Gold Seeker Closing Report: Gold and Silver Gain Over 1% Again

	Close	Gain/Loss
Gold	$905.20	+$9.90
Silver	$17.39	+$0.26
XAU	181.38	+0.60%
HUI	446.46	+0.25%
GDM	1339.71	+0.38%
JSE Gold	2439.16	+36.47
USD	72.22	-0.01
Euro	156.69	-0.21
Yen	97.69	+0.04
Oil	$103.83	-$1.00
10-Year	3.591%	+0.008
T-Bond	117.546875	+0.09375
Dow	12626.03	+0.16%
Nasdaq	2363.30	+0.08%
S&P	1369.31	+0.13%

Gold continued yesterday’s after hours rally to over $900 in Asia before it drifted back near unchanged in London and dropped to as low as $888.22 by a little after 10AM EST in New York, but it then shot higher and climbed to a new session high of $908.67 by about 11:30. The yellow metal then drifted roughly 1% higher for the remaining 2 hours of trade and ended with a gain of 1.1%. Silver fell to as low as $16.907 in early New York trade before it also jumped higher in late morning trade and ended near its high of $17.54 with a gain of 1.5%.

Euro gold rose near €578, platinum gained $43 to $1985, and copper gained another couple of cents to about $3.90.

Gold and silver equities traded mostly slightly higher and ended with about 0.5% gains.

Report	For	Reading	Expected	Previous
Initial Claims	3/29	407K	365K	369K
ISM Services	Mar	49.6	48.5	49.3

The senate banking committee spoke today first with Fed Chairman Bernanke, US Securities and Exchange Commission Chairman Cox, and New York Federal Reserve Bank President Geithner on the fed’s role in the Bear Stearns rescue. The committee then spoke with JP Morgan Chairman Dimon and Bear Stearns CEO Schwartz about their actions over the last few weeks. Details about the deal were discussed, but no real new facts were revealed beyond some specifics about the overall fact that Bear Stearns failed and needed to be bailed out by JP Morgan and the fed to prevent broader market damage and a potential collapse of the entire financial system.

Tomorrow at 8:30AM EST brings March’s jobs data. Nonfarm Payrolls are expected at -50,000, the Unemployment rate is expected at 5.0%, Hourly Earnings are expected at 0.3%, and the Average Workweek is expected at 33.7.

The U.S. dollar index fell and treasuries rose as worse than expected jobless claims data trumped better than expected ISM Services data, but moves were limited ahead of tomorrow’s jobs report.

The Dow, Nasdaq, and S&P fell in morning trade after jobless claims rose to a 2-year high, but all three indices turned higher in afternoon trade and ended slightly higher on optimism that the financial problems that caused the collapse of Bear Stearns are now behind us.

Among the big names making news in the market today were ATA, Constellation Brands, Dell, and Schering Plough.

May Silver closed up 0.3 at 17.48. This was 0.5 up from the low and 0.1 off the high.

While the bull camp will suggest that gold did manage a higher high in the action Thursday, the market was unable to hold above the prior session's high. However, the gold market was partially lifted by a slight reversal in the Dollar from early strength. On the other hand, the gold market was also partially undermined as a result of weakness in the energy complex and perhaps because ongoing US Congressional testimony by regulators seem to further reduce concerns toward the US financial situation. Clearly some players were unwilling to take fresh positions in gold ahead of the potentially ultra critical US Non Farm payroll report on Friday morning. A quadrant of the market thinks that the rally in gold from the Wednesday low was simply technical short covering from the massive late March/early April washout.

Like the gold market, the silver market did manage to forge a fresh new high for the move and unlike gold, the silver market seemed to have the capacity to hold up close to the prior session's highs. In the end across the board strength in all the metals markets lent some support to silver, which could have been held back because of the prospect of significant volatility in the coming trading session.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: 74.34 tonnes were added to the trust.

Eldorado’s (EGO) first quarter operating results, Paramount’s (PZG) halt in trading, Minco Gold’s (MGH) drill results, Silvercorp’s (SVM.TO) drill results, Silver Wheaton’s (SLW) reserves and resources, Minco Silver’s (MSV.TO) drill results, and Apogee’s (APE.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.

StrataGold identifies a new silver target in the Keno Hill Silver District, Yukon - More
- April 03, 2008 | Item | E-mail

Corriente Resources Inc.: Updated Feasibility Study for Mirador Shows Attractive Starter Project With Major Copper Growth Potential - More
- April 03, 2008 | Item | E-mail

Pure Nickel Announces Appointment of CEO and President - More
- April 03, 2008 | Item | E-mail

Coronado Receives 2nd Gold Payment Plans Surface Geophysical Survey - More
- April 03, 2008 | Item | E-mail

Nebu Resources Inc. Completes IPO - More
- April 03, 2008 | Item | E-mail

Silvercorp Metals Inc.: Drilling and Tunnelling Discover High Grade Silver-Lead Veins in the LM Silver-Lead Mine in the Ying Silver District, Henan Province, Ch - "Silvercorp Metals Inc. ("Silvercorp") (Toronto:SVM.TO - News) is pleased to provide an update on its LM Silver (Ag)-Lead (Pb) Mine. The LM Mine was acquired in November 2007 through a 70% owned subsidiary, Henan Huawei Mining Co. Ltd. ("Huawei") which also holds the HPG Property. The acquisition of the LM mine has been approved by relevant Chinese Government authorities and the application for transfer of the LM mine permit was accepted by the Department of Land and Resources of Henan Province." More
- April 03, 2008 | Item | E-mail

Vulcan Minerals Inc.: Options Kingurutik, Labrador Nickel Property to Nortec Ventures Corp. - More
- April 03, 2008 | Item | E-mail

American Uranium Announces Intent to Submit License Application - More
- April 03, 2008 | Item | E-mail

Hathor & Terra's Claim Status Is Secure - More
- April 03, 2008 | Item | E-mail

Lincoln Gold adds third core rig La Bufa property, Chihuahua, Mexico - More
- April 03, 2008 | Item | E-mail

Nevada Copper Files NI 43-101 Report for Preliminary Economic Assessment - More
- April 03, 2008 | Item | E-mail

UNOR's 2008 Uranium Exploration Season - More
- April 03, 2008 | Item | E-mail

Copper Reef Intersects 127 Ft. of Near Solid Sulphides in Three Separate Zones - More
- April 03, 2008 | Item | E-mail

Skyharbour's Drilling Identifies Massive Sulphide Zone on South Bay Project, Red Lake, NW Ontario - More
- April 03, 2008 | Item | E-mail

Orex Exploration Inc.: Goldboro Gold Project Drilling Update - More
- April 03, 2008 | Item | E-mail

Eldorado Gold Corporation: First Quarter 2008 Operating Results - "The Kisladag Mine reopened on March 6, 2008. Production for the month of March was 27,228 ounces of gold at a cash operating cost of $219 per ounce. We are pleased to report that we have experienced sales for the month of March of 23,129 ounces of gold generating record revenue of $22.3 million at an average gold price of $965 per ounce. The gold production was refined at the Istanbul Gold Refinery and sold on the Istanbul Gold Exchange." More
- April 03, 2008 | Item | E-mail

Silver Wheaton More Than Triples Both Silver Reserves and Measured and Indicated Resources Year Over Year - "Silver Wheaton Corp. ("Silver Wheaton") (Toronto:SLW.TO - News)(NYSE:SLW - News) today announced that proven and probable silver reserves increased year over year by 239% to 346.4 million ounces as of December 31, 2007. Measured and indicated resources increased by 244% to 160.2 million ounces, and inferred resources increased 48% to 416.9 million ounces over the same period." More
- April 03, 2008 | Item | E-mail

Paramount Gold and Silver Corp. Addresses Halt in Trading - "Paramount Gold and Silver Corp. (Toronto:PZG.TO - News)(AMEX:PZG - News)(Frankfurt:P6G.F - News)(WKN: A0HGKQ) (the "Company") announces that its shares of common stock were halted for trading today on the American Stock Exchange ("AMEX"). Although trading had resumed on AMEX on March 28, 2008, following the end of a trading suspension imposed by the U.S. Securities and Exchange Commission, the Company became aware today that the Depository Trust Company ("DTC") continues to designate the Company's CUSIP number as ineligible for trading. As a result of such designation, AMEX has halted trading in the Company's shares until this matter is resolved with DTC." More
- April 03, 2008 | Item | E-mail

Ur-Energy First Quarter 2008 Conference Call - More
- April 03, 2008 | Item | E-mail

World-Class Vanadium Geologist/Mineralogist Joins Advisory Board - More
- April 03, 2008 | Item | E-mail

Champion Minerals Acquires Option on Gullbridge Base Metals Property, Newfoundland - More
- April 03, 2008 | Item | E-mail

Mexoro Minerals Announces Drill Results From the Cieneguita Project - More
- April 03, 2008 | Item | E-mail

Anaconda Extends Maturity Date on the Pine Cove Gold Mine Credit Facility - More
- April 03, 2008 | Item | E-mail

Sage Gold Inc.: High Grade Gold and Native Silver Drill Intercept-Onaman - More
- April 03, 2008 | Item | E-mail

Paragon Update on Drilling at South Tally Pond VMS Project - More
- April 03, 2008 | Item | E-mail

EXMIN Receives Title to the Concha Property Near Penasquito and Finalizes Joint Venture Agreement With Ammex Gold - More
- April 03, 2008 | Item | E-mail

Lero Intersects 17.50m @ 4.56% Cu and 9.70m @ 3.22% Cu at the Karchiga VMS Project, North East Kazakhstan - More
- April 03, 2008 | Item | E-mail

Millrock Announces Acquisition of Porphyry Copper-Gold Properties in Southeastern Arizona - More
- April 03, 2008 | Item | E-mail

Duran Ventures and MacMillan Gold Agree to Business Combination - More
- April 03, 2008 | Item | E-mail

Atna Technical Report Recommends Development of Reward Gold Project in Nevada - More
- April 03, 2008 | Item | E-mail

Uranium International Corp. Appoints Richard M. Cherry as President and Director of The Board - More
- April 03, 2008 | Item | E-mail

AmMex Gold Acquires the Concha Concession With EXMIN Resources - More
- April 03, 2008 | Item | E-mail

Fission Energy Corp.: Dispute Anticipated Over Claim Boundaries Near Waterbury Lake Property - More
- April 03, 2008 | Item | E-mail

Yankee Hat Acquires Advanced Stage Copper Property - More
- April 03, 2008 | Item | E-mail

Alberta Star Intersects 5.80 Meters of 1.16% Copper at the Glacier Creek Target at Contact Lake, NT - More
- April 03, 2008 | Item | E-mail

Redcorp Ventures Ltd.: Appointment of Officer - More
- April 03, 2008 | Item | E-mail

Midlands Minerals Reports Gold Resource on Sian Up 98%-Ghana - More
- April 03, 2008 | Item | E-mail

Mexivada Intersects up to 1.18 kg/t Silver in Drill Holes at La Republica Silver Mine, Mexico - More
- April 03, 2008 | Item | E-mail

Azimut and Central Uranium identify major uranium targets on the Central Minto property in northern Quebec - More
- April 03, 2008 | Item | E-mail

Skygold Reports Initial Resource Estimate for Spanish Mountain - More
- April 03, 2008 | Item | E-mail

Houston Lake Mining Intersects 33 Metres Grading 12.11g/t Au at West Cedartree Gold Project - More
- April 03, 2008 | Item | E-mail

USA Uranium Uses Technology to Expand Property Interest and Anoints New Leader - More
- April 03, 2008 | Item | E-mail

Colorado Goldfields Hires Milling Consultant for Mexico - More
- April 03, 2008 | Item | E-mail

Minco Silver Continues to Generate Excellent Step Out Drilling Results - "Minco Silver Corporation (the "Company" or "Minco Silver") (Toronto:MSV.TO - News) is pleased to report the assay results of 19 holes, for a total of 5,273.57 metres (m), from exploration drilling on its Fuwan Silver Project located in Guangdong Province, China. The program was predominantly designed to expand the known resource base through step out drilling. One hole was completed as part of condemnation drilling for the proposed mine and mill site infrastructure area." More
- April 03, 2008 | Item | E-mail

Minco Gold Discovers Major Gold Zones at Yangshanli Property - "The 2007 Yangshanli property trenching program has returned encouraging results and has identified a bedrock sourced gold anomalous area that, to date, is approximately 1.6 kilometres long by 300 metres in width. The 8 trenches have gold grades based on channel samples ranging from 0.30 to 1.02 g/t gold (Au) over widths ranging from 3.0 to 12.6 metres (m). The area, which is similar to the geological setting at the Anba Deposit, is located along strike to the west-northwest and is underlain by intercalated altered phyllites and limestones with granitic dykes." More
- April 03, 2008 | Item | E-mail

Apogee Releases Additional High Grade Results From the Pulacayo Silver Deposit, Bolivia-Including 8.0 Meters Grading 558.75g/t Silver in Hole PUD-063 - "Apogee Minerals Ltd. (TSX VENTURE:APE - News) reports additional high grade intercepts at the Pulacayo silver-zinc-lead deposit, southern Bolivia (Figure 1). Helio Diniz, President of Apogee, states, "we continue to intersect high grade silver values in the upper part of the Tajo Vein System at Pulacayo, with numerous wide intervals exceeding 100 g/t silver and at least 10 intervals that range from 4 meters to 20 meters in width that grade more than 200 g/t silver." More
- April 03, 2008 | Item | E-mail

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