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Gold Seeker Closing Report: Gold and Silver Gain Nearly 3% While Stocks Fall Roughly 4%

By: Chris Mullen, Gold-Seeker.com


-- Posted 17 February, 2009 | | Source: SilverSeek.com

 

 

Close

Gain/Loss

Gold

$966.90

+$26.70

Silver

$14.00

+$0.37

XAU

131.73

+0.65%

HUI

319.19

+2.58%

GDM

1015.23

+3.27%

JSE Gold

2878.60

+189.88

USD

87.59

+1.57

Euro

126.08

-2.72

Yen

108.30

-0.43

Oil

$34.93

-$2.58

10-Year

2.662%

-0.220

T-Bond

129.34375

+3.0625

Dow

7552.60

-3.79%

Nasdaq

1470.66

-4.15%

S&P

789.17

-4.56%

 
 

 

The Metals:

 

Gold and silver traded mixed and near unchanged over the President’s Day holiday on Monday, but they then climbed steadily higher throughout trade in Asia, London, and New York on Tuesday and gold ended near its high of $974.02 with a gain of 2.84% while silver ended near its high of $14.212 with a gain of 2.71%.

 

Euro gold rose to a new record high of €768, platinum gained $28 to $1085, and copper fell roughly 12 cents to about $1.42.

 

Gold and silver equities rose roughly 5% by early afternoon before they fell back off a bit into the close, but they still ended with roughly 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Empire State Mfg.

Feb

-34.65

-23.75

-22.2

Net Long-Term TIC Flows

Dec

$34.8B

$20.0B

-$25.6B

 

“President Barack Obama on Tuesday signed a massive $787 billion package to revive the economy, saying the measure represented the "essential work of keeping the American dream alive in our time."  The stimulus plan of spending programs and tax cuts is at the heart of Obama's effort to turn the economy back into a job-creating machine. It comes with a huge price tag for taxpayers and lingering doubts about whether the plan's results will match all the lofty promises that its supporters have made.”

 

Tomorrow at 8:30AM EST brings Building Permits for January expected at 525,000, Housing Starts expected at 530,000, and Export and Import Prices.  At 9:15 is Capacity Utilization expected at 72.4% and Industrial Production expected at -1.5% and at 2PM is the release of the minutes from the FOMC’s January 28th meeting.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil fell almost 7% to under $35 on increased worries over waning demand.

 

The U.S. dollar index and treasuries rose on safe haven buying and the view that the US is not as bad off as the rest of the world while the Dow, Nasdaq, and S&P fell over 3% on worries that the recession may be worsening and that the stimulus and bailout packages will not be able to save the banking system.

 

Among the big names making news in the market today were Stanford, GM, Chrysler, American Express, Wal-Mart, Penske Auto, Starbucks, and Trump Entertainment.

 

U.S. regulators accused R. Allen Stanford of running a “massive, ongoing fraud” through his Houston-based Stanford Group Co. while selling about $8 billion in certificates issued by an affiliated bank in Antigua.

 

Stanford International Bank touted “improbable, if not impossible” returns, the Securities and Exchange Commission said today in a complaint against Stanford, firms he controls and two colleagues. A federal court in Dallas agreed to freeze assets and appoint a receiver to account for investor money.”

 

The Commentary:

 

Dear Extended Family,

 

I sent you a certain few emails that I consider to be the most important communications issued in my career that started in 1958.

 

I am the son of what I know to have been the greatest Lone Wolf trader in Wall Street history ever, Bertram J. Seligman. He was a past master at his business and believed to be a market sensitive. I apprenticed to him, learned from him and inherited some of his ability, not all however.

 

From this background of experience understanding and sensitivity the following flows.

 

The emails of note:

 

1. Said, "This is it."

2. Said, "It is now."

 

This communication is to inform you as of 2/13/09, "It is totally out of control." There is no longer any means of reversal of the beginning of the final phase of the downward spiral now solidly set in motion.

 

For your sake, protect yourselves immediately.

 

Be prepared for disruptions in distribution common to hyperinflation.

 

1. You should have already distanced yourself from your financial agents. If you haven’t you are headed for significant displeasure and strain.

2. Make sure you stay three months ahead on necessary items that could experience distribution delays such as prescribed medicine and preferred foods.

3. Even though real estate is far from a buy, if you can afford a second home outside of major cities it would serve a good purpose.

4. Own gold.

5. Consider that good gold shares of non-US companies incorporated in a non-US country operating in third country, traded on multiple exchanges are a means of money expatriation legally and in broad daylight if required.

6. For currencies, all you can do is own a spread held by a true custodial ship wherever that might be.

 

Simply said, as of Friday February 13th, 2009 the situation is in confirmed "Out of Control" mode as this well engineered downward spiral enters into a terminal phase.

 

The motive was profit and degree of the disintegration caused in the pursuit of this goal was not anticipated.

 

The key event was when Lehman was flushed - all hell broke loose. The hell cannot be contained in any practical manner.

 

I seek nothing of you, but the protection of yourselves.

 

Respectfully yours,”- Jim Sinclair, JSMineset.com

 

Dear CIGAs,

 

New all-time record highs were once again set in gold priced in both British Pound and in Euro terms at today’s London PM Fix. Gold priced in sterling terms came in 678.584 while euro priced gold was set at €766.976. It would appear that the former is making a run at 700 while the latter looks to be targeting €800. I have not yet had a chance to calculate the Canadian Dollar or Australian Dollar priced gold but it looks pretty certain that both of those have also set brand new all-time record highs as well. Meanwhile US Dollar priced gold hit a seven month high!

 

Fears concerning the former Soviet block countries of Eastern Europe were enough to send the Forex markets in convulsions overnight and into this morning with gold soaring upwards on fears of potential currency collapses in that region. Also, many European-based banks appear to be holding much of the debt of those nations and with default a real possibility, no one wants to own the Euro. The Dollar is winning by default (even the Yen got dumped this morning) but that is relative when you consider that it too continues to fall when measured against the gold price.

 

There was also further word out of Russia’s Central Bank that they intend to continue buying gold as part of their reserves in 2009. While the news was not particularly surprising, it did reinforce the notion that Central Banks are increasingly seen selling less and less gold moving forward. The market liked the news.

 

Meanwhile the stock market and the bond markets gave their vote on the Obama administration’s spending free for all, also known as the stimulus package. Stocks collapsed with the usual lemming-like response of a flight into the “safety” of Treasuries. Yep – those look mighty safe to me. Then again, they might make good kindling although I am sure the tree huggers would complain about burning all that paper.

 

Maybe bond buyers could add some of those California bonds to their portfolio. Those should be great performers considering that the state is $42 billion in the red. What a mess the politicians have made of the Golden State. To add some insult to the mix, the polls in Oregon are proposing at 1900% tax increase of a barrel of beer made in that state. Now Oregonians won’t even be able to afford a cold beer to help take their minds off of the mess that the country has become. Between Governor Schwarzenegger’s proposed tax on a round of golf, plus the beer tax, it looks to me like anything remotely resembling relaxation or recreation is going to end up becoming more like a luxury. I do not know which is worse, the fools that are elected to office or the people who voted them there. My advice to the young people out there is to plan a career either in meteorology or in politics. No matter how bad you mess up you always have job security. Barring that, become a US Marshall – you will stay quite busy entering the offices of financial entities as you seek to track down fraud.

 

Gold equities, aka, the mining shares, completely separated themselves from the stock selling orgy and shot strongly higher with both the HUI and the XAU pushing through last week’s highs. Technically many issues within this sector now have broken out on their weekly charts bettering the swing highs made late last year and look to be setting up strong trending moves. It is becoming obvious that gold is increasingly being viewed as one of the only true safe havens out there and many are looking seriously at the mining sector as a viable avenue of refuge from the economic storm.  That is proving to make life quite difficult for the perma shorts in the mining sector. The XAU is trading right in the proximity of the 50% retracement level from the March 2008 peak and the October 2008 low. Technically, this is a significant resistance barrier so if the index can push through this level and hold those gains for the rest of the month, it will qualify as solid technical breakout on the long term monthly chart especially since that level near 137 is also quite close to the 50 month moving average. Stay tuned.”- Dan Norcini, More at JSMineset.com

 

“April Gold closed up 25.3 at 967.5. This was 4.5 up from the low and 6.5 off the high.

 

March Silver finished up 0.385 at 14.01, 0.03 off the high and 0.04 up from the low.

 

The gold market initially managed a pulse up above the $975 level but then gave back some of the gains around mid session. In fact at one point in early afternoon the April gold contract was as much as $8.40 an ounce below the highs. Nonetheless the gold market remained generally strong throughout most of the trading session. Surprisingly the gold market wasn't lifted by the fact that the NAHB Housing Index reading wasn't as soft as some expectations. In the end, with a host of physical commodity markets sharply lower during the trade its clear that flight to quality concerns were taking precedence over the threat of deflation. Weakness in the equity markets clearly contributed to the strength in gold which could easily have been undermined by the overt strength in the US Dollar.

 

The silver market remained well bid throughout the trade session but like the gold market it also fell back off its late morning highs. In fact, at times in early afternoon the March silver contract had fallen by as much as 22 cents off its highs. While the silver market has been partially held back because of weakness in copper prices and other physical commodity markets, the gains Tuesday were still pretty impressive.”- The Hightower Report, Futures Analysis and Forecasting

 

GATA Posts:

 

 

Chinese gather up mining resources abroad

Ted Butler: Only one silver seller left?

William Rees-Mogg: In crisis never forget value of gold

James Turk: Gold and silver break through resistance

Peter Brimelow: Something still stirring in precious metals pond

Ambrose Evans-Pritchard: If Eastern Europe falls, world is next

China bank regulator clarifies, says U.S. bonds are not only option

Mumbai's Daily News and Analysis interviews James Turk

 

The Statistics:

As of close of business: 2/13/2009

Gold Warehouse Stocks:

8,428,990

-32

Silver Warehouse Stocks:

124,339,571

+228

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchage (TSE) AND Hong Kong Stock Exchange (HKEx)

SPDR® Gold Shares

985.86

31,696,381

US$ 29,648m

London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse )

Gold Bullion Securities

131.81

4,237,869

US$ 4,113m

Australian Stock Exchange (ASX)

Gold Bullion Securities

12.49

400,521

US$ 390m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

28.63

920,379

US$ 867m

Note: Change in Total Tonnes from Friday’s data: SPDR added 15.29 tonnes to a new record high holding and the LSE added 0.45 tonnes.

 

COMEX Gold Trust (IAU)

Profile as of 2/13/2009

 

Total Net Assets

$2,112,272,487

Ounces of Gold
in Trust

2,243,824.921

Shares Outstanding

22,800,000

Tonnes of Gold
in Trust

69.79

Note: No change in Total Tonnes from yesterday’s data.

 

Silver Trust (SLV)

Profile as of 2/13/2009

 

Total Net Assets

$3,269,312,448

Ounces of Silver
in Trust

244,567,291.900

Shares Outstanding

247,950,000

Tonnes of Silver
in Trust

7,606.89

Note: No change in Total Tonnes from yesterday’s data.

 

The Stocks:

 

Minco’s (MGH) drill results, ITH’s (THM) increased bought deal equity financing, Timberline’s (TLR) first quarter financial results and corporate update, Claude’s (CGR) drill results, Paramount’s (PZG) acquired mining concessions, First Majestic’s (FR.TO) updates, Sabina’s (SBB.V) exploration program, International Minerals’ (IMZ.TO) production, Silvercorp’s (SVM) trading on the NYSE Alternext, and Avino’s (ASM.V) year end summary and 2009 outlook were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Golden Star

GSS+16.67% $1.82

2.  Minefinders

MFN+15.88% $5.62

3.  US Gold

UXG+13.89% $2.46

 

LOSERS

1.  Freeport

FCX -11.11% $27.12

2.  Anglo American

AAUK -7.45% $8.69

3.  International Royalty

ROY -4.85% $1.57

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

All of today's gold and silver stock news:

Majescor Closes Private Placement, Announces Additional Offering - More
- February 17, 2009 | Item | E-mail


Continent Intersects 600 Feet of 0.20% Oxide Copper at Lone Mountain, New Mexico - More
- February 17, 2009 | Item | E-mail


Clifton Star Resources Inc.: Corporate Update - More
- February 17, 2009 | Item | E-mail


Golden Dawn Minerals Inc. Announces Non-Brokered Private Placement - More
- February 17, 2009 | Item | E-mail


Champion Minerals Completes Initial Drilling at Powderhorn-Gullbridge VMS Projects in the Buchans Mining Camp - More
- February 17, 2009 | Item | E-mail


Cangold Announces $300,000 Financing - More
- February 17, 2009 | Item | E-mail


Explor Starts Drilling PG 101 Gold Property - More
- February 17, 2009 | Item | E-mail


Pediment Exploration Ltd.: 4.6 m of 10.1 g/t Gold & 323 g/t Silver Confirm Highgrade Potential at La Colorada - More
- February 17, 2009 | Item | E-mail


Vulcan Minerals Inc.: Flat Bay Core Drilling Commences - More
- February 17, 2009 | Item | E-mail


Drilling Extends Shaft Zone Gold Mineralization at Houston Lake Mining's Dubenski Property - More
- February 17, 2009 | Item | E-mail


Kinbauri Grants Incentive Options - More
- February 17, 2009 | Item | E-mail


Geovic Announces the Appointment of Barbara A. Filas as Senior V.P., Corporate Development - More
- February 17, 2009 | Item | E-mail


Eurasian Minerals Inc. Drills 6.1 Meters Averaging 6.0 g/t Gold at Elmali, Turkey - More
- February 17, 2009 | Item | E-mail


Eastmain Resources Inc.: Definition Drilling Continues At Eau Claire - More
- February 17, 2009 | Item | E-mail


New Assays, Improved Interpretation of Mineralized Zones at GWR Resources' Lac La Hache Property - More
- February 17, 2009 | Item | E-mail


Timmins Gold Intersects 1.30 g/t Gold and 13 g/t Silver Across 37.5 meters From Surface at Cocula Project, Mexico - More
- February 17, 2009 | Item | E-mail


SLAM launches diamond drilling program at TSN - More
- February 17, 2009 | Item | E-mail


Temex reports gold results Hallnor Property, Timmins Gold Camp - More
- February 17, 2009 | Item | E-mail


Premier-Roxmark intersects high-grade gold at Hardrock Project - Up to 2870 g/ton (92.27 opt) across 0.30 metres - More
- February 17, 2009 | Item | E-mail


Goldeye: Diamond Drill Hole H-33 Intersects 4 g/t Au Over 17.5 m and Hole H-34 Intersects 2.59 g/t Au Over 29.4 m at Hydro Creek Tyrrell Twp., N. Ontario - More
- February 17, 2009 | Item | E-mail


White Foil Set to Become La Mancha's Fourth Producing Mine - More
- February 17, 2009 | Item | E-mail


Olympus Seeks Approval to Continue Toll Treating Phuoc Son High Grade - More
- February 17, 2009 | Item | E-mail


Chancery Resources Reports Update in Operations - More
- February 17, 2009 | Item | E-mail


Unico, Inc. Announces In-House Evaluation of Historical Data Regarding Tellurium Levels at the Deer Trail Mine - More
- February 17, 2009 | Item | E-mail


Buffalo Gold Announces Changes to the Board of Directors - More
- February 17, 2009 | Item | E-mail


Pacific North West Capital Corp. announces acquisition of the Nixon Fork gold mine in central Alaska - More
- February 17, 2009 | Item | E-mail


Carpathian Drilling Intersects 21.8 m of 2.91 g/t Au, Including 1.8 m of 22.0 g/t Au on the RDM Gold Project, Brazil - More
- February 17, 2009 | Item | E-mail


Inter-Citic Reports New Step Out Drill Hole at Dachang Gold Project With 21.7 Metres Averaging 3.38 GPT Gold - More
- February 17, 2009 | Item | E-mail


Tombstone Exploration Provides Shareholder Update - More
- February 17, 2009 | Item | E-mail


Labrador Iron Mines third quarter highlights strong cash position towards production start-up - More
- February 17, 2009 | Item | E-mail


Minera Andes announces revised C$40.0 million private placement with Robert R. McEwen at a subscription price of C$1.00 - More
- February 17, 2009 | Item | E-mail


NQ Exploration Inc./Carheil Property: Drilling Program on Three Base Metal Targets - More
- February 17, 2009 | Item | E-mail


CanAlaska Uranium Ltd. - Uranium mineralization in granite at Grease River Project, northern Athabasca Basin - More
- February 17, 2009 | Item | E-mail


Tiomin Receives Requisition for Shareholder Meeting From Jaguar Financial Corp. - More
- February 17, 2009 | Item | E-mail


Colorado Goldfields Inc. Naked Short Squeeze Continues - More
- February 17, 2009 | Item | E-mail


Northland Appoints Anders Hvide as Chairman of the Board - More
- February 17, 2009 | Item | E-mail


Rolling Rock Resources Receives Positive Preliminary Economic Assessment Study for Monument Bay - More
- February 17, 2009 | Item | E-mail


Bayswater's 2008 Drilling Program Significantly Expands Anna Lake Uranium Deposit, Central Mineral Belt Uranium Project, Labrador - More
- February 17, 2009 | Item | E-mail


Capstone Reports 5th New High Grade Copper-Gold Discovery at Minto Mine in Three Years - More
- February 17, 2009 | Item | E-mail


Paladin Energy Ltd: Compulsory Acquisition of Outstanding Fusion Shares - More
- February 17, 2009 | Item | E-mail


African Copper Plc: Press Release - More
- February 17, 2009 | Item | E-mail


First Majestic Silver Corp.: La Parrilla Silver Mine Updates NI 43-101 Resource - "FIRST MAJESTIC SILVER CORP. (Toronto:FR.TO - News)(Other OTC:FRMSF.PK - News)(Frankfurt:FMV.F - News)(WKN: A0LHKJ) ("First Majestic" or the "Company") is pleased to announce an update regarding its activities in Mexico at the La Parrilla Silver Mine (La Parrilla) and a new NI 43-101 Reserve/Resource update with a cut-off date of September 30, 2008." More
- February 17, 2009 | Item | E-mail


Minco Continues to Release Excellent Drill Results From Changkeng - "Minco Gold Corporation (the "Company" or "Minco Gold") (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News) is pleased to report additional assay results of diamond drill holes completed for the Changkeng Gold Project located in Guangdong Province, China. The Company conducted a comprehensive exploration program on the project including approximately 12,000 metres of combined step out and in-fill diamond drilling in 61 holes. These 20 holes were primarily designed to confirm the earlier wider spaced positive drill results to a higher confidence level and to extend mineralization down dip." More
- February 17, 2009 | Item | E-mail


International Tower Hill Mines Ltd. Announces Increase in Bought Deal Equity Financing - "International Tower Hill Mines Ltd. ("ITH" or "the Company") (CDNX:ITH.V - News)(AMEX:THM - News)(Frankfurt:IW9.F - News) is pleased to announce that it has agreed with the syndicate of underwriters ("Underwriters") for the bought deal announced on February 12, 2009 to increase the Over Allotment Option by 200,000 common shares, such that the Underwriters will now have the option to purchase up to an additional 2,200,000 common shares of the Company ("Over Allotment Shares") at a price of $2.50 per Over Allotment Share to cover over allotments. The Over Allotment Option is exercisable by the Underwriters, in whole or in part, at any time up to 48 hours before closing. If the Over Allotment Option is exercised in full, the gross proceeds from the bought deal will increase by $500,000 to $10,500,000." More
- February 17, 2009 | Item | E-mail


Sabina Silver Announces Skinner Program Under Way - "Sabina Silver Corporation ("Sabina") (CDNX:SBB.V - News) announced today the exploration program on the 100% owned Skinner property in the Red Lake district of Ontario has begun. Also, the Company has entered into a Letter Of Intent granting an option (the "Option") to Skybridge Development Corp. to acquire Sabina's 50% interest in the East My-Ritt property in Red Lake, Ontario." More
- February 17, 2009 | Item | E-mail


International Minerals Reports Record Quarterly Production From Pallancata Silver Mine, Peru and Planned 50% Production Ramp-Up in 2009 - "International Minerals Corporation (TSX: IMZ - News) (SWX: IMZ - News) reports that quarterly silver production (100% basis) at the Pallancata Mine in southern Peru increased 118% from the prior quarter to a record 1.96 million ounces in the calendar fourth quarter ended December 31, 2008 (“Q4 2008”). IMZ realized equity income from the Pallancata joint venture of approximately $637,000 in Q4 2008 and $951,000 for the six-month period ended December 31, 2008." More
- February 17, 2009 | Item | E-mail


Timberline Announces First Quarter Financial Results and Provides Corporate Update - "Timberline Resources Corporation (NYSE Alternext US:TLR) (``Timberline'') today announced consolidated financial results for its first quarter of fiscal year 2009, which ended on December 31, 2008, along with a corporate update. Timberline's contract drilling subsidiaries, Timberline Drilling, Incorporated (``Timberline Drilling'') and World Wide Exploration, S.A. de C.V. (``World Wide''), reported combined gross revenues of $4.69-million for the quarter, compared to $6.44-million in the same period last year, and a combined pre-tax net loss of $1.62-million, compared to a loss of $0.31-million in the same period last year." More
- February 17, 2009 | Item | E-mail


Silvercorp to Commence Trading on NYSE Alternext US - "Silvercorp Metals Inc. ("Silvercorp" or the "Company") (Toronto:SVM.TO - News)(NYSE:SVM - News) is pleased to announce that its common shares have been authorized for listing on the NYSE Alternext US, formerly the American Stock Exchange, and trading will commence today under the ticker symbol "SVM". The Company's shares will continue to trade on the Toronto Stock Exchange under the symbol SVM.TO." More
- February 17, 2009 | Item | E-mail


Claude Resources Intercepts 3.71 oz/ton over 2.5 feet at Madsen Deep - "Claude launched Phase 1 of the underground program, from the 10th level in December 2008, targeting the 8 Zone system with 12,000 meters of drilling. The assay reported today confirms the high grade mineralization 130 feet down plunge of historic mine development and is consistent with historic drilling immediately above and below the 27th level that returned drill intercepts including 0.81 oz/ton over 14.4 feet, 2.76 oz/ton over 6.6 feet, 2.22 oz/ton over 3 feet and 1.25 oz/ton over 3 feet." More
- February 17, 2009 | Item | E-mail


Avino Provides Year End Summary and Outlook for 2009 - "I am pleased to present a review of Avino's achievements in 2008 and outlook for 2009. With precious metals prices holding up well in the current economic climate, we are working aggressively to bring the Avino Mine back into operation." More
- February 17, 2009 | Item | E-mail


Paramount Gold and Silver increases its San Miguel Project adding 54,000 hectares through acquisition in the Guazapares Mining District in Mexico - "Paramount Gold and Silver Corp. (Toronto:PZG.TO - News)(NYSE-A: PZG)(AMEX:PZG - News)(Frankfurt:P6G.F - News) has entered into agreements to acquire an additional 54,000 hectares of mining concessions adjacent to its San Miguel project in Chihuahua Mexico. Paramount has entered two concurrent transactions including the acquisition of all of the shares of Magnetic Resources Inc., a private Canadian corporation and the purchase of the Temoris options owned by Garibaldi Resources Corp. (CDNX:GGI.V - News) for cash and share consideration." More
- February 17, 2009 | Item | E-mail


 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2009

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted 17 February, 2009 | |


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