Gold Seeker Closing Report: Gold and Silver End Slightly Higher With Stocks

	Close	Gain/Loss
Gold	$922.55	+$1.15
Silver	$12.84	+$0.06
XAU	134.88	+1.99%
HUI	328.07	+2.39%
GDM	1010.14	+2.20%
JSE Gold	2306.55	+112.86
USD	80.18	+0.13
Euro	139.45	-0.33
Yen	107.13	-0.43
Oil	$59.52	-$0.17
10-Year	3.447%	+0.101
T-Bond	118.65625	-1.390625
Dow	8359.49	+0.33%
Nasdaq	1799.73	+0.36%
S&P	905.84	+0.53%

Gold saw slight losses in Asia before it rose in London and early New York trade to as high as $927.45 by about 9:30AM EST, but it then fell back off a bit into the close and ended with a gain of just 0.12%. Silver climbed to as high as $12.99 before it also fell back off into the close, but it still ended with a gain of 0.47%.

Euro gold climbed to about €663, platinum gained $13.50 to $1125.50, and copper gained nearly 8 cents to about $2.29.

Gold and silver equities rose roughly 2% at the open and remained near their highs into the close.

Report	For	Reading	Expected	Previous
PPI	June	1.8%	0.9%	0.2%
Core PPI	June	0.5%	0.1%	-0.1%
Retail Sales	June	0.6%	0.4%	0.5%
Retail Sales ex-auto	June	0.3%	0.5%	0.4%
Business Inventories	May	-1.0%	-0.8%	-1.3%

Tomorrow at 8:30AM EST brings CPI for June expected at 0.6%, Core CPI expected at 0.1%, and Empire Manufacturing for July expected at -5.00. At 9:15 is Capacity Utilization for June expected at 67.9% and Industrial Production expected at -0.6%, and at 2PM is the release of minutes from the fed’s June 24^th meeting.

The U.S. dollar index ended marginally higher after mixed economic data overseas sent the Pound higher and the Euro lower.

Treasuries fell on decent retail sales and higher than expected PPI that pushed interest rates higher.

The Dow, Nasdaq, and S&P ended with modest gains on optimism over retail sales and decent earnings reports.

Among the big names making news in the market today were Goldman Sachs, CIT, J&J, IBM, UAL, and Continental.

The madness continues. How many of these swaps, better known as Credit Default OTC derivatives, do you really believe are properly hedged or just ratio hedged? Ratio hedge is a nice way of saying not hedged. There is very little difference between how MBIA guaranteed against financial failure (which was a cartoon) and how these instruments work.

This is an example of how all the financial intervention simply made Wall Street whole but never focused on making the Weapons of Mass Destruction, the OTC derivative, whole. On top of that the institutions that brought this disaster to you that have now all been rescued are simply going on producing more toxic paper that will not function when called upon to.

On top of that, MOPE (management of perspective economics) says OTC derivatives are just fine by quoting these damn things as indicators of credit worthiness according to the value of the swap. Swap what? Do you really believe the other side is 100% short of the NYT or their debt? They are simply not! They at best have a ratio spread on that. Tomorrow morning if the NYT was broken the instruments would be equally broken.”- Jim Sinclair, JSMineset.com

“August Gold closed up 0.3 at 922.8. This was 0.8 up from the low and 5 off the high.

September Silver finished up 0.07 at 12.855, 0.14 off the high and 0.02 up from the low.

The gold trade was mostly positive today in the wake of an improvement in macro economic sentiment. With a much hotter than expected US PPI reading it is possible that the market raised the prospect of inflation and in turn reduced the chance of spirally deflation. Not surprisingly there was very little news during the US session on the status of the South African mining negotiations. During the session the gold market saw periodic and fleeting support from gains in the US equity markets, from gains in the energy complex and initial weakness in the Dollar. Therefore the outside market influences in gold were alive and well in the trade Tuesday. In the end, gold and a number of physical commodity markets seemed to be cheered by the prospect of revived growth but with the inability to sustain gains in gold and the equity throughout the session, it was clear that an optimistic economic outlook is difficult to sustain.

The silver market managed to forge a fairly impressive morning recovery bounce but early into the afternoon action prices had fallen back by as much as 16 cents an ounce. It is possible that some bulls were disappointed with the action in silver, as a weaker Dollar, soaring equities and better than expected information flow from the morning trade seemed to have put the bull camp in the driver's seat. However, the Dollar recovered and oil prices generally seemed to be unable to hold up in the face of sagging energy demand forecasts. In the end, the news was supportive but apparently the outlook for the economy generally remained suspect in the minds of many traders.”- The Hightower Report, Futures Analysis and Forecasting

Eldorado’s (EGO) amended agreement, AngloGold’s (AU) updated guidance, Paramount’s (PZG) drilling, South American Silver’s (SAC.TO) indium discussions, Alexco’s (AXU) permitting, and Scorpio’s (SPM.TO) operations update 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.

Rockcliff Announces Debt Settlement With 2 Creditors - More
- July 14, 2009 | Item | E-mail

Uranium International Corp. Appoints Dev Randhawa as Chairman and Board Director - More
- July 14, 2009 | Item | E-mail

Threegold Resources Completes the First Closing of a $600,000 Private Placement - More
- July 14, 2009 | Item | E-mail

Eldorado Amends Agreement to Acquire Gold Fields' Stake in Sino Gold - "Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation ("Eldorado", the "Company", or "we") (TSX:ELD - News)(AMEX:EGO - News) is pleased to announce that Eldorado has amended its agreement with Gold Fields Australasia (BVI) Limited ("Gold Fields") whereby Eldorado will acquire 57.9 million shares of Sino Gold Mining Limited ("Sino Gold") (representing approximately 19.9% of the issued and outstanding shares of Sino Gold) in exchange for 27,824,654 shares of Eldorado, subject to certain adjustments (the "Gold Fields Transaction")." More
- July 14, 2009 | Item | E-mail

International Wayside Gold Mines Ltd.: Prospecting Assay Results Leads to New Drill Program - More
- July 14, 2009 | Item | E-mail

Explor Increases East Bay Property - More
- July 14, 2009 | Item | E-mail

Pediment Adds Second Drill at La Colorada to Explore High-Grade Vein Potential - More
- July 14, 2009 | Item | E-mail

Trilliant Exploration Signs Letter of Intent to Acquire Ecuadorian Gold Processor to Increase Gold Production - More
- July 14, 2009 | Item | E-mail

Kinbauri Gold Corp. Announces Business Combination With ATW Gold Corp. - More
- July 14, 2009 | Item | E-mail

NWT Uranium announces grant of options - More
- July 14, 2009 | Item | E-mail

Helio Reports Commencement of Drill Programmes at Dubwana and Porcupine - Gap Targets, SMP Gold Project Tanzania - More
- July 14, 2009 | Item | E-mail

Aquiline to Complete 100% Purchase of Pico Machay Gold Project - More
- July 14, 2009 | Item | E-mail

Bear Lake Gold Reports New High-Grade Gold Intercepts From its Bear Lake Gold Zone in Larder Lake, Ontario - More
- July 14, 2009 | Item | E-mail

Argentex appoints Mr. Mark Vanry, MBA, as Executive Vice President of Corporate Development - More
- July 14, 2009 | Item | E-mail

Hana Mining Ltd. Agrees to Purchase 100% of Ghanzi Copper-Silver Project in Botswana - More
- July 14, 2009 | Item | E-mail

Tombstone Exploration Stakes 10 New Claims Adjacent to Previously Assayed Property - More
- July 14, 2009 | Item | E-mail

Sakha Enterprises Announces Agreement With Goldbear Capital Corporation of Toronto - More
- July 14, 2009 | Item | E-mail

Tara Minerals Hires Key Personnel for Production Start-Up at Don Roman - More
- July 14, 2009 | Item | E-mail

Mr. John K. Graf joins Copper Mountain Board - More
- July 14, 2009 | Item | E-mail

San Gold Hinge Bulk Sample Combines High Grades With Low Costs - More
- July 14, 2009 | Item | E-mail

USCorp Chooses Harris Drilling Company Picacho Salton Gold Property Phase 1, 2 and 3 Drilling Project - More
- July 14, 2009 | Item | E-mail

Centamin Egypt: Sukari Gold Project Resource Upgrade - More
- July 14, 2009 | Item | E-mail

South American Silver Initiates Strategic Discussions With Asian Indium Producers and Consumers Regarding Its Malku Khota Silver-Indium Deposit - "South American Silver Corp. (TSX:SAC - News) ("SASC" or the "Company") announces that it has initiated discussions on the Malku Khota silver-indium project with various interested parties in China, Japan and South Korea. The purpose of these discussions has been to explore the possibility of securing a strategic alliance in the form of a marketing, off take or investment agreement. Several groups have expressed interest in learning more about the Malku Khota project and discussions are ongoing but there can be no assurance that a strategic alliance will result from these efforts." More
- July 14, 2009 | Item | E-mail

USA Uranium Adds Expertise and Reviews Property - More
- July 14, 2009 | Item | E-mail

Underworld Intersects 9.2 g/t Au Over 31.2 Meters at White Gold Property - More
- July 14, 2009 | Item | E-mail

Trade Winds Files Updated NI 43-101 Technical Report for Block A on SEDAR - More
- July 14, 2009 | Item | E-mail

AngloGold Ashanti Updates Second Quarter Guidance - "On 31 March 2009 AngloGold Ashanti guided second quarter production of 1.140Moz, with cash costs in a range of $465/oz to $485/oz, depending on currency assumptions. The company will report production of 1.127Moz for the second quarter, 1% below forecast, with cash costs within the guided range." More
- July 14, 2009 | Item | E-mail

Alexco Resource Corp.: Yukon Government Issues Positive Decision Document for Bellekeno Mine Permitting - "Alexco Resource Corp. (TSX:AXR - News)(AMEX:AXU - News) ("Alexco" or the "Company") is pleased to report that the Yukon Government has issued a positive Decision Document agreeing with the recommendation of the Yukon Environmental and Socioeconomic Assessment Board that the Bellekeno Mine project should proceed. The issuance of this Decision Document completes the environmental and socioeconomic assessment of the Bellekeno Mine project, providing a framework for mitigations that will be included in both the Quartz Mining Licence and the Type A Water Use Licence." More
- July 14, 2009 | Item | E-mail

Strike Looms After South African Gold Miners Reject New Wage Offer - "Trade unions rejected an improved wage offer from South African producers AngloGold Ashanti Ltd. and Gold Fields Ltd., and warned Tuesday that workers will strike if a double-digit increase isn't tabled during the next round of talks.

Unions have been holding firm to demands for a 15% pay raise and have warned roughly 150,000 miners could down tools across South Africa, the world's third-largest producer of the metal behind China and the U.S." More
- July 14, 2009 | Item | E-mail

Scorpio Provides June 2009 Operations Update - "June 2009 was another strong month ending the second quarter of commercial production with approximately 55,000 contained ounces of pure silver produced. The company continues to be cost-efficient with Mexican cash operating costs(1) for mining, milling and administration being US$47.86 per tonne versus budgeted of US$46.51 per tonne." More
- July 14, 2009 | Item | E-mail

Paramount Gold and Silver Corp. Commences Drilling at their San Miguel Project Focusing on Gold-Rich Targets - "Paramount Gold and Silver Corp. ("Paramount") (TSX:PZG - News)(NYSE:PZG - News)(Frankfurt:P6G - News)(WKN: A0HGKQ) is pleased to announce that the drilling campaign on the San Miguel project was restarted. This drilling program will be conducted in 2 distinct stages, target testing and follow-up resource delineation. Exploration drilling is focusing on the gold-rich parts of the San Miguel mineral system with the goal of defining 2 million gold ounces within the next 12 months. It is anticipated that a significant silver credit would accompany successfully attaining this goal. The initial target testing stage is utilizing 1 diamond core drill contracted from Layne de Mexico S.A. de C.V." More
- July 14, 2009 | Item | E-mail

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