• Gold: 1,173.60 -0.15
  • Silver: 15.70 0.00
  • Euro: 1.224 0.003
  • USDX: 88.279 0.638
  • Oil: 55.80 -1.02

December 24: Gold and Silver End Near Unchanged in Quiet Trade

14 hours 9 min ago

Gold gained $6.43 to $1181.03 by a little after 4AM EST before it fell back to $1172.97 at about 9:45, but it then bounced back higher into the close and ended with a loss of just 0.03%. Silver edged up to $15.863 before it fell back to $15.682, but it still ended with a gain of 0.26%.

Silver Market Morning

New York closed at $1,229.60 up $24.60 before Asia took it up to $1,236 then down to $1,231. The euro recovered half a cent at $1.2388. In London’s the gold Fixing was set at $1,228.25 up $21.75 and in the euro, at €991.884 up €16.134 while the euro was slightly stronger at $1.2383. Ahead of New York’s opening gold was trading in London at $1,228.00 and in the euro at €992.16.

NEW UPDATE: Silver Eagle Sales Surpass 2013 Record At Nearly 43 Million

After the U.S. Mint updated its bullion figures on Monday, 2014 Silver Eagle sales reached a new annual record surpassing last years total by nearly 200,000. Not only was 2014 a banner year for world’s most sought after official coin, the Silver-Gold Eagle ratio also hit a new record high.

December 9: Gold and Silver Gain Over 2% and 4%

Gold climbed $29.19 to $1234.19 by late morning in New York before chopped back lower at times, but it still ended with a gain of 2.04%. Silver surged to as high as $17.205 and ended with a gain of 4.03%.

Silver Market Morning

New York closed at $1,205.00 up $13.60 before Asia held it there. The euro recovered nearly a cent at $1.2336. In London’s the gold Fixing was set at $1,206.50 up $11.25 and in the euro, barely changed, at €975.75 up €0.275 while the euro was stronger at $1.2365 over 1 cent higher. Ahead of New York’s opening gold was trading in London at $1,205.90 and in the euro at €975.92.

December 8: Gold and Silver Gain About 1%

Gold bumped up to $1197.94 by a little after 9AM EST before it fell back to unchanged at $1191.40 in the next couple of hours of trade, but jumped to a new session high of $1208.85 in early afternoon trade and ended with a gain of 1.14%. Silver surged to as high as $16.423 and ended with a gain of 0.55%.

The Mother of all Bank Runs!

Do you remember seeing old pictures of the Great Depression which depicted "lines"? There were two types, bread lines and also lines to the front doors of banks. While we don't see any bread lines today, trust me, there are bread lines in every single state, and long ones at that. Nearly 50 million people in the U.S. survive on SNAP, EBT cards or whatever they are called in your state. Can you imagine the "confidence" it would instill if each day on your way to work you saw massive lines of people waiting for breakfast?

Silver Market Morning

New York closed at $1,191.40 down $14.90 on the high of the week before Asia took it up slightly to $1,195. This was due to a falling euro which started the week at $1.2284. In London’s the gold Fixing was set at $1,195.25 down $8.75 and in the euro at €975.475 down €2.115 while the euro was weaker at $1.2253. Ahead of New York’s opening gold was trading in London at $1,195.20 and in the euro at €975.43.

TOP PRIMARY SILVER MINERS Q3 2014 RESULTS: Losses At $19

With all the third-quarter results finally out, the top primary silver miners as a group lost money producing silver at $19 an ounce. This is not good news as the current price of silver is nearly $3 lower. I would imagine the fourth quarter will be extremely painful for the primary silver mining industry that actually produces wealth, unlike the Banking community that behaves more like a BLOOD SUCKING LEECH.

December 5: Gold and Silver Gain Over 2% and 5% on the Week

Gold edged up to $1207.47 at about 8:15AM EST before it dropped to $1187.20 just after this morning’s jobs report was released and then bounced back higher at times, but it still ended with a loss of 1.24%. Silver slipped to as low as $16.22 and ended with a loss of 1.03%.

Market report: Post referendum bounce

It turns out the Swiss referendum last weekend which sought to force the Swiss National Bank to maintain 20% gold reserves was a red herring so far as precious metal markets are concerned.

December 4: Gold and Silver End Mixed Before Jobs Day

Gold dropped $8.61 to $1201.89 in London before it ran up to $1213.28 at about 9AM EST and then chopped back lower in New York, but it ended with a loss of just 0.35%. Silver slipped to $16.378 before it bumped up to $16.647 and then also fell back off, but it still ended with a gain of 0.24%.

Silver Market Morning

New York closed at $1,210.50 up $12.20 before Asia dropped the price to $1,206. In London’s the gold Fixing was set at $1,204.00 $0.75 and in the euro at €977.590 up €2.351 while the euro was weaker at $1.2316. There was one seller at the Fix selling 26,000 ounces and two buyers buying 20,000 ounces. Ahead of New York’s opening gold was trading in London at $1,203.10 and in the euro at €976.50.

December 3: Gold Gains 1% While Sliver Slips

Gold climbed $10.01 to $1208.31 in late Asian trade before it fell back to nearly unchanged at about 7AM EST, but it then rose to a new session high of $1213.83 in New York and ended with a gain of 1.02%. Silver edged up to $16.569 at one point, but it then chopped back lower at times and ended with a loss of 0.18%.

Silver Market Morning

New York closed at $1,198.30 down $14.30 before Asia took the gold price up to $1,206. In London’s the gold Fixing was set at $1,203.25 up $6.25 and in the euro at €975.239 up €12.556 while the euro was a cent weaker at $1.2338. There were two sellers at the Fix selling 22,000 ounces and two buyers buying 26,000 ounces. Ahead of New York’s opening gold was trading in London at $1,204.00 and in the euro at €976.72.

Liberty Dollar founder avoids imprisonment in sentencing

We have it only through a reliable intermediary that Liberty Dollar founder Bernard von Not Haus, convicted rather strangely almost four years ago of counterfeiting for issuing silver coins worth more than the originals they were supposed to be imitating, received a lenient sentence today from Judge Richard Voorhees in U.S. District Court for the Western District of North Carolina -- six months of home confinement and three years of probation.

MASSIVE INDIAN SILVER IMPORTS: Setting Up For Another Big Record Year

With the paper price of silver now below the break-even for the majority of the primary silver mining companies, India imported a massive 1,243 metric tons of silver in October alone. What is quite interesting about this figure is that it comes in at one metric ton shy of the previous record set in May, 2011 at 1,244 mt.

December 2: Gold Dips and Silver Slips

Gold dropped $20 to $1192.60 in late Asian trade before it bounced back higher in London and New York, but it still ended with a loss of 1.18%. Silver slipped to as low as $16.084 and ended with a loss of 0.12%.

Silver Open Interest Anomaly

Each week the CFTC publishes data from futures and options contracts for many commodities. Open interest shows the number of open contracts – one long for each short – in a particular commodity, say silver.

Santacruz Silver Reports Third Quarter 2014 Financial Results

"The third quarter has seen continued improvements at the Rosario Mine. Most importantly we have seen a significant increase in our revenues while at the same time a continuous reduction in our operating costs per silver equivalent ounce resulting in positive cash flow of $464,000 at our Rosario Mine during the quarter."

Silver Market Morning

New York closed at $1.212.60 and Asia took the gold price down slightly to $1,208. The recovery from $1,151 to $1,218 at its daily peak was $67. In London’s the gold Fixing was set at $1,197.00 up $18.25 and in the euro at €962.683 up €17.225 while the euro stood at $1.2434. There were two sellers at the Fix selling 30,000 ounces and one buyer buying 36,000 ounces. As we wrote this gold was trading in London at $1,198.30 and in the euro at €962.84.

December 1: Gold and Silver Gain Almost 4% and 7%

Gold dropped $24.17 to $1142.83 at the open of trade last night, but it then climbed back higher throughout most of the rest of trade and ended near its early afternoon high of $1220.22 with a gain of 3.91%. Silver slipped to as low as $14.436 at one point, but it then rose to as high as $16.75 and ended with a gain of 6.67%.

Supreme Court of Canada Dismisses Appeal Application by Hector Davila Santos

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce that the Supreme Court of Canada has dismissed the leave to appeal application by Hector Davila Santos ("Davila Santos") and Minerales y Minas Mexicanas, S.A. de C.V. ("MMM") against the Company.

Santacruz Silver Announces Amendment to Silver Prepay Agreement

Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (SCZ.V) reports that it has amended the previously announced US$28.4 million Pre-paid Silver Purchase Agreement with JMET, LLC ("JMET") wherein the Company had agreed to sell 4,635,000 ounces of silver through August 2019, subject to certain adjustments relating to metal prices. The original agreement was announced in a news release on September 18, 2014.

Silver Market Morning

New York and Asia took the gold price down to $1,151 before Asia and London took it way back above New York’s close of $1,167 to $1,183, ahead of London’s Fixing. Gold was then Fixed at $1,178.75 down $5.75 and in the euro at €945.458, down €3.737 while the euro stood at $1.2468. There were two sellers at the Fix selling 40,000 ounces and two buyers buying 54,000 ounces. As we wrote this gold was trading in London at $1,174.10 and in the euro at €942.27.

SILVER EAGLE & MAPLE LEAF RECORD SALES: Five Times Larger Than 2007

The Royal Canadian Mint just released their figures for the quarter showing record Silver Maples sales for the year. Sales of Silver Maples weren’t as strong in the third-quarter compared to the same period last year, but they outperformed Silver Eagles in percentage terms.

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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