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Gold Seeker Closing Report: Gold and Silver Fall Almost 1% and 2%

By: Chris Mullen, Gold-Seeker.com


-- Posted 7 October, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1334.70

-$11.50

Silver

$22.57

-$0.44

XAU

201.30

-2.65%

HUI

514.79

-3.02%

GDM

1559.22

-2.82%

JSE Gold

2527.42

-41.85

USD

77.45

+0.06

Euro

139.17

-0.21

Yen

121.32

+0.73

Oil

$81.67

-$1.56

10-Year

2.396%

-0.003

T-Bond

134.4375

-0.375

Dow

10948.58

-0.17%

Nasdaq

2383.67

+0.13%

S&P

1158.06

-0.16%

 
 

 

The Metals:

 

Gold rose as much as $18.50 to a new record high of $1364.70 by a little after 4AM EST in Asia and held most of those gains for much of trade in London, but it then fell off rather markedly for most of trade in New York and ended near its early afternoon low of $1325.72 with a loss of 0.85%.  Silver climbed to a new 30-year high of $23.491 in Asia before it also fell back off in New York and ended near its early afternoon low of $22.425 with a loss of 1.91%.

 

Euro gold fell to about €961, platinum lost $8.75 to $1694.75, and copper fell over 7 cents to about $3.67.

 

Gold and silver equities fell roughly 3% by early afternoon and remained near their lows into the close.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

10/02

445K

455K

456K

Consumer Credit

Aug

-$3.3B

-$3.0B

-$4.1B

 

Tomorrow at 8:30AM EST brings September’s jobs data and at 10AM is the Wholesale Inventories report for August expected at 0.4%.  Nonfarm Payrolls are expected at 0, the Unemployment Rate is expected at 9.7%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.2.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil fell as the U.S. dollar index reversed early losses and ended slightly higher ahead of tomorrow’s jobs report.

 

Treasuries saw slight losses along with the Dow and S&P on caution ahead of tomorrow’s jobs report.  The Nasdaq found a small gain.

 

Among the big names making news in the market today were Alcoa, Yahoo, PepsiCo, and the retailers.

 

The Commentary:

 

Dear CIGAs,

 

It’s amazing what a bit of a blip higher in the Dollar can do to these markets! Overnight gold soared into a new record high above $1365 with silver following suit putting in a fresh 30 year high at $23.53 as the Dollar continued sinking further in the Asian and early European trading. Enter New York and it was not long before the Euro, the Swissie and the Pound began giving up their gains and out came the selling in the metals pits.

 

The mining shares were ignominiously dumped breaking down below 520, the previous all-important chart resistance level, as they sank all the way down to 510 before finally recovering their composure somewhat. You might recall that the 510 level was a barrier that the HUI had to overcome on its way up so this region on down towards 500 should hold if the bull market in the shares is to remain vibrantly intact.

 

I am not exactly sure what the catalyst for all these gyrations were but I do know that as I warned yesterday, noise came out of Europe about the level of the Euro as once it passed 1.40 it was not long before Trichet trotted out to the microphone decrying disorderly foreign exchange markets. That is monetary authoritese for “we don’t like the Euro getting so strong”. Maybe he spooked a bunch of Euro longs but the fact is that unless the Europeans are willing to actually do something in regards to their current monetary policy, (actually lower interest rates instead of holding them steady) there is no fundamental reason to stop bidding the Euro higher against the Dollar. He knows that and everyone else on the planet does too.

 

The problem here is that the Europeans are not engaging in the currency devaluation wars with sufficient gusto and thus the market is bidding their currency higher as yield hungry investors are grasping at anything that gives them a better rate of return than they can expect on US debt. That is one of the reasons that the Australian Dollar is so strong – overnight news revealed more strength in their economy with many now believing that the next move for their Reserve Bank will be to actually RAISE rates instead of lowering them. My guess is that the market will soon get tired of the microphones in Europe and get back to bidding the Euro higher soon enough. Europe is in the exact same boat as the castrated Bank of Japan is – they are powerless to fight the trillions that the Bernanke-led Fed is going to create with their next round of Quantitative Easing. The supply of greenbacks is basically going to infinity so unless the European Central Bank and the Bank of Japan engage in serious intervention over and over again, or decide to out QE quick draw Ben, they are going to lose and lose big. To add further insult to the BOJ, the Yen just made a 15 year high against the Dollar. How’s that for rubbing their noses in the dirt?

 

I am sure that the readers are probably sick and tired of me making comments about the neutering of the Bank of Japan but you have to understand how incredible a development this is. For years we speculators feared and stood in awe of them and here they are suddenly rendered irrelevant within a few week’s time period. It is a stunning drama that I still find it hard to actually believe has occurred. I keep expecting for some flash of strength for old time’s sake as the aging Tiger rears itself for one final desperate display of power but alas, it is not to be. If they do not come out of this coming weekend’s meeting on Sunday evening or perhaps Monday with a salvo at the yen longs, it is time to bury them. What really amazes me is that they have been thus far turning a deaf ear to the rising crescendo of complaints from their business leaders. Either that, or between China buying up all their bonds and Bernanke spitting out dollars like confetti, they have folded their tent and gone away to enjoy retirement and drinking lots of sake.

 

Back to gold – today is the first sign of some technical trouble for the bulls. The chart pattern is one of a downside reversal although the way this market has been responding to dips in price, it would take a close down below $1,315 to give me much reason for concern. Even at that, price could dip as low as $1300 – $1,297 and not cause any particular problems for the chart pattern. I would not want to see it drop below $1,275 and not pop back up that level prior to the close of pit session trading however.

 

To resume the uptrend bulls need to take out today’s high which will give them a shot at making a run towards $1,380. Let’s see how India responds overnight to this gift. They have been looking for setbacks in price to buy.

 

I noticed that there were some washouts occurring in several commodity markets today, notably copper, crude oil and the hogs while others were higher. Cotton was limit up for example and the grains, particularly corn were higher. Generally when we see a blip in the Dollar, it is almost a given that commodities are going to be sold across the board. They were not.

 

That tells me that what we are seeing is more geared to the internal status of individual commodity markets and not the sector as a whole. Some speculative length is getting washed out, nothing more. Nothing has changed – the US fiscal condition is horrific and it remains on an unsustainable path which can easily descend quite rapidly given a catalyst, especially one that is unexpected.

 

Silver is doing what silver does best – making volatility in gold look like watching paint dry. It swung more than a $1.00 from top to bottom today (How’s the heartburn Louie?  Okay – How’s the ulcers Richie?) Get used to it is the only thing that can be said. I would like to see it maintain its footing above $23 to give it a shot at $25 but so far no dice. We’ll see what it does as it closes out the week tomorrow.  There is some further chart support down near $22.10.

 

I would also like to see the HUI recapture 520 soon as that is the key to the uptrend resuming. If it cannot recapture that level but maintains itself above 500, the odds are for a range trade with the bull trend resting until it resumes enough energy to take out 520 once again. A push below 490 would spell some further trouble for the bulls.

 

The Dollar did bounce away from the 77 level just as it did the 79 level and the 78 level before those gave way. We’ll see if it has better success this time around and can climb much higher. Much will depend on data releases scheduled for the morning tomorrow from the Labor department which will give us a glimpse into the status of the job market. Expect any negative surprises to have an immediate effect on the Dollar for the worse as QE will once again be on the minds of everyone. A friendly figure might see some further short covering in the greenback heading into the weekend but for now, rallies in the Dollar appear to be nothing more than dead cat bounces.

 

Bonds are off a tad and crude oil seems to have failed to hold at $83 lessening its chances of making a quick run at $87 for now. Consumers no doubt are breathing a sigh of relief, if only for a while.- Dan Norcini, More at JSMineset.com

 

GATA Posts:

 

 

Lee Quaintance: Gold's upward revaluation can solve the big economic problems

GoldSeek interviews GATA secretary about lawsuit seeking Fed's gold records

J.S. Kim: Gold and silver -- This time it IS different

Alasdair Macleod: The noose tightens for gold bears

Smaller dips in gold being bought, Turk tells CNBC Europe

Reuters devotes a whole story to James Turk's views on gold, silver

 

The Statistics:

Activity from: 10/06/2010

Gold Warehouse Stocks:

10,959,593

-32

Silver Warehouse Stocks:

112,499,202

+626,245

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)

SPDR® Gold Shares

1301.913

41,857,792

US$56,294m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

126.56

4,069,083

US$5,434m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

129.30

4,157,075

US$5,553m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,416

US$611m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

49.34

1,586,201

US$2,136m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,968

US$7m

Note: Change in Total Tonnes from yesterday’s data: The LSE ETFS added 1.41 tonnes and the JSE added 0.12 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 100.16 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9944.14: +66.94 change from yesterday’s data.

 

The Miners:

 

ITH’s (THM) drill results, IAMGOLD’s (IAG) mine opening, AngloGold’s (AU) eliminated hedge book, South American Silver’s (SAC.TO) drill results, Endeavour’s (EXK) third quarter production, ECU Silver’s (ECU.TO) discovery, Golden Minerals’ (AUMN) equity financing terms, Bear Creek’s (BCM.V) feasibility study, and Apogee’s (APE.V) permitting update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Fronteer

FRG+1.50% $7.45

2.  Solitario

XPL +1.37% $2.33

3.  Seabridge

SA+1.32% $29.95

 

LOSERS

1.  Gold Reserve

GRZ -9.38% $1.45

2.  Almaden

AAU -8.39% $2.85

3.  Banro

BAA -6.20% $2.42

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

All of today's gold and silver stock news:

Riva Closes $3.25 Million Private Placement and Grants Stock Options - More
- October 07, 2010 | Item | ShareThis


Virginia Mines Inc.: $3 M Flow-Through Private Placement Financing - More
- October 07, 2010 | Item | ShareThis


Strategic Metals Ltd. Announces Appointment of Bruce Youngman as Chairman of the Board and Granting of Incentive Stock Options - More
- October 07, 2010 | Item | ShareThis


Bison Gold Resources Inc. Announces a Flow-Through Private Placement Financing - More
- October 07, 2010 | Item | ShareThis


Bullion Monarch Mining Inc. 2010 Annual Meeting Vote Results - More
- October 07, 2010 | Item | ShareThis


Uranium Resources, Inc. Regains Compliance with NASDAQ Minimum Bid Price Requirement - More
- October 07, 2010 | Item | ShareThis


Eastfield Discovers New Mineralization at the Zymo Copper-Gold Property - More
- October 07, 2010 | Item | ShareThis


Sniper Sets Closing Date for Initial Public Offering - More
- October 07, 2010 | Item | ShareThis


Sage Gold Inc.: Airborne ZTEM Survey-Onaman Beardmore-Geraldton Gold Camp - More
- October 07, 2010 | Item | ShareThis


Goldcliff Highlights Prime Silver Target - More
- October 07, 2010 | Item | ShareThis


Nemaska Exploration Ranks First in Canadian Hard Rock Lithium Projects by Independent Researcher-SignumBOX - More
- October 07, 2010 | Item | ShareThis


Aura Silver Initiates Ground Geophysics on Its High Grade Gold/Silver Property at Greyhound, NU - More
- October 07, 2010 | Item | ShareThis


Castle Resources Completes $10,320,000 Private Placement - More
- October 07, 2010 | Item | ShareThis


Kiska Sells Mexican Projects - More
- October 07, 2010 | Item | ShareThis


Silvore Fox Minerals Announces Completion of Airborne Survey at the Coxheath Property - More
- October 07, 2010 | Item | ShareThis


Stina Completes Core Drill Program on Dime Property - More
- October 07, 2010 | Item | ShareThis


G4G Resources and Iron Sands Americas Awarded Iron Sands Reconnaisance Licence Extension - More
- October 07, 2010 | Item | ShareThis


South American Silver Announces New Drill Results Extending Higher Grade Mineralization at the Malku Khota Silver Indium Project - "South American Silver Corp. (TSX:SAC - News)(PINK SHEETS:SOHAF - News) is pleased to announce new exploration drilling results for the 100%-owned Malku Khota silver-indium project in Bolivia. In early August, the Company announced that it was accelerating exploration and engineering activities on the project including mobilization of three drills to the site to increase drill production prior to updating the resource estimate, which is planned for release later this fall." More
- October 07, 2010 | Item | ShareThis


Bridgeport Ventures Inc. Reports Assay Results - More
- October 07, 2010 | Item | ShareThis


Evolving Gold Reports Additional Gold Intersections from Rattlesnake Hills - More
- October 07, 2010 | Item | ShareThis


Commander Receives 12 Million Shares of Maritime Resources with Completion of Orion Gold Deal - More
- October 07, 2010 | Item | ShareThis


Pershimco Resources Inc./Addition To The Team: Dr. Michael Druecker, Ex BHP Minerals Country Manager - More
- October 07, 2010 | Item | ShareThis


Red Cliff East Drill Mobilization on BC Project Never Drilled Before - More
- October 07, 2010 | Item | ShareThis


Trijet Mining Corp. Engages MI3 Communications Financieres Inc. for Investor Relations - More
- October 07, 2010 | Item | ShareThis


Merrex Gold-IAMGOLD Accelerates 2010 Exploration Expenditures at Siribaya - More
- October 07, 2010 | Item | ShareThis


Fancamp Announces Additional Financing - More
- October 07, 2010 | Item | ShareThis


Ucore Comments on the Passage of Domestic Rare Earths Legislation by the U.S. House of Representatives - More
- October 07, 2010 | Item | ShareThis


Current Drill Program at Eldor Rare Earth Project Expanded 50% - More
- October 07, 2010 | Item | ShareThis


Mr. Gordon Peake and Mr. Ron Driscoll Join Tigris Uranium Corp. - More
- October 07, 2010 | Item | ShareThis


United Reef Settles Property Option Payments by Issuing 400,000 Shares - More
- October 07, 2010 | Item | ShareThis


Goldstone Announces Further Key Lake Results - More
- October 07, 2010 | Item | ShareThis


United Mining Group Signs Milling Agreement - More
- October 07, 2010 | Item | ShareThis


Southern Silver Exploration Corp.: FMEC to Drill Second Hole at Southern Silver's Dragoon Project - More
- October 07, 2010 | Item | ShareThis


Sona Resources Corp.: Initial Results Received from Underground and Surface Sampling at Elizabeth Gold Property - More
- October 07, 2010 | Item | ShareThis


Asian Mineral Resources Announces Director Appointment - More
- October 07, 2010 | Item | ShareThis


San Gold Discovers New Zones Below Hinge Mine - More
- October 07, 2010 | Item | ShareThis


Puma Exploration Inc.: Deep Drilling at the Turgeon Copper Project - More
- October 07, 2010 | Item | ShareThis


ESO Welcomes Warren Stanyer to the Board - More
- October 07, 2010 | Item | ShareThis


Endeavour Silver Produces 797,054 oz Silver (Up 20%) and 4,607 oz Gold (Up 28%) in Third Quarter, 2010 - "Endeavour Silver Corp. (TSX:EDR - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announced today its silver and gold production for Q3, 2010 from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State." More
- October 07, 2010 | Item | ShareThis


American Consolidated Minerals Corp.: Deep Drilling Completed at Toiyabe Project, Nevada, New Drilling Targets Defined - More
- October 07, 2010 | Item | ShareThis


Alderon Intersects 30% Iron Over 429 Meters - More
- October 07, 2010 | Item | ShareThis


ATW Executes Farm-In Agreement on Cobra Gold Project in Western Australia - More
- October 07, 2010 | Item | ShareThis


Ralf Kleine Appointed President of Starcore - More
- October 07, 2010 | Item | ShareThis


Laurion Provides Update on Bell Mountain Drill Program - More
- October 07, 2010 | Item | ShareThis


Azimut and Aurizon complete comprehensive work program at Rex South, Nunavik, Quebec - More
- October 07, 2010 | Item | ShareThis


Queenston Reports 17.88 g/t Au Over 11.9 m From Drilling at the Amalgamated Kirkland Gold Deposit - More
- October 07, 2010 | Item | ShareThis


Rencore Acquires Claims in the Ring of Fire - More
- October 07, 2010 | Item | ShareThis


Nevada Gold Holdings Inc. Announces 1-for-15 Reverse Stock Split - More
- October 07, 2010 | Item | ShareThis


Threegold Launches Fall Exploration and Grants Stock Options - More
- October 07, 2010 | Item | ShareThis


Olympus Reports Increased Gold Production in Third Quarter - More
- October 07, 2010 | Item | ShareThis


North American Tungsten Announces: Production Commences at the Cantung Mine; New Loan Facilities; CEO Appointed President of the International Tungsten Industry - More
- October 07, 2010 | Item | ShareThis


Minera Andes Announces Discovery of 5 Kilometres of New High-Grade Gold/Silver Veins at San Jose Mine - More
- October 07, 2010 | Item | ShareThis


Norvista Resources Corporation Exercises the Option on High Desert Gold's Canasta Dorada Gold Project in Mexico - More
- October 07, 2010 | Item | ShareThis


American Lithium Completes Sampling Program at the Borate Hills Project - More
- October 07, 2010 | Item | ShareThis


Avala Resources Intersects 83.5 Meters of 1.28 g/t Gold From a Depth of 2.5 Meters at Kraku Pestar in Serbia - More
- October 07, 2010 | Item | ShareThis


TVI Pacific Acquires Rights to Exploration Property Near Canatuan Mine, Including Drill-Ready Prospects - More
- October 07, 2010 | Item | ShareThis


Pelangio Exploration Announces Third Gold Discovery at the Manfo Property-24.7 g/t Over 5 Metres - More
- October 07, 2010 | Item | ShareThis


Sulliden Continues Exploration Success at Shahuindo; 5th Drill Active on Site - More
- October 07, 2010 | Item | ShareThis


Belo Sun Mining Intersects 31.90 Meters Grading 3.05 g/t Gold Including 14.05 Meters Grading 5.13 g/t Gold at Volta Grande Project, Brazil - More
- October 07, 2010 | Item | ShareThis


Terraco Announces Moonlight Exploration Underway - More
- October 07, 2010 | Item | ShareThis


NKWE Platinum Ltd. Joins OTCQX - More
- October 07, 2010 | Item | ShareThis


TNR Gold Incorporates Ameri Gold to Advance Shotgun Gold Project in Alaska - More
- October 07, 2010 | Item | ShareThis


Alamos Gold Inc. Reports Third Quarter 2010 Operating Results, Maintains Annual Production Guidance, and Provides Notice of Third Quarter 2010 Financial Results - More
- October 07, 2010 | Item | ShareThis


Bonterra Stakes Near Beaufield in Quebec - More
- October 07, 2010 | Item | ShareThis


Avion Closes Acquisition of the Hounde Group Concessions in Burkina Faso - More
- October 07, 2010 | Item | ShareThis


ECU Silver Discovers Second New Vein on the Chicago Property - "The Company has now received assays from this second vein for a length of 45 meters with grades averaging 6.99 grams per tonne (g/t) gold (Au), 393 g/t silver (Ag), 9.02% lead and 6.83% zinc over an average width of 0.26 meters (1 foot). Assays were based on 15 cuts separated by approximately 3 meters (10 feet) each, with the best cut grading 14.98 g/t Au, 599 g/t Ag, 9.12% lead and 16.21% zinc over an average width of 0.30 meters (1 foot)." More
- October 07, 2010 | Item | ShareThis


Golden Minerals Announces Terms of US$75 Million Equity Financing - "Golden Minerals Company (AMEX:AUMN - News) (TSX:AUM - News) ("Golden Minerals" or "the Company") is pleased to announce that in connection with its overnight marketed public offering previously announced on October 6, 2010 (the "Offering"), it has entered into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Dundee Securities Corporation, Haywood Securities Inc., Rodman & Renshaw, LLC, Roth Capital Partners and Scarsdale Equities LLC (the "Underwriters") to sell 4,055,000 shares of common stock of the Company at a price of US$18.50 per share ("Common Shares") for gross proceeds of US$75,017,500. In addition, the Company has granted the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 5 days after the closing of the Offering." More
- October 07, 2010 | Item | ShareThis


International Tower Hill Continues Expansion of the Core Zone at Depth at the Livengood Project, Alaska - "International Tower Hill Mines Ltd. (TSX:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) ("ITH" or the "Company") is pleased to announce the results from the latest 20 holes completed in its 50,000-metre Summer 2010 Livengood Exploration Program (to see Fig. 1 please click on: http://media3.marketwire.com/docs/ith107.jpg). The infill portion of the Summer program is focused on conversion of resources to the measured and indicated categories as well as testing the down dip extension potential of the deposit. The Company is currently operating seven drills at Livengood (three RC and four core rigs)." More
- October 07, 2010 | Item | ShareThis


IAMGOLD Officially Opens its Essakane Mine in Burkina Faso - "IAMGOLD Corporation ("IAMGOLD" or the "Company") (TSX:IMG - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) earlier today officially opened its new Essakane gold mine in Burkina Faso (in West Africa) with a ceremonial pour. The event was attended by senior government officials, including The Honourable Prime Minister Tertius Zongo, IAMGOLD senior management and other stakeholders from across the region." More
- October 07, 2010 | Item | ShareThis


Bear Creek Announces Robust Santa Ana Feasibility Study; Over 63 Million Ounces of Silver Converted to Reserves - "Bear Creek Mining Corporation (TSX Venture:BCM.v - News) ("Bear Creek" or the "Company") is very pleased to announce the results of a positive feasibility study ("the "Feasibility Study" or FS"), as defined by National Instrument 43-101 ("NI 43-101"), for its 100% owned Santa Ana silver deposit located in southern Peru." More
- October 07, 2010 | Item | ShareThis


AngloGold Ashanti Eliminates Hedge Book, Gains Full Exposure to Gold - "AngloGold Ashanti's (NYSE:AU - News) has completed the elimination of its gold hedge book, providing the company and its shareholders with full exposure to the prevailing gold price. The company will now sell the gold it produces at market prices and therefore expects to enhance cash flow and profit margins as a result of removing hedge contracts with low committed gold prices." More
- October 07, 2010 | Item | ShareThis


Apogee Provides Update on Environmental Permitting and Environmental Baseline Studies for the Pulacayo Project, Bolivia - "Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:APE - News) is pleased to provide an update on the ongoing environmental monitoring and baseline studies required to secure the necessary permits from the Bolivian Ministry of Water and Environment (the "BMWE") for the proposed development of the Pulacayo deposit, located in southwest Bolivia." More
- October 07, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2010

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted 7 October, 2010 | |


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