• Gold: 1,287.09 -0.23
  • Silver: 19.47 -0.01
  • Euro: 1.314 -0.000
  • USDX: 82.725 -0.011
  • Oil: 95.64 -0.22

Silver Market Morning

1 hour 5 min ago

The gold price closed at $1,287.30 down $2.00 on Friday in New York. In Asia and London, gold prices were slightly higher in both the dollar and the euro at $1,288. The gold price was Fixed at $1,287.25 down $4.75 and in the euro at €979.344 down €1.599, while the euro was weaker at $1.3144. Ahead of New York’s opening, gold was trading at $1,287.60 and in the euro at €980.17.

April 25: Gold and Silver End Slightly Higher on the Week

Gold climbed $12.06 to $1304.96 at about 10:30AM EST before it chopped back lower into midday, but it still ended with a gain of 0.76%. Silver surged to as high as $19.803 and ended with a gain of 0.2%.

Are ‘dollar bugs’ insane? Blind?

I’m not only an avid reader of precious metals articles on the Internet, I also love to read the reader comments that follow. This morning, I was struck by the comments that followed a brief interview with Peter Schiff (conducted by a reporter on The Wall Street Journal’s “marketwatch” website).

FMQ Update and valuing gold

 In the two months since my last update on USD Fiat Money Quantity, it has increased by $292bn to $12.861 trillion and is still growing rapidly...

April 24: Gold and Silver Erase Early Losses and End Higher

Gold dropped $15.69 to $1268.71 at about 8:20AM EST before it shot up to $1297.96 in the next hour and a half of trade and then fell back off into late morning in New York, but it still ended with a gain of 0.66%. Silver slipped to $18.957 before it jumped up to $19.915 and then also fell back off, but it still ended with a gain of 1.24%.

It's just a matter of when

It looks like another COMEX options expiration day to me; as with 500,000+ ounces of gold still standing delivery from prior months' contracts - and (if you believe it) just 820,000 ounces of registered inventory, you can bet the Cartel is terrified of a major delivery demand. Meanwhile, gold has never been in such backwardation, and PHYSICAL demand is surging -with the US Mint rationing silver Eagles, and on pace to shatter last year's record level.

April 23: Gold and Silver Close Barely Lower While Miners Gain Over 2%

Gold dipped $2.64 to $1282.36 in Asia before it popped up to $1288.84 in London and then dropped to a new session low of $1281.03 in late morning New York trade, but it then rallied back higher midday and ended with a loss of just 0.05%. Silver slipped to as low as $19.399 and ended with a loss of 0.1%.

Santacruz Silver Announces Trading on OTCQX

Santacruz Silver Mining Ltd. (TSX VENTURE:SCZ)(SZSMF) (the "Company" or "Santacruz Silver") is pleased to announce that its common shares will commence trading on the OTCQX marketplace in the U.S., effective April 23rd, under the ticker SZSMF. Trading on OTCQX is designed to provide current and future U.S.-based shareholders with greater access and ease to trading the Company's shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Santacruz Silver on www.otcmarkets.com.

April 22: Gold and Silver End Mixed and Near Unchanged

Gold edged up to $1292.44 at about 8:30AM EST before it dropped down to $1278.91 in the next few hours of trade, but it then bounced back higher in afternoon trade and ended with a loss of just 0.39%. Silver rose to $19.541 in London before it also fell back off in early New York trade, but it then rallied back higher into the close and ended with a gain of 0.15%.

A game-changer the ‘peons’ could control

Of this we can be sure: China WILL keep accumulating record amounts of precious metals. Why, one asks, would China suddenly reverse course and change a policy that it has now been aggressively pursuing for years? Such a scenario would not/does not make sense.

The historic game of can-kicking

The historic game of can-kicking continues, with the cataclysmic news that last week, the Japanese 10-year Treasury bond had ZERO bids for 36 straight hours. In other words, QE has so horribly distorted valuations, there are literally no buyers left; or sellers, for that matter, in fear that Abenomics will be increased. The same has occurred in essentially all the world's paper markets, as this historic, Frankenstein-like game of money printing and market commandeering plays itself out.

Silver Up & S&P Down

Silver has had three bad years while the S&P has had 5 good years. It is time for both markets to reverse. Examine the following graph of Silver versus the Silver to S&P ratio. It tells me the ratio has returned to levels seen in 2008 and that the ratio follows the price of silver. This is interesting but not that helpful.

April 21: Gold and Silver End Slightly Lower

Gold fell $11.92 to $1282.98 at about 8:20AM EST before it bounced back to $1291.21 in the next 45 minutes of trade, but it then chopped back lower midday and ended with a loss of 0.38%. Silver slipped to as low as $19.297 and ended with a loss of 1.07%.

Silver Market Update

Silver’s recent rally was feeble compared to gold’s, and the retreat that followed has already erased all of the gains made, and already brought it back close to key support at its June and December lows, as we can see on its 1-year chart below. This much lower high and recent preponderance of downside volume are negatives that portend a severe test of this support and its possible failure soon. However it should be noted here that failure of this support won’t necessarily lead to a severe decline, as it may be that silver simply wants to gravitate towards its long-term uptrend line, which we can see on the long-term chart further down the page, which is now not all that far beneath the support.

The Dark Side Of The Silver Mining Industry

There is an insidious Dark Side to the silver mining industry that goes unnoticed by the majority of investors and analysts. Actually, I haven't come across one mining analyst who puts out comprehensive data on this very subject for the silver mining industry.

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

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%.

Santacruz Silver Announces First Quarter 2014 Production Results/ Ramp Up Program at Rosario Mine is on Schedule

Santacruz Silver Mining Ltd. (TSX VENTURE:SCZ) (the "Company" or "Santacruz") is pleased to announce first quarter 2014 production of 159,729 silver equivalent ounces from the Company's Rosario Mine in San Luis Potosi, Mexico. This production represents a 260% quarter over quarter increase as compared with Q4 2013 and demonstrates the Company is on schedule to meet its production target of between 850,000 to 1,100,000 silver equivalent ounces by the year-end 2014.

Precious metals Market report

It wasn’t meant to be like this: six years of global money-printing should have guaranteed economic recovery. Until very recently, there was hope that finally the medicine was having some effect; but in the last few weeks investors have become noticeably more cautious. Is it Ukraine, or is it the slow-down in China? Whatever the story the truth is revealed in the chart of recent US bond prices shown below.

Silver Market Morning

The gold price closed at $1,303.10 down $0.20 on Wednesday, in New York. At Asia’s closed it was pulled it down to $1,297 initially at which price London opened. The gold price was then Fixed in London at $1,301.50 up $2.50, because of the stronger euro. In the euro, it Fixed at €941.615 up €3.031 as the euro went stronger at $1.3822 up from $1.3840: €1. Ahead of the opening in New York gold stood at $1,298.50 and in the euro at €936.80 as the euro weakened again to $1.3861.

David Morgan Interview on Silver Market, Silver Price Manipulation and the Coming Global Monetary Reset

Since there is a lot of talk about a potential gold re evaluation following an international monetary reset, I wanted to interview David Morgan, renowned silver market analyst, in order to have his views on a couple of topics, including silver evolution, silver manipulation, and the potential price of silver after a financial reset.

April 16: Gold and Silver End Slightly Higher

Gold dropped down to $1293.56 in Asia before it popped up to $1305.37 at about 8:30AM EST and then chopped back lower in midmorning New York trade, but it then edged back higher in afternoon trade and ended with a gain of 0.015%. Silver slipped to $19.356 before it rallied back to $19.775 and then also fell back off, but it still ended with a gain of 0.25%.

Silver Market Morning

The gold price closed at $1,302.90 down $23.80 Tuesday, in New York. Asia pulled it down to $1,295 initially before lifting it back to $1,300 ahead of London’s opening, where it rose to $1,304. The gold price was then Fixed in London at $1,299.00 down $12.50, because of the stronger euro. In the euro, it Fixed at €938.584 down €11.847 as the euro was stronger at $1.3840 down from $1.3800: €1. Ahead of the opening in New York gold stood at $1,302.90 and in the euro at €941.40.

First Majestic Announces US$30M Forward Sale Contract on Lead Production

First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX - FR, NYSE - AG) is pleased to announce that it has entered into a US$30 million forward sale contract with Bank of America Merrill Lynch (BAML) on a portion of the Company's future lead production. All amounts are in U.S. dollars unless stated otherwise.

April 15: Gold and Silver Fall Almost 2%

Gold fell almost 3% to $1290.56 at about 8:30AM EST before it rallied back higher in New York, but it still ended with a loss of 1.79%. Silver slipped to as low as $19.264 and ended with a loss of 1.85%.

Silver Market Morning

After Mario Draghi’s confirming that he wants to see a weaker euro, the market has obliged by pulling it back from its recent peak just under $1.40: €1 to $1.38: €1. If gold is moved in the same way as gold, we come to $1,307. This is where the gold price is now. We did not see selling of gold to press the gold price down, but dealer’s adjustment of prices in line with the dollar’s strength. Like the waves on the seashore the gold price fell but we believe this will bring in Asian buyers allowing the gold price to move higher after the current consolidation is complete.

Silver, Gold, and What Could Go Wrong

Richard Russell thinks the stock market is currently dangerous and that silver and gold are safe. He understands that gold and silver are eternal wealth with NO counter-party risk. What is counter-party risk? It is the risk that paper wealth is not real, that debts will not be paid, that dollars, yen, and euros will decline in purchasing power, that your employer will declare bankruptcy and your pension will be cut in half, that your brokerage account will be hypothecated by management, that your bank will declare bankruptcy and your deposits in that bank are unsecured liabilities of the bank and may not be paid either timely or in full. In short, there is counter-party risk in almost everything.

Death at Doe Run

Wallace, Idaho – While our first Affirmative Action president fiddles, Nero-like, over the smoking rubble that was the American economy, few outside of the gun-nut community – of which we are card-carrying members – noticed the newest death-rattle, this emanating from the small (pop. 3,468) town of Herculaneum, Missouri.

7 Reasons Why India Imports A Lot Of Silver

India is the world's largest market for silver, and it doubled the amount of silver it imported last year. Why? That's a complicated question, but here are seven factors that affect Indian demand for silver.

The Dark Side Of The Silver Mining Industry

There is an insidious Dark Side to the silver mining industry that goes unnoticed by the majority of investors and analysts. Actually, I haven't come across one mining analyst who puts out comprehensive data on this very subject for the silver mining industry.

Silver – Letting The Market Speak

We are not a source for or fans of endless statistics, like the number of ounces purchased from one period over another, how many ounces are...

Another Spectator Sport (besides football)

Wallace, Idaho – January brought mixed news to our beleaguered mining camp here in the (finally) snowy Coeur d'Alenes. The party ended for United Silver Corp., 80 percent owner of the Crescent silver mine located between the Sunshine and Bunker Hill, on the 9th of this month, when USC announced the appointment of an Ontario court-ordered receiver for the Vancouver-based company and resignations of the then-current board of directors.

Silver, Gold, and What Could Go Wrong

Richard Russell thinks the stock market is currently dangerous and that silver and gold are safe. He understands that gold and silver are eternal wealth with NO counter-party risk. What is counter-party risk? It is the risk that paper wealth is not real, that debts will not be paid, that dollars, yen, and euros will decline in purchasing power, that your employer will declare bankruptcy and your pension will be cut in half, that your brokerage account will be hypothecated by management, that your bank will declare bankruptcy and your deposits in that bank are unsecured liabilities of the bank and may not be paid either timely or in full. In short, there is counter-party risk in almost everything.

Gold in near-death experience on Comex

Well, it’s a bit of an exaggeration, but for the first three days of this week daily turnover in the gold future fell to about 80,000 contracts, compared with a more normal level of 120,000. At the same time volatility fell to as close to zero as you can get. The week started with the gold price at $1241 and until yesterday at 1.00pm UK time stuck to a tight range of $7 centred on $1244. Open interest picked up a little, as shown in our first chart.

Silver Market Update

The public are now extremely bearish on silver, with a widespread perception that it is “done for”, but as we will see, even if there is some further short-term weakness, the longer-term outlook for silver is very bright indeed.

Explaining My Portfolio

I have received quite a lot of questions regarding the newsletter portfolio as well as my major holdings. In this article I will try and explain some of the basic points of what my asset investments are, as well as what is and what isn’t on my watch-list. However, before I continue I would like to say to all those who subscribe and follow my portfolio: you shouldn’t do what I do. You shouldn’t listen to me or anyone else on the internet / tv / radio. There is a particular reason why I hold various assets and these reasons might not make any sense to you. You should buy and sell assets which make sense to you. Therefore, do your own research so that you can win (or lose) your own money. That is always the best way.

Poll: Is the Silver Price Manipulated?

SilverSeek.com community vote -- this poll will be open until June 3, 2012.

A Blueprint to Kill JP Morgan’s Alleged Massive Manipulative Position in the Silver Futures Market

Our mission at SmartKnowledgeU, besides helping our clients to protect and grow their wealth in the face of the criminality of the global banking cartel, has always been, since day one, to also be a spark to reinstate a sound, gold-based monetary system. Bankers have released so much propaganda and deceit regarding the inability of our current fraudulent monetary system to return to a gold-based monetary system that I have written two books to be released this month and next that refutes the banker-created drivel and propaganda regarding the inapplicability of a gold-based system.

Managed money positions hint at bullish turns for gold and silver

I have recently written about the breakdown of disaggregated data from the futures markets into producers and swap dealers for gold and silver futures, as reported in the Commitment of Traders reports issued by the US government’s Commodity Futures Trading Commission (CFTC). There is a further category of trader to consider, and that is Managed Money.

Judge throws out CFTC's position limits rule

A U.S. judge handed an 11th-hour victory to Wall Street's biggest commodity traders on Friday, knocking back tough new regulations that would have cracked down on speculation in energy, grain and metal markets.

China Silver Demand to Advance to Record on Wealth Protection

Silver demand in China, the world’s second-largest user, is set to jump as much as 10 percent next year to a record as investors look to preserve wealth, according to Beijing Antaike Information Development Co.

CFTC Commissioner Bart Chilton on HFT Regulations, Silver Manipulation Probe & MF Global

We talk to Bart Chilton, author of "Ponzimonium," about how the law needs to change in order to make bringing fraud charges forward, easier. One of those things is the laws and wording around "intent," something that has made prosecution and regulation much more difficult. And one place that regulation is important is in preventing, or curtailing market manipulation, specifically the manipulation of the gold and silver market. There is much speculation about the role of large bullion banks in the gold and silver market, and how they may be using large, concentrated directional positions to affect the price. There has been an ongoing CFTC investigation that Bart Chilton hopes will provide some answers for the public soon.

A New Silver Producer on the Rise

The latest price declines of gold and silver resulted in mining stocks tumbling heavily, whereas some stocks notably bottomed and started healthy rebounds most recently. Among our favorite stocks for short- and long-term recoveries is the new silver producer Santacruz Silver Mining Ltd. (TSX-V: SCZ; Frankfurt: 1SZ) which announced the start of commercial production of its 100% owned Rosario Mine in the Mexican state San Luis Potosi last week.

Gold and Silver Disaggregated COT Report (DCOT) for May 3

This week’s Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report was released at 15:30 ET Friday. Our recap of the changes in weekly positioning by the disaggregated trader classes, as compiled by the CFTC, is just below.

The Final Currency War

The "FINAL CURRENCY WAR" is heating up; as Japan's money printing orgy is backfiring - big time. The Nikkei plunged 7.3% overnight, while 10-yr JGB's soared pushed above the BOJ's 1% "Maginot Line." Global equities are falling sharply; but of course "the buck stops" with the U.S. - care of the PPT.

Silver Aiding New Medical Technologies

Recent advances in biotechnology have brought a focus on silver's centuries-old role in medicine; that of acting as an important weapon in the fight against infection and disease. Silver is a critical element in bandages used to treat wounds and reduce the threat of infections in difficult environments. It has also been a key component of treatment in hospitals to reduce the spread of surgical infections in the operating room and in patient care areas.

When? When? When?

Money printing is out of control by government, $1 trillion more in spending per year that they don't have, that's $1000 billion. There is no political will to stop the spending. Tea party Republicans are a tiny minority, and often cave in for small victories, rather than really hold the line on spending.

Silver Market Morning

New York closed at $1,371.30 down $4.70. Asia took it down to $1,363 ahead of London’s opening but then London pulled it back to $1,365 before it Fixed in London at $1,360.00 down $5.75 and in the euro at €1,015.380 down nearly €5.00. Ahead of New York’s opening gold was at $1,363.5 and in the euro at €1,017.08.

Silver Manipulation - HSBC Connection To US Mint? Christian Garcia & Mike Maloney Interview

See Christian's original video here: http://www.youtube.com/watch?v=ll-9un... For more information about Gold & Silver or Mike Maloney, visit the Why Gold & Silver channel and subscribe: http://goo.gl/emXEB

14 ways manipulation could end ... but it won’t be today

In my last column, I attempted to defend my “assumption” that “manipulation is here to stay.” Today, my charge is to present several scenarios that would/could end the manipulation of precious metals.

Should we all buy silver on May 1st? Twelve reasons I say, “dang straight!”

An effort has recently been launched on the Internet to get those who believe in “real money” to buy (physical) silver on May 1st. It’s too soon to know if this grassroots’ appeal goes “viral” and makes a statement that influences not only markets, but the mainstream media and perhaps even the world.

I’m assuming manipulation is here to stay

For the purposes of this column I’m going to start with an assumption - not just any assumption, but a crucially important assumption; probably the only assumption that matters.

Gold's Little Brother Is Talking

Silver seems set to perform well against the dollar, but it also appears to be ready to make gold look like a bit of a slug.Unlike most silver investors, I have no interest in selling silver for “dollars of profit”. I view silver primarily as a currency.Gold is the ultimate currency, and I think silver is best viewed as “gold’s little brother”.I sold silver for gold in the first quarter of 2011, and now it’s time for me to buy silver with gold.

COMEX Silver Inventory Update: -1,063,729.540 ounces

COMEX Silver Inventory Update: -1,063,729.540 ounces

COMEX Silver Inventory Update: -948,613.090 ounces

COMEX Silver Inventory Update: -948,613.090 ounces

Silver Price Projection – for 2013

An objective and reasonable estimate for the price of silver at the next intermediate peak (estimating 2013 – Quarter 2) is $50 to $60 per ounce (current price is about $28). This is not a prediction based on wishful thinking and hope, but a best estimate based on rational analysis of data stretching back to 1975.

COMEX Silver Inventory Update: +1,534,729.460 ounces

COMEX Silver Inventory Update: +1,534,729.460 ounces

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Bill Rice, Jr., 98.3% (12 votes)
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Short Side of Long, 93.3% (3 votes)
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Bill Rice, Jr., 98.3% (12 votes)
Bill Rice, Jr., 100.0% (18 votes)
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