Gold Seeker Closing Report: Gold and Silver Fall While Stocks Gain

	Close	Gain/Loss
Gold	$1057.65	-$6.45
Silver	$17.53	-$0.26
XAU	174.12	-0.13%
HUI	433.95	-0.76%
GDM	1295.10	-0.87%
JSE Gold	2598.33	+15.85
USD	75.05	-0.07
Euro	150.36	+0.24
Yen	109.56	-0.30
Oil	$81.84	-$0.12
10-Year	3.421%	+0.010
T-Bond	119.625	-0.15625
Dow	10081.31	+1.33%
Nasdaq	2165.29	+0.68%
S&P	1092.91	+1.06%

Gold traded mostly slightly lower in Asia and London and fell as much as $12.10 to $1051 by about 10AM EST before it spiked back higher in late morning trade to see a loss of just $1.95 by a little after 11AM EST, but it then fell back off a bit into the close and ended with a loss of 0.51%. Silver fell as much as $0.457 to $17.33 before it also rallied back higher in late morning New York Trade, but it then fell back off slightly in the last couple of hours of trade and ended with a loss of 1.46%.

Euro gold fell to about €705, platinum lost $4.50 to $1359, and copper fell nearly 4 cents to about $2.99.

Gold and silver equities traded mostly slightly lower and ended with small losses.

Report	For	Reading	Expected	Previous
Initial Claims	10/14	531K	515K	520K
Leading Indicators	Sep	1.0%	0.8%	0.4%
FHFA Housing Price Index	Aug	-0.3%	0.3%	0.3%

Tomorrow at 10AM EST brings Existing Home Sales for September expected at 5,350,000.

Oil fell slightly on mostly poor economic data that sent the U.S. dollar index modestly higher on risk aversion in early trade, but a strong stock market reversed that trade later in the day and oil ended just barely lower while the dollar reversed its decent gains to end lower as well.

Treasuries ended lower as the Dow, Nasdaq, and S&P reversed early losses and rose to find decent gains by the end of the day on mostly better than expected earnings reports.

Among the big names making news in the market today were Merck, AT&T, Caterpillar, UPS, Dow Chemical, Microsoft, New York Times, McDonald’s, Delta, and Xerox.

1. California moves east as New York nears a zero cash level. Think about this when you hear anything to do with stopping or curtailing QE.

2. Think about CIT’s major executive resignation before you become too happy about a $6 billion dollar loan from the private sector that would take the most senior debt level and therefore rights.

3. 1968 to 1980 was a dress rehearsal as far as gold and the US dollar are concerned today.

5. A permanent change in the US dollar’s international importance is in motion.

6. A permanent change in gold’s relationship to international reserves is in process.

7. A resurgence to the US dollar’s position of the reserve currency of choice is not going to happen.

9. Gold is going to re-enter both the qualified investment category as well as accepted, respected monetary asset categories.

Think now about the daily countdown by looking out the market window and seeing what is happening to the US dollar.

The countdown is to a point where it is clear that confidence in the US dollar has reached a point of no fast or meaningful return.

There are 18 days left, and it certainly looks like what has been anticipated in time cycle is in FACT happening.

I do not subscribe to the thesis that this phenomena is happening by mistake or miscalculation. Those observers that think financial leaders are stupid are wrong. It is the observer who is demonstrating stupidity.

What markets cannot stand now is a major geopolitical upset where energy is concerned.”- Jim Sinclair, JSMineset.com

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.22 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 75.26 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 8,612.57 - No change from yesterday’s data.

Rubicon’s (RBY) drill results, Gammon Gold’s (GRS) completed public offering, Revett’s (RVM.TO) completed payment obligation restructuring, U.S. Silver’s (USA.V) trading symbol change and Galena shaft repairs, and Silver Standard’s (SSRI) drill results 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.

Hindustan Zinc Limited Results for the Second Quarter and Half Year Ended 30 September 2009 - More
- October 22, 2009 | Item | E-mail

Goldrich Announces Appointment of William Schara as CEO - More
- October 22, 2009 | Item | E-mail

Moneta completes property transaction; Nighthawk Lake Project enhanced - More
- October 22, 2009 | Item | E-mail

Canaco Drills 41 Metres of 3.32 Grams Per Tonne-Confirms Continuity of Mineralization at Magambazi - More
- October 22, 2009 | Item | E-mail

Coronado Resources Ltd.: 2009 Diamond Drill Program Begins on High-Grade Madison Gold Copper Property in Montana, USA - More
- October 22, 2009 | Item | E-mail

Sage Adds Strategic Properties in Beardmore - More
- October 22, 2009 | Item | E-mail

Nanika Completes Stewart Mining Camp Drill Program on Indi - More
- October 22, 2009 | Item | E-mail

Silver Dragon's Sino-Top Joint Venture Awarded Prospector/Explorer of the Year at China Mining 2009 - More
- October 22, 2009 | Item | E-mail

Labrador Iron Mines and New Millennium rationalize Mineral Property ownership - More
- October 22, 2009 | Item | E-mail

Excel Gold Mining Publishes Weekly Updates Release of the Montauban Mine Drilling Campaign Progress - More
- October 22, 2009 | Item | E-mail

Revett Minerals Completes US$6.5 million Payment Obligation Restructuring - "Revett has completed an agreement with Royal Gold Inc. to restructure the final US$1.6 million due under its original Troy project financing royalty. In consideration for relieving this payable, the Company has agreed to reconfigure an existing gross smelter return ("GSR") production royalty at Troy. This restructured royalty will now be a flat rate 3% GSR at Troy commencing in July 2010, rather than a 6.1%/2% GSR which would have commenced at a later date under the original terms." More
- October 22, 2009 | Item | E-mail

Bayswater Executes Formal Agreement to Acquire Reno Creek Project, Wyoming - More
- October 22, 2009 | Item | E-mail

First Metals Welcomes New Board Members - More
- October 22, 2009 | Item | E-mail

Unauthorized Promotion SPAM Newsletter Regarding BONZ.OB and Skymark Research - More
- October 22, 2009 | Item | E-mail

Encouraging Field Program at Gossan's Separation Rapids Lithium Property - More
- October 22, 2009 | Item | E-mail

Strait Gold Completes Technical Report on Alicia Copper-Gold Project - More
- October 22, 2009 | Item | E-mail

Golden Phoenix Letter to the Shareholders - More
- October 22, 2009 | Item | E-mail

Acadian Mining announces final closing of $10 million private placement - More
- October 22, 2009 | Item | E-mail

Delta Uranium Commences Work on Its Wheeler River Properties in the Athabasca Basin - More
- October 22, 2009 | Item | E-mail

Orebodies to Acquire 100% Interest in 5 Lithium/REE Properties - More
- October 22, 2009 | Item | E-mail

Strathmore Executes Formal Agreement for Pine Tree-Reno Creek Sale to Bayswater Uranium Corporation - More
- October 22, 2009 | Item | E-mail

St. Elias Gives Formal Notice to Geneva Re Vilcoro Property Option Agreement - More
- October 22, 2009 | Item | E-mail

St. Elias Mines Ltd.: Tesoro Gold Project, Peru - More
- October 22, 2009 | Item | E-mail

Royal Standard Minerals, Inc. (RYSMF): Current Activities on Its Nevada Projects - More
- October 22, 2009 | Item | E-mail

Constantine Expands Area of Massive Sulphide and Reports Significant Off-Hole Geophysical Conductors Palmer Copper-Zinc VMS Project, Alaska - More
- October 22, 2009 | Item | E-mail

Amador Gold Samples 183.5 g/t Gold at Horwood Property - More
- October 22, 2009 | Item | E-mail

Northern Freegold Extends Gold Mineralization to the South From Resource Boundary in Step-Out Drilling at Nucleus Zone, Freegold Mountain Project, Yukon - More
- October 22, 2009 | Item | E-mail

Arianne Provides an Update on the Lac a Paul Phosphorus-Titanium Project - More
- October 22, 2009 | Item | E-mail

Golden Share Recovers 25.50 g/t Au on Surface and Completes Pistol Lake 2009 Drilling Program - More
- October 22, 2009 | Item | E-mail

Universal Intersects Gold in 13 of 14 Holes and Stakes Additional 2780 Acres - More
- October 22, 2009 | Item | E-mail

Crosshair Announces Concurrent Private Placements of Up to $4 Million - More
- October 22, 2009 | Item | E-mail

Alto Group Holdings Inc. Discovers Visible Gold in Veins at Alto-Ashanti Project, Ghana - More
- October 22, 2009 | Item | E-mail

African Aura Mining Inc. - Directors' Share Dealing - More
- October 22, 2009 | Item | E-mail

American Sierra Gold Corp. Update on Discovery Day Work Program and Technical Report - More
- October 22, 2009 | Item | E-mail

Bralorne Gold Mines Ltd.: 2009 Diamond Drill Program Commences to Expand BK Zone - More
- October 22, 2009 | Item | E-mail

Oro Gold Acquires Key Ground South of Trinidad Property, Mexico - More
- October 22, 2009 | Item | E-mail

USCorp A Gold and Silver Junior Exploration Mining Company Announces Technical Data Uploaded to Secure Website - More
- October 22, 2009 | Item | E-mail

Copper Fox announces the closing of a $2,000,000 Private Placement Unit Offering - More
- October 22, 2009 | Item | E-mail

Oro Silver Commences 5,000m Drill Program on El Compas Property, Zacatecas - More
- October 22, 2009 | Item | E-mail

Redstar and Fronteer Begin Drilling on Carlin Trend Gold Project - More
- October 22, 2009 | Item | E-mail

RiskMetrics Group and Glass Lewis & Co. Recommend Shareholders Vote to Approve Business Combination Between West Timmins Mining and Lake Shore Gold - More
- October 22, 2009 | Item | E-mail

Trelawney Appoints David Beilhartz Exploration Manager - More
- October 22, 2009 | Item | E-mail

Colombian Mines Announces Plans to Drill Yarumalito Gold Porphyry - More
- October 22, 2009 | Item | E-mail

Golden Dawn Minerals Acquires 100% Interest In Multiple Properties In The Cariboo Gold Belt, Surrounding the Wayside Discoveries, Central British Columbia - More
- October 22, 2009 | Item | E-mail

Great Western Minerals Group Engages Barr Engineering to Update Hoidas Lake Technical Report - More
- October 22, 2009 | Item | E-mail

Bannerman Intersects New Mineralised Zone & Announces Further Resource Drilling Results - More
- October 22, 2009 | Item | E-mail

Northland Resources Inc.: Kaunisvaara Technical Report Now Available - More
- October 22, 2009 | Item | E-mail

Touchdown Capital Options BC Gold Property - More
- October 22, 2009 | Item | E-mail

Teuton Resources Corp.: Hole #28 Cuts 12.80 Metres of 44.75 g/t Gold (42 Feet of 1.305 oz/t Gold) - More
- October 22, 2009 | Item | E-mail

Rubicon Continues to Expand F2 Gold Zone, Red Lake, Ontario - "Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-AMEX) is pleased to provide an update of drill results at its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. New results continue to expand the F2 Gold system, where 83,500 metres of drilling have been completed to date (see news releases since March 12, 2008 and www.rubiconminerals.com for details)." More
- October 22, 2009 | Item | E-mail

Gammon Gold Announces Completion of Public Offering - "Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS) has today completed the public offering of 12,926,000 common shares at a price of U.S.$8.90 per common share for gross proceeds of U.S.$115,041,400 (the "Offering"). The Offering was sold on a bought deal basis to a syndicate of underwriters led by BMO Nesbitt Burns Inc. and UBS Securities Canada Inc. and including Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Canaccord Capital Corporation and Research Capital Corporation, and includes 1,1686,000 common shares issued pursuant to the full exercise of the over-allotment option." More
- October 22, 2009 | Item | E-mail

U.S. Silver Reports on Trading Symbol Change & Galena Shaft Repairs - "U.S. Silver Corporation (TSX-V: USA, US OTC: USSIF)) (“US Silver” or “the Company”) is pleased to announce that its US over-the-counter trading symbol has been changed from “CYLPF” to “USSIF” effective immediately. The change was agreed with the Financial Industry Regulatory Authority (“FINRA”) in order to better align the symbol with the name of the Company and its symbol on the TSX-V. The Company’s common shares continue to be quoted on the “Pink Sheets” market under “USSIF”. The Company is also expecting trading status on the OTCQX market before year-end." More
- October 22, 2009 | Item | E-mail

Silver Standard Resources Inc.: Final Brucejack Area Diamond Drilling Results - "Silver Standard Resources Inc. (NASDAQ:SSRI - News)(TSX:SSO - News) is pleased to report the final results of the 2009 exploration program in the Brucejack area of its wholly-owned Snowfield Project. The Brucejack area of the property is located 62 kilometers north of the town of Stewart, and 5 - 7 kilometers south of the company's wholly-owned Snowfield Zone." More
- October 22, 2009 | Item | E-mail

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