Gold Seeker Closing Report: Gold and Silver Gain Over 4% and 3%

	Close	Gain/Loss
Gold	$757.25	+$30.20
Silver	$10.14	+$0.32
XAU	93.13	+14.78%
HUI	223.90	+14.80%
GDM	668.67	+15.32%
JSE Gold	1690.21	+53.76
USD	84.59	-1.66
Euro	130.32	+4.29
Yen	100.33	-0.49
Oil	$70.53	+$6.62
10-Year	3.765%	-0.139
T-Bond	115.359375	+1.815
Dow	9625.28	+3.28%
Nasdaq	1780.12	+3.12%
S&P	1005.75	+4.08%

Gold fell roughly 1% in Asia and then rallied back higher in London and New York to as high as $764.07 by about 11AM EST before it fell back off slightly in the last couple of hours of trade, but it still ended with an impressive gain of 4.15%. Silver rose to as high as $10.52 before it also fell back off a bit, but it still ended with a gain of 3.26%.

Euro gold rose to abut €583, platinum gained $27.50 to $842, and copper gained over 11 cents to about $1.95.

Gold and silver equities rose throughout the day and ended with about 15% gains.

Report	For	Reading	Expected	Previous
Factory Orders	Sep	-2.5%	-0.8%	-4.3%

Tomorrow at 8:15AM EST brings ADP Employment for October expected at -100,000 and at 10AM is the ISM Services report for October expected at 47.0.

Oil rose markedly as Saudi Arabia announced a production cut and several refiners announced some problems impacting their output.

The U.S. dollar index plummeted and treasuries rose on continued worries over the economy while an easing credit market urged market participants to put cash to work.

The Dow, Nasdaq, and S&P rose markedly as nothing emerged to disrupt the expected outcome of an Obama presidential victory.

Among the big names making news in the market today were Archer Daniels, Marvel, UBS, Osiris, and Google and Yahoo.

“December Gold closed up 30.5 at 757.3. This was 17.8 up from the low and 5.7 off the high.

December Silver finished up 0.38 at 10.13, 0.32 off the high and equal to the low.

The gold market was initially lifted by overt weakness in the Dollar. While the Dollar continued to decline, the gold market seemed to draw increased buying from a tempering of deflation and a tempering of the fear of too much slowing. Certainly seeing the Dollar slide, equity prices rise sharply and then seeing energy prices soar created a definitively supportive market environment but in the end the bull angles were coming from a number of different sources. Clearly gold was behaving like a physical commodity market and despite the weaker than expected US Factory Orders figures, the trade was simply not going to fret over the slowing threat in the lead up to the election results.

Like the gold market, the silver market was seemingly lifted from a number of different sources. Clearly the sharp slide in the Dollar seemed to start the upward tilt in prices early, but as the equity market gained upside momentum the silver market seemed to be lifted by a broader based macro economic optimism.”- The Hightower Report, Futures Analysis and Forecasting

Gammon Gold’s (GRS) production improvements, Claude Resources’ (CGR) asset sale, Royal Gold’s (RGLD) first quarter results, ITH’s (THM) exploration results, Northgate’s (NXG) third quarter results, ECU Silver’s (ECU.TO) and Golden Tag’s (GOG.V) drill results, Scorpio’s (SPM.TO) operations update, and Hecla’s (HL) third quarter 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.

Duncan Park Announces Private Placement of up to $300,000 - More
- November 04, 2008 | Item | E-mail

ICS pauses for strategic review - More
- November 04, 2008 | Item | E-mail

Darnley Bay Resources Limited: Private Placement-Debt Conversion and Corporate Update - More
- November 04, 2008 | Item | E-mail

Gammon Gold Announces a 29%, 23% and a 22% Improvement In Gold, Silver and Gold Equivalent Consolidated Production for Q3 2008 Over Q3 2007 - "Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): is pleased to announce that despite the third quarter Mexican rainy season and the planned fewer ounces in production associated with the rainy season that typically impacts the heap leach facility, the mitigation strategies implemented at Ocampo were very effective and resulted in a total gold production improvement of 29% to 34,096 ounces as compared to 26,444 ounces in Q3 2007." More
- November 04, 2008 | Item | E-mail

Southern Hemisphere Mining Limited: Exploration Drilling Results and Sampling at the San Jose Project - More
- November 04, 2008 | Item | E-mail

Silvermet Signs Agreement to Acquire Metoks Zinc Processing Facility in Turkey - More
- November 04, 2008 | Item | E-mail

Claude Resources Announces Agreement To Sell Certain Oil and Natural Gas Assets - "Claude Resources Inc. ("Claude", the "Company") announces that it has entered into a Purchase and Sale Agreement with a private Canadian corporation (the "Purchaser"), pursuant to which the Purchaser has agreed to purchase a majority of the oil and natural gas assets owned by Claude. If all of the assets subject to the Purchase and Sale Agreement are ultimately sold to the Purchaser, the purchase price will be $19.4 million." More
- November 04, 2008 | Item | E-mail

Ontex Resources Limited Announces Intention to Undertake Normal Course Issuer Bid - More
- November 04, 2008 | Item | E-mail

Installation and Operation of Mill on Globex's Russian Kid Gold Royalty Property Proceeds - More
- November 04, 2008 | Item | E-mail

Platmin BEE partner, the Moepi Group, repays USD 15m loan - More
- November 04, 2008 | Item | E-mail

Atomic Minerals Ltd. : Tanzania projects - Exploration update - More
- November 04, 2008 | Item | E-mail

Temex and Nuinsco commence exploration on uranium project - More
- November 04, 2008 | Item | E-mail

ECU Silver and Golden Tag Cut Additional Massive Sulphides at San Diego - "ECU Silver Mining Inc. (Toronto:ECU.TO - News) ("ECU") and Golden Tag Resources Ltd. (CDNX:GOG.V - News) ("Golden Tag") are pleased to report that they have intersected additional Massive Sulphide mineralization (the "MS Zone") on the joint venture San Diego Property. The drill-hole SD-07-21A intercept is particularly significant as it represents the richest and widest intercept that has been drilled on the San Diego Property to date. The MS Zone yielded 437 grams per tonne (g/t) silver (Ag), 10.3% lead (Pb) and 11.8% zinc (Zn) over a core length of 5.9 metres (19 feet), at a depth of 600 metres (1,970 feet) below surface (see Table 1 below)." More
- November 04, 2008 | Item | E-mail

Southern Hemisphere Mining Identifies Manganese Opportunities in Northern Chile - More
- November 04, 2008 | Item | E-mail

Rocmec Obtains its Certificate of Authorisation for its Underground Treatment Plant and Closes Private Placement With the MineralFields Group - More
- November 04, 2008 | Item | E-mail

Etruscan's Youga Gold Mine pours 7,450 ounces in October - More
- November 04, 2008 | Item | E-mail

Geoinformatics Announces New Discovery At Its Whistler Project in Alaska - More
- November 04, 2008 | Item | E-mail

Romarco Intercepts 98 m of 4.9 g/t at Haile, Continues Expansion of Zone to North - More
- November 04, 2008 | Item | E-mail

Fortune adopts Shareholder Rights Plan - More
- November 04, 2008 | Item | E-mail

Cadiscor Acquires the Dormex Property From IAMGOLD - More
- November 04, 2008 | Item | E-mail

International Barytex Resources Ltd. Signs Sales Agreement on Shituru Project - More
- November 04, 2008 | Item | E-mail

Purepoint Uranium Group Inc: Drill Results at Smart Lake Prompt Extension of Program - More
- November 04, 2008 | Item | E-mail

VMS Enters Into a Letter of Intent for the Acquisition of Reed Lake Claims With W. Bruce Dunlop Ltd. - More
- November 04, 2008 | Item | E-mail

Carpathian Drilling intersects 8 m of 6.95 g/t Au on the RDM Gold Project, Brazil - More
- November 04, 2008 | Item | E-mail

Gabriel Resources Ltd: 2008 Third Quarter Report - More
- November 04, 2008 | Item | E-mail

Memorandum of Understanding Signed With Nahanni Butte Dene Band, Nahanni Butte NT - More
- November 04, 2008 | Item | E-mail

Sherwood Reports New Copper-Gold Discovery at Minto Mine and Possible Linkage to Area 2 - More
- November 04, 2008 | Item | E-mail

Scorpio Provides October Operations Update on Nuestra Senora Mine, Mexico - "Our Nuestra Senora operation continues to increase concentrate production and delivery to its various off-take partners in an aggressive mandate to attain consistent, positive cash flow. The milling operation has now depleted the low-grade stockpile No.2 ore, which was excavated during the early mine development and stockpiled for purposes of bringing the plant on line." More
- November 04, 2008 | Item | E-mail

Royal Gold Reports Fiscal First Quarter 2009 Results and Restatement of Fiscal 2008 Financial Statements - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; TSX: RGL - News), the leading precious metals royalty company, today announced fiscal first quarter 2009 net income of $5.8 million, or $0.17 per basic share, on royalty revenue of $16.1 million. This compares to net income for the first quarter of fiscal 2008 of $5.5 million, or $0.19 per basic share, on royalty revenue of $12.5 million." More
- November 04, 2008 | Item | E-mail

Hecla Reports Third Quarter Results, Increases Silver Production by 88% - "Hecla Mining Company (NYSE:HL - News) today reported a net loss of $3.8 million for the third quarter of 2008 compared to net income of $13 million for the same period of 2007. Hecla reported a loss applicable to common shareholders of $7.2 million, or 5¢ per share, for the third quarter of 2008, compared to income applicable to common shareholders of $12.3 million, or 10¢ per share, for the third quarter of 2007." More
- November 04, 2008 | Item | E-mail

ITH Expands Chisna Porphyry Copper-Gold Belt With Multiple New Discoveries - "International Tower Hill Mines Ltd. ("ITH" or the "Company") (CDNX:ITH.V - News)(NYSE-A: THM)(Frankfurt:IW9.F - News) is pleased to announce the results of its 2008 summer exploration program on the Chisna Copper-Gold Project in Alaska. Stream sediment surveys have now defined a 40 square kilometre area of anomalous copper and gold mineralization in the POW-Ptarmigan area, with values up to 4% copper and 13 g/t gold (Table 1)." More
- November 04, 2008 | Item | E-mail

Northgate Reports Third Quarter 2008 Financial and Operating Results - "Northgate Minerals Corporation (TSX: NGX; NYSE ALTERNEXT US/AMEX: NXG) today reported the financial and operating results for the third quarter ended September 30, 2008. The net loss for the quarter was $29,438,000 or $0.12 per diluted common share, which includes a charge of $16,912,000 to recognize an other than temporary decline in the value of the Corporation's auction rate securities investments and a mark-to-market hedging gain of $22,984,000 on the Corporation's copper forward contracts." More
- November 04, 2008 | Item | E-mail

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