Gold Seeker Closing Report: Gold and Silver Gain Another 1%

	Close	Gain/Loss
Gold	$940.55	+$13.70
Silver	$18.21	+$0.13
XAU	187.37	+2.80%
HUI	432.61	+3.23%
GDM	1288.66	+2.84%
JSE Gold	2233.15	-11.58
USD	72.49	-0.13
Euro	157.83	+0.38
Yen	93.43	-0.28
Oil	$141.65	+$5.60
10-Year	3.811%	-0.023
T-Bond	117.3125	+0.125
Dow	11229.02	+0.73%
Nasdaq	2257.85	+1.03%
S&P	1253.39	+0.70%

Gold fell slightly to $925.27 by late trade in Asia and traded a couple of dollars higher in London before it took off in midmorning New York trade and ended near its high of $944.55 with a gain of 1.48%. Silver dropped to $18.02 before it rose to as high as $18.32 in New York and ended with a gain of 0.72%.

Euro gold rose to over €596, platinum gained $26 to $1989.50, and copper fell a couple of cents to about $3.73.

Gold and silver equities rose over 3% by midmorning before they dipped to see roughly 2% gains by early afternoon, but they then rallied back higher into the close and ended with about 3% gains.

Report	For	Reading	Expected	Previous
Initial Claims	7/05	346K	395K	404K

Bernanke and Paulson spoke before the House Financial Services Committee today and expressed the need for further regulation over the financial industry to help prevent some of the problems that have evidenced themselves recently.

Tomorrow at 8:30AM EST brings Export and Import Prices for June and the Trade Balance for May expected at -$62.2 billion. At 10AM is Michigan Sentiment for July expected at 55.5 and at 2PM is the Treasury Budget for June expected at $33.0 billion.

Oil rose on geopolitical worries caused by increased tension over Iran as they test fired more missiles. Supply concerns also increased as Nigerian militants vowed to resume attacks due to Britain’s backing of the government in the conflict there. Prices spiked higher in the last minutes of trade from a roughly 1% gain to an over $5 gain after the White House confirmed Iran’s test and stated that they will defend the gulf.

The U.S. dollar index fell and treasuries rose on worries over the health of the financial system.

The Dow, Nasdaq, and S&P rose after Bill Gross came on CNBC and denied early rumors by saying that Pimco has not reduced its exposure with Lehman Brothers, but all three indices erased roughly 1% gains and turned lower after oil more than tripled its early gains in its final minutes of trade. Stocks then rebounded in late trade to end decently higher, but tensions remain high over the myriad of financial and economic problems facing the markets.

Among the big names making news in the market today were Lehman Brothers, Marriott, Fannie Mae and Freddie Mac, General Electric, Dow Chemical and Rohm & Haas, and Wal-Mart.

“August Gold finished up 13.4 at 942, 3.4 off the high and 13 up from the low.

September Silver closed up 0.145 at 18.32. This was 0.14 up from the low and 0.07 off the high.

With a big range up extension in August gold today in the face of a minor weakness in the US Dollar, would seem to suggest that something other than classic currency related forces were serving to boost prices. Clearly ongoing geopolitical uncertainty, concern for the pace of the US economy and recent concerns of trouble in US agency issues provided the gold bugs with a host of safe haven factors to choose from. In fact, with some US Administration sources suggesting that the US wasn't going to give Iran a pass on their ongoing violations of UN rules some traders were bracing for ongoing tensions off the Iranian situation. We also suspect that a recovery bounce in oil prices and suggestions from the Fed's Bernanke that the markets were still being presented with ongoing turmoil, suggests that anxiety levels could remain high off a number of angles.

Like the gold market, silver prices remained strong on Thursday and with gold, copper, platinum, Aluminum, zinc and lead, one gets the sense that some physical commodity markets are choosing to ignore of discount the prospect of physical demand deterioration. Certainly weakness in the Dollar and strength in the Dollar provided another angle for the silver bulls, but in the end one can't discount the argument that classic flight to quality concerns were the main catalyst for the bull camp.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.12 tonnes and the JSE added 0.86 tonnes.

Gold Fields’ (GFI) mine in Peru, Seabridge’s (SA) trading on the TSX, Centerra’s (CG.TO) output in Kyrgyzstan, Richmont’s (RIC) drilling, Orezone’s (OZN) debt facility, New Gold’s (NGD) Board and Management Appointments, and Hecla’s (HL) closed property sale 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.

Robex - Extension of the convertible debenture financing - More
- July 10, 2008 | Item | E-mail

First Gold Announces the Closing of Private Placements for an Amount of $667,000 - More
- July 10, 2008 | Item | E-mail

Clifton Star Drilling Encounters Wide Widths on Beattie-Donchester Mine Properties - More
- July 10, 2008 | Item | E-mail

Bonaventure Enterprises Inc.: K9 Winter Drill Results Point to Broader Intervals of Significant Uranium Mineralization - More
- July 10, 2008 | Item | E-mail

Constantine's First 2008 Drill Hole at Palmer Intersects Three Massive Sulphide Zones - More
- July 10, 2008 | Item | E-mail

Strathmore Continues to Develop Uranium Mill Design For its Projects in Northwest New Mexico - More
- July 10, 2008 | Item | E-mail

Seabridge Gold Announces Commencement of Trading on the TSX - "Seabridge Gold Inc. (the "Corporation") (CDNX:SEA.V - News)(AMEX:SA - News) announced today that it has received final listing approval from The Toronto Stock Exchange ("TSX") and its common shares will commence trading on TSX on the opening of the market on Monday July 14, 2008 under its current Canadian trading symbol "SEA". The last day of trading for the Corporation's common shares on the TSX Venture Exchange will be Friday July 11, 2008 and the Corporation's shares will be delisted from the TSX Venture Exchange on the opening of the market on Monday July 14, 2008." More
- July 10, 2008 | Item | E-mail

Positive Drill Results at Depth Continue at Victory Nickel's Minago Project - More
- July 10, 2008 | Item | E-mail

Belvedere discovers new mineralised zone at the Hitura Nickel Mine - More
- July 10, 2008 | Item | E-mail

Pediment Exploration Ltd.: First Los Planes Bottle Roll Testing Returns Up to 88.6% Gold Recovery - More
- July 10, 2008 | Item | E-mail

Palladon Announces Board Changes and New Hires - More
- July 10, 2008 | Item | E-mail

Palladon Ventures Ltd.: Iron Mountain Project Update - More
- July 10, 2008 | Item | E-mail

Gold Resource Corporation Intercepts Additional High-Grade With 3M of 31.72 g/t (1.02 oz/t) Gold Equivalent at Its El Aguila Project - More
- July 10, 2008 | Item | E-mail

Mr. Victor Lazarovici Joins Abacus Board: Financial News - Yahoo! Finance - More
- July 10, 2008 | Item | E-mail

Drilling begins at Ravin Molybdenum/Tungsten Property in Nevada - More
- July 10, 2008 | Item | E-mail

Silvermet Presents Technical Details of Its Cevmetco Waelz Kiln Project to the Turkish Authorities - More
- July 10, 2008 | Item | E-mail

Champion Minerals Initiates Field Exploration on Attikamagen Iron Property; Identifies Key "Taconite" or Magnetite-Rich Iron Formation - More
- July 10, 2008 | Item | E-mail

Tamerlane Reports 40.7% Combined Lead-Zinc Over 110 Feet (34 Meters) - More
- July 10, 2008 | Item | E-mail

Anvil Mining Limited announces approval in principle of C$296 million private placement - More
- July 10, 2008 | Item | E-mail

Benton Resources Corp. (BTC) receives $2 million at an effective 200% premium on exercise of a warrant by Stillwater Mining Company (SWC) - More
- July 10, 2008 | Item | E-mail

Kyrgyzstan H1 gold mine output below plan-minister - "Kyrgyzstan's largest industrial enterprise, the Kumtor gold mine developed by Canada's Centerra (CG.TO: Quote, Profile, Research, Stock Buzz), produced only 6 tonnes of gold in the first half of 2008, Economic Development Minister Akylbek Japarov told reporters.

This was well below the planned 8-9 tonnes." More
- July 10, 2008 | Item | E-mail

Puma Exploration: New Mineralized Lens Discovered at Nicholas-Denys - More
- July 10, 2008 | Item | E-mail

Golden Harp Resources secures drill for follow-up program on MC gold zone; completes extensive IP/Mag survey - More
- July 10, 2008 | Item | E-mail

Pershimco and Dia Bras Outline New Higher Grade Silver Zone at the San Miguel Mine, Cusi Mining District, Mexico - More
- July 10, 2008 | Item | E-mail

Virgin Metals Announces Mineral Resource at Cuatro Hermanos - More
- July 10, 2008 | Item | E-mail

Temex and Nuinsco complete Agreement and commence exploration on uranium properties - More
- July 10, 2008 | Item | E-mail

Dual Track Strategy for Imwauna Project Papua New Guinea - More
- July 10, 2008 | Item | E-mail

Nuinsco and Temex Complete Option and Joint Venture Agreement - More
- July 10, 2008 | Item | E-mail

Explor Restates Eastford Lake Gold Discovery Hole: Explor Drills 16.6 g/t Au Over 12.0 m on Eastford - More
- July 10, 2008 | Item | E-mail

Typhoon Explores Monexco, Opinaca, Cote-Nord and Fayolle - More
- July 10, 2008 | Item | E-mail

Yale Samples 24 M Grading 1.20 % Cu and 2.24 % Zn at Carol Property - More
- July 10, 2008 | Item | E-mail

Norsemont Mining Closes Private Placement - More
- July 10, 2008 | Item | E-mail

Dundee Precious Metals and Bulgarian Government Sign Memorandum of Understanding for Chelopech Expansion Project - More
- July 10, 2008 | Item | E-mail

Silk Road Resources Completes Transaction in Respect of Three Hemlo Properties - More
- July 10, 2008 | Item | E-mail

Uracan discovers up to 2.83 pounds per ton U3O8 over 41.7 feet in shallow diamond drilling in Saskatchewan - More
- July 10, 2008 | Item | E-mail

Yukon-Nevada Gold Corp. intersects 6.1 meters of 15 g/t gold at Jerritt Canyon, Nevada - More
- July 10, 2008 | Item | E-mail

Maestro Ventures Ltd.: Drilling Commences at Kings Canyon Gold Project - More
- July 10, 2008 | Item | E-mail

OroAndes Resource Corp.: Colombian Property Update and Options Grant - More
- July 10, 2008 | Item | E-mail

U3O8 Corp. Reports Significant Uranium Mineralization in Accori South - More
- July 10, 2008 | Item | E-mail

ATW Venture Corp.: Burnakura Core Drill Program to Resume - More
- July 10, 2008 | Item | E-mail

Tao Minerals Receives Tranche of $100,000 From Previously Announced Financing - More
- July 10, 2008 | Item | E-mail

Romios Commences Diamond Drilling Program and Awards Airborne Geophysical Survey Contract for Galore Creek Area Properties - More
- July 10, 2008 | Item | E-mail

Uranium Resources, Inc. Announces Resignation of Director George Ireland - More
- July 10, 2008 | Item | E-mail

Las Cruces Experiences Ground Movement at Process Residue Storage Facility - More
- July 10, 2008 | Item | E-mail

Lake Shore Gold Announces Economic Benefits Agreement for the Tipahaakaaning Gold Project - More
- July 10, 2008 | Item | E-mail

Northern Superior, Neskantaga First Nation Sign Historic Early Economic Benefits Agreement for the Ti-pa-haa-kaa-ning Gold Project - More
- July 10, 2008 | Item | E-mail

Paladin Energy Appoints New Chief Financial Officer - More
- July 10, 2008 | Item | E-mail

Augen Gold signs Exploration Agreement with the First Nations Partnership - More
- July 10, 2008 | Item | E-mail

Southwestern Increases Interest in Maxy Gold Corp. - More
- July 10, 2008 | Item | E-mail

Duluth Metals continues to intersect higher grade mineralization - More
- July 10, 2008 | Item | E-mail

Wave Uranium Discovers Additional Target Horizons on Grand County Properties - More
- July 10, 2008 | Item | E-mail

SAfrica's Gold Fields to expand Peru mine - report - "South Africa's Gold Fields (GFIJ.J: Quote, Profile, Research, Stock Buzz) will consider doubling the size of its $450 million Cerro Corona copper and gold project in Peru once the mine reaches full output in December, a newspaper said on Thursday." More
- July 10, 2008 | Item | E-mail

Significant Extension to Shirotnaia Gold Anomalies Discovered - More
- July 10, 2008 | Item | E-mail

Adanac Molybdenum Corp.: Drilling Encounters More Mineralization Adjacent to the Permitted Open Pit - More
- July 10, 2008 | Item | E-mail

Philex Gold Inc.: Clarifying Press Release - More
- July 10, 2008 | Item | E-mail

Richmont Mines to Start Drilling at the Golden Wonder Project - "Richmont Mines Inc.(Toronto:RIC.TO - News)(AMEX:RIC - News), a gold exploration, development and production company with operations in North America, today announced that it has completed the portal rehabilitation work at the Golden Wonder Project, located near Lake City, Colorado, and is proceeding with exploration efforts to identify new mineralized zones." More
- July 10, 2008 | Item | E-mail

Orezone Essakane Debt Facility Proceeds to Credit Approval - "Orezone Resources Inc. (Toronto:OZN.TO - News)(AMEX:OZN - News) is pleased to announce that Bayerische Hypo- und Vereinsbank AG, a member of UniCredit Group, ("HVB") and The Standard Bank of South Africa Ltd ("Standard Bank") have completed their technical due diligence and are proceeding to their respective credit committees for approval on providing a minimum of US$250million of project debt for Orezone's Essakane gold project in Burkina Faso, West Africa. It is anticipated that this process will take approximately three to five weeks." More
- July 10, 2008 | Item | E-mail

New Gold Announces Board and Management Appointments - "New Gold Inc. ("New Gold") (TSX and AMEX - NGD) is pleased to announce it held its first Board of Directors meeting following completion of the business combination of New Gold, Peak Gold Ltd. and Metallica Resources Inc. on July 8. At that meeting, Mr. James Estey was appointed as a Director and new management was appointed." More
- July 10, 2008 | Item | E-mail

Hecla Closes Venezuelan Gold Property Sale - "Hecla Mining Company (NYSE:HL) is pleased to announce that it has completed the transaction to sell its subsidiaries engaged in mining and exploring for gold in Venezuela to Rusoro Mining Ltd. (Rusoro) for $25 million, consisting of $20 million in cash and 4,273,504 shares of Rusoro common stock. The sale agreement was previously announced on June 19, 2008." More
- July 10, 2008 | Item | E-mail

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