Gold Seeker Closing Report: Gold and Silver End Mixed and Near Unchanged

	Close	Gain/Loss
Gold	$913.95	+$1.90
Silver	$17.38	-$0.41
XAU	186.36	-1.14%
HUI	448.18	-1.75%
GDM	1341.58	-1.75%
JSE Gold	2524.22	-17.99
USD	71.63	-0.35
Euro	159.23	+1.15
Yen	96.91	+0.51
Oil	$116.95	+$0.26
10-Year	3.712%	-0.031
T-Bond	117.078125	+0.640625
Dow	12825.02	-0.19%
Nasdaq	2408.04	+0.21%
S&P	1388.17	-0.16%

Gold rose to $928.60 in London before it fell back off in New York to as low as $910.80 by about noon EST, but it then rallied back higher into the close and ended with a gain of 0.21%. Silver rose to $17.95 and fell to $17.255 before it also rallied back higher into the close, but it still ended with a loss of 2.3%.

Euro gold fell to about €575, platinum lost $35 to $2006, and copper fell a couple of cents to about $3.90.

Gold and silver equities fell about 2% by late morning and remained near their lows into the close.

There were no major economic reports today, and there are none due out tomorrow.

Oil rose to a new record high over $117 and gasoline topped $3.50 as sabotage attacks in Nigeria forced Shell to declare force majeure and cut world oil supply.

The U.S. dollar index fell and treasuries rose while the Dow, Nasdaq, and S&P dropped on earnings reports that came in short of expectations and increased recession worries, but that Nasdaq was able to turn slightly higher by the close on optimism over upcoming earnings reports.

Among the big names making news in the market today were Bank of America, Carlyle, Deutsche Bank, Lilly, Mattel, and National City.

“The sole reason I am entering into the USD$1,000,000 wager agreement that gold will trade at $1650 on or before the close of the COMEX open outcry session at the end of the 2nd week of January 2011 is to demonstrate to you how much confidence I have in my predictions. There is no PR attached to this, nor will I speak with anyone who publishes or broadcasts on this subject.

It appears an agreement will be concluded shortly between myself and a Canadian hedge fund as counsel for both parties. When the details are finalized and legally binding, I will announce the name of the other party here on JSMineset.

Gold’s volatility is only beginning. Regardless, the price of gold is going to a minimum of $1650.

If you are leveraged there is the possibility that your life may pass in front of your eyes at any time. Those invested on a cash basis have no problems.” - Jim Sinclair, More free commentary at JSMineset.com

“June Gold finished up 2.4 at 917.6, 13.8 off the high and 2.9 up from the low.

May Silver closed down 0.46 at 17.36. This was 0.06 up from the low and 0.545 off the high.

The gold market appeared to fight selling pressure throughout the trading session but generally seemed to be able to hold above the prior session's closing value. Apparently the Dollar wasn't weak enough and oil prices were off balance and that took some of the early bullishness out of play. It is possible that a slight tempering of the US macro economic outlook in the wake of scheduled US numbers and renewed financial sector concerns prompted some of the broad based physical commodity selling action, which in turn weighed on gold prices. In fact, weakness in the rest of the metals complex and the mid day slide in energy prices seemed to be directly tied to gold's retrenchment from its highs.

The silver market performed marginally weaker than the gold market on Monday and with the copper and platinum markets also weaker it was clear that the metals markets were being impacted by varying elements. With the US economic outlook deteriorating slightly in the wake of scheduled US data and the sub-prime situation serving to undermine the US equity market early in the trading session it wasn't surprising to see a host of physical commodity markets like silver under renewed pressure.”- The Hightower Report, Futures Analysis and Forecasting

Eldorado’s (EGO) bid for Frontier (FRP.V), Claude’s (CGR) indicated resources, IAMGOLD’s (IAG) and Aurelian’s (ARU.TO) comments on political developments in Ecuador, Midway’s (MDW) test results, Northern Dynasty’s (NAK) project update, Taseko’s (TGB) refining agreement, SNS Silver’s (SNS.V) additional drilling, and Silver Dragon’s (SDRG.OB) senior management changes 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.

Shoreham Resources Announces $1,100,000 Private Placement - More
- April 21, 2008 | Item | E-mail

First Quantum sues HSBC Bank Canada over ABCP - "Mining company First Quantum Minerals Ltd (FM.TO: Quote, Profile, Research) is suing HSBC Bank Canada for negligence and breach of contract, claiming that the bank recommended investing in asset-backed commercial paper shortly before this market seized up last summer." More
- April 21, 2008 | Item | E-mail

Shoreham Resources Announces $1,100,000 Private Placement - More
- April 21, 2008 | Item | E-mail

Iamgold says Ecuador halt may delay mine study - "The feasibility study for Iamgold Corp's (IMG.TO: Quote, Profile, Research) Quimsacocha gold deposit in Ecuador may be delayed after the government froze all mining exploration for up to six months, the Canadian company said on Monday.

"If they do halt for six full months, it may have an impact on our ability to complete the feasibility," Iamgold spokeswoman Lisa Doddridge told Reuters." More
- April 21, 2008 | Item | E-mail

Gold World Resources Inc. Granted Initial Approval of Incorporation of Joint Venture Company - More
- April 21, 2008 | Item | E-mail

Inspiration Announces Allen Mann as Director of Operations - More
- April 21, 2008 | Item | E-mail

Frontier rejects Eldorado Gold's $148 million bid - "Canada's Frontier Pacific Mining Corp (FRP.V: Quote, Profile, Research) rejected as inadequate on Monday a C$148.2-million takeover offer made by Eldorado Gold Corp (ELD.TO: Quote, Profile, Research), and said it would seek a better offer.

The all-share bid, made late Friday, offers 0.122 of an Eldorado common share for each Frontier share. That values each Frontier Pacific share at C$0.90, which is a 28.6 percent premium on the stock's closing price on Friday." More
- April 21, 2008 | Item | E-mail

Buffalo Gold Extends Contract for Furtei Mine Concentrates - More
- April 21, 2008 | Item | E-mail

Claude Resources Reports Indicated Resource of 727,500 Tonnes at 8.98 g/t at Santoy 8 - "Claude Resources Inc. (CRJ:TSX ; CGR:AMEX) is pleased to announce the results of a NI 43-101 compliant inferred and indicated mineral resource estimate on the Santoy 8 deposit located on the Seabee mine property." More
- April 21, 2008 | Item | E-mail

MAX increases land position at C de Baca Uranium project in New Mexico; Drill permit received - More
- April 21, 2008 | Item | E-mail

Pinnacle buys gold assets from Tenajon - Acquires balance of Kansas & past producer Summit Lake - More
- April 21, 2008 | Item | E-mail

St Andrew Goldfields Reduces Stake in Glass Earth to 30.5% - More
- April 21, 2008 | Item | E-mail

Ecuador mining law to boost state control in deals - "Ecuador wants more royalties and tougher environmental controls over mining firms exploring in the Andean country as part of a new mining law, Mines and Oil Minister Galo Chiriboga said on Monday." More
- April 21, 2008 | Item | E-mail

Farallon Announces Signing of Agreement to Increase Bridge Facility to US$30 Million - More
- April 21, 2008 | Item | E-mail

Anglo Swiss Resources Inc. Extends Warrants - More
- April 21, 2008 | Item | E-mail

Chester Millar Joins Pediment's Board of Directors - More
- April 21, 2008 | Item | E-mail

Implats in talks to secure electricity at Leeuwkop - "South Africa's Impala Platinum (IMPJ.J: Quote, Profile, Research) said on Monday it was in negotiations with state-owned electricity company Eskom about getting long-term power for its Leeuwkop project.

Implats, the world's second-biggest platinum producer, said it had secured electricity from Eskom for the construction phase of the project, and resolving long-term electricity supply would pave the way for building to start." More
- April 21, 2008 | Item | E-mail

Canadian Arrow Retains AGORACOM to Provide Investor Relations, Social Network and Google Search Engine Program - More
- April 21, 2008 | Item | E-mail

EXMIN/AmMex Commence Drilling at Cerro Gordo Project, Zacatecas, Mexico - More
- April 21, 2008 | Item | E-mail

AXMIN Inc.: Initial Drilling Results at Topa Iron Belt, Central African Republic High Grade Iron Assays Averaging 63.1% Fe - More
- April 21, 2008 | Item | E-mail

Gold Bullion Development Corp.: News Release - More
- April 21, 2008 | Item | E-mail

Rolling Rock Resource's Domain Project in Northern Manitoba Returns Drill Results of 4.61 gpt Gold Over 15.25 Metres Including 7.29 gpt Gold Over 9.0 Metres - More
- April 21, 2008 | Item | E-mail

Redcorp Ventures Ltd.: $64,000,000 Credit Facility - More
- April 21, 2008 | Item | E-mail

Cash Minerals Releases Additional Assay Results From Igor Uranium Property, Yukon Territory and Extends Mineralized Zone to the North - More
- April 21, 2008 | Item | E-mail

Amerigo Announces Q1 2008 Production Results - More
- April 21, 2008 | Item | E-mail

Mexivada discovers porphyry molybdenum, silver-tellurium, and gold systems at Moly Dome, Nevada; begins tellurium exploration program - More
- April 21, 2008 | Item | E-mail

USCorp Receives Drill Permit for Arizona Twin Peaks Gold Property - More
- April 21, 2008 | Item | E-mail

San Gold Discovers Fourth New High Grade Hinge Vein - More
- April 21, 2008 | Item | E-mail

Joint Venture finalised with Ariana Resources - More
- April 21, 2008 | Item | E-mail

Bellhaven Copper & Gold Discovers New Mineralized Zone at the Cerro Quema Gold Project - More
- April 21, 2008 | Item | E-mail

Ontex Resources Commences Drill Program on 694,700 Oz Gold Brookbank Property - More
- April 21, 2008 | Item | E-mail

AngloGold says held informal talks on uranium - More
- April 21, 2008 | Item | E-mail

Corriente Resources Inc.: Ecuador Constitutional Assembly-Mining Mandate Update - More
- April 21, 2008 | Item | E-mail

Crowflight Discovers New Zone of Mineralization at M11A North; Intersects 26.7 Metres Grading 1.30% Nickel - More
- April 21, 2008 | Item | E-mail

Aurelio Strengthens Board of Directors - More
- April 21, 2008 | Item | E-mail

Gold Canyon Reports Progress on Favourable Lake Polymetallic Project - More
- April 21, 2008 | Item | E-mail

Aurelio Announces the Resignation of Stephen R. Stine as Director and Chief Operating Officer - More
- April 21, 2008 | Item | E-mail

Lateegra Announces Phosphate Acquisition - More
- April 21, 2008 | Item | E-mail

First Uranium to meet future production growth plans at its South African operations by installing power plants and a sulphuric acid plant - More
- April 21, 2008 | Item | E-mail

Production Suspended as a Result of Union Blockade - More
- April 21, 2008 | Item | E-mail

First Uranium to build acid plant to secure future supply of sulphuric acid for its uranium plants at reduced costs - More
- April 21, 2008 | Item | E-mail

Forsys Clarifies Uranium Project on Track - More
- April 21, 2008 | Item | E-mail

USEC Inc. Statement on the U.S. Supreme Court Decision to Grant Petitions for Certiorari - More
- April 21, 2008 | Item | E-mail

Cash Minerals Releases Additional Assay Results From Igor Uranium Property, Yukon Territory and Extends Mineralized Zone to the North - More
- April 21, 2008 | Item | E-mail

Mega Uranium Ltd.: Additional Assay Results From Igor Uranium Property, Yukon Territory; Extend Mineralized Zone to the North - More
- April 21, 2008 | Item | E-mail

SNS Reports Continued Drilling and Drift Advance - "SNS has confirmed that Kettle Drilling is expected to supply two additional core drills at the beginning of June 2008. Initially the drills will be located on surface and used for the definition drilling necessary to complete a National Instrument ("NI") 43-101 resource estimate by the end of calendar 2008. SNS plans to drill 20,000 to 30,000 feet from the surface this season, primarily for resource definition, but with more than 80% of the property potential remaining to be explored, new areas for drilling are also being contemplated." More
- April 21, 2008 | Item | E-mail

Silver Dragon Resources Inc. Announces Senior Management Changes - "Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) announced today that Marc Hazout, founder and director, has stepped down as President and CEO effective immediately. The board of Silver Dragon has appointed Colin Sutherland, currently CFO, as interim CEO. The Company has begun a comprehensive search process for a new CEO to lead Silver Dragon." More
- April 21, 2008 | Item | E-mail

Aurelian Comments on Recent Political Developments in Ecuador Affecting the Condor Project and Fruta del Norte (FDN) Resource Development - "Aurelian is seeking further clarification from government officials on how the new Mining Mandate will be implemented and will provide additional commentary as more detail becomes available. An unofficial English translation of the new Mining Mandate prepared internally by the Company is available on Aurelian's website at www.aurelian.ca. Aurelian's management remains committed to working to create value for shareholders as it continues to monitor the situation in Ecuador and assess any changes that may be made to existing mining laws." More
- April 21, 2008 | Item | E-mail

Midway Gold Corp.: Test Results at Midway Project, Nevada Indicates 94% Gold Recovery - "Midway Gold Corp. (CDNX:MDW.V - News)(AMEX:MDW - News) (the "Company") is pleased to announce that metallurgical test work completed on samples from the Midway project yielded 94% gold recovery. The test used a simple gravity separation circuit followed by cyanide leaching of the tails, to achieve these high recoveries." More
- April 21, 2008 | Item | E-mail

Northern Dynasty Minerals Ltd.: Pebble Project Update - "Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (Toronto:NDM.TO - News)(AMEX:NAK - News) reports on progress made toward 2008 technical and corporate objectives to advance the Pebble copper-gold-molybdenum project, located in southwestern Alaska, USA." More
- April 21, 2008 | Item | E-mail

Taseko Signs Six-Year, Fixed-Rate Treatment and Refining Agreement - "Taseko Mines Limited (Toronto:TKO.TO - News)(AMEX:TGB - News) is pleased to announce that it has entered into a six-year agreement with MRI Trading AG, a Swiss-based metal trading house, for the treatment and refining of Gibraltar copper concentrate. Under the terms of the agreement, Taseko has secured long-term, fixed, low cost rates for processing six years of Gibraltar mine production, or approximately 1.1 million tons of copper concentrate production, into copper metal." More
- April 21, 2008 | Item | E-mail

Eldorado Announces Offer for Frontier Pacific Mining Corporation - "Eldorado Gold Corporation (Toronto:ELD.TO - News)(AMEX:EGO - News) announced today that it intends to make an offer to acquire all of the outstanding shares of Frontier Pacific Mining Corporation (CDNX:FRP.V - News). Frontier Pacific owns the Perama Hill gold project in Northeastern Greece. " More
- April 21, 2008 | Item | E-mail

First Quantum to Acquire Scandinavian Minerals - "First Quantum Minerals Ltd. ("First Quantum") (Toronto:FM.TO - News)(LSE:FQM.L - News) and Scandinavian Minerals Limited ("Scandinavian Minerals") (Toronto:SGL.TO - News)(Frankfurt:W3M.F - News) today announced that they have entered into a definitive agreement pursuant to which a wholly-owned subsidiary of First Quantum will acquire, by way of a court-approved plan of arrangement, all of the outstanding common shares of Scandinavian Minerals on the basis of Cdn.$9.00 in cash plus 0.01 common shares of First Quantum for each common share of Scandinavian Minerals." More
- April 21, 2008 | Item | E-mail

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