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The Dow Jones Industrial Average ended the week above the 13,000 level following mixed economic news from the U.S. and Europe. The Dow gained 20 points to close at 13,096.17.  

The U.S. Labour Department said that employers added 163,000 jobs in July, above the expected 100,000. However, the jobless rate in July increased to 8.3% from 8.2% in June, which kept hopes alive that the Federal Reserve could provide more stimulus.

Meanwhile, European Central Bank (ECB) president Mario Draghi said eurozone governments should consider asking Europe’s rescue fund to buy their debt before it intervenes. Because of the lack of immediate action the borrowing costs for Spain and Italy rose, and investors expect the ECB to step in to contain the euro debt crisis.

The S&P 500 Index edged up 5 points to close at 1,390.99, and the Nasdaq Composite Index climbed 9.8 points to 2,967.90. The Philadelphia Gold and Silver Index slipped 1.5 points to 150.33, and the spot price for gold dropped US$20 per oz. to US$1,603.60.

Entree Gold was up 13% to US72¢ after announcing assays from three more holes from the Ann Mason deposit in Nevada that have extended the project 100 metres west. One of the holes returned 760 metres of 0.29% copper, or 0.32% copper equivalent, including 272 metres of 0.38% copper, or 0.40% copper equivalent. The company says the assays were not part of the March 2012 resource estimate, but will be incorporated into a preliminary economic assessment expected by year-end.

Ur-Energy climbed 13% to US89¢ on no news. The uranium junior had most recently reported its second-quarter results on July 27, which included a net loss of $2.5 million, or 2¢ a share, compared to a net loss of $4.5 million, or 5¢ a share, a year ago.

On the negative side, Cream Minerals fell 44% to US6¢ after updating the resource estimate at its Nuevo Milenio silver-gold project in Mexico. The estimate shows the project contains 48,435 oz. gold and 7.2 million oz. silver, from 2.8 million tonnes grading 0.53 gram gold and 79.79 grams silver in measured and indicated. It has another 42,783 oz. gold and 5.7 million oz. silver from 3.5 million tonnes grading 0.26 gram gold and 53.25 grams silver in inferred.

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