Gold Seeker Closing Report: Gold and Silver Fall Almost 1% and 4%

	Close	Gain/Loss
Gold	$1531.60	-$10.40
Silver	$36.20	-$1.39
XAU	203.22	-0.69%
HUI	538.63	-0.65%
GDM	1571.14	-0.72%
JSE Gold	2557.65	-59.99
USD	74.30	-0.56
Euro	144.94	+1.80
Yen	123.59	UNCH
Oil	$100.40	+$0.11
10-Year	3.030%	+0.064
T-Bond	126.1875	-1.0625
Dow	12248.55	-0.34%
Nasdaq	2773.31	+0.15%
S&P	1312.94	-0.12%

Gold waffled near unchanged in Asia and London before it fell off rather markedly in midmorning New York trade and dropped to as low as $1519.38 by about 11:30AM EST, but it then bounced back higher in the last couple of hours of trade and ended with a loss of just 0.67%. Silver fell to as low as $35.596 before it also bounced back higher in late trade, but it still ended with a loss of 3.7%.

Euro gold fell to about €1057, platinum lost $9.50 to $1810.50, and copper fell a couple of cents to about $4.08.

Gold and silver equities fell over 2% by late morning, but they then rallied back higher in afternoon trade and ended only slightly lower.

Report	For	Reading	Expected	Previous
Initial Claims	5/28	422K	413K	428K
Productivity	Q1	1.8%	1.6%	1.6%
Unit Labor Costs	Q1	0.7%	0.9%	1.0%
Factory Orders	Apr	-1.2%	-1.0%	3.8%

Tomorrow at 8:30AM EST brings May’s jobs data. Nonfarm Payrolls are expected at 169,000, the Unemployment Rate is expected at 9.0%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.3. At 10AM is the ISM Services report for May expected at 53.3.

Oil rose in late trade and ended slightly higher as the U.S. dollar index fell on more poor economic data in the US and word of a “tentative agreement to extend loans to Greece for three years” that sent the euro higher.

Treasuries fell as the Dow, Nasdaq, and S&P shrugged off poor sales reports and weak economic data and ended near unchanged on the day.

Among the big names making news in the market today were Groupon, Moody’s, BofA, Citigroup, Wells Fargo, Goldman Sachs, Microsoft, Gores Group, and Google.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 137.91: +0.3 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,941.33 - No change from yesterday’s data.

Timberline’s (TLR) drill results, Solitario’s (XPL) drill results, Seabridge’s (SA) PEA, Kimber’s (KBX) drill results, and Sabina’s (SBB.V) agreement to sell Hackett River 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.

Newstrike Announces Diamond Drilling Exploration Work on Horseshoe Lake Property - More
- June 02, 2011 | Item | ShareThis

Santa Fe Metals Appoints Thomas Hawkins VP of Exploration - More
- June 02, 2011 | Item | ShareThis

Erdene Announces Updated NI 43-101 Compliant Resource Estimate for the Zuun Mod Molybdenum-Copper Project - More
- June 02, 2011 | Item | ShareThis

North American Nickel Inc. Initiates InfiniTEM Deep-Looking Ground Geophysical Survey on its Post Creek Property, North Range, Sudbury Basin, Ontario - More
- June 02, 2011 | Item | ShareThis

Industrial Minerals Corporate Update - More
- June 02, 2011 | Item | ShareThis

Lago Dourado Intercepts 57.5m of 1.39 g/t and 1m of 101.1g/t Gold at Juruena Project in Brazil - More
- June 02, 2011 | Item | ShareThis

Canasil ZTEM Airborne Survey Outlines Potential Porphyry Target at Sandra-Escobar Silver-Gold Project in Durango State, Mexico - More
- June 02, 2011 | Item | ShareThis

G4G Resources Ltd. Amends Terms on Warrants - More
- June 02, 2011 | Item | ShareThis

Merrex Gold Private Placement - More
- June 02, 2011 | Item | ShareThis

Argentex Drills 13.0 Meters Grading 525.1 g/t Ag Within the Tranquilo Vein System; Exploration Program at Pinguino Project, Argentina Continues to Deliver - More
- June 02, 2011 | Item | ShareThis

Kent Updates Flagstaff Mountain Barite Project - More
- June 02, 2011 | Item | ShareThis

GTA Resources and Mining Inc. Announces Issuance of Shares as Payment for Mining Claims - More
- June 02, 2011 | Item | ShareThis

First American Silver Corp Submits Drill Permitting Application for Mount Jackson Prospect - More
- June 02, 2011 | Item | ShareThis

Benton Exercises Remaining Warrants in Coro Mining Corp. - More
- June 02, 2011 | Item | ShareThis

Sagebrush Gold Adds New Management Team Including Renowned Geologist Arthur Leger as Director of Exploration and Field Operations - More
- June 02, 2011 | Item | ShareThis

St-Georges Platinum Hires New Officers - More
- June 02, 2011 | Item | ShareThis

Wallbridge Mining Announces Closing of Private Placement - More
- June 02, 2011 | Item | ShareThis

Sage Drills 8.08 g/t Over 6.3 Metres-Clavos - More
- June 02, 2011 | Item | ShareThis

Avion Gold Re-Files March 31, 2011 Interim Financial Statements to Reflect Increase In First Quarter Earnings to $12.56 Million - More
- June 02, 2011 | Item | ShareThis

Adventure Gold Starts a 5,000-Metre Drilling Program at The Past Producing L.C. Beliveau Mine East of Val-D'or - More
- June 02, 2011 | Item | ShareThis

Diamonds North Stakes Claims With 11.2 g/T Gold Over 3 Metres - More
- June 02, 2011 | Item | ShareThis

Corazon Reports Positive Drill Results at Santo Domingo, Nicaragua; Mobilizes Second Drilling Rig to Site - More
- June 02, 2011 | Item | ShareThis

Galore Extends Warrants - More
- June 02, 2011 | Item | ShareThis

IBC Advanced Alloys Signs Exclusive Supply Agreement - More
- June 02, 2011 | Item | ShareThis

KGHM Ajax Appoints BNP Paribas as Exclusive Financial Advisor For Ajax Copper-Gold Project - More
- June 02, 2011 | Item | ShareThis

Tyhee Drills 4.0 Metres of 5.11 Grams of Gold Per Tonne at its Wholly-Owned Yellowknife Gold Project, Nwt Canada. - More
- June 02, 2011 | Item | ShareThis

Yellowhead Mining Inc. Announces Voting Results of 2011 Annual and Special Meeting - More
- June 02, 2011 | Item | ShareThis

Entourage Commences Phase 1 Drill Program at Toothpick West in Hemlo Region - More
- June 02, 2011 | Item | ShareThis

AQM Copper Drills 104.3 Metres of 0.35% Cu at Its Sicera Norte Copper Porphyry Discovery Within the Zafranal Project - More
- June 02, 2011 | Item | ShareThis

MBMI Proposes Warrant Extension - More
- June 02, 2011 | Item | ShareThis

Grayd Announces 1.7 g/t Au Over 117.3 Metres at Tarachi Gold Porphyry - More
- June 02, 2011 | Item | ShareThis

Rye Patch Drills Thick Gold Zone at Wilco - More
- June 02, 2011 | Item | ShareThis

Edgewater Announces Non-Brokered Private Placement - More
- June 02, 2011 | Item | ShareThis

Bravada Signs Definitive Agreement for Quito, Completes Core Drilling at East Manhattan, and Plans June Drilling at Wind Mountain - More
- June 02, 2011 | Item | ShareThis

Balaton Increases Land Position at Voisey's Bay West Property - More
- June 02, 2011 | Item | ShareThis

Abitibi Announces Five of Five Drillholes Intersect Mineralization, Extending Zone Strike Length to 300 Metres, Still Open to Depth and Along Strike - More
- June 02, 2011 | Item | ShareThis

Halo Earns 60% Interest From Goldcorp at West Red Lake - More
- June 02, 2011 | Item | ShareThis

Prophecy and Pacific Coast Nickel Commence 8,000 Meter Drilling Program on its PGM-Ni-Cu Wellgreen Project - More
- June 02, 2011 | Item | ShareThis

Quest B-Zone Winter Drilling Intersects 143.2 Metres at 1.16% TREO Including 3.08% TREO Over 13.4 Metres, Strange Lake, Quebec - More
- June 02, 2011 | Item | ShareThis

Seymour Ventures Announces Launch of 2011 Exploration Program on the Mount Bisson and Xeno Rare Earth Properties - More
- June 02, 2011 | Item | ShareThis

Strateco and Majescor Execute Joint Venture Agreement on the Mistassini Property - More
- June 02, 2011 | Item | ShareThis

BonTerra Assays up to 42.6 Grams/Tonne Gold - More
- June 02, 2011 | Item | ShareThis

Gold Standard Ventures Commences Drilling at Railroad Project - More
- June 02, 2011 | Item | ShareThis

Oceanic Iron Ore Corp. Announces Fast-Tracking of Resource Estimate Work and Preliminary Economic Assessment - More
- June 02, 2011 | Item | ShareThis

Fjordland Commences Reconnaissance Induced Polarization Surveys on Tak- Milligan Project, BC - More
- June 02, 2011 | Item | ShareThis

Romios Announces the Commencement of Its Aggressive $6.0 Million Drilling and Exploration Program for 2011 in the Galore Creek Area - More
- June 02, 2011 | Item | ShareThis

Drill Program Resumes at Mayville Property - More
- June 02, 2011 | Item | ShareThis

New Dimension Commences Exploration Programs in the Yukon and NWT - More
- June 02, 2011 | Item | ShareThis

Stroud Intercepts Wide Mineralized Zone at Santo Domingo - More
- June 02, 2011 | Item | ShareThis

Independent Proxy Firms Recommend Capstone Shareholders Vote FOR The Arrangement Involving the Acquisition of Far West Mining and Formation of Strategic Partner - More
- June 02, 2011 | Item | ShareThis

Intrepid Mines Limited: Tujuh Bukit Indonesia NI 43-101 / JORC Compliant Technical Report Filed - More
- June 02, 2011 | Item | ShareThis

Terraco Begins Geophysical Survey at Moonlight Project (Nevada) - More
- June 02, 2011 | Item | ShareThis

Avion Gold Announces First Quarter Earnings of $8.3 Million and Cashflow of $15.4 Million - More
- June 02, 2011 | Item | ShareThis

Largo Secures Land Rights for Mining and Development at Its Maracas Project, Bahia Brazil - More
- June 02, 2011 | Item | ShareThis

American Energy Fields, Inc. Enters Purchase Agreement for Uranium Prospect - More
- June 02, 2011 | Item | ShareThis

TVI Pacific Inc. Completes 22nd Shipment With Increased Copper Concentrate Grade and Provides Zinc Production Update - More
- June 02, 2011 | Item | ShareThis

Firestone Ventures Inc.: Update on AmmLeach(R) Study for Firestone's Torlon Hill Zinc-Lead-Silver Deposit - More
- June 02, 2011 | Item | ShareThis

Pretivm Resources Inc.: Positive PEA for Brucejack Gold Project - More
- June 02, 2011 | Item | ShareThis

Drilling Begins at Miranda's Red Hill Project - More
- June 02, 2011 | Item | ShareThis

Spanish Mountain Gold Reports Results From Current Drill Program: 204.3m Grading 0.46g/t Gold Including 52.8m Grading 0.74g/t Gold - More
- June 02, 2011 | Item | ShareThis

Cream Minerals Appoints New Officers - More
- June 02, 2011 | Item | ShareThis

Timberline Reports Additional High-Grade Gold Intercepts at Butte Highlands - "We continue to see good continuity and gold grades from the underground drill program that support all of our earlier exploration work and the resulting advancement of the Butte Highlands Gold Project. Upon completion of the drill program, all data will be compiled into our mining plan in anticipation of scheduled 2012 production." More
- June 02, 2011 | Item | ShareThis

KIMBER INTERCEPTS 2 METRES OF 12.8 g/t GOLD BELOW CARMEN GOLD-SILVER DEPOSIT, MONTERDE PROJECT - "Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR) is pleased to announce the results of one new drill hole from its ongoing drill program at the Carmen deposit at its Monterde Project in Mexico. This hole was drilled with the objective of expanding and upgrading mineral resources potentially amenable to underground extraction ("Carmen Deep" target). Drill hole MTRD-492 was collared on section 43 and was designed to intersect the Carmen structure at a vertical depth of 390 metres below surface, in an area never previously tested by drilling. This hole intersected high grade mineralization averaging 12.8 g/t gold and 5.7 g/t silver over two metres, including one metre of 24.7 g/t gold and 5.7 g/t silver. This intercept is interpreted to correlate with the downward projection of the Carmen structure." More
- June 02, 2011 | Item | ShareThis

Solitario Reports Significant Drilling Results on Its Mt. Hamilton Gold Project, Nevada - "Solitario Exploration & Royalty Corp. (“Solitario”) (NYSE Amex:XPL) (TSX:SLR.to - News) and Ely Gold & Minerals (“Ely Gold” (TSX.V:ELY) are pleased to announce the remaining results from its core drilling program completed in the first quarter of 2011 on its advanced Mt. Hamilton gold project located at the southern end of the prolific Battle Mountain gold trend, Nevada. Based on these results, additional drilling is planned for mid-2011." More
- June 02, 2011 | Item | ShareThis

Sabina Gold & Silver Announces Agreement With Xstrata Zinc Canada to Sell Hackett River Project and Certain Wishbone Claims - "Definitive agreement signed to sell Hackett River and part of Wishbone for $50 million cash and reservation of a silver production royalty equal to 22.5% of first 190 million ounces of Silver product and 12.5% thereafter." More
- June 02, 2011 | Item | ShareThis

New Preliminary Assessment Completed for Seabridge Gold's Courageous Lake Project - "The 2011 PEA confirms that the FAT deposit at Courageous Lake represents an excellent economic opportunity in the current environment. Capital and operating costs have increased significantly from the 2008 PEA, as expected, but these increases are more than offset by a larger and higher grade resource, extended mine life and higher gold price assumptions, resulting in a substantial improvement in projected economic value for the deposit. Infill drilling, engineering studies and environmental work will continue this summer to raise the PEA to the level of a Preliminary Feasibility Study ("PFS") in early 2012, resulting in the conversion of resources to proven and probable mineral reserves." More
- June 02, 2011 | Item | ShareThis

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