Gold Seeker Closing Report: Gold and Silver Gain Over 2%

	Close	Gain/Loss
Gold	$825.20	+$16.80
Silver	$14.79	+$0.345
XAU	149.08	+5.85%
HUI	342.17	+5.46%
GDM	1038.13	+6.01%
JSE Gold	1840.88	+115.04
USD	76.28	+0.16
Euro	149.21	UNCH
Yen	91.30	-0.20
Oil	$116.00	+$2.99
10-Year	3.947%	+0.029
T-Bond	116.078125	-0.421875
Dow	11532.96	-0.94%
Nasdaq	2428.62	-0.08%
S&P	1285.82	-0.29%

Gold rose to about $825 and silver rose to $14.88 by late trade in Asia before both metals fell back near unchanged in London, but they then rallied back higher in New York and ended near their new session highs of $829.60 and $14.917 with gains of 2.08% and 2.39%.

Euro gold rose to about €553, platinum gained $35 to $1506.50, and copper gained over 13 cents to about $3.37.

Gold and silver equities rose over 5% by late morning and remained near their highs into the close.

Report	For	Reading	Expected	Previous
Import Prices	July	1.7%	1.0%	2.9%
Import Prices ex-oil	July	0.9%	-	0.9%
Export Prices	July	1.4%	-	1.0%
Export Prices ex-ag.	July	0.8%	-	0.9%
Retail Sales	July	-0.1%	-0.1%	0.1%
Retail Sales ex-auto	July	0.4%	0.5%	0.8%
Business Inventories	June	0.7%	0.6%	0.3%

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 8/09 expected at 436,000, CPI for July expected at 0.4%, and Core CPI expected at 0.2%.

Oil rose after an unexpectedly large drop in gasoline inventories. Crude inventories fell 400,000 barrels, gasoline inventories fell 6.4 million barrels, and distillates fell 1.7 million barrels.

The U.S. dollar index rose slightly as the yen fell on Japan’s report showing economic contraction in the second quarter and the Pound fell after England reported an increase in the jobless rate.

Treasuries rose at the open as the Dow, Nasdaq, and S&P fell for most of trade on more financial worries, the poor Retail Sales report, and the rise in oil prices, but stocks ended off of their lows and bonds turned lower by the close on optimism over the tech sector.

Among the big names making news in the market today were Liz Claiborne, Warner Music, Macy’s, and Deere.

“Welcome back to the Bretton Woods Agreement: Currency Bands Modernized and Revitalized.

It is so transparent that you would have to be blind not to see it. Today, Jean-Claude Trichet, the European Central Bank president, returned to his strategy statement that inflation was a more compelling issue for the ECB than the level of economic activity.

The majority of the last three generations of currency traders make their market decisions based on anticipated interest rate differentials. The Euro was muscled off the near $1.60 level by more than $10 billion in currency market intervention, along with Trichet's verbal intervention stating that the economic environment might take precedent over inflation. Today as he reverses himself by making inflation the primary concern, more intervention is taking place to make the Euro look weak in the face of a statement that should have the opposite impact.

Now you have the Euro "verbal currency band" reinstated at a low of $1.49 and a high of $1.60. Alarms have now been put in place in the Euro that will scream like a siren when violated. The Euro trading above $1.60 will clearly show that Central Bank power has been overcome by market action.”- Jim Sinclair, JSMineset.com

“December Gold finished up 16.9 at 831.5, 3 off the high and 10.1 up from the low.

September Silver closed up 0.36 at 14.845. This was 0.345 up from the low and 0.005 off the high.

Seeing the gold market rebound in the face of residual Dollar strength had to frustrate some of the bears. However, a sharp rise in energy and grain prices seemed to vastly improve the macro economic outlook toward physical commodity prices, which seem to have survived the 8th major "end of the bull market" call for the year. Certainly seeing the potential for geopolitical escalation of the Russia/Georgia situation is cause for some flight to quality buying interest and certainly seeing the US stock market under aggressive pressure added to that angle, but in the end seeing big gains in several unrelated markets has to favor the bull camp.

While silver prices rose smartly they still appeared to lag behind the action in gold and copper. However, against a very aggressive across the board run up in grain prices and the sharp rise in energy prices, it wasn't surprising for silver to garner some spillover buying. In fact, the magnitude of the gains in copper prices on Wednesday and the strength in the gold market had to leave some traders with the impression that the metals were benefiting from something other than simple technical short covering.”- The Hightower Report, Futures Analysis and Forecasting

Great Basin’s (GBN) trial mining, Exeter’s (XRA) metallurgical recoveries, Kimber’s (KBX) private placement, Seabridge’s (SA) drill results, Great Panther’s (GPR.TO) second quarter results, and Pan American’s (PAAS) quarterly 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.

Great Panther Achieves 488% Increase in Earnings From Mining Operations - "488% increase in earnings from mining operations(1) to $1.8 million in the second quarter 2008 from $0.3 million for the second quarter 2007." More
- August 13, 2008 | Item | E-mail

Opawica Explorations Inc. Announces Atikwa Lake Drill Results - More
- August 13, 2008 | Item | E-mail

Gold Bullion Development Corp. - Press Release - More
- August 13, 2008 | Item | E-mail

Gryphon Gold Announces Financial Results for 1st Quarter Ended June 30, 2008 - More
- August 13, 2008 | Item | E-mail

Talon Metals reports second quarter 2008 results - More
- August 13, 2008 | Item | E-mail

Andean Resources Hires Argentina Country Manager - More
- August 13, 2008 | Item | E-mail

Mantis Mineral Corp. reports high-grade extension of original Orphan Gold Mine - More
- August 13, 2008 | Item | E-mail

J-Pacific Releases Technical Report and Drill Data on the Elizabeth Southwest Gold Vein - More
- August 13, 2008 | Item | E-mail

Cameco shares sink others rise on Cigar Lake flood - More
- August 13, 2008 | Item | E-mail

Exploration Puma: More Holes Intersect the New Lens Between the Shaft and Hache Lenses - More
- August 13, 2008 | Item | E-mail

Further change of directors and officers of Royal Roads - More
- August 13, 2008 | Item | E-mail

Vena Acquires 100% of Coal Company in Peru and Provides Development Plans for Peruvian Anthracite Coal Market - More
- August 13, 2008 | Item | E-mail

Golden Eagle Purchases Additional Equipment to Expand C Zone Gold Mill - More
- August 13, 2008 | Item | E-mail

Ur-Energy Announces Quarterly Conference Call - More
- August 13, 2008 | Item | E-mail

Zaruma Resources reports on Second Quarter 2008 - More
- August 13, 2008 | Item | E-mail

EXMIN-Yale Begin Third Year of JV And Sample 441 g/t Silver Over 2.35 Metres at the Rosario Area, Urique Project - More
- August 13, 2008 | Item | E-mail

Premier Discovers Second High Grade Gold Zone at Santa Teresa - More
- August 13, 2008 | Item | E-mail

Heap Leach Amenability Tests Show 94% to 97% Extractions for Gold at Lydian's Amulsar Discovery - More
- August 13, 2008 | Item | E-mail

Silver Reserve Corp. - New acquisition planned - More
- August 13, 2008 | Item | E-mail

SearchGold Reports an Open Pit Gold Reserve of 150,000 Ounces of Gold Included in a New Resource Estimate of 230,000 Ounces of Gold for Bakoudou-Magnima Pro - More
- August 13, 2008 | Item | E-mail

Laurion Mineral Exploration and Geoinformatics Exploration Announce Assay Results From Midlothian Project in Ontario - More
- August 13, 2008 | Item | E-mail

Mazorro Acquires Option to Earn 100% Interest in La Verdosa & Los Arrayanes - More
- August 13, 2008 | Item | E-mail

Ontex Resources: Continuation of the 8,000 Metre Diamond Drill Program - More
- August 13, 2008 | Item | E-mail

Uranium Energy Corp to Commence Drilling at Nichols Project in South Texas - More
- August 13, 2008 | Item | E-mail

Peregrine Metals Reports Independent Resource for Altar Porphyry Copper Project - More
- August 13, 2008 | Item | E-mail

Hawk Receives Additional Gold and Silver Results From Surface Sampling of the Soocana Vein, Holdsworth Gold Project, Northern Ontario - More
- August 13, 2008 | Item | E-mail

Constellation Copper reports second quarter 2008 financial results - More
- August 13, 2008 | Item | E-mail

HuntMountain Drilling Extends High-Grade Zone at La Josefina Gold-Silver Project - More
- August 13, 2008 | Item | E-mail

Denison Mines Corp. Reports Second Quarter Earnings - More
- August 13, 2008 | Item | E-mail

Uranium One Announces Results for Q2 2008 and Appoints Jean Nortier as CEO - More
- August 13, 2008 | Item | E-mail

Uruguay Mineral Exploration Inc.: Chairman's and CEO's Reports from Annual Report and Accounts 2007/08 - More
- August 13, 2008 | Item | E-mail

Uruguay Mineral Exploration: Appointment of Finance Director / Chief Financial Officer and Nomination for Election of Directors - More
- August 13, 2008 | Item | E-mail

Uruguay Mineral Exploration - Drilling Update - More
- August 13, 2008 | Item | E-mail

Cambridge Mineral Resources plc: Rasuhuilca Silver-Gold Feasibility Study Shows Positive Project Parameters - More
- August 13, 2008 | Item | E-mail

Uruguay Mineral Exploration Announces Results for Fiscal Year 2008 - More
- August 13, 2008 | Item | E-mail

Great Basin Gold Commences Trial Mining on Gwenivere and Clementine High Grade Veins at Hollister Project in Nevada - "One of the highlights of the period was the commencement of trial stoping on the Gweniviere and Clementine veins at the Hollister Development Project. A total of 16,128 tons has been mined, year-to-date, and 8,643 dry tons at a head grade of 0.975 oz/t (33.4 g/t) of gold and 9.6 oz/t (329.1 g/t) of silver have been milled from which a net of 8,714 gold equivalent ounces(1) were recovered. A total of US$7.8 million was recognized as revenue from trial mining activities at the Hollister Development Project." More
- August 13, 2008 | Item | E-mail

Exeter Resource Corporation: Cerro Moro Metallurgy Indicates 90% Recoveries for Both Gold and Silver From High-Grade Mineralization - "Exeter Resource Corporation (CDNX:XRC.V - News)(XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") reports that metallurgical recoveries averaging 99% for gold and 92% for silver have been obtained from recent testwork. The testwork was conducted on representative composite samples taken from four of the most important high grade mineralized zones at its Cerro Moro project in Santa Cruz Province, Argentina." More
- August 13, 2008 | Item | E-mail

Kimber announces non-brokered private placement - "Kimber Resources Inc. (AMEX:KBX, TSX:KBR) today announced that it plans to complete a non-brokered private placement of up to 4,000,000 units at $1.25 per unit to raise $5 million, subject to a possible oversubscription of up to an additional $1 million on the same terms The net proceeds of the private placement will be used for further exploration of the Company's Monterde, Pericones and Setago properties, advancement of the Carmen deposit at Monterde and general corporate purposes." More
- August 13, 2008 | Item | E-mail

New Drill Results Confirm and Extend Seabridge Gold's KSM Project - "Seabridge Gold (Toronto:SEA.TO - News)(SA - News) announced today the results of the first nine drill holes from this summer's program at its 100% owned Kerr-Sulphurets-Mitchell ("KSM") project, located near Stewart, British Columbia, Canada. These first holes were primarily drilled on the eastern side of the Mitchell zone to upgrade inferred resources and to explore for a possible down-dip extension to the northeast. The infill drilling encountered better grades and thicknesses than predicted by the resource model while the exploration drilling found that better grades on the down-dip extension plunge to the west." More
- August 13, 2008 | Item | E-mail

Pan American Increases Silver Production Again and Delivers Record Operating Cash Flow - "We increased silver production again, posted a new quarterly record for operating cash flow and recorded substantial bottom line income for the ninth consecutive quarter. We remain well positioned to deliver yet another year of record silver production and record earnings. Pan American now expects to produce 18.8 million ounces of silver in 2008 and 25 million ounces of silver in 2009." More
- August 13, 2008 | Item | E-mail

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