Gold Seeker Closing Report: Gold and Silver End Mixed While Stocks Fall

	Close	Gain/Loss
Gold	$951.50	-$5.95
Silver	$14.87	+$0.09
XAU	147.04	-2.29%
HUI	357.22	-2.07%
GDM	1087.49	-1.77%
JSE Gold	2343.86	-4.67
USD	78.15	-0.15
Euro	143.37	+0.38
Yen	107.33	+0.50
Oil	$69.96	-$2.78
10-Year	3.401%	-0.050
T-Bond	120.9375	+0.625
Dow	9496.28	-0.50%
Nasdaq	2009.06	-0.97%
S&P	1020.62	-0.81%

Gold saw slight losses in Asia before it dropped markedly midday in London to as low as $944.50 by about 8:30AM EST in New York, but it then climbed back higher for most of the rest of trade and ended with a loss of just 0.62%. Silver fell nearly 2% to as low as $14.517 by about 8:30AM EST before it also climbed back higher for most of the rest of trade, but it then accelerated its gains in the last half hour of trade and was able to end with a gain of 0.61% on the day.

Euro gold fell to about €664, platinum lost $5 to $1235.50, and copper fell over 11 cents to about $2.81.

Gold and silver equities traded roughly 3% lower for most of the morning before they rebounded a bit in afternoon trade, but they still ended with about 2% losses on the day.

Report	For	Reading	Expected	Previous
Chicago PMI	Aug	50.0	48.0	43.4

Tomorrow at 10AM EST brings Construction Spending for July expected at -0.2% and the ISM Index for August expected at 50.2.

Treasuries rose while the Dow, Nasdaq, and S&P fell with oil on renewed worries that the global economy is weaker than recent perceptions that have driven world equities markedly higher over the past 6 months.

The U.S. dollar index reversed early gains and ended lower as traders turned to the yen as the currency vehicle for risk aversion.

Among the big names making news in the market today were Disney and Marvel, Baker Hughes, and BJ Services, Cerberus, AIG, and Time Warner.

“August 2009 Comment: The government has handed over hundreds of billions of dollars in bailout aid intended to ensure the survival of corporations deemed "too big (i.e., too important) to fail," even though the present vulnerabilities and failings of these same entities have been largely brought upon themselves by their own missteps and strategic imprudence.

Meanwhile, the number of our unemployed population has been quietly growing (officially reckoned near 10%,) affecting households one painful job-loss at a time.

To the out-of-work individual, "too small to bail" psychologically translates into "too small to matter," that is, until Congress feels the need to begin pandering for votes during the next election cycle. Expect an escalation of budget-busting social programs in 2010, and more monetization of the debt by the Federal Reserve as the government fails to find anyone else willing to buy its tidal wave of bonds.

Stay tuned... "too small to bail" may take on a whole new connotation next year as our titanic economy begins to sink beneath this man-made flood of increasingly worthless currency and IOUs.

To get the latest Ed Stein releases and gold commentary by e-mail join the USAGOLD NewsGroup -- our free news and opinion service.”

“December Gold closed down 5.3 at 953.5. This was 9.2 up from the low and 0.5 off the high.

December Silver finished up 0.108 at 14.923, 0.007 off the high and 0.373 up from the low.

The gold market showed initial weakness and at times during the Monday morning trade, it seemed as if gold was at least partially undermined by the persistent weakness in US equities. The gold bulls might also be discouraged by the divergence between gold and silver prices during the Monday trade. With the US Dollar mostly holding in negative ground throughout most of the trading session, the bull camp in gold couldn't blame the action in the currency markets for the weakness in the gold market.

With the silver market managing to climb into positive ground in the afternoon action it was clear that silver was indeed diverging with gold and also outperforming the gold market. While the copper market managed to bounce 3 or 4 cents off its initial lows and crude oil managed a bounce off its initial lows, most physical commodity markets remained weak and therefore the recovery move in silver was quite surprising. With silver turning positive late in the trading session and the rest of the metals markets remaining weak, one could suggest that silver found something internal to react to.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.25 tonnes.

Rubicon’s (RBY) drilling update, Aurizon’s (AZK) exploration results, Allied Nevada’s (ANV) completed offering, and Great Basin’s (GBG) project finance credit approval 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.

Converge Global Expands Golden Twist in Northern Ontario - More
- August 31, 2009 | Item | E-mail

Chariot Shareholders Are Reminded to Vote the Blue Proxy to Instigate Positive Change Before Tomorrow's Deadline - More
- August 31, 2009 | Item | E-mail

Macarthur Minerals Limited: Shareholder Update - More
- August 31, 2009 | Item | E-mail

Amerpro signs property option agreement to acquire the SV Lithium Mineral Claims - More
- August 31, 2009 | Item | E-mail

Eagle Hill $3.175 Million Financing Fully Subscribed: First Tranche Closes - More
- August 31, 2009 | Item | E-mail

Uranium International Corp. Update of Option to Purchase HRU Licenses - More
- August 31, 2009 | Item | E-mail

Rodinia Minerals Inc.: Clayton Valley Lithium Project Drilling Update - More
- August 31, 2009 | Item | E-mail

High Grade Gold Discovered on Alexandria's Joannes Township Claims, Quebec - More
- August 31, 2009 | Item | E-mail

Tirex Resources Ltd.: Step Out Hole at Letitna Encounters 50.8m (167 ft) Zone of Mineralization; Including 1.0m of 37.84% Zinc, 0.94% Copper, 99.0 g/t Silver... - More
- August 31, 2009 | Item | E-mail

Blue Note Mining Mobilizes Drill Rig on Williams Brook Gold Property - More
- August 31, 2009 | Item | E-mail

Matamec's Rare Earths-Yttrium-Zirconium Kipawa Deposit is in Industrial Minerals Magazine September Issue! - More
- August 31, 2009 | Item | E-mail

Avion Announces Second Quarter 2009 Financial Results - More
- August 31, 2009 | Item | E-mail

New Directors Appointed to Kinbauri's Board - More
- August 31, 2009 | Item | E-mail

Chariot Resources Advises Shareholders: Annual General and Special Meeting Will Be Conducted With Utmost Fairness and Integrity - More
- August 31, 2009 | Item | E-mail

Orvana Announces Expiry of Bid and Additional Take Up of Kinbauri Shares - More
- August 31, 2009 | Item | E-mail

Romios Provides a Status Report on the Drill Program on Its Trek Property in British Columbia - More
- August 31, 2009 | Item | E-mail

Soltoro Ltd. Announces Resource Drill Program at El Rayo - More
- August 31, 2009 | Item | E-mail

Continental Precious Minerals Inc.: Update on HRU Licences - More
- August 31, 2009 | Item | E-mail

Cogitore Resources Resumes Drilling on Scott Lake's West Lens, While Initiating First NI43-101 Resource Estimate - More
- August 31, 2009 | Item | E-mail

Exploration underway on Latchford Gold Project - More
- August 31, 2009 | Item | E-mail

Bison Gold Resources Inc. Announces the Commencement of a 6,000m Diamond Drill Program on Its 100% Owned Central Manitoba Property - More
- August 31, 2009 | Item | E-mail

Zaruma Resources reports on TSX Listing review - More
- August 31, 2009 | Item | E-mail

Lake Victoria Receives Initial Gold Assay Result for Rock Dump Samples-Singida Gold Project, Tanzania - More
- August 31, 2009 | Item | E-mail

Liberty Star Raises Cash to Cover Claim Rental/Assessment Work and Corporate Purposes - More
- August 31, 2009 | Item | E-mail

Paladin Energy Ltd.: 30 June 2009 Appendix 4E - More
- August 31, 2009 | Item | E-mail

Paladin Energy Ltd: Year End June 2009 Conference Call and Investor Update-1st September 2009 - More
- August 31, 2009 | Item | E-mail

Orex Minerals Inc.: Geological Work Commences on Coneto Silver-Gold Project in Mexico - More
- August 31, 2009 | Item | E-mail

Romarco confirms mineralized zone between Ledbetter and Snake deposits - More
- August 31, 2009 | Item | E-mail

Mawson plans to drill at 4 uranium prospects at Hotagen, Sweden - More
- August 31, 2009 | Item | E-mail

MPH Ventures Issues Shares to Rubicon Minerals, Updated NI 43-101 Resource Calculation to be Completed - More
- August 31, 2009 | Item | E-mail

Full Metal Announces Zinc-Lead-Silver Exploration Programs Underway - More
- August 31, 2009 | Item | E-mail

Megastar to Be Featured on CEO Clips Airing on BNN - More
- August 31, 2009 | Item | E-mail

Cadillac Announces Termination of Tendal Project Initiative - More
- August 31, 2009 | Item | E-mail

Nevada Gold Holdings Inc. Secures $500,000 of New Financing - More
- August 31, 2009 | Item | E-mail

Canasia Industries Corporation: Visible Gold Intersected at Clone Property - More
- August 31, 2009 | Item | E-mail

MAX acquires Table Top gold project in Nevada; permitting underway for fall drill program - More
- August 31, 2009 | Item | E-mail

Midlands Minerals to Be Featured on CEO Clips Airing on BNN - More
- August 31, 2009 | Item | E-mail

Latin American Minerals Reports on Heads of Agreement Regarding the Tendal Massive Sulphide Zinc, Lead and Copper Project in Argentina - More
- August 31, 2009 | Item | E-mail

Blackstone Ventures Inc.: Environmental Court Rules in Favour of Blackstone's Work Program at Uma Project, Sweden - More
- August 31, 2009 | Item | E-mail

Chariot Announces That Second Independent Advisory Service, RiskMetrics, Recommends Shareholders Vote "FOR" Chariot's Slate of Directors - More
- August 31, 2009 | Item | E-mail

Extract Resources - Rossing South Exploration Update - Zone 3 Emerging - More
- August 31, 2009 | Item | E-mail

Yale Receives Approval for Second Tranche of Private Placement - More
- August 31, 2009 | Item | E-mail

Century reports second quarter 2009 financial results - More
- August 31, 2009 | Item | E-mail

Gemco extends industrial mineral agreements and procures loan financing - More
- August 31, 2009 | Item | E-mail

Consolidated Thompson Announces Estimated Indicated Resources of 935 Million Tonnes on Its Lamelee-Peppler Iron Property - More
- August 31, 2009 | Item | E-mail

Latin American Minerals Inc. Updates Press Release Dated August 14, 2009 Regarding $1.5 Million Financing - More
- August 31, 2009 | Item | E-mail

Cadan Announces 5:1 Share Consolidation - More
- August 31, 2009 | Item | E-mail

Adanac Obtains Extension of Stay Period under CCAA to November 30, 2009 - More
- August 31, 2009 | Item | E-mail

Revised Press Release - Xtierra engages T2W Market Liquidity - More
- August 31, 2009 | Item | E-mail

New Drilling Indicates More Than 20% Increase to Strike Length of Rubicon's F2 Gold System - "Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-AMEX) is pleased to provide an update on its drilling on its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. Five drill rigs are currently in operation on the project, three on surface and two from underground on the 122-metre level as part of the ongoing 80,000-metre drill program." More
- August 31, 2009 | Item | E-mail

High grade gold mineralization identified on surface on the Alexandria block, east of the Joanna gold project - "Aurizon Mines Ltd. (TSX: ARZ; NYSE Amex: AZK) is pleased to report the discovery of a high grade grab sample on surface, which is surrounded by an extensive gold anomaly, on the Alexandria claims block, east of the Joanna gold project. The Joanna property is located 20 kilometres east of Rouyn-Noranda, in north-western Quebec and the Alexandria block comprises nineteen (19) mineral claims optioned by Aurizon from Alexandria Minerals Corporation (see Aurizon news release dated September 15, 2008)." More
- August 31, 2009 | Item | E-mail

Allied Nevada Completes Cross-Border Public Offering - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV)(NYSE Amex:ANV) announced today that it has completed its previously announced cross-border public offering of 11,150,000 common shares at a price of Cdn$9.00 per share for aggregate proceeds of Cdn$100,350,000 (the "Offering")." More
- August 31, 2009 | Item | E-mail

Great Basin Gold Obtains Credit Approval For Burnstone Project Finance - "Great Basin Gold Ltd, ("Great Basin" or the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) today announced that it has obtained Credit approval thereby securing the finance facility for its Burnstone Project in South Africa. The facility consists of a ZAR850 million (US$106 million) senior debt facility and a ZAR180 million (US$23 million) standby debt facility to be utilized for potential cost overruns." More
- August 31, 2009 | Item | E-mail

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