Gold Seeker Closing Report: Gold and Silver Fall Slightly While StreetTRACKS Rises To New Record High Holding

	Close	Gain/Loss
Gold	$900.60	-$1.30
Silver	$16.20	-$0.09
XAU	190.50	-3.41%
HUI	462.29	-3.89%
GDM	1415.39	-3.83%
JSE Gold	2717.83	-52.51
USD	75.66	+0.05
Euro	148.25	-0.48
Yen	93.35	+0.90
Oil	$91.90	-$2.30
10-Year	3.701%	-0.092
T-Bond	119.53125	+1.03125
Dow	12501.11	-2.17%
Nasdaq	2417.59	-2.45%
S&P	1380.95	-2.49%

Gold traded decently higher in Asia and London and then fell to find a slight loss back near $900 in early New York trade before it spiked higher around 10AM EST to as high as $914.10 to get within 20 cents of yesterday’s all time high, but it then plummeted in later morning trade to as low as $893.50 by early afternoon. The last hour and a half of trade saw the yellow metal rally back higher and trade on either side of $900, but it still ended with a slight loss of 0.14%.

Silver rose to $16.52 in Asia before it dropped to as low as $15.927 by early afternoon in New York, but it also rallied back higher for most of the rest of trade and ended with a loss of just 0.55%.

Euro gold fell to about €606, platinum lost $14 to $1576 to fall from a record high, palladium lost $2 to $378, and copper fell over 10 cents to about $3.24.

Gold and silver equities fell about 4% by mid-afternoon before they rebounded slightly into the close, but they still ended with over 3% losses.

Report	For	Reading	Expected	Previous
Retail Sales	Dec	-0.4%	0.0%	1.0%
Retail Sales ex-auto	Dec	-0.4%	-0.1%	1.7%
PPI	Dec	-0.1%	0.2%	3.2%
Core PPI	Dec	0.2%	0.2%	0.4%
NY Empire State Index	Jan	9.0	10.0	9.8
Business Inventories	Nov	0.4%	0.4%	0.1%

Tomorrow at 8:30AM EST brings CPI and Core CPI for December both expected at 0.2%. At 9AM is the Net Foreign Purchases report for November, at 9:15 is Industrial Production for December expected at -0.2% and Capacity Utilization expected at 81.2%, and at 2PM is the release of the fed’s Beige Book.

Oil resumed its fall on worries about a slowing economy and its impact on falling demand. Saudi oil minister Al-Naimi also stated that they will increase production if “the market justifies it” while traders prepared for inventory reports tomorrow which are expected to show the first crude build in 9 weeks.

The U.S. dollar index fell in early trade on recession fears, but it ended with a slight gain after the fed did not surprisingly cut interest rates today as some had hoped for along with the announcement of their auction of $30 billion to banks to combat the credit crises in the “third in a series of innovative auctions the Fed began last month as a way to provide cash-strapped banks with the reserves they need.”

Treasuries rose noticeably as the Dow, Nasdaq, and S&P fell markedly on poor results from Citigroup and on disappointing Retail Sales. The yield on the 10-year fells to its lowest since early 2004 and the major indices fell to their lowest since last spring.

Among the big names making news in the market today were Apple, Citigroup, Merrill Lynch, and State Street.

“February Gold finished down 0.8 at 902.6, 12.7 off the high and 7.1 up from the low.

March Silver closed down 0.125 at 16.3. This was 0.28 up from the low and 0.25 off the high.

April gold did manage another new high for the move with the initial pulse up on Tuesday. However, the market seemingly recoiled from that new high and finished the day toward the low end of the trading range. Apparently the gold trade became a little more concerned with the threat of slowing or perhaps the action in the Dollar wasn't weak enough to offset a series of negative outside market developments. With the oil prices following through on the downside and in the process reaching the lowest price level since December 21st, one of the other stalwart performers of the commodities bull market seems to have come under noted pressure. Certainly seeing the US equity market down hard and in a pattern of hard declines lately heightens the recession/slowing fears and that in turn seems to have prompted some gold investors to bank profits.

With the silver market also posting a massive trading range and seemingly favoring the lower portion of the range into the close Tuesday, it would seem like the silver market is seeing pressure from the deterioration in the US economy. Apparently a number of physical commodities were undermined by the magnitude of the decline in the equity markets but it would also seem like a softer than expected US retail sales report added yet another element of concern to the equation. With copper prices at times down by nearly 12 cents and crude oil prices at one time down by as much as $3.00 a barrel, it would also seem like the recent inflation look translated into a deflation look. With the US PPI showing a contraction for the latest monthly report that was released on Tuesday morning, it was clear that the inflation argument was falling in sync with the pace of the US economy and that put pressure on industrial markets like silver.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: StreetTRACKS added 10.75 tonnes to climb to a new record high holding.

Claude’s (CGR) production results, Cardero’s (CDY) scoping study, Exeter’s (XRA) drill results, Minco Gold’s (MGH) appointments, Banro’s (BAA) updated Mineral Resource estimates, Bear Creek’s (BCM.V) final earn-in payment on Corani, Great Panther’s (GPR.TO) resource estimates update, Endeavour’s (EXK) record silver production, Coeur’s (CDE) management promotions, and Orko’s (OK.V) drill 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.

Wave Uranium Records 1327 Claims in Southeastern Utah - More
- January 15, 2008 | Item | E-mail

Sulliden comments on Century offer - More
- January 15, 2008 | Item | E-mail

Soltoro Completes Drill Program on Bacanora Gold Project - More
- January 15, 2008 | Item | E-mail

Atlanta Gold Strengthens Board and Management Team to Bring Atlanta Gold Project to Early Production - More
- January 15, 2008 | Item | E-mail

Amerigo Announces Q4 2007 Production Results - More
- January 15, 2008 | Item | E-mail

Rocmec Mining Inc.: Geostat Confirms the Presence of 2 Mineralised Structures on Puma Property in Peru - More
- January 15, 2008 | Item | E-mail

Armistice Resources Corp. - Project Update - More
- January 15, 2008 | Item | E-mail

Moss Lake retains Watts, Griffis and McOuat for Preliminary Assessment report - More
- January 15, 2008 | Item | E-mail

Strait Gold Appoints Weston as Vice President Exploration - More
- January 15, 2008 | Item | E-mail

Bear Creek completes earn-in on Corani silver deposit; final payment to Rio Tinto vests ownership at 70% - "Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce that the final payment of US$3 million, has been made to Rio Tinto Mining and Exploration Ltd. ("Rio Tinto") resulting in Bear Creek owning 70% of the Corani silver and base-metals deposit, subject to certain success payments, purchase rights provisions, and claw-back rights as previously disclosed." More
- January 15, 2008 | Item | E-mail

Copper King Mining Corporation Signs Letter of Intent to Acquire Western Utah Copper Company. - More
- January 15, 2008 | Item | E-mail

Great Panther Provides Update on Resource Estimates - "Wardrop has now delivered preliminary numbers for an updated NI 43-101 compliant resource estimate for the La Gloria and Las Palmitas Zones on the Mapimi Project in northeastern Durango State, Mexico. The new estimate includes the twenty-nine core holes, representing 6,298 metres, completed during Great Panther's Phase I drilling program in the first half of 2007. In the current estimate, Wardrop has used different parameters than in the previous resource, estimated in 2006 from the 1997-98 reverse circulation and core drilling of Coeur d'Alene Mines Corp., and has changed portions of the geological interpretation. As such, the Company is reviewing the new estimate with Wardrop personnel. It is anticipated that this process could take several weeks." More
- January 15, 2008 | Item | E-mail

Aranka Gold Announces Property Acquisition - More
- January 15, 2008 | Item | E-mail

Golden Dawn's VMS Property near Stewart, B.C., returns encouraging gold, silver, copper, lead and zinc values - More
- January 15, 2008 | Item | E-mail

Cue Resources Ltd. Reports Continued Positive Results From Drilling at the Yuty Uranium Project, Paraguay; Resource Estimate and Metallurgical Testing Underway - More
- January 15, 2008 | Item | E-mail

Uranium One gets build approval for Australia mine - More
- January 15, 2008 | Item | E-mail

Anaconda Mining Inc.: Q2-2008 - More
- January 15, 2008 | Item | E-mail

Arianne Starts Drilling on the Opinaca Property, James Bay. - More
- January 15, 2008 | Item | E-mail

Strateco and Pacific Bay Complete Final Agreement on Otish Uranium Claims - More
- January 15, 2008 | Item | E-mail

Semafo discovers two new gold zones at Samira Hill, Niger - More
- January 15, 2008 | Item | E-mail

Farallon Announces Closing of Public Offering and Completion of Private Placement for Proceeds of $27.21 Million - More
- January 15, 2008 | Item | E-mail

Golden Band Resources: Development Update - More
- January 15, 2008 | Item | E-mail

Olympus Doubles Resource to 637,000 Oz at the High Grade Phuoc Son Gold Property - More
- January 15, 2008 | Item | E-mail

Full Metal Identifies Significant Geochemical and Geophysical Anomalies at OG Zn-Pb-Ag Property - More
- January 15, 2008 | Item | E-mail

Nilam Resources Inc. Announces Agreement for 100% Acquisition of Major Gold Producing Mine in Peru - More
- January 15, 2008 | Item | E-mail

J-Pacific Gold Inc. - Resignation of Directors - More
- January 15, 2008 | Item | E-mail

Anglo Swiss Resources Inc. to Carry Out Phase Two-10,000-Meter Diamond Drill Program on the Kenville Gold Mine Property, Nelson, B.C. - More
- January 15, 2008 | Item | E-mail

Constitution Mining Appoints New President, CEO and Director - More
- January 15, 2008 | Item | E-mail

Fortune Minerals Announces Slurry Pipeline Transport Study Results for Mount Klappan Coal Project - More
- January 15, 2008 | Item | E-mail

Sage Gold Inc.: Gold Hill Channel Samples-31.7 g/T Gold, Grab 54.8g/T Gold - More
- January 15, 2008 | Item | E-mail

Manicouagan Reports Results From Brabant Lake Drilling: Assays Up to 10.90% Zinc Over 5.34 Metres and 62.52 Grams Per Tonne Silver Over 2.07 Metres - More
- January 15, 2008 | Item | E-mail

MAX provides exploration update and plans for 2008 - More
- January 15, 2008 | Item | E-mail

Dutch Gold Resources Releases Letter to Stockholders - More
- January 15, 2008 | Item | E-mail

StrataGold Announces a NI 43-101 Mineral Resource Estimate for the Mar-Tungsten Deposit, Dublin Gulch, Yukon Territory, Canada - More
- January 15, 2008 | Item | E-mail

Miranda Gold Corp. Intersects 85 ft of 0.046 oz Au/t at Red Canyon Project - More
- January 15, 2008 | Item | E-mail

Skygold Ventures Ltd.: Step Out Drilling Significantly Expands Spanish Mountain Gold Zone - More
- January 15, 2008 | Item | E-mail

Liberty intersects 2.05% Ni over 11.45m at the Hart Project - More
- January 15, 2008 | Item | E-mail

Scandinavian Minerals Reports First Quarter Results - More
- January 15, 2008 | Item | E-mail

Frontera Copper Updates 2007 Production Guidance, Reports an Increase in Ore Reserves and the Appointment of a New Director - More
- January 15, 2008 | Item | E-mail

Timberline Announces Financial Results and Recaps Accomplishments for 2007, Provides Forecast for 2008 - More
- January 15, 2008 | Item | E-mail

Duluth Metals acquires Platsol(TM) technology license for Nokomis Project - More
- January 15, 2008 | Item | E-mail

New Discovery of Multiple Gold Zones Near Rice Lake Mine - More
- January 15, 2008 | Item | E-mail

AMEX Exploration Inc. announces the amendment of its stock option plan - More
- January 15, 2008 | Item | E-mail

Raytec Acquires Additional Large Tonnage Iron Ore Property - More
- January 15, 2008 | Item | E-mail

Uruguay Mineral Exploration Inc: Reschedule of Record Date for Interim Dividend - More
- January 15, 2008 | Item | E-mail

CGA Mining - Announcement to the Australian Securities Exchange and Toronto Stock Exchange - More
- January 15, 2008 | Item | E-mail

Aldershot Resources Ltd.: More Uranium Intersections at the George Project - More
- January 15, 2008 | Item | E-mail

UEX/AREVA Launch Largest Drill Program to Date at Shea Creek with Four Drills - More
- January 15, 2008 | Item | E-mail

Crosshair Begins Winter Drill Campaign on CMB Uranium Project, Labrador - More
- January 15, 2008 | Item | E-mail

Forum Mobilizes Three Drills for 13,000 Metres Drilling on Three Athabasca Basin Uranium Projects, Saskatchewan - More
- January 15, 2008 | Item | E-mail

MAX provides exploration update and plans for 2008 - More
- January 15, 2008 | Item | E-mail

Pitchstone Exploration Ltd.: Athabasca Drilling Resumes at 97G Zone on Candle Property - More
- January 15, 2008 | Item | E-mail

Claude Resources Releases Q4 2007 Production Results - "Seabee Mine Production Exceeds Five Year Quarterly Average" - "The increased production during the second half of 2007 is largely a result of the capital investment at our operations and in particular at Santoy 7", stated Claude Resources Vice President Mining Operations, Philip Ng. "That was evidenced by the fact that 61% of the 44,322 ounces of gold produced during 2007 occurred during Quarters 3 and 4". More
- January 15, 2008 | Item | E-mail

Endeavour Achieves Record Silver Production In The Fourth Quarter 2007 - "Endeavour Silver Corp. (EDR: TSX, EXK: AMEX, and EJD: Frankfurt) announces that silver production from its two operating silver mines in Mexico, Guanacevi and Bolanitos, hit a new all-time high of 636,866 oz in the 4th quarter, 2007. Silver production was up 10% over the 3rd quarter and jumped 72% compared to the 369,295 oz produced in Q4, 2006." More
- January 15, 2008 | Item | E-mail

Cardero Initiates Scoping Study and Resource Definition Program at Its Pampa de Pongo Iron Deposit, Peru - "The scoping study will be produced by the internationally respected consulting firm SRK Consulting Engineers and Scientists (SRK) and is designed to determine the optimum mining method and estimated production costs. In tandem with the scoping study, Cardero is implementing a 30,000 metre definition drilling program, anticipated to commence in February, which is designed to deliver a National Instrument 43-101 compliant combined Indicated and Measured Resource in the third quarter of calendar 2008." More
- January 15, 2008 | Item | E-mail

Exeter Discovers Bonanza Gold-Silver Grades on Cerro Moro Extension - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") reports that diamond drilling at its Cerro Moro project in Santa Cruz Province, Argentina, has intersected bonanza gold and silver grades indicating an extension to the mineralized vein zone. The new drill holes, which are centred 500 metres (1,640 feet) northwest, and on strike of the previously defined Escondida zone, potentially extend the total mineralized zone to 1,500 metres (4,920 feet)." More
- January 15, 2008 | Item | E-mail

Minco Gold Appoints New Director and New Corporate Secretary - "Minco Gold Corporation (the "Company" or "Minco Gold") (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News) is pleased to announce the appointment of Mr. Malcolm F. Clay to the Board of Directors and Chair of the Audit Committee, subject to regulatory approval. Mr. Clay is a Chartered Accountant (FCA) and was a partner of KPMG and its predecessor firms for 27 years, retiring in 2002." More
- January 15, 2008 | Item | E-mail

Coeur Adds Key Management Depth in Mexico, Bolivia and Alaska - "Coeur d’Alene Mines Corporation (NYSE:CDE - News) (TSX:CDM - News) (ASX:CXC - News) today announced the promotions of key personnel at its San Bartolomé (Bolivia), Palmarejo (Mexico), and Kensington (Alaska) projects, to guide each project from construction into production phase. Promotions were also announced in the corporate Treasury and Human Resources divisions to prepare for the Company’s growth." More
- January 15, 2008 | Item | E-mail

Banro increases Measured & Indicated Mineral Resources by 23% at Twangiza to 3.9 million ounces - "Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce the following updated Mineral Resource estimates at its wholly-owned Twangiza project in the Democratic Republic of the Congo (the "DRC")." More
- January 15, 2008 | Item | E-mail

Orko Silver Expands the Martha Vein to the Southeast at La Preciosa - "Hole BP07-146 hit a true width of 15.15 metres grading gold 0.321 g/t, silver 141.7 g/t for a silver-equivalent of 160.9 g/t. It includes a higher grade core of 8.20 metres grading gold 0.519 g/t, silver 213.3 g/t for a silver-equivalent of 244.5 g/t. This hole expands the area previously reported with hole BP07-135, which yielded 16.55 metres of gold 0.363 g/t and silver 355.9 g/t for a silver equivalent of 377.7 g/t (see news release dated November 19th, 2007)." More
- January 15, 2008 | Item | E-mail

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