Gold Seeker Closing Report: Gold and Silver End Nicely Higher While Stocks Fall

	Close	Gain/Loss
Gold	$1007.70	+$15.10
Silver	$16.62	+$0.48
XAU	165.41	+1.32%
HUI	418.65	+1.94%
GDM	1245.38	+1.81%
JSE Gold	2439.74	+49.01
USD	76.72	-0.40
Euro	146.42	+0.54
Yen	111.47	+0.42
Oil	$70.61	+$3.90
10-Year	3.307%	+0.015
T-Bond	121.375	-0.25
Dow	9712.28	-0.31%
Nasdaq	2122.42	-0.08%
S&P	1057.08	-0.33%

Gold saw slight gains in Asia and rose over 1% in London to as high as $1004.17 by about 8:30AM EST before it fell to see only a $1.80 gain at $994.40 by around 10AM EST in New York, but it then stormed back higher in the last three and a half hours of trade and ended near and ended near its late session high of $1009.20 with a gain of 1.52%. Silver followed a similar pattern and ended near its high of $16.64 with a gain of 2.97%.

Euro gold rose to about €688, platinum gained $24 to $1292, and copper gained nearly 10 cents to about $2.81.

Gold and silver equities rose over 1% at the open before they fell to see over 1% losses by midmorning, but they then rallied back higher for most of the rest of trade and ended with almost 2% gains.

Report	For	Reading	Expected	Previous
ADP Employment	Sep	-254K	-200K	-277K
GDP	Q2	-0.7%	-1.2%	-1.0%
Chicago PMI	Sep	46.1	52.0	50.0

Tomorrow at 8:30AM EST brings Personal Income for August expected at 0.1%, Personal Spending expected at 1.1%, and Initial Jobless Claims expected at 535,000. At 10AM is Construction Spending for August expected at -0.1%, the ISM Index for September expected at 54.0, and Pending Home Sales for August expected at 1.0%.

Oil jumped back above $70 on signs of rising gasoline demand after the Energy Information Administration reported that crude inventories rose 2.8 million barrels, gasoline inventories fell 1.6 million barrels, and distillates rose 300,000 barrels.

The U.S. dollar index and treasuries fell after the Dow, Nasdaq, and S&P rallied back from over 1% losses in the seen first hour of trade and rose to see slight gains by early afternoon as traders moved past the mostly disappointing economic data, but stocks then fell back off a bit in late trade and ended modestly lower as traders squared positions on this last day of the third quarter.

Among the big names making news in the market today were Wal-Mart, Kraft and Cadbury, Chevron, Ameriprise, Kohl’s, U.S. Steel, and Nucor.

It would appear that yesterday’s move higher in the mining shares as reflected by the up day for the HUI was a precursor of things to come in the gold pit. With the HUI popping back above both its 10 and 20 day moving averages, momentum buying was seen in the Comex gold pit with it too moving back above both of the same moving averages. The ten day had only recently turned down giving some reason for concern but a couple of consecutive closes above that level, and further short covering should be seen.

Today’s strength in gold puts it into position to take on stronger selling resistance that has thwarted its further upward progress over the last couple of weeks. Bullion bank selling centered around $1,020 has held it in check and prevented it thus far from eclipsing its previous all time high above $1,030.

Technical support surfaced first near the 987 – 985 level on the recent setback with that support having moved up to near 995. That will be the level to watch if we get any further price weakness to see if the same crowd makes their presence felt once again.

With the Dollar appearing to be bear flagging on its technical price chart, gold bulls should have the wind at their back. The greenback is looking very vulnerable here and the fact that it could not manage more than a meager 2 cent blip before sellers moved in is quite foreboding. If the specs decide to really go after it, 76 could fall and with that fall, it goes to 74 and gold will crack $1,030.

The Fed has boxed itself into a horrible corner as their inability to raise rates to protect the Dollar has left it defenseless. About the only thing that is providing any sort of support for it is the rapidly fading, “safe haven” status that has brought buying into Treasuries and the greenback during any sort of equity slide. That will only go so far since carry traders will beat the Dollar to oblivion, in much the same fashion as they once did to the Japanese Yen. I have long believed that the US monetary authorities, protestations to the contrary, favor a weakening Dollar not only to help with export competitiveness but also as a means to inflate away the gargantuan sums of indebtedness that the nation is incurring.

Were it not for the fact that the British Pound is perhaps devaluing at a faster rate than the US Dollar, the greenback would probably already be below 76. A quick glimpse of the gold chart, priced in terms of British Pounds, reveals the debauchery of that currency and explains why gold continues to garner buying support on any price dips. Simply put – investors who are tuned into what is happening know all too well what their respective monetary authorities are doing and will have no part in allowing their wealth to be pilfered by these thieving politicians and monetary lords…”- Dan Norcini, More at JSMineset.com

Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.15 tonnes.

Taseko’s (TGB) completed convertible bonds repurchase, Gammon’s (GRS) drill results, Northgate’s (NXG) closed offering, ITH’s (THM) drill results, and Silvermex’s (SMR.V) closed financing 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.

Fieldex announces private placement of up to $2 million - More
- September 30, 2009 | Item | E-mail

J-Pacific Receives Quebec Mineral Investment Refund - More
- September 30, 2009 | Item | E-mail

Nevada Exploration Appoints Jennifer Boyle to Board of Directors - More
- September 30, 2009 | Item | E-mail

Queenston Closes Second Tranche of $17 Million Financing - More
- September 30, 2009 | Item | E-mail

Claim Post Resources Announces Private Placement - More
- September 30, 2009 | Item | E-mail

Duncan Park Announces Proposed Private Placement - More
- September 30, 2009 | Item | E-mail

Pan Pacific Metal Mining Corporation announces acquisition of additional common shares of Selwyn Resources Ltd. - More
- September 30, 2009 | Item | E-mail

Energy Fuels Granted Special Use Permit for Pinon Ridge Mill by Montrose County - More
- September 30, 2009 | Item | E-mail

Goldcliff Defines Targets in the Copper Mountain Copper-Gold Trend - More
- September 30, 2009 | Item | E-mail

Pebble Creek announces appointment of new directors and officer, the repricing of outstanding stock options, the grant of new stock options and adoption of .. - More
- September 30, 2009 | Item | E-mail

Rusoro Mining Ltd. - Revised Information Circular - More
- September 30, 2009 | Item | E-mail

Jalna Minerals Ltd. Appoints New Chief Financial Officer - More
- September 30, 2009 | Item | E-mail

Taseko Purchases Convertible Bonds and Secures Debt Financing Packages - "Taseko Mines Limited (TSX: TKO; NYSE AMEX: TGB) ("Taseko" or the "Company") is pleased to announce that it has recently completed the repurchase of the remaining US$10 million of Convertible Bonds. The entire US$30 million of Convertible Bonds were repurchased from June to August out of working capital." More
- September 30, 2009 | Item | E-mail

Abitex updates uranium-gold exploration programs in Otish Mountains - More
- September 30, 2009 | Item | E-mail

Gammon Gold Announces Discovery of Significant Mineralization at Santa Eduviges, Las Molinas and San Amado at Ocampo and Provides an Update - "Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): Gammon is pleased to announce the discovery of significant mineralization at the Santa Eduviges, Las Molinas and San Amado areas at its flagship Ocampo operation together with an overall update its ongoing 2009 exploration programs." More
- September 30, 2009 | Item | E-mail

Kalahari Resources Options Extension of T-8 Anomaly Where Previous Drilling Intersected 236.57 g/T Gold Over 0.88 Meters and Begins Planning Drill Program - More
- September 30, 2009 | Item | E-mail

Alexandria Options Val d'Or Property to Kalahari Resources - More
- September 30, 2009 | Item | E-mail

Jazz obtains permit for Spider property - More
- September 30, 2009 | Item | E-mail

Diadem Announces Director Change - More
- September 30, 2009 | Item | E-mail

African Copper Plc: Extension of Loan Facility - More
- September 30, 2009 | Item | E-mail

Golden Hope Mines Ltd.: Bulk Sampling Program Underway on the Bellechasse (Timmins) Gold Deposit to Determine Average Grade - More
- September 30, 2009 | Item | E-mail

Amex announces the 2009 drill results - More
- September 30, 2009 | Item | E-mail

Unico, Inc. Announces Plan for New Tailings Pond at the Deer Trail Mine - More
- September 30, 2009 | Item | E-mail

Canadian Mining Announces Million Dollar Deal with Mayen Minerals - More
- September 30, 2009 | Item | E-mail

NAP Closes C$50 Million Bought Deal Unit Offering - More
- September 30, 2009 | Item | E-mail

Colossus Minerals Drills 70.70 Metres @ 53.59 g/t Gold, 20.77 g/t Platinum and 31.30 g/t Palladium - More
- September 30, 2009 | Item | E-mail

TintinaGold Resources Inc. (Formerly Mantra Mining Inc.) Receives Shareholder and Court Approval for Spin-Out of Asiabasemetals Inc.: Announces Closing Schedule - More
- September 30, 2009 | Item | E-mail

Excel Gold Mining Inc. is Pleased to Announce That it has Secured the Mining Permit for the Montauban Mining Camp and Mining Equipment Arriving - More
- September 30, 2009 | Item | E-mail

Consolidated Abaddon Begins Exploration on Raleigh Lake Lithium Project - More
- September 30, 2009 | Item | E-mail

Dia Bras Develops Access to Massive High-Grade Copper-Zinc Mineralization at Bolivar - More
- September 30, 2009 | Item | E-mail

High River Gold Announces Appointment of New Board Member - More
- September 30, 2009 | Item | E-mail

REMINDER: Orex and Osisko to Partner in Development of Goldboro Property - More
- September 30, 2009 | Item | E-mail

Underworld's Initial Metallurgical Test Results Show Excellent Gold Recoveries - More
- September 30, 2009 | Item | E-mail

Capella Discovers Rare Earth Mineralization at Wentworth - More
- September 30, 2009 | Item | E-mail

American Sierra Gold Corp. Announces Urique Project Status - More
- September 30, 2009 | Item | E-mail

Tombstone Exploration Corporation Secures Ten New Claims in the Prolific Tombstone Mining Silver District - More
- September 30, 2009 | Item | E-mail

Northern Star Announces Further Drill Results From Malartic-Midway Project - More
- September 30, 2009 | Item | E-mail

Merrex Modifies Jubilee LOI - More
- September 30, 2009 | Item | E-mail

Serengeti Appoints New Auditors - More
- September 30, 2009 | Item | E-mail

Oroco Announces New and Updated Drill Intercepts - More
- September 30, 2009 | Item | E-mail

Rockcliff Retains Public Affairs/Media Relations Consultant - More
- September 30, 2009 | Item | E-mail

Tournigan Sells Curraghinalt Gold Project - More
- September 30, 2009 | Item | E-mail

Eagle Hill Obtains Approval to Acquire Windfall Lake Project and Closes $2.25 Million Tranche - More
- September 30, 2009 | Item | E-mail

Sutter Gold Announces Management Changes - More
- September 30, 2009 | Item | E-mail

Avion Gold Extends Segala Main Zone Plunge by 50% (200 Metres Vertically) - More
- September 30, 2009 | Item | E-mail

EMX Corporate Update and Addition of New Business Unit - More
- September 30, 2009 | Item | E-mail

Alix Acquires Two Claim Groups in Stewart BC Adjoining Canasia and in Vicinity of Decade Resources - More
- September 30, 2009 | Item | E-mail

Nemaska Exploration Acquires Lac des Montagnes Lithium Showing - More
- September 30, 2009 | Item | E-mail

Northgate Announces Closing of C$100 Million Common Share Offering - "Northgate Minerals Corporation (TSX:NGX - News)(AMEX:NXG - News) ("Northgate" or the "Corporation") is pleased to report that it has closed its previously announced bought deal offering (the "Offering") in which a syndicate of underwriters purchased 34,300,000 common shares at a price of C$2.92 for aggregate gross proceeds of C$100,156,000." More
- September 30, 2009 | Item | E-mail

Silvermex Resources Ltd. Closes Non-Brokered Financing of $774,180 - "Silvermex Resources Ltd. (TSX-V:SMR - News) (the "Company") announces that further to its news release dated August 13, 2009, it has closed the non-brokered private placement of 4,554,000 units (the "Units") at a price of $0.17 per Unit for gross proceeds of $774,180. Each Unit consists of one common share and one share purchase warrant. Each warrant (a "Warrant") will entitle the holder to purchase an additional common share for a period of 12 months from closing at a price of $0.20 per share." More
- September 30, 2009 | Item | E-mail

International Tower Hill Expands the Sunshine Zone at Livengood Gold Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") is pleased to announce assay results for 21 new drill holes at the Livengood Gold Project, Alaska. Drilling in the Sunshine Zone (Northeast of the Core Zone) continues to expand the known mineralized area both to the south and west while continuing to demonstrate the continuity of mineralization within the zone (Figure 1, Table 1). These drill results will be incorporated into an updated resource estimate scheduled for release early in the fourth quarter of 2009." More
- September 30, 2009 | Item | E-mail

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