Gold Seeker Closing Report: Gold and Silver Gain Roughly 1%

	Close	Gain/Loss
Gold	$893.05	+$6.10
Silver	$17.02	+$0.195
XAU	173.78	-1.30%
HUI	406.90	-0.95%
GDM	1226.41	-0.99%
JSE Gold	2380.85	-41.51%
USD	72.57	-0.23
Euro	156.38	+0.20
Yen	95.99	+0.24
Oil	$118.75	+$0.23
10-Year	3.835%	-0.031
T-Bond	116.03125	+0.4375
Dow	12871.75	-0.16%
Nasdaq	2424.40	+0.06%
S&P	1396.37	-0.11%

Gold rose over $5 in Asia before it fell back near unchanged at $887.00 by early trade in New York, but it then rose midmorning to as high as $895.70, remained near that high into the close, and ended with a gain of 0.69%. Silver dropped to $16.77 and rose to $17.14 before it closed with a gain of 1.16%.

Euro gold rose to about €571, platinum gained $12.50 to $1964.50, and copper rose a couple of cents to about $3.98.

Gold and silver equities rose about 1% by late morning, but they then steadily fell back off for most of the rest of trade and ended with about 1% losses.

There were no major economic reports today, but a report showing homeowner vacancies have hit a new record high did have some talking. Warren Buffet’s comments that the recession may be worse than most fear also raised a few eyebrows. Tomorrow at 10AM EST is Consumer Confidence for April expected at 61.0. The fed also starts their meeting tomorrow, but their policy statement will not come until Wednesday.

Oil rose on the Scottish refinery strike and an Exxon union strike in Nigeria that kept supply concerns high and drove oil to close within just 62 cents of a new record closing high. A new intraday high of $119.93 was achieved in overnight electronic trading.

The U.S. dollar index fell slightly and treasuries rose a bit while traders waited and prepared for the fed’s statement on Wednesday.

The Dow, Nasdaq, and S&P rose modestly in early trade on deal making news and decent earnings reports, but uncertainty over the fed’s meeting dragged the Dow and S&P marginally lower by the close while the Nasdaq eked out a small gain.

Among the big names making news in the market today were Tyson Foods, Mars and Wrigley, Ford, Verizon, Humana, and RadioShack.

May Silver closed up 0.163 at 17.013. This was 0.213 up from the low and 0.047 off the high.

Gold managed an early rally before spending a large portion of the later Monday trade in a quasi coiling pattern just above the $896 level. With the US Dollar mostly weak, oil prices generally positive and the Press touting bargain hunting buying interest again, it wasn't surprising to see June gold manage to hold above the prior session's closing value. While the gold market seemed to be attempting to migrate toward a classic inflation view again, the ebb and flow of the US Dollar still seemed to be the primary force in the action Monday. On the other hand, with June gold prices sitting roughly $143 an ounce below the March 17th highs, it is possible that some bargain hunting buying was surfacing even though the Dollar was at times 180 points above last week's lows.

The silver market threw off some early morning weakness and managed to climb modestly into the close. Certainly strength in gold prices, strength in oil and a decline in the US Dollar provided the bull camp with an edge to start the week. It is also possible that gains in copper and platinum prices might have prompted some light physical or industrially based buying interest in silver in a surprisingly active session. However, the bear camp will point out that the market failed to sustain a pulse up to the $17.25 level and will suggest that an initial slide markedly below the even number $17.00 level did some damage to short term silver charts.”- The Hightower Report, Futures Analysis and Forecasting

IAMGOLD’s (IAG) $140 million credit facility, Apollo Gold’s (AGT) maintenance issue and shelf registration statement, Newmont’s (NEM) possible plans to scale back in Indonesia, Tumi’s (TUMIF.OB) progress in Mexico, Great Panther’s (GPR.TO) high grade production, Abcourt’s (ABI.V) mill equipment dismantling contract, Silvercorp’s (SVM.TO) acquired resources, Silver Dragon’s (SDRG.OB) project process, and Coeur’s (CDE) exploration 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.

Champion Minerals Expands Its Iron Property Holdings Through Acquisition of Pterodactyl Claims, Newfoundland - More
- April 28, 2008 | Item | E-mail

Duran Options New Brunswick Properties - More
- April 28, 2008 | Item | E-mail

Yukon-Nevada Gold Corp. reports mineralization extended at SSX Mine, Jerritt Canyon, Nevada - More
- April 28, 2008 | Item | E-mail

MPH Ventures Announces Phase 2 Drilling to Begin on Pidgeon Molybdenum Deposit in NW Ontario - More
- April 28, 2008 | Item | E-mail

Young-Shannon Commences Drilling Program to Test Extension of High Grade Gold Zones at McMillan Gold Mine Property - More
- April 28, 2008 | Item | E-mail

Romarco Responds to Reports of Lawsuit From Former CFO - More
- April 28, 2008 | Item | E-mail

Asia Now Resources Corp.: Canadian Junior Mining Company Strikes Strategic Partnership with the 'Rothschilds of the Pacific' - More
- April 28, 2008 | Item | E-mail

First Metals Declares Commercial Production at the Fabie Mine - More
- April 28, 2008 | Item | E-mail

Star Uranium Corp. - Update on Winter Exploration Program - More
- April 28, 2008 | Item | E-mail

Copper Reef Outlines New East Zone - More
- April 28, 2008 | Item | E-mail

Altius's Labrador Iron Ore Exploration Commences - More
- April 28, 2008 | Item | E-mail

Celtic Minerals Ltd. Announces Private Placement Of Flow Through Shares - More
- April 28, 2008 | Item | E-mail

NWT announces positive results from drilling at Niger Uranium's In Gall property - More
- April 28, 2008 | Item | E-mail

Alberta Star Intersects 3.0 Meters of 2.50% Zinc, 0.22% Lead and 1.60 g/ton Silver at Mag Hill Target at Contact Lake, NT - More
- April 28, 2008 | Item | E-mail

Uracan discovers new uranium mineralization at Double S and Johan Beetz - More
- April 28, 2008 | Item | E-mail

Diamond Drilling to Commence on the Doctor Lake (Sahtu) Project - More
- April 28, 2008 | Item | E-mail

Golden Harp Resources completes spring diamond drill program - More
- April 28, 2008 | Item | E-mail

Freegold In-Fill Drilling Confirming Continuity of Gold Zones in Western Expansion at Golden Summit - More
- April 28, 2008 | Item | E-mail

Redstar Confirms New High Grade Gold Trend in Red Lake - More
- April 28, 2008 | Item | E-mail

Bayswater Reassesses Priorities & Targets Labrador and Wyoming to Fuel Growth in 2008 - More
- April 28, 2008 | Item | E-mail

Abacus Intersects 318 Metres (1043.3 Feet) of 0.43% Copper and 0.26 g/t Gold at Ajax - More
- April 28, 2008 | Item | E-mail

Silver Capital AG Reports Results of the Soil Geochemical MMI Sampling Survey From the Ruostesuo Project in Finland - More
- April 28, 2008 | Item | E-mail

Asian Mineral Resources Limited-Malaysia Smelting Corporation Exercises Warrants - More
- April 28, 2008 | Item | E-mail

Wallbridge and Champion Bear enter into Option and Joint Venture Agreement in respect of Champion Bear's Parkin Property - More
- April 28, 2008 | Item | E-mail

Ecometals Appoints Chief Operating Officer - More
- April 28, 2008 | Item | E-mail

Utah Uranium Corp. Acquires Alberta Potash Property - More
- April 28, 2008 | Item | E-mail

18 Metres of 1.5% Nickel Drilled on Independent Nickel Corp.'s Lynn Lake Property - More
- April 28, 2008 | Item | E-mail

Aurelio Announces Highly Encouraging Metallurgical Test Results for Hill Copper Leach Project - More
- April 28, 2008 | Item | E-mail

Mirabela Nickel Limited - More spectacular results in southern zone drilling - More
- April 28, 2008 | Item | E-mail

Pan African Mining Corp. Acquisition to Be Structured as a Plan of Arrangement: June 20, 2008 Set for Shareholders Meeting - More
- April 28, 2008 | Item | E-mail

Uruguay Mineral Exploration Inc: Production Resumed after Termination of Union Blockade - More
- April 28, 2008 | Item | E-mail

Globex: Drinkard Metalox to Initiate Bench and Pilot Scale Test Work in Magnesite Joint Venture - More
- April 28, 2008 | Item | E-mail

Tumi Discovers Prospective Zone in El Colorado, Mexico - "Tumi Resources Limited (the "Company") (CDNX:TM.V - News)(OTC BB:TUMIF.OB - News)(Frankfurt:TUY.F - News) - David Henstridge, President, announces progress on the Company's 100% percent owned, 21,062-hectare, El Colorado claim located approximately 45 kms southeast of Hermosillo in north-central Sonora, Mexico." More
- April 28, 2008 | Item | E-mail

Great Panther Produces From High Grade Silver-Gold Zone at Guanajuato; Grades Up to 1,064g/t Ag and 7.2g/t Au - "Great Panther Resources Limited (Toronto:GPR.TO - News) (the "Company") is pleased to report that mining on 3 levels along the North Zone of the Veta Madre in the Guanajuatito area of the Guanajuato Mine has encountered high grade silver-gold ore which corresponds very well with results from earlier surface diamond drilling and is an integral part of the recent production turnaround being reported at the Guanajuato Mine (see news release April 7, 2008)." More
- April 28, 2008 | Item | E-mail

Abcourt Gives a Contract to Dismantle the Mill Equipment Recently Purchased - "Mr. Renaud Hinse, president and C.E.O. of Abcourt Mines Inc. (CDNX:ABI.V - News), is pleased to announce that a contract has been signed with Construction Promec Inc. of Rouyn-Noranda, Quebec to dismantle the mill equipment recently purchased from Osisko Exploration Ltd." More
- April 28, 2008 | Item | E-mail

Silvercorp Acquires Significant Silver-Lead-Zinc Resources in Guangdong Province, Southern China - "Silvercorp Metals Inc. (Toronto:SVM.TO - News) ("Silvercorp" or the "Company") is pleased to announce that it has entered into a share purchase agreement with Yangtze Gold Ltd. ("Yangtze Gold"), a private BVI company, to acquire from Yangtze Gold all of the issued shares of Yangtze Mining Ltd. ("Yangtze Mining")." More
- April 28, 2008 | Item | E-mail

IAMGOLD Obtains US $140 Million Credit Facility - "Together with strong cash flow from our existing operations, a cash/bullion position in excess of US $200 million, this US $140 million credit facility will provide additional financial capacity to assist us in our long term objective of doubling our gold production and reducing our cash costs below industry average within the next five years." More
- April 28, 2008 | Item | E-mail

Silver Dragon Reports On Progress At Laopandao Ag-Cu Polymetallic Project in Northern China - "Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) is pleased to announce further progress of its 2007 exploration program at the Laopandao Silver Project (``Laopandao'') located in the Erbahuo Silver District in Northern China." More
- April 28, 2008 | Item | E-mail

Apollo Gold Updates Montana Tunnels Mine Production - "Apollo Gold Corporation ("Apollo") (Toronto:APG.TO - News) (AMEX:AGT - News) announced today that a maintenance issue occurred over the weekend at its Montana Tunnels' mill processing facility. Ore is processed at the mill through a primary and secondary crushing circuit which is followed by a semi-autogenous mill and ball mill grinding circuit. The maintenance issue concerns a crack in the shell of the ball mill. The Montana Tunnels mill complex is expected to be down for approximately two weeks while the ball mill is repaired." More
- April 28, 2008 | Item | E-mail

Newmont's Indonesia unit says may cut jobs, scale back - "Newmont Mining Corp's (NEM.N: Quote, Profile, Research) Indonesian unit on Monday said it may lay off as many as 700 of its 8,300 workers and cut back operations at its copper and gold mine in Sumbawa next year due to delays over permits." More
- April 28, 2008 | Item | E-mail

NWT announces positive results from drilling at Niger Uranium's In Gall property - More
- April 28, 2008 | Item | E-mail

Coeur Reports Favorable Exploration Results From Expanded Programs in Mexico, Chile and Argentina - "Coeur d’Alene Mines Corporation (NYSE:CDE - News) (TSE:CDM - News) (ASX:CXC - News) today announced updated drill results from its expanded exploration programs at its new advanced Palmarejo silver/gold project under construction in Chihuahua, Mexico, as well as near its Chilean and Argentine operating properties." More
- April 28, 2008 | Item | E-mail

Mawson Drills 0.23% U3O8 Over 8.5 Metres at Klappibacken, Sweden - More
- April 28, 2008 | Item | E-mail

Apollo Gold Files Shelf Registration Statement - "Apollo Gold Corporation (TSX:APG - News) (AMEX:AGT - News), today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) that, if declared effective by the SEC, would allow the Company to sell, from time to time, up to $100 million of its debt securities, common stock and warrants (“Securities”) in one or more offerings." More
- April 28, 2008 | Item | E-mail

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