Virtual Gold Investment Conference: February 22, 2007 Featured Speakers: James Turk, Julian Phillips, Peter Schiff & Bill Murphy Featured Companies: Canarc Resource Corp., Gold Resource Corp., Sunridge Gold Corp. & Buffalo Gold Ltd.

The Metals:

Gold fell slightly in Asia, rebounded to about unchanged in London, fell back to $675.40 in midmorning New York trade, rallied back above $680 in early afternoon trade, fell off just slightly into the close, and ended with a small loss of 0.04%.  Silver fell to $14.11 before it rallied to above $14.30, but it also fell off a bit into the close and ended with a loss of 0.28%.

Euro gold remained above €515, platinum lost $2 to $1,224, palladium gained $4 to $346, and copper gained another 10 cents to about $2.78.

Gold and silver equities rose over 1% at the open before they fell off and briefly saw minimal losses by late morning, but they then rallied back higher in afternoon trade and closed with small gains.

The Economy:

There are no major economic reports due out tomorrow.

The Markets:

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

Oil eventually rose on geopolitical tensions as Iran has defied a UN deadline and not stopped its nuclear program.  Inventory data was mixed as crude inventories built 3.7 million barrels, gasoline inventories fell 3.1 million barrels, distillates fell 5.0 million barrels, and natural gas stock fell 223 billion cubic feet.

The U.S. dollar index rose and treasuries fell in continued reaction to yesterday’s CPI data that cut hopes for an interest rate cut by the fed.

The Dow and S&P fell on worries over Iran and higher oil while the Nasdaq found slight gains on a strong outlook from Analog Devices Inc.

Among the big names making news in the market today were Safeway, Newmont, Barrick, Nestle, HSBC, Apple and Cisco, Toll Brothers, J.C. Penny, and OfficeMax.

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

The Commentary:

“April Gold finished down 1 at 683, 1.7 off the high and 4.2 up from the low.

March Silver closed down 0.023 at 14.25. This was 0.08 up from the low and 0.11 off the high.

The bull camp in gold might have been a little disappointed in the price action Thursday, especially in the wake of the heavy flow of inflationary news and most specifically because of the rather impressive recovery in the energy complex. Some Press outlets were suggesting during the session that the gold market was destined to be supported by the ongoing carry trade in the Yen, but apparently a sharp downside move in the Yen on Thursday didn't provide any support to gold. Even the geopolitical front seemed to provide the gold bulls with a measure of flight to quality concern but even that didn't seem to shift the market into a patently supportive posture. In the end the rally in oil seemed to be offset by strength in the Dollar and perhaps some simple profit taking interest from the prior session.

The silver market was unable to get out from under the choppy to weak action in the gold market in the action Thursday. Apparently the strength in oil prices, the initial new highs in equity prices and a number of anecdotal inflationary signals wasn't enough to clearly put silver in positive ground. Even more surprising is the fact that a massive rally in copper prices couldn't shake the silver market out of a quasi profit taking mode. Even more surprising is the fact that Mexican miner Penoles share price jumped aggressive on Thursday but even that didn't foster enough optimism to lift silver futures prices.” - The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

Might be good if they put some of this into gold

GoldSeek's 'Virtual Gold Investment Conference' is on the air

Barrick accelerates reduction of gold hedges

You can know a few things, or you can have technical analysis

A courageous and principled politician in action

Peter Millar: Seven-fold increase in gold needed to avert debt depression

The Statistics:

As of close of business: 2/21/2007

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: Change in Total Tonnes from yesterday’s data: The NYSE added 4.01 tonnes to its trust.

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:

Earnings from International Royalty (ROY), Richmont (RIC), Newmont (NEM), Coeur (CDE), Barrick (ABX), and Pan American (PAAS), Barrick’s project update, Fronteer’s (FRG) offering in Canada, Cumberland’s (CLG) agreement with Nunavut, International Royalty’s dividend and agreement to acquire a royalty, Golden Star’s (GSS) offering, Exeter’s (XRA) drill results, Banro’s (BAA) drilling update, and Pan American’s Board of Director changes 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:

Raven Gold Corp. Announces Two for One Forward Stock Split - More
- February 22, 2007 | Item | E-mail

Kakanda and Hinterland Combine Interests and Form Otish Basin Joint Venture - More
- February 22, 2007 | Item | E-mail

International Royalty declares first dividend - "International Royalty Corporation (AMEX: ROY, TSX: IRC) (the "Company"or "IRC") is pleased to report that its Board of Directors declared a dividend on February 22, 2007 of US$0.015 per share. The dividend is payable to shareholders of record on March 9, 2007 and will be paid on or about March 26, 2007." More
- February 22, 2007 | Item | E-mail

Zincore and Brett Execute Definitive Earn-In Agreements on Cerro Condorini Property - More
- February 22, 2007 | Item | E-mail

Shares of International Millennium Mining Corp. to commence trading - More
- February 22, 2007 | Item | E-mail

Win-Eldrich Mines' Ashdown Project completes third sale of molybdenum concentrate and mine ramp-up continues - More
- February 22, 2007 | Item | E-mail

Solid Resources announces updates - More
- February 22, 2007 | Item | E-mail

Yale to Start Work on Carol Cu-Zn Property, Sonora, Mexico - More
- February 22, 2007 | Item | E-mail

Sunridge Gold Corp. at the 2007 Gold Investment Conference - Mo