Gold Seeker Closing Report: Gold and Silver End Mixed and Near Unchanged Before Fed Day

	Close	Gain/Loss
Gold	$889.00	+$4.25
Silver	$16.66	-$0.12
XAU	179.62	-0.50%
HUI	413.44	-1.02%
GDM	1212.96	-0.43%
JSE Gold	2124.46	+14.07
USD	73.25	-0.19
Euro	155.68	+0.53
Yen	92.77	+0.07
Oil	$137.00	+$0.26
10-Year	4.105%	-0.053
T-Bond	114.125	+0.84375
Dow	11807.43	-0.29%
Nasdaq	2368.28	-0.73%
S&P	1314.29	-0.28%

Gold rose roughly $5 to trade on either side of $890 in London before it dipped to $882.40 by midmorning in New York, but it quickly rose back to a new session high of $894.00 and closed $5 off that high with a gain of 0.48%. Silver rose over 1% to $16.95 by late trade in Asia, but it then fell back off for most of the rest of trade and ended near its low of $16.58 with a loss of 0.72%.

Euro gold remained at about €570, platinum lost $20 to $2018.5, and copper fell a couple of cents to about $3.79.

Gold and silver equities rose roughly 0.5% about an hour into trade and remained at about that level for much of the day, but they then fell back off in the last hour of trade and ended about 1% lower.

Report	For	Reading	Expected	Previous
Consumer Confidence	Jun	50.4	56.0	58.1

Also making economic news today was the S&P/Case-Shiller home price index that reported home prices in 20 cities dropped 15.3% in April from a year earlier. Tomorrow at 8:30AM EST brings the Durable Goods Orders report for May expected at 0.0% and at 10AM is the New Home Sales report for May expected at 510,000. At 2:15PM is the FOMC Policy Statement that is expected to keep rates unchanged, but most will be closely watching the rest of the statement for clues about what the fed may do later in the year.

Oil ended slightly higher after a seesaw session as traders waited for tomorrow’s fed meeting and inventory reports.

The U.S. dollar index fell and treasuries rose after it was announced that Consumer Confidence fell to a 16-year low, housing prices fell 15.3%, and a 2-year note auction drew pretty good demand.

The Dow, Nasdaq, and S&P fell roughly 1% by midmorning on disappointing economic data before they rebounded to find modest gains by mid-afternoon on bargain hunting, but all three indices fell back off by the close and ended slightly lower.

Among the big names making news in the market today were UPS, Dow Chemical, Kroger, ConAgra, Kodak, FedEx, and CSX.

“August Gold finished up 4.4 at 891.6, 4.4 off the high and 6.5 up from the low.

July Silver closed down 0.157 at 16.633. This was 0.018 up from the low and 0.277 off the high.

Clearly the gold market out performed the rest of the metals complex as it mostly favored positive ground on Tuesday in the face of generally weak price action in silver, platinum and copper. Given the weakness in the Dollar and the divergence in the precious metals markets, it would seem like the gold market was tracking financial or flight to quality issues while the rest of the precious metals markets might have been undermined by the flow of rather dismal US economic news. In short, gold seemed to benefit from financial related issues and in turn wasn't that concerned about the prospect of slumping physical demand. In fact, the gold market didn't even seem to be undermined as a result of the reversal in energy prices.

With silver, platinum and copper prices mostly weak throughout the trading session Tuesday and the gold market favoring the upside, some players got the sense that the quasi industrial metals markets were fretting over the prospect of US slowing. In short, silver seemed to fall victim to typical physical commodity market pressure in the face of conditions that seemed to be bordering on the recessionary theme again.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: SPDR added another 12.26 tonnes.

Note: Change in Total Tonnes from yesterday’s data: 46.16 tonnes were removed from the trust.

Keegan’s (KGN) drill results, Ecuador’s mining overhaul, Crystallex’s (KRY) discussions with Venezuela's environment ministry, Orko’s (OK.V) drill results, and Silver Wheaton’s (SLW) new common share purchase warrants 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.

Iberian Minerals Corp. Updates Project Financing - More
- June 24, 2008 | Item | E-mail

Northland Resources: Teleconference to Discuss Preliminary Economic Assessment of its Iron Ore Projects - More
- June 24, 2008 | Item | E-mail

Gravity West Acquires Quebec Iron Titanium Project With Historical Resource - More
- June 24, 2008 | Item | E-mail

Cavan Ventures Inc. Announces MOU with Zhangjiajie XiangTie Mining Ltd. - More
- June 24, 2008 | Item | E-mail

Keegan Continues to Hit Excellent Gold Grades on Stepout Holes at Esaase - "Keegan Resources Inc. ("Keegan") (CDNX:KGN.V - News)(AMEX:KGN - News) is pleased to announce results from step out drilling at the Esaase property. Highlights include 32 meters of 1.67 g/t Au in the B-1 zone, 25 meters of 1.51 g/t Au in the north extension, and 38 meters of 1.68 g/t Au in the south extension." More
- June 24, 2008 | Item | E-mail

Silvermet Inc.: Frame Mining Corporation Exercises Warrants - More
- June 24, 2008 | Item | E-mail

Eloro Grants Stock Options - More
- June 24, 2008 | Item | E-mail

Pacific Coast Nickel Commences Drilling at Big Nic - More
- June 24, 2008 | Item | E-mail

Tao Minerals to Acquire Colombian Subsidiary Company MINERA TAO SA - More
- June 24, 2008 | Item | E-mail

General Metals Drilling Finds Nearly Tenth opt Gold Equiv. in 20 Foot Intercept Included in 140 Foot Intercept Averaging 0.029 opt Gold Equiv. in Hole GM-46 - More
- June 24, 2008 | Item | E-mail

American Bonanza Receives $2 Million Cash Payment on Taurus Option - More
- June 24, 2008 | Item | E-mail

Ecuador assembly to accept resignation of chief - "Ecuador's constitutional assembly will accept the resignation of leader Alberto Acosta, a party leader said on Tuesday, complicating President Rafael Correa's bid to overhaul state institutions." More
- June 24, 2008 | Item | E-mail

SearchGold Grants Stock Options - More
- June 24, 2008 | Item | E-mail

MacDonald Appointed to Board of Directors - More
- June 24, 2008 | Item | E-mail

Bold Ventures and Melkior Resources to Become Partners on 'Ring of Fire' Nickel Property - More
- June 24, 2008 | Item | E-mail

Bannerman Resources' Resource Drilling Finalised at Anomaly A - More
- June 24, 2008 | Item | E-mail

First Quantum Minerals Appoints Sharon Loung, Director, Investor Relations - More
- June 24, 2008 | Item | E-mail

Medallion Completes Helicopter Geophysical Survey Of Amazing Grace Gold Property - More
- June 24, 2008 | Item | E-mail

Altius Minerals: Newfoundland and Labrador Refining Corporation Obtains Court Ordered Stay of Proceedings - More
- June 24, 2008 | Item | E-mail

Lithic Intersects 8.65 Metres of 1.67% MoS2 at Crypto - More
- June 24, 2008 | Item | E-mail

Goldstake Completes $475,000 Flow-Through Private Placement - More
- June 24, 2008 | Item | E-mail

Wave Uranium Adds Jefferson McCleary To Advisory Board - More
- June 24, 2008 | Item | E-mail

CMC Metals to Mine 20,000 Tonnes Per year at ROM 1100gm/tonne Ag at Its 100% Owned Silver Hart Mine - More
- June 24, 2008 | Item | E-mail

TSX Venture Ranks Noront Resources Ltd. as Top Mining Company in 2008 TSX Venture 50 - More
- June 24, 2008 | Item | E-mail

RiskMetrics Group Reaffirms Support "FOR" U3O8 Corp's Director Nominees - More
- June 24, 2008 | Item | E-mail

Anooraq Announces Appointment of New President and Chief Executive Officer - More
- June 24, 2008 | Item | E-mail

Phoenix Matachewan Mines Inc.: Infinitem Geophysics Completed at Barville; Summer Drill Program Planned, Options Granted - More
- June 24, 2008 | Item | E-mail

MetalCORP Discovers Second High Grade Molybdenum (Mo)-Rhenium (Re) Zone in a Porphyry Rock Unit at Depth; Playter Mo-Re Quartz Vein Also Intersected - More
- June 24, 2008 | Item | E-mail

Luna Gold intercepts 57.00 m of 1.25 g/t Au at Aurizona, extending gold mineralization - More
- June 24, 2008 | Item | E-mail

Quaterra Discovers Uranium Mineralized Breccia Pipe on Arizona Strip - More
- June 24, 2008 | Item | E-mail

Antonio Ortuzar Appointed as Chairman of the Board of Directors of Explorator - More
- June 24, 2008 | Item | E-mail

International Minerals Reports High-Grade Drill Results at Rio Blanco Project, Ecuador, Including 2.2m at 30.8 g/t and 3.6m at 12.1 g/t Gold - More
- June 24, 2008 | Item | E-mail

Aultra Gold Plans Drill Program at Its Advanced Basin Gulch Property in Granite County, Montana - More
- June 24, 2008 | Item | E-mail

AXMIN Inc.: Holes 150 & 149 Return 16.8 g/t Au Over 10.5 m and 9.3 g/t Au Over 9.0 m High Grade Mineralisation Continues at Depth at Komahun Project - More
- June 24, 2008 | Item | E-mail

Trelawney Announces Complete Drill Results and High Grade Gold Results up to 11.66 g/t Au on Surface in Wawa - More
- June 24, 2008 | Item | E-mail

Western Copper Announces Positive Results of Pre-Feasibility Study on Casino Copper-Gold-Molybdenum Project - More
- June 24, 2008 | Item | E-mail

Aquila Resources Inc.: Metallurgical Results From Back Forty Project - More
- June 24, 2008 | Item | E-mail

Stefan Lundewall - Investor Relations Contact at Boliden - More
- June 24, 2008 | Item | E-mail

Largo Begins New Drill Program at Northern Dancer Tungsten-Molybdenum Project, Yukon - More
- June 24, 2008 | Item | E-mail

Wits Basin Provides Update on Bates-Hunter Mine Project - More
- June 24, 2008 | Item | E-mail

Pure Nickel Exploration Update - More
- June 24, 2008 | Item | E-mail

Mexoro Minerals Commences Drilling at the Guazapares Project in Chihuahua, Mexico - More
- June 24, 2008 | Item | E-mail

Rocher Deboule Minerals Corp.: NI 43-101 Completed at the Artillery Mountains Manganese Deposits in North Western Arizona, USA - More
- June 24, 2008 | Item | E-mail

Supreme Acquires Property in Copper Mountain Camp - More
- June 24, 2008 | Item | E-mail

Acero-Martin Exploration Launches New Website - More
- June 24, 2008 | Item | E-mail

Crystallex and Ministry of Environment Begin Discussions; National Assembly Committee Supports Las Cristinas - "CRYSTALLEX INTERNATIONAL CORPORATION (Toronto:KRY.TO - News)(AMEX:KRY - News) wishes to advise that on June 18, 2008, Crystallex was invited to a meeting by representatives of the Ministry of the Environment ("MinAmb"), led by Vice Minister of Environmental Planning and Administration, Ing. Merly Garcia. At this meeting, Crystallex was informed that MinAmb was instructed by the Government to reconsider issuance of the Las Cristinas Environmental Permit to Affect Natural Resources (the "Permit") by discussing with Crystallex possible modifications of the Las Cristinas project, which could enable the Permit to be issued." More
- June 24, 2008 | Item | E-mail

Orko Silver Encounters Multiple High-grade Intercepts from Martha Vein - "Of particular note for the Martha Vein is hole BP08-189 which yielded a true thickness of 9.47 metres grading gold 1.369 g/t and silver 323.3 g/t for a silver-equivalent of 405.4 g/t. Also, hole BP08-181 yielded 6.80 metres grading gold 0.251 g/t and silver 551.5 g/t for a silver-equivalent of 566.6 g/t." More
- June 24, 2008 | Item | E-mail

Silver Wheaton to Raise Up to Cdn$136 Million Through Offer to Induce Early Exercise of Publicly-Traded Warrants; Announces Increase in Debt Capacity - "Silver Wheaton Corp. ("Silver Wheaton") (Toronto:SLW.TO - News)(NYSE:SLW - News) is pleased to announce that it has filed a preliminary prospectus in each of the provinces of Canada and a registration statement in the United States to qualify the distribution of approximately 3 million new common share purchase warrants ("New Warrants") to holders of two of its three series of publicly-traded warrants (the "Existing Warrants"). The New Warrants are being offered as an incentive to holders of Existing Warrants to exercise their Existing Warrants during a 20 business day early exercise period (the "Early Exercise Period") expected to commence on or about August 8, 2008 and end on or about September 5, 2008." More
- June 24, 2008 | Item | E-mail

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