• Gold: 1,307.02 -0.40
  • Silver: 20.73 -0.01
  • Euro: 1.342 -0.001
  • USDX: 81.036 0.183
  • Oil: 101.98 0.04

July 25: Gold and Silver Spike Back Friday But End Slightly Lower on the Week

10 hours 44 min ago

Gold jumped $15.80 to as high as $1308.20 in the last minutes of trade and ended with a gain of 1.16%. Silver surged to as high as $20.727 and ended with a gain of 1.82%.

Panic Mode

Now that a second, potentially cataclysmic "Crimean War" is a significant possibility - whilst "Whirlybird Janet" prepares her inaugural FOMC policy statement on Wednesday, amidst abysmal economic data (like this mornign's NAHB Housing Index), collapsing U.S. Treasury demand (foreigners sold a record $104 billion last week), and heightened currency wars (the PBOC doubled the Yuan's daily trading band this weekend), naturally the Cartel is in panic mode.

Santacruz Silver Mining Ltd. (TSXV:SCZ) Follow-Up #3

In 2014, production at Rosario is targeted to be 500 tons/day. The Company plans exploration and additional geologic evaluation, including diamond drilling on its properties, to define and expand resources to NI43-101 compliance.

Silver Market Morning

The New York gold price closed at $1,381.60 up $9.40 on Friday in New York. Asia took it up to $1,384 ahead of London’s opening. The gold price was Fixed in London at $1,379.00 up $9.00. In the euro, it Fixed at €992.372 up €5.909 as the dollar continued to weaken to $1.3896: €1. Ahead of the opening in New York gold stood at $1,378.70 and in the euro at €992.83.

Monster Silver Rally Brewing

On silver’s 1-year chart we can see that a fine large Double Bottom is completing. We already had the breakout on good volume from the 2nd trough of this Double Bottom in the middle of February, and it was this event that has (rightly) caused traders to pile into silver, although the price hasn’t moved much – yet. The better silver stocks, on the other hand, are already on fire, because the “writing is on the wall”. Right now the price is consolidating following the breakout in a fine tight Flag formation, from which upside breakout looks imminent.

March 14: Gold and Silver Gain About 3% on the Week

Gold waffled near unchanged in Asia before it jumped to as high as $1387.88 at about 9:30AM EST and then fell back to $1373.51 in the next two and a half hours of trade, but it then rallied back higher into the close and ended with a gain of 0.68%. Silver rose to as high as $21.771 and ended with a gain of 1.13%.

Precious Metals Prices To Rise As The U.S. Economy Disintegrates

As the U.S. economy continues to disintegrate, increasing numbers of investors will be forced to move out of paper assets and into physical gold and silver to protect their wealth. At first the move will be slow, but as Americans wake up from four decades of fiat monetary amnesia, it will turn into a torrent.

Whirlybird Janet

With a potentially tumultous weekend coming - let alone, next Wednesday's FOMC meeting, when "Whirlybird Janet" will be under signficant pressure to "pause" the taper - PM's have surged to their highest levels of the year. The Crimean referendum takes place Sunday, and it's a fait accompli that it will vote to secede from the Ukraine and join Russia. The U.S. has made it clear this is not acceptable, so the odds of a military confrontation are sky high.

Market Report: Gold storms through $1350

Last Monday gold ended a week-long consolidation that saw it fall from $1354 to $1329, before rising strongly to over $1370 yesterday. Not only is Asian demand still outstripping mine supply by a large margin, but physical ETFs such as GLD are now beginning to see more buyers than sellers, and so are no longer a source of supply.

Silver Market Morning

The New York gold price closed at $1,371.60 up $4.60 on Thursday in New York. Asia took it up again to $1,375 ahead of London’s opening. The gold price was Fixed in London at $1,370.00 down $1.00. In the euro, it Fixed at €986.463 up €4.16 as the dollar continued to strengthened to $1.3888 up 0.69 of a cent against the euro. Ahead of the opening in New York gold stood at $1,371.70 and in the euro at €987.37.

March 13: Gold Gains While Stocks Drop

Gold climbed $7.83 to $1374.93 in Asia before it fell back to $1364.53 in London, but it then bounced back higher in New York and ended with a gain of 0.33%. Silver edged up to $21.448 before it dropped back to $21.109 and then also rebounded, but it still ended with a loss of 0.52%.

Idaho North Resources Announces Private Placement and Central Nevada Exploration Alliance with Coeur Mining

Idaho North Resources (IDAH) (“INR” or “the Company”) today announced the completion of a private placement and the signing of a letter of intent to enter into an exploration alliance with Coeur Mining Inc. (CDE).

SilverCrest Closes $23,023,000 Prospectus Offering, Over-Allotment Option Exercised in Full

SilverCrest Mines Inc. (the "Company") (SVL.TO)(NYSE MKT:SVLC) is pleased to announce the completion of its prospectus offering announced on February 19, 2014 whereby the Company issued a total of 8,855,000 common shares at a price of $2.60 per common share for gross proceeds of $23,023,000, including exercise of the over-allotment option in full. The offering was led by Dundee Securities Ltd., and included National Bank Financial Inc., Raymond James Ltd. and PI Financial Corp. as underwriters.

Silver Market Morning

The New York gold price closed at $1,367.10 up $20.10 on Wednesday in New York. Asia took it up again to $1,375 ahead of London’s opening. The gold price was Fixed in London at $1,371.00 up $16.25. In the euro, it Fixed at €982.303 up €4.834 as the dollar continued to weaken at $1.3957. Ahead of the opening in New York gold stood at $1,369.00 and in the euro at €981.05.

March 12: Gold and Silver Gain Over 1% and 2%

Gold climbed to as high as $1370.66 by early afternoon in New York before it fell back off a bit into the close, but it still ended with a gain of 1.49%. Silver surged to as high as $21.396 and ended with a gain of 2.26%.

Silver Market Morning

The New York gold price closed at $1,347.00 up $7.10 cents on Tuesday in New York. Asia made it jump $10 ahead of London’s opening to $1,360. The gold price was Fixed in London at $1,355.75 up $7.75. In the euro, it Fixed at €977.469 up €3.903 as the dollar stood at $1.3870 slightly weaker. Ahead of the opening in New York gold stood at $1,359.00 and in the euro at €979.60.

How much longer can the game go on?

U.S. Mint Silver Eagles sales are simply going berserk, as we wrote about last week in "silver anniversary," and global gold demand has started the year even stronger than last year's record-shattering levels. Currencies are crashing, economic data plummetting, and there are real worries that China could be headed for a catastropic real estate and financing crash.

March 11: Gold Gains While Stocks Slump

Gold climbed $12.55 to $1352.45 in London before it dropped back to $1337.90 just before noon EST, but it then bounced back higher in early afternoon New York trade and ended with a gain of 0.53%. Silver rose to as high as $21.309 before it dropped back to $20.662 and then also bounced back higher, but it still ended at unchanged on the day.

Santacruz Silver Mining Closes $10,750,000 Bought Deal Common Share Financing

Santacruz Silver Mining Ltd. (TSXV:SCZ) ("Santacruz Silver" or the "Company") is pleased to announce the closing of its prospectus offering announced on February 12, 2014 (the "Offering") through a syndicate of underwriters led by Canaccord Genuity Corp. ("Canaccord") and including Raymond James Ltd. (together, the "Underwriters"). The Company issued 10,750,000 common shares (the "Common Shares") at a price of $1.00 per Common Share for gross proceeds of $10,750,000. The Underwriters received a cash fee equal to 6% of the gross proceeds of the Offering, as well as 645,000 warrants, each of which is exercisable to purchase one Common Share for a price of $1.00 for a period of 24 months. Canaccord was also issued an additional 100,000 Common Shares as a corporate finance fee.

Silver Market Morning

The New York gold price closed at $1,339.90 up 70 cents on Monday in New York. Asia saw it rise ahead of London’s opening to $1,342. The gold price was Fixed in London at $1,348.00 up $13.75. In the euro, it Fixed at €973.566 up €12.014 as the dollar stood at $1.3846 slightly stronger. Ahead of the opening in New York gold stood at $1,350.00 and in the euro at €974.66.

March 10: Gold and Silver End Near Unchanged in Mixed Trade

Gold fell almost $10 to $1329.67 in Asia before it climbed up to $1344.46 at about 11AM EST and then fell back off into the close, but it still ended with a gain of 0.05%. Silver slipped to $20.627 before it rallied back to $21.036, but it then fell back off in late trade and ended with a loss of 0.38%.

Gold & Silver Trading Alert: Silver below $21

Silver also moved lower – in fact, most decisively in the whole sector. It is now well below the 2008 high and it was the second weekly close below it. Silver is currently below the $21 level. For the bearish outlook to be confirmed (and for us to increase the size of the short position in silver), we would like to see a move below the rising long-term support lines – marked in black and grey on the above chart. They are close to where silver is now, so we may see further deterioration relatively soon.

Micro to Macro Chartology: In Support of Silver

In this Weekend Report I want to take a good hard look at silver which has been the laggard in the precious metals complex to see if there is something technically wrong. If you been following the precious metals complex for any length of time you’ll know that silver can be contrarian at times. It likes to start out slow and then once gold begins to pickup the pace then silver will play catchup. Once silver gets ready to move it can rally hard and fast catching up to gold and surpassing in on a percentage basis. So far since the December low silver is playing its game of Opossum by looking weak and not confirming the move in gold or the precious metals stocks. I think this is a deceptive look on silver right now.

Fortuna Drills 2.8 kg/t Ag and 14.5 g/t Au Over a True Thickness of 4.2 m at Trinidad North Discovery, San Jose Mine, Mexico

Fortuna Silver Mines Inc. (FVI.TO)(FSM)(FVI.TO)(F4S.F) is pleased to announce new results for step-out drilling of the Trinidad North discovery located contiguous with the San Jose mine in Oaxaca, Mexico. Assay results are included for eight drill holes completed in January and February of 2014. The results continue to confirm the extension of the Trinidad North zone with high-grade silver-gold mineralization present over wide vein widths. The results reported herein lie within a 200 meter strike extension of the Trinidad system and generally outside of the limits of the existing Inferred Resources.

Silver Market Morning

The New York gold price closed at $1,339.20 down $11.10 on Friday in New York. Asia saw it slip ahead of London’s opening to $1,332. The gold price was Fixed in London at $1,334.25 down $14.00. In the euro, it Fixed at €961.552 down €9.67 as the dollar stood at $1.3876 slightly stronger. Ahead of the opening in New York gold stood at $1,339.00 and in the euro at €965.11.

March 7: Gold and Silver End Mixed on the Week

Gold edged down to $1346.45 in Asia before it rebounded to $1352.69 at about 8:20AM EST and then dropped back to as low as $1329.28 after this morning’s jobs report was released, but it then rallied back higher in the last four and a half hours of trade and ended with a loss of just 0.82%. Silver slumped to as low $20.769 before it also rallied back higher, but is still ended with a loss of 2.7%.

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.

Important Charts on Gold & Silver Eagle Sales

After record buying of Gold Eagles during the precious metal smack-down earlier this year, sales of the official coins declined significantly in August & September. However, sales have seen a substantial turn around this past month. Sales of the Gold Eagles were only 11,500 oz in August and 13,000 oz in September. The total of these two months were only half of the total amount shown in July, which recorded 50,500 oz of Gold Eagle sales.

Silver mining company says it's helpless against market manipulation

A GATA supporter wrote the other day to the investor relations officer of a silver mining company in which he is invested to complain about the company's seeming indifference to the manipulation of the monetary metals markets. He soon received this reply...

GATA's Bill Murphy & Chris Powell call out Gold and Silver Market Manipulation Conspiracy Critics

Bill Murphy & Chris Powell go in studio to talk with Lauren Lyster on CapitalAccount.

Silver & Crude: Interesting Parallels

Crude Oil bottomed (weekly data) about 12/25/1998 at $10.75. It rose erratically for several years, hit another low on 8/24/2007 at $68.70, and then rallied dramatically to an all-time high of $147.20 on 7/11/2008. Subsequently, crude collapsed to $35.35 on 12/26/2008.

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.

Site Visit: Santa Elena Mine, SilverCrest Mines Inc.

SilverCrest Mines Inc. (TSX-V: SVL | OTCQX: STVZF) is a Vancouver based precious metals producer and mine development company who is rapidly advancing several projects in northern Mexico. The company has grown their flagship Santa Elena Mine in Sonora from an exploration project into a producing mine, drilled out a significant resource at their nearby Cruz de Mayo property, and recently announced a large silver equivalent (Ag, Au, Cu) resource at their La Joya deposit in Durango.

Silver Bull Market 10 Year Review

Silver to Gold Ratio Today: 54:1 Silver to Gold Ratio Ten Years ago: 80:1 Silver to Gold Ratio for over 200 years: 15:1 Silver to Gold Ratio expected in the future: 10:1 or even 5:1

Silver – QE4ever, POMO4ever, Nevermore4ever

The central bankers have no rudder, adrift in a sea of fiat, taking everybody with them. Witness Cyprus and Greece being forced to walk the plank. Those who choose to stay on this Ship of Fools will suffer the same fate, even worse as the growing panic emboldens banker reactions.

Silver Market Update

The reason for posting a new Silver Market update at this juncture is that we appear to be at an optimum “buy spot”, for gold, silver and Precious Metals ETFs and stocks, as both gold and silver have dropped back in recent weeks to mark out the Right Shoulder low of what is believed to be a large Head-and-Shoulders bottom.

Micro to Macro Chartology: In Support of Silver

In this Weekend Report I want to take a good hard look at silver which has been the laggard in the precious metals complex to see if there is something technically wrong. If you been following the precious metals complex for any length of time you’ll know that silver can be contrarian at times. It likes to start out slow and then once gold begins to pickup the pace then silver will play catchup. Once silver gets ready to move it can rally hard and fast catching up to gold and surpassing in on a percentage basis. So far since the December low silver is playing its game of Opossum by looking weak and not confirming the move in gold or the precious metals stocks. I think this is a deceptive look on silver right now.

The Coming Paradigm Shift in Silver

...

Silver: Supply and Demand

Ever wonder how supply and demand affects the price of silver? It's not as simple as you may think. This educational video explores the economics of silver and its various uses for industrial demand.

Silver Update

The silver chart has formed a big pennant like that of the gold chart. What this indicates is that the silver price will likely make a massive move soon. Technically, this move can be up or down. Note that this update is from my premium service originally published on 6 August 2012.

6 Myths of Inflation

1. As the currency goes down, everything else goes up at roughly the same rate. Not true. 2. The law today will be the law tomorrow during hyperinflation. Not true. 3. I'll be able to ride it out here in the back woods of Colorado or Alabama during hyperinflation. Maybe, and maybe not. 4. There is no risk of inflation when the bigger risk is deflation. Not true. 5. The dollar will not go down in value, because everyone who owes dollars has a short position on the dollar that must be covered. Not true. 6. The amount of currency must expand to have an expanding economy. Not true.

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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