Timberline Resources Corp. [OTC-BB: TBLC] Upside Through Discovery • Record Revenues - Drilling Services

The Markets:

Charts Courtesy of http://finance.yahoo.com/

Oil climbed over 2% and got back above $60 on supply disruptions in Alaska and the North Sea.  Traders were also preparing for tomorrow’s supply reports and for a long Holiday weekend.

The U.S. dollar index remained near unchanged for most of trade on a lack of significant economic data, but it did slip late in the day after the fed’s Fisher said he was “comfortable presently with where we are” in terms of interest rates.

Treasuries fell in early trade on some inflationary comments from the fed’s Warsh, but they then rose in later trade and ended decently higher as the White House reduced their expectations for future economic growth.

The Dow, Nasdaq, and S&P all found slight gains after some mixed trade as higher oil prices battled lower interest rates and decent company news.

Among the big names making news in the market today were Dell, Google, ITV and NTL, Jack in the Box, Deere, and Korean Air and Boeing.

The Commentary:

“With Platinum a feature of the day going through the ceiling so quickly, with a 10% jump, all are asking if this market is taking off.   Bearing in mind supply is slow to react to such rising demand, the supplies will be available fairly soon, if the producers are to be believed.   What is of constant concern in any market is the way demand can overtake supply very quickly when the market is evenly balanced.   The power of that demand and supply balance is being demonstrated in the Platinum market right now.  With a near-panic situation prices are dangerously erratic.   As we said before the shares are the way to get the best from this market unless one is a short-term Trader.  The Traders are being made or broken in that market right now.

In gold the trend influence is strong and gently pushing up prices in the world outside the States.   This gives us a good perspective on the gold market, outside the States and helps U.S. professionals see the real shape of the market.   It is likely that the funds will give attention not just to the Platinum market but to other precious metals soon.

The Platinum price has not risen for solid reasons, merely speculation, so might well continue erratic both ways so long as the balance of demand / supply remains finely balanced.   The small deals can now cause a large price move, so Traders, be careful to balance the risk reward factor.” - Julian D.W. Phillips, www.goldforecaster.com

“European bullion dealers and pundits pounded the table in August and September that the huge physical market selling had to be of Washington Agreement central bank origin. Our GATA camp suggested it probably was The Gold Cartel. Well if Trichet says it was not those W A signatories, then it had to be The Gold Cartel.

Will the Barclays type hypocrites ever admit they were wrong? No, but we know it is a big win for our camp.

The win for GATA is even better than that. The BIS gold derivatives numbers for the first half of the year just came out. I am sure Reg Howe will publish something on this in the weeks ahead. The bottom line is the gold derivatives surged even as the gold producers were reducing their hedges. Once again, if it was not the hedgers putting on derivatives positions, who was it? Same answer … Gold Cartel.” - From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com

“December Gold finished up 6.6 at 628.7, 0.3 off the high and 3.9 up from the low.

December Silver closed up 0.345 at 13.085. This was 0.155 up from the low and 0.015 off the high.

While the gold market seemed to get its initial support from the sharp rise in the platinum market, the gold market managed to sustain its strength well after the platinum market suffered massive profit taking. Therefore, it seems as if the gold market indirectly benefited as a result of the platinum action but that the forces that lifted gold prices were in the end perhaps something altogether different. While some players were talking up a renewed risk of inflation that seemed unlikely given that Treasury bonds actually managed a late closing breakout above some consolidation resistance. However, the oil market was higher off of weather delays at Alaskan ports and the energy trade was also playing up the idea that OPEC might be planning to improve its compliance with past production cuts. Therefore it is possible that the expectation of inflation and the expectations of higher oil prices were indeed providing support to gold prices on Tuesday. However, given all the attention garnered by platinum this week, one can't completely discount the potential that the platinum buzz did spill over into the gold market.

While the silver market was initially lifted by the sharp platinum gains and then was lifted by the strength in oil prices, in the end the market seemed to add to the gains late in the day on its own accord. With a return to the vicinity of the highest close since the September 6th high close, the December silver contract looked as if it was preparing to make an upside breakout on the charts. Certainly the gold rally was a major component of the silver rally and certainly the buzz created by the platinum market attracted some buyers to silver.” - The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

ETF talk boosts platinum but analyst says there's too little metal for one

Home sales plummet in 38 states in 3rd quarter

Hong Kong plans gold depository to compete with U.S., Europe

The Statistics:

As of close of business: 11/20/2006

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU)

 Note: No change in Total Tonnes from yesterday’s data.

Silver Trust (SLV)

 Note: No change in Total Tonnes from yesterday’s data.

The Stocks:

Metallica’s (MRB) defeated legal challenge, Agnico-Eagle’s (AEM) exploration update, Newmont’s (NEM) arbitration in Uzbekistan, Taseko’s (TGB) offer for bcMetals (C.V), Silver dragon’s (SDRG.OB) first silver bar pour, and Excellon’s (EXN.V) financial results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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

All of today's gold and silver stock news:

Latin American Minerals Inc. Announces Closing of Private Placement - More
- November 21, 2006 | Item | E-mail

Noront Resources Ltd.: Tie Jiang Ying Zi Property, Inner Mongolia, China Referred to as China One Project - More
- November 21, 2006 | Item | E-mail

Perihelion Global Files Mining Claims on 800 Acres Surrounding Patented Gold Mine Acquisition - More
- November 21, 2006 | Item | E-mail

Canarc Drilling Intersects Additional High Grade Visible Gold Mineralization at New Polaris Property, BC - More
- November 21, 2006 | Item | E-mail

Eden Phase 2 drilling results identify thick gold intervals and outline favorable gold-bearing structures - More
- November 21, 2006 | Item | E-mail

Cadiscor Resources Inc. Grants Stock Options to Dresden Capital Inc. - More
- November 21, 2006 | Item | E-mail

Amex Exploration Inc. starts a new drill program at Normetal - More
- November 21, 2006 | Item | E-mail

BacTech/Mintek Biogold Plant Wins Environmental Award - More
- November 21, 2006 | Item | E-mail

Pershimco Resources Inc.: Pilot Production to Start at Cusi, Mexico - More
- November 21, 2006 | Item | E-mail

Southern Star Drilling Intersects 108.3 g/t Au Over 3.8 M and 107.7 g/t Au Over 3.9 M and Extends Bruce Channel Gold Discovery 200 Meters - More
- November 21, 2006 | Item | E-mail

Exall Resources Limited: Step-Out Drilling Intersects 108.3 g/t Au Over 3.8 M and 107.7 g/t Au Over 3.9 M Bruce Channel Discovery Strike Length Extended - More
- November 21, 2006 | Item | E-mail

Altius Acquires New Uranium and Nickel Projects in Labrador, Canada - More
- November 21, 2006 | Item | E-mail