Gold Seeker Closing Report: Gold and Silver Fall Slightly

	Close	Gain/Loss
Gold	$859.30	-$3.70
Silver	$15.16	-$0.14
XAU	182.64	-1.93%
HUI	435.98	-1.75%
GDM	1353.21	-1.60%
JSE Gold	2546.94	+0.07%
USD	76.16	+0.34
Euro	146.94	-0.78
Yen	91.74	-0.50
Oil	$95.09	-$2.82
10-Year	3.839%	-0.015
T-Bond	118.40625	+0.3125
Dow	12827.49	+0.21%
Nasdaq	2499.46	-0.21%
S&P	1416.18	+0.32%

Gold fell to as low as $855.15 in Asia and rose to as high as $864.90 in early New York trade, but it then fell back off for most of the rest of trade and ended with a loss of 0.43%. Silver fell about 1% in Asia before it rebounded in London and saw slight gains at $15.355 in early New York trade, but it then dropped back off in late morning trade and ended with a loss of 0.92%.

Euro gold fell to about €585, platinum lost $20 to $1521, palladium remained unchanged at $370, and copper fell slightly to about $3.11.

Gold and silver equities saw brief gains at the open before they fell to find over 2% losses by mid-afternoon, but they then rallied back higher in the last few minutes of trade and ended with less than 2% losses.

There were no major economic reports today. Tomorrow at 10AM EST brings the Pending Home Sales report for November expected at -0.8% and at 3PM is Consumer Credit for November expected at $8.5 billion.

Starcore International is a gold and silver producer in Mexico and a 'Tier One' company listed on the TSX-V under the symbol SAM.

The San Martin Gold mine was acquired January 2007 from Goldcorp Inc. It is located about 50 km east of the City of Querétaro in Querétaro State, a few hours drive from Mexico City. The company currently retains an 80 to 20 joint venture agreement with Goldcorp. Inc. in the development of the Cerro Dolores, El Transito Deposit 190 km south - southwest of Mexico City. The El Transito Deposit is a silver-lead-zinc replacement orebody defined by over $US 2 million in development expenditures

The U.S. dollar index rose on the view that inflationary pressures may keep the fed from aggressively cutting interest rates.

Treasuries rose on geopolitical concerns as the Pentagon reported that Iranians threatened U.S. ships in the Strait of Hormuz.

The Dow, Nasdaq, and S&P were mixed as traders debated possible fed action and concerns over Iran.

Among the big names making news in the market today were Chrysler, Sony, Krispy Kreme, GM, Sallie Mae, and Microsoft.

“The rise in the gold price is much more than the oil price or the $, sad to say, so expect many, many more such surprises this year and next! The $100 oil price, the falling $ are symptomatic of deeper crises covering a large swathe of problems, which are not going away.”- Julian D.W. Phillips, www.goldforecaster.com

“February Gold finished down 3.7 at 862, 5.7 off the high and 3.5 up from the low.

March Silver closed down 0.172 at 15.29. This was 0.08 up from the low and 0.175 off the high.

The gold market mostly waffled around unchanged throughout the session but the market did seem to spend the majority of the time in negative territory. Certainly a sharp rise in the US Dollar in the wake of a patently weak US Monthly Non Farm payroll report suggests that the Dollar strength was being derived off something other than macro economic psychology. However, with oil prices also off sharply and the outlook for the US economy at times back in question, one could suggest that gold did an impressive job in discounting negative outside market activity. However, the bull camp has to be somewhat disappointed that the gold market was unable to benefit from fresh news of strong Middle East demand dialogue.

The silver market started out weak, tried to climb back above the prior session's close but mostly seemed to favor the bear tilt throughout the session. Certainly weakness in copper and oil prices provided the bear camp with some cover but with the Dollar higher and gold weaker, the bull camp just couldn't find an effective story to stave off the selling interest. With the equity markets maintaining a moderate amount of macro economic anxiety, it isn't surprising to see a host of physical commodity markets like silver encountering some profit taking action. With the Fed expressing slowing concerns and downplaying prospective inflation issues it is possible that some players will move to raise their expectations for a January rate cut and that in turn could undermine the Dollar and that might also be seen as an indirect support for the silver market.”- The Hightower Report, Futures Analysis and Forecasting

Fronteer’s (FRG) drill results, Orezone’s (OZN) debt facility, Ivanhoe’s (IVN) coal project, Cardero’s (CDY) optioned silver project, First Majestic’s (FR.V) mine update, and SNS Silver’s (SNS.V) assay results 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.

Abcourt Mines Inc.: 3,000-Meter Drilling Program Started at Aldermac Property - More
- January 07, 2008 | Item | E-mail

Cardero Options Mina Pirquitas Silver Project, Juyuy Province, Argentina - "Cardero Resource Corp. ("Cardero" or the "Company") (Toronto:CDU.TO - News)(AMEX:CDY - News)(Frankfurt:CR5.F - News) is pleased to announce that it has reached agreement with Davcha Resources Pty. Limited ("Davcha"), a private company based in Australia, to option Cardero's 100% owned Mina Pirquitas Silver Project in Juyuy Province, north-west Argentina. The Company's property partially surrounds the Pirquitas Project of Silver Standard Resources Inc." More
- January 07, 2008 | Item | E-mail

Great Bear Options Birch Project, British Columbia - More
- January 07, 2008 | Item | E-mail

Mongolia withdraws Ivanhoe Mines pact from review - "Mongolia's government has withdrawn a draft investment agreement for a copper and gold project backed by Ivanhoe Mines from consideration by Parliament, and will instead form a group of cabinet and legislators to try and move the project forward, the foreign minister said on Monday." More
- January 07, 2008 | Item | E-mail

Change of Name to Glass Earth Gold Limited and Stock Options Granted - More
- January 07, 2008 | Item | E-mail

New Horizon Announces Director's Resignation - More
- January 07, 2008 | Item | E-mail

Assay Results for Hole: A-07-49 20.19 Meters Grading 11.41% Zinc, 2.24% Lead, 15.36 g/t Silver From 100% Owned Akie Property, B.C. - More
- January 07, 2008 | Item | E-mail

Inspiration Mining Corporation: Shareholder Meeting Postponed - More
- January 07, 2008 | Item | E-mail

Yukon-Nevada Gold Corp. reports further favorable results from Ketza River - More
- January 07, 2008 | Item | E-mail

Laramide Announces Completion of Private Placement - More
- January 07, 2008 | Item | E-mail

Vior Grants Stock Options to Officer - More
- January 07, 2008 | Item | E-mail

Drilling Confirms Significant Economic Potential of Nuinsco's Prairie Lake Uranium Property - More
- January 07, 2008 | Item | E-mail

First Majestic Silver Corp.: La Encantada Silver Mine Update and New NI 43-101 Resource - "First Majestic Silver Corp. (CDNX:FR.V - News)(Other OTC:FRMSF.PK - News)(Frankfurt:FMV.F - News)(WKN: A0LHKJ) ("First Majestic" or the "Company") is pleased to announce an update regarding its activities in Mexico at the La Encantada Silver Mine and a new NI 43-101 Resource/Reserve update." More
- January 07, 2008 | Item | E-mail

SNS Silver Reports Second Intercept in Newly Discovered Vein: 472 g/t (13.8 opt) Over 1.77 Metres - "SNS Silver Corp. ("SNS") (CDNX:SNS.V - News) announces assay results from a second intercept of a newly discovered vein previously reported on November 13, 2007. The new intercept is in diamond drill hole SNS-704a, where it extends 5.82 feet (1.77 metres) with an average grade of 13.78 oz/t (472 g/t) of silver across a true width of 4.77 feet (1.45 metres). This intercept is approximately 80 feet (24 metres) southeast of the discovery intercept in SNS-705, as described in the SNS press release dated November 13, 2007." More
- January 07, 2008 | Item | E-mail

Azteca Gold Corp.: Gold and Silver Drill Intercepts Reported at Guerra Al Tirano - More
- January 07, 2008 | Item | E-mail

Dutton Associates Announces Investment Opinion: Klondex Mines Rating Strong Buy In Update Coverage By Dutton Associates - More
- January 07, 2008 | Item | E-mail

Rockcliff's 2008 Drill Program Commences at Snow Lake VMS Project - More
- January 07, 2008 | Item | E-mail

Romios Announces Closing of $5,180,900 Flow-Through Offering With MineralFields Group, Trinity Wood Mining, frontierAlt and Others - More
- January 07, 2008 | Item | E-mail

Ireland Inc. Expands Board of Directors - More
- January 07, 2008 | Item | E-mail

Maximus Ventures Announces Option Grants - More
- January 07, 2008 | Item | E-mail

USD 6 Million Exploration and Drilling Program in Burkina Faso - More
- January 07, 2008 | Item | E-mail

Copper King Mining Corporation Finalizes Purchase of 62 Claims - More
- January 07, 2008 | Item | E-mail

Mantis Minerals Reports Results of Channel Sampling - All Gold Bearing - More
- January 07, 2008 | Item | E-mail

Lakota Resources Inc. Announces Final Approval of Private Placement of Flow-Through Common Shares - More
- January 07, 2008 | Item | E-mail

Reunion Gold Corporation Completes Early Warrant Exercise Incentive Program - More
- January 07, 2008 | Item | E-mail

AuEx Ventures, Inc.: Long Canyon Core Hole Returns 75 Feet of 0.39 Ounce Per Ton - More
- January 07, 2008 | Item | E-mail

Matamec Signs Matheson JV Option Agreement With Goldcorp Canada Ltd. - More
- January 07, 2008 | Item | E-mail

Phoenix Matachewan Mines Inc./Barville Zn-Ag-17 Anomalies Over 26.5 Km: A New Sturgeon Lake? - More
- January 07, 2008 | Item | E-mail

Little Squaw Examines Alaska's Livengood Bench Placer Gold Deposit - More
- January 07, 2008 | Item | E-mail

53% Increase in gold resource for Etruscan's Finkolo project in Mali - More
- January 07, 2008 | Item | E-mail

Silver Falcon Mining, Inc. (SFMI) Begins War Eagle Operations - More
- January 07, 2008 | Item | E-mail

Canadian Mining Moves Forward with NI 43-101 on San Bernardo Project - More
- January 07, 2008 | Item | E-mail

Emgold achieves important milestone in gold mine permit application - More
- January 07, 2008 | Item | E-mail

Drilling completed at Okeover copper/molybdenum property in B.C. - More
- January 07, 2008 | Item | E-mail

Robert L. Dumont joins International Gold Resources, Inc. as President and Chief Executive Officer. - More
- January 07, 2008 | Item | E-mail

Mosquito Intersects Best Hole to Date in 700 Foot Step-Out at Cumo, Hole 30 Returned 2346 Feet Grading 1.49% Copper Equivalent/0.132% Molybdenite Equivalent - More
- January 07, 2008 | Item | E-mail

Andina Repurchases Pampa Buenos Aires and Encrucijada Royalties from Newmont Mining Corporation - More
- January 07, 2008 | Item | E-mail

Asia Now Samples Up to 2.96 g/t Gold, 242 g/t Silver, 0.94% Molybdenum, 9.96% Copper in Tunnels at Habo - More
- January 07, 2008 | Item | E-mail

BacTech/Scorpio Gold Shareholders Approve Merger - More
- January 07, 2008 | Item | E-mail

Marathon's Ore Fault Agreement Approved by Bird River Mines Shareholders, Drilling to Start in mid January - More
- January 07, 2008 | Item | E-mail

Serengeti Reports Additional Results from Kwanika - More
- January 07, 2008 | Item | E-mail

Anglo Swiss Resources' Kenville Mine Property Receives Mine Permit - More
- January 07, 2008 | Item | E-mail

Vena Intersects 9.3 m Grading 12.3% Lead and 1.0 oz./t Silver at Pucara Polymetallic Project, Peru - More
- January 07, 2008 | Item | E-mail

Kinbauri Gold Lists on Deutsche Bourse - More
- January 07, 2008 | Item | E-mail

Chairman's Letter to Shareholders - Grande Portage Resources Ltd. (TSX.v: GPG) - More
- January 07, 2008 | Item | E-mail

Bolero announces drilling results for Cannivan Gulch project - More
- January 07, 2008 | Item | E-mail

Golden Dawn Minerals Inc (TSX-V: GOM) summarizes successful Swan Drill program, Toodoggone Region, B.C. - More
- January 07, 2008 | Item | E-mail

Golden Phoenix Names Joan Brown to Board of Directors - More
- January 07, 2008 | Item | E-mail

China's Jinchuan to buy Tyler Resources at C$214 mln - More
- January 07, 2008 | Item | E-mail

U3O8 Appoints Dr. Richard Spencer President and CEO - More
- January 07, 2008 | Item | E-mail

Ur-Energy Registers Shares With the U.S. Securities Exchange Commission - More
- January 07, 2008 | Item | E-mail

Goldcorp Declares First Monthly Dividend Payment for 2008 - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) is pleased to declare its first monthly dividend payment for 2008 of $0.015 per share. Shareholders of record at the close of business on Thursday, January 17, 2008 will be entitled to receive payment of this dividend on Friday, January 25, 2008." More
- January 07, 2008 | Item | E-mail

Fronteer Hits 23 Feet of Nearly One Ounce Per Ton Gold at Nevada Property - "Long Canyon defines a totally new gold trend in Nevada and ranks as one of the most significant greenfield discoveries made in the state in the last several years," says Fronteer President and CEO Mark O'Dea. "This emerging deposit shows encouraging grade and tonnage potential and remains open for expansion in all directions." More
- January 07, 2008 | Item | E-mail

Delta Uranium Reports Preliminary Geochemical Results for the Preston East Dome - More
- January 07, 2008 | Item | E-mail

Ditem Signs MOU With Sinosteel for Canadian Properties - More
- January 07, 2008 | Item | E-mail

Yellowcake Acquires Option on Significant Uranium Project - More
- January 07, 2008 | Item | E-mail

Strathmore Signs Option to Acquire Existing NRC Mill Site License and Additional Private Mineral Rights in Gas Hills Uranium District, Wyoming - More
- January 07, 2008 | Item | E-mail

Endeavor Uranium Applies for Drilling Permit - More
- January 07, 2008 | Item | E-mail

Orezone Essakane Project Debt Facility for US$250M - "Orezone Resources Inc. (Toronto:OZN.TO - News)(AMEX:OZN - News) is pleased to announce that it has appointed UniCredit Group (HVB), and The Standard Bank of South Africa Ltd (Standard Bank) as the Mandated Lead Arrangers (MLA's) to arrange and underwrite up to US$250 million of project debt for Orezone's Essakane gold project in Burkina Faso, West Africa." More
- January 07, 2008 | Item | E-mail

SouthGobi Energy Resources Arranges C$80 Million Financing to Develop Coal Properties in Mongolia - "Peter Meredith, CEO of SouthGobi Energy Resources Ltd. (CDNX:SGQ.V - News), and John Macken, President and CEO of Ivanhoe Mines Ltd. (Toronto:IVN.TO - News)(NYSE:IVN - News)(NYSE:IVN - News), announced today that SouthGobi Energy Resources has entered into an agreement with a German Institutional investor for a placement of 10,000,000 common shares at C$8.00 per share, representing an aggregate offering amount of C$80,000,000." More
- January 07, 2008 | Item | E-mail

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