• Gold: 1,294.97 0.01%
  • Silver: 19.61 0%
  • Euro: 1.38 -0.06%
  • USDX: 79.847 -0.02%
  • Oil: 104.55 0.58%

April 17: Gold and Silver Fall Almost 2% on the Week

1 day 12 hours ago

Gold fell to $1296.56 in Asia before it rebounded to $1304.09 in London, but it then fell to a new session low of $1293.29 in New York and ended with a loss of 0.63%. Silver slipped to $19.51 before it bounced back to $19.724 and then also fell back off, but it ended with a loss of just 0.2%.

Silver Market Morning

The gold price closed at $1,308.80 up $12.30 on Tuesday, in New York. The gold price was Fixed in London at $1,309.75 down $5.00. In the euro, it Fixed at €949.920 down €5.22 as the euro was weaker at $1.3788 down from $1.3766: €1. Ahead of the opening in New York gold stood at $1,309.15 and in the euro at €948.45.

April 8: Gold and Silver Gain Almost 1%

Gold climbed $17.25 to $1313.75 in London before it chopped back lower in New York, but it still ended with a gain of 0.95%. Silver surged to as high as $20.18 and ended with a gain of 0.65%.

Monetary Collapse and Silver's Not So Orderly Rise

We are about to see the end of our current international monetary system. Based on much of the evidence that I have written about previously, this appears to be a certainty. The systematic build-up of this current monetary order went together with the gradual phasing out of silver from the monetary order.

The big one

Amidst surging global “horrible headlines,” of all types, physical PM demand is surging. Cartel efforts to cap at $1,300 and $20, respectively, are failing in light of major gold backwardization, and gold’s “golden cross” last week has been substantial technical support into a market screaming “double bottom.”

Silver Market Morning

The New York gold price closed at $1,296.50 up $10.20 on Friday last week the same as yesterday, in New York. Asia showed renewed vigor and lifted the gold price to $1,308 ahead of London’s opening, after their holiday, before London lifted it over $1,312.00 ahead of the Fix. The gold price was Fixed in London at $1,314.75 up $21.25. In the euro, it Fixed at €955.14 up €11.393 as the euro was weaker at $1.3766 down from $1.3706: €1. Ahead of the opening in New York gold stood at $1,311.50 and in the euro at €950.36.

April 7: Gold and Silver End Slightly Lower

Gold fell $7.50 to $1296.00 by early afternoon in New York before it bounced back higher, but it still ended with a loss of 0.54%. Silver slipped to as low as $19.791 and ended with a loss of 0.3%.

SilverCrest Updates Santa Elena Mine Expansion Plan

SilverCrest Mines Inc. (NYSE MKT:SVLC)(SVL.TO) (the "Company") is pleased to provide an update on activities for the expansion of the Santa Elena Mine in Sonora, Mexico. The Santa Elena Mine expansion is on budget (+/-5%) with initial start up of the new 3000 tpd operation anticipated later this month. The most significant activities are outlined below. For additional information and to view photos and videos, please visit the Company's website at www.silvercrestmines.com.

Fortuna Adopts Advance Notice Policy and Majority Voting Policy

Fortuna Silver Mines Inc. (the "Company") (FSM)(FVI.TO)(FVI.TO)(F4S.F) announces that its Board of Directors (the "Board") has adopted an Advance Notice Policy and a Majority Voting Policy with respect to the election of directors.

April 4: Gold and Silver End Slightly Higher on the Week

Gold climbed $20.40 to $1306.70 by early afternoon in New York before it pared its gain into the close, but it still ended 1.34% higher on the day. Silver surged to as high as $20.224 after this morning’s jobs report was released before it also fell back off, but it still ended with a gain of 0.5%.

"Whirlybird Janet" joins the party

As I predicted earlier this week, the NFP report was "weaker than expected." All NFP reports are horrible - and rigged - but with interest rates having crept back up, the government knew it had to get them back down again. And hence, today's near "death cross" in the 10-year Treasury yield - to the downside - just as gold made its own death cross - to the upside earlier this week, with silver soon to follow.

Market Report: Quarter-end distortions in the gold market

The gold price continued last week's fall into Monday, which was the end of the first quarter of 2014. Since then having reached a low point of $1278 in New York trading, gold rallied to a high of $1294 on Tuesday before weakening on Thursday morning.

Silver Market Morning

The New York gold price closed at $1,286.30 down $5.70 on Thursday, in New York. Asia held the price there on Friday morning, before London lifted it over $1,290 ahead of the Fix. The gold price was Fixed in London at $1,293.50 up $6.25. In the euro, it Fixed at €943.747 up €8.653 as the euro was weaker at $1.3706 up from $1.3766: €1. Ahead of the opening in New York gold stood at $1,291.40 and in the euro at €941.97.

April 3: Gold and Silver End Slightly Lower

Gold edged up to $1293.95 in Asia before it fell back to $1281.72 in London, but it then climbed back higher in New York and ended with a loss of just 0.29%. Silver slipped to as low as $19.673 and ended with a loss of 0.6%.

Silver Market Morning

The New York gold price closed at $1,292 up $7.50 on Wednesday, in New York. Asia held the price there on Thursday morning. London took it down $5. The gold price was Fixed in London at $1,287.25 up $3.25. In the euro, it Fixed at €935.094 up €4.187 as the dollar stood at $1.3766 up from $1.3793: €1. Ahead of the opening in New York gold stood at $1,286.65 and in the euro at €934.79.

April 2: Gold and Silver Gain Almost 1%

Gold climbed over 1% to $1294.49 by late morning in New York before it edged back lower in afternoon trade, but it still ended with a gain of 0.74%. Silver surged to as high as $20.142 and ended with a gain of 0.76%.

Silver Market Morning

The New York gold price closed at $1,280.50 down $2.80 on Tuesday, in New York. Asia lifted the price $4 on Wednesday morning. London held it there at the opening. The gold price was Fixed in London at $1,284.00 down $2.50. In the euro, it Fixed at €93o.907 down €1.542 as the dollar stood at $1.3793 up from $1.3797: €1. Ahead of the opening in New York gold stood at $1,283.70 and in the euro at €930.86.

April 1: Gold and Silver Close Mixed Again

Gold edged down to $1278.47 in Asia before it rebounded to $1287.81 in London and then dropped back to $1277.77 by midafternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.22%. Silver slipped to $19.678 before it rebounded $19.902 and then also fell back off, but it still ended with a gain of 0.1%.

The "duh" statement of the century

Frankly, not more to add to that - on a day when Michael Lewis is being feted for claiming the "duh" statement of the century, that markets are rigged. Of course, they are not rigged - as he claims - primaily for the benefit of HFT traders (who are simply leeches to the cancerous system), but the government and TBTF banks that control the markets.

Gold versus Silver

First, silver tends to perform better than gold -- causing the gold/silver ratio to decline -- during the late stages of intermediate-term precious-metals rallies and especially during the late stages of cyclical precious-metals bull markets. It does so for the same reason that highly-speculative junior gold-mining stocks tend to be much stronger than their larger/lower-risk counterparts during the late stages of multi-year advances. As a rally progresses, speculators are emboldened to take more risk and go further down the food chain in search of the proverbial killing.

Silver Market Morning

The New York gold price closed at $1,283.30 down $9.40 on Monday, after a week where the $1,290 level was the consolidation point, in New York. Asia lifted the price $3 on Tuesday morning as the start of the new month began. London took it down to $1,293.50 at the opening. The gold price was Fixed in London at $1,286.50 down $7.50. In the euro, it Fixed at €932.449 down €7.412 as the dollar stood at $1.3797 down from $1.3777: €1. Ahead of the opening in New York gold stood at $1,288.00 and in the euro at €933.77.

March 31: Gold and Silver End Mixed

Gold climbed up to $1298.06 in Asia before it fell back to as low as $1282.52 in afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.73%. Silver climbed to as high as $20.006 before it fell back to $19.726, but it then edged back higher in late trade ended unchanged on the day.

March 28: Gold and Silver Fall About 3% on the Week

Gold climbed $6.19 to $1298.69 at about 4AM EST before it fell back to a new 6-week low of $1285.81 in the next six hours of trade, but it then bounced back higher into the close and ended with a gain of 0.02%. Silver slipped to as low as $19.649 before it also bounced back higher and ended with a gain of 0.2%.

A Golden Opportunity Coming in Silver

Silver has been in a bear market for almost three years and the recent lack of strength suggests the metal could be headed for new lows. New lows are always bearish until the last one. Our technical work suggests that we should watch for a final low and end to the bear market in the coming months.

Silver Market Morning

The New York gold price closed at $1,292.50 down $8.50 on Thursday in New York. All the falls in the last week have happened in New York, but on thin trade. Asia lifted it to $1,296. London then held it at $1,295 at the opening. The gold price was Fixed in London at $1,295.75 up $0.75. In the euro, it Fixed at €944.149 up €2.057 as the dollar stood at $1.3724 up from $1.3846: €1. Ahead of the opening in New York gold stood at $1,295.40 and in the euro at €943.07.

March 27: Gold Slips But Miners Gain

Gold fell $10.29 to $1289.32 at about 3PM EST before it rallied back higher in the last hour of trade, but it still ended with a loss of 0.65%. Silver slipped to as low as $19.609, in London, but it then chopped back higher in New York and ended unchanged on the day.

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