SilverSeek.com 2013 Virtual Silver Investment Conference: THURSDAY - JANUARY 31

This theory is bolstered by the fact that the 10% losses were due to a handful of a very large trades in a low volume session in Asia, while silver’s subsequent 12% reversal to the upside came amid extremely high trading volume with silver trading volume 82% higher than the 100 day moving average on the COMEX. Silver's fall could have been related to the gyrating yen dollar price as some hedge funds and banks use proprietary trading systems and sharp losses in a leveraged yen dollar position could have led to forced liquidation of silver. However, the scale of the 10% loss in the silver market, and only the silver market suffered such large losses, would suggest that it was not simply due to margin selling on yen speculation losses.

Silver saw some aggressive liquidation action overnight, with the July contract falling down to its lowest level since September of 2010! In addition to knock-on selling from gold, silver was reportedly under pressure from technically inspired selling as the market approached and failed to hold the April spike low. Another element that might be undermining silver is ongoing interest in equities, which in turn might have been behind the decline in silver derivative holdings at the end of last week. One silver derivative instrument on Friday saw its holdings fall down to its lowest level since January 15th. The Commitments of Traders Futures and Options report as of May 14th showed Non-Commercial traders were net long 8,693 contracts, a decrease of 3,829. Commercial traders were net short 11,436 contracts, a decrease of 2,063. Non-reportable traders were net long 2,743 contracts, an increase of 1,765 contracts. Non-Commercial and Non-reportable traders combined held a net long position of 11,436 contracts, a decrease of 2,064 contracts. With July silver from the COT position mark off date down another $3.12 an ounce to this morning's low, the COT long positioning readings are probably overstated. However, silver in modern trading has only seen two instances where the Non-reportable and Non-commercial net long positioning has fallen below 10,000 contracts, and that was in mid 1997 and again in 2001! Comex Silver Stocks were 164.020 million ounces down 855,953 ounces. Silver stocks have declined in 14 of the last 20 days.

Silver got slammed last night when futures markets re-opened to begin the week. At its lowest level, the precious metal had fallen nearly 9% to $20.25 an ounce. Remarkably, it's already staged a big comeback, and it just turned positive on the day. In the past few minutes, it's screamed higher, and is now trading around $23.00, up 2.7%.

The price of Silver fell to nearly $20 as huge seller(s) hit thinly traded market. After opening at US$22.34, in a very thinly bid market a huge amount of selling hit the silver price taking it to nearly $20 an ounce, hitting a low of $20.04 in minutes before seeing buyers return the price back above $21 at the time of publishing.

The Silver Squeeze – An infographic.

Silver(very short-term) The silver price will continue to consolidate, in New York today.

Basically that the trading structure in the silver futures market gives rise to price discovery, and that this mechanism has long been divorced from the real fundamentals for physical silver. Instead, it is almost entirely driven by the vested interests of the for-profit exchanges and their largest clients.

COMEX Silver Inventory Update: -638,463.100 ounces

FOUR economic reports, and FOUR MASSIVE misses; validating essentially ALL the past month's MISERABLE data.

Huldra Silver Inc. ("Huldra" or the "Company") (TSX VENTURE:HDA) is pleased to provide an update of the current underground drilling program and mining progress at the Treasure Mountain Mine, British Columbia, Canada.

The gold price tumbled again in Asia after New York selling pushed the gold price down to $1,392.70 down $33 from New York ahead of London’s opening today. In London it Fixed at $1,377.00 down $45.25 on yesterday and in the euro at €1,070.01 down €24.5, while the euro was much weaker at €1: $1.2869. Ahead of New York’s opening it stood at $1,376.20 and in the euro at €1,068.93.