• Gold: 1,130.94 6.63
  • Silver: 14.51 0.06
  • Euro: 1.126 0.002
  • USDX: N/A N/A
  • Oil: N/A N/A

August 27: Gold Edges Higher and Silver Rises Almost 2%

7 hours 55 min ago

Gold gained $5.08 to $1129.18 in London before it fell back to $1118.38 at about 10AM EST and then bounced back to $1127.65 in the next 90 minutes of trade, but it then drifted back lower in afternoon trade and ended with a gain of just 0.02%. Silver rose almost 1% to $14.315 before it dropped back to $14.163, but it then shot up to as high as $14.613 and ended with a gain of 1.9%.

Desolation Row: the Silver Market

Silver peaked in 1980 and then crashed into “Silver Desolation Row” in 1999 – 2001, like now. The 1970s decade was the time for commodity price increases and inflation. The 1980s and 1990s saw a preference for paper assets and stocks, while commodities, gold, and silver prices collapsed.

Silver Market Morning

On Tuesday New York closed at $1,123.80 up $15.10. The dollar was slightly stronger at $1.1111 up from $1.1144 with the dollar Index unchanged at 96.58. This morning the LBMA gold price was set at $1,117.35 up $03.55. The euro equivalent was €1,003.23 up €2.40. Ahead of New York’s opening, gold was trading in a very narrow 30 point spread around $1,117.75 and in the euro at €1,005.00.

SilverCrest Announces Q2, 2015 Financial Results; Operating Cash Flow of $8.1 million ($0.07/share), Earnings of $3.86 million ($0.03/share), Guidance for Cash Cost/AgEq Ounce Reduced

"The second quarter was another successful quarter for SilverCrest. Santa Elena's record Q2 AgEq (3) production delivered strong financial results despite the lower precious metals price environment. We generated cash flow from operations (1) (2) of $8.1 million ( $0.07 per share) and net earnings of $3.86 million ( $0.03 per share). We maintained a strong balance sheet at June 30, 2015 with $36.4 million in cash and cash equivalents and working capital of $51.0 million."

August 12: Gold and Silver Gain Over 1%

Gold climbed $16.70 to $1125.40 by late morning in New York and ended with a gain of 1.36%. Silver rose to as high as $15.592 and ended with a gain of 1.17%.

Fortuna Provides Exploration Update for the San Jose Mine, Mexico

Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to provide a Brownfields exploration update for the San Jose Mine in Oaxaca, Mexico including results for step-out drilling of the Trinidad North zone and for surface sampling of the La Noria and San Antonio vein systems located approximately 2 kilometers to the west of the Trinidad vein system.

Silver Market Morning

On Tuesday New York closed at $1,108.70 up $5.40. The dollar was weaker at $1.1144 down from $1.0978 with the dollar Index also weaker at 96.58 down from 97.46. This morning the LBMA gold price was set at $1,116.80 up $3.55. The euro equivalent was €1,003.23 down €6.29. Ahead of New York’s opening, gold was trading in London $1,117.10 and in the euro at €1,003.28.

August 11: Gold and Silver Gain While Stocks and Oil Drop

Gold dipped $9.31 to $1093.99 in early Asian trade before it jumped up to $1119.18 by a little before 4AM EST and then drifted back lower in London, but it then edged back higher in New York and ended with a gain of 0.49%. Silver rose to as high as $15.409 and ended with a gain of 0.66%.

The EPA's Polluted River

The U.S. Environmental Protection Agency's massive spill of arsenic-laden contaminants into Colorado's Animas River (literally, from the Spanish, River of Souls) a week ago has all the makings of a slow-speed softball pitched at this relentless critic of EPA's hubris, bullying and unscientific bullshite.

U.S. and Canadian Mint Dysfunction Snowballs as Silver Coin Premiums Rise

Lower precious metals prices on Wall Street aren't necessarily bringing lower prices on Main Street. The retail market for gold and silver coins, bars, and rounds has been swamped with high demand since mid June. Both the U.S. Mint and the Royal Canadian Mint continue to run into serious issues keeping up with retail silver coin demand.

Silver and Gold: The Triumph of Experience over Hope

Rather than discuss the triumph of experience over hope regarding hard money, honest politicians, and free market economics, let’s look at the OPPOSITE.

Silver Market Morning

On Monday New York closed at $1,103.30 up $11.20. The dollar was unchanged at $1.0978 with the dollar Index weaker at 97.46 down from 97.85. The dollar continued to weaken during London’s morning. This morning the LBMA gold price was set at $1,113.25 up $18.45. The euro equivalent was €1,009.52 up €8.51. Ahead of New York’s opening, gold was trading in London $1,114.00 and in the euro at €1,010.48.

August 10: Gold and Silver Gain Over 1% And 3%

Gold gained $6.21 to $1098.31 in Asia before it drifted back towards unchanged in London, but it then shot up to as high as $1108.74 in New York and ended with a gain of 1.03%. Silver surged to as high as $15.391 and ended with a gain of 3.18%.

Silver Market Morning

On Friday New York closed at $1,092.10 up $2.80. The dollar is down more than half a cent at $1,0976, with the dollar Index weaker initially before rising to 97.85 down from 97.90. This morning the LBMA gold price was set at $1,094.80 up $3.45. The euro equivalent was €1,001.01 up €3.25. Ahead of New York’s opening, gold was trading in London above $1,094.30 and in the euro at €1,000.50.

Fortuna Reports Consolidated Financial Results for the Second Quarter 2015

"We continue to focus on cost control, productivity and margins. Mine plan flexibility at Caylloma and strong performance at San Jose continue to sustain our operating and financial results in spite of a challenging metal price environment." Mr. Ganoza continued, "Key capital projects remain on schedule as we look forward to the commissioning of the San Jose Mine expansion from 2,000 to 3,000 tpd in mid-2016."

August 7: Gold and Silver End Mixed on the Week

Gold gained $7.05 to $1096.35 in Asia before it dropped down to $1083.59 just after this morning’s jobs report was released, but it then rose to a new session high of $1099.52 in the next two and a half hours of trade and ended with a gain of 0.26%. Silver rose to as high as $15.022 and ended with a gain of 0.82%.

The Next Silver Bull May Have Already Started

Silver is down 7.1% this year. Will this weakness persist? To find out, let’s look at the key factors in the silver market this year. Like gold, silver fell as the US dollar rose on the back of expectations that the Fed will hike rates. World demand for physical silver fell 4% in 2014, largely due to a record 19.5% drop in investment demand. Silver exchange-traded funds (ETFs) did not see big liquidations in 2014. ETF holdings grew by 1.4 million ounces and recorded their highest year-end level at 636 million ounces.

Gold, Golf, & Silver ... are Similar

As I write this, gold prices on the COMEX have sold off $10 and some “gold bugs” are worried and scared. This is normal. Trust central banks and governments to force gold prices far higher. Also, thousands of (right handed) golfers are currently slicing right on dog-leg left fairways. Golfers will find their balls, recover, and play again tomorrow. Gold prices will rally “tomorrow,” the sun will rise, governments will spend too much, and golfers will strive for the perfect swing.

Silver Market Morning

On Thursday New York closed at $1,089.30 up $4.30. The dollar is barely changed at $1.0911, with the dollar Index the same at 97.90. This morning the LBMA gold price was set at $1,091.35 up $6.35. The euro equivalent was €997.76 up €2.44. Ahead of New York’s opening, gold was trading in London above $1,091.20 and in the euro at €997.62.

August 6: Gold and Silver Gain Before Jobs Day

Gold waffled between $1087.22 and $1084.24 in Asia and held near unchanged for most of trade in London, but it then rose to as high as $1093.89 by early afternoon in New York and ended with a gain of 0.4%. Silver rose to as high as $14.775 and ended with a gain of 0.34%.

Silver Market Morning

On Wednesday New York closed at $1,085.00 down $3.20. The dollar is slightly weaker at $1.0901 down from $1.0860, with the dollar Index weaker at 97.90 down from 98.12. This morning the LBMA gold price was set at $1,085.00 down from $1,086.50. The euro equivalent was €995.32. Ahead of New York’s opening, gold was trading in London above $1,085.60 and in the euro at €995.69.

August 5: Gold and Silver End Near Unchanged

Gold dipped to $1084.67 in Asia before it rallied back to $1092.43 in London and then fell to a new session low of $1083.04 by late morning in New York, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.29%. Silver rose to as high as $14.712 and ended with a gain of 0.07%.

Silver Market Morning

On Friday New York closed at $1,088.20 up $1.90. The dollar is relatively strong at $1.0860 up from $1.0977, with the dollar Index stronger at 98.12 up from 97.32. This morning the LBMA gold price was set at $1,086.50 down from $1,092.60 down $6.10. The euro equivalent was unchanged from yesterday. Ahead of New York’s opening, gold was trading in London above $1,091.50 and in the euro at €1,001.15.

August 4: Gold and Silver End Slightly Higher

Gold dipped $5.21 to $1081.09 in Asia before it bounced back to $1094.55 in London and then fell back off in early afternoon New York trade, but it still ended with a gain of 0.17%. Silver rose to as high as $14.656 and ended with a gain of 0.48%.

Leaving the Information Grid

We've been off the information grid for nearly a month now. Oh, we've still got electricity, the internet, the gas and water and sewer connexions, but a month ago the satellite went away at our command, so no more government and corporate news at 6 p.m. or the Sunday morning food-fights.

Silver Market Morning

On Friday New York closed at $1,086.30 down $8.90. The dollar is relatively unchanged at $1.0977, with the dollar Index almost the same at 97.32. This morning the LBMA gold price was set at $1,092.60 down $0.40. The euro equivalent was €995.35 down €1.96 on Monday. Ahead of New York’s opening, gold was trading in London at $1,093.10 and in the euro at €995.76.

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.

Will Silver and Platinum Outperform Gold in the Near Future?

Summing up, the long-term picture in the USD market continues to appear a bit more bearish than not and the implications for the precious metals are generally positive. The silver-to-gold ratio chart suggests that silver is likely to outperform gold in the months to come, yet it should be kept in mind that this may require some time to happen. Additional short-term volatility has been seen in the platinum market, but this is not unusual.

The Silver Megathrust

Between 1970 and 1979, the silver price was increasing steadily from $1.50 to $6, before taking off in September 1979 from $10 to $50 within 5 months. During that bull cycle, demand for silver did not increase but actually declined (sharply in 1979). It was as late as 1983 when demand increased confidently from 12,000 to 27,000 tons per year until 2000 – yet the silver price was in a 20 year bear market during that time. In 2003, when silver started its new bull market, the demand actually dropped to 23,000 tons until 2005 – during which 2 years silver almost doubled from $4.50 to $8. Since 2005, demand is rising stronger than ever, having reached 33,000 tons in 2010, whereas the silver price is rising strongly as well.

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Silver Market Morning

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Poll: Where will the Silver Price end 2012?

Please vote in our SilverSeek.com Poll! Where will Silver price end 2012? Below $25 $25-30 $30-$35 $35-$40 Above $40

May 9: Gold and Silver Fall 1%

Gold fell over $27 to as low as $1579.74 by about 9AM EST, but it then rallied back higher into the close and ended with a loss of just 0.98%. Silver slipped to as low as $28.629 before it also rallied back higher, but it still ended with a loss of 1.02%.

May 10: Gold and Silver End Mixed

Gold fell another $5.30 to $1585.70 at about 6AM EST before it rebounded to $1601.42 at about 10AM EST and then pared it gains a bit, but it still ended with a gain of 0.19%. Silver slipped to $28.94 before it climbed back to $29.455, but it then fell back off into the close and ended with a loss of 0.48%.

May 11: Gold and Silver Fall About 4% on the Week

Gold fell $20.28 to $1573.72 by about 3:30AM EST before it climbed back to $1590.53 by late morning in New York, but it then fell back off into the close and ended with a loss of 0.8%. Silver slipped to as low as $28.436 by midmorning in New York before it rallied back to $29.15, but it also fell back off in afternoon trade and ended with a loss of 0.58%.

Silver Wheaton Reports a Strong Start to 2012 with Record Quarterly Revenues of US$200 Million

"Solid operating performance from across our portfolio of mines led to a strong start in 2012," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "We achieved record quarterly revenues, and are on target to attaining our annual production guidance of 27 million silver equivalent ounces. With continued positive progress at our world-class cornerstone assets, including the Peñasquito and Pascua-Lama mines, Silver Wheaton retains one of the strongest growth profiles in the sector."

Great Panther Silver Reports First Quarter 2012 Financial Results

"First quarter revenue was directly in line with our expectations, considering the lower production and metal prices compared to Q1 of last year," stated Robert Archer, President and CEO. "This was also a timing issue for us related to a shipment of concentrate to a new smelter where the revenue will be recognized in Q2 this year. With the addition of this new customer, we have secured contracts for the sale of our concentrates for our 2012 planned production."

Live Silver Price Chart

Live 1-Hour Spot Silver Price Chart: http://www.silverseek.com/quotes/hoursilver.php

May 17: Gold and Silver Gain Over 2% and 3%

Gold jumped to as high as $1579.80 by midday in New York before it drifted a bit in afternoon trade, but it still ended with a gain of 2.23%. Silver surged to as high as $28.33 and ended with a gain of 3.2%.

Poll Results: Where will Silver End 2012?

Total votes: 1199 | #1 result = Above $40 (583 votes)

May 21: Gold and Silver End Mixed

Gold fell $6.40 to $1585.00 at about 9:30AM EST, but it then chopped back higher midday and ended with a gain of 0.16%. Silver slipped to as low as $28.076 before it also bounced back higher, but it still ended with a loss of 0.56%.

Huldra Silver Announces Receipt of Mines Act Permits and Amendment to Terms of Credit Facility

Huldra Silver Inc. (HDA.V) (the "Company" or "Huldra") is pleased to announce that the Company has received a Mining Lease and a British Columbia Mines Act Permit approving a mine plan and reclamation program for the Company's Treasure Mountain Mine along with an Amended Permit approving construction and operation of a process plant at the Company's mill site in Merritt, BC.

COMEX Silver Inventory Update: +528,970.137 ounces

COMEX Silver Inventory Update: +528,970.137 ounces

May 31: Gold and Silver End Slightly Lower

Gold jumped to $1573.17 at about 9:45AM EST before it plummeted back to $1552.29 in the next half hour of trade and then bounced back higher midday, but it still ended with a loss of 0.17%. Silver climbed to $28.213 in London and then fell back to $27.54 in midmorning New York trade before it the bounced back higher midday, but it still ended with a loss of 0.68%.

iShares Silver Trust: 9,643.17 tonnes

iShares Silver Trust: 9,643.17 tonnes

June 21: Gold and Silver Fall Over 2% and 4%

Gold fell to as low as $1564.57 and ended with a loss of 2.5%. Silver slipped to as low as $26.849 and ended with a loss of 4.13%.

Pan American Silver Falls to Levels Below Book Value

In trading on Friday, shares of Pan American Silver Corp. (Toronto: PAA) crossed below their last reported book value — defined as common shareholder equity per share — of $17.83, changing hands as low as $17.70 per share. Pan American Silver Corp. shares are currently trading down about 3.2% on the day.

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.

July 13: Gold and Silver End Slightly Higher on the Week

Gold rallied to as high as $1596.35 and ended with a gain of 1.04%. Silver rose to $27.509 in London before it slumped back to $27.14 in midmorning New York trade, but it then surged to a new session high of $27.56 and ended with a gain of 0.3%.

July 19: Gold and Silver End Slightly Higher

Gold climbed up to $1591.49 at about 8:30AM EST before it fell back to as low as $1577.15 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.23%. Silver rose to $27.60 before it dropped back to $27.13, but it still ended with a gain of 0.07%.

July 23: Gold and Silver End Modestly Lower

Gold fell to as low as $1563.41 by about 8:45AM EST, but it then rallied back higher throughout the rest of the morning in New York and ended near its noontime high of $1580.30 with a loss of just 0.42%. Silver slumped to as low as $26.671 before it also rallied back higher and ended with a loss of just 1.14%.

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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