Silver Headlines

Silver’s Best Quarter Since 2010, up a massive 27.62 percent

Silver had its best quarter since 2010, up a massive 27.62 percent for the three months ended September 30. Gold also had a strong quarter, up 5.89 percent despite a weak September. Holdings in gold-backed ETFs saw an eighth straight quarter of expansion. So far in 2020 they have added around 860 tons.

Kootenay Silver Drills 1.5 m of 773 g/t Ag at Columba

James McDonald, President and CEO of Kootenay stated: “We are excited about the resource and grade potential of these breccias and stockworks because they offer potential for both high grades and large tonnages.

The Sky Is Falling – Gold and Silver Are Following!

JPMorgan Admits Spoofing by 15 Traders, Two Desks in Record $920 million Deal

Over eight years, 15 traders at the biggest U.S. bank caused losses of more than $300 million to other participants in precious metals and Treasury markets, according to court filings on Tuesday. JPMorgan admitted responsibility for the traders’ actions. The Justice Department filed two counts of wire fraud against the bank’s parent company but agreed to defer prosecution related to the charges, under a three-year deal that requires the bank to report its remediation and…

Aztec Receives Initial RC Drill Results from Tombstone Project, Arizona Including 0.94 gpt Gold and 42.1 gpt Silver (1.60 gpt AuEq) over 77.7m

https://goldseek.com/article/aztec-expands-tombstone-property-footprint

Silver Seeker Report #32: This Week in Mining; A Much Needed Healthy Correction

This was a volatile week to say the least but in a bull market this should be expected, especially after the metals essentially went straight up from March through early September. The mining equities sold off far more heavily and are trading with implied gold prices around $1,550-$1,625/oz. (depending on the company). If you learn to embrace these violent pullbacks, your returns could higher. For example, had you taken some profits in August or so, you would have been able to buy back the…

Former Deutsche Bank traders convicted of trying to manipulate gold and silver prices

Prosecutors behind a sweeping US crackdown on market “spoofing” scored a big win on Friday when former Deutsche Bank traders Cedric Chanu and James Vorley were convicted of fraud for manipulating gold and silver prices. A federal jury in Chicago, after three days of deliberations, concluded Mr Chanu and Mr Vorley made bogus trade orders between 2008 and 2013 to illegally influence precious metals prices. The week-long trial was the latest US prosecution of a “spoofing” case since the…

JPMorgan Is Set to Pay $1 Billion in Record Precious Metals Spoofing Penalty (Bloomberg)

JPMorgan Chase & Co. is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter. The potential record for a settlement involving alleged spoofing could be announced as soon as this week, said the people who asked not to be named because the details haven’t yet been finalized. The accord would end probes by the Justice…

Silver projections for the next 10 years

Anyone thinking of trading silver will need strong nerves and a cool head. That said, the rewards of silver trading go beyond the financial. This is a mysterious and mystical metal whose hold over the human imagination rivals that of gold. Think of the “silver bullet” said to kill werewolves or the 30 pieces of silver with which Judas is said to have betrayed Jesus. Back to the gold-silver ratio. This expresses the number of troy ounces of silver that can be bought with one ounce of gold. …

Gold, Silver Join in Commodities Selloff With Dollar Rallying

Bullion declined as much as 3.5% to $1,882.51 an ounce and silver plunged as much as 11%. The Bloomberg Dollar Spot Index headed for its biggest gain since June, making raw materials priced in the greenback more expensive for holders of other currencies. Stocks tumbled amid concerns that economies will be hit by tighter coronavirus restrictions. https://www.bloombergquint.com/markets/gold-tumbles-below-1-900-silver-plunges-with-dollar-rallying