Gold Seeker Closing Report: Gold and Silver Gain About 1% Despite Oil Drop and Dollar Gain

	Close	Gain/Loss
Gold	$902.00	+$10.90
Silver	$17.43	+$0.13
XAU	178.61	-0.76%
HUI	409.26	-0.99%
GDM	1212.32	-0.98%
JSE Gold	2194.59	-10.69
USD	73.49	+0.06
Euro	155.01	-0.32
Yen	92.61	-0.10
Oil	$131.93	-$4.75
10-Year	4.199%	+0.045
T-Bond	113.25	-0.328125
Dow	12063.09	+0.28%
Nasdaq	2462.07	+1.33%
S&P	1342.83	+0.38%

Gold fell nearly $5 to $886.45 by midday in London, but it then spiked over $20 higher at the New York open and made a high of $908.25 before it fell back off slightly into the close and ended with a gain of 1.22%. Silver fell to $17.12 and rose to $17.722 before it closed with a gain of 0.75%.

Euro gold rose to about €579, platinum lost $46 to $2042, and copper gained a few cents to about $3.78.

Gold and silver equities rose roughly 2% by midmorning, but they then fell back off for most of the rest of trade and ended nearly 1% lower.

Report	For	Reading	Expected	Previous
Initial Claims	6/14	381K	375K	386K
Leading Indicators	May	0.1%	0.0%	0.1%
Philadelphia Fed	Jun	-17.1	-10.0	-15.6

Oil fell nearly $5 after China announced it will reduce its subsidies and effectively raise gas prices for its citizens by 17-18%. This was a surprise move and is expected to reduce global demand growth while Saudi Arabia also announced plans for another 200,000 barrel per day increase in output.

The U.S. dollar index rose slightly and treasuries fell while the Dow, Nasdaq, and S&P eventually rose after oil closed markedly lower.

Among the big names making news in the market today were Kerkorian and Ford, Circuit City, Bear Stearns, and J.M Smucker.

“August Gold finished up 10.7 at 904.2, 5.3 off the high and 10.7 up from the low.

July Silver closed up 0.13 at 17.47. This was 0.205 up from the low and 0.15 off the high.

The gold market broke through resistance at $900 today despite a weaker crude oil price and traded in a choppy, sideways pattern, albeit at the higher price level, throughout the session. Overnight gains in crude oil in the wake of an attack on petroleum infrastructure in Nigeria appeared to be the spark that sent gold higher, but gold held its own when crude oil went lower on the day later in the session. A better than expected jobs report this morning increases the market's confidence that the Fed would raise rates, which would be supportive to the dollar and therefore tend to pressure the metals. Crude oil was weaker and the stock market and dollar both found modest support today, but none of these moves appeared to be dramatic enough to shake gold's confidence.

July silver broke out above the recent trading range today and, unlike gold, even traded above the June highs. Silver appeared to be trading off of the copper market, which traded to its highest level since mid-May early on. Copper managed to hold those gains even after an announcement of a settlement to a 2-day strike in Peru, as well as a possible resolution to a "blockade" by local residents in Monquegua, which has blocked access to a copper mine and smelter there.”- The Hightower Report, Futures Analysis and Forecasting

Yamana’s (AUY) exploration update, Alexco’s (AXU) permitting, Excellon’s (EXN.TO) mine reactivation, MAG’s (MVG) assay results, and Bear Creek’s (BCM.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.

Golden Share Increases Available Financing to $800,000 - More
- June 19, 2008 | Item | E-mail

GWR Resources announces additional assays, Aurizon and Peach 1 Zones, Lac La Hache Project - More
- June 19, 2008 | Item | E-mail

Alexco Secures Permitting to Commence Underground Development of the Bellekeno Mine, Keno Hill Silver District - "Alexco Resource Corp. (Toronto:AXR.TO - News)(AMEX:AXU - News) ("Alexco") is pleased to announce that it has received the mining land use permit required to commence re-development of the historic Bellekeno Mine in order to complete an advanced underground exploration program, extract a bulk sample from the silver rich Southwest Zone, and rehabilitate the historic workings in preparation for a production decision in early 2009." More
- June 19, 2008 | Item | E-mail

Mineral Hill Industries Ltd. - Non-Brokered Private Placement - More
- June 19, 2008 | Item | E-mail

Verena Closes Bonfim Sale - More
- June 19, 2008 | Item | E-mail

Silvermet Appoints W.S. (Steve) Vaughan as a Director - More
- June 19, 2008 | Item | E-mail

Klondex Announces AGM Voting Results - More
- June 19, 2008 | Item | E-mail

Eagle Plains Resources Commences Summer Field Programs - More
- June 19, 2008 | Item | E-mail

Golden Hope Mines Launches Drill Program in Bellechasse-Chaudiere Quebec: Serpentinites and Timmins are Priority Targets - More
- June 19, 2008 | Item | E-mail

Ventana Announces New Gold Discovery in Colombia-106.5 Meters of 7.81 g/t Au - More
- June 19, 2008 | Item | E-mail

Taranis Starts Drilling at Thor Project - More
- June 19, 2008 | Item | E-mail

MacDonald Mines Named to 2008 TSX Venture 50(TM) - More
- June 19, 2008 | Item | E-mail

Yale Samples 13.3 Vertical Metres of 1.04 % Cu, 36.9 G/T Ag, and 0.61 % Zn Within La Verde Grande Mine, Sonora, Mexico - More
- June 19, 2008 | Item | E-mail

Excellon Resumes Normal Operations at Platosa - "Excellon Resources Inc. (Toronto:EXN.TO - News) has resumed normal operations at the Platosa mine in Durango State, Mexico. Following dewatering of the mine below the active mining areas, the main dewatering station has been restarted and mine production and development reactivated. Delivery of ore to the Penoles' Naica mill will be resumed over the next few days." More
- June 19, 2008 | Item | E-mail

Mantis Mineral Corp. adopts shareholder rights plan - More
- June 19, 2008 | Item | E-mail

Matamec Completes Two Additional Drill-Holes on Matheson JV Gold Property - More
- June 19, 2008 | Item | E-mail

Capella Resources Updates on Its Activities in South America - More
- June 19, 2008 | Item | E-mail

Nunavik Nickel Project Exploration Update: Crews to Mobilize to Site June 30th; 25,000 Metres of Drilling Planned - More
- June 19, 2008 | Item | E-mail

Firesteel affiliate, Blacksteel, announces appointment of President - More
- June 19, 2008 | Item | E-mail

Wesdome announces intention to make a normal course issuer bid - More
- June 19, 2008 | Item | E-mail

Golden Band Resources: Bingo Underground Exploration Update - More
- June 19, 2008 | Item | E-mail

Darnley Bay Resources Limited Update - More
- June 19, 2008 | Item | E-mail

Garrison Announces Delay in Completion of Current Financing and Commencement of Drilling at Tovshiir - More
- June 19, 2008 | Item | E-mail

MPH Ventures Significantly Extends Length of Pidgeon Molybdenum Deposit in NW Ontario - More
- June 19, 2008 | Item | E-mail

SLAM Strikes More Gold Intervals - More
- June 19, 2008 | Item | E-mail

Normabec Releases its Initial Resource Estimate on the Real De Catorce Silver Project in Mexico - More
- June 19, 2008 | Item | E-mail

La Mancha's White Foil Resource Grows Significantly - More
- June 19, 2008 | Item | E-mail

Typhoon Acquires Quebec Property With Chromium and Platinum Potential - More
- June 19, 2008 | Item | E-mail

Selwyn Resources Receives Permits for All-Season Road Access to Selwyn Project - More
- June 19, 2008 | Item | E-mail

Pediment Exploration Ltd.: Los Planes Returns 13.7 m of 16.3 g/t Gold, and 22.9 m of 8.5 g/t Gold in New Drill Holes - More
- June 19, 2008 | Item | E-mail

Gladstone Pacific Nickel Ltd ACN (104 261 887) ("Gladstone" or "the Company") - Updated Feasibility Study financial results - More
- June 19, 2008 | Item | E-mail

Black Tusk Minerals Announces Closing of Non-Brokered Private Placement - More
- June 19, 2008 | Item | E-mail

Roxmark Mines Limited - Board election - More
- June 19, 2008 | Item | E-mail

Ur-Energy Inc.: 2008 Drilling Program at Bootheel Property - More
- June 19, 2008 | Item | E-mail

GBS Gold Divests Its Share Investment in MDN Inc. - More
- June 19, 2008 | Item | E-mail

Manicouagan Commences Drilling at Mouchalagane Nickel/Copper/PGE Property - More
- June 19, 2008 | Item | E-mail

43-101 Compliant Technical Report Confirms Upwards of 850,000 Gold Equivalent Ounces at ATW's Gullewa Gold-Copper Project - More
- June 19, 2008 | Item | E-mail

Arianne Starts Exploration on the Natashquan and Havre-Nord Projects in North Shore, Quebec - More
- June 19, 2008 | Item | E-mail

Leading Independent Proxy Advisory Firm Recommends Shareholders Vote "FOR" U3O8 Corp's Director Nominees - More
- June 19, 2008 | Item | E-mail

Bancroft Uranium Updates N.I. 43-101 Report Progress - More
- June 19, 2008 | Item | E-mail

Quaterra Resources Inc.: Corporate Update - More
- June 19, 2008 | Item | E-mail

Khan Resources Extends Offer for Western Prospector Group - More
- June 19, 2008 | Item | E-mail

ANDINA Minerals Inc. Announces Final Results From the Phase IV Drill Campaign - More
- June 19, 2008 | Item | E-mail

EurOmax discovers oxide-copper zone at Kazandol project in Macedonia - More
- June 19, 2008 | Item | E-mail

Skygold and Wildrose Plan of Arrangement Receives Shareholder and Court Approval - More
- June 19, 2008 | Item | E-mail

Agnico-Eagle Vests 51% at West Pequop and Elects to Carry AuEx to Earn Additional 19% - More
- June 19, 2008 | Item | E-mail

Miranda Signs Letter of Intent With CMQ Resources on Red Canyon Project - More
- June 19, 2008 | Item | E-mail

Galway Resources infill drilling intercepts 30 feet of high grade molybdenum & tungsten at Victorio - More
- June 19, 2008 | Item | E-mail

Etruscan drilling multiple targets in Namibia - More
- June 19, 2008 | Item | E-mail

HuntMountain La Josefina Drilling Forges Through Winter Season Based on Strong Gold and Silver Results - More
- June 19, 2008 | Item | E-mail

VMS Reports 19.8 Meters Grading 2.70% Copper in Hole RD-08-35 at Reed Lake Discovery Zone - More
- June 19, 2008 | Item | E-mail

Northland Resources Retracts Results of Preliminary Economic Assessment - More
- June 19, 2008 | Item | E-mail

MAG Silver Reports Further High Grade Silver on Valdecanas Vein - "MAG Silver Corp. (Toronto:MAG.TO - News)(AMEX:MVG - News) ("MAG") on behalf of Minera Juanicipio SA (a joint venture between Fresnillo plc (56%) and MAG (44%)) is pleased to announce assay results from the Valdecanas Vein for Holes QE and QD (see the table below for details). Visual results are also provided for Holes GE and OF. Holes GE, OF, QE and QD were not included within or are outside of the resource estimate recently reported for the Valdecanas Vein (see press release dated June 18, 2008). Hole QE is important as it is the first hole to intersect the vein in the critical east central area which has limited drill information (see details below)." More
- June 19, 2008 | Item | E-mail

International KRL Resources and Logan Resources provide update on Turn River U-Ni project - More
- June 19, 2008 | Item | E-mail

Majescor Acquires De Beers' Interest in the Baker Lake Property, Thelon Basin-Property Hosts Numerous Untested Historical Uranium Occurrences - More
- June 19, 2008 | Item | E-mail

Amendment to Arrangement Agreement Executed by the Parties to Effectuate Price Increase to $4.50 for Pan African Mining Corp. Shares - More
- June 19, 2008 | Item | E-mail

Uranium, Gold and Rare Earths Discovered on Globex's Hunters Point Property and Nearby Claims - More
- June 19, 2008 | Item | E-mail

Bear Creek announces additional silver intercepts further expanding Santa Ana deposit while infill drilling establishes continuity and intersects higher grade - "Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce results for 36 additional diamond drill holes (7,145 meters). Drilling at Santa Ana now totals 41,302 meters in 224 drill holes; or, 130 additional drill holes since the first resource estimation in January 2008 (see news release dated January 24, 2008). Santa Ana is located 200 kilometers south of the Company's Corani silver-base metal deposit in southeastern Peru." More
- June 19, 2008 | Item | E-mail

Yamana Gold Provides Exploration Update on Gualcamayo, El Penon, Pilar De Goias and Mercedes - "These results continue to support the view that QDD Lower West may be a larger deposit than is reflected in the current resource estimate. QDD Lower West is the third and most prospective of the mineralized zones at Gualcamayo. An update to the feasibility study for QDD and AIM is planned to include QDD Lower West by year-end. Production is expected to begin at the QDD deposit at Gualcamayo at the end of 2008 followed by AIM and then QDD Lower West." More
- June 19, 2008 | Item | E-mail

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