Gold Seeker Closing Report: Gold and Silver Lose Roughly 1% After Yesterday’s 2% and 3% Gains

	Close	Gain/Loss
Gold	$928.00	-$6.45
Silver	$17.98	-$0.24
XAU	186.33	-0.03%
HUI	454.38	+0.06%
GDM	1361.23	-0.02%
JSE Gold	2480.27	+17.31
USD	72.10	+0.22
Euro	157.43	-0.76
Yen	98.10	-0.15
Oil	$110.11	-$0.76
10-Year	3.532%	+0.066
T-Bond	119.03125	-0.390625
Dow	12581.98	+0.44%
Nasdaq	2351.70	+1.27%
S&P	1360.55	+0.45%

Gold rose to $939.70 by midday in London before it fell $921.77 by early afternoon in New York, but it then rebounded over $6 higher into the close and ended with a loss of just 0.69%. Silver rose to $18.40 and fell to $17.795 before it also rallied back higher in the last hour of trade and ended with a loss of just 1.3%.

Euro gold fell near €589, platinum remained at $2016.50, and copper fell over 7 cents to about $3.95.

Gold and silver equities fell nearly 2% by about a half hour into trade, but they then slowly and steadily climbed higher for the rest of trade and ended at about unchanged on the day.

Report	For	Reading	Expected	Previous
Initial Claims	4/05	357K	383K	410K
Trade Balance	Feb	-$62.3B	-$57.4B	-$59.0B
Treasury Budget	Mar	-$48.1B	-$70.3B	-$96.3B

Bernanke said at a luncheon today that the current crisis is at the level of financial distress among the most serious since World War II. When asked about similarities to the great depression he said that there are some but also argued that we have learned the lessons from the great depression and as a result the fed will try to not allow banks to collapse or the monetary base to deflate.

Tomorrow at 8:30AM EST brings Import and Export Prices for March and at 10AM is Michigan Sentiment for April expected at 69.0.

Oil fell from yesterday’s record high as the dollar rebounded and the government reported oil imports fell in February, but it still ended at over $110 a barrel.

The U.S. dollar index rose and treasuries fell as Initial Jobless Claims came in better than expected. The ECB left rates unchanged and the BoE lowered rates as expected.

The Dow, Nasdaq, and S&P rose despite mostly poor retail sales reports as traders covered their shorts on those various retail names in “sell on the news” action. Lower oil prices and better than expected Initial Jobless Claims data also seemed to put traders at ease while most ignored a much worse than expected Trade Balance in February.

Among the big names making news in the market today were Wal-Mart, Costco, Yahoo, Microsoft, AOL, Takeda and Millennium, Lehman Brothers, DuPont, and Rite Aid.

“June Gold finished down 5.7 at 931.8, 7.7 off the high and 6.8 up from the low.

May Silver closed down 0.157 at 18.043. This was 0.133 up from the low and 0.207 off the high.

The gold market fell off its highs early in the session to a morning low around $925 but then managed to bounce off that low ahead of the close. However, the gold market bulls didn't get much help from outside market action as the Dollar rejected early weakness, energies gave up early gains and the rest of the metals seemed to join into a broad based physical commodity profit taking wave. Perhaps the recovery in the Dollar was associated with the upcoming G7 meeting and perhaps the recovery in the US stock market served to chase some flight to quality longs out of gold, but in the end it seemed as if a number of paths pointed downward for gold.

The silver market also fell hard from the overnight highs but the May contract did manage to turn the tide of selling partly around in the hours after the US scheduled report flow. However, a rise in the Dollar seemed to limit the short covering interest in silver and with the copper market seeing a very strong slide from its highs, the silver bulls just couldn't seem to shed the bearish tilt that hung around in the market for most of the session.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: StreetTRACKS subtracted 0.22 tonnes.

Note: Change in Total Tonnes from yesterday’s data: 15.41 tonnes were added to the trust.

Tanzanian Royalty’s (TRE) article clarification, Ivanhoe’s (IVN) sale of Jinshan (JIN.TO) to China National Gold Group Corporation, Lihir’s (LIHR) merger update, ECU’s (ECU.TO) investor relations appointment, Oro Silver’s (OSR.V) financing, and Sabina’s (SBB.V) 2008 work campaign 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.

Platinum Group Metals, Anglo Platinum and Wesizwe Platinum Purchase Hoisting Equipment for Platinum Mine Project 1 - More
- April 10, 2008 | Item | E-mail

Pure Nickel Announces Initial Results From Its William Lake Drill Program - More
- April 10, 2008 | Item | E-mail

Golden Goose hits multiple high nickel, copper and palladium grades at Lac Levac - More
- April 10, 2008 | Item | E-mail

Ucore Uranium Receives 2008 Drill Permit for Bokan Mountain - More
- April 10, 2008 | Item | E-mail

Largo Reports Upgraded Resource Estimate and Confirms Higher-Grade Tungsten and Molybdenum Zones at Northern Dancer, Yukon - More
- April 10, 2008 | Item | E-mail

MacMillan Gold Corp. Appoints Officers - More
- April 10, 2008 | Item | E-mail

BOLD Ventures Appoints New President and Elects Two Additional Directors - More
- April 10, 2008 | Item | E-mail

Inter-Citic Reports Dachang Mineral Resource Update - More
- April 10, 2008 | Item | E-mail

Pershimco: Appointment as Director of Claude Arcand, Ex-Director of Cambior - More
- April 10, 2008 | Item | E-mail

Continued high grade gold intersected at Jojay - More
- April 10, 2008 | Item | E-mail

Eagle Plains Announces Bronco Results - More
- April 10, 2008 | Item | E-mail

Little Squaw Reports Mexican Gold Drilling Progress - More
- April 10, 2008 | Item | E-mail

CORRECTING and REPLACING General Moly Receives $19.1 Million in Warrant Exercise Proceeds - More
- April 10, 2008 | Item | E-mail

Oromonte acquires prospective property in British Columbia - More
- April 10, 2008 | Item | E-mail

Nuinsco Begins Drilling at Berta Copper-Gold Project in Northeastern Turkey - More
- April 10, 2008 | Item | E-mail

Shoshone Silver Mining Winter Update - More
- April 10, 2008 | Item | E-mail

Pacific Comox Reports 0.47% or 9.4 lbs/ton Molybdenum Plus 1.3% Copper Over 5 Meters Near Surface at Ryan Lake Copper-Molybdenum Project - More
- April 10, 2008 | Item | E-mail

Seafield Completes Heliborne Survey With Noront Drilling at Tango, Mexico Completed, Assays Pending - More
- April 10, 2008 | Item | E-mail

Kodiak's Hercules Project Named Discovery of the Year - More
- April 10, 2008 | Item | E-mail

Vena Resources Provides Update on Corporate Developments - More
- April 10, 2008 | Item | E-mail

Goldeye Explorations Limited-Todd Creek Property, BC - More
- April 10, 2008 | Item | E-mail

Aldridge Minerals Inc. announces terms of brokered private placement - More
- April 10, 2008 | Item | E-mail

Tao Minerals Completes $1 Million Financing - More
- April 10, 2008 | Item | E-mail

Golden Harp Resources completes first half of spring drill program - More
- April 10, 2008 | Item | E-mail

Sumitomo to Fund Drilling of Additional Porphyry Copper Gold Targets at Soltoro's La Tortuga Project - More
- April 10, 2008 | Item | E-mail

Acero-Martin Exploration Appoints New President and CEO - More
- April 10, 2008 | Item | E-mail

SLAM Exploration Ltd.: Drilling Underway at Fort Hope Gold Mine - More
- April 10, 2008 | Item | E-mail

Intrepid Mines Limited: Continued Underground Drilling Success Points to Mine Life Extension at Paulsens - More
- April 10, 2008 | Item | E-mail

Lihir Gold Ltd (LGL) & Equigold: Update on Merger Process - "Lihir Gold Ltd (Toronto:LGG.TO - News)(NasdaqGS:LIHR - News)(ASX:LGL.AX - News) ("LGL") and Equigold NL ("Equigold") (ASX:EQI.AX - News) are pleased to provide an update on the progress of their proposed merger via a scheme of arrangement (Scheme)." More
- April 10, 2008 | Item | E-mail

Midland Exploration and Breakwater Resources Ltd Advance Regional Targets on the Gatineau Zinc Project - More
- April 10, 2008 | Item | E-mail

Victoria Reports More High Grade Gold Results From Cove-McCoy: Hole NW-6A Intersects 39.6 m (130 feet) of 11.8 g/t (0.343 oz/ton) - More
- April 10, 2008 | Item | E-mail

Arianne Reports Opinaca Drilling Results: Up to 14.58 g/t Au Over 5.4 Metres - More
- April 10, 2008 | Item | E-mail

U3O8 Corp. Reports Intersection of 2.6 lbs Per Ton (0.13%) U3O8 Over 34m From Aricheng South - More
- April 10, 2008 | Item | E-mail

Latin American Minerals Identifies Depth Potential at Its Tendal Massive Sulphide Project, La Rioja Argentina - More
- April 10, 2008 | Item | E-mail

Unprecedented Gold Prospects on Klondike Star's Oweinat Property - More
- April 10, 2008 | Item | E-mail

China National Gold Corporation Purchases CDN$218 Million of Jinshan Securities with a Mandate to Create a Leading Global Gold Producer - More
- April 10, 2008 | Item | E-mail

Yankee Hat Makes First Advanced Tungsten Acquisition - More
- April 10, 2008 | Item | E-mail

Pelangio Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario (DG-07-223 Intersects 7.14 g/t Over 30.0 m in Calcite Zone) - More
- April 10, 2008 | Item | E-mail

Hinterland Discovers 1.8m of 1.12% Copper and 0.36% Nickel at Ebay Property, Quebec - More
- April 10, 2008 | Item | E-mail

General Moly Receives $19.1 Million in Warrant Exercise Proceeds - More
- April 10, 2008 | Item | E-mail

Piedmont Mining Company Announces New Advisory Board Member - More
- April 10, 2008 | Item | E-mail

General Metals to Present at Equities Magazine's Mining/Resource Conference - More
- April 10, 2008 | Item | E-mail

Abacus Achieves First Quarter 2008 Goals; Outlines 2nd Quarter 2008 Goals - More
- April 10, 2008 | Item | E-mail

Andean Resources Hires VP Operations - More
- April 10, 2008 | Item | E-mail

Bancroft Drill Program Builds on Success of Historic Uranium Exploration - More
- April 10, 2008 | Item | E-mail

Dia Bras Announces More High-Grade Silver Drill Intercepts from its Cusi Project - More
- April 10, 2008 | Item | E-mail

Independent Nickel Drills New Zone of Nickel at Lynn Lake - More
- April 10, 2008 | Item | E-mail

Canplats Resources Corporation: Camino Rojo Drilling Extends Represa Gold-Silver-Lead-Zinc Mineralization Laterally and to Depth - More
- April 10, 2008 | Item | E-mail

Molybdenum Prices to Stay High, Strong Demand Worldwide; Major Producer Says - More
- April 10, 2008 | Item | E-mail

CGA Mining Limited - Announcement to the Australian Securities Exchange and Toronto Stock Exchange - More
- April 10, 2008 | Item | E-mail

Paladin Energy Ltd Provides "Open Briefing"(R) Interview With John Borshoff: Strategy & Positioning for Growth - More
- April 10, 2008 | Item | E-mail

Bluerock Advances Uranium Mill Plans Via the Acquisition of Mancos Resources - More
- April 10, 2008 | Item | E-mail

CanAlaska Waterbury Lake update - More
- April 10, 2008 | Item | E-mail

Tanzanian Royalty Clarifies Bloomberg News Service Article - "Tanzanian Royalty (AMEX:TRE - News) (Toronto:TNX.TO - News) would like to clarify some erroneous information that appeared in an article carried by Bloomberg news service on April 4, 2008 pertaining to its exploration activities in Tanzania." More
- April 10, 2008 | Item | E-mail

ECU Silver Retains CHF Investor Relations - "ECU Silver Mining (TSX:ECU - News; "ECU Silver" or "the Company") announced today that the Company has appointed CHF Investor Relations (Cavalcanti Hume Funfer Inc., "CHF"), Canada's longest established investor relations firm, as its new investment relations counsel (the "CHF Contract")." More
- April 10, 2008 | Item | E-mail

Oro Silver Announces Non-Brokered Financing - "Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR - News) announces that it intends to complete a non-brokered private placement of up to 5,000,000 common shares (the "Shares") at a price of $0.66 per Share for proceeds of up to $3,300,000, subject to regulatory approval." More
- April 10, 2008 | Item | E-mail

Sabina Silver Commences 2008 Program at Hackett River: Work Continues on Resource Update and Pre-Feasibility Study: Overall Budget of $18.9M for 2008 - "Sabina Silver Corporation (CDNX:SBB.V - News) (Other OTC:SBBFF.PK - News) announced today that the 2008 work campaign has started at the Hackett River Project in Nunavut, Canada. Work also continues on compiling the Hackett River resource update and pre-feasibility work continues in full swing." More
- April 10, 2008 | Item | E-mail

Ivanhoe Mines to Sell Controlling Stake in Jinshan Gold Mines to China National Gold Group Corporation - "IVANHOE MINES' (Toronto:IVN.TO - News)(NYSE:IVN - News)(NYSE:IVN - News), Executive Chairman Robert Friedland announced today that the company has agreed to sell its 42% control block in China gold producer JINSHAN GOLD MINES (Toronto:JIN.TO - News) to China's national gold-mining conglomerate, CHINA NATIONAL GOLD GROUP CORPORATION, of Beijing, and its financial partners." More
- April 10, 2008 | Item | E-mail

Midway Updates on Drilling in Spring Valley Gold Project, Nevada - "Midway Gold Corp. (the "Company") (CDNX:MDW.V - News)(AMEX:MDW - News) is pleased to announce initial assay results from 2008 drilling at the Spring Valley project in Nevada. Fire assay results for six holes have been received to date, and include 110 feet of 0.024 ounces per ton (opt) gold in SV08-379 in table 1 below. Additional metallic screen assays for select 2007 holes are shown in table 2 below. These results include core holes with 215 feet of 0.045 opt gold in SV07-294c and 135 feet of 0.035 opt gold in SV07-350c." More
- April 10, 2008 | Item | E-mail

Ivanhoe sells stake in Jinshan to China National - "Ivanhoe Mines Ltd (IVN.TO: Quote, Profile, Research) said on Thursday it will sell its 42 percent controlling stake in Jinshan Gold Mines Inc (JIN.TO: Quote, Profile, Research) to gold mining conglomerate China National Gold Group Corp.

Ivanhoe said the deal, worth about C$217.7 million ($213.4 million) and expected to close on May 10, is the first step toward forming a strategic partnership with China National to focus on gold and copper exploration and mine development in China." More
- April 10, 2008 | Item | E-mail

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