Gold Seeker Closing Report: Gold and Silver Gain Roughly 1%

	Close	Gain/Loss
Gold	$1136.55	+$7.45
Silver	$18.55	+$0.25
XAU	177.92	+1.14%
HUI	452.30	+1.15%
GDM	1348.57	+1.16%
JSE Gold	2441.90	-58.64
USD	76.84	-0.16
Euro	145.10	+0.25
Yen	109.40	-0.44
Oil	$79.65	-$1.14
10-Year	3.783%	+0.064
T-Bond	115.9375	-0.875
Dow	10680.77	+0.50%
Nasdaq	2307.90	+1.12%
S&P	1145.68	+0.83%

Gold fell a few dollars to as low as $1125.90 in Asia and then rebounded in London to see a gain of $7.95 at as high as $1137.05 by about 9AM EST in New York before it fell to see an over 1% loss at a new session low of $1118.50 by around 10:30AM, but it then stormed back higher in the last few hours of trade and ended at its late session high of $1137.40 with a gain of 0.66%. Silver rose almost 1% to as high as $18.465 by about 10AM EST before it also fell back off in late morning New York trade and dropped to as low as $18.175 at one point, but it then rallied to a new session high of $18.59 by early afternoon and ended with a gain of 1.37%.

Euro gold rose to about €784, platinum gained $5.50 to $1570, and copper gained 5 cents to about $3.39.

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

Report	For	Reading	Expected	Previous
Treasury Budget	Dec	-$91.85B	-$92.0B	-$120.3B

The fed’s Beige Book “indicated that while economic activity remains at a low level, conditions have improved modestly further, and those improvements are broader geographically than in the last report”.

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/09 expected at 436,000, Export and Import Prices for December, and Retail Sales for December expected at 0.5%. Excluding autos, sales are expected at 0.3%. At 10AM is the Business Inventories report for November expected at 0.3%.

Oil fell back below $80 after the Energy Information Administration reported that crude inventories rose a much larger than expected 3.7 million barrels, gasoline inventories rose 3.8 million barrels, and distillates rose 1.4 million barrels.

The U.S. dollar index fell on the view that other world central banks will raise their interest rates sooner and higher than the fed.

Treasuries remained modestly lower after today’s $21.0 billion 10-year note auction saw a high yield of 3.754% with a strong bid to cover of 3.00.

The Dow, Nasdaq, and S&P found marginal gains after today’s congressional grilling of financial CEOs did not go as bad as some expected. “Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and apologized for risky behavior and poor decisions. They also defended their bonus and compensation practices to a skeptical commission investigating what caused the collapse.”

Among the big names making news in the market today were Kraft, Google, and Bank of America.

“Well, Monday's open interest numbers were ugly. As I mentioned in my commentary yesterday, the big rise [almost $20] at the start of Far East trading on Monday morning, ran into an avalanche of selling by the U.S. bullion banks... and the rally topped out in less than two hours. Gold open interest rose a massive 14,477 contracts on volume of 206,862 contracts. Total open interest has now ballooned to 527,821 contracts. Silver was no different, as Monday's open interest numbers showed an increase of 4,567 contracts... one of the biggest one-day increases that I can remember. Volume was reported at 35,739 contracts... and silver's total o.i. is now up to 131,939 contracts.

Needless to say, Tuesday's big sell-off should have decreased open interest by quite a bit. Most of the activity yesterday began at the London close, so it will be of interest to see how much of that data actually makes it into the CME report this morning. These numbers will be the ones that show up in Friday's Commitment of Traders report as well... so, if there was ever a moment for the bullion banks to withhold data, this would be one of them.

The CME Delivery Notice showed that 15 gold and 14 silver contracts have been put up for delivery tomorrow. There were no reported changes in the SLV yesterday... but another 117,577 ounces were removed from GLD. The U.S. Mint had a report yesterday as well. Another 106,000 silver eagles were sold... but nothing was reported in gold eagle sales. And the Comex-approved depositories showed that another 304,769 ounces of silver were withdrawn from their combined inventories.

The European Central Bank reported that no gold was sold [or bought] by any of their captive central banks last week. And to steal a sentence from the "usual New York gold commentator"... "The reported absence of the European Union Central Banks from the gold market is deafening." As I said last week at this time... the gold and silver prices have "Made in the U.S.A." stamped all over them.”– From Ed Steer’s Gold & Silver Daily, read the full report here.

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.657 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 79.30 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,488.81 - No change from yesterday’s data.

Barrick’s (ABX) lawsuit against New Gold (NGD), SEMAFO’s (SMF.TO) production, Gammon’s (GRS) production, Scorpio’s (SPM.TO) arrangement agreement with Platte River Gold, Endeavour’s (EXK) production, Orko’s (OK.V) update of activities, and U.S. Silver’s (USA.V) production 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.

Diadem Announces Issuance of Incentive Stock Options - More
- January 13, 2010 | Item | ShareThis

Pershimco Resources Announces the First Closing of its Private Placement - More
- January 13, 2010 | Item | ShareThis

Decade Resources Ltd.: Red Cliff Drill Results - More
- January 13, 2010 | Item | ShareThis

Barrick sues New Gold over El Morro stake sale - "Barrick Gold (ABX.TO) is taking New Gold Inc (NGD.TO), a junior exploration company, to court to try to derail its deal to sell a 70 percent stake in the El Morro copper-gold project in Chile to Canadian mining rival Goldcorp (G.TO)." More
- January 13, 2010 | Item | ShareThis

Robex announces preliminary laboratory results from its drilling program on Nampala - More
- January 13, 2010 | Item | ShareThis

Nuinsco Resources Limited: 330 to 360 Million Tonne Exploration Target Mineralization Inventory Estimated at Prairie Lake - More
- January 13, 2010 | Item | ShareThis

Eagle Plains Releases Results of Eagle Lake Uranium Project - More
- January 13, 2010 | Item | ShareThis

Endeavour Silver Sets New Record for Mine Production in Q4, 2009, Silver Up 12% to 779,345 oz, Gold Up 90% to 4,591 oz - "Endeavour Silver Corp. (TSX:EDR - News)(TSX:EDR.WT - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announces that the Company set a new record for silver production in Q4, 2009, up 12% quarter-on-quarter to 779,345 oz silver. Gold production also jumped to a new quarterly high, up 90% to 4,591 oz gold in Q4, 2009." More
- January 13, 2010 | Item | ShareThis

Golden Phoenix Reports 35-Foot Gold Intercept Grading More Than One Ounce/Ton at Mineral Ridge Mine - More
- January 13, 2010 | Item | ShareThis

Ventana Announces Additional La Mascota Drill Results; 93.5 Metres of 15.8 Grams Per Tonne Gold and 72.0 Metres of 9.7 Grams Per Tonne Gold - More
- January 13, 2010 | Item | ShareThis

Treasury Metals-Drilling at Western Extension of Main Zone, Goliath Gold Project, Continues to Intersect High-Grade Gold - More
- January 13, 2010 | Item | ShareThis

Clarification: Wildcat Increases Mineral Resource Estimate - More
- January 13, 2010 | Item | ShareThis

Duran Ventures Drills 223.6 Metres of 0.51% Copper and 0.021% Molybdenum at Aguila; New Copper Values from Aguila West and Recommences Drilling Program - More
- January 13, 2010 | Item | ShareThis

Stellar Pacific Ventures to Update Resources at Its Val D'Or "Vassan Property" and to Test Drill East Extension of Hamelin Zone - More
- January 13, 2010 | Item | ShareThis

Rocmec Announces Nomination of a Vice-President Operations for Canada - More
- January 13, 2010 | Item | ShareThis

Galahad Metals Inc.: Compilation of Historic DD Holes at Regcourt Shows Potential for High-Grade Gold Mineralization - More
- January 13, 2010 | Item | ShareThis

TNR Provides Update on Los Azules Copper Project - More
- January 13, 2010 | Item | ShareThis

Glen Eagle Resources Inc.: Closing of Private Placement - More
- January 13, 2010 | Item | ShareThis

Brazauro to Acquire Additional Land Proximal to the Piranhas Property - Tapajós, Brazil - More
- January 13, 2010 | Item | ShareThis

GoldSpring Expands Mineral Holdings in the Comstock Lode District by 67% - More
- January 13, 2010 | Item | ShareThis

Uracan continues to intercept large widths of mineralization while expanding the Double S Zone - More
- January 13, 2010 | Item | ShareThis

Grant of Options to Directors and Officers of Amex Exploration Inc. - More
- January 13, 2010 | Item | ShareThis

New Dawn Reports Gold Sales from its Turk Mine in Zimbabwe for the Quarter ended December 31, 2009 - More
- January 13, 2010 | Item | ShareThis

Samarium Announces Contract With Frontino Gold Mines Owners and Creditors - More
- January 13, 2010 | Item | ShareThis

Globex Benefits From Claim Package Amalgamation - More
- January 13, 2010 | Item | ShareThis

Wildcat Increases Mineral Resource Estimate to 80 Million Ounces Silver and 3.8 Billion Pounds Manganese - More
- January 13, 2010 | Item | ShareThis

Star Gold Corporate Update - More
- January 13, 2010 | Item | ShareThis

Eagle Hill Announces Wide Gold Intervals from the Windfall Lake Property in Quebec - More
- January 13, 2010 | Item | ShareThis

Canadian Shield-2010 Gold Exploration Programs & 2009 Year in Review - More
- January 13, 2010 | Item | ShareThis

Re-interpretation of Mantis drill logs and compilation of drill data from Canadian Gold Resources suggests Orphan gold vein is a complex vein system - More
- January 13, 2010 | Item | ShareThis

Gold Reach Resources Ltd. Stakes New Claims Adjacent to Richfield Ventures - More
- January 13, 2010 | Item | ShareThis

Metanor Drills 3.42 g/t Au Over 22.4m and 4.02 g/t Au Over 16.63m at Barry - More
- January 13, 2010 | Item | ShareThis

Fortress Reports Drilling Underway at the Malmyzh Project and Phase 1 Drilling Completed at Limonite Project, Far East Russia - More
- January 13, 2010 | Item | ShareThis

Quaterra Options Santo Domingo Copper-Gold Prospect in Durango, Mexico - More
- January 13, 2010 | Item | ShareThis

Nortec Receives Positive Metallurgical Results From Kaukua Main Zone (K-MZ), LK PGE Gold-Copper-Nickel Project, Finland - More
- January 13, 2010 | Item | ShareThis

Goldbrook Ventures Inc.: Canadian Royalties Completes Plan of Arrangement - More
- January 13, 2010 | Item | ShareThis

VHGI Completes Next Payment Phase and Updates Investors on Developments for Treasure Gulch Gold Mine Lease, Implementation of Production Plan - More
- January 13, 2010 | Item | ShareThis

Caerus Resource: Update on Plan of Arrangement - More
- January 13, 2010 | Item | ShareThis

Canadian Royalties Completes Plan of Arrangement - More
- January 13, 2010 | Item | ShareThis

Detour Gold Reports Wide Gold Intersections Outside of Proposed Open Pit at Detour Lake Project in Ontario - More
- January 13, 2010 | Item | ShareThis

Crocodile Gold Gives Chinese Project A New Name: "Howley Project" Focused on "Big Pit" Concept; Phase 1 Results to be Released Soon - More
- January 13, 2010 | Item | ShareThis

Orosur Mining Inc. Announces 2010 Second Quarter and Half Year Earnings Conference Call and Web Cast - More
- January 13, 2010 | Item | ShareThis

Esperanza Silver Corporation: Cerro Jumil Drilling Finds New Gold Mineralization - More
- January 13, 2010 | Item | ShareThis

VMS Ventures Inc.: Reed Lake Discovery Zone Stratigraphy Extends Through the Tower Zone, Near Snow Lake, Manitoba - More
- January 13, 2010 | Item | ShareThis

Northland Resources Inc.: Karl-Axel Waplan Appointed President and CEO - More
- January 13, 2010 | Item | ShareThis

SEMAFO Exceeds 2009 Guidance - Record Gold Production of 242,000 Ounces - A 24% increase over 2008 Production - "In 2009, gold production totalled a record 242,000 ounces, surpassing the upper end of the Company's annual guidance of between 220,000 and 240,000 ounces. Cash operating cost is anticipated to be in line with the Company's 2009 guidance of between $435 and $475 per ounce. Gold sales for the year totalled $240,000,000. The Company's average selling price per ounce of gold was $1,111 for the quarter and $988 for the 12 months ended December 31, 2009, compared to the average London PM Gold Fix price of $1,100 and $972 per ounce, respectively. SEMAFO closed out its hedge program during the second quarter of 2009, which allowed the Company to fully benefit from spot gold prices." More
- January 13, 2010 | Item | ShareThis

Orko Silver Provides an Update of Activities for 2010 and a 2009 Year End Summary - "The Company is pleased to provide an update of activities planned for 2010 and a year-end summary on our La Preciosa silver deposit located in Durango

Mexico

currently in a joint venture with Pan American Silver Corp." More
- January 13, 2010 | Item | ShareThis

U.S. Silver Announces Record Production in Q4 09 - "U.S. Silver Corporation (TSX-V: USA, US OTC: USSIF, Frankfurt: QE2) (“US Silver” or “the Company”) is pleased to announce record silver and lead production both in the fourth quarter of 2009 (Q409) and for the entire year. This was the best quarterly silver and lead production from the Galena Mine since its acquisition by the Company in June 2006." More
- January 13, 2010 | Item | ShareThis

Scorpio Announces Signing of Arrangement Agreement with Platte River Gold Inc. - "Scorpio Mining Corporation (TSX: SPM - News; "Scorpio" or the "Company") announces that it has signed an arrangement agreement (the "Arrangement Agreement") with Platte River Gold Inc. ("Platte River") dated January 7, 2010 for the acquisition of Platte River and all its assets, including the La Verde Project and its significant polymetallic deposits located near the Company's Nuestra Senora mine in Mexico (the "Acquisition"), which will be completed by way of a court-approved plan of arrangement (the "Arrangement") under the Business Corporations Act (Yukon)." More
- January 13, 2010 | Item | ShareThis

Gammon Reports Strong Production Performance with Ocampo and El Cubo Underground Production Exceeding Targeted Levels - "The fourth quarter caps off a transformational year for Gammon Gold. Operations at both mines continue to improve. I am particularly pleased with the continued improvement in underground productivities at both Ocampo and El Cubo, with both operations setting quarterly records. Using the Company's long-term gold equivalency ratio of 55:1, the significant reduction in 2009 annual cash costs of $82 per gold equivalent ounce, or 16% over 2008, demonstrates the success of the operation team's continued focus on implementing ongoing operational efficiencies that will continue to positively impact our operations going forward." More
- January 13, 2010 | Item | ShareThis

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