Gold Seeker Closing Report: Gold and Silver Fall Over 1% and 2%

	Close	Gain/Loss
Gold	$944.95	-$11.85
Silver	$14.37	-$0.31
XAU	145.91	-2.03%
HUI	357.20	-2.48%
GDM	1078.33	-2.06%
JSE Gold	2418.75	-47.11
USD	79.22	+0.25
Euro	141.43	-0.44
Yen	102.96	+0.36
Oil	$70.60	-$0.33
10-Year	3.771%	-0.083
T-Bond	116.40625	+1.09375
Dow	9337.95	-0.34%
Nasdaq	1992.24	-0.40%
S&P	1007.10	-0.33%

Gold saw just slight losses in Asia and London before it plummeted over $10 at the open of trade in New York and dropped to as low as $942.75 at about 8:30AM EST before it bounced off that low during the rest of trade, but it still ended with a loss of 1.24%. Silver fell about 2% in London and dropped to as low as $14.28 by about 9AM EST in New York before it also rebounded slightly into the close, but it still ended with a loss of 2.11%.

Euro gold fell to about €669, platinum lost $14.50 to $1243.50, and copper fell slightly to about $2.77.

Gold and silver equities fell nearly 3% in the first half hour of trade before they rebounded slightly midday, but they then fell back off a bit in early afternoon trade and ended with over 2% losses.

Tomorrow marks that start of the fed’s policy meeting that concludes on Wednesday. At 8:30AM EST is second quarter Productivity expected at 5.4% and Unit Labor Costs expected at -2.4%, and at 10AM is the Wholesale Inventories report for June expected at -0.9%.

Oil fell while the U.S. dollar index and treasuries rose on apprehension over retail sales and earnings reports that sent the Dow, Nasdaq, and S&P roughly 0.5% lower by the end of the day.

Among the big names making news in the market today were Dish Network, Dynegy, Nortel, McDonald’s, Hormel, and Merck.

“December Gold closed down 12.6 at 946.9. This was 2.7 up from the low and 9.1 off the high.

September Silver finished down 0.313 at 14.355, 0.165 off the high and 0.08 up from the low.

The gold market showed initial weakness in the early trade as a stronger Dollar and slack macro economic sentiment seemed to weigh heavily on the market. With the most recent COT positioning report showing what some traders pegged to be a lofty long position, many traders were quick to blame the slide in prices on technical position balancing. After the Dollar bounce on Friday, seeing the Greenback add to the upward bias on Monday probably prompted a wave of currency related selling in gold. With the outlook for the economy also somewhat dented by the slide in equity prices, one might even suggest that gold saw some pressure Monday from the physical or industrial side of the fundamental equation.

The silver market saw initial weakness on Monday and then seemed to come under more intense selling pressure into the 7:30 am central time frame. Like the gold market, the silver market seemed to feel some pressure from weakness in the equity markets, but the main catalyst behind the widespread weakness in the precious metals markets seemed to come from the residual strength in the Dollar. With the copper market eventually failing to hold some early strength one gets the impression that even industrial or physically based selling pressure was present in the Monday silver trade.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.97 tonnes and the LSE subtracted 1.42 tonnes.

Gammon Gold’s (GRS) refilling of financial statements, Northgate’s (NXG) second quarter earnings, Great Basin’s (GBG) mill refurbishment, Goldcorp’s (GG) dividend, Revett’s (RVM.TO) operations updated, and South American Silver’s (SAC.TO) drilling plans 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.

CBG Commences 2009 Committee Bay Exploration Program - More
- August 10, 2009 | Item | E-mail

Canyon Copper Completes Second Tranche of Private Placement - More
- August 10, 2009 | Item | E-mail

Douglas Lake Minerals Receives a Technical & Resource Report On the Mkuvia Alluvial Gold Project - More
- August 10, 2009 | Item | E-mail

Uragold Bay Receives Conditional Approval for the Ice Age Gold Properties Acquisition, Subject to Modification of the Terms of the Agreement - More
- August 10, 2009 | Item | E-mail

Midex Gold Corp Update: 5 for 1 Forward Split - More
- August 10, 2009 | Item | E-mail

Laurentian Goldfields Ltd. Announces Closing of C$1,480,419 Non-Brokered Private Placement - More
- August 10, 2009 | Item | E-mail

Colombia Goldfields Ltd Announces Increase in the Medoro Consideration and the Execution of Additional Lock-Up Agreement in Respect of the Plan of Arrangement - More
- August 10, 2009 | Item | E-mail

Gammon Gold to Re-File 2008 Financial Statements - "During the preparation of its interim consolidated financial statements for the quarter ended June 30, 2009, the Company determined that certain items in its consolidated financial statements for the year ended December 31, 2008 had been incorrectly translated into the Company's functional currency, the United States dollar, and that upon initial adoption by the Company of CICA Handbook Section 3031, Inventories, on January 1, 2008, a reversal should have been recorded for previously recognized net realizable value adjustments." More
- August 10, 2009 | Item | E-mail

Kodiak Options CanAlaska's McTavish Uranium Project, Consolidating Large Land Position in the Athabasca Basin - More
- August 10, 2009 | Item | E-mail

Roxmark to begin drilling new gold discovery at Northern Empire mine property - More
- August 10, 2009 | Item | E-mail

Messina Minerals Inc. Prospecting Results at Haven Steady, NL - More
- August 10, 2009 | Item | E-mail

Ur-Energy Begins Geophysical Surveying at Screech Lake Project - More
- August 10, 2009 | Item | E-mail

Mountain Lake Commences Exploration and Resource Expansion Drilling at Valentine Lake, in Central Newfoundland - More
- August 10, 2009 | Item | E-mail

Unico, Inc. Announces Additional Improvements to the Deer Trail Mill and Processing Facility for Improved Recovery of Gold - More
- August 10, 2009 | Item | E-mail

Castle Resources Begins New Drill Program at the Elmtree Gold Project - More
- August 10, 2009 | Item | E-mail

Mukuba Confirms Main Lithologies Belong to Lower Roan Group, Which Is Highly Prospective for Cu-Co Mineralization in the Zambian Copperbelt - More
- August 10, 2009 | Item | E-mail

SEMAFO Reports Significant Results from its Wona Extension Deep Drilling Program - More
- August 10, 2009 | Item | E-mail

Mega Uranium Ltd.: Discovery of Uranium-Bearing Palaeochannel in Western Australia - More
- August 10, 2009 | Item | E-mail

Cortez Resources Enters Into Definitive Agreement With Seabridge Gold Inc. for Acquisition of Mineral Properties in Nevada - More
- August 10, 2009 | Item | E-mail

Staccato Gold Provides Update on Summer Program at Flagship South Eureka Property - More
- August 10, 2009 | Item | E-mail

GoldTrain Announces Start of Field Program on the Missinabie Gold Project and Extension of Warrants - More
- August 10, 2009 | Item | E-mail

Golden Hope Mines Limited: Exploration Program Update Timmins Gold Deposit - More
- August 10, 2009 | Item | E-mail

Advanced Explorations Inc. Announces $1,800,000 Flow-Through Financing - More
- August 10, 2009 | Item | E-mail

TVI Pacific completes fifth shipment of copper concentrates from Canatuan Mine - More
- August 10, 2009 | Item | E-mail

Uranium Resources, Inc. Reports Second Quarter 2009 Results - More
- August 10, 2009 | Item | E-mail

United Reef Announces Appointment of New Director - More
- August 10, 2009 | Item | E-mail

Canadian Royalties Responds to Announcement by Goldbrook and Jilin Jien - More
- August 10, 2009 | Item | E-mail

Anglo Swiss Resources Inc. Acquires New Property Adjacent to the Kenville Gold Mine Property - More
- August 10, 2009 | Item | E-mail

CanAlaska options McTavish Uranium project - More
- August 10, 2009 | Item | E-mail

Kaminak Commences Exploration Program on the "TBN" Platinum-Palladium Property, Thunder Bay Area, NW Ontario - More
- August 10, 2009 | Item | E-mail

Hana Mining Ltd. Announces the Formation of an Advisory Board to Further Support Development of Its Exciting Copper-Silver Resource (Ghanzi Project) in Botswana - More
- August 10, 2009 | Item | E-mail

Gold Canyon Reviews Springpole Gold Project - More
- August 10, 2009 | Item | E-mail

Canadian Shield Shareholders Approve Amendment to Stock Option Plan - More
- August 10, 2009 | Item | E-mail

PC Gold Opens Up Pickle Crow With Discovery of Gold in Confederation Rocks; Drills Thick Temiskaming-Like Conglomerate Sequence - More
- August 10, 2009 | Item | E-mail

Tombstone Exploration Corporation Renews Six Exploration Permits on 3,025 Acres With Arizona State Land Department - More
- August 10, 2009 | Item | E-mail

Iberian Receives Permanent Aguas Tenidas Permit - More
- August 10, 2009 | Item | E-mail

Andean Resources Ltd.: Step-Out Drilling Extends Bajo Negro Vein by Another 125 Metres - More
- August 10, 2009 | Item | E-mail

Brookmount Gets a Favorable Independent 43-101 Technical Report on Its Mercedes 100 Polymetallic Property Located in Junín, Peru - More
- August 10, 2009 | Item | E-mail

MAX samples (greater than) 100g/t Gold, 105 ppm Tellurium at Crowsnest Gold property, Southeastern B.C. - More
- August 10, 2009 | Item | E-mail

Yukon-Nevada Gold Corp. announces private placement - More
- August 10, 2009 | Item | E-mail

Platinex's Ring of Fire Update - More
- August 10, 2009 | Item | E-mail

Mexivada Mining Corp. - Private Placement of $375,000 - More
- August 10, 2009 | Item | E-mail

God's Lake Resources Inc. Announces Commencement of Stock Trading - More
- August 10, 2009 | Item | E-mail

Loncor announces financing - More
- August 10, 2009 | Item | E-mail

Sunergy Announces Kerry Bjornson, CEO Joins Company's Advisory Board - More
- August 10, 2009 | Item | E-mail

Capstone Reports Additional High Grade Copper-Gold Results at Minto North - More
- August 10, 2009 | Item | E-mail

INV Reports Q2/2009 Results and Provides Operational Update - More
- August 10, 2009 | Item | E-mail

Fushi Copperweld Announces Participation at Jefferies 5th Annual CEO Summit - More
- August 10, 2009 | Item | E-mail

Golden Minerals Reports Second Quarter 2009 Results - More
- August 10, 2009 | Item | E-mail

RPT Teams Up With Kennecott to Explore Its Dorion Block - More
- August 10, 2009 | Item | E-mail

Jilin Jien and Goldbrook Formally Commence All-Cash Bid for Canadian Royalties - More
- August 10, 2009 | Item | E-mail

Anvil and Trafigura Announce Strategic Alliance - $200 Million Funding Package to Fast-Track Kinsevere Stage II - More
- August 10, 2009 | Item | E-mail

Uranium One Enters into Definitive Agreement to Acquire Christensen Ranch and Irigaray in Wyoming - More
- August 10, 2009 | Item | E-mail

Evolving Gold Drilling Update on Rattlesnake Hills - More
- August 10, 2009 | Item | E-mail

Palladon Ventures Ltd.-New Iron Mountain Project Resource Estimate - More
- August 10, 2009 | Item | E-mail

Golconda Provides Update - More
- August 10, 2009 | Item | E-mail

Rio Cristal Zinc Announces Name Change to Rio Cristal Resources - More
- August 10, 2009 | Item | E-mail

Golden Hope Mines Limited: Corporate Update - More
- August 10, 2009 | Item | E-mail

Creston's Application for Leave to Appeal Is Denied - More
- August 10, 2009 | Item | E-mail

Katanga Announces Second Quarter Results - More
- August 10, 2009 | Item | E-mail

Azteca Gold Corp.: Outstanding Payable Settlement Announced - More
- August 10, 2009 | Item | E-mail

Platinex Issues Shares for Services - More
- August 10, 2009 | Item | E-mail

Goldcorp Declares Eight Monthly Dividend Payment for 2009 - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) is pleased to declare its eight monthly dividend payment for 2009 of $0.015 per share. Shareholders of record at the close of business on Thursday, August 20, 2009 will be entitled to receive payment of this dividend on Friday, August 28, 2009." More
- August 10, 2009 | Item | E-mail

Revett Provides Update of Operations and Exploration at Troy Mine - "Revett Minerals Inc. (TSX:RVM/OTCBB:RVMIF) ("Revett" or the Company) is pleased to announce continued success at the Troy Mine, producing 301,770 ounces of silver and 2.3M lbs. copper during the second quarter of 2009."s More
- August 10, 2009 | Item | E-mail

South American Silver Corp. Defines New Silver-Lead-Zinc Target and Plans August Drilling at the Malku Khota Silver-Indium Project - "South American Silver Corp. ("SASC" or the "Company") (TSX:SAC - News) announces plans to start drilling on newly established silver-indium-lead-zinc targets down-trend (to the south) of the Limosna Ridge at the Malku Khota silver-indium property in west central Bolivia. Surface exploration in the first half of 2009, including a recently completed extensive geophysical Self Potential ("SP") survey, has identified several large drill targets of a similar size to those drilled to date within the resource area, in the five kilometre zone immediately to the south of Limosna." More
- August 10, 2009 | Item | E-mail

Northgate Reports Strong Second Quarter Operating Cash Flow of $50 Million - "Northgate Minerals Corporation (TSX: NGX; NYSE Amex: NXG) today reported net earnings of $5,402,000 or $0.02 per diluted common share and excellent cash flow from operations of $49,997,000 or $0.19 per diluted common share for the second quarter of 2009." More
- August 10, 2009 | Item | E-mail

Great Basin Gold Successfully Completes Refurbishment of Esmeralda Mill - "Great Basin Gold Ltd, ("Great Basin" or the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces that it has completed the refurbishment of the Esmeralda Mill. The Esmeralda Mill will process material extracted from the Hollister Gold Project at which trial mining is currently underway." More
- August 10, 2009 | Item | E-mail

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