Gold Seeker Closing Report: Gold and Silver Erase Early Losses and End Mixed

	Close	Gain/Loss
Gold	$1651.80	-$22.40
Silver	$31.85	+$0.09
XAU	193.13	+0.16%
HUI	544.46	+0.47%
GDM	1575.96	+0.55%
JSE Gold	2786.52	-48.69
USD	77.07	-0.07
Euro	137.52	+0.11
Yen	130.18	-0.02
Oil	$88.34	+$1.96
10-Year	2.151%	-0.004
T-Bond	139.59375	-0.15625
Dow	11577.05	+1.58%
Nasdaq	2657.43	+1.63%
S&P	1225.38	+2.04%

Gold dropped almost $50 all the way to $1626.84 by a little after 10AM EST, but it then rallied back higher in the next few hours of trade and ended with a loss of just 1.34%. Silver slumped over 4% to as low as $30.388 by a little after 8AM EST, but it then soared back higher in New York and ended near its late session high of $32.098 with a gain of 0.28%. Both metals are climbing even higher in afterhours access trade as well.

Euro gold fell to about €1202, platinum lost $19.80 to $1530.20, and copper fell slightly to about $3.36.

Gold and silver equities fell over 4% by midmorning, but they then rallied back higher for most of the rest of trade and ended with slight gains.

Report	For	Reading	Expected	Previous
PPI	Sep	0.8%	0.2%	0.0%
Core PPI	Sep	0.2%	0.1%	0.1%
Net Long-Term TIC Flows	Aug	$57.9B	-	$9.1B
NAHB Housing Market Index	Oct	18	15	14

Tomorrow at 8:30AM EST brings Housing Starts for September expected at 595,000, Building Permits expected at 610,000, and CPI for September expected at 0.3%. Core CPI is expected at 0.2%. At 2PM is the fed’s Beige Book from October.

The U.S. dollar index and treasuries reversed early gains and plummeted in late trade on reports that France and Germany have agreed to expand Europe’s bailout fund to the tune of €2 trillion.

Oil reversed early losses and followed the Dow, Nasdaq, and S&P higher on relief over Europe.

Among the big names making news in the market today were IBM, BofA, J&J, Goldman Sachs, UnitedHealth, and Citigroup.

“Gold has once again failed to sustain its footing for any length of time above the critical $1680 resistance level. Last Friday it managed to eke out a close above this level but just barely. "Just barely" does not constitute a convincing technical breakout so it had the opportunity to try to be more emphatic in today's (Monday’s) session.

As trade moved into early European trade, the gold price took off to the upside buoyed by comments out of the G20 summit that seemed to indicate decisive action and timely action was going to occur in Europe in regards to their bank recapitalization/stability mechanism plan. It moved up towards $1700 on strong buying which then evaporated as comments out of Germany throw a bucket of cold water on the hopes of traders/investors that the bureaucrats were going to follow through on intentions expressed at the summit.

Down went gold along with silver and along with the stock markets. Up went the Dollar; up went the long bond and down went the Euro and the commodity currencies. Once more it was, "RISK OFF" and so back to the same old same ol'.

It certainly did not aid the case of the bulls in the metals to look over at the HUI and observe it disintegrating as it failed to even touch the 560 level, a level which it MUST better to get anything exciting going to the upside. It dropped back down towards support at 540 and managed a squeaker of a close above there but if it loses that level, it is going to fade towards the lower end of the range near 520 to see if any buyers will emerge there.

Silver once again stumbled at the $32.50 level and dropped back into the trading range which continues to confine it. As expected when the risk trades are being yanked, silver underperformed gold in today's session. That will continue as long as RISK AVERSION is in vogue.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/

COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.70: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,954.27: No change from yesterday’s data.

Taseko’s (TGB) economic study, Allied Nevada’s (ANV) drill results, Brigus Gold’s (BRD) optioned interest in the Ixhuatan gold project, Northern Dynasty’s (NAK) borough ordinance, Freeport’s (FCX) production, and Revett’s (RVM) third quarter 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.

Soldi Ventures Inc. Receives Drill Permit for the Golden Bullet Project, Newfoundland - More
- October 18, 2011 | Item | ShareThis

Caldera Acquires Exploration License West of Marjan - More
- October 18, 2011 | Item | ShareThis

Northern Freegold Announces Senior Management Appointments - More
- October 18, 2011 | Item | ShareThis

Fancamp Exploration Intersects 61.4 Metres Grading 30.3% Total Iron at Its Emerging Lac Lamelee South Project - More
- October 18, 2011 | Item | ShareThis

Platinex Reports More Prospective Gold Grain Counts from Shining Tree Till Sampling Program - More
- October 18, 2011 | Item | ShareThis

Oracle Mining Hires European IR Consultants - More
- October 18, 2011 | Item | ShareThis

Yorbeau Provides Update on Drilling at its Rouyn Project - More
- October 18, 2011 | Item | ShareThis

Canamex to Commence Drilling at Bruner Gold Deposit, Central Nevada - More
- October 18, 2011 | Item | ShareThis

Linear Metals Intersects Significant Gold Mineralization in Ongoing Drilling Program at the Awuoro-Kanga Grid - More
- October 18, 2011 | Item | ShareThis

Amerix Provides Exploration Update at Limao Gold Property, Brazil - More
- October 18, 2011 | Item | ShareThis

Xmet Inc. Intersects Gold Mineralization on Surface: 12.25 g/t Au over 1.3m and 3.18 g/t Au over 4.2m - More
- October 18, 2011 | Item | ShareThis

Creso Exploration Commences Drill Program on Ontario Properties - More
- October 18, 2011 | Item | ShareThis

Jayden Reports 5.27 g/t Gold Over 11.8 Meters and 8.11 g/t Gold Over 5.1 Meters, Including 22.79 g/t Over 1.6 Meters in Hole SC11-386 - More
- October 18, 2011 | Item | ShareThis

resourceINTELLIGENCE and Leeward Capital: Go Underground at Nithi Mountain Molybdenum Project Drill Tour - More
- October 18, 2011 | Item | ShareThis

Maragas Winery Reports 79% Yield Increase on Excelerite(R)-Treated Vine Rows - More
- October 18, 2011 | Item | ShareThis

Prominex Closes $200,000 Flow-Through Financing - More
- October 18, 2011 | Item | ShareThis

SEMAFO Drills 4.07 g/t Au Over 43 Meters to Further Expand Wona SW Deep Zone at Mana - More
- October 18, 2011 | Item | ShareThis

Trelawney Intersects 126.60 Metres of 1.52 g/t Gold and 421.60 Metres of 0.82 g/t Gold at Cote Lake - More
- October 18, 2011 | Item | ShareThis

Eastplats Reports Production Results for the Quarter Ended September 30, 2011 - More
- October 18, 2011 | Item | ShareThis

EurOmax Begins Drilling Newly Developed Targets at Its 100% Controlled KMC Gold-Copper Project, Serbia - More
- October 18, 2011 | Item | ShareThis

Drilling Commences on Balmoral's Northshore Property, Ontario - More
- October 18, 2011 | Item | ShareThis

GTA to Commence Drilling on Northshore Property - More
- October 18, 2011 | Item | ShareThis

Vantex Intersects 7.79 g/t Au Over 6 Metres on Moriss - More
- October 18, 2011 | Item | ShareThis

Galahad Metals Inc./REGCOURT: More Notable Gold Mineralization From Phase II Diamond-Drilling - More
- October 18, 2011 | Item | ShareThis

Latin American Minerals Announces the Appointment of Mr. Julio Martinez as Chief Financial Officer - More
- October 18, 2011 | Item | ShareThis

Metals Creek Resources Receives $173,372.07 NSR Payment for Tilt Cove - More
- October 18, 2011 | Item | ShareThis

Balaton Power Retains The Eversull Group, Inc. - More
- October 18, 2011 | Item | ShareThis

Uranium Resources’ License to Produce Up to 3 Million Pounds of Uranium Gets Reactivated by the NRC - More
- October 18, 2011 | Item | ShareThis

Red Metal Resources Reports Reconnaissance Sample Assays of 10.30% Copper and 21.72 g/t Gold on Mateo Property - More
- October 18, 2011 | Item | ShareThis

Klondex Mines Continues to Advance Surface Exploration and Underground Development at its Fire Creek Gold Project in Nevada - More
- October 18, 2011 | Item | ShareThis

Barkerville Gold Mines Intercepts 21.5 meters (70.5 feet) of 9.97 g/T (0.291 oz/t) Gold Including 2.8 meters (9.2 feet) of 52.0 g/T (1.516 oz/t) Gold - More
- October 18, 2011 | Item | ShareThis

Kincora Copper Announces Extensive Copper Mineralization Zones - More
- October 18, 2011 | Item | ShareThis

Crosshair Drills 0.08% eU3O8 over 7.5 feet at Bootheel - More
- October 18, 2011 | Item | ShareThis

Drilling at Woodjam South (Southeast Zone) Yields 315.8 m Grading 0.40% Copper, 0.04 g/t Gold and 0.02% Molybdenum, Including 121 m Grading 0.60% Copper - More
- October 18, 2011 | Item | ShareThis

Excellon Announces Initial Drill Results From Its Desantis Project, Ontario, Including 3.63 Grams Per Tonne Gold Over 23.17 Metres in Hole DS11-010A - More
- October 18, 2011 | Item | ShareThis

Lydian Drilling Extends Resource Potential 1km Southwest of Resource Shell at New "Orontes" Area, Deeper Drilling Intersects 27 Meters at 4.2g/t Gold - More
- October 18, 2011 | Item | ShareThis

Silver Dragon Reports on Exploration Progress at Its Aobaotugounao Silver-Lead-Zinc Polymetallic Property in Northern China - More
- October 18, 2011 | Item | ShareThis

Kivalliq Energy Corporation: 2011 Field Season Successfully Completed; Over 30,000 Metres Drilled - More
- October 18, 2011 | Item | ShareThis

Jiulian Options Big Kidd Property to Major Mining Company - More
- October 18, 2011 | Item | ShareThis

Cangold Completes Acquisition Transaction for Option of Ixhuatan Gold Project - More
- October 18, 2011 | Item | ShareThis

Lithium Americas Announces Financial and Operating Results For The Three Months Ended August 31, 2011 - More
- October 18, 2011 | Item | ShareThis

Alto Confirms Large Gold System at Miner Lake, Ontario - More
- October 18, 2011 | Item | ShareThis

Results From Malaga Drilling Identify High Tungsten Values Associated With Gold and Copper - More
- October 18, 2011 | Item | ShareThis

Mineral Mountain Resources Ltd. Confirms "Hammond Reef Style" Bulk Tonnage Gold Potential at Pine Centre - More
- October 18, 2011 | Item | ShareThis

Primero Announces Commencement of Advance Tax Ruling Process in Mexico and Provides Update on Tax Strategies; Seeking Taxes Be Based on Realized Revenue - More
- October 18, 2011 | Item | ShareThis

Advanced Explorations Inc. Intersects 196 Metres of 31.32% Iron at Tuktu Project - More
- October 18, 2011 | Item | ShareThis

NEVADO Hires Michael Dry, PhD, to Lead the Hydrometallurgical Process Modeling at the La Blache Iron-Titanium-Vanadium Project - More
- October 18, 2011 | Item | ShareThis

North American Nickel Updates Post Creek Drill Program, Sudbury, Ontario - More
- October 18, 2011 | Item | ShareThis

Drill Program Extends El Domo Deposit; Salazar Cuts 8.18 Meters of 3.3 g/t Gold, 100.5 g/t Silver & 9.95% Zinc - More
- October 18, 2011 | Item | ShareThis

Nevada Sunrise Gold Corp's AGM Held on October 14, 2011 - More
- October 18, 2011 | Item | ShareThis

Kirkland Lake Gold Inc.: Result of Annual Meeting - More
- October 18, 2011 | Item | ShareThis

Taseko's New Prosperity Mine Would Increase Real GDP by $11 Billion, Add 71,000 Jobs Over 20 Years, New Study Reveals - "A new comprehensive economic study of Taseko Mines' (TSX:TKO.to - News) ("Taseko") proposed $1.5 billion New Prosperity Gold Copper Project located in British Columbia reveals that the project would provide a significant economic stimulus to the economy, and create thousands of new jobs for Canada over its 20 year mine life." More
- October 18, 2011 | Item | ShareThis

Revett Reports Record Q3 Production - "Revett Minerals Inc. (TSX: RVM.TO - News)(AMEX: RVM.TO - News) today announced third quarter 2011 production from its Troy Mine in northwestern Montana of 402,700 ounces of silver and over 3.28 million pounds of copper, a 45% increase in silver and 39% increase in copper over the same period last year and 18% increase in silver and 8% increase in copper from the second quarter of 2011." More
- October 18, 2011 | Item | ShareThis

Allied Nevada Reports Expansion of Main Mineralized Zones at Hasbrouck with Results Including 24 Meters of 2.1 g/t Gold and 9 g/t Silver (2.2 g/t Gold Equiv.) - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX: ANV - News)(AMEX: ANV - News) is pleased to provide highlights from recent drilling at its wholly owned Hasbrouck project, located five miles south of Tonopah, Nevada. Recent assay results indicate extension of the previously discovered higher grade Saddle, Franco and Crossroad zones." More
- October 18, 2011 | Item | ShareThis

Brigus Gold Completes Option of 75% Interest in Its Ixhuatan Gold Project in Mexico - "Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD)(TSX:BRD.to - News) announces that Cangold Limited (“Cangold”) has received regulatory and TSX Venture Exchange approval and has completed its previously announced transaction with Brigus. The terms of the transaction provide Cangold with the option to acquire a 75% interest in Brigus’ Mexican subsidiary (the “transaction”) that owns the Ixhuatan gold project (“Ixhuatan Project”), an advanced exploration stage project located in Chiapas, Mexico." More
- October 18, 2011 | Item | ShareThis

Pebble to challenge borough ordinance in Alaska Superior Court - "By a narrow 280 - 246 (53 - 47%) margin, voters in Southwest Alaska's Lake & Peninsula Borough have supported a ballot measure that, if upheld by the courts, would restrict future development that affects more than one square mile of land within the 31,000 square mile borough. The Pebble Limited Partnership (the "Pebble Partnership" or "PLP") and the State of Alaska view the initiative sponsored by anti-Pebble activists as unconstitutional and unenforceable because it seeks to restrict development of state-owned resources on state lands through a municipal ordinance, and will challenge it in Alaska's Superior Court." More
- October 18, 2011 | Item | ShareThis

Production picks up at Freeport's Indonesian mine - "Production at Freeport-McMoRan Copper & Gold Inc.'s mine in eastern Indonesia was back at 50 percent capacity Tuesday, a government official said, after a sabotaged pipeline that channels concentrates to a port was repaired." More
- October 18, 2011 | Item | ShareThis

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