Gold Seeker Closing Report: Gold and Silver Gain a Third Straight Session While Fed Holds

	Close	Gain/Loss
Gold	$1086.70	+$2.10
Silver	$17.34	+$0.17
XAU	169.67	+0.79%
HUI	430.12	+0.90%
GDM	1282.99	+0.86%
JSE Gold	2554.27	+126.09
USD	75.69	-0.64
Euro	148.77	+1.59
Yen	110.33	-0.41
Oil	$80.40	+$0.80
10-Year	3.546%	+0.073
T-Bond	118.09375	-0.96875
Dow	9802.14	+0.31%
Nasdaq	2055.52	-0.09%
S&P	1046.50	+0.10%

Gold saw slight losses in Asia and then rose almost 1% to as high as $1095.25 by early trade in London before it pulled back under $1090 around 8AM EST and then rose to a new all-time high of $1095.42 by a little before noon EST, but it then fell back off in the last couple of hours of trade and ended with a gain of just 0.19%. Silver followed a similar pattern and ended over 1% from its session high of $17.60 with a gain of 0.99%. At the time of writing, both metals are also climbing to new highs in after hours access trade.

Euro gold fell to about €732, platinum gained $6 to $1358.50, and copper gained a few cents to about $2.98.

Gold and silver equities rose over 2% in the first hour of trade before they fell to see slight losses by mid-afternoon and then climbed back near their earlier highs after the fed’s statement was released, but they then fell back off a bit in late trade along with the major indices and ended with less than 1% gains.

Report	For	Reading	Expected	Previous
ADP Employment	Oct	-203K	-198K	-227K
ISM Services	Oct	50.6	51.5	50.9

The FOMC Rate Decision kept the fed funds rate in its target range of 0.00% to 0.25%, as expected. They said that they believe inflation remains subdued and that they will keep rates exceptionally low for an extended period. Some were looking for a change in their language to perhaps open the door for an increase in rates at some point in the foreseeable future, but it appears that there will not be a change any time soon.

Tomorrow at 8:30AM EST brings third quarter Productivity expected at 6.5% and Initial Jobless Claims for 10/31 expected at 520,000.

Oil added to early gains after the Energy Information Administration announced that crude inventories surprisingly fell 4 million barrels, gasoline inventories fell 300,000 barrels, and distillates fell 400,000 barrels.

The U.S. dollar index and treasuries fell in early trade on expectations that the fed would hold rates in their record low range and also keep language in their statement that they expect to hold them there for an extended period. Both then fell to new session lows after the fed confirmed they won’t be raising rates anytime in the near future. 2-year yields fell while 10-year and 30-year yields rose, so the yield curve steepened overall.

The Dow, Nasdaq, and S&P rose roughly 1% in the first hour of trade on decent economic data and expectations for continued low rates, but they then cut into their gains a bit midday on apprehension over what impacts the fed statement would have. All three indices eventually climbed to about their earlier highs or better as the fed did what most expected by announcing plans for exceptionally low rates for an extended period, but stocks then fell back off in the last hour of trade and ended mixed and near unchanged on worries over potential unintended consequences of rather radical actions recently taken by the fed and the government.

Among the big names making news in the market today were Pulte Homes, GMAC Financial Services, MillerCoors, Comcast, and Time Warner.

Today’s major event was FOMC’s unanimous decision to keep "Interest rates exceptionally low" for an "extended period of time."

This means that US dollar will remain the carry trade currency of choice as we transit to new ground with a major reserve currency as a carry trade currency. There are no rules or experience with this phenomenon.

Professor Roubini says $2000 gold is nonsense. I agree. It is probably going to a minimum of Alf’s lowest estimate of $3000.

I can’t tell you how many emails have I received telling me that gold would NEVER trade over $1000. One caller told me gold would never trade over $1000 in his lifetime, so I enquired how old he was. He hung up.”- Jim Sinclair, JSMineset.com

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.88 tonnes and the LSE subtracted 3.47 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.83 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 8,744.00 - No change from yesterday’s data.

Anatolia’s (ANO.TO) completed public offering, IAMGOLD’s (IAG) third quarter results, New Gold’s (NGD) third quarter results, Excellon’s (EXN.TO) operational update, and Silver Dragon’s (SDRG.OB) 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.

Toronto-listed miners issue stock at record pace - "Canada's main stock market said on Wednesday that equity financings by mining companies so far in 2009 have already topped full-year records due to resurgent demand for gold assets and that was led by Barrick Gold Corp's(ABX.TO) C$4.3 billion ($4 billion) stock sale." More
- November 04, 2009 | Item | E-mail

Bravo Completes Second Tranche of Private Placement - More
- November 04, 2009 | Item | E-mail

Noront Resources to present at key retail and industry conferences - More
- November 04, 2009 | Item | E-mail

Pele Mountain Confirms Significant Concentrations of All Rare Earth Oxides at Eco Ridge Mine Project in Elliot Lake - More
- November 04, 2009 | Item | E-mail

World`s 100 hottest gold stocks - "Dollar gold bullion traded within whiskers of US$1,100 an ounce on Wednesday, on factors that have been canvassed at length, ranging from India buying metal from the IMF, to the contrarian move of the metal to a neutral to stronger dollar, but which listed gold stocks are drawing the most buying attention?" More
- November 04, 2009 | Item | E-mail

Kodiak Announces Board Appointment, New Chief Financial Officer and Exploration Update - More
- November 04, 2009 | Item | E-mail

Artha Appoints David Cohen to Its Advisory Board - More
- November 04, 2009 | Item | E-mail

Oro Gold Provides Drill Update on Trinidad Gold Project, Sinaloa, Mexico - More
- November 04, 2009 | Item | E-mail

Kent Exploration Inc.: Alexander River Exploration Program Commences, NI-43-101 Report Commissioned - More
- November 04, 2009 | Item | E-mail

Killdeer Minerals Inc. Completes Wildcat Drill Program - More
- November 04, 2009 | Item | E-mail

Luiri Gold Completes C$7.69 Million Financing With Euroz Securities Limited - More
- November 04, 2009 | Item | E-mail

Laurion Mineral Exploration Inc. Announces Extension of Warrants - More
- November 04, 2009 | Item | E-mail

Inspiration Completes Its Jasper Property Spin-Off - More
- November 04, 2009 | Item | E-mail

Goldrea Resources Corp.: 20,000 Tonnes Stock Pile Currently Being Processed - More
- November 04, 2009 | Item | E-mail

Preliminary Resource Estimate for Aurizon Central Zone Nears Completion - More
- November 04, 2009 | Item | E-mail

Donner Metals Financing Update - More
- November 04, 2009 | Item | E-mail

Drilling on the South Bend Property, Ring of Fire, James Bay Lowlands-Six Holes Have Intersected Favourable Sulphide Mineralization in Ultramafic Rocks - More
- November 04, 2009 | Item | E-mail

Northern Shield Resources Identifies Strong VTEM Conductors at Wabassi Ni-Cu-PGE Property in Northern Ontario; Mobilizes Field Crew - More
- November 04, 2009 | Item | E-mail

Golden Goose to begin a 3,000-metre drilling program at its Magino gold project - More
- November 04, 2009 | Item | E-mail

First Gold Exploration Inc.: Corporate Update - More
- November 04, 2009 | Item | E-mail

Ur-Energy Selects General Contractor for Plant Construction - More
- November 04, 2009 | Item | E-mail

Excellon Provides Q1 Operational Update - "We remain pleased with the stable production results from Platosa and the operational performance of the Miguel Auza mill. These continue to provide good operating cash flow to fund our exploration program." stated Christopher Hopkins, Excellon's Chief Financial Officer. "We have experienced lower milling volumes and head grades as compared to our 4th Quarter ended July 31, 2009 due to the planned mining of lower grade ore as we develop new mining areas and scheduled maintenance at the mill. Our metal sold in the quarter was also impacted by severe weather that limited shipments at the end of October." More
- November 04, 2009 | Item | E-mail

Radius Reports Good Progress by B2 Gold in Nicaragua - More
- November 04, 2009 | Item | E-mail

Eagle Plains/Windstorm Complete Fieldwork on Kalum Gold Property, New High-Grade Prospecting Discovery Announced - More
- November 04, 2009 | Item | E-mail

WTM Intersects 118.20 Metres Grading 1.03 g/t Gold at Golden River West - More
- November 04, 2009 | Item | E-mail

PC Gold Expands Conduit Discovery, Number of Conduit Gold Zones Increases to Three - More
- November 04, 2009 | Item | E-mail

Champion Appoints Director - More
- November 04, 2009 | Item | E-mail

Acadian Mining intersects 53 meters grading 2.25 g/t gold including 21 meters grading 4.99 g/t gold at Beaver Dam, Nova Scotia - More
- November 04, 2009 | Item | E-mail

St. Elias Mines Ltd.: Strawberry Flats Gold Project, British Columbia - More
- November 04, 2009 | Item | E-mail

New Jersey Mining Company Announces Gold Intercepts for Toboggan Project - More
- November 04, 2009 | Item | E-mail

GobiMin terminates MOU to invest in Silver Refinery - More
- November 04, 2009 | Item | E-mail

Amador Gold Corp. Commences Drilling on Horwood Gold Property in West Timmins District - More
- November 04, 2009 | Item | E-mail

Purepoint Uranium Group Inc: CEO to Speak at India Nuclear Summit - More
- November 04, 2009 | Item | E-mail

Cantex updates Vale progress on Suwar project - More
- November 04, 2009 | Item | E-mail

Riverstone Announces New Gold Zone at Karma - More
- November 04, 2009 | Item | E-mail

Field Work Continues on Highland's Rickaby Property - More
- November 04, 2009 | Item | E-mail

B2Gold Corp. Corporate Update - More
- November 04, 2009 | Item | E-mail

Messina Minerals Identifies New Targets at Boomerang - More
- November 04, 2009 | Item | E-mail

Adventure Gold Begins Drilling on Highway Zone, East of Val d'Or - More
- November 04, 2009 | Item | E-mail

Nautilus Discovers Two New High Grade SMS Systems in the Bismarck Sea - More
- November 04, 2009 | Item | E-mail

Mesa Uranium Acquires Lithium Project - More
- November 04, 2009 | Item | E-mail

Alberta Star Announces the Appointment of Investor Relations Consultants - More
- November 04, 2009 | Item | E-mail

Geodex Announces Unit Private Placement - More
- November 04, 2009 | Item | E-mail

Metals Creek Resources Corp. Announces Commencement of Drilling On Its Ogden Gold Property, Timmins, Ontario - More
- November 04, 2009 | Item | E-mail

La Mancha Resources Inc.: Second Hassai Mine VMS Target Boosts Project's 43-101 Inferred Resource to Over Two Million Ounces of Gold - More
- November 04, 2009 | Item | E-mail

Yukon-Nevada Gold Corp. meets TSX continued listing requirements - More
- November 04, 2009 | Item | E-mail

Fortune Minerals updates NICO front-end engineering - More
- November 04, 2009 | Item | E-mail

Sunridge Gold Provides Drilling Update on the Asmara Project - More
- November 04, 2009 | Item | E-mail

Yukon-Nevada Gold Corp. meets TSX continued listing requirements - More
- November 04, 2009 | Item | E-mail

Rockhaven Resources Ltd. Announces Acquistion of Klaza Gold-Silver Project - More
- November 04, 2009 | Item | E-mail

Alexis Finding More Gold at Lac Herbin Gold Mine - More
- November 04, 2009 | Item | E-mail

Lara Starts Curionopolis Drill Program - More
- November 04, 2009 | Item | E-mail

Gabriel Resources Ltd: Third Quarter 2009 Report - More
- November 04, 2009 | Item | E-mail

Kola Welcomes Robert Goldsobel to the Board - More
- November 04, 2009 | Item | E-mail

Silver Dragon Discovers 914.8 g/t Silver, 7.58% Lead, and 9.11% Zinc Over 15.30 Meters at its Award-Winning Dadi Silver Polymetallic Project in Northern China - "Silver Dragon Resources Inc. (OTCBB:SDRG - News) is pleased to announce additional results from the 2009 drilling program at its Dadi silver property in Inner Mongolia, Northern China. Dadi is a silver-lead-zinc polymetallic project owned by Sanhe Sino Top Resources & Technologies, Ltd. ("Sino-Top"), of which Silver Dragon Resources Inc. has a 40% equity interest. Sino-Top was recently awarded the prestigious Prospector/Explorer of the Year Award at China Mining 2009 (see press release of October 22, 2009) for the Dadi project." More
- November 04, 2009 | Item | E-mail

Anatolia completes $56 million public offering - "Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO - News) announces that it has completed its previously announced bought deal public offering of common shares of Anatolia at a price of C$2.45 per common share. The underwriters, led by BMO Capital Markets and including RBC Dominion Securities Inc., Wellington West Capital Markets Inc., National Bank Financial Inc., Paradigm Capital Inc., Dundee Securities Corporation, Haywood Securities Inc. and Raymond James Ltd., exercised their over-allotment option resulting in a total of 23,000,000 common shares being issued for gross proceeds of C$56,350,000." More
- November 04, 2009 | Item | E-mail

IAMGOLD Reports Third Quarter 2009 Results; Record Quarterly Net Earnings, Operating Cash Flow & Production at Rosebel - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (TSX:IMG - News) (NYSE:IAG - News) (BOTSWANA: IAMGOLD) today reported financial and operating results for the third quarter ending September 30, 2009, with record net earnings of $64.9 million or $0.18 per share." More
- November 04, 2009 | Item | E-mail

New Gold Announces a 16% Increase in Production, 17% Decrease in Cash Cost in the Third Quarter 2009 and Enhanced Value for its El Morro Project - "New Gold Inc. ("New Gold") (TSX and NYSE AMEX - NGD) today announced unaudited financial and operational results for the third quarter ended September 30, 2009. Gold production was 79,531 ounces in comparison to 68,801 ounces in the same quarter in 2008. Earnings from mine operations increased by 67% to $22.6 million from $13.5 million in the third quarter of 2008." More
- November 04, 2009 | Item | E-mail

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