Gold Seeker Closing Report: Gold and Silver Gain Over 1%

	Close	Gain/Loss
Gold	$802.90	+$8.40
Silver	$14.03	+$0.22
XAU	162.06	+1.82%
HUI	382.11	+1.92%
GDM	1181.97	+1.97%
JSE Gold	2284.76	-0.80%
USD	77.44	+0.03
Euro	144.09	+0.08
Yen	88.24	-0.14
Oil	$89.10	-$1.53
10-Year	4.120%	-0.073
T-Bond	115.28125	+0.9375
Dow	13232.47	+0.50%
Nasdaq	2596.03	+0.84%
S&P	1454.98	+0.63%

Gold dropped to $790.75 in Asia and then rose to $806.50 by early trade in New York before it fell back under $800 by late morning, but it then rallied back higher into the close and ended near its high of the session with a gain of 1.06%. Silver dropped to $13.75 and rose to $14.12 before it fell back under $13.90, but it also rallied back higher in afternoon trade and ended with a gain of 1.59%.

Euro gold rose to about €557, platinum gained $13 to $1507 to a new record high, palladium gained $2 to $356, and copper fell a couple of cents to about $2.84.

Gold and silver equities rose about 2% at the open before they dipped to find slight losses with the major indices by late morning, but they then rallied back higher in afternoon trade and ended with nearly 2% gains.

Report	For	Reading	Expected	Previous
Housing Starts	Nov	1187K	1175K	1229K
Building Permits	Nov	1152K	1150K	1170K

Housing Starts fell again and Permits dropped to a 14-year low. Today the fed also announced new rules for the mortgage industry to help combat problems that began in subprime mortgages and spread to other areas in the credit industry. There are no major economic reports due out tomorrow.

Oil rose in early trade on news that Turkey entered Iraq and on news that a number of refineries went on strike in France, but prices then pulled back after it was announced that Turkish troops were in fact withdrawing from Iraq and oil ended back under $90 with a more than 1% loss.

The U.S. dollar index ended slightly higher and treasuries rose on poor housing data and news that the European Central Bank allotted a huge $501 billion to banks in an effort to ease the global credit crunch.

The Dow, Nasdaq, and S&P rose markedly at the open and fell noticeably by early afternoon, but they then rallied to new highs by the close as traders digested earnings reports and news from the ECB and Fed.

Among the big names making news in the market today were Lilly, Best Buy, Goldman Sachs, and Sprint Nextel.

“February Gold finished up 8.1 at 807.4, 3.6 off the high and 4.9 up from the low.

March Silver closed up 0.185 at 14.165. This was 0.14 up from the low and 0.085 off the high.

Despite the US Dollar managing to mostly hold in positive ground throughout the trading session, the February gold contract managed to post a fairly impressive range up attempt. With the energy market reversing its early strength and at times tracking sharply lower, the strength in gold prices was even more impressive. It also seemed as if the early strength in equity prices provided a lift to gold but, but it should also be noted that a mid day slide in equities didn't really seemed to undermine gold prices. With platinum spiking sharply higher and forging a significant new all time high price, it is possible that the gold market was indirectly buoyed by broad based speculative interest in the precious metals sector.

The silver market mostly mirrored the favorable action in the gold and platinum markets throughout the action Tuesday. Surprisingly the silver market wasn't specifically undermined by the clear reversal in the US equity market, but even more surprising is the fact that the silver bulls weren't notably discouraged in the wake of the soft US housing starts data. Even a two sided choppy trade in copper and the US Dollar failed to weaken the resolve of the silver bulls and that would seem to be a change of pace versus the last week's trade action.” - The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: StreetTRACKS added 1.53 tonnes to a new record high and the ASX added 0.31 tonnes.

Claude’s (CGR) exploration plans, Almaden’s (AAU) optioned project interest, NovaGold’s (NG) drill results, Exeter’s (XRA) drill results, Newmont’s (NEM) cleared suit in Indonesia and Canadian approval to acquire Miramar (MNG), ECU’s (ECU.TO) resource estimate update, Hecla’s (HL) closed stock offering, Bear Creek’s (BCM.V) drill results, and Aquiline’s (AQI.TO) upcoming supreme court response were among the big stories in the gold and silver mining industry making headlines today.

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

Temex Acquires Strategic Latchford Gold Project Exploration Program Planned For Early 2008 - More
- December 18, 2007 | Item | E-mail

Maximus Ventures Announces its Financial Results for the Year Ended September 30, 2007, Appointments and Option Grants - More
- December 18, 2007 | Item | E-mail

Ecuador seeks to tax miners' windfall revenue - "Ecuador wants to slap a 70 percent windfall-revenue tax on mining companies which would kick in when the prices of copper, gold and other commodities exceed a certain level, Oil and Mining Minister Galo Chiriboga told Reuters on Tuesday." More
- December 18, 2007 | Item | E-mail

Chapleau Commences Drilling on the La Yegua Porphyry Copper ( /- Gold and Molybdenum) Project in Southern Peru & Mr. Ian Gendall Appointed President - More
- December 18, 2007 | Item | E-mail

Klondike Star Intersects 1.54 g/t Gold Over 15.2m at the Pioneer Zone - More
- December 18, 2007 | Item | E-mail

Gold Canyon Closes Private Placement for $3 Million - More
- December 18, 2007 | Item | E-mail

GoldSpring, Inc. Hires Drilling Contractor and Drilling Expected to Commence Immediately - More
- December 18, 2007 | Item | E-mail

Roxmark completes $1.18 million flow-through financing - More
- December 18, 2007 | Item | E-mail

ECU Silver Update on New Resource Estimate - "Our geological team in Mexico is working diligently and with considerable intensity to reclassify the above mentioned resources, as well as implementing the other recommendations made by Micon. Due to this work and the upcoming holiday season, we now anticipate that the new resource estimate will be released early in the New Year. We continue to look forward to the reporting of our new resource estimate." More
- December 18, 2007 | Item | E-mail

Newmont Offer to Acquire Miramar Mining Receives Investment Canada Approval - "Newmont Mining Corporation (NYSE: NEM - News) announced today that the Minister of Industry, The Honourable Jim Prentice, confirmed that he is satisfied that the acquisition of Miramar Mining Corporation (Amex: MNG, TSX: MAE), on the terms provided in the support agreement relating to the transaction and certain undertakings provided by Newmont, is likely to be of net benefit to Canada, as required by the Investment Canada Act." More
- December 18, 2007 | Item | E-mail

Hecla Closes Offering of 6.5% Mandatory Preferred Convertible Stock - "Hecla Mining Company (NYSE:HL - News) today announced the closing of its public offering of 1.75 million shares of its 6.5% mandatory convertible preferred stock (“Preferred Stock”) at $100.00 per share. The underwriters also exercised their option to purchase an additional 262,500 shares of Preferred Stock to cover over-allotments." More
- December 18, 2007 | Item | E-mail

Mexivada completes drilling at Moly Dome; Projects Update - More
- December 18, 2007 | Item | E-mail

Claude Resources Inc. Updates Madsen Exploration Plans - "2008 Exploration Budget Nearly Doubles Over 2007" - "The significantly expanded 2008 Madsen exploration program will focus on three advanced exploration targets and seven regional and/or conceptual targets" stated Brian Skanderbeg, Claude Resources' Exploration Manager. "This approach will enable Claude Resources to execute its strategy of focusing on the expansion of the existing 500,000 ounce resource at the Madsen Project." More
- December 18, 2007 | Item | E-mail

Rocmec's Due Diligence Confirms Extension of Narrow High Grade Vien Systems on the Puma Property in Peru - More
- December 18, 2007 | Item | E-mail

Almaden Options Nicoamen River to Zenith Industries Corp. - "Almaden Minerals Ltd. ("Almaden") (Toronto:AMM.TO - News)(AMEX:AAU - News) is pleased to announce that it has signed an option agreement with Zenith Industries Corp. ("ZIN") (CDNX:ZIN-PCGH.V - News) whereby ZIN can acquire a 60% interest in Almaden's Nicoamen River project, British Columbia." More
- December 18, 2007 | Item | E-mail

Renforth Resources Inc. Completes Private Placement - More
- December 18, 2007 | Item | E-mail

Acero-Martin Intersects 44.80 Meters of 1.18% Cu at Pinaya Project, Peru - More
- December 18, 2007 | Item | E-mail

Freewest Partners With Rockport Mining Corp. to Explore its Golden Ridge Property in New Brunswick and Maine - More
- December 18, 2007 | Item | E-mail

Golden Cycle Gold Corporation Joint Venture Operations Update - More
- December 18, 2007 | Item | E-mail

Azimut delivers a Notice of Default to NWT Uranium Corp. in respect of the North Rae and Daniel Lake properties, Ungava Bay region, Quebec - More
- December 18, 2007 | Item | E-mail

SRA's MTM Zinc Complex Gears Up Towards Full Commissioning as Mining at Gordonsville Continues to Accelerate - More
- December 18, 2007 | Item | E-mail

Harmony to reveal uranium decision Wednesday - More
- December 18, 2007 | Item | E-mail

Merc International Announces Amendment to Borthwick Lake Agreement - More
- December 18, 2007 | Item | E-mail

Sherwood Reports Phase 2 Mill Expansion at Minto Copper-Gold Mine Completed Ahead of Schedule - More
- December 18, 2007 | Item | E-mail

Golden Goose completes 7,150-metre fall drilling program on its Lac Levac nickel property in James Bay - More
- December 18, 2007 | Item | E-mail

GBS Gold Approves Tom's Gully Start-Up and Declares Initial Mineral Reserve - More
- December 18, 2007 | Item | E-mail

Mantis increase King Dodds holdings by acquiring additional 56 Claims in the former Kowkash Gold District - More
- December 18, 2007 | Item | E-mail

C2C Announces a Modification in the Agreement With David Andres Machuca Granda Following the Due Diligence Results and Is Heading Towards the Closing - More
- December 18, 2007 | Item | E-mail

Gold Reef International Executes Drilling Contract to Core Drill Newmont Rimrock Project, Lander County, Nevada - More
- December 18, 2007 | Item | E-mail

Full Metal Expands Extent of Lucky Shot Gold Property, Commissions Underground Exploration Study - More
- December 18, 2007 | Item | E-mail

Nevada Copper Files NI 43-101 Technical Report on Sedar - More
- December 18, 2007 | Item | E-mail

Chariot Announces Drill Intercepts as High as 11.08% Cu Over 2 Metres From Cu 40 Sulphide Zone - More
- December 18, 2007 | Item | E-mail

Metanor Resources Inc.: Update of the Channel Sampling at the Barry Deposit - More
- December 18, 2007 | Item | E-mail

$500,000 Private Placement with MineralFields Group to Fund Medallion Gold Exploration - More
- December 18, 2007 | Item | E-mail

Rare Element Reports Encouraging Rare-Earths Drill Results from Bear Lodge Property - More
- December 18, 2007 | Item | E-mail

Tara Gold Advises That Allegations of Breach of the Las Minas Option Agreement Are Without Merit - More
- December 18, 2007 | Item | E-mail

Delta Uranium Reports Additional Geochemical Results for the Bee Lake Uranium Occurrence - More
- December 18, 2007 | Item | E-mail

Canadian Shield Closes Private Placement at $0.30 Per Unit Representing Significant Premium to Market - More
- December 18, 2007 | Item | E-mail

Argentex appoints Patrick Downey to advisory board - More
- December 18, 2007 | Item | E-mail

Franklin Confirms Escala in First Phase of Production - More
- December 18, 2007 | Item | E-mail

Constitution Mining Acquires Option on Gold Projects in Argentina - More
- December 18, 2007 | Item | E-mail

Katanga Successfully Produces First Copper Cathode - More
- December 18, 2007 | Item | E-mail

General Metals Update: Larry M. Bigler, CPA of Reno, NV Joins Company Board of Directors as Independent Director and Member of the Audit Committee - More
- December 18, 2007 | Item | E-mail

Phoenix: 30 New Claims Staked Next to Abcourt Barvue Zinc-Silver Mine, Options Granted - More
- December 18, 2007 | Item | E-mail

General Moly Announces Letter of Intent for Formation of Joint Venture With POSCO for Mount Hope Project - More
- December 18, 2007 | Item | E-mail

Houston Lake Continues to Intersect Significant Gold Values in Channel Samples at West Cedartree - More
- December 18, 2007 | Item | E-mail

Romios Intersects 7.82 gpt Gold Over 19.69 Metres-Includes High Grade Zone of 27.32 gpt Gold Over 2.35 Metres at Its Newmont Lake Property - More
- December 18, 2007 | Item | E-mail

Amarillo Reports on the Discovery of a New, Near-Surface Gold Zone on the Caneleira Prospect, Lavras do Sul, Brazil - More
- December 18, 2007 | Item | E-mail

Sulliden Reports Half Year Results - More
- December 18, 2007 | Item | E-mail

Goldrea Options Yalokam Copper, Gold Moly Target Located in British Columbia - More
- December 18, 2007 | Item | E-mail

Freegold Intersects New Gold Zone and Delineates Additional Moly at Almaden - More
- December 18, 2007 | Item | E-mail

Sino Gold announces compulsory acquisition of remaining Golden China shares - More
- December 18, 2007 | Item | E-mail

POSCO to invest $170 mln in U.S. molybdenum - More
- December 18, 2007 | Item | E-mail

A Personal Note from the President of Globex to Shareholders - More
- December 18, 2007 | Item | E-mail

Mercator extends offer to allow time for Tyler shareholders to tender - More
- December 18, 2007 | Item | E-mail

Universal Uranium Ltd. and Silver Spruce Resources Inc.: Completion of Definition Drilling-Two Time Zone - More
- December 18, 2007 | Item | E-mail

Resource Capital Research Issues Fourth Quarter Equity Research Report on Global Uranium Companies - More
- December 18, 2007 | Item | E-mail

Jourdan Closes a $400, 120 Private Placement With Northen Precious Metals 2007 L.P. - More
- December 18, 2007 | Item | E-mail

Silver Spruce Resources Inc. and Universal Uranium Ltd.: Completion of Definition Drilling-Two Time Zone - More
- December 18, 2007 | Item | E-mail

NovaGold Reports Results from Donlin Creek Drill Campaigns - "NovaGold Resources Inc. (Toronto:NG.TO - News)(AMEX:NG - News) today released final drill results from the 2006 Donlin Creek infill drill program and the majority of results from the 2007 program. These results continue to indicate resource expansion potential beyond the 2006 Preliminary Economic Assessment pit limits, highlighting the district-scale potential of this world-class property." More
- December 18, 2007 | Item | E-mail

Exeter Further Extends High Grade Cerro Moro Vein System - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") reports the discovery of two new mineralized vein sets on its 100% owned Cerro Moro gold-silver project in Santa Cruz Province, Argentina. The discovery of the Silvia and Gabriela veins arose from Exeter's drilling program to prioritise targets located beyond the known Escondida vein system." More
- December 18, 2007 | Item | E-mail

Bear Creek's Santa Ana drilling continues to expand silver mineralization including high-grade intercepts on the perimeters of the Open Footprint - "Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce results from fifteen additional diamond drill holes (3,483 meters). Drilling at Santa Ana now totals 20,060 meters in 113 drill holes. Santa Ana is located 200 kilometers south of the Company's world class Corani silver-base metal deposit in southeastern Peru." More
- December 18, 2007 | Item | E-mail

Aquiline Resources Inc.: Supreme Court Response to be Delivered Thursday December 20, 2007 - "Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI - News) advises that the Supreme Court of Canada has announced that it will release its response on the application of IMA Exploration Inc., et. al. ("IMA") v. Minera Aquiline Argentina SA this Thursday, December 20, 2007 at 9:45 am ET. If IMA's application for leave to appeal is denied by the Supreme Court of Canada, then there will be no further appeal recourse for IMA and Aquiline will become the ultimate owner of Navidad." More
- December 18, 2007 | Item | E-mail

Indonesia court clears Newmont in pollution suit - "An Indonesian court on Tuesday cleared the local unit of Newmont Mining Corp. (NEM.N: Quote, Profile, Research) over an environmental group's lawsuit accusing it of polluting a bay near a gold mine." More
- December 18, 2007 | Item | E-mail

Mining mergers to continue, Desjardins says - "A lack of easily developed mineral discoveries and rising costs suggest the recent wave of mining takeovers should continue, with Alcoa (AA.N: Quote, Profile, Research) and Teck Cominco (TCKb.TO: Quote, Profile, Research) likely among the next big names to get taken out, Desjardins Securities said on Tuesday." More
- December 18, 2007 | Item | E-mail

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