Gold Seeker Closing Report: Gold and Silver Rise While Oil, Stocks, and Dollar Fall

	Close	Gain/Loss
Gold	$931.50	+$4.25
Silver	$14.13	+$0.06
XAU	140.56	+0.47%
HUI	338.14	+0.94%
GDM	1055.20	+0.97%
JSE Gold	2368.81	-34.55
USD	80.71	-0.48
Euro	138.38	+0.45
Yen	103.69	+1.49
Oil	$70.47	-$0.15
10-Year	3.674%	-0.039
T-Bond	117.15625	+0.53125
Dow	8504.67	-1.25%
Nasdaq	1796.18	-1.11%
S&P	911.97	-1.27%

Gold and silver saw slight gains in Asia and rose over 1% in London to as high as $939.05 and $14.407 by a little after 8AM EST before both metals pared their gains a bit in New York, but gold still ended with a gain of 0.46% while silver closed the day with a gain of 0.42%.

Euro gold remained at about €673, platinum gained $10.50 to $1215.50, and copper fell a few cents to about $2.25.

Gold and silver equities rose over 2% by late morning before they fell back to see slight losses midday, but they then rallied back higher in the last couple of hours of trade and ended with almost 1% gains.

Report	For	Reading	Expected	Previous
Housing Starts	May	532K	485K	454K
Building Permits	May	518K	508K	494K
Core PPI	May	-0.1%	0.1%	0.1%
PPI	May	0.2%	0.6%	0.3%
Capacity Utilization	May	68.3%	68.4%	69.0%
Industrial Production	May	-1.1%	-1.0%	-0.7%

Tomorrow at 8:30AM EST brings CPI for May expected at 0.3%, Core CPI expected at 0.1%, and the first quarter Current Account Balance expected at -$85.0 billion.

Oil rose for most of trade but ended slightly lower as a weak stock market overcame a falling dollar that dropped after Russian President Dmitry Medvedev expanded upon his finance minister’s comments of yesterday by saying that the world needs new reserve currencies to replace the dollar.

Treasuries rose as the Dow, Nasdaq, and S&P erased early gains and fell for most of the afternoon to end with over 1% losses as decent economic data was not enough to overcome recently renewed economic worries.

Among the big names making news in the market today were GM, Smithfield Foods, Best Buy, Boeing, and Citigroup.

“August Gold closed up 4.7 at 932.2. This was 1.3 up from the low and 8.4 off the high.

July Silver finished up 0.1 at 14.13, 0.26 off the high and 0.05 up from the low.

The gold market might have surprised the trade on Tuesday morning as the market was showing some minor strength overnight but as the trade moved toward the US scheduled report slate, prices began to firm. However, the gold market was unable to sustain the early strength through the US Housing Starts and inflation reports. With the gold market showing some downside momentum in the early afternoon trade in sync with the weakness being seen in the US equity markets, some traders are suggesting that the direction of equity prices is becoming more important than the action in the US Dollar. But in the end, the weak Dollar seemed to give the gold bulls a slight edge.

Like the gold market, the silver market attempted an early morning rally ahead of the US scheduled reports. However, even with a favorable set of data and an attempt to rally in the US equity market, the silver market consistently fell back from the pre-report highs. In fact, into the early afternoon trade, silver prices saw a more definitive slide right in the face of a new low for the day in the equity markets. But silver seemed to find price support near a key chart level and along with the weak Dollar, the market managed a slightly higher trade.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.78 tonnes.

Barrick’s (ABX) debentures notice, Allied Nevada’s (ANV) grand opening ceremony, Lihir’s (LIHR) Ballarat update, Fronteer’s (FRG) drill results, Excellon’s (EXN.TO) concentrate deal, and Orko Silver’s (OK.V) trenching 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.

Tribute Announces Closing of Balance of Flow-Through Offering With the MineralFields Group and First Tranche of Working Capital Placement - More
- June 16, 2009 | Item | E-mail

High River Gold Enters Into Support Agreement With Severstal - More
- June 16, 2009 | Item | E-mail

Rob McEwen Invites Investors to Minera Andes' AGM in Vancouver on June 18th, 2009 - More
- June 16, 2009 | Item | E-mail

Excellon Announces Long-Term Concentrate Deal and Resumption of Exploration Drilling - "Excellon Resources Inc. (Toronto:EXN.TO - News) is pleased to announce that it has entered into a long-term off-take agreement to sell its lead-silver and zinc-silver concentrates to Consorcio Minero de Mexico Cormin Mex, S.A. de C.V. ("Cormin Mexico"), a Trafigura Group Company. Cormin Mexico is based in Mexico City, is a trader of base metal concentrates and provides financial services to the mining industry. The agreement is for two years. Excellon will commence concentrate shipments this week from its recently acquired Miguel Auza mill to Cormin Mexico's Port of Manzanillo facility. The Miguel Auza mill continues to operate well and is producing concentrate from all of the high-grade ore that has been delivered from Platosa since March 2009." More
- June 16, 2009 | Item | E-mail

Notice to Holders of Cadence Energy 4.75% Convertible Unsecured Subordinated Debentures - "Barrick Gold Corporation (NYSE:ABX - News)(Toronto:ABX.TO - News) announced today that, pursuant to the terms of Cadence Energy 4.75% Convertible Unsecured Subordinated Debentures due 2012 (the "Debentures") (CDS.DB), upon compliance with the terms and conditions of the Debentures, in connection with the previously announced payment of regular dividends on the common shares of Barrick Gold Corporation (the "Barrick Shares"), the Debentures are convertible from and after June 16, 2009 into Barrick Shares at a rate of 19.01 Barrick Shares for each $1,000 principal amount of Debentures (subject to further adjustment in accordance with the indenture governing the terms of the Debentures)." More
- June 16, 2009 | Item | E-mail

Helio Discovers Extensive Gold in Soil Anomaly on the Saza West Licence, SMP Gold Project, Lupa Goldfields, Tanzania - More
- June 16, 2009 | Item | E-mail

Powertech to Amend Dewey-Burdock NRC License Application - More
- June 16, 2009 | Item | E-mail

Habanero Adds Mining Geologist - More
- June 16, 2009 | Item | E-mail

Baja Achieves Key Milestone in Development of Manganese Metal Production at Boleo - More
- June 16, 2009 | Item | E-mail

Benton options Sibley project to Kennecott - More
- June 16, 2009 | Item | E-mail

Black Tusk Minerals Announces Fee Arrangement Agreements - More
- June 16, 2009 | Item | E-mail

Junior gold stocks: have wings, will fly - "A selection of the world's 100 most in-demand gold stocks shows up an aggregate market value of USD 151bn worth of market value (capitalisation), and, measured on an average weighted basis, stocks that are trading a modest 18.5% below 12-months highs." More
- June 16, 2009 | Item | E-mail

Allied Nevada Hosts Hycroft Mine Grand Opening Ceremony - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (Toronto:ANV.TO - News)(AMEX:ANV - News) is pleased to announce that it will celebrate the official grand opening for its wholly owned Hycroft gold mine located near Winnemucca, Nevada on June 17, 2009. Following the opening ceremony, the Company will hold its Annual General Meeting ("AGM") at 4:30 pm PDT at the Winnemucca Convention Center, 50 West Winnemucca Blvd., Winnemucca, Nevada." More
- June 16, 2009 | Item | E-mail

General Mining Properties Ltd. announces update on transaction for option to acquire 70% of past producing Yarnell gold mine in Arizona - More
- June 16, 2009 | Item | E-mail

Golden Chalice Resources Provides Exploration Update on Langmuir Nickel Project - More
- June 16, 2009 | Item | E-mail

Homeland Uranium Inc. Provides Warrant Extension and Pricing Amendment - More
- June 16, 2009 | Item | E-mail

Zaruma Resources Files Technical Report on the Sapuchi Gold Project and Resource Estimate Update on the Luz del Cobre Copper Project - More
- June 16, 2009 | Item | E-mail

Moneta announces appointment to Board of Directors and Management Changes - More
- June 16, 2009 | Item | E-mail

Vena Discovers Significant Gold/Silver/Copper Mineralization at Esquilache - More
- June 16, 2009 | Item | E-mail

Stelmine Close a $ 325,000 Financing - More
- June 16, 2009 | Item | E-mail

Alexis Outlines Strategic Objectives and Focus to Achieve Status as a Mid-Tier Gold Producer - More
- June 16, 2009 | Item | E-mail

Mukuba Commences 2009 Exploration Program - More
- June 16, 2009 | Item | E-mail

Uranium Bay Receives Technical Report on its Uskawanis Property: Based on the Current Information the Prospectivity of the Property is Still Considered V.Good - More
- June 16, 2009 | Item | E-mail

Northern Shield Commences Drilling at Eastbank, northern Ontario - More
- June 16, 2009 | Item | E-mail

Cadillac Signs Heads of Agreement on Tendal Massive Sulphide Zinc, Lead and Copper Project in Argentina - More
- June 16, 2009 | Item | E-mail

Roxmark begins 2009 gold exploration program, focuses on newly outlined parallel structures - More
- June 16, 2009 | Item | E-mail

Vior to Sign Two Agreements - More
- June 16, 2009 | Item | E-mail

Ressources Appalaches: 43-101 Report on Dufferin Property - More
- June 16, 2009 | Item | E-mail

Pacific Copper Acquires San Enrique Property - More
- June 16, 2009 | Item | E-mail

TSX Venture Exchange Approves Strategic Resources Option Agreement - More
- June 16, 2009 | Item | E-mail

Rare Earth Supply Under the Microscope - More
- June 16, 2009 | Item | E-mail

Revett Minerals Provides Update on Debt - More
- June 16, 2009 | Item | E-mail

Merrex Commences Airborne Geophysical Survey at Siribaya - More
- June 16, 2009 | Item | E-mail

Romarco announces head office relocation - Appoints Henderson to Haile - More
- June 16, 2009 | Item | E-mail

Oro Silver to Assess Thiosulfate Processing Option at El Compas Property, Zacatecas, Mexico - More
- June 16, 2009 | Item | E-mail

Silver Dragon Signs Toll-Mill Agreement to Process Up to 1,000 Tonnes of Ore Monthly From Cerros las Minitas - More
- June 16, 2009 | Item | E-mail

Triple Dragon announces acquisition of Camlaren and May properties - More
- June 16, 2009 | Item | E-mail

TVI Pacific completes voluntary stock option cancellations - More
- June 16, 2009 | Item | E-mail

American Lithium Minerals Inc. Closes Transaction to Acquire 100% Interests of Montezuma Lithium Minerals Claims - More
- June 16, 2009 | Item | E-mail

Arianne Resources Inc.: Shareholders Approve All Resolutions at the June 11 Shareholder's Meeting - More
- June 16, 2009 | Item | E-mail

Goldrich Prepares for Gold Production at Chandalar, Alaska - More
- June 16, 2009 | Item | E-mail

San Anton Receives More Than $1 Million From Mexican Sales Tax Refund - More
- June 16, 2009 | Item | E-mail

Duluth Metals expands exploration land holdings in the Duluth Complex - More
- June 16, 2009 | Item | E-mail

Anooraq Announces Results of Annual & Extraordinary General Meetings, Changes to the Board of Directors & Signing of Definitive Funding Agreements - More
- June 16, 2009 | Item | E-mail

Zincore Announces Interim CEO - More
- June 16, 2009 | Item | E-mail

Thundermin and Cornerstone Intersect 3.8% Cu Over 9.1 Metres on the Little Deer Copper Deposit, Springdale Area, Newfoundland - More
- June 16, 2009 | Item | E-mail

San Gold Increases Treasury by $37 Million on Exercise of Warrants - More
- June 16, 2009 | Item | E-mail

General Metals Raises Over $303,000 via Private Placement - More
- June 16, 2009 | Item | E-mail

Cloudbreak Acquires Yukon Property Adjoining Underworld's White Gold Project - More
- June 16, 2009 | Item | E-mail

Orko Silver's Surface Trenching of Nancy Vein Yields Excellent Results - "The Nancy Vein is located on the western structural trend and is outside of the current resource estimate area for La Preciosa. Of particular note are trench sample NT09-12, which yielded 4.20 metres grading 1.342 g/t gold and 217.4 g/t silver for a silver-equivalent of 298.0 g/t and trench sample NT09-07, which yielded 8.25 metres grading 0.653 g/t gold and 132.4 g/t silver for a silver-equivalent of 171.0 g/t." More
- June 16, 2009 | Item | E-mail

LGL (Lihir Gold Limited): Ballarat Update - "Lihir Gold Ltd (Toronto:LGG.TO - News)(ASX:LGL.AX - News)(NasdaqGS:LIHR - News) ("LGL") is pleased to report gold production for the first five months of 2009 totalled 510,000 ounces (ozs), and the Company remains on track for full year production of between 1.04 million and 1.2 million ozs." More
- June 16, 2009 | Item | E-mail

Fronteer Development Group Inc.: Ongoing Work-Program Underlines Strong Production Potential of Sandman Gold Deposits - "Fronteer Development Group Inc. (Toronto:FRG.TO - News)(FRG - News) is pleased to announce that Newmont USA Limited ("Newmont"), a subsidiary of Newmont Mining Corporation, has provided the results from a further 16 holes recently drilled as part of their 2009 US$5M work-program at the Sandman gold project in Nevada." More
- June 16, 2009 | Item | E-mail

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