Gold Seeker Closing Report: Gold and Silver End Well Off Their Overnight Lows with Slight Losses

	Close	Gain/Loss
Gold	$999.25	-$4.55
Silver	$16.57	-$0.10
XAU	167.02	-1.22%
HUI	419.57	-1.53%
GDM	1251.22	-1.56%
JSE Gold	2576.72	-72.60
USD	76.71	+0.03
Euro	146.33	+0.64
Yen	109.99	-0.26
Oil	$68.86	-$0.43
10-Year	3.406%	+0.063
T-Bond	121.25	-0.625
Dow	9626.80	+0.22%
Nasdaq	2091.78	+0.52%
S&P	1049.34	+0.63%

Gold fell in late Asian trade to as low as $993.14 by about 5AM EST before it rallied back higher for most of the rest of trade, but it still ended with a loss of 0.45%. Silver followed a similar pattern and ended well off its low of $16.298 with a loss of 0.60%.

Euro gold fell to about €684, platinum lost $5.50 to $1310.50, and copper fell four cents to about $2.79.

Gold and silver equities fell about 1.5% at the open and remained at about that level for the rest of the day.

There were no major economic reports today. Tomorrow at 8:30AM EST brings PPI for August expected at 0.8%, Core PPI expected at 0.1%, Empire Manufacturing for September expected at 15.00, and Retail Sales for August expected at 1.9%. Excluding autos, sales are expected at 0.4%. At 10AM is the Business Inventories report for July expected at -0.8%.

Oil fell as the U.S. dollar index found slight gains on worries over a trade spat with China.

Treasuries fell as the Dow, Nasdaq, and S&P rebounded form early losses and ended modestly higher on hopes for signs of improving economic growth from several reports due out over the next few days.

Among the big names making news in the market today were Sprint, Lilly, Avaya and Nortel, Chevron, and NEC, Casio, and Hitachi.

Size and major risk have been confirmed for those with the eyes to see and the ears to hear. It is exactly what I have been teaching.

Unless financial instruments have accurate means of daily valuation, there is no way to clear them.

OTC derivatives outstanding from 1991 to 2008 have no sound means of true valuation in any time frame, certainly not from day to day.

The Bank for International Settlements is for the first time proposing the world’s central banks take over the financial risk of the entire mountain of more than one quadrillion one hundred and forty four trillion dollars (valuation before the change to "value to maturity" method valuation of nominal value of OTC derivatives) of OTC derivatives created from 1991 to 2008.

The reason is simple. This unchanged in size mountain of weapons of mass financial destruction as still sitting there ready to explode in the second chapter of the greatest double dip depression of 2007 – 2009.

Now do you understand why China is buying raw materials, entering joint ventures and purchasing energy and raw material companies while utilizing their dollar instruments for payment?”- Jim Sinclair, JSMineset.com

“December Gold closed down 5.3 at 1001.1. This was 2.8 up from the low and 3.7 off the high.

December Silver finished down 0.077 at 16.623, 0.072 off the high and 0.128 up from the low.

A big range down extension in gold seemed to be largely the result of fears of a near term rise in the US Dollar. Apparently the markets think that a US/Chinese trade war would push money toward the Greenback and that seemed to foster profit taking in a host of physical commodities like gold. It is also likely that the gold market was seeing profit taking by some longs that were uncomfortable with the magnitude of the long positioning in the latest COT reports. While gold tried to recover from the initial hard down trade, the bull camp didn't seem to get much mileage off the talk that Central Bankers might become net buyers of gold in the second half of 2009. With the recovery in the US stock market and the Dollar failing to hold all of its initial gains, it wasn't surprising to see the gold market end up rejecting a noted portion of its initial losses.

The silver market started out under moderate pressure, attempted to recover but in the end the market could never completely abandon the downward bias. While a strong Dollar seemed to justify the initial washout, a mid day recovery in the US equity markets failed to prompt much of a sustained bounce in silver prices and according to some traders the ongoing threat of a US/China trade war was something that kept some buyers on the sidelines.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.82 tonnes and the JSE added 0.49 tonnes.

Rubicon’s (RBY) drill results, Yamana’s (AUY) projects update, Exeter’s (XRA) resource estimate, Apollo’s (AGT) production update, Anatolia’s (ANO.TO) drilling, First Majestic’s (FR.TO) plans to acquire Normabec, Minefinders’ (MFN) resource report, MAG’s (MVG) scoping study, Bear Creek’s (BCM.V) prefeasibility study, Silver Standard’s (SSRI) drill results, and ECU’s (ECU.TO) deferred granting of options 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.

Jaxon commences exploration and drilling at Nox Fort - More
- September 14, 2009 | Item | E-mail

Cortez Resources Arranges Private Placement for Acquisition of Seabridge Gold's Mineral Properties in Nevada - More
- September 14, 2009 | Item | E-mail

Gold Resource Corporation -- Update Letter to Shareholders - More
- September 14, 2009 | Item | E-mail

Conway Resources Completes Private Placement - More
- September 14, 2009 | Item | E-mail

Golden Predator Closes $7,000,000 Unit Private Placement - More
- September 14, 2009 | Item | E-mail

1141.54g/t gold (33.33 ounces per ton) across 2.0m - Roxmark reports bonanza-grade gold zone at Hardrock Project joint venture with Premier - More
- September 14, 2009 | Item | E-mail

Commerce Resources Corp. Closes $6.6 Million Private Placement - More
- September 14, 2009 | Item | E-mail

Trelawney Announces Board Appointment - More
- September 14, 2009 | Item | E-mail

Lithium Americas Corp. Announces Closing of $7.5 Million Financing Including Investment With Strategic Investor - More
- September 14, 2009 | Item | E-mail

Azteca Gold Corp.: Two Mile Clarification Update Regarding QA/QC Protocols, Regulatory Reviews and Trading Resumption - More
- September 14, 2009 | Item | E-mail

Redhawk Engages Investor Relations Consultant - More
- September 14, 2009 | Item | E-mail

KWG Resources Inc. Signs Amendment to Option Agreement for McFaulds Joint Venture Property with Freewest Resources Canada Inc. and Spider Resources Inc. - More
- September 14, 2009 | Item | E-mail

Kodiak Drills High Grade Gold at West Geraldton and Brenbar - More
- September 14, 2009 | Item | E-mail

Consolidated Abaddon to Earn 100% Interest in a Lithium Property and a Rare Earth Property - More
- September 14, 2009 | Item | E-mail

Gabriel Reports Significant Progress in Public Recognition of its Rosia Montana Project at the Denver Gold Show - More
- September 14, 2009 | Item | E-mail

Freewest Resources Canada Inc. Signs Amendment to Option Agreement for McFaulds Joint Venture Property With KWG Resources Inc. and Spider Resources Inc. - More
- September 14, 2009 | Item | E-mail

Evolving Gold Identifies New Zone of Mineralization At Rattlesnake Hills, Wyoming - More
- September 14, 2009 | Item | E-mail

Drilling Intersects 28.4 Meters of 7.3 grams/tonne Gold in DDH-Mon-2009-3 - More
- September 14, 2009 | Item | E-mail

Kiska Metals Corporation: Drilling Commences at Whistler, Alaska - More
- September 14, 2009 | Item | E-mail

Premier discovers high-grade gold zone at Hardrock - 1141.54 g/t Au (33.33 ounces per ton) across 2.0m - More
- September 14, 2009 | Item | E-mail

8.5 g/tonne Gold and 446 g/tonne Silver Over 2 Meters Starting at 4 Meters Reported on Mabel Property Mexico in Recent Diamond Drilling Program - More
- September 14, 2009 | Item | E-mail

Report Shows Long Term Benefits of Gold Mining to Developing Economies - "The new report, ‘The Golden Building Block: gold mining and the transformation of developing economies’, authored by Maureen Upton, Sustainability Advisor to World Gold Council, considers the macroeconomic benefits of gold production in developing countries. The report takes into account the well-debated resource curse theories, and examines evidence of actual contributions through an in-depth case study of Tanzania and the effects of gold mining on its economy over a 40-year period." More
- September 14, 2009 | Item | E-mail

Iberian Minerals Issues Update on Aguas Tenidas Polymetallic Circuit - More
- September 14, 2009 | Item | E-mail

BCGold Corp.-Kaminak Gold Corp. Ammend Voigtberg Agreement - More
- September 14, 2009 | Item | E-mail

Uracan Resources Joins the "AGORACOM 100" and Launches Online IR and Marketing Program - More
- September 14, 2009 | Item | E-mail

Argentex receives first Mineral Resource Estimate for Pinguino; recommendation for preliminary economic assessment (PEA) and new exploration program - More
- September 14, 2009 | Item | E-mail

Silver Dragon Discovers 30.6 Meters Averaging 308.9 g/t Silver in Initial Drill Hole At Dadi Polymetallic Project in Northern China - More
- September 14, 2009 | Item | E-mail

Royal Roads & Benton discover new copper sulphide zone on Long Range Joint Venture, Newfoundland - More
- September 14, 2009 | Item | E-mail

Canadian Mining's Bullard Pass Gold Project Capitalizes on the Past - More
- September 14, 2009 | Item | E-mail

Andean Resources Appoints Richard Leclerc as VP Operations - More
- September 14, 2009 | Item | E-mail

Underworld Increases Land Holdings Surrounding the Golden Saddle Discovery - More
- September 14, 2009 | Item | E-mail

Champion Minerals Completes Financing - More
- September 14, 2009 | Item | E-mail

SEMAFO Diamond Drilling Program Successfully Expands Wona Mineralisation At-Depth - More
- September 14, 2009 | Item | E-mail

Inmet Mining Announces Termination of Discussions for Potential Transaction with Korea Resources Corporation - More
- September 14, 2009 | Item | E-mail

Golden Minerals Provides Update of El Quevar Resource Estimate - More
- September 14, 2009 | Item | E-mail

Ireland Inc. Launches Investor Relations Campaign - More
- September 14, 2009 | Item | E-mail

Sandstorm Resources Acquires Gold Stream From Santa Fe Gold Corporation - More
- September 14, 2009 | Item | E-mail

Canadian Gold Hunter Corp.: Drilling at Zymo Project Significantly Expands Hobbes Copper/Gold Zone - More
- September 14, 2009 | Item | E-mail

Red Back Mining Inc.: Tasiast Reserves Grow to 3 Million Oz - More
- September 14, 2009 | Item | E-mail

New Dawn's Turk Mine in Zimbabwe - August 2009 Represents 5th Consecutive Month of Increased Gold Production - More
- September 14, 2009 | Item | E-mail

Advanced Explorations Inc. Announces $450,000 Private Placement - More
- September 14, 2009 | Item | E-mail

Northern Gold and ValGold Complete Option Agreement on Garrison Gold Property - More
- September 14, 2009 | Item | E-mail

Kaminak and BCGold Corp. Amend Agreement on Voigtberg Au-Cu Project, Northwest British Columbia - More
- September 14, 2009 | Item | E-mail

Kirrin Resources Announces 2009 Exploration Plans for Boxey Point Uranium Project - More
- September 14, 2009 | Item | E-mail

Jinshan Secures RMB 290 Million (US$42 Million) Term Loan From the Agricultural Bank of China - More
- September 14, 2009 | Item | E-mail

Petaquilla Minerals Ltd. Reduces Debt Position - More
- September 14, 2009 | Item | E-mail

Dana Poised to Take Advantage of Recent Rise in Base Metal Prices - More
- September 14, 2009 | Item | E-mail

Merc Engages SRK to Complete a NI 43-101 Compliant Resource Estimate - More
- September 14, 2009 | Item | E-mail

Santa Fe Gold Announces Gold Sale Agreement - More
- September 14, 2009 | Item | E-mail

Andean Resources Ltd.: Step Out Drilling Extends the Bajo Negro Vein by Another 300 Metres - More
- September 14, 2009 | Item | E-mail

Gold mine production costs break through $600/ounce level once more as output jumps higher -GFMS - "An increase of 7% in world gold mine production the first half of 2009 was accompanied by a 7% increase in production costs between the first and second quarters of the year to take costs at primary gold mines to more than $600/ounce, according to the recently-released update to GFMS' authoritative Gold Survey 2009. Total cash costs for the half-year overall remained contained at $457/ounce, with a fall in the first quarter and renewed increases in the second. Even so, the costs in the second quarter of the year were not as high as those in the third quarter of 2008, when total production costs reached $623/ounce." More
- September 14, 2009 | Item | E-mail

First Majestic to Acquire Normabec Mining Resources - "First Majestic Silver Corp. ("First Majestic") (TSX:FR - News) and Normabec Mining Resources Ltd. ("Normabec") (TSX VENTURE:NMB - News; FRANKFURT:N6M - News) have entered into a definitive agreement (the "Agreement") whereby First Majestic will acquire Normabec. The transaction will be an all-share transaction by way of plan of arrangement (the "Arrangement")." More
- September 14, 2009 | Item | E-mail

Minefinders Reports First NI 43-101 Compliant Resource for Its La Bolsa Property - "Minefinders Corporation Ltd. (TSX:MFL - News)(AMEX:MFN - News) is pleased to report the first NI 43-101 compliant resource estimation for its 100 percent owned La Bolsa property located in northern Sonora, Mexico. At a nominal 0.25 grams per tonne ("gpt") gold cutoff, the measured and indicated resource estimate includes 15.9 million tonnes grading 0.706 gpt gold and 9.4 gpt silver totaling 360,000 ounces of gold and 4.8 million ounces of silver. An additional 47,000 ounces of gold with 480,000 ounces of silver at the same cutoff are classified as inferred resources." More
- September 14, 2009 | Item | E-mail

MAG Silver Reports on Juanicipio Scoping Study-Valdecanas "Stand-alone" Development - "MAG Silver Corp. (TSX:MAG - News)(AMEX:MVG - News) ("MAG") is pleased to announce the results of the independent Scoping Study ("Stand-alone Plan") for development of the Valdecanas Vein as a potential stand-alone silver mine. The Stand-alone Plan was carried out by Wardrop, a Tetra Tech Company, ("Wardrop") as independent engineers mandated by Minera Juanicipio S.A. de C.V. ("Minera Juanicipio"), the joint venture company owned 44% by MAG and 56% by Fresnillo plc ("Fresnillo"). The Stand-alone Plan does not take into account any potential synergies from developments completed and/or recently announced on the adjoining property owned by Fresnillo." More
- September 14, 2009 | Item | E-mail

Rubicon Hits Significant New High-Grade Gold in Drilling Southwest of F2 Gold Zone, Red Lake, Ontario - "Drill hole 122-10, collared underground from the 122-metre level, has returned a significant interval of 0.40 oz/ton gold over 147.3 feet (13.7 g/t gold over 44.9 metres) including a higher grade section of 0.83 oz/ton gold over 59.0 feet (28.4 g/t gold over 18.0 metres) at a vertical depth of 2208 feet (673 metres) (see Table 1 and Figures 1 and 2, below). These intervals include bonanza grade sections of 3.25 oz/ton gold over 6.6 feet (111.5 g/t gold over 2.0 metres) and 3.82 oz/ton gold over 4.9 feet (130.9 g/t gold over 1.5 metres)." More
- September 14, 2009 | Item | E-mail

Yamana Provides Development Stage Projects Update - "YAMANA GOLD INC. (TSX:YRI - News; NYSE:AUY - News; LSE:YAU - News) today announced updates to its development projects, Mercedes in Mexico and Agua Rica in Argentina." More
- September 14, 2009 | Item | E-mail

Exeter Reports Resource Estimate of 19.6 Million Ounces Gold and 4.8 Billion Pounds Copper for Caspiche Project in Chile - "Exeter Resource Corporation (TSX-V:XRC - News)(AMEX:XRA - News)(Frankfurt:EXB - News) ("Exeter" or the "Company") is pleased to provide an updated National Instrument 43-101 compliant inferred mineral resource estimate for its Caspiche Project of 1,117 Mt (million metric tons) at a grade of 0.55 g/t gold (grams per metric ton) and 3.81 g/t silver including 1,017 Mt at a grade of 0.22% copper. This equates to in-situ inferred resources of 19.6 million ounces of gold, 137 million ounces of silver and 4.84 billion pounds of copper (a total of 33.7 million gold equivalent ounces)(i). The resource estimate uses all data available to the end of the 2008/2009 drilling campaign in May." More
- September 14, 2009 | Item | E-mail

Bear Creek announces robust Corani prefeasibility study; over 250 million ounces of silver converted to reserves - "Bear Creek Mining Corporation (TSX Venture: BCM - News; "Bear Creek" or the "Company") is very pleased to announce the results of a positive Prefeasibility Study ("PFS"),) as defined by NI-43-101 for its 100% owned Corani silver-lead-zinc deposit located in southern Peru. Highlights of this study include (all figures in US dollars):" More
- September 14, 2009 | Item | E-mail

Black Fox Production Update and Development Plan - "Apollo Gold Corporation (“Apollo” or “we”) (TSX: APG - News) (NYSE Amex: AGT) is pleased to update the market on its production and development plans for the balance of 2009 and the year 2010 at its Black Fox mine located near Timmins, Ontario." More
- September 14, 2009 | Item | E-mail

Eldorado and Sino Gold: Satisfaction of Due Diligence Conditions - "Eldorado Gold Corporation ("Eldorado") (TSX:ELD - News)(AMEX:EGO - News) and Sino Gold Mining Limited ("Sino Gold") (ASX:SGX - News)(SEHK:1862 - News) are pleased to report that the due diligence conditions contained in their Scheme Implementation Deed have been satisfied and accordingly their scheme of arrangement transaction is no longer subject to these conditions." More
- September 14, 2009 | Item | E-mail

Anatolia begins Copler sulfide drilling - "Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX: ANO - News) announces drilling has started at the Copler Gold Project ("Copler") in eastern central Turkey. This drill program is a continuation of the sulfide development program started during 2008." More
- September 14, 2009 | Item | E-mail

Silver Standard Resources Inc.: Drilling Expands Snowfield Zone - "Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) is pleased to report that diamond drilling at its wholly-owned Snowfield Project continues to deliver wide intersections of gold-copper mineralization in the Snowfield Zone and expand its dimensions. The property is located 65 kilometers north of the town of Stewart and 15 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek." More
- September 14, 2009 | Item | E-mail

ECU Silver Defers Grants of Options - "ECU Silver Mining Inc. (TSX:ECU - News) - On September 12, 2009, the Company announced that its Board of Directors had granted various common share purchase options pursuant to its stock option plan. The Company wishes to announce that upon further review, the Board of Directors has elected to defer the issuance of the Options at this time." More
- September 14, 2009 | Item | E-mail

ECU Silver Grants Options - "In accordance with the Company's Stock Option Plan, as at September 9, 2009 the Company has granted Options on 10,825,000 common shares of the Company to directors, officers, consultants and employees of the Company. The Options will be exchangeable into common shares of the Company at a price of $0.60 per common share. This represents a premium of 18% over the 10-day average closing price of ECU Common Shares of $0.51 ending September 9, 2009." More
- September 14, 2009 | Item | E-mail

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