Gold Seeker Closing Report: Gold and Silver Fall Over 1% and 2%

	Close	Gain/Loss
Gold	$869.60	-$10.80
Silver	$16.465	-$0.375
XAU	173.27	-2.43%
HUI	397.08	-2.34%
GDM	1187.31	-2.27%
JSE Gold	2290.63	-8.81
USD	83.85	+0.59
Euro	154.25	-1.10
Yen	92.61	-1.07
Oil	$136.74	+$0.36
10-Year	4.205%	+0.132
T-Bond	112.9375	-1.1875
Dow	12141.58	+0.48%
Nasdaq	2404.35	+0.43%
S&P	1339.87	+0.33%

Gold and silver fell throughout most of trade in Asia and London and dropped to as low as $857.05 and $16.22 by a little before 9AM EST in New York, but both metals then rallied back higher into the close and ended well of those lows with losses of just 1.23% and 2.23%.

Euro gold fell to about €564, platinum lost $22 to $2015.50, and copper fell over 4 cents to about $3.53.

Gold and silver equities fell about 3% by late morning before they rebounded to see only about 1.5% losses by mid-afternoon, but they then fell back off in the last couple of hours of trade and ended with over 2% losses after the major indices erased much of their early gains.

Report	For	Reading	Expected	Previous
Initial Claims	6/07	384K	370K	359K
Retail Sales	May	1.0%	0.5%	0.4%
Retail Sales ex-auto	May	1.2%	0.7%	1.0%
Import Prices	May	2.3%	-	2.4%
Import Prices ex-oil	May	0.5%	-	1.3%
Export Prices	May	0.3%	-	0.5%
Export Prices ex-ag.	May	0.4%	-	0.7%
Business Inventories	Apr	0.5%	0.3%	0.2%

Tomorrow at 8:30AM EST brings CPI for May expected at 0.5% and Core CPI expected at 0.2%. At 10AM is Michigan Sentiment for June expected at 59.5.

Oil fell almost $5 at one point on dollar strength, but it then rallied back to find a slight gain by the close on talks over a strike in Nigeria and some refinery outages in the US that pushed the price of RBOB gasoline back above $3.50 a gallon.

The U.S. dollar index rose and treasuries fell as better than expected Retail Sales data raised the outlook for an interest rate hike by the fed sooner than previously thought.

The Dow, Nasdaq, and S&P rose over 1% in morning trade on economic optimism over the better than expected Retail Sales report, but the late rebound in oil prices took the indices well off their highs and they ended with only modest gains.

Among the big names making news in the market today were Yahoo and Microsoft, Thornburg Mortgage, InBev and Anheuser-Busch, Lehman Brothers, KeyCorp, Citigroup, and Delta.

It is so hard to deal with this every day. You should really understand it is all financial propaganda.

Today's economic propaganda is twofold. The G8 meeting coming up has been sterile on its ability to impact the trend of the dollar and will remain so no matter what Financial TV says. Nothing can stop the enormous wave of inflation coming at us like a runaway locomotive because of the expansion of international liquidity. Not words, oral interventions or G8s can stop that.

The truth of the G8 meeting and the key element today is that there is another major international investment firm having a run on it, similar to Bear Stearns. The Fed will broker another takeover, something that will cost an amazing amount of money and once again hit the US dollar hard on the downside when the verbal smoke is seen as it is - nothing.

There was more truth in Pravda under Stalin than there is on Financial TV today.”- Jim Sinclair, JSMineset.com

“August Gold finished down 10.9 at 872, 1 off the high and 12 up from the low.

July Silver closed down 0.37 at 16.485. This was 0.235 up from the low and 0.115 off the high.

The gold market continued to remain out of favor for most of the trading session Thursday and with the US Dollar managing the highest trade since February 28th it is likely that currency related selling was the dominate feature of the trade. However, the oil market at times was under aggressive liquidation pressure at the same time that US equity prices were higher and that in the past has served to push a number of gold longs to the sidelines. While seeing a stronger than expected US retail sales report logically supported the Dollar, seeing the US economy hold together could eventually foment and accelerate inflation. However, in the near term the gold market doesn't seem to be that interested in the longer term fundamentals and instead the trade is intently focused on a few outside markets.

The silver market saw initial pressure in the wake of the wave up move in the Greenback and the market was able to forge a bounce into mid session, but in the end the bear camp was generally able to retain control over prices. However, a number of traders continue to point to the 74.40 level in the September Dollar Index as an extremely critical pivot point for the precious metals markets.”- The Hightower Report, Futures Analysis and Forecasting

Almaden’s (AAU) sold property, IAMGOLD’s (IAG) internal scoping study, Kinross Gold’s (KGC) closing bell ringing, Endeavour’s (EXK) drill results, and Silver Dragon’s (SDRG.OB) tax payment 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.

Mexivada stakes new gold-tellurium property in Mexico - More
- June 12, 2008 | Item | E-mail

World Ventures Inc. - Private Placement Financing - More
- June 12, 2008 | Item | E-mail

New Guinea Gold Announces Inferred Mineral Resource at 100% Owned Imwauna Project - More
- June 12, 2008 | Item | E-mail

Winter Drill Results from the Delta Zone Nithi Mountain Moly Project - More
- June 12, 2008 | Item | E-mail

Iberian Strengthens Management Team - More
- June 12, 2008 | Item | E-mail

Nunavik Nickel Project Update: Canadian Royalties Receives its Mine Lease for the Expo Site - More
- June 12, 2008 | Item | E-mail

Creston Moly Corp.: Infill Drill Program Completed at El Creston Deposit, Mexico - More
- June 12, 2008 | Item | E-mail

Nuinsco Increases Gold Resource at Cameron Lake Project - More
- June 12, 2008 | Item | E-mail

Richmond Minerals Inc. - Exploration Update - More
- June 12, 2008 | Item | E-mail

Duran Ventures Increases Management Depth and Grants Options - More
- June 12, 2008 | Item | E-mail

Almaden Sells Prospector MTN., Retains NSR - "Almaden Minerals Ltd. (Toronto:AMM.TO - News)(AMEX:AAU - News) ("Almaden") is pleased to announce that it has signed a letter agreement with Tarsis Capital Corp. (CDNX:TCC.V - News) ("Tarsis") whereby Tarsis can acquire a 100% interest in the Prospector Mountain gold-silver-copper property, located in central Yukon subject to a net smelter return payable to Almaden." More
- June 12, 2008 | Item | E-mail

UME Completes Additional Purchase of Its Own Shares - More
- June 12, 2008 | Item | E-mail

Yorbeau Holds Annual General Meeting - More
- June 12, 2008 | Item | E-mail

Asian Mineral Resources: Comments on Increase in Tariff on Nickel Exports - More
- June 12, 2008 | Item | E-mail

Puma Exploration: Mineralization Between Shaft and Hache Lenses Continuous at Depth - More
- June 12, 2008 | Item | E-mail

IAMGOLD Announces Preliminary Westwood Production Could Begin in 2010 - "IAMGOLD Corporation ("IAMGOLD" or "the Company")(Toronto:IMG.TO - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) is pleased to announce the positive results of an internal scoping study on a near surface portion of the Westwood resource (the "Warrenmac" deposit). This deposit could be accessed during the exploration shaft development at Westwood and begin production in the second half of 2010. Westwood is an advanced exploration project located adjacent to the Company's Doyon mine in the Abitibi region of Quebec." More
- June 12, 2008 | Item | E-mail

Duluth Metals General Annual Meeting to be held at the Toronto Board of Trade - More
- June 12, 2008 | Item | E-mail

First Gold Arranges Non-Brokered Private Placements and Announces its First Closing - More
- June 12, 2008 | Item | E-mail

Paragon Appoints New Vice-President Exploration and Chief Financial Officer - More
- June 12, 2008 | Item | E-mail

Silver Shield Expands Mexican Holdings, Acquires Additional Property at La Cumbre Gold and Silver Property - More
- June 12, 2008 | Item | E-mail

Results from Airborne Magnetic and E.M. Surveys Flag Resources (1985) Limited's Mackelcan and Rathbun Township Properties, Sudbury, Ontario - More
- June 12, 2008 | Item | E-mail

Mill City Gold Corp. - Amendment to stock option plan and grant of incentive stock options - More
- June 12, 2008 | Item | E-mail

Endeavour Silver Drilling Intersects Thicker, Deeper Extension of Santa Cruz Silver Zone at Guanacevi; Infill Drilling Defines Poly-Metallic Mineralization - "At the Company's operating Guanacevi silver mine in Durango, drilling below the current resource has intersected a thick, poly-metallic extension of the Santa Cruz vein below the historic Santa Cruz mine. At Endeavour's Parral exploration program in Chihuahua, infill drilling has better defined the poly-metallic mineralization discovered last year in the El Cometa vein system on the El Cometa property." More
- June 12, 2008 | Item | E-mail

Eastmain Resources Inc. -- Eau Claire Gold Deposit: 100 Drill Intersections Average 28.03 g/t Gold - More
- June 12, 2008 | Item | E-mail

Shareholders of Scandinavian Minerals Approve Plan of Arrangement with First Quantum Minerals Ltd. - More
- June 12, 2008 | Item | E-mail

Tamerlane Intersects 35.3% Combined Lead-Zinc Over 110 Feet (36 Meters) - More
- June 12, 2008 | Item | E-mail

Galantas Outlines Resources Review for Omagh Gold Mine, Northern Ireland - More
- June 12, 2008 | Item | E-mail

Skybridge Presents Corporate Update - More
- June 12, 2008 | Item | E-mail

Everton Acquires New Polymetallic Concession in Dominican Republic-Everton Announces New Director - More
- June 12, 2008 | Item | E-mail

Premier completes sale of Pickle Crow Project - More
- June 12, 2008 | Item | E-mail

PolyMet Updates EIS Progress - More
- June 12, 2008 | Item | E-mail

Mill City adds senior geological consultant - More
- June 12, 2008 | Item | E-mail

Richfield completes preliminary drilling at Quesnel Trough G-South target - More
- June 12, 2008 | Item | E-mail

Capital Gold Corporation Announces an Increase of 29% in Net Income Compared to Previous Quarter - More
- June 12, 2008 | Item | E-mail

Golden Harp Resources grants stock options - More
- June 12, 2008 | Item | E-mail

Tanqueray Resources Ltd. - News Release - More
- June 12, 2008 | Item | E-mail

Katanga Mining Limited: Interest Payment on Katanga Notes - More
- June 12, 2008 | Item | E-mail

Los Andes Copper Intersects 138 Metres Grading 0.71% Cu Equivalent Within 653.2 Metres Grading 0.43% Cu Equivalent - More
- June 12, 2008 | Item | E-mail

Quest Uranium Signs Exploration Agreement With Nebu Resources on Its George River Properties, Northeastern Quebec - More
- June 12, 2008 | Item | E-mail

International Beryllium Acquires 100% of the Boomer Mine in Colorado - More
- June 12, 2008 | Item | E-mail

Romios Gold Names Brian E. Robertson to Its Board of Directors - More
- June 12, 2008 | Item | E-mail

Nebu Resources Inc. Announces Joint Venture Option Agreement With Quest Uranium Corporation - More
- June 12, 2008 | Item | E-mail

Ventura Reports Significant Drill Results From Inmaculada Project, Including Intercept of 7.2m at 16.7 gpt Gold & 294 gpt Silver - More
- June 12, 2008 | Item | E-mail

Pinnacle completes acquisition of gold assets - More
- June 12, 2008 | Item | E-mail

General Metals Extends High Grade Oxide to Surface; Mineralization Remains Open at Depth Beyond 165 Vertical Feet - More
- June 12, 2008 | Item | E-mail

Adex Grants Options to Directors, Officers and Certain Employees and Consultants - More
- June 12, 2008 | Item | E-mail

International Nickel Ventures: Update on INV's "Ring of Fire" Properties - More
- June 12, 2008 | Item | E-mail

HuntMountain Appoints Vice President of Corporate Development - More
- June 12, 2008 | Item | E-mail

VMS Ventures Proposes to Spin Off Nickel Assets - More
- June 12, 2008 | Item | E-mail

Sherwood Reports Results of Preliminary Economic Assessment for Kutcho Copper Project - More
- June 12, 2008 | Item | E-mail

Crosshair Announces Plans for Summer Program - More
- June 12, 2008 | Item | E-mail

Mega Completes Drill Program at Mustang Lake Uranium Project, Labrador - More
- June 12, 2008 | Item | E-mail

Cameco: Selloff Presents Buying Opportunity - More
- June 12, 2008 | Item | E-mail

USEC Inc.: Uranium Play With A Bright Future Ahead - More
- June 12, 2008 | Item | E-mail

Media Advisory: Kinross Gold to Ring the Closing Bell(R) at NYSE - "Tye Burt, President & CEO of Kinross Gold Corporation (Toronto:K.TO - News)(NYSE:KGC - News), will ring The Closing Bell® at the New York Stock Exchange (NYSE) today in recognition of the company's designation as the top-performing senior gold equity in 2007." More
- June 12, 2008 | Item | E-mail

Silver Dragon Announces Payment of State Compensation Tax for Erbahuo Mining License Transfer - "Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) announced today that the Company has duly paid the state compensation tax (royalty) for the privatization of the Erbahuo silver mine pursuant to applicable Chinese laws. The payment of RMB 4,468,600 (approx. US$650,000) was made to the local provincial department of China's Ministry of Land and Resources, the agency responsible for regulating and overseeing China's mining industry." More
- June 12, 2008 | Item | E-mail

Congo to start mines renegotiations in mid-July - "Democratic Republic of Congo will begin renegotiating some 60 mining contracts in mid-July as part of a long-delayed review process, the central African nation's deputy mines minister said on Thursday." More
- June 12, 2008 | Item | E-mail

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