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

	Close	Gain/Loss
Gold	$884.65	+$1.15
Silver	$17.05	-$0.13
XAU	178.75	+0.16%
HUI	409.64	+1.21%
GDM	1217.39	+0.90%
JSE Gold	2229.90	+3.49
USD	73.51	-0.11
Euro	155.14	+0.36
Yen	92.61	+0.16
Oil	$134.01	-$0.60
10-Year	4.225%	-0.020
T-Bond	112.8125	+0.015625
Dow	12160.30	-0.89%
Nasdaq	2457.73	-0.69%
S&P	1350.93	-0.68%

Gold rose $5 to $888.50 by late trade in Asia before it fell over 1% to $874.20 by about 9AM EST in New York, but it then rallied back higher into the close and ended with a gain of 0.13%. Silver rose over 1% to $17.40 by late trade in Asia before it saw a roughly 2% loss at $16.83 by about 9AM EST in New York, but it then rallied back higher into the close and ended lower by just 0.76%.

Euro gold remained at about €570, platinum gained $14 to $2057.50, and copper fell a couple of cents to about $3.66.

Gold and silver equities rose over 1% by midmorning before they fell back off a bit as the major indices dropped, but the miners still ended with about 1% gains.

Report	For	Reading	Expected	Previous
PPI	May	1.4%	1.0%	0.2%
Core PPI	May	0.2%	0.2%	0.4%
Housing Starts	May	975K	980K	1008K
Building Permits	May	969K	960K	982K
Capacity Utilization	May	79.4%	79.7%	79.6%
Industrial Production	May	-0.2%	0.1%	-0.7%

Oil traded mostly slightly lower on demand concerns and Saudi Arabia’s recent pledges for increased output as traders prepared for tomorrow’s inventory reports.

The U.S. dollar index fell slightly and treasuries rose a bit on doubts that the fed will actually raise interest rates anytime soon.

The Dow, Nasdaq, and S&P fell on evidence that higher energy prices are working their way through the rest of the economy. Banking stocks were a notable weak note as Goldman Sachs reported better then expected earnings but also expressed the need for banks to raise additional capital.

Among the big names making news in the market today were Best Buy, Air Canada, Goldman Sachs, United Airlines, Rohm & Haas, and Cadence Design Systems and Mentor.

“Gold is reacting to the disappointment of the G-8 conference at the weekend where some sort of agreement was hoped for to ensure a strong $, but none came. Instead more words left the market in the air. Now the $ is slipping, while still in its trading range of $1.53 to $1.59 against the Euro. But with no action impending where to now?

Gold has established a pattern of moving in the opposite direction to the $ and so it is stronger, with silver which is even more robust.

With Joseph Lieberman about to reveal what regulations he proposes this week we are entering an environment where 'stability' is to come from regulation. That shows for sure we have entered crisis days. This can only be positive for gold and silver” - Julian D.W. Phillips, www.goldforecaster.com

“August Gold finished up 0.6 at 886.9, 2.2 off the high and 10.2 up from the low.

July Silver closed down 0.157 at 17.075. This was 0.15 up from the low and 0.125 off the high.

The gold market was once again buffeted by the ebb and flow of the US Dollar. In fact, it also seemed as if weakness in oil prices and weaker than expected US economic readings served to keep the gold market off balance. Certainly weaker than expected US numbers undermined the Dollar and that initially provided a recovery bounce in the gold market, bit it is also possible that ongoing fears of US slowing cast a shadow over all the metals markets on Tuesday. It is possible that the failure to get a definitively bullish inflationary reaction to the US PPI report discouraged some in the bull camp.

While the silver market seemed to outperform the gold market during the trade Tuesday and it generally managed to hold most of the gains from the prior session, it seemed as if the rest of the metals markets were serving to undermine the silver trade. As in the gold market the weaker than expected US scheduled numbers undermined the Dollar and that served to boost silver just ahead of mid session, but slow US economic readings could be a double edged sword for the silver bulls.”- The Hightower Report, Futures Analysis and Forecasting

Frontier’s (FRP.V) withdrawn rejection to Eldorado’s (EGO) bid, Crystallex’s (KRY) filed rebuttal, and Centerra’s (CG.TO) reorganized management team and cancelled gold licenses 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.

Uranium City Resources Inc. welcomes Malcolm Bucholtz as a Director - More
- June 17, 2008 | Item | E-mail

Incumbent Genco Board receives institutional support - More
- June 17, 2008 | Item | E-mail

International Kirkland ("IKI") Private Placement and Cosby-Walker Gold Base Metal Property, Ontario, Update - More
- June 17, 2008 | Item | E-mail

Goldcliff Resource Corporation: York-Viking Zone-Main Block-Gold Results - More
- June 17, 2008 | Item | E-mail

Forsys Receives Notice of Mining Licence - More
- June 17, 2008 | Item | E-mail

Melkior to Drill 56 Hole Program at Timmins - More
- June 17, 2008 | Item | E-mail

RJK Explorations announces the results of its 2008 annual and special meeting and granting of stock options - More
- June 17, 2008 | Item | E-mail

Carmax Explorations Ltd.: Additional Financing; 2008 Drilling Program Increased - More
- June 17, 2008 | Item | E-mail

Centerra Gold Reports Kumtor Mining Operations Continue Uninterrupted - "Centerra Gold Inc. (Toronto:CG.TO - News) stated today that it's Kumtor mining operations continue uninterrupted. According to available information the Company understands that the Bishkek InterDistrict Court of the Kyrgyz Republic has issued an order invalidating the mining licenses covering the Southwest area and Sarytor areas and the exploration license covering all of the Kumtor deposits." More
- June 17, 2008 | Item | E-mail

Pershimco Executes a JV Agreement With Dia Bras Providing for an Option to Acquire Up to 70% of San Miguel and La Bamba Silver Properties - More
- June 17, 2008 | Item | E-mail

Mantis Mineral Corp. encouraged by drilling at Orphan - More
- June 17, 2008 | Item | E-mail

Northern Lion Secures Option for Cyprus Property - More
- June 17, 2008 | Item | E-mail

Genco Resources' Largest Shareholder Disputes Claims by Genco's Chairman in Proxy Contest - More
- June 17, 2008 | Item | E-mail

Genco responds to Dissident Circular - More
- June 17, 2008 | Item | E-mail

Centerra loses Kumtor license and CEO, shares drop - "Centerra Gold's (CG.TO: Quote, Profile, Research, Stock Buzz) shares plunged 25 percent on Tuesday after a Kyrgyz court stripped its licenses to develop the Kumtor gold deposit in the Central Asian state, while the company said Chief Executive Len Homeniuk has retired effective immediately." More
- June 17, 2008 | Item | E-mail

Scandinavian Receives Court Approval for First Quantum Arrangement - More
- June 17, 2008 | Item | E-mail

Etruscan's Youga Gold Mine expects to achieve commercial production end of June - More
- June 17, 2008 | Item | E-mail

Crystallex Files Rebuttal to Minister of Environment - "Crystallex International Corporation (Toronto:KRY.TO - News)(AMEX:KRY - News) reported today that it has filed a rebuttal with the Minister of the Environment and Natural Resources of Venezuela ("MinAmb") under the administrative laws of the Bolivarian Republic of Venezuela." More
- June 17, 2008 | Item | E-mail

Frontier softens opposition to Eldorado bid - "Frontier Pacific Mining Corp (FRP.V: Quote, Profile, Research, Stock Buzz), which has been fighting a hostile takeover bid from larger Canadian miner Eldorado Gold Corp (ELD.TO: Quote, Profile, Research, Stock Buzz), said on Tuesday it had received no competing offers, and withdrew its recommendation to reject the offer.

In a statement ahead of the offer's expiry at 5 p.m. (2100 GMT) later on Tuesday, Frontier said it had also canceled its shareholder rights plan, although it restated its position that the approximately C$170 million ($167 million) offer undervalues Frontier's assets." More
- June 17, 2008 | Item | E-mail

Hard Creek Increases Measured Resource by 45% at Turnagain - More
- June 17, 2008 | Item | E-mail

Global Gold Holds Annual Meeting - More
- June 17, 2008 | Item | E-mail

American Bonanza Corporate Update - More
- June 17, 2008 | Item | E-mail

Capstone Added to the S&P/TSX Global Mining Index - More
- June 17, 2008 | Item | E-mail

Firesteel to raise $1,050,000 by selling 700,000 of its shares in Blacksteel; Blacksteel to raise $450,000 in a private placement - More
- June 17, 2008 | Item | E-mail

Artha Begins Phase One Uranium Exploration in Wyoming - More
- June 17, 2008 | Item | E-mail

Virginia Mines: Update on Results From Exploration on Gold Projects in James Bay - More
- June 17, 2008 | Item | E-mail

Drilling Program Underway at Tombstone Exploration Site - More
- June 17, 2008 | Item | E-mail

Cancor announces rights offering - More
- June 17, 2008 | Item | E-mail

Drilling Results Continue to Extend Gold Mineralization at Mana - More
- June 17, 2008 | Item | E-mail

Uracan discovers new mineralized zone at TJ Zone and additional wide uranium mineralization at Lac Petit, North Shore Property, Quebec - More
- June 17, 2008 | Item | E-mail

Callinan Plans Summer Drill Program for Dion Lake Uranium Claims - More
- June 17, 2008 | Item | E-mail

Canadian Royalties: Nunavik Nickel Project Exploration Update: Extension of High-Grade Mesamax Deep Zone; Anomalous Rhodium Detected at Allammaq - More
- June 17, 2008 | Item | E-mail

Rockcliff's Phase 2 Airborne Survey Identifies VTEM Anomalies at Snow Lake VMS Project, Manitoba - More
- June 17, 2008 | Item | E-mail

Augusta Secures US$40 Million Facility with Sumitomo - More
- June 17, 2008 | Item | E-mail

Premier - Sutter drilling discovers high grade gold at Santa Teresa including 479.31g/t gold (13.98 oz/ton) across 2.0 metres - More
- June 17, 2008 | Item | E-mail

Hana Mining Adds Additional 800 Meters of Strike Length at Ghanzi Copper-Silver Project in Botswana - More
- June 17, 2008 | Item | E-mail

Soltoro Begins Resource Definition Drill Program at El Rayo Silver-Gold Project in Mexico - More
- June 17, 2008 | Item | E-mail

Labrador nickel exploration commences - More
- June 17, 2008 | Item | E-mail

Underworld Commences Drilling at White Gold and Black Fox Gold Project, Yukon - More
- June 17, 2008 | Item | E-mail

Lomiko Stakes New Ground, Starts Big Nak Airborne Survey to Identify Drill Targets - More
- June 17, 2008 | Item | E-mail

Farallon Makes Key Appointments in Management & Finance - More
- June 17, 2008 | Item | E-mail

Full Metal Options OG Zinc-Lead-Silver Property to Ashburton Ventures - More
- June 17, 2008 | Item | E-mail

Freegold Reports Positive Results from Initial Bulk Sampling at Golden Summit - More
- June 17, 2008 | Item | E-mail

Mosquito Receives Excellent Preliminary Metallurgy Report on CUMO - More
- June 17, 2008 | Item | E-mail

Timmins Gold Corp.: $5,000,000 First Tranche of Private Placement Closed - More
- June 17, 2008 | Item | E-mail

Cadiscor Adds More Gold Resources to Discovery - More
- June 17, 2008 | Item | E-mail

USCorp Reports Progress on its California Picacho Salton Gold Property - More
- June 17, 2008 | Item | E-mail

Campbell Resources announces closing of the final tranche of previously announced financing - More
- June 17, 2008 | Item | E-mail

Aspire Announces Approval From Chinese Government - More
- June 17, 2008 | Item | E-mail

Golden Hope Acquires Riviere des Plantes Property as Part of the Bellechasse-Chaudiere Gold Project in Southern Quebec - More
- June 17, 2008 | Item | E-mail

San Anton Announces Cerro del Gallo Mineral Resource Update - More
- June 17, 2008 | Item | E-mail

Thundermin and Cornerstone Intersect 2.2% Cu Over 74.0 M, Including 2.6% Cu Over 13.0 M; 2.8% Cu Over 7.3 M; 2.9% Cu Over 10.6 M and 6.5% Cu Over 8.6 M - More
- June 17, 2008 | Item | E-mail

Firstgold Corp. Adds Two Properties to Its Exploration Portfolio - More
- June 17, 2008 | Item | E-mail

Geocom Develops Targets at Cerro Vaca, Chile - More
- June 17, 2008 | Item | E-mail

Lydian Confirms Bulk Tonnage, Open-Pittable Nickel Potential at Rahovec Project in Kosovo - More
- June 17, 2008 | Item | E-mail

Canstar Resources Inc.: Mary March Property Adjudication Hearing Scheduled; Red Lake Drilling Program Planned - More
- June 17, 2008 | Item | E-mail

Wits Basin Discovers New Ore-Grade Gold Interval of Potential Mineable Width at Bates-Hunter Project - More
- June 17, 2008 | Item | E-mail

Karmin Exploration: Drill Results From Aripuana Project, Brazil - More
- June 17, 2008 | Item | E-mail

Sherwood Announces Significant Increase in Copper-Gold Resources at Minto Mine, Yukon - More
- June 17, 2008 | Item | E-mail

MAX begins drill program at Gold Hill Molybdenum Project, Alaska - More
- June 17, 2008 | Item | E-mail

Increase in Cash Consideration to $4.50 for Pan African Mining Corp. Shares Announced by Asia Thai Mining Co., Ltd. and 0819615 B.C. Ltd. - More
- June 17, 2008 | Item | E-mail

Uranium Bay Commences 2008 Uskawanis Field Campaign - More
- June 17, 2008 | Item | E-mail

Ur-Energy's Lost Creek NRC Application Moves Forward - More
- June 17, 2008 | Item | E-mail

Mega Uranium Ltd.: Drilling Underway Close to Rio Tinto's Kintyre Uranium Resource - More
- June 17, 2008 | Item | E-mail

U3O8 Corp. Reports First Uranium Mineralization in the Accori Target Area - More
- June 17, 2008 | Item | E-mail

Centerra Gold Reorganizes Management Team - "The board of directors of Centerra Gold Inc. (TSX:CG - News) announces today that Stephen A. Lang has been appointed to the board and promoted to President and Chief Executive Officer to replace Leonard A. Homeniuk upon his retirement from the Company and the board of directors, effective immediately. Additionally, Jeffrey S. Parr Vice President Finance has been promoted to Chief Financial Officer to replace David M. Petroff, who has resigned to pursue other interests." More
- June 17, 2008 | Item | E-mail

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