- Report of Foreign Issuer (6-K)



 UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549

 FORM 6-K

 REPORT OF FOREIGN ISSUER

 PURSUANT TO RULE 13A-16 OR 15D-16
 OF THE SECURITIES EXCHANGE ACT OF 1934

 For the month of October 2010

 Commission file number: 0-30394

 METALINK LTD.
--------------------------------------------------------------------------------
 (Translation of registrant's name into English)

 YAKUM BUSINESS PARK, YAKUM 60972, ISRAEL
--------------------------------------------------------------------------------
 (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

 Form 20-F [X] Form 40-F [_]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): [_]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): [_]

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 Yes [_] No [X]

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ____________

The following is included in this Report on Form 6-K: Press release dated
October 18, 2010; Metalink Receives NASDAQ Notice of Noncomplaince



 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

 METALINK LTD.

 Date: October 18, 2010 By: /s/ Tzvika Shukhman
 -----------------------
 Tzvika Shukhman
 Chief Executive Officer


Neta Eshed
General Counsel
Metalink Ltd.
Tel: 972-77-4495900
Fax: 972-77-4495901
Neta@MTLK.com

 METALINK RECEIVES NASDAQ NOTICE OF NONCOMPLAINCE

YAKUM, ISRAEL, OCTOBER 18, 2010 - Metalink Ltd. (NASDAQ: MTLK) today announced
that it has received notification from The NASDAQ Stock Market that it is no
longer in compliance with the continued listing requirements for The NASDAQ
Capital Market (Rule 5550(a)(2)) as a result of the closing bid price per share
of the Company's ordinary shares falling below the minimum trading price of
$1.00 for thirty consecutive business days.

NASDAQ provided Metalink with a compliance period of 180 calendar days, or until
April 11, 2011, to regain compliance with the bid price requirement before its
shares will be delisted from NASDAQ. Compliance is achieved if, at anytime
before April 11, 2011, the bid price of the Company's ordinary shares closes at
$1.00 per share or more for at least 10 consecutive business days. At the end of
such compliance period, the Company may be afforded an additional compliance
period of 180 days if it meets the other initial listing requirements of the
NASDAQ Capital Market at that time.

ABOUT METALINK

Metalink shares trade on Nasdaq under the symbol "MTLK". For more information,
please visit our website at http;//www.MTLK.com.

 ###

SAFE HARBOR STATEMENT

This press release contains "forward looking statements" within the meaning of
the United States securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may," "will," "could,"
"should," "believe," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking statements. Because
such statements deal with future events, they are subject to various risks and
uncertainties that could cause actual results to differ materially from those in
the forward looking statements. Factors that could cause or contribute to such
differences include, but are not limited to: absence of significant operations
following the Lantiq transaction; uncertainty as to our future business model
and our ability to identify and evaluate suitable business opportunities; and
our U.S. shareholders may suffer adverse tax consequences if we will be
classified as a passive foreign investment company. Additional factors that
could cause actual results to differ materially from these forward-looking
statements are set forth from time to time in Metalink's filings with the
Securities and Exchange Commission, including Metalink's Annual Report in Form
F-20. Readers are cautioned not to place undue reliance on forward-looking
statements. Except as required by applicable law, the Company undertakes no
obligation to republish or revise forward-looking statements to reflect events
or circumstances after the date hereof or to reflect the occurrences of
unanticipated events. The Company cannot guarantee future results, events, and
levels of activity, performance, or achievements.

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