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

The Markets:

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

Oil rose over 1% ahead of tomorrow’s inventory data on forecasts for cold weather on its way to the Eastern U.S.

The U.S. dollar index fell on mostly disappointing economic data and the euro rose to new 20 month highs.

Treasuries rose on economically disappointing Durable Goods data that sent the yield on to 10-year under 4.5% to 10 month lows.  Gains in bonds moderated a bit after Existing Home Sales came in better than expected and Bernanke did not hint toward a future interest rate cut as some had hoped for, but treasuries still ended with decent gains.

The Dow, Nasdaq, and S&P traded in a tight range near unchanged as mildly positive Existing Home Sales data offset economically disappointing Durable Goods and Consumer Confidence reports.

Among the big names making news in the market today were NYSE and NASD, Vornado, Boeing, and EMI.

The Commentary:

 “As MIDAS stated in New Orleans and in this commentary the past couple of weeks, I have never been more silver bullish. Not because I’m smart but because of the input we have received from our sources:

*Hochschild Mining Management told attendees at a London conference the Chinese are buying silver. They were supposed to be, or used to be, the sellers.

*The Arabs are quietly and steadily moving silver from London to Dubai.

If the Chinese and Arabs are buying up this tiny market, how can the price stay down for long? So far, it has not since we received both inputs. Being short silver is a death wish in my book.” - From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com

“December Gold finished down 3.3 at 637.3, 4 off the high and 4.8 up from the low.

December Silver closed up 0.13 at 13.62. This was 0.19 up from the low and 0.04 off the high.

The bull camp would suggest that the recovery bounce in the gold market was impressive but with the Dollar down sharply and the US economic numbers creating a significant amount of uncertainty, it is surprising that the gold market wasn't able to forge gains similar to the silver and platinum markets. However, aggressive fund liquidation early in the session seemed to diffuse bullish sentiment and with the Fed seemingly banging the rate hike drum with their comments, it is not surprising that a number of would-be buyers were pushed to the sidelines. With a number of IMF and EU officials suggesting that the Euro could rise to 1.40 or 1.50 with a significant problem resulting, one would think that the path to even lower Dollar values has been cleared. While some US numbers were better than expected on Tuesday, it would seem like the macro economic and interest rate differentials are set to keep pressure on the Dollar, which in turn should temper some of the liquidation pressure in gold.

The silver market once again outperformed the gold market. In fact, the silver market even managed the impressive gains Tuesday in the face of a sharp slide in copper prices. In other words, the silver market seemed to be able to play down the slowing of the US numbers and at the same time was also able to disassociate itself from the weakness in the gold market. In short, the silver market is marching to its own drummer but from a fundamental perspective, it is difficult to determine what theme the bulls are attempting to embrace.” - The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

Ambrose Evans-Pritchard: Currency controls for Europe not so far-fetched

Former money manager Armstrong stays in jail for contempt

Ford mortgages nearly all U.S. assets to borrow $18 billion

The Statistics:

As of close of business: 11/27/2006

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 Note: Change in Total Tonnes from yesterday’s data: The NYSE added 1.85 tonnes.

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:

Rubicon’s (RBY) Plan of Arrangement, Great Basin’s (GBN) prospecting right, Exeter’s (XRA) drill results, Gold Fields’ (GFI) expansion projects, First Majestic’s (FR.V) private placement, and ECU Silver’s (ECU.V) quarterly 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:

Richview Resources Inc. Announces $4 Million Private Placement - More
- November 28, 2006 | Item | E-mail

Yukon Resources Announces Private Placement Financing of US$2,650,000 with Dundee Securities Corporation - More
- November 28, 2006 | Item | E-mail

Bellhaven Grants 100,000 Incentive Stock Options - More
- November 28, 2006 | Item | E-mail

Ditem Increases $1.5 Million Brokered Private Placement to $1,750,000 - More
- November 28, 2006 | Item | E-mail

Win-Eldrich Mines Announces $381,000 Private Placement - More
- November 28, 2006 | Item | E-mail

Iberian Minerals Corp.: Additional Licences Acquired - More
- November 28, 2006 | Item | E-mail

Tonogold Retains AGORACOM Investor Relations - More
- November 28, 2006 |