• Gold: 1,213.74 -1.88
  • Silver: 17.16 -0.01
  • Euro: 1.070 -0.001
  • USDX: 100.55 0.05
  • Oil: 53.45 0.94

January 17: Gold and Silver Gain Over 1% and 2%

10 hours 51 min ago

Gold traded mostly modestly higher in holiday thinned trade yesterday and rose to as high as $1218.68 in London today before it chopped back lower at times in New York, but it still ended with a gain of 1.44% from Friday’s close. Silver rose to as high as $17.20 and ended with a gain of 2.2%.

July 13: Gold and Silver Gain About 1% While Stocks Hold Near Unchanged

Gold dipped $4.38 $1327.82 in early Asian trade, but it then rose to as high as $1345.06 by midmorning in New York and ended with a gain of 0.87%. Silver rose to as high as $20.466 and ended with a gain of 1.44%.

Silver Market Morning: July-13-2016 -- Gold and silver prices marked down, still waiting for the Bank of England!

The Chinese gold market followed New York down, but then turned it up at China’s morning Fix taking it higher during their day to set the pace for London’s morning. The attempt to break the gold price down in New York with the very large physical gold sale worked to some extent, but Shanghai then ignored the sale as demand came in at the lower prices. Certainly, Shanghai took the reins in the last day against the will of New York. We will watch today to see who exerts dominant pricing power?

July 12: Gold and Silver Fall While Stocks Rise To New Record Highs

Gold saw slight gains in Asia, but it then fell back off for most of trade in London and New York and ended near its early afternoon low of $1331.05 with a loss of 1.65%. Silver slipped to as low as $19.977 and ended with a loss of 0.99%.

Fortuna Reports Second Quarter 2016 Silver and Gold Production

Fortuna Silver Mines Inc. (FSM) (FVI.TO) is pleased to announce second quarter production figures from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver and 9,365 ounces of gold plus base metal by-products.

Silver Market Morning: July-12-2016 -- Gold and silver prices waiting for the Bank of England!

Ahead of the opening in New York the gold price stood at $1,347.65 and in the euro at €1,214.21. London is trying to establish a pattern of lower prices ahead of New York when it feels physical buying may not appear in New York and in particular the gold ETFs. The moment physical interest is shown in the ETFs the gold price is lifted.

July 11: Gold and Silver End Mixed While SPX Closes at Record High

Gold jumped $7.55 to $1374.75 at the open of trade last night before it fell to as low as $1351.35 in midmorning New York trade and then bounced back higher into midday, but it still ended with a loss of 0.92%. Silver jumped to as high as $20.668 in Asia before it dropped back to $20.155 in early New York trade, but it then chopped back higher into the close and ended with a gain of 0.5%.

Repeat Of 70s Pattern Shows That A $675 Silver Price Is Realistic

In my previous silver article, I highlighted a very bullish pattern/fractal on the 100-year silver chart. It was a very big picture view of silver, which is really difficult to perceive within our current reality. However, at some point in time, it will catch up with our current reality. This will likely happen when the monetary system collapses.

Fortuna Announces Changes in Management

The company is pleased to announce the appointment of Mr. David Volkert as new Vice President of Exploration effective August 8, 2016. David is a discovery oriented professional with multiple discoveries over his thirty-eight years in mineral exploration. David's work experience includes senior positions as CEO at Paget Minerals Corp., VP Exploration at Bear Creek Mining Corp., and Exploration Manager (Peru) at Barrick Gold. David will be responsible for leading the discovery of new mineral resources through the planning and execution of Fortuna's brownfields and greenfields exploration programs.

Silver COT update

The problem we have in these computer-driven markets is that those machines know nothing of finesse like we long-time traders once practiced. They are either ALL-IN or ALL-OUT. Once any technical chart level gets tripped, the machines start firing off their buy or sell orders and the rest is then automatic. The larger this hedge fund long position gets, the larger the potential for a severe burst of selling becomes as the computers start closing out (liquidating) those longs IF A CHART SUPPORT LEVEL FAILS TO HOLD.

July 8: Gold and Silver Gain About 2% on the Week

Gold bounced between $1353.49 and $1363.32 just ahead of this morning’s jobs report and jumped between $1342.57 and $1369.90 in the hour afterwards before it drifted back towards $1350 by late morning in New York, but it then rallied back higher into the close and ended with a gain of 0.6%. Silver rose to as high as $20.205 and ended with a gain of 2.64%.

Mexican Silver-Miner Makes $2.2 Billion in June

When miners move, they move hard and fast. That’s what happened toward the end of the 1970s and it is happening today as well. The interrupted upwards curve of metals prices against the dollar has resumed. The manipulations have seemingly ceased for the moment. (See previous metals articles.) Perhaps the Chinese are buying. Having bought long ago, Alberto Bailleres has certainly made money.

Silver Market Morning: July-08-2016 -- Gold and silver prices consolidating before moving higher!

Whenever you get that feeling that the way higher is free of obstacles, profit taking usually kicks in or a simple pause or consolidation comes in. That’s what’s happening now. While we have not seen any physical gold sales out of the gold ETFs we follow until now, the appearance of one dampens euphoria. Today, is an expression of that.

July 7: Gold and Silver Fall Before Jobs Day

Gold saw slight gains in Asia before it fell to see a loss of $12.89 at $1351.11 in late morning New York trade, but rallied back higher into the close and ended with a loss of just 0.36%. Silver slipped to a low as $19.467 and ended with a loss of 2.09%.

Silver Market Morning: July-7-2016 -- Silver price pauses before moving higher!

While global financial markets are slightly calmer today, we see them digesting the worrisome information coming out of the impending crises areas. None of the information has changed but global financial markets need to get a sense of proportion and measure each factor within this context. For instance the Italian Banking crisis can drag out through the summer and could gain the green light for the Italian government to inject funds into them. Then it appears that in the short to medium term, the crisis would evaporate.

How High Is "Sky-High" Silver?

Now that the precious metals’ five year cyclical bear market is acting like it's been replaced by a vibrant bull run in the opposite direction (up!), many analysts who chided the ongoing rise in the mining stocks and metals that started in December 2015 are begrudgingly changing their "outlook" so they don't get left behind.

July 6: Gold and Silver Gain Again While Stocks Bounce Back From Morning Losses

Gold gained $19.18 to $1374.78 in London before it pared back to $1361.11 in midafternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.62%. Silver rose to as high as $20.474 and ended with a gain of 0.7%.

The Deepening Fraud of Comex Silver

While it's clear that The Banks on The Comex are desperately feeding new paper contracts to The Specs in an effort to contain/restrain the gold price, at least there has been a coincident rise in the physical collateral backing the paper contracts. In silver, where the situation is equally tenuous, The Banks are issuing new paper contracts without conjuring up any additional physical collateral. The Banks are simply adding additional leverage to an already-teetering system and, in doing so, have extended their potential delivery liability to 120% of total global mine supply. (Actually, if you take out China's 150,000,000 ounces of annual production that's NOT for sale, total global silver production falls to 730,000,000 ounces and the liability rises to 145%!)

Fortuna Commissions 3,000 tpd Mill Expansion On-Time and Under-Budget at the San Jose Mine, Mexico

Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to announce that commissioning activities on the expansion of the San Jose Mine from 2,000 tpd to 3,000 tpd have concluded successfully on-time and under-budget. As of the first of July, the processing plant and mine are fully operational at 3,000 tpd; allowing for an annual production rate of 7-8 million ounces of silver and 50-53 thousand ounces of gold. The capital expenditure of the plant expansion was US$27.5 million, 16% below budget.

Silver Market Morning: July-06-2016 -- The U.S. is driving gold and silver prices higher today!

With HSBC knowing it had to buy over 30 tonnes of gold in London after New York’s purchases of SPDR and Gold Trust shares, to supply the U.S. gold ETFs, it would be expected that the bank would take short-term positions in Shanghai to that extent. Once London opened they would then find the gold and take it off London’s market, then sell its Shanghai position after the price rise, taking a turn in Shanghai.

July 5: Gold and Silver Gain About 1% While Stocks Drop

Gold gained $11.43 to $1355.13 in Asia on Monday before it fell back to $1341.35 at about 2AM EST today, but it then climbed to as high as $1356.88 in New York and ended with a gain of 0.89% from Friday’s close. Silver soared to as high as $21.096 at the open of trade on Monday before it fell to as low as $19.598 in London today, but it then bounced back to $20.061 in early New York trade and ended with a gain of 1.27% from Friday’s close.

Commodities: Silver Skyrockets Post-Brexit, Energy is Back!

While commodity performance in Q1 was promising, it was mainly precious metals and zinc that buoyed everything else. Energy and base metals were relatively flat on the quarter, with uranium and natural gas having the biggest declines. However, the game changed considerably in Q2. We now live in a post-Brexit world, where the real risk of further contagion in Europe is prompting investors to seek insurance policies. Silver is hovering near the $20 mark, which makes it the best performing commodity of the first half of 2016 with a 43.6% return.

Silver Will Move Much Higher And Faster Than Most People Think

Historically, the silver price has a tendency to decline and rise way more and faster than most people expect. The recent 5-year decline is a good example of a decline that went lower than expected. There are good reasons for this, but we often miss it due to our focus on the now instead of the bigger picture.

Silver Market Morning: July-05-2016 -- Holiday over, U.S. will drive gold and silver prices!

Shanghai pulled the gold price back ahead of New York’s re-entry after Independence Day to a level not far from the close of last Thursday. We do expect a ‘shunt’ effect in New York as the three global gold markets return to a common view on the gold price. We expect the view that caused New York to take gold and silver prices higher on Friday, ahead of the long weekend; will return to move prices up today.

Why Are Investors Flocking to Silver?

Ric Spooner, chief market analyst at CMC Markets, discusses the rise in silver, if the rally is sustainable and the rate decision from the RBA. He speaks to Bloomberg's Angie Lau on "Trending Business." (Source: Bloomberg)

Silver OMG

On Wednesday through Friday, the price of silver spiked massively. It ended the week about $2 higher than the previous week. The last time we recall silver price action like this was about 3 years ago, in August 2013. That one week, the price rose about $2.50. Before that was a week in August 2012, with a price gain of about $2.70. Previously, January 2012, +$2.50. Earlier was Oct 2011, +$4. The biggest was in April 2011, +$4.20. Looking beyond this week, the whole of year 2016 looks like a parabola to us.

Wrapping Up July Comex Silver Deliveries

Again, I can't overstate how unusual this is and how different it is from the norm. In a "normal" month where total deliveries came in at 85%, we would have seen about 2,300 total deliveries. Instead, we saw 3,637. Therefore, we're left to conclude that and additional 1,300 contracts were demanded for immediate delivery in July. This means that someone or something funded their account with 100% margin, jumped the "queue" and demanded immediate delivery of 6,500,000 ounces of silver. At prices ranging around $15/ounce, that's nearly $100,000,000.

The Silver Manipulation Con Continues at the Highest Levels of Government

The US Mint is not a very good liar. They are manipulating their sales data to stifle silver investor sentiment. My fight with the US Mint goes back 7 years. I wrote them in June 2008 to point out that stopping production of the US Silver Eagles was AGAINST THE LAW because the law required them to produce SAE's "in quantities sufficient to meet public demand." Since that time, and through my continual pestering over the years, they CHANGED THE LAW to make the US Treasury Secretary the one who decides if the coins are being produced to meet demand and only he has the power to stop or limit production.

Investment Silver Demand Draining COMEX Vaults

If there are words to characterize the precious metals markets for July, it would be “divergences” and “shortages.” There was heavy selling in the leveraged futures market and extraordinary buying demand and shortages in physical coins, rounds, and bars.

Leaving the Information Grid

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

Silver and Gold: The Triumph of Experience over Hope

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

The EPA's Polluted River

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

Desolation Row: the Silver Market

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

Silver Cycle Low - Now

The price of silver has been crushed during the last four years. Prices are ready to reverse. We will know soon enough after the High-Frequency-Traders have their way with prices for paper silver and gold on the CME.

China chooses her weapons

China's recent mini-devaluations had less to do with her mounting economic challenges, and more to do with a statement from the IMF on 4 August, that it was proposing to defer the decision to include the yuan in the SDR until next October.

August 21: Gold Gains Almost 4% on the Week While Stocks Drop Roughly 6%

Gold gained $15.42 to $1167.42 in Asia before it fell all the way back to $1149.00 in London, but it then rose to as high as $1161.67 in New York and ended with a gain of 0.64%. Silver slipped to as low as $15.14 and ended with a loss of 1.29%.

Silver And The Petrodollar

Many have mistakenly dismissed silver as just another commodity like oil, for example. If one looks at how silver has traded since 2001, in comparison with oil, one might agree with that mistaken believe. During the same periods, both goods traded higher or lower, together. For example, from 2001 to 2008, both silver and oil rose significantly. During those seven years, silver increased more than four times in value while oil rose more than seven times.

Gold and Silver: Heading for a “Blue Screen of Death” Event?

For personal computer users who by choice or circumstance, find themselves using a version of the Microsoft Windows operating software family, a dreaded condition known as the “Blue Screen of Death” (BSoD) is a seldom occurring, yet ever-present possibility. Wikipedia defines it as being caused by poorly written device drivers or malfunctioning hardware, such as faulty memory, power supply issues, overheating of components or hardware running beyond its specification limits.

The Risky Investment that Could Make You Millions in the Next Financial Crisis

You wake up in the morning, turn on the news, and get a sick feeling in your stomach… The stock market is crashing again. Another big Wall Street bank has failed. Your 401(k) has lost another 25%. It’s bleeding value every week. Your dream of early retirement is history. You’ve lost so much money in stocks that even a "regular" retirement is in jeopardy. If you live a long life, there’s no way you’ll have enough money.

Yes, Gold is a Barbarous Relic...SO SWAP IT ALL FOR SILVER!

I know that you have a few gold coins in your safe. I know you think it's good for your diversification but NOW is the time to think differently. Now is not the time for diversification. Now is the time to SAVE your wealth and gold doubling or tripling over the next few years is NOT going to save you.

Silver Market Morning

On Friday New York closed at $1,134.40 up $10.30. The dollar was stronger at $1.1335 at the close up from $1.1496, against the euro, with the dollar Index stronger at 96.07 up from Friday’s 95.19. Because of the Bank Holiday in the U.K. no LBMA gold price was set today. Ahead of New York’s opening, gold was trading at $1,132.80 and in the euro at €1,010.80.

The danger of eliminating cash

In the early days of central banking, one primary objective of the new system was to take ownership of the public's gold, so that in a crisis the public would be unable to withdraw it.

Silver and S.M.S.

Silver prices have been crushed for over 4 years, especially in the paper futures markets. The predictable result has been reduced interest in real money – silver and gold. The media is more focused on Donald Trump, Caitlyn Jenner, and Hillary’s emails – not the reality of exponentially increasing debt, out-of-control spending, failed economic policies, and expensive wars.

You think premiums are big now???

Premiums on silver over the past weeks have exploded! Generally speaking, 10-25%+ seems to be the norm and anywhere from two - six weeks delay for delivery. We have talked about the dichotomy between silver being panic "sold" and "shortages" occurring simultaneously. In a free market, this is an impossibility.

Silver Market Morning

On Friday New York closed at $1,122.10 down $3.30. The dollar was weaker at $1.1162 down from $1.1142 at the close, against the euro, with the dollar Index slightly weaker at 96.28 down from 96.34. The LBMA gold price was set at $1,121.00 down $4.00 from Friday. The euro equivalent was €1,004.21 down €5.80. At 12.00 hrs London time, gold was trading at $1,121.00 and in the euro at €1,005.52.

Silver and Deflation

How does silver perform during deflation? Which is better during a deflation – silver or gold? The answers will depend on quite a few things as well as what definition of deflation one uses.

The Massive Debt Bubble Will Push Silver Prices Much Higher

Silver had a spectacular rise in price from about August 2010 to April 2011. In fact, it was so impressive that some thought the peak was the end of the bull market for silver. After all, silver had risen about 12.33 times from its bottom in 2001.

Why Silver Premiums Are so High Right Now and How One Might Take Advantage of It?

In this article, I will explain first how and why silver bullion premiums have aggressively increased since the middle of summer 2015 AND how and what I am doing to take advantage of the current premiums via a bullion form sell and buy arbitrage.

Silver: Victim of Motive, Means, and Opportunity

Silver gets little respect, but that is sensible in a world dominated by paper assets and pretend values. Similar to a murder investigation, let’s examine the motive, means and opportunity used to “manage” silver prices.

Silver Market Morning: Sept-29-2015

What we are seeing now is a set of global markets fearful of a breakdown in prices. As prices fall, not just in commodities, but equity markets, we become very aware of the massive levels of debt that is sitting in the hands of individuals, corporates, governments’ et al. Because of this we see occasional collapses of value as this becomes recognized. Glencore, the mining giant and broker has seen its share prices buckle in Australia today. With debt twice the level of its market capitalization, their situation well expresses the fears sensitizing the markets at all levels. The commodities sector does not look as though it is going to recover for a very long time. This includes U.S. oil companies trying to persuade their regulators that their debt levels are sustainable as oil prices could fall further.

Silver-coin shortage shows bright side of precious metal collapse

The global silver-coin market is in the grips of an unprecedented supply squeeze, forcing some mints to ration sales and step up overtime while sending U.S. buyers racing abroad to fulfill a sudden surge in demand.

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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