• Gold: 1,189.49 -8.74
  • Silver: 16.26 -0.29
  • Euro: 1.251 -0.000
  • USDX: 88.279 0.638
  • Oil: 72.80 -0.63

Silver Market Morning: Nov-26-2014

15 hours 8 min ago

At the pre-meeting meeting of O.P.E.C. no agreement on cuts in oil production were made. Today, we see oil prices falling further below $78 for Brent and $73 for West Texas. This lays the foundation for the meeting tomorrow. To us it is seen as a direct attack on U.S. oil production rises through ‘fracking’. Russia has said it can tolerate low prices for some time and other producers realize the future consequences of the structural change in the oil market and are fighting it. We, therefore, see oil prices holding these low levels until the battle is won. While such low prices are acting as a mild stimulus for the consumer it is exposing the dollar market to an excess of dollars. Where will these go?

Silver Market Morning

The gold price closed up $30.40 in New York on Friday. It then moved down slightly to $1,172 before London’s opening. It was then Fixed at $1,172 up $27.00 and in the euro at €938.200 up €14.813, while the euro stood stronger at $1.2492. The volumes of net gold traded were three sellers selling 50,000 ounces and one buyer buying 40,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,171.40 and in the euro at €937.91.

November 7: Gold and Silver Rally Back Higher Friday to End Mixed on the Week

Gold fell almost 1% in Asia and held near unchanged in London, but it then climbed steadily higher for most of trade in New York and ended near its last minute high of $1177.33 with a gain of 2.78%. Silver slipped to $15.06 in Asia, but it then climbed to as high as $15.79 in New York and ended with a gain of 1.88%.

Silver and Powerful Forces

For several years it seems that powerful forces have been aligned against gold and silver. What will happen to prices when some or all of those powerful forces reverse and align in favor of precious metals, for their own protection and profit?

Market Report: PMs hit by strong dollar

The dollar continued its upward path against the major currencies this week, and gold and silver prices suffered accordingly.

SILVER SHORTAGE? What Does It Mean?

Mike Maloney clarifies the situation of US Mint Silver Eagle suspension in this must watch report. Hidden Secrets Of Money is a world-leading educational series that is sponsored by, and also based on the priciples of WealthCycles. It shows the evolution of gold and silver as money, and teaches the historical economic mistakes that all societies repeat.

Silver Price Extremes!

To identify “buying opportunities” in “extreme” situations, we identify historical extreme situations and use them for a benchmark. Provided that a correction occurs in an active bull market, the insights from this kind of analysis can be very helpful.

Silver Market Morning

Ahead of New York’s opening, gold was trading at $1,144.90 and in the euro at €923.31. The gold price closed at $1,143.50 up $1.50 on Thursday. It was then taken up overnight to $1,145 and was then Fixed at $1,145.00 up $0.50 and in the euro at €923.387 up €8.446, while the euro stood stronger at $1.2400. The volumes of net gold traded were three sellers selling 48,000 ounces and one buyer buying 40,000 ounces before the pro-rata process kicked in.

November 6: Gold and Silver Gain With Stocks

Gold chopped around between $1142.22 and $1149.44 and ended with a gain of 0.1%. Silver rose to as high as $15.465 and ended with a gain of 1.11%.

First Majestic Silver Corp. - Conference Call Scheduled on November 12, 2014

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce that it will be holding a conference call and webcast on Wednesday, November 12, 2014 at 8 am PT ( 11 am ET ), to discuss the Company's third quarter financial results.

Silver Market Morning

The gold price closed at $1,142.40 down another $25.30 on Wednesday. It was then taken up overnight to $1,143.8 and was then Fixed at $1,144.50 down $0.75 and in the euro at €914.941 down €2.36, while the euro stood stronger at $1.2509. The volumes of net gold traded were two sellers selling 118,000 ounces and two buyers buying 112,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,145.40 and in the euro at €915.00.

November 5: Gold and Silver Fall Over 2% and 4%

Gold dropped almost $30 to $1137.79 just before 7AM EST before it bounced back higher in morning New York trade, but it still ended with a loss of 2.17%. Silver slipped to as low as $15.172 and ended with a loss of 4.68%.

U.S. Mint temporarily sold out of Silver Eagles amid huge demand

The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following "tremendous" demand in the past several weeks.

Silver lining in precious metals' rout catches out coin mints

A tumble in silver prices to four-year lows has triggered a global scramble by consumers to purchase silver coins and bars, as the spread between the price of the metal and gold reaches its widest in five years.

Silver Market Morning

The gold price closed at $1,167.7-0 up 70 cents on Tuesday. It was then taken down overnight to $1,150 and London took it down to $1,145 ahead of the Fix. The euro is slightly weaker this morning at $1.2489. The Fix was set $1,145.25 down $24.00 and in the euro at €917.301 down €16.61, while the euro stood weaker at $1.2485. The volumes of net gold traded were two sellers selling 40,000 ounces and one buyer buying 48,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,145.50 and in the euro at €917.43.

November 4: Gold and Silver End Mixed

Gold dipped $2.10 to $1164.80 in Asia before it jumped up to $1173.28 at about 6AM EST and then chopped back lower, but it still ended with a gain of 0.07%. Silver slipped to as low as $15.928 and ended with a loss of 0.8%.

Silver: What Happens Next?

Disclosure: I expected the triple bottom in gold and silver to hold. It did not! Silver crashed lower (from $19.28 on August 28 to $17.26 on October 29 to under $16 on October 31) and then gold plunged below $1179 to about $1160.

Silver Market Morning

The gold price closed at $1,166.90 down $5.50 on Monday. On Tuesday, Asia and London held it there before it slipped to $1,165. The euro is slightly stronger this morning at $1.2509. The Fix was set $1,169.25 down $1.50 and in the euro at €933.91 down 6.90 up down €2.99, while the euro stood stronger at $1.2520. The volumes of net gold traded were one seller selling 8,000 ounces and one buyer buying 16,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,169.20 and in the euro at €933.94.

November 3: Gold Dips but Miners Gain

Gold dropped down to $1163.51 in Asia before it rebounded to $1173.43 in London, but it then fell back off in New York and ended with a loss of 0.47%. Silver slipped to as low as $15.827 in Asia, but it then rose to as high as $16.232 in New York and ended at unchanged on the day.

German Precious Metal Dealers Report Huge Run on Silver Coins

Precious metal dealers in Germany have literally been run down after the latest slump in gold and silver. Wholesalers already expect deferred deliveries.

Silver Market Morning

The gold price closed at $1,172.4 down $26.30 on Friday. On Monday, Asia and London took down to $1,168 before it recovered to $1,170. The euro is weaker this morning at $1.2493. The Fix was set $1,170.75 down $2.50 and in the euro at €936.90 up 3.447 up €3.453, while the euro stood weaker at $1.2496. The volumes of net gold traded were two sellers selling 44,000 ounces and two buyers buying 62,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,171.40 and in the euro at €937.42.

Ted Butler: The Silver Nightmare Will Be Over Soon

Halloween couldn't have been more terrifying for silver investors. The gray metal cracked under $16/oz on Friday, a price not seen for nearly half a decade. For years now, it has seemed like silver has been beaten down so badly its price couldn't go lower. But then it has.

U.S. MINT SILVER EAGLES: Record Demand On Manipulated Low Paper Price

Investors snatched up a record number of Silver Eagles as the paper price was manipulated to new lows today. This is a very strange market phenomenon, as several “Official” analysts forecasted a drop or sell-off of physical metal if the price continued to decline.

October 31: Gold and Silver Fall About 4% on the Week

Gold dropped $37.02 to $1161.68 by late morning in New York before it edged back higher in afternoon trade, but it still ended with a loss of 2.19%. Silver slipped to as low as $15.805 and ended with a loss of 2%.

Market Report: FOMC hits gold and silver

Trading in precious metals was quiet until Wednesday morning, when prices began to soften. When the FOMC meeting released its policy statement at 2.00pm EST, gold and silver responded by falling heavily, with gold breaching the $1200 level yesterday (Thursday) and silver crashing through $17 to a low of $16.33.

Silver Market Morning

The gold price closed at $1,198.70 down $12.50 on Thursday. Asia and London took down to $1,174. The euro is weaker this morning at $1.2560 on the day. The Fix was set $1,173.25 down $32.50 and in the euro at €933.447 down €24.638, while the euro stood weaker at $1.2569. The volumes of gold traded were two sellers selling 58,000 ounces and one buyer buying 38,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,774.1 and in the euro at €933.64.

May 25: Gold and Silver End Slightly Lower on the Week

Gold saw slight losses in Asia, but it then chopped its way back higher in London and New York and ended with a gain of 0.85%. Silver surged to as high as $28.593 and ended with a gain of 0.67%.

COMEX Silver Inventory Update: +528,970.137 ounces

COMEX Silver Inventory Update: +528,970.137 ounces

May US Mint Silver Eagle Sales: 2.875 million ounces, +1.355M vs April

May US Mint Silver Eagle Sales: 2.875 million ounces, +1.355M vs April

June 19: Gold and Silver End Slightly Lower

Gold rose $5.90 to $1633.30 in Asia before it fell back to $1617.40 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.48%. Silver climbed to $28.938 before it slipped back to $28.33, but it then also rallied back higher late trade and ended with a loss of just 1.08%.

COMEX Silver Inventory Update: -2,026 ounces | Total: 145,937,907

COMEX Silver Inventory Update: -2,026 ounces | Total: 145,937,907

Silver moves higher on overnight meetings in Brussels: European leaders agree to use bailout fund to recapitalize struggling banks

BRUSSELS — European leaders have agreed to use the continent’s permanent bailout fund to recapitalize struggling banks, and agreed to the idea of a tighter union in the long term.

Silver Market Morning

Gold closed in New York at $1,598.70, up $20. Asia took it up to $1,606 ahead of London’s opening, while the euro stood at €1: $1.2602. The gold Fix was set at $1,608.50 and in the euro €1,278.312. Ahead of New York’s opening, gold stood at $1,609.65 and in the euro, €1,279.23 while the euro was at €1: $1.2583.

Santacruz Announces NI 43-101 Resource at San Felipe

Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (TSX.V:SCZ) is pleased to announce an update regarding its activities in Mexico at the San Felipe project, including an initial independent National Instrument 43-101 ("NI 43-101") Mineral Resource estimate. The Mineral Resource estimate was completed by Kelsey Zabrusky under the supervision of Zachery Black SME-RM and Donald E. Hulse PE and SME-RM, of Gustavson Associates, LLC, (Gustavson) both of whom are independent "qualified persons" under NI 43-101.

COMEX Silver Inventory Update: -775,376.83 ounces

COMEX Silver Inventory Update: -775,376.83 ounces

COMEX Silver Inventory Update: -1,329,524.330 ounces

COMEX Silver Inventory Update: -1,329,524.330 ounces

Hecla makes hostile takeover bid for U.S. Silver Corp

Hecla Mining Co made an all-cash hostile bid to buy U.S. Silver Corp for C$110.7 million, a month after the Canadian company agreed to be bought by RX Gold & Silver Inc.

COMEX Silver Inventory Update: -2,298,651.267 ounces

COMEX Silver Inventory Update: -2,298,651.267 ounces

GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit!

Welcome to Capital Account. JP Morgan said in a court filing that PFG's subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks.

COMEX Silver Inventory Update: +555,536.41 ounces

COMEX Silver Inventory Update: +555,536.41 ounces

September 4: Gold and Silver Gain With Dollar

Gold fell a few dollars from last Friday’s close to $1688.31 by a little after 9:30AM EST before it jumped back to $1698.76 in the next half hour of trade and then drifted back lower midday, but it then rallied back higher in late trade and ended with a gain of 0.21%. Silver climbed to $32.27 in Asia before it slipped to $31.90 in London, but it then climbed to as high as $32.40 in New York and ended with a gain of 1.84%.

Fed launches big stimulus, to buy bonds until jobs rebound

The Federal Reserve launched another aggressive stimulus program on Thursday, saying it will buy $40 billion of mortgage debt per month and continue to purchase assets until the outlook for jobs improves substantially.

Some initial reactions from the FOMC meeting

The FOMC-Bernanke’s words were very bullish for gold and silver investors. We have believed that money printing, aka QE 3 and beyond, will continue to support the drivers in gold and silver buying. The announcement is extremely bullish also with those who had questioned the chosen path now begin to realize they need to get back into gold.

Site Visit: Santacruz Silver’s Rosario Mine Construction Project

Recently I visited Santacruz Silver Mining Ltd.’s (TSX-V.SCZ) Rosario Mine development project in the State of San Luis Potosi, Mexico, which is bustling with construction activity. Santacruz is a new company that just went public on the TSX-Venture exchange in April, 2012 with a $20 million financing and portfolio of three past producing properties. Since this company is led by experienced management with a history of making discoveries and building new mines they are well poised for outstanding growth over the coming months and years.

September 18: Gold and Silver Gain About 1% and 2%

Gold dropped down to $1752.61 in Asia before it climbed up to $1773.00 by a little after 10AM EST and then pared its gains a bit in midday action, but it then bumped back higher in late trade and ended with a gain of 0.74%. Silver surged to as high as $35.015 before it also fell back off, but it still ended with a gain of 2.23%.

September 20: Gold and Silver End Mixed

Gold fell $14.70 to $1755.80 at about 6:20AM EST, but it then rose to as high as $1770.42 in New York and ended with a loss of just 0.12%. Silver slipped to as low as $34.084 in London, but it also rallied back higher in New York and ended near its midday high of $34.692 with a gain of 0.03%.

COMEX Silver Inventory Update: -889,120.372 ounces

COMEX Silver Inventory Update: -889,120.372 ounces

September 21: Gold and Silver End Near Unchanged on the Week

Gold climbed to $1787.25 by a little after 9AM EST before it fell back to almost unchanged at $1769.35 by a little after 11AM EST, but it then bounced back higher midday and ended with a gain of 0.27%. Silver surged to as high as $35.16 in early New York trade before it fell back to $34.318 and then also bounced back higher, but it still ended with a loss of 0.29%.

Kiva Team SilverSeek.com Breaks $30,000 in Loans!

Over the past week, the GoldSeek-SilverSeek micro-lending team’s total loan amount surpassed the $30,000 mark. Over 1,175 loans to groups and individuals all around the world have been impacted by our lending efforts. Our 2012 lending goal of $15,000 has been achieved, now standing at $17,550 in loans for 2012, and we now have increased our challenge for our team to reach our new 2012 goal of $25,000. Please consider taking some of your money out of your nearly 0% APR return “savings” account and put it to good work and become a micro-lender.

October 4: Gold and Silver Gain With Stocks and Oil

Gold climbed $16.56 to $1795.06 just before 2PM EST before it pared its gains a bit after the fed released Minutes from their September 12th meeting, but it still ended with a gain of 0.69%. Silver rose to $35.092 in early New York trade before it fell back to $34.655 in the next 15 minutes of trade, but it then rallied back higher for most of the rest of trade and ended with a gain of 1.16%.

COMEX Silver Inventory Update: -379,504.528 ounces

COMEX Silver Inventory Update: -379,504.528 ounces

The “Summer Games” Go On

And the “summer games” go on, with TPTB “locking down” Precious Metals with daily caps at the same times, while the “DOW JONES PROPAGANDA AVERAGE” surges at the NYSE open and is NEVER allowed to fall.

Fractal Analysis: 2012 Silver to $70++

Around this...

Why Is The Future Silver Supply More at Risk than Gold?

The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system. Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome. However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner.

The Silver Reverse Bubble of 2012

In late 2008, when silver was massacred in the futures pit and saw its price fall from over $20 to under $10, I told my readers at that time that silver entered into a “reverse bubble”. I know it sounds odd, but let me re-visit the concept.

Silver: Supply and Demand Part 2, Investment Demand

This educational video looks at how and why people invest in silver. While economic, socio-political and psychological forces play a large part in determining the price of silver, it all comes back to the basic principles of supply and demand.

Great Panther Silver Reports Improved Fourth Quarter Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/17/12)- GREAT PANTHER SILVER LIMITED (TSX: GPR.TO)(AMEX: GPL) (the "...

JP Morgan Silver Manipulation

...

Silver Chart and Comments

Silver continues to be the poor poster child for the Deflation or Risk Aversion Trade. It's chart is abysmal at this point as it has steadily retreated since peaking near $50 in what seems a lifetime ago. About the only positive thing that can be said about it is that is had not been below the $26 level for some time now. That level still seems to be bringing in buyers.

Silver Grumps

Attention, Class: Silver and gold are static assets. They are constants. They don't actually move much. What happens is that the metrics by which we measure Silver and Gold jump around like horny ticks on a hot dog. It is the fraud of the 20th and 21st Centuries.

South American Silver Responds Strongly To Bolivian Government Statements

South American Silver Corp. (SAC.TO)(SOHAF) today expressed extreme disappointment in statements made this evening by the Bolivian government that it intends to nationalize the company's development stage Malku Khota silver-indium-gallium project.

Bolivia to consider nationalizing embattled silver project

Bolivia will consider nationalizing Canadian miner South American Silver Corp's silver property, President Evo Morales said on Sunday, following violent indigenous protests against the mining project. Leftist Morales, who last month took control of global commodities giant Glencore's tin and zinc mine in the Andean country, said he hadn't taken a final decision on whether to revoke the Canadian miner's concession.

August 3: Gold and Silver End Mixed on the Week

Gold climbed $11.03 to $1599.73 by a little after 8AM EST before it dropped back to $1586.90 immediately after the jobs report was released, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.89%. Silver slumped down to $27.066 in early New York trade, but it then surged to as high as $27.883 and ended with a gain of 2.4%.

Silver is for Champions

The thoughts of millions of ice hockey fans turned to silver this week – more specifically, to the nearly 35 pounds of silver in the National Hockey League’s Stanley Cup, the century-old championship symbol of professional hockey. The Los Angeles Kings ultimately lifted high the iconic trophy made of sterling silver.

Is the Silver’s Move Above Its 50-day Moving Average a Bona Fide Buy Signal?

Summing up, there are virtually no positive signs for the white metal in this week’s chart except for the move above the 50-day moving average. This move was not accompanied by analogous breakouts in gold nor mining stocks, so we don’t view it as overly important. The silver-to-gold ratio indicates further weakness ahead.

Maintain The Status Quo

The name of the game is the “maintain the status quo” – first until the Europeans return from August vacations, and second in front of the U.S. elections. Today’s “retail sales” fiasco – following perhaps 20 HORRIBLE, GLOBAL economic reports, was no different than last month’s NFP Employment Report, when unprecedented “seasonal adjustments” turned what should have been a BIG decline into a big increase.

David Morgan: Silver in the next Decade

David Morgan will...

Bill Murphy Comments On Today's Market Action

It's go into the bunker time as markets are in sell everything mode. It is a sad day when King Dollar reigns. Our politicians can't even deal with cutting the rate of our debt increases, much less really address our mounting fiscal problems.

Charts: Silver Price, Silver Stocks Reverse from Lows

The silver price has made a strong reversal from big technical supports around $27. Silver stocks have also moved off their early morning lows, crossing into positive terriroty mid-day and gaining steadily into the close:

Silver Market Update

Silver investors and speculators are amongst the manic-depressive you can possibly find in the investment world. When they are playing maximum credits on the slots and passing round boxes of cuban cigars and taking out massive loans to buy Ferraris and Lambos you know it's time to watch out. When they retreat into the shadows, only coming out to hurl themselves off bridges and other tall structures, mumbling about the "cartel" as they plummet earthwards, you know it's getting time to buy - and that is the situation we now find ourselves in. In this update we are going to examine evidence which suggests that, despite the fragile looking price pattern, silver is going to turn surprisingly strong in short order, or alternatively, if it does break down, it turns out to be a false move that is swiftly followed by a dramatic recovery.

July 25: Gold and Silver Gain Over 1%

Gold climbed steadily higher throughout most of trade in London and New York and ended near its late session high of $1610.10 with a gain of 1.4%. Silver surged to as high as $27.559 and ended with a gain of 1.3%.

Sprott mum after Hecla offers cash for U.S. Silver in hostile bid

The head of Sprott Asset Management, Eric Sprott, was keeping his cards close to his chest after Hecla Mining made a hostile C$111-million cash offer to buy U.S. Silver that would derail a Sprott-backed plan to merge U.S. Silver with RX Gold & Silver.

Silver demand to rise 3-5 pct in 2012: GFMS head

Silver sales for industrial applications as well as for jewelry, coins, silverware and photography should climb 3 to 5 percent this year as end-...

COMEX Silver Inventory Update: -996,615.750 ounces

COMEX Silver Inventory Update: -996,615.750 ounces

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