• Gold: 1,306.86 14.45
  • Silver: 20.71 0.35
  • Euro: 1.343 -0.003
  • USDX: 81.033 0.18
  • Oil: 101.95 0.01

The ‘Great Reassessment’ to come?

27 min 55 sec ago

To the Rush Limbaugh’s, Mark Levin’s and Sean Hannity’s of the world, Ron Paul was an insane “isolationist” “kook” who might as well have been pulling for the “enemy” when he, almost alone, argued passionately against America’s involvement in the wars in Iraq and Afghanistan. Rush Limbaugh, Sean Hannity and Mark Levin were of course arguing passionately for these wars.

July 15: Gold and Silver Fall About 1% More

Gold climbed $6.97 to $1313.67 by a little after 5AM EST before it plunged down to $1292.203 shortly after 11AM EST and then bounced back higher at times, but it still ended with a loss of 0.96%. Silver edged up to $21.051 before it fell to $20.719 and then also rallied back higher, but it still ended with a loss of 1.00%.

Silver, Gold and Living by the Sword

It is said that, “If you live by the sword, you die by the sword.” Let’s expand the concept and confirm that ancient bit of wisdom. If you depend upon your sword for self-defense and aggression, you can reasonably expect that someday you will meet another swordsman who will slice your body and kill you.

Wow, what a shock! for Whirlybird Janet

Wow, what a shock! Gold and silver attacked on the year's thinnest trading day, one day ahead of the historic "key attack event" of Whirlybird Janet's semi-annual Congressional economic testimony.

Silver Market Morning

The gold price closed at $1,306.70 down $31 on Monday in New York. In Asia and early London, prices began to recover rising to $1,310 ahead of London’s opening. The gold price was Fixed at $1,312.00 down $9.60 and in the euro at €965.203 down €4.664, while the euro was weaker at $1.3593. Ahead of New York’s opening, gold was trading at $1,311.60 and in the euro at €964.80.

Brazen

Brazen. This is the first word that came to mind when I checked today’s silver prices on Silverseek.com, Synonyms for “brazen” include “bold” or “fearless.” To me the word connotes an attitude that one is going to do what one wants and doesn’t care what anyone else thinks. There’s an arrogance, a cockiness or perhaps even an air of desperation I associate with brazen acts and those who commit them.

July 14: Gold and Silver Fall Over 2%

Gold dropped $34.39 to $1303.31 at about 9:30AM EST before it stabilized, but it still ended with a loss of 2.32%. Silver slipped to as low as $20.849 and ended with a loss of 2.38%.

New Record of 3.86 million Silver Eqv. Ounces Produced in Q2; Announces Spin-out of Non-Core Exploration Properties

First Majestic Silver Corp. ("First Majestic" or the "Company") is pleased to announce that total production at its five operating silver mines in Mexico for the second quarter ending June 30, 2014 reached a new quarterly record of 3,855,224 equivalent ounces of silver, representing an 18% increase compared to the same quarter in 2013.

Fortuna Intercepts 854 g/t Ag and 5.0 g/t Au Over 3.3 m in Trinidad North Step-Out Drilling at the San Jose Mine, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 14, 2014) - Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI) (FRANKFURT:F4S.F) is pleased to announce results for additional step-out drilling of the Trinidad North discovery located contiguous with the San Jose Mine in Oaxaca, Mexico. Results are included for eleven drill holes completed from April through June of 2014, confirming that the high-grade silver-gold mineralization remains open along strike to the north and to depth.

Silver Market Morning

The gold price closed at $1,337.70 up $1.90 on Friday in New York. In Asia and early London, prices mysteriously plummeted to $1,321.00.The gold price was Fixed at $1,321.25 down $15.25 and in the euro at €969.867 down €11.915, while the euro was at $1.3623. Ahead of New York’s opening, gold was trading at $1,321.60 and in the euro at €969.95.

COMEX Silver Traders in Commitments of Traders (COT) Mexican Standoff, Short Squeeze Remains Likely

We believe there are two classes of large traders dominating the battle underway for price discovery in the COMEX futures market for silver bullion. We point to the mercenary Swap Dealers on one side of the battlefield – figuratively dug in and short selling futures in obscene numbers as we have been documenting in these GGR pages.

July 11: Gold and Silver Gain Over 1% on the Week

Gold edged up to $1339.08 at about 8:20AM EST before it chopped back down to $1334.03 in the next 70 minutes of trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.14%. Silver slipped back to $21.364 before it also rallied back higher in late trade and ended with a gain of 0.23%.

Market Report: The ghost of bail-ins past returns the financial stage

Gold and silver had a good week after the US holiday last Friday. From a low of $1312 on Tuesday, gold rose to a high point of $1345 yesterday, and silver from $20.84 to $21.60. Open interest is climbing too for both metals, as shown in the following charts.

Silver Up 10.3% YTD - Outperformance To Continue

Gold and silver saw gains yesterday on concerns about instability in the Middle East and the risk of contagion coming from Espirito Santo, the large Portuguese bank. A possible default has sent government bonds of Europe’s most indebted nations and bank and other stocks tumbling, showing how fragile confidence in the Eurozone banking system and sovereign debt markets is.

Silver Market Morning

The gold price closed at $1,335.80 up $8.10 on Thursday in New York. In Asia, prices rose to $1,337.00 ahead of the London’ opening. London held the price around that level then Fixed at $1,336.50 down $6.75 and in the euro at €981.782 down €3.439, while the euro was weaker at $1.3613. Ahead of New York’s opening, gold was trading at $1,336.80 and in the euro at €982.55.

Asset Boom & Inflation Ahead?

The “price” of anything is a measurement of something just as a “mile” is a measurement of something. A mile measures distance, a “gallon” measures volume and a “pound” measures weight. But because the actual “value” of a currency can fluctuate, the “price” of the food in the grocery store to the “price” of a share of a stock exchange can move up and down without a change in value of the item itself.

July 10: Gold and Silver Gain While Stocks Drop

Gold jumped $17.02 to $1344.72 by a little after 5:30AM EST before it drifted back lower for most of the rest of trade, but it still ended with a gain of 0.61%. Silver surged to as high as $21.575 and ended with a gain of 1.28%.

Swap Dealers ‘Goal Line Stand’ for COMEX Silver Futures in Jeopardy, Squeeze Very Possible Now

A sure-enough short squeeze might be developing in the volatile silver market. We attempt to identify who, or rather which class of futures trader, might be squeezed in this brief offering.

Fortuna Reports Production of 1.6 Million Ounces of Silver and 8,519 Ounces of Gold for the Second Quarter 2014

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 10, 2014) - Fortuna Silver Mines Inc. (FVI.TO)(FSM)(F4S.F)(FVI) is pleased to announce second quarter production figures from its two 100 percent owned operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver, 8,519 ounces of gold and significant base metal by-products. Silver and gold productions for the first six months of the year totaled 3.2 million and 16,669 ounces respectively; reflecting 53 and 52 percent of the company's annual guidance (see Fortuna news release dated January 13, 2014). Fortuna is on schedule to produce 6 million ounces of silver and 32,300 ounces of gold or 7.9 million ounces of Ag Eq* in 2014.

Silver Market Morning

The gold price closed at $1,327.70 up $8.00 on Wednesday in New York. In Asia, prices rose to $1,329.00 ahead of the London’ opening. London took the gold price up to $1,343.25 at the Fix up $20.75 and in the euro at €985.221 up €13.509, while the euro was stronger at $1.3634. Ahead of New York’s opening, gold was trading at $1,342.70 and in the euro at €986.19.

July 9: Gold and Silver Gain Before and After Fed Minutes

Gold climbed $7.35 to $1327.05 at about 8AM EST before it fell back to $1321.47 in the next four and a half hours of trade, but it then jumped to as high as $1331.80 after the release of today’s fed minutes and ended with a gain of 0.61%. Silver surged to as high as $21.221 and ended with a gain of 0.33%.

As silver fix decision nears, LME ties up with Autilla

The London Metal Exchange and technology firm Autilla joined forces on Wednesday to propose an electronic system for setting the global silver price benchmark as the deadline neared for replacing London's century-old silver fix.

There is NO RECOVERY!

Today's list of "horrible headlines" has never been longer - and this, during the so-called "summer doldrums." Middle Eastern violence, plunging economic growth, the default of the largest Portuguese bank, the BOJ preparing to monetize Japanese stocks, and plunging U.S. Treasury yields despite the so-called, eternally propagandized "recovery." Heck, Wal-Mart's CEO said so yesterday, there is NO RECOVERY!

Silver Market Morning

The gold price closed at $1,319.70 10 cents higher than Tuesday in New York. In Asia, prices rose to $1,323.00 ahead of the London’ opening. London held the gold price around that level then the Fix was set at $1,322.50 up $4.25 and in the euro at €971.712 up €2.482, while the euro was slightly stronger at $1.3610. Ahead of New York’s opening, gold was trading at $1,323.80 and in the euro at €972.56.

July 8: Gold and Silver End Slightly Higher

Gold waffled between $1320.05 and $1316.48 in Asia and saw slight gains in London before it climbed to as high as $1324.79 in midmorning New York trade and then fell to as low as $1314.01 by midday, but it then bounced back higher in afternoon trade and ended with a gain of 0.01%. Silver rose to as high as $21.193 and ended with a gain of 0.1%.

July 7: Gold and Silver End Near Unchanged

Gold dropped $7.27 to $1312.33 at about 10AM EST, but it then rallied back higher for most of the rest of trade and ended unchanged on the day. Silver slipped to as low as $20.844 and ended with a loss of 0.52%.

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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