Gold Seeker Closing Report: Gold and Silver End Mixed

	Close	Gain/Loss
Gold	$1266.80	-$2.90
Silver	$20.51	+$0.13
XAU	190.26	-0.23%
HUI	494.92	-0.26%
GDM	1504.96	-0.31%
JSE Gold	2559.10	-88.38
USD	81.46	+0.30
Euro	130.12	+0.16
Yen	116.82	-3.56
Oil	$76.02	-$0.78
10-Year	2.723%	+0.057
T-Bond	132.0625	-0.9375
Dow	10572.73	+0.44%
Nasdaq	2301.32	+0.50%
S&P	1125.07	+0.35%

Gold saw a slight gain at $1271.75 in Asia before it chopped back lower in London and New York to as low as $1262.97 by about 11:40AM EST and then bounced back higher into the close, but it still ended with a loss of 0.23%. Silver fell to as low as $20.295 by about 8:30AM EST and rose to as high as $20.61 by about 11AM before it fell back off into the close, but it still ended at a new 30 month high with a gain of 0.64%. Silver needs only to close above its March 5^th 2008 mark of $20.64 before achieving a new 30 year closing high.

Euro gold fell to about €974, platinum gained $18.75 to $1605.50, and copper remained at about $3.46.

Report	For	Reading	Expected	Previous
Import Prices	Aug	0.6%	-	0.1%
Import Prices ex-oil	Aug	0.3%	-	-0.2%
Export Prices	Aug	0.8%	-	-0.2%
Export Prices ex-ag.	Aug	0.5%	-	-0.2%
NY Fed - Empire Man. Survey	Sep	4.1	6.4	7.1
Industrial Production	Aug	0.2%	0.3%	0.6%
Capacity Utilization	Aug	74.7%	75.0%	74.6%

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 9/11 expected at 460,000, PPI for August expected at 0.3%, Core PPI expected at 0.1%, and the Current Account for the second quarter expected at -$125.0 billion. At 9AM is the Net Long-Term TIC Flows for June and at 10AM is the Philadelphia Fed survey for September expected at 2.0. On Friday at 8:30 brings CPI for August expected at 0.2% and Core CPI expected at 0.1% and at 9:55 is Michigan Sentiment for September expected at 70.0.

Oil fell after it became clear that the Enbridge pipeline will start back up by the end of the week.

The U.S. dollar index rose as the yen fell after the Bank of Japan announced it had intervened and spent $20 billion or more to weaken the yen recently.

Treasuries fell as the Dow, Nasdaq, and S&P found modest gains on decent economic news.

Among the big names making news in the market today were IBM, Sprint, HP, and Fannie and Freddie.

“U.S. Stock Market - Sideways to higher appears the case for the very near term. I continue to look for the market to begin worrying about the November elections as they draw closer. I like to note that I said almost a year ago the surprise will be how many incumbents get voted out. Last night Tea Party results only make me feel better about that prediction.

Gold and Silver – A pause that refreshes is my wish near term. I like to get off the front pages of the financial media. $1,300 gold and $21+ silver looks good for sometime in October (if not sooner).

As many of you are no doubt already aware, the Bank of Japan finally, finally, intervened after several weeks of increased hand-wringing regarding the extremely high level of the Yen. They have not done this since 2004 ( I might add I was on the receiving end of that ‘whoopin’ at the time). Quite frankly I am surprised it took them this long although the recent elections probably had a great deal to do with delaying the onset of what nearly every Forex trader on the planet has been expecting for some time now. The reason – once they start ratcheting up the rhetoric, especially if those pesky speculators do not turn tail and run over verbal threats, their credibility is on the line and act they must if they are to maintain the respect of the speculative community. They mauled the Yen overnight with the result that the Dollar managed to move up and away from the 81 level. The key now will be to see how effective their intervention was and whether or not the speculative community is in a mood to test their resolve.

The result of this was that the price of Gold in Yen terms shot up quite sharply overnight. The stronger yen had been enabling Japanese citizens to acquire the metal at what was probably a type of discount compared to what the rest of the world has been paying lately. As you can see on the chart, when viewed in terms of the yen, the price of gold has not been nearly as strong as here in the US and elsewhere.

Gold at the Comex looks like it was taking a bit of a breather after yesterday’s strong showing. The chart pattern indicates a market in a resting phase digesting its gains. If it sets back further, the former resistance zone near $1260 should provide some initial support as dip buyers look to first surface there. Below that is $1245.

Topside selling resistance still looks to be most likely near the $1285 level followed by round number resistance near $1300.

The silver market continues to generate a great deal of bullish excitement as it built on its impressive performance of yesterday. It worked quite hard today at accomplishing a close above $20.50. That is the first barrier that it must clear to effectively target a run towards $21. I do want to see it hold above this level tomorrow.

It has some support coming in on the chart near $20.25 followed by the zone near the 10 day moving average which is just below $20.

The HUI is consolidating its gains from yesterday as well but its inability to close above the 500 barrier is a bit frustrating as those hedge fund ratio trades simply will not yet go away. For those of you who are writing emails to me about that trade, let me suggest that those trades will eventually give way to a spread trade involving using the mining shares as the long leg of a spread against the broader equity markets.

The Dollar is getting a respite from the selling wave that engulfed it the last two days but it owes any reprieve to the Bank of Japan. A crash through the floor near 81 now will send it very quickly down towards crucial chart support near 80.”- Dan Norcini, More at JSMineset.com

Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.079 tonnes and the LSE added 0.28 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 97.26 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9307.17 - No change from yesterday’s data.

Kirkland’s (KGI.TO) board member death, Ivanhoe’s (IVN) issued alert about false and misleading statements, Allied Nevada’s (ANV) metallurgical test results, and Silver Quest’s (SQI.V) 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.

Continental Advisory - More
- September 15, 2010 | Item | ShareThis

Galahad Grants Stock Options - More
- September 15, 2010 | Item | ShareThis

NI 43-101 for Macusani Yellowcake 100%-Owned Colibri 2&3 Uranium Project in Puno, Peru Is Now Available on SEDAR - More
- September 15, 2010 | Item | ShareThis

Getty Signs Letter of Intent with Zhejiang Guoguang Group to Joint Venture Getty's Highland Valley Copper Deposit - More
- September 15, 2010 | Item | ShareThis

Artha Resources Corporation: Argentina Precious Metals Update - More
- September 15, 2010 | Item | ShareThis

Golden Reign Resources Ltd.: Update on Drilling at San Albino Mine Area, Additional High-Grade Assay Results From Murra - More
- September 15, 2010 | Item | ShareThis

Kirkland Lake Gold Mourns Death of Board Member Paul Kostiuk - "Kirkland Lake Gold Inc. (TSX:KGI - News)(AIM: KGI) ('Kirkland Lake Gold' or the 'Company'), an operating and exploration gold mining company located in Ontario, Canada, with great sadness notes the passing of Board member S. Paul Kostiuk." More
- September 15, 2010 | Item | ShareThis

Duncan Park Announces Receipt of Geophysical Report on Dome Property in Red Lake - More
- September 15, 2010 | Item | ShareThis

Duncan Park Announces Filing of Technical Report on Dome Property in Red Lake - More
- September 15, 2010 | Item | ShareThis

Fortune River and Christopher James Begin Drilling at Buz Gold/Silver Project in Nevada - More
- September 15, 2010 | Item | ShareThis

Otis Initiates Drilling at Kilgore Dog Bone Ridge Target - More
- September 15, 2010 | Item | ShareThis

VISIBLE GOLD MINES INCREASES SIZE OF PRIVATE PLACEMENT TO MAXIMUM $4.8 MILLION - More
- September 15, 2010 | Item | ShareThis

Rockland Signs Drill Contract, Receives Permits - More
- September 15, 2010 | Item | ShareThis

NQ Exploration Inc.: Common Shares Issued to the Fonds de Solidarite FTQ and Sidex - More
- September 15, 2010 | Item | ShareThis

Strathmore Commences Development Drilling Program at Gas Hills Uranium Properties, Wyoming - More
- September 15, 2010 | Item | ShareThis

Nitinat Announces the Commencement of its Work Program for the Jasper Property - More
- September 15, 2010 | Item | ShareThis

Athabasca Uranium Acquires Webb River Property Option - More
- September 15, 2010 | Item | ShareThis

Ateba to Commence a 3,000 Metre Drilling Program on Its Walsh Katrine Gold Project - More
- September 15, 2010 | Item | ShareThis

Mirasol Discovers Multiple New Silver Veins at the Virginia Vein Zone, Argentina - More
- September 15, 2010 | Item | ShareThis

Equinox provides Notice of Change in Investor Relations Management - More
- September 15, 2010 | Item | ShareThis

Oroco Expands Cerro Prieto Land Holdings - More
- September 15, 2010 | Item | ShareThis

Gold Bullion Extends Long Bars Zone Phase 2 Drill Program - More
- September 15, 2010 | Item | ShareThis

First Gold Exploration Inc.: Best Drill Results to Date, New Listing and Project Updates - More
- September 15, 2010 | Item | ShareThis

Rio Alto Increases La Arena Probable Reserves to 2.57 Million oz Au and 1.57 Billion lbs Cu - More
- September 15, 2010 | Item | ShareThis

Anglo Swiss Resources Receives Final Permits for Phase 2 Drill Program on the Nelson Mining Camp - More
- September 15, 2010 | Item | ShareThis

Ashburton Ventures Inc.: Update on Summer Program at Deep Creek, Nevada - More
- September 15, 2010 | Item | ShareThis

PBX Reports Results of Titan-24 Geophysical Survey - More
- September 15, 2010 | Item | ShareThis

Tigris Uranium Appoints Dr. Douglas Underhill, Chief Geologist - More
- September 15, 2010 | Item | ShareThis

Sandspring Announces New Indicated NI 43-101 Mineral Resource of 2.64 Million Ounces Gold, 261 Million Pounds Copper and 3.42 Million Ounces Gold - More
- September 15, 2010 | Item | ShareThis

Commerce Resources Corp. Drills 1.95% TREO over 243.84 metres, including 2.41% TREO over 28.32 metres, in Second Hole at the Eldor Property in Quebec - More
- September 15, 2010 | Item | ShareThis

Copper Mountain Mining Corp Releases Video Update On the Copper Mountain Project - More
- September 15, 2010 | Item | ShareThis

Riverstone Intersects High-Grade Gold at Goulagou II - More
- September 15, 2010 | Item | ShareThis

Brighton Energy Commences Uranium Exploration in Niger - More
- September 15, 2010 | Item | ShareThis

Sandspring Presents Drill Results from Holes 81-93 on Stepout; Hole 93 Intersects 110m of 0.90g/t Gold and 0.06% Copper and 56.5m of 1.08g/t Gold and 0.09% Cu - More
- September 15, 2010 | Item | ShareThis

Alderon Intersects 31% Iron Over 468 Metres - More
- September 15, 2010 | Item | ShareThis

Inter-Citic Issues Exploration Progress Update for Its Dachang Gold Project - More
- September 15, 2010 | Item | ShareThis

West Kirkland Mining Adds to Its Technical Team - More
- September 15, 2010 | Item | ShareThis

Rainy River and Northern Superior Report RC Drilling Progress and High-Grade Boulder Discoveries at TPK - More
- September 15, 2010 | Item | ShareThis

East Asia Intercepts 0.5 g/t Gold, 0.22% Copper Over 128 Metres, Within 499.7 Metres Grading 0.26 g/t Gold, 0.11% Copper in Second Hole at Lower Tengkereng - More
- September 15, 2010 | Item | ShareThis

Ruby Creek Resources Announces New Board Member - More
- September 15, 2010 | Item | ShareThis

Zincore In-Fill Drilling Confirms Continuity of High Grade Mineralization Between Sections at Accha Project - More
- September 15, 2010 | Item | ShareThis

Continental Nickel Reports Final Assay Results Including 0.63% Nickel and 0.22% Copper Over 21.4 Metres at the St. Stephen Nickel-Copper Sulphide Project - More
- September 15, 2010 | Item | ShareThis

New Dimension Confirms Gold Zone in Amador Canyon, Nevada - More
- September 15, 2010 | Item | ShareThis

Explor Intersects 11.15 Meters of 5.38 g/Tonne Au on Timmins Porcupine West - More
- September 15, 2010 | Item | ShareThis

Abitex Reports Final Assay Results Including 0.63% Nickel and 0.22% Copper Over 21.4 Metres at the St. Stephen Project - More
- September 15, 2010 | Item | ShareThis

Guyana Goldfields Announces Intent to Divest Its Non-Core Assets - More
- September 15, 2010 | Item | ShareThis

Mercer Gold Signs Drill Contract for Guayabales Gold Project, Colombia - More
- September 15, 2010 | Item | ShareThis

TEMEX BEGINS DRILLING on NI 43-101 614,000 OZ JUBY GOLD DEPOSIT - More
- September 15, 2010 | Item | ShareThis

Franconia Minerals Announces Appointment of Special Committee to Review Strategic Alternatives - More
- September 15, 2010 | Item | ShareThis

INV Metals Inc.: Copper Zone Discovered at Kaoko Copper Property, Namibia - More
- September 15, 2010 | Item | ShareThis

Barkerville Pours First Gold Bar-Full Scale Gold Production Achieved - More
- September 15, 2010 | Item | ShareThis

Big Bear Mining Corp Announces Details of Exploration Program on Rattlesnake Hills Claims in Natrona County, Wyoming - More
- September 15, 2010 | Item | ShareThis

Molycor Receives Hazen Research's Phase 1 Process Development Study for Exploitation of Tami Mosi Dolomite Resource - More
- September 15, 2010 | Item | ShareThis

New Drilling Program Commences at Back Forty Project: Aquila Announces Final Results of 2009/2010 Drilling Program Including 65.0 Meters 1.6 g/t Gold - More
- September 15, 2010 | Item | ShareThis

Centamin Egypt Limited-28% Increase in Sukari Proven and Probable Reserves - More
- September 15, 2010 | Item | ShareThis

First Quantum Minerals Commences Legal Proceedings Against ENRC Subsidiaries - More
- September 15, 2010 | Item | ShareThis

Minera IRL Announces New Gold/Silver Discovery at its Escondido Project, Patagonia - More
- September 15, 2010 | Item | ShareThis

Quaterra Provides Update on Two Alaska Properties - More
- September 15, 2010 | Item | ShareThis

Ivanhoe Mines Ltd.: Alert Issued About False and Misleading Statements Published by the Australian and Business Spectator - "Editors and journalists are advised that stories published in The Australian newspaper on September 15, 2010, and on the Business Spectator website on September 14, 2010, contained false and misleading information concerning Ivanhoe Mines and the rapidly advancing Oyu Tolgoi mine development project." More
- September 15, 2010 | Item | ShareThis

Kinross Shareholders Approve Red Back Combination - "Kinross Gold Corporation (TSX:K - News)(NYSE:KGC - News) today announced that its shareholders have approved an ordinary resolution authorizing the issuance of Kinross common shares and common share purchase warrants (the "Shareholder Resolution") in connection with the previously announced arrangement involving Red Back Mining Inc. under the Canada Business Corporations Act (the "Arrangement")." More
- September 15, 2010 | Item | ShareThis

Silver Quest Intersects Gold Mineralization on Boulevard, Yukon - "Silver Quest Resources Ltd. (TSX VENTURE:SQI - News; the "Company") is pleased to announce that gold mineralization has been intersected during the 2010 drill program on the Boulevard Project ("Boulevard"), located in the White Gold District, Yukon." More
- September 15, 2010 | Item | ShareThis

Allied Nevada: Metallurgical Milling Test Results Show Combined Recoveries of 87.2% for Gold and 81.7% for Silver at Hycroft - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV - News)(AMEX:ANV - News) is pleased to announce that is has received positive initial metallurgical results for milling oxides at its wholly owned Hycroft mine, located near Winnemucca, Nevada. Results of the metallurgical testing on eight (8) oxide composite samples show average recoveries of 84.0% for gold and 65.6% for silver can be achieved through a flotation circuit with cyanidation of the tailings. The eight composites were comprised of samples taken from the various deposits on the property. The highest recoveries were achieved in the Vortex and Brimstone areas, where the largest volume of resource is located. When combined with indicated recoveries of sulfide mineralization of 88% for gold and 86% for silver, overall recoveries of 87.2% for gold and 81.7% for silver may be achieved through a milling circuit." More
- September 15, 2010 | Item | ShareThis

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