Gold Seeker Closing Report: Gold and Silver End Slightly Higher After Earlier Losses

	Close	Gain/Loss
Gold	$944.55	+$2.00
Silver	$18.315	+$0.175
XAU	190.35	-3.64%
HUI	443.39	-3.33%
GDM	1325.46	-2.77%
JSE Gold	2383.77	-3.57
USD	72.07	-0.32
Euro	158.79	+0.85
Yen	94.44	+0.19
Oil	$143.57	+$2.60
10-Year	3.959%	-0.033
T-Bond	116.125	+0.609375
Dow	11215.51	-1.46%
Nasdaq	2251.46	-2.32%
S&P	1261.52	-1.82%

Gold and silver remained near unchanged in Asia before they dropped over 1% in London to as low as $931.45 and $17.868 by a little before 8AM EST, but they then rallied back higher in New York and ended near their highs of $945.52 and $18.33 with gains of 0.21% and 0.96%.

Euro gold fell near €593, platinum lost $2.50 to $2071, and copper gained over 15 cents to about $4.08.

Gold and silver equities fell throughout the day along with the major indices and ended with about 3% losses.

Report	For	Reading	Expected	Previous
ADP Employment	June	-79K	-20K	25K
Factory Orders	May	0.6%	0.5%	1.3%

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 6/28 expected at 385,000 and June’s job data. Nonfarm Payrolls are expected at -60,000, the Unemployment Rate is expected at 5.4%, Hourly Earnings are expected at 0.3%, and the Average Workweek is expected at 33.7. At 10AM is the ISM Services report for June expected at 51.0.

Oil rose to a new record high of $143.91 after crude inventories fell a larger than expected 2 million barrels. Gasoline inventories grew 2.1 million barrels, distillates rose 1.3 million barrels, and refinery utilization rose 0.6% to 89.2%. Oil has climbed above $144 in after hours trade at the time or writing.

The U.S. dollar index fell and treasuries rose as interest rates dropped on the worse than expected ADP Employment report that raised worries over tomorrow’s government jobs report that comes shortly after an expected interest rate hike from the ECB.

The Dow, Nasdaq, and S&P fell throughout the day and ended about 2% lower on record high oil and concern about the economy.

Among the big names making news in the market today were Blockbuster, UnitedHealth, GM, Avis, and Starbucks.

Point 1: International regulations are draconian with central banks now becoming the regulators to stabilize markets. Under the proposed new regulations the new regulators have the right and obligation to take over all types of banks and international investment banks when required without usual procedures.

Translation: This is it. The OTC derivative meltdown is far from over or under control. The history of central bank’s judgment of markets is probably the worst anywhere. In retrospect, central banks have always caused the bubbles and breaks.

Translation: “Dear ECB: Please do not raise rates.” Good luck on that one.

Translation: It is going to get really bad out there. Put on a hard hat if you walk close to any building in which financial entities exist.”- Jim Sinclair, JSMineset.com

September Silver closed up 0.135 at 18.425. This was 0.285 up from the low and 0.005 off the high.

August gold spent most of the day inside yesterday's range, but by the end of the day the market was threatening yesterday's highs. The crude oil market made new all time highs again today, as were grains, livestock, and a host of other commodities, feeding fears of commodity price inflation, which is supportive to gold. The dollar was down sharply, which also makes gold and other precious metals an attractive alternative investment.

July silver pushed above yesterday's highs and was threatening the May 26th high of 183.75 by the end of the session. In addition to finding support from outside market forces like the weak dollar and soaring commodity prices which make silver an attractive alternative investment, the growing number of mines going out on strike also lent support. Reports that workers at two more mines in Peru threatened to go out on strike lent support as well. While the latest struck mines primarily produce copper, zinc and gold, the strike action in general appears to be spreading across all types of mines, which implies silver could be affected as well. Peru is the world largest producer of silver.”- The Hightower Report, Futures Analysis and Forecasting

Peru’s mining strike, Ivanhoe’s (IVN) mine in Mongolia, Apollo’s (AGT) amended financing, Central Sun’s (SMC) drill results, Fortuna’s (FVI.V) ongoing operations in Peru, South American Silver’s (SAC.TO) drill results, ECU’s (ECU.TO) drill results, Alexco’s (AXU) drill results, and Arian’s (AGQ.V) assay 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.

Expanded Successful Regional Exploration Is Well Underway in the Silvery Slocan - More
- July 02, 2008 | Item | E-mail

Jasper Mining Corporation commences 2008 exploration program on Isintok property - More
- July 02, 2008 | Item | E-mail

Mongolia riots blur outlook for big Ivanhoe mine - "Rioting in Mongolia's capital over alleged election fraud could further blur the timetable for getting government approval for Ivanhoe Mines' (IVN.TO: Quote, Profile, Research) big Oyu Tolgoi copper-gold deposit, analysts said on Wednesday." More
- July 02, 2008 | Item | E-mail

South American Silver Announces Extension of Silver Enrichment at Malku Khota - "South American Silver Corp. ("SASC" or the "Company) (Toronto:SAC.TO - News) is pleased to announce the results from the next 12 holes from the Malku Khota Project, Bolivia. All diamond drill holes are from the Central Limosna Zone." More
- July 02, 2008 | Item | E-mail

Apella Increases Vanadium Interests - More
- July 02, 2008 | Item | E-mail

Canada junior miners seen more prone to takeover - "Tight credit conditions are keeping exploration-stage Canadian mining companies from raising capital, a development that could lead to more takeovers from larger players, according to a study released on Wednesday." More
- July 02, 2008 | Item | E-mail

Breakwater Issues News Release Pursuant to Early Warning Requirements - More
- July 02, 2008 | Item | E-mail

Fortuna's Peruvian Operations Not Affected by National Strike - "Fortuna Silver Mines Inc. (CDNX:FVI.V - News)(BVL: FVI) wishes to confirm that operations at our Caylloma Mine in southern Peru are unaffected by the miners' union strike which started on Monday this week. All of our mine and office personnel are conducting their activities normally as the mine is non-unionized." More
- July 02, 2008 | Item | E-mail

High Desert Gold's Reconnaissance Program Locates Strong Gold Mineralization on Its Kinkaid Property, Mineral County, Nevada - More
- July 02, 2008 | Item | E-mail

Altai Announces Changes in Board - More
- July 02, 2008 | Item | E-mail

Jinduicheng Molybdenum Group, Ltd. and Northwest Nonferrous International Investment Company, Limited Acquire Yukon Zinc Corporation - More
- July 02, 2008 | Item | E-mail

Mr. Louis Montpellier Joins Abacus Board, Mr. Thomas A. McKeever Appointed Executive Chairman - More
- July 02, 2008 | Item | E-mail

Golden Valley Mines Ltd.: Annual Meeting Results and Corporate Update - More
- July 02, 2008 | Item | E-mail

General Moly Receives Second $50 Million Payment from POSCO - More
- July 02, 2008 | Item | E-mail

Apollo Gold Announces Amendments to Financing - "Apollo Gold Corporation ("Apollo" or the "Company") (TSX:APG - News)(AMEX:AGT - News) announces that it has made certain amendments to the previously announced prospectus offering of up to Cdn$40.0 million of common shares (see May 14, 2008 news release) (the “Offering”). Apollo has filed an amended preliminary short form prospectus dated July 2, 2008 with the securities regulatory authorities in each of the provinces of Canada, other than Quebec in respect of the Offering." More
- July 02, 2008 | Item | E-mail

Management changes at Carlisle - More
- July 02, 2008 | Item | E-mail

Tamerlane Announces Up To C$2.25 Million Financing - More
- July 02, 2008 | Item | E-mail

First Nickel Notice of Lockerby Mine Plan Conference Call Thursday July 3rd at 10:30 AM ET - More
- July 02, 2008 | Item | E-mail

SAfrican miners union sets August 6 strike date - "South Africa's biggest miners union said on Wednesday it would down tools on August 6 in a national strike that could halt production in the world's biggest source of platinum and major gold producer." More
- July 02, 2008 | Item | E-mail

Unions at more large Peru mines may join strike - "Workers at several crucial mines in Peru threatened to join a nationwide strike that entered its third day on Wednesday, as miners in hard hats marched through Lima after the government declared the walkout illegal.

Global copper prices MCU3 rose to a two-month high on worries the strike would crimp supplies from the world's No. 2 supplier, as mine workers demanded a bigger share of surging profits. Strikers want Congress to pass a bill that would lift caps on profits that companies share with them." More
- July 02, 2008 | Item | E-mail

Plexmar Engages Intercapital Canada Inc. as Latin American Market Financial Consultants - More
- July 02, 2008 | Item | E-mail

Mantis Mineral Corp. announces private placement - More
- July 02, 2008 | Item | E-mail

ECU Silver Deep Drilling Encounters Mineralization at Depth at Santa Juana - "ECU Silver Mining (Toronto:ECU.TO - News) ("ECU Silver" or "the Company") is pleased to announce preliminary results from deep hole drilling within the Santa Juana vein system on the main Velardena Property. Drilling encountered two types of mineralization within the marble/skarn alteration zone. The first set of mineralization consisted of pyrite-rich calcite veins (the "Calcite Veins") and started 700 metres (2,300 feet) below level 18. The second set of mineralization consisted of massive sulphide veins (the "M-S Veins") as much as a further 150 metres (500 feet) below the Calcite Veins. Confirmation of assay results for the M-S Veins is pending." More
- July 02, 2008 | Item | E-mail

Uravan Announces Exploration Manager - More
- July 02, 2008 | Item | E-mail

Breakwater Provides Update on Labour Negotiations at Myra Falls - More
- July 02, 2008 | Item | E-mail

Hawk Commences Exploration on the Cortez Property, Elliott Lake Area, Northern Ontario - More
- July 02, 2008 | Item | E-mail

Upgrade of GBS Gold's Chinese Big Pit Resource Near the Cosmo Deeps Project - More
- July 02, 2008 | Item | E-mail

Polar Star Mining Corporation-25,000 Metre Diamond Drill Contract - More
- July 02, 2008 | Item | E-mail

GoldSpring Assay Testing Continues to Produce Positive Results - More
- July 02, 2008 | Item | E-mail

Tiger to commence trading on Toronto Stock Exchange - More
- July 02, 2008 | Item | E-mail

Adex Mining Inc. Engages Leading Global Engineering Firm to Complete Scoping Study at Mount Pleasant - More
- July 02, 2008 | Item | E-mail

Western Troy Executes Agreement With Genivar for Bankable Feasibility and Environmental Impact Assessment for Its MacLeod Lake Molybdenum/Copper Project - More
- July 02, 2008 | Item | E-mail

Ressources Appalaches: First Drilling Campaign on the Ashini Uranium Property - More
- July 02, 2008 | Item | E-mail

Afri-Can and Deep South Option the Haib Copper Project, Namibia - More
- July 02, 2008 | Item | E-mail

Gowest Announces Appointment of CFO - More
- July 02, 2008 | Item | E-mail

Baja Mining Closes Sale of 30% of Boleo Project to Korean Consortium for US$294 Million Cash and Project Funding, and Increases Senior Debt Financing to US$665M - More
- July 02, 2008 | Item | E-mail

SLAM Resumes Drilling at Nash Creek - More
- July 02, 2008 | Item | E-mail

Maya Gold & Silver Inc.: Closing of the Initial Public Offering of and Commencement of Trading on the TSX Venture Exchange - More
- July 02, 2008 | Item | E-mail

Labrador Iron Mines Holdings Limited - More
- July 02, 2008 | Item | E-mail

Semafo Announces Inauguration of its Mana Mine - More
- July 02, 2008 | Item | E-mail

Mindoro acquires remaining interest in Batangas Projects and resumes joint venture negotiations - More
- July 02, 2008 | Item | E-mail

Sienna Gold Inc. announces proposed financing - More
- July 02, 2008 | Item | E-mail

Yukon-Nevada Gold Corp. settles with AIG - More
- July 02, 2008 | Item | E-mail

Leading ISL Expert, Dennis Stover, Ph.D., Joins Artha - More
- July 02, 2008 | Item | E-mail

Northern Superior Announces Corporate Services Agreement With Lake Shore Gold Corp. - More
- July 02, 2008 | Item | E-mail

Avion Resources Commences Drill Program at Tabakoto and Segala Gold Projects in Mali - More
- July 02, 2008 | Item | E-mail

Etruscan hits 44 meters of 11.6 grams per tonne gold at the Finkolo project in Mali - More
- July 02, 2008 | Item | E-mail

Wallbridge Mining Initiates 2008 Summer Exploration Program in Sudbury - More
- July 02, 2008 | Item | E-mail

Infill and Extension Drilling Resumes at Jinshan's Dadiangou Gold Project, China - More
- July 02, 2008 | Item | E-mail

Radisson Mining Extends Due Diligence Period Under Its Letter of Intent With Aurizon Mines - More
- July 02, 2008 | Item | E-mail

Centenario Copper Corporation Appoints Richard Leclerc as Chief Operating Officer - More
- July 02, 2008 | Item | E-mail

HuntMountain Releases Best Drill Results to Date at La Josefina Gold-Silver Project - More
- July 02, 2008 | Item | E-mail

Canasia Industries Corporation: Samples Now at Lab for Analysis - More
- July 02, 2008 | Item | E-mail

Yanacocha gold workers may join Peru's mining strike - "Workers at Newmont's (NEM.N: Quote, Profile, Research) gold mine Yanacocha could join a nationwide mining strike that entered its third day on Wednesday, a union leader said, as laborers were off the job at Doe Run Peru's Cobriza mine." More
- July 02, 2008 | Item | E-mail

Alexco Announces Initial 2008 Drill Results at Keno Hill: Exploration and Infill Drilling at Onek Prospect Confirms Zinc-Silver Mineralization - "Alexco Resource Corp. (Toronto:AXR.TO - News)(AMEX:AXU - News) ("Alexco") is pleased to announce initial results from its 2008 core drilling program at the Keno Hill Project, Yukon. Exploration and infill drilling in the area of the historical Onek mine has continued to intersect and expand high grade zinc-silver mineralization previously identified in 2007. The 2007/2008 drill data from the Onek mine area, located approximately 1.5 km northwest of the Bellekeno silver-lead-zinc deposits, will be independently incorporated in a National Instrument 43-101 ("NI 43-101") resource estimation scheduled for completion in Q3 of 2008." More
- July 02, 2008 | Item | E-mail

Central Sun Intersects 8.76 g Au/t Over 15.4 Metres at Limon Mine; Identifies New Zones at Orosi Mine - "Drilling has continued on the new Santa Pancha southern extension to follow up on the promising results from the initial discouvery drilling previously reported and as shown on vertical longitudinal section below in Figure 1. Central Sun Mining Inc. has completed 14 diamond drill holes totaling 4,441 metres of a planned 10,000 metre program in the Limon Mine area. The Santa Pancha orebody, which has the highest grade within the Limon Mine area deposits, is currently being mined on the 100 metre level at a reserve grade of approximately 5.6 g Au/t." More
- July 02, 2008 | Item | E-mail

7 metres for 0.15% U3O8 drilled at östra Järntjärnbäcken, Sweden - More
- July 02, 2008 | Item | E-mail

Mega Uranium Ltd.: Encouraging Drilling Results in the Gunbarrel Basin, Western Australia - More
- July 02, 2008 | Item | E-mail

Uranium One Signs Credit Agreement and Provides Operational Update - More
- July 02, 2008 | Item | E-mail

Arian Silver Corporation: Exploration Update-San Jose Project; More High Grades of Ag-Pb-Zn Across Mineable Widths in 'Solidad' Area - "Arian Silver Corporation ("Arian Silver" or the "Company") (TSX VENTURE:AGQ - News; AIM:AGQ) (PLUS:AGQ) (FRANKFURT:I3A - News) today announced that it has received additional assay results from its Phase-One diamond-drill programme at the San Jose Property, Zacatecas State, Mexico. These results relate specifically to the 'Solidad' area on the San Jose Vein (SJV), approximately one kilometre west of the San Jose Mine." More
- July 02, 2008 | Item | E-mail

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