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

	Close	Gain/Loss
Gold	$1116.90	+$13.30
Silver	$16.71	+$0.09
XAU	156.55	+0.27%
HUI	396.81	+0.49%
GDM	1189.31	+0.42%
JSE Gold	2242.29	+47.76
USD	79.00	-0.18
Euro	139.65	+0.33
Yen	110.64	+0.31
Oil	$77.23	+$2.80
10-Year	3.635%	-0.019
T-Bond	118.40625	+0.25
Dow	10296.85	+1.09%
Nasdaq	2190.06	+0.87%
S&P	1103.32	+1.30%

Gold remained near unchanged in Asia and rose about 1% in London before it extended its gains in New York and ended near its high of the session with a gain of 1.21%. Silver followed a similar pattern and gained 0.54%.

Euro gold rose to about €799, platinum gained $31.50 to $1573.50, and copper remained at about $3.08.

Gold and silver equities traded mostly slightly higher and ended with modest gains.

Report	For	Reading	Expected	Previous
Pending Home Sales	Dec	1.0%	1.0%	-16.4%

Tomorrow at 8:15AM EST brings ADP Employment for January expected at -40,000 and at 10AM is the ISM Services report for January expected at 50.9.

Oil rose on hopes for increasing demand while the U.S. dollar index fell as the euro climbed on easing fears over Greece’s debt.

Treasuries remained near unchanged while the Dow, Nasdaq, and S&P on decent economic data and company news.

Among the big names making news in the market today were Ford, Subaru, UPS, Toyota, Hershey, D.R. Horton, Dow Chemical, Pepsi bottling, BP, Lexmark, ADM, BNY Mellon, and Continental Air.

“Well, I received a pile of e-mails over the weekend and yesterday about Richard Russell's Friday commentary... and this is what he had to say: ....if the 7,286 level recorded in 2002 is violated, I see the Dow declining to the 1,000 level. Seems impossible? Seems out of the question? Call it anything you want, but that's where I stand. That's what I believe could happen if the advancing structure from the March low breaks down. And it does appear to be breaking down. My good friend Ian Gordon of Long Wave Analyst fame will be beaming with pride with words like that coming from the Master himself.

Well, the Dow got a reprieve yesterday... and I'll bet any kind of money you want to lay on the table that the President's Working Group on Financial Markets [a.k.a. the Plunge Protection Team] were there to make sure that Friday's debacle did not spill over into Monday. For the moment they were successful.

It's going to be interesting to see if this rally in both gold and silver has any legs. Both metals were oversold... but not to the extremes I would like to have seen. I'm somewhat concerned that this rally may roll over in the days and weeks ahead. But what I'm really watching is to see if JPMorgan et al are going to short this rally. You must understand, dear reader, that if the bullion banks... specifically the '8 or less' traders... were not there to go short against all longs, there is nobody... not a single trader left in the Commercial category of the Commitment of Traders... that is prepared to go short silver [and gold] at current prices... and the prices would explode instantly. That's why the bullion banks are there... as the shorts of last resort. The moment they withdraw from the market... or begin to cover their short positions... will be an event talked [and written] about for centuries to come.”– From Ed Steer’s Gold & Silver Daily, read the full report here.

Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.1 tonnes.

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

Silver Trust (SLV) Total Tonnes in Trust: 9,355.98: -29.00 change from yesterday’s data.

Goldcorp’s (GG) mine certification, Timberline’s (TLR) advancement of the underground ramp at Butte Highlands, Richmont’s (RIC) drilling, Newmont’s (NEM) output and accident, Great Panther’s (GPR.TO) drill program, and Fortuna’s (FVI.V) discovery 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.

Amseco Acquires Central Timmins Gold Property - More
- February 02, 2010 | Item | ShareThis

Century Provides Lamaque Gold Project Monthly Progress Update - More
- February 02, 2010 | Item | ShareThis

Sunridge Gold Provides Update on Asmara Project Tour, Drilling Progress and Company Presentations - More
- February 02, 2010 | Item | ShareThis

Champion Announces Grant of Stock Options - More
- February 02, 2010 | Item | ShareThis

Arctic Star Diamond Corp.: Till Geochemistry Ugrades Multiple EM Targets, Strong Evidence for Widespread Nickel Mineralization, Providence Lake - More
- February 02, 2010 | Item | ShareThis

Rare Earth Metals Inc. Announces Commencement of a 10,000 Meter Drill Program at the Clay-Howells Prospect in Northern Ontario - More
- February 02, 2010 | Item | ShareThis

Century Mining Corporation: Workforce at San Juan Gold Mine in Peru Takes Illegal Strike Action - More
- February 02, 2010 | Item | ShareThis

Golden Band Resources Inc. completes amalgamation with wholly-owned subsidiary - More
- February 02, 2010 | Item | ShareThis

Hudson Approves 2010 Field Program for Its Rare Earth Project in Greenland - More
- February 02, 2010 | Item | ShareThis

RockBridge Completes Acquisition of BC Exploration Company - More
- February 02, 2010 | Item | ShareThis

Great Panther Commences Deep Underground Drill Program, Updates Santa Margarita and Los Pozos Development at Guanajuato - "The deep drilling marks the start of the 65,000 metre program announced in September 2009 as part of Great Panther's new 3-year growth strategy to increase production and resources at its two producing mines in Mexico. This initial phase of approximately 12,000 metres of underground drilling in the Rayas area at Guanajuato is part of an ongoing program of approximately 20,000 metres at Guanajuato and 8,000 metres at Topia, in 2010. The Deep Rayas program will ultimately test a very prospective area directly below the extensive Rayas workings over a strike length of 600 metres and at least 200 metres vertically below the 435 level." More
- February 02, 2010 | Item | ShareThis

Inspiration to Proceed With the Continued Exploration of Its Langmuir, Gold and Moly/REE Properties - More
- February 02, 2010 | Item | ShareThis

Dumont reports progress from initial leaching testwork from its Alberta polymetallic black shale projects - More
- February 02, 2010 | Item | ShareThis

Fortuna Discovers High-Grade Ag-Au Mineralization at the Caylloma Mine, Peru - "Fortuna Silver Mines Inc. (TSX: FVI / Lima Exchange: FVI) is pleased to announce the discovery of high-grade silver-gold mineralization in the upper portion of the Animas Vein at the Caylloma Mine in southern Peru. A series of exploration raises and cross-cuts recently developed along the Animas structure cut Bonanza-style silver-gold mineralization above level 6 (production to date from the Animas Vein has all been derived from below the 6th level.)" More
- February 02, 2010 | Item | ShareThis

SIRIOS: Acquisition and Drilling of the PHOENIX Gold Property - More
- February 02, 2010 | Item | ShareThis

Ressources Appalaches: 116 g/t (3.7 oz/t) Au over 0.9 m and 4.15 g/t Au over 16.8 m at the Dufferin Mine - More
- February 02, 2010 | Item | ShareThis

Alix Acquires Claims in B.C. With 2.04% Rare Earth Oxides Across 15 Meters - More
- February 02, 2010 | Item | ShareThis

SLAM Drills Additional Silver - New drilling intercepts up to 423 g/t (12.35 oz/ton) silver - More
- February 02, 2010 | Item | ShareThis

Treasury Metals Reports More High-Grade Gold From Goliath Gold Project - More
- February 02, 2010 | Item | ShareThis

First Gold Exploration: 3,558 g/t Rubidium and 1.25 % Li2O over 13.5 Metres in Drilling - More
- February 02, 2010 | Item | ShareThis

Alpha Gold announces results from successful 2009 drill campaign on Lustdust - More
- February 02, 2010 | Item | ShareThis

Brazauro Resources Preliminary Economic Assessment Confirms Strong Prospects for Tocantinzinho Property - More
- February 02, 2010 | Item | ShareThis

Pershimco Resources Announces the Second Closing of its Private Placement for a Total Financing of $1,720,000 - More
- February 02, 2010 | Item | ShareThis

Nebu Reports Assay Results, Updates Timmins West Gold Area Exploration Progress - More
- February 02, 2010 | Item | ShareThis

Copper Fox acquires 100% interest in Schaft Creek Project - More
- February 02, 2010 | Item | ShareThis

TerraX sampling defines 4.4 km mineralized lineament on Blackfly Property, Atikokan Area, Northwest Ontario with samples up to 167 g/t Au; IP surveys underway - More
- February 02, 2010 | Item | ShareThis

Gold Wheaton Comments on First Uranium's Decision to Delay the Mine Waste Solutions Project and its Short Term Impact on Gold Wheaton - More
- February 02, 2010 | Item | ShareThis

Affinity Gold Corp. Corporate Update - More
- February 02, 2010 | Item | ShareThis

Golden Goliath Resources Ltd.: 44 Samples From Newly Opened Tunnel Within Filo de Oro Mineralized Trend Average 2.07 g/t Gold and 98.61 g/t Silver - More
- February 02, 2010 | Item | ShareThis

Argex completes airborne geophysics at Lac Lablache - More
- February 02, 2010 | Item | ShareThis

Iberian Minerals Receives Aguas Tenidas Reagent Permits - More
- February 02, 2010 | Item | ShareThis

Zinccorp Resources Inc. Samples 1170 g/t Gallium, 60.3 g/t Germanium and 24.1 g/t Indium at Michelle Project - More
- February 02, 2010 | Item | ShareThis

Megastar Development Corporation: Drilling Begins on Megastar's Simkar Gold Project - More
- February 02, 2010 | Item | ShareThis

Astral Announces Encouraging Metallurgical Testwork on Drill Samples From Jumping Josephine - More
- February 02, 2010 | Item | ShareThis

Catalyst Copper Corp. (formerly Svit Gold Corp.) closes $10.5 million private placement, acquires option in La Verde property, changes name and appoints new dir - More
- February 02, 2010 | Item | ShareThis

Threegold Resources Inc.: Second Phase of Diamond Drilling at Mercier Rare Earth Element (REE) Discovery - More
- February 02, 2010 | Item | ShareThis

Fortune Minerals announces appointments for Senior Metalurgist and SMPP Permitting Consultant - More
- February 02, 2010 | Item | ShareThis

Apoquindo Intersects 167 Metres of 0.89% Copper and 124 Metres of 0.96% Copper in Two Holes at Zafranal - More
- February 02, 2010 | Item | ShareThis

Dynasty Metals & Mining Inc.: President's Update on Zaruma - More
- February 02, 2010 | Item | ShareThis

Coral Gold Resources Announces $1.5 Million Program for Robertson Project - More
- February 02, 2010 | Item | ShareThis

Silver Shield finalizes Property Agreement - Initiates Exploration in West Timmins Area - More
- February 02, 2010 | Item | ShareThis

Eloro Resources Begins a 6,000 m Surface Diamond Drilling Campaign on the Simkar Gold Project, Val d'Or (Quebec) - More
- February 02, 2010 | Item | ShareThis

Goldstone Drilling Expands Gold Mineralization at Brookbank Deposit - More
- February 02, 2010 | Item | ShareThis

Spanish Mountain Gold Reports Changes to Management Team and Board of Directors - More
- February 02, 2010 | Item | ShareThis

Champion Minerals Update From Harvey-Tuttle; Additional Drilling Planned at Fire Lake North - More
- February 02, 2010 | Item | ShareThis

Rockex Announces Thomas Atkins as New President and Chief Executive Officer - More
- February 02, 2010 | Item | ShareThis

General Metals Completes 2009 - 2010 Drilling Program - More
- February 02, 2010 | Item | ShareThis

Noront reports continued significant assay results at Eagle's Nest, James Bay Lowlands - More
- February 02, 2010 | Item | ShareThis

Candente Gold Names John Foulkes VP of Corporate Development - More
- February 02, 2010 | Item | ShareThis

Barkerville Closes Acquisition of QR Mine & Mill-Gold Mining Operations Have Commenced - More
- February 02, 2010 | Item | ShareThis

First Uranium Update on Environmental Authorization - More
- February 02, 2010 | Item | ShareThis

Goldcorp Inc.: Musselwhite Mine is First Gold Mine in Canada to Receive International Cyanide Management Code Certification - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) announced today that the Musselwhite mine, located in north-western Ontario, Canada, has become the first gold mining operation in Canada to be fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold ("the Cyanide Code"). Musselwhite mine is an underground gold mine that produces approximately a quarter-million ounces of gold annually." More
- February 02, 2010 | Item | ShareThis

S.Africa mines nationalisation not policy-minister - "Nationalisation of South Africa's mines is not government policy, and is unlikely to be adopted any time soon, Mineral Resources Minister Susan Shabangu said on Tuesday, rejecting calls from the ANC's youth wing." More
- February 02, 2010 | Item | ShareThis

Timberline Advances Underground at Its Butte Highlands Gold Project - "Timberline Resources Corporation (NYSE Amex:TLR) ("Timberline") is pleased to announce that site facilities are complete and advancement of the underground ramp to be used for development and mining has begun at its Butte Highlands Gold Project near Butte, Montana." More
- February 02, 2010 | Item | ShareThis

Richmont Mines Starts Drilling at its Cripple Creek Gold Project: Company Will Target Depth Extension of Previously Identified Mineralized Zones - "Richmont Mines Inc. (TSX:RIC - News)(AMEX:RIC - News) ("Richmont" or "the Company"), a Canadian based gold producer, is pleased to announce that it will begin a first phase 5,000 metre drilling program at its 100% owned Cripple Creek Gold Project. Drilling efforts on the 6.94 km2 (694 hectares) property will target depths below 400 metres, as the Company hopes to confirm favourable gold mineralization trends obtained at depth on properties in the vicinity." More
- February 02, 2010 | Item | ShareThis

Newmont:first output from Ghana's Akyem mine in 2013 - "Newmont Mining Corporation (NEM.N) expects the first output from its Akyem gold mine in Ghana in late 2013, a senior official said on Tuesday." More
- February 02, 2010 | Item | ShareThis

Newmont's Indonesian operation back to normal after accident - "PT Newmont Nusa Tenggara (NNT) said previously that a rock-slide occurred at the Batu Hijau copper and gold mine on Sumbawa island, eastern Indonesia, on January 17, burying a dozer operator who was working at the site." More
- February 02, 2010 | Item | ShareThis

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