Au and 302 g/t Ag in San Ignacio Zone at San Jose, Mexico - "Fortuna Silver Mines Inc. (TSX VENTURE:FVI - News) is pleased to announce final drill results from the 2007 drill program at the San Jose silver-gold deposit located in Oaxaca, Mexico. The San Jose Project is being explored and developed under a joint venture between Fortuna (76%) and Continuum Resources Ltd (24%)." More
- April 02, 2008 | Item | E-mail

Randgold Resources Limited announces Reserves and Resources Update - "At the attributable level, measured, indicated and inferred resources rose from 12.55 million ounces at the end of 2006 to 13.5 million ounces, while proved and probable reserves increased from 6.29 million ounces to 7.78 million ounces, net of depletion by mining of some 400 000 ounces during the past year. The increases are mainly attributable to continuing exploration at the company's Loulo complex in Mali and at the Tongon project in Cote d'Ivoire, currently in the early stages of development as a new mine." More
- April 02, 2008 | Item | E-mail

Randgold Resources Limited announces Strong position for growth - "Randgold Resources is soundly positioned to do well under all realistically foreseeable cost/price scenarios, says chief executive Mark Bristow in the company's annual report for 2007, published today." More
- April 02, 2008 | Item | E-mail

Newmont says gold discoveries getting tougher - "Discovering the next mother lode is not as easy as it used to be, the world's second-largest gold producer, Newmont Mining Corp (NYSE:NEM - News) said on Wednesday, as it plans to spend nearly a quarter of a billion dollars on exploration this year." More
- April 02, 2008 | Item | E-mail

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