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

The Markets:

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

Oil fell back near $60.00 on profit taking as traders looked ahead to next week’s OPEC meeting that will likely keep current production going at a steady rate.

The U.S. dollar index rose slightly and treasuries fell markedly as the employment report pleased Wall Street and reduced the likeliness that the fed will cut interest rates.

The Dow, Nasdaq, and S&P opened higher on decent economic data, but skeptics of the markets recent rebound sold into rally on a bet of further weakness and the three indices ended mixed and near unchanged.

Among the big names making news in the market Friday were General Electric, Airbus and EADS, and New century Financial.

The Commentary:

“April Gold finished down 3.5 at 652, 7.8 off the high and 2 up from the low.

May Silver closed down 0.15 at 12.97. This was 0.12 up from the low and 0.23 off the high.

The gold market was mostly under-whelmed by the events on Friday morning. While the market could have been lifted by an improvement in the US and global economic outlook as a result of the US payroll readings, it didn't seem like many physical commodity markets, the equity market, or the gold market was definitively cheered on by the US Data. While the gold market finished higher in Europe, choppy action in the US equity market and a slide in the energy complex seemed to prompt gold traders to bank some profits and move to the sidelines. However, from a big picture sense, seeing the US payrolls point to ongoing growth is probably a positive for gold in the face of the recent equity market slide.

While European gold managed to close higher, European silver finished weaker, perhaps in conjunction with session long weakness in both the copper and platinum markets. While the import/export numbers on silver are typically difficult to interpret, it should be noted that US January silver imports declined by 10% and imports of silver in the month rose 14%. As in the gold market the Press suggested that most of the weakness was from simple profit taking and that was probably the case.”- The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

China forms company to spend FX reserves

Paulson tells China: Let Goldman Sachs, Morgan Chase take over your banks

The Statistics:

As of close of business: 3/8/2007

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: Change in Total Tonnes from yesterday’s data:  They NYSE added 6.16 tonnes.

COMEX Gold Trust (IAU)

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

Silver Trust (SLV)

Note: Change in Total Tonnes from yesterday’s data:  30.97 tonnes were added to the trust.

The Stocks:

Freeport-McMoRan’s (FCX) concessions to former Phelps Dodge Corp. shareholders, Crystallex’s (KRY) new auditor search, and Golden Star’s (GSS) over-allotment option closing were among the big stories in the gold and silver mining industry making headlines Friday.

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