• Gold: 1,302.13 -0.05%
  • Silver: 19.58 -0.21%
  • Euro: 1.38 0.02%
  • USDX: 79.792 0.04%
  • Oil: 103.80 0.14%

April 15: Gold and Silver Fall Almost 2%

43 min 1 sec ago

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%.

Things are about to get VERY interesting.

Well, the week is over, and not a single economic datapoint - despite government massaging - validated last week's "great" NFP payroll report (which itself was predicated on the third largest monthly decline in the Labor Participation Rate in U.S. history). Consequently, Janet Yellen called for indefinite QE (i.e., "to Infinity").

November 15: Gold and Silver End Mixed on the Week

Gold fell $7.24 to $1280.46 at about 5AM EST before it climbed back to $1290.25 by early afternoon in New York, but it then edged back lower into the close and ended with a gain of just 0.01%. Silver slipped to as low as $20.577 and ended with a loss of 0.29%.

SILVER BEARS: You Have Been Warned

What does a 1978 movie about "Silver Bears" have to do with the silver market today? A great deal as you will find out. Nothing today is as it seems anymore. The present financial and economic system is so weak, it only survives by the wholesale packaging of lies.

Silver Market Morning

Gold closed slightly weaker at $1,287.70 up $18.80 in New York on Thursday. Asia held it there this morning but London took it down nearly $5 ahead of the Fix where it was set at $1,281.75 down $1.50 in London, on Tuesday’s Fixing. In the euro it Fixed at €953.399 down €1.8 on Tuesday’s Fixing. Ahead of New York’s opening the euro stood at $1.3448: €1 with gold at $1,282.65 and in the euro at €953.78.

November 14: Gold and Silver Gain Over 1%

Gold climbed over 1% to $1287.84 in Asia before it fell back to $1278.40 in London, but it then rose to a new session high of $1294.07 in New York and ended with a gain of 1.13%. Silver surged to as high as $20.903 and ended with a gain of 1.22%.

Brixton Metals Completes Phase Two Drilling at Thorn

Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) announces that it has completed its phase two exploration program at the Thorn project located in Northwest British Columbia, 95 km ENE from Juneau, AK. Brixton completed 1,461m of NQ size core drilling within seven holes and collected 122 soil samples. The drilling tested for extension at the Oban zone and structural and IP targets at the Oban East, Talisker and Glenfiddich zones.

Silver Market Facts

The silver market is tiny. About 700 million oz. of silver are mined each year worldwide. About 200 million oz. recycled. About 100 million oz. from "other" sources, like governments. That's the supply side. At $20/oz., this is a $20 billion annual market.

SilverCrest Reports Q3, 2013 Financial Results Cash Flow from Operations of $7.1 Million ($0.07 Per Share) Net Earnings $3.71 Million ($0.03 Per Share)

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) (the "Company") is pleased to announce its financial results for the third quarter ended September 30, 2013. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in U.S. dollars unless otherwise specified.

Silver Market Morning

Gold closed slightly weaker at $1,268.90 down $9.60 in New York on Tuesday. But in Asia on Thursday gold was lifted $13 before London took it down $3 ahead of the Fix where it was set at $1,383.25 up $2.25 in London, on Tuesday’s Fixing. In the euro it Fixed at €955.226 down €1.6 on Tuesday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3435: €1 with gold at $1,284.40 and in the euro at €956.08.

November 13: Gold and Silver End Mixed

Gold climbed $10.76 to $1279.66 at about 9AM EST before it fell back to $1268.37 in the next four and half hour of trade, but it then rallied back higher into the close and ended with a gain of 0.35%. Silver edged up to $20.868 before it fell back to $20.443 and then also bounced back higher, but it still ended with a loss of 0.92%.

The Silver Market in 2013

Yesterday Thomson Reuters GFMS released their latest report on the silver market. We take a look at it and assess what it means for the silver price. There are several factors, some positive and others negative, that will affect the price of silver going forward. First up, let’s have the not-so-good news facing the silver price.

November 12: Gold and Silver Fall About 1% and 3%

Gold edged down to $1276.40 in Asia before it climbed back above $1285 in London, but it then dropped to a new session low of $1261.64 by early afternoon in New York and ended with a loss of 1.14%. Silver slipped to as low as $20.583 and ended with a loss of 2.86%.

Something's Gotta Give

Even I have never seen such maniacal attempts to suppress PM prices, including the 113th visit from the 2:15 AM algorithms in the past 125 days; and then, amidst today's ONLY news being a record drop in small business sentiment and record increase in homebuilding cancellations, this…

Silver Market Morning

Gold closed slightly weaker at $1,283.50 down $3.90 in New York on Monday. Asia let it slip, as did London, down to $1,378 ahead of the Fix where it was set at $1,381.00 in London, down $2.74 on Monday’s Fixing. In the euro it Fixed at €956.898 down €0.8 on Monday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3398: €1 with gold at $1,281.30 and in the euro at €956.37.

November 11: Gold and Silver End Slightly Lower

Gold dropped $8.45 to $1278.95 at about 4:30AM EST before it climbed to $1287.37 in the next couple of hours and then fell back off in morning New York trade, but it then edged back higher in the last few hours of the day and ended with a loss of just 0.3%. Silver slipped to $21.22 before it climbed back to $21.45 and then also fell back off, but it ended with a loss of just 0.42%.

Silver Market Morning

Gold closed slightly weaker at $1,287.40 down $29.80 in New York on Friday. Asia let it slip $2 then London came in and took it to $1,282 ahead of the Fix where it was set at $1,383.74 in London, down $25.26 on Friday’s Fixing. In the euro it Fixed at €957.808 down €17.0 on Friday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3398: €1 with gold at $1,286.40 and in the euro at €960.14.

Silver – A Technical Perspective

All people in the futures markets are there to make money, [hedgers excepted], or they would not subject themselves so unnecessarily to the risks. Even buyers of the physical, Stackers, want to get as low a price as they can. More people are fundamentally inclined than are technically driven. As a consequence, they like to read articles that provide a degree of psychological comfort in support of their own view of the market.

November 8: Gold and Silver Fall About 2% on the Week

Gold dropped $25.55 to $1281.15 at about 10:30AM EST before it bounced back higher at times, but it still ended with a loss of 1.48%. Silver slipped to as low as $21.25 and ended with a loss of 0.69%.

2012 Silver Baron Award winner Brad Cooke

Brad Cooke, the CEO of Endeavour Silver (NYSE:EXK) and 2012 winner of the Silver Baron Award, chats with Vanessa Collette about exciting developments he's overseeing at his company.

Silver Market Morning

Gold closed slightly weaker at $1,317.20 up $6.40 in New York on Wednesday. On Thursday it closed at $1,306.70 Asia lifted it $2, then London came in and took it higher. At the Fix it was set at $1,309.00 in London, down $8 over Wednesday’s Fixing. In the euro it Fixed at €975.119 up €0.307 over Wednesday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3419: €1 with gold at $1,309.50 and in the euro at €975.86.

November 7: Gold and Silver Fall Almost 1%

Gold jumped $8.60 to $1325.80 after this morning’s surprise ECB rate cut before it fell to $1296.49 after GDP came out stronger than expected, but it then bounced back higher in late morning New York trade and ended with a loss of just 0.79%. Silver shot to $21.996 before it fell back to $21.382 and then also rallied back higher, but it still ended with a loss of 0.83%.

The more PAPER PMs are held here, the more PHYSICAL supply will contract

In perhaps the greatest farce since December 2011's "OPERATION PM ANNIHILATION II" - when PMs were attacked immediately after a surprise ECB rate cut, supported by the now infamous "fake gold sale headline"; and February 2012's "LEAP DAY VIOLATION," when PMs were attacked right after a higher than expected European LTRO II money printing announcement, they are attacked today just after yet another surprise ECB rate cut - this time, from 0.50% to an even more ridiculous 0.25%.

November 6: Gold and Silver Gain As Dollar Drops

Gold edged down to $1310.00 in Asia before it popped up to $1321.73 at about 6AM EST and then fell back to as low as $1314.69 in New York, but it still ended with a gain of 0.49%. Silver shot to as high as $22.035 before it also fell back off, but it still ended with a gain of 0.46%.

Silver Market Morning

Gold closed slightly weaker at $1,310.80 down $0.60 in New York on Monday. Asia lifted it $3 before London took it higher ahead of the Fix to $1,318.65 after which it Fixed at $1,317.00 in London, up $2.75 over Tuesday’s Fixing. In the euro it Fixed at €975.050 up €3.7 over Tuesday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.35.23: €1 with gold at $1,321.00 and in the euro at €976.82.

Fortuna reports consolidated financial results for the third quarter of 2013

Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI.TO) (F4S.F) today reported revenue of $30.2 million, cash generated from operations, before changes in working capital of $7.6 million and a net loss of $0.3 million in the third quarter of 2013. Income before income tax was $2.2 million.

$100 silver (and $4,000 gold) or lower bullion prices and $20 silver asks inaugural DMCC Precious Metals Conference

Far from being the usual boring consensus event for gold prices, the inaugural Dubai Multi Commodities Centre Precious Metals Conference today struck a decidedly controversial note. Ross Norman of the blue-blooded Sharps Pixley brokers from London was the leader of the bullish camp. He forecast $3,500-4,000 gold prices and $100 an ounce for silver by 2017. His masterly presentation entitled ‘Silver has the bubble burst?’ argued that no it had not, and that merely projecting forward recent growth rates arrived at $100 an ounce within five years. Negative real interest rates were the reason for high precious metal prices cited by most experts. In short inflation is higher than the cost of money so cash on deposit is losing money.

Silver Market Morning

Gold closed in New York at $1,618.40 and in London’s early morning fell to $1,627.35. The Fixing in London today was set at $1,633.25 and in the euro at €1,305.451. Ahead of New York’s opening gold stood at $1,633.00 and in the euro, €1,307.03 while the euro was at €1: $1.2494.

Silver's Fall

We are seeing macro funds buying the gold market and the Silver Trust shares, while other investors are selling to cover their losses in other markets.Silver demand remains vibrant in China and [as a 'needed' metal [in pharmaceuticals and electronics. We do not see that changing! But silver is moving as a monetary metal alongside gold, even though at institutional level it is not considered a monetary metal. We expect this to continue.

Silver and Gold coin sales from national Mints fall in Q1

Silver American Eagle coin sales from the U.S. Mint also fell by 18 percent to 10.139 million ounces in the first quarter. Demand for silver coins and medals hit a record high at 118.2 million ounces last year, according to GFMS.

Silver’s split personality feeds steep price drop

Silver’s split personality as an industrial and precious metal contributed to a steep drop for the second quarter, as the metal’s economic demand prospects and safe-haven appeal duel for investors’ attention.

Gold & Silver Fear Indexes

A discussion with James Turk this week renewed my interest in his Fear Index. So I decided to calculate the current figure. Given the 2.8% GFI figure listed in the equation below, clearly the gold market mania phase is only beginning, when compared to the 1980's peak.

Silver Market Morning

New York gold closed at $1,614.00 up $9.90. Asia and London whipped it up to $1,618.45 early in the London day. Gold was Fixed at $1,616.50 up $13, as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,306.052 nearly the same as yesterday morning. Ahead of New York’s opening, gold was steady at $1,617.29 in the middle and in the euro at €1,307.64.

Gold, Silver Prices Surge After Fed Fires Up QE3

Gold and silver prices blasted to fresh six-month highs as the dollar nose-dived after the Federal Reserve dropped the bomb — a highly anticipated, third round of quantitative easing.

September 19: Gold and Silver End Near Unchanged

Gold climbed $8.73 to $1779.33 in Asia before it fell back to $1763.10 just after this morning’s housing data was released, but it then bounced back higher in midmorning trade and ended with a loss of just 0.01%. Silver saw a slight gain at $34.958 in Asia before it fell back to $34.27 in early New York trade and then also bounced back higher, but it still ended with a loss of 0.49%.

Euro Gold and Rupee Gold

All week, PMs have fought the forces of evil; as they are desperate to prevent the inevitable breakout of the WORLD’S MOST IMPORTANT MARKETS – Euro Gold and Rupee Gold – from breaking above their ALL-TIME HIGHS. Rupee Gold actually did post-QE3 on Thursday, so the Indian government countered by intervening in the currency markets – yet another example of a failed exercise in MONEY PRINTING.

Silver Market Morning

New York closed at $1,764.00 down $10 in line with the fall in the euro. This morning, Asia and London dealers moved it again, in line with the euro’s moves to $1,762. Gold was then Fixed at $1,763.00 and in the euro at €1,370.918 up 1€, while the euro stood at $1.2860. Ahead of New York’s opening gold stood at $1,762.38 and in the euro at €1,369.69.

COMEX Silver Inventory Update: -2,526,941.838 ounces

COMEX Silver Inventory Update: -2,526,941.838 ounces

Cartel Rule #1

Yesterday’s action represented the third violation of “Cartel Rule #1” in the past week. In other words, the implicit “prohibition” of rising PM prices when the Dow plunges. Thus, with another violation appearing ripe to occur this morning – following HORRIFIC jobless claims, Philly Fed, and European GDP numbers - the Cartel attacked at the 9:30 AM COMEX open; to the tune of $20/oz in gold and $0.50/oz in seconds, while no other market budged.

Global Silver Mine Production

In order to satiate the world’s growing hunger for silver, a lot of pressure has been placed on its supply chain. And with total annual supply recently exceeding 31k metric tons (1.0b ounces) for the first time ever, the suppliers of this white metal have so far made a valiant effort to meet demand.

Investment Demand is the Real Key to Rising Silver Prices!

It is my view at SilverPriceAdvisor.com that the outlook for silver prices in 2013 is simply higher! I say “simply higher” because the trend for silver prices in 2013 will be higher as the year moves on. More importantly I say “simply” because the reasons that will drive silver prices up are very simple to understand. This article outlines a conclusion that I always thought might be the underlying reason for rising silver prices but hadn’t yet come to a final conclusion. It has taken me over two years of research, reading probably about fifteen hundred articles and reference materials from over a hundred different sources. What is more incredible, after all this time has passed and how much the price of silver has increased is that there is still so much potential for even more huge profits to be made.

Silver Juniors

Silver mine production is expected to come in at nearly 800m ounces in 2012, an all-time record and the seventh consecutive year of growth (per the U.S. Geological Survey). At 2012’s average silver price, this total represents a value of nearly $25b. There’s a lot of money to be made mining this shiny-white metal!

Volatility In Silver and GDX

In the four large silver bull markets since August 2005 (when the bull market really took off), the daily price of silver went up about 60% of the time and down about 40% of the time. Those bull markets were not constructed upon relentless upward moves, but upon chaotic sometimes up, sometimes down moves. On average, the daily upward moves occurred slightly more often than the daily downward moves. Yet, each bull market moved up over 114% in price from beginning to end.

Silver Market Morning

The gold eased slightly to $1,581.10 in New York, yesterday. In Asia and London it added a dollar before Fixing at $1,582.50 and in the euro at €1,216.372, while the euro was $1.3010. Ahead of New York’s opening, gold was $1,593.70 and in the euro at €1,221.83.

Silver Market Morning

The gold eased further to $1,588.50 in New York, yesterday only 20 cents higher than the day before. In Asia and London it traded higher at $1,592 before Fixing at $1,593.25 and in the euro at €1,219.386, while the euro was $1.3066, up 1.3 cents. Ahead of New York’s opening, gold was $1,592.75 and in the euro at €1,219.34.

iShares Silver Trust Adds 45.06 Tonnes

iShares Silver Trust Adds 45.06 Tonnes

THE FINAL CURRENCY WAR

It looks like the Cartel has executed yet another "named storm" blitzkrieg attack on PAPER PMs; in this case, comically commenced with an anonymous "tweet" yesterday afternoon; yet again, regarding a potential "end to QE." It was only ONE WEEK AGO when the Fed decidedly reiterated QE - as its partner the ECB not only lowered rates, but stated they may reduce rates further (not to mention, rate cuts by Australia and South Korea); and oh yeah, the utter COLLAPSE of the Yen - which will ony further foster "THE FINAL CURRENCY WAR."

Silver Investment Demand: The Ticking Time Bomb

Even though silver investment demand has picked up recently due to the lowest prices in over two years, this may be just the tip of the iceberg for what is to come in the future. Currently, only a small fraction of investors understand silver's future potential but that will change in the next few years.

Silver Price to Rise as Top Miner's High Grade Production Evaporates

One of the most insidious problems taking place in the gold and silver mining industry is the decline in falling yields. Not many realize, when yields decline, production evaporates and disappears. To offset the decline in metal yields, the mining companies have to add new mines and or increase the amount of processed ore.

Silver Companies: The Ones YOU Have to Own!

The average correction since this bull market started was 44%. Some down-side pressure may persist for a while. After the price of silver dropped 57% in 2008, it surged 441% over the following three years. Silver is as oversold as in 2008. A price $ 100/ounce is our target.

Silver… Light at the End of the Tunnel?

Silver’s year-to-date performance has been the worst among all commodities, falling 35% from January to June 30th this year. It’s been a rough ride for those who have held on, but recent news should give silver investors a reason for some renewed optimism.

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