Gold Seeker Weekly Wrap-Up: Gold and Silver Fall a Little Over 1% While Stocks Rebound About 10% on the Week

	Close	Gain/Loss	On Week
Gold	$929.60	+$6.90	-1.30%
Silver	$13.19	+$0.255	-1.12%
XAU	122.22	+1.48%	+2.22%
HUI	287.54	+1.24%	+0.88%
GDM	907.43	+1.21%	+0.40%
JSE Gold	2941.21	-5.71	+5.15%
USD	87.34	-0.01	-1.48%
Euro	129.22	+0.06	+2.24%
Yen	102.10	-0.21	+0.44%
Oil	$46.25	-$0.78	+1.60%
10-Year	2.885%	-0.007	+2.02%
Bond	127.515625	-0.25	-0.81%
Dow	7223.98	+0.75%	+9.01%
Nasdaq	1431.50	+0.38%	+10.64%
S&P	756.55	+0.77%	+10.71%

Gold fell a few dollars to $918.95 by around 7AM EST in London before it soared at the New York open to as high as $938.30 by about 8:30AM EST, but it then fell back off in midmorning action and ended with a gain of just 0.75%. Silver fell to $12.919 before it jumped to as high as $13.292, but it also fell back off a bit in the last few hours of trade and it ended with a gain of 1.97%.

Euro gold rose to about €721, platinum gained $17 to $1060.50, and copper gained roughly 4 cents to about $1.66.

Gold and silver equities meandered mostly slightly higher and ended with a little over 1% gains.

Report	For	Reading	Expected	Previous
Import Prices	Feb	-0.2%	-0.7%	-1.2%
Import Prices ex-oil	Feb	-0.6%	-	-0.8%
Export Prices	Feb	-0.1%	-	0.5%
Export Prices ex-ag.	Feb	0.1%	-	0.1%
Trade Balance	Jan	-$36.0B	-$38.0B	-$39.9B
Michigan Sentiment	Mar	56.6	55.0	56.3

Next week’s economic highlights include Empire Manufacturing, Net Long-Term TIC Flows, Capacity Utilization, and Industrial Production on Monday, Building Permits, Housing Starts, and PPI on Tuesday, CPI, the Current Account Balance, and a FOMC Rate Decision on Wednesday, and Initial Jobless Claims, Leading Economic Indicators, and the Philadelphia Fed survey on Thursday.

Oil ended lower on more indications over slowing demand and speculation that OPEC may not cut production at their meeting this weekend

The U.S. dollar index fell as the euro found continued strength from yesterday’s policy shift from the Swiss National Bank.

Treasuries fell slightly as the Dow, Nasdaq, and S&P found modest gains on hopes for an economic recovery.

Among the big names making news in the market Friday were Cisco, Humana, and Bank of America.

“It was a wild one. Gold spiked again with gold flying in early Comex trading. It soared to $939 very quickly, catching The Gold Cartel off guard for the second day in a row. It is clear that the Obama Administration and their cronies are in all out managing expectations mode this week; therefore, despite surging gold demand, a soaring gold price was not to be tolerated this week. So, like yesterday, The Gold Cartel mobilized their forces and counterattacked furiously, bombing gold all the way down to $920. The Gold War is heating up dramatically.

However, spec gold longs have been emboldened lately and took advantage of the cabal assault by new buying of cheap gold. Gold came back very nicely, which doesn’t happen that often. Yet, the cabal was the cabal, preventing the price from finishing the day above the key $930 level.

Silver finally showed some decent OOMPH today. With The Gold Cartel on the attack, silver didn’t want to make the same retreat. With gold down $3 on the day, silver still left a 7 cent gap from yesterday’s Comex close and finished firmly higher.

There was concern from some quarters the Obama Administration has felt some heat about being too negative … that it’s refreshing candor about the state of US financial affairs was undermining efforts for recovery because it was scaring the public … with the effect the public was paring back out of fear and sending us into bunkers. Therefore, rookie President Obama is orchestrating a new approach.

In addition to Obama’s comments on buying stocks, Fed chairman Bernanke is going on 60 Minutes Sunday, a highly unusual move to begin with and unprecedented three days before a Fed meeting (next Wednesday). All of a sudden "the generals" of America’s most established corporations were brought back from the dead to pronounce to America that suddenly all is going well. We have seen the top dogs of Citigroup and Bank of America visibly pronounce they are making money. JP Morgan’s Jamie Dimon, gave his own peop talk. Other banks have come out and stated they want to sent their "Tarp" money back. Even GM says it doesn’t need the $2 billion it just requested, due to cost saving measures.

There is more, but suffice it so say, all of this seems too pat. A wave of the magic wand and the crisis is under control? Time will tell on that score, but it seems highly suspect to me.”- From today’s Midas report by Bill Murphy of LemetropoleCafe.com

“April Gold closed up 6.1 at 930.1. This was 2.1 up from the low and 5.4 off the

May Silver finished up 0.272 at 13.215, 0.005 off the high and 0.035 up from the low.

The gold market showed some wild fluctuations during the trade on Friday morning with two $20 per ounce gyrations seen in the morning trade. Clearly seeing the narrowest US Trade Balance in six years served to undermine some flight to quality bulls. Some traders suggested that gold was battling profit taking by the longs, which might have been somewhat concerned about potential developments from the weekend G20 meeting. With price action choppy the metal may have been underpinned by comments from China's Central Bank warning that the financial crisis may lift gold to record highs. Strong investor flows into gold-backed securities along with currency devaluation concerns may have been other factor providing price support to the metal.

Like the gold market, the silver market also forged a somewhat violent back and forth trade on Friday morning, but in the end the silver market seemed to be hostage to the direction of gold prices. As a quasi-industrial metal, the strength in silver may have been partially due to spill over support from the copper market. There may have also been some safe haven buying of silver ahead of the weekend G20 meeting.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.36 tonnes to a new record high holding and the LSE added 0.16 tonnes.

Note: Change in Total Tonnes from yesterday’s data: 0.92 tonnes were removed from the trust.

Ivanhoe’s negotiations with Mongolia's national Parliament, Great Basin’s (GBN) completed financing, Pacific Rim’s (PMU) third quarter results, Lihir’s (LIHR) issued shares, Fronteer’s (FRG) resource estimate, Paramount’s (PZG) financing, and MAG’s (MVG) assay results were among the big stories in the gold and silver mining industry making headlines Friday.

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

Asian Dragon Group Inc., Finalizes Acquisition of Ophir Exploration Inc., in Mineral Rich Suriname and Appoints of New Lead Director - More
- March 13, 2009 | Item | E-mail

General Moly Announces Annual Stockholder Meeting Date and Location - More
- March 13, 2009 | Item | E-mail

Duncan Park Holdings Corporation Not to Renew Certain Property Lease - More
- March 13, 2009 | Item | E-mail

George Forrest seeks more time to close Forsys deal - More
- March 13, 2009 | Item | E-mail

Darnley Bay Resources Seeks Russian Partnerships Through Almazintech - More
- March 13, 2009 | Item | E-mail

Tiomin Reports 2008 Audited Financial Results - More
- March 13, 2009 | Item | E-mail

Forsys Update on Plan of Arrangement - More
- March 13, 2009 | Item | E-mail

Ivanhoe stock falls after Mongolia review news - "Shares of Ivanhoe Mines Ltd (IVN.TO) tumbled as much as 14 percent on Friday after the Canadian-based mining company indicated an investment deal with the Mongolian government won't come before April.

Ivanhoe said Mongolia will resume considering the investment agreement on the vast Oyu Tolgoi copper and gold mining complex further when its parliament, which ended its current session day, reconvenes in early April." More
- March 13, 2009 | Item | E-mail

Golconda Makes Application to Explore Mitchell Creek Property - More
- March 13, 2009 | Item | E-mail

First Phase Drilling at Platinex's Shining Tree Gold Project Encounters Significant Widths of Gold Mineralization - More
- March 13, 2009 | Item | E-mail

Globex Mining Enterprises Inc.: New NI 43-101 Resource on Nordeau West Gold Zone - More
- March 13, 2009 | Item | E-mail

Ivanhoe Mines Ltd.: Mongolian Parliament's Ongoing Review of Draft Oyu Tolgoi Investment Agreement to Continue as a Priority in April Spring Session - "Ivanhoe Mines (Toronto:IVN.TO - News)(NYSE:IVN - News)(NYSE:IVN - News) welcomes the assurance given today by Mongolia's national Parliament, the State Great Khural, that completion of an Investment Agreement for the development of the Oyu Tolgoi copper-gold mining complex will continue to be a principal priority for Mongolia's coalition government when the Parliament reconvenes during the first week of April in its 2009 spring session." More
- March 13, 2009 | Item | E-mail

San Anton Announces Kings Minerals Share Purchase Plan Offer - More
- March 13, 2009 | Item | E-mail

Ventana Announces Further La Bodega Drill Results-48.00 Metres of 5.35 g/t Au - More
- March 13, 2009 | Item | E-mail

Abitex welcomes new Directors to Board and issues stock options at $0.40 - More
- March 13, 2009 | Item | E-mail

Kinbauri Files Revised Scoping Study; Increased Copper to Be Recovered Boosts Economics - More
- March 13, 2009 | Item | E-mail

Northern Shield Announces VTEM Results from Highbank Lake and Drill Plan for Eastbank PGE Properties in Northwestern Ontario - More
- March 13, 2009 | Item | E-mail

Dominion Minerals to Initiate Arbitration Against Bellhaven Copper & Gold Inc. and Cuprum Resources Corp. - More
- March 13, 2009 | Item | E-mail

Capital Gold Corporation Announces a Second Quarter Increase of 50% in Net Income - More
- March 13, 2009 | Item | E-mail

Leading Independent Advisory Firm Recommends HudBay Shareholders Vote Against SRM's Resolution - More
- March 13, 2009 | Item | E-mail

Lake Shore Gold Announces Appointment of Ignacio Bustamante to Board of Directors - More
- March 13, 2009 | Item | E-mail

AuEx Ventures, Inc.: First Resource Estimate for Long Canyon Confirms Potential Of the Pequop Gold District - More
- March 13, 2009 | Item | E-mail

Northland Appoints 2 New Directors to Board - More
- March 13, 2009 | Item | E-mail

Great Basin Gold Ltd. Completes C$130 Million Equity Financing - "Great Basin Gold Ltd. (the "Company") (TSX: GBG; NYSE Alternext: GBG; JSE: GBG) announces that it has completed its previously announced public offering of 100,000,000 units at a price of C$1.30 per unit resulting in gross proceeds of C$130,000,000. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each full warrant will entitle the holder to purchase a common share of the Company at a price of C$1.60 at any time before 5:00 p.m. (Vancouver time) on October 15, 2010." More
- March 13, 2009 | Item | E-mail

Pacific Rim Mining Announces Fiscal 2009 Third Quarterly Results - "For the three months ended January 31, 2009, Pacific Rim recorded a loss for the period of $(0.4) million or $(0.00) per share, compared to a loss of $(3.7) million or $(0.03) per share for the three months ended January 31, 2008. The $3.3 million decrease in net loss for Q3 2009 compared to Q3 2008 results from significantly reduced exploration expenditures ($1.0 million for Q3 2009 compared to $3.3 million for Q3 2008), a decrease in general and administrative expenses ($0.4 million for Q3 2009 compared to $0.6 million for Q3 2008), an increase in proceeds from discontinued operations (income from Denton-Rawhide was $1.2 million for Q3 2009 compared to $0.3 million for Q3 2008)." More
- March 13, 2009 | Item | E-mail

LGL (Lihir Gold Limited) Gives Notice Under Section 708A(5)(e) of the Corporations Act 2001 (Cth) - "LGL has today issued 171,666,667 fully paid ordinary shares (Shares) at a price of A$3.00 per Share under a placement without disclosure to investors under Part 60.2 of the Corporations Act." More
- March 13, 2009 | Item | E-mail

Fronteer Development Group Inc.: First Resource Estimate for Long Canyon Confirms High-Grade Nature of Emerging Nevada Gold Deposit - "Fronteer Development Group Inc (Toronto:FRG.TO - News)(AMEX:FRG - News) is pleased to announce that a project-first resource estimate for the Long Canyon project has established an important benchmark for this emerging, high-grade, oxide gold deposit located in northeastern Nevada." More
- March 13, 2009 | Item | E-mail

MAG Silver Reports New Silver/Gold Intercepts on Valdecanas Vein - "MAG Silver Corp. (Toronto:MAG.TO - News)(AMEX:MVG - News) ("MAG") reports assay results received from the Juanicipio property operator, Fresnillo plc, from recent definition drilling along the Valdecanas Vein. The three holes reported here were started in early 2009 and completed in February, 2009. The best result from this latest drilling is a high grade gold and silver intercept recorded in Hole PD which returned 2.72 metres (true width) of 1,578 grams per tonne (g/t) (46 ounces per ton (opt)) silver, 5.65 g/t gold, 5.94% lead and 6.67% zinc." More
- March 13, 2009 | Item | E-mail

Paramount Gold and Silver Corp. Executes Definitive Documents for $9,000,000 Equity Financing - "Paramount Gold and Silver Corp. (Toronto:PZG.TO - News) (NYSE.A: PZG) (Frankfurt:P6G.F - News) ("Paramount" or the "Company") has executed a subscription agreement with the subscriber and has received conditional approval of the TSX for a non-brokered private placement (the "Financing") of 12 million units (each, a "Unit") at a price of C$0.75 per Unit for gross proceeds of C$9,000,000 as previously announced on March 5, 2009." More
- March 13, 2009 | Item | E-mail

Luna Gold Negotiates US$25 Million Volumetric Production Payment Contract and Loan - More
- March 13, 2009 | Item | E-mail

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