Gold Seeker Closing Report: Gold and Silver End Mixed and Near Unchanged

	Close	Gain/Loss
Gold	$937.50	+$2.75
Silver	$13.93	-$0.03
XAU	141.22	+1.50%
HUI	345.06	+1.88%
GDM	1043.65	+1.53%
JSE Gold	2334.48	-4.67
USD	78.99	-0.31
Euro	141.26	+0.44
Yen	105.55	-0.28
Oil	$69.19	+$2.44
10-Year	3.526%	+0.035
T-Bond	119.28125	-0.390625
Dow	9217.94	+0.90%
Nasdaq	1955.82	+1.30%
S&P	989.67	+1.01%

Gold rose to see a $5.05 gain at $939.80 by late trade in Asia before it fell back off in London and saw a loss of $0.55 at $934.20 by about 9AM EST in New York, but it then rallied back higher into the close and ended with a gain of 0.29%. Silver climbed as much as $0.265 to $14.225 in Asia before it fell to see a 1% loss at $13.82 by about 9AM EST in New York and then rallied back higher into the close, but it still ended with a loss of 0.21%.

Euro gold remained at about €664, platinum gained $8.50 to $1224, and copper fell slightly to about $2.76.

Gold and silver equities rose over 1.5% by midday and remained near their highs into the close.

Report	For	Reading	Expected	Previous
Housing Starts	July	581K	599K	587K
Building Permits	July	560K	577K	570K
PPI	July	-0.9%	-0.3%	1.8%
Core PPI	July	-0.1%	0.1%	0.5%

Oil rose slightly while the U.S. dollar index and treasuries dropped a bit as the Dow, Nasdaq, and S&P found modest gains on decent earnings reports that eased some worry over the future health of the global economy and encouraged some risk taking.

Among the big names making news in the market today were GM, Exxon, home Depot, Target, Cardinal, Hertz, and Novavax.

There is no safe haven in buying the currency or debt of a BANKRUPT nation seeking to borrow ever more. That is a fact that no algorithm can extinguish.

Speculators, even bullish speculators, are the enemy of gold as they set themselves up to be used as the means of doing exactly what you see today, getting killed and THEREIN REDUCING PRICE. Leverage is your enemy as the gold banks strike at the weakest part of the gold market to accomplish their ends. Stop speculating in credit against mega money. The gold banks will lose against the cash market alone.

Below is a quote from Armstrong's latest dated August 7th. Regardless of the intrigue in his life this man is yet to wrong on any major trend, if you understand what he is doing for you. If you demand the day, the time of day, the price and the immediate direction you are asking too much from a human. Armstrong has been consistently right on the trend and the trend is the only friend you will find on the floor of any exchange.

"Gold continues to consolidate below $1000. This is a critical sign that confidence is swinging away from the government. Just as China is concerned for the dollar, they speak the truth, unlike the BS from Washington. They are speaking from self-interest and so is Washington. China is concerned about its holding in dollars and has been reducing the maturity of their holdings. The Washington crowd has been speaking out of their self-interest insofar as they do not want to face reality and keeps telling everyone "don't worry-be happy.""

It appears that gold is building a base from which a rally up to $2,500 - $3000 area is very likely. There is even a possible rise to the $5000 level, but that is the most extreme projection. This is suggesting that confidence in the dollar is declining. This is not the classic, "Inflation nonsense, but a collapse in currency value consequence."

I would add that hyperinflation, a non classic inflation, is always and will be again be the CONSEQUENCE of a CURRENCY EVENT no one understands now or will understand when it happens, which it will.

All dollar rallies are going to be sold by those seeking diversification, most certainly those governments that do seek the US's best interests such as Russia.

“December Gold closed up 3.4 at 939.2. This was 3.6 up from the low and 2 off the high.

December Silver finished down 0.015 at 13.995, 0.065 off the high and 0.135 up from the low.

The gold market generally showed an inside day up on the charts today and that in turn didn't really seem to favor the bull or the bear camp. However, the bull camp might come away from the action Tuesday, emboldened by the markets capacity to stand up to slack economic data, especially in the wake of the recent macro economic letdown. In the end, a soft Dollar and strength in equity prices seemed to distract the gold trade away from the scheduled US numbers, especially since both the housing data and the US PPI figures pointed more toward slowing and deflation instead of toward growth and inflation.

The silver market spent most of the trading session Tuesday in the lower portion of the prior session's trading range and that might have given the bear camp a slight bit of confidence. However, some technical traders noted that the September silver contract spent a lot of time right on the 50 day moving average of $13.95 but with the market interested also seemingly interested in the prior session's lows, there seemed to be a bearish technical bias in play. It seemed like gold prices outperformed the silver market on Tuesday, but with copper prices also weak, the silver market was probably being pressured by ongoing industrial demand fears.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.34 tonnes and the JSE added 0.36 tonnes.

Kirkland’s (KGI.TO) first quarter gold sales, Revett’s (RVM.TO) second quarter results, and ECU Silver’s (ECU.TO) mineral resource recoveries 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.

UC Resources Ltd.: Private Placement Oversubscribed - More
- August 18, 2009 | Item | E-mail

Duncan Park Holdings Corporation to Transfer to NEX Board of TSX Venture Exchange - More
- August 18, 2009 | Item | E-mail

Kinbauri Directors Unanimously Recommend that Shareholders ACCEPT Orvana's Increased Offer at $0.75 per Share - More
- August 18, 2009 | Item | E-mail

Sacre-Coeur Closes Additional Private Placement for $1.213 Million - More
- August 18, 2009 | Item | E-mail

ATW Gold Corp.: Drilling at Gullewa Yields Significant Mineralization North and South of the Deflector Deposit - More
- August 18, 2009 | Item | E-mail

Global Gold Announces Closing of Chilean JV Transfer and Separation of Properties - More
- August 18, 2009 | Item | E-mail

Prize Mining Corporate Update - More
- August 18, 2009 | Item | E-mail

Revett Minerals Reports Second Quarter 2009 Results - "Despite a reduction in operating costs and an improvement in production, the Company reported loss in the first half of 2009 of $1.9 million or $0.02 per share on revenue of $14.8 million, compared to net income of $1.5 million or $0.02 per share on revenue of $25.4 million for the first half of 2008. Net income for the first half continued to be negatively affected by the decrease in the price of copper and silver that began in 2008. Although metal prices have begun a modest recovery this year, first quarter 2009 prices for both copper and silver were substantially lower than for the same period last year." More
- August 18, 2009 | Item | E-mail

IMA, Kobex and International Barytex Sign Definitive Agreement - More
- August 18, 2009 | Item | E-mail

Luiri Gold Completes Placement for C$2.6 Million and Starts Major Drilling Programme - More
- August 18, 2009 | Item | E-mail

High Desert Gold Identifies Strong Gold Mineralization Associated with Low-Angle Structures on the Kinkaid Property, Mineral County, Nevada - More
- August 18, 2009 | Item | E-mail

North American Tungsten Announces Updated 43-101 Reserves for Significant Extended Life of Mine Plan at Cantung - More
- August 18, 2009 | Item | E-mail

Vena Enters Into Joint Venture to Develop Pucara Au/Cu Project - More
- August 18, 2009 | Item | E-mail

Drilling Commences at Corex's New Gold Discovery - More
- August 18, 2009 | Item | E-mail

Forsys Plan of Arrangement Update - More
- August 18, 2009 | Item | E-mail

ECU Silver Achieving Excellent Progress on Mineral Resource Recoveries - "ECU Silver's mineral resource is primarily contained in sulphide mineralization plus additional oxide mineralization. The Company has been testing various methods to improve metallurgical recoveries within both these environments and has attained excellent results." More
- August 18, 2009 | Item | E-mail

Q-Gold announces gold zone drilling program at Mine Centre, Ontario - More
- August 18, 2009 | Item | E-mail

Landore Resources Limited - Drilling Update - Junior Lake Property - More
- August 18, 2009 | Item | E-mail

Rocmec to Commence Thermal Fragmentation Mining at Fresnillo's Cienega Mine in Mexico - More
- August 18, 2009 | Item | E-mail

Maya Gold & Silver Reports High-Grade Gold Results at its Amizmiz (Morocco) - More
- August 18, 2009 | Item | E-mail

Trelawney Enters Into Option Agreement to Acquire Interest in Chester Property - More
- August 18, 2009 | Item | E-mail

Glass Earth Gold Signs Deal to Allow Hard Rock Gold Mining This Year - More
- August 18, 2009 | Item | E-mail

Reunion Gold Corporation Arranges US$250,000 Loan - More
- August 18, 2009 | Item | E-mail

Drilling begins on new discovery at Northern Empire Mine - Roxmark launches airborne geophysical survey on Leitch-Sand River Mine property - More
- August 18, 2009 | Item | E-mail

Golden Valley Mines Ltd.: Mineral Applications Recommended for Approval, Gold and Diamond Prospects in the Republic of Sierra Leone - More
- August 18, 2009 | Item | E-mail

Northern Shield Resources Provides Update on its PGE Exploration activities in the James Bay Lowlands; Completes drilling at Eastbank - More
- August 18, 2009 | Item | E-mail

Rio Alto Mining Limited: Positive Gold Sampling Comparison La Arena Gold Oxide Project - More
- August 18, 2009 | Item | E-mail

Augyva Announces Establishment of Hong Kong Presence - More
- August 18, 2009 | Item | E-mail

Cadan Announces Purchase of Crushers and Ballmill for T'Boli Gold-Silver Mine - More
- August 18, 2009 | Item | E-mail

Ucore Uranium Inc.: China to Prohibit Export of Heavy Rare Earths Particular to Bokan - More
- August 18, 2009 | Item | E-mail

Universal Approved to Commence Drilling Nevada Gold Property - More
- August 18, 2009 | Item | E-mail

Cadillac Announces Initial Resource Estimate for Burnt Hill - More
- August 18, 2009 | Item | E-mail

Orvana Takes Up Kinbauri Shares and Extends Offer Until August 28, 2009 - More
- August 18, 2009 | Item | E-mail

Rostock Ventures Corp. to Initiate Work Program on McVicar Gold Prospect - More
- August 18, 2009 | Item | E-mail

Canadian Mining Ramps Up Drilling Plans for Mexico & Arizona Projects - More
- August 18, 2009 | Item | E-mail

Premier provides Red Lake exploration update - Deep drilling intersects high grade gold 12.5g/t Au across 4.5 metres - More
- August 18, 2009 | Item | E-mail

Dynasty Provides Update on Ecuador Gold Projects - More
- August 18, 2009 | Item | E-mail

Paget Minerals Corp. Commences Trading on the TSX Venture Exchange - More
- August 18, 2009 | Item | E-mail

Denarii Resources Provides Corporate Update - More
- August 18, 2009 | Item | E-mail

Eagle Hill Takes Steps to Ensure Focus on Windfall Lake Property - More
- August 18, 2009 | Item | E-mail

Blackstone Mobilizes Diamond Drill Rig to Norbotten Copper-Gold Project to Test Anomaly - More
- August 18, 2009 | Item | E-mail

Loncor issues update of its Bas Congo exploration program - More
- August 18, 2009 | Item | E-mail

Duluth Metals hole hits mineralization 900 meters southwest of defined boundary of Nokomis Deposit - More
- August 18, 2009 | Item | E-mail

Royal Roads announces new director - More
- August 18, 2009 | Item | E-mail

CanAlaska closes first tranche of private placement - More
- August 18, 2009 | Item | E-mail

Acadian Mining exercises option to acquire claims on FMS Trend from Vostok Minerals - More
- August 18, 2009 | Item | E-mail

KL Gold Reports Record Q1 Gold Sales of 21,014; New Paste Fill Hole 60% Completed - "During the quarter, the Company poured and sold 21,014 ounces of gold and produced 17,135 ounces of gold. This production was achieved despite the challenges faced by operations after the surface to 3400 Level pastefill system borehole blocked on June 23rd, as reported in the news releases dated July 7th, 2009 and July 21st, 2009. The sale of 21,014 ounces for the first quarter was a quarterly record for the Company." More
- August 18, 2009 | Item | E-mail

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