• Gold: 1,284.47 0.01%
  • Silver: 19.43 0.03%
  • Euro: 1.38 0.02%
  • USDX: 79.86 -0.04%
  • Oil: 101.51 -0.3%

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

2 hours 57 min ago

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%.

Silver Market Morning

Last night and in Asia, the gold price rose, despite its pointing down on the charts. It was at $1,253 in Asia ahead of London’s opening ahead of the Fix where it was set at $1,250.75 up $19. In the euro it Fixed at €923.881 up 11.924 reversing yesterday’s fall. Ahead of New York’s opening the euro stood at $1.3512: €1 with gold at $1,252.55 and in the euro at €924.35.

November 25: Gold and Silver Close Higher After Overnight Losses

Gold fell $15.56 to $1227.64 at about 8:30AM EST, but it then climbed to as high as $1252.47 in afternoon New York trade and ended with a gain of 0.45%. Silver surged to as high as $20.082 and ended with a gain of 0.25%.

Step-out drilling extends high-grade mineralization at Fortuna Silver's Trinidad North discovery

Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI.TO) (F4S.F) is pleased to announce assay results for the initial step-out drilling of the Trinidad North discovery located adjacent to the San Jose Mine in Oaxaca, Mexico. Three drill holes have been completed to-date with assay results currently being available for the first two drill holes, representing step-outs of approximately 80 and 150 meters from prior drill holes.

Silver Market Morning

This issue is the first since 15th and so is a weekly report. On Friday gold closed weaker at $1,243.20 down $44.50 on the previous Friday in New York. Asia let it slide another $12.10 cents before London held it there ahead of the Fix where it was set at $1,231.75 down $50 on a week ago in London. In the euro it Fixed at €911.957 down €41.442 on a week ago. Ahead of New York’s opening the euro stood at $1.3512: €1 with gold at $1,231.40 and in the euro at €911.34.

November 22: Gold and Silver Fall About 4% on the Week

Gold fell to $1241.19 in London before it rallied back to $1248.97 in morning New York trade, but it then fell back off into the close and ended unchanged on the day. Silver slipped to as low as $19.827 in the last hour of trade and ended with a loss of 0.6%.

Why gold and silver are having a tough time

Ben Bernanke provided some clarity to the recent confusion surrounding the Fed’s QE stimulus program. He indicated on Tuesday that the near-zero Fed Funds rate will likely remain at that level long after ending asset purchases under quantitative easing (QE). This satisfied Wall Street and provided much relief, allowing a mini-rally to transpire in equities but providing additional selling pressure for gold and silver.

November 21: Gold and Silver End Mixed

Gold edged up to $1250.34 in London before it fell back to $1236.74 at about 10AM EST and then bounced back higher midday, but it still ended with a loss of 0.12%. Silver climbed to $20.055 at about 4:45AM EST before it fell back to $19.732 in the five hours of trade, but it then rallied back higher in New York and ended with a gain of 0.71%.

It can only end in spectacular failure

Well, another FOMC minutes publication, another Cartel attack. Clearly, the world order is being shaken to its core; as between the relentless PM price suppression and the runaway stock bubble, the Fed has created historical anomalies that can only end in spectacular failure. Today, China announced its intention to start pricing oil contracts in Yuan, while the PBOC stated it no longer wants to acquire foreign exachange reserves. Gee, I wonder what they'll do with their incoming reserves - especially as last month they had a RECORD surplus with the U.S.

November 20: Gold and Silver Fall Over 2%

Gold fell $17.08 to $1256.32 at about 10AM EST before it bounced back higher midday, but it then fell to a new session low of $1241.11 following the release on minutes from the last fed meeting and the yellow metal ended today’s session with a loss of 2.25%. Silver slipped to as low as $19.793 and ended with a loss of 2.31%.

Is Silver Likely to Decline from Here?

Looking at the chart of silver from today’s point of view, we see that at the end of the previous week, the white metal (similarly to gold) moved higher after Federal Reserve Chair Nominee Janet Yellen told that monetary stimulus tools shouldn't be removed too soon. If you recall, several days ago we wrote that gold could move higher but that that would just be a counter trend move and would likely be followed by further declines.

Silver Fundamentals from an Historian’s Perspective

Ryan Jordan, Ph.D. is a professional historian, author and college professor. He is the author of “Silver – The Peoples Metal” which I highly recommend. He sees silver fundamentals from the perspective of a historian and as an astute observer of present conditions. He studies the drivers of the silver market, supply, demand, mining, inflation, investment sentiment, central bank bond monetization policies, and politics.

November 19: Gold and Silver End Slightly Lower

Gold dipped $4.55 to $1269.15 by a little after 6AM EST before it climbed to as high as $1278.76 in morning New York trade, but it then dropped back off midday and ended with a loss of 0.02%. Silver slipped to $20.219 before it bounced back to $20.493, but it then fell back off in late trade and ended with a loss of 0.44%.

Something's got to give - and soon!

As it turns out, the third quarter has seen the largest amount of negative earnings guidance in recorded history; as exemplified by the consistent warnings that the 2013 holiday spending season will be the worst since 2008-09. Janet Yellen was even more dovish in her comments this morning than last week; and each day, new "rumors" of additional Japanese and ECB QE programs are floated. The disparity between the performace of stocks and PMs since QE started a year ago is becoming historic; which is probably why COMEX registered inventories are down to a record low 587,000 ounces.

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.

November 18: Gold and Silver Fall Over 1%

Gold fell $17.50 to $1270.30 in early afternoon New York trade before it bounced back higher, but it still ended with a loss of 1.09%. Silver slipped to as low as $20.317 and ended with a loss of 1.64%.

Little-Known Facts About The Importance of Silver in Technology

Learn the important role this super precious metal plays in technology, health care and medicine. Read how our lives are better today, and will continue to be, because of the precious metal silver.

Underground Silver Revenue-Virginius Mine Accident Claims Lives in Colorado

An accident at the Revenue Virginius silver-mine in Ouray County, Colorado on Sunday (7:20 a.m.) has claimed the lives of two miners while twenty were injured in an explosives accident involving carbon monoxide.

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.

The “Deed” is Done

Well, the “deed” is done; and boy was it EVIL. Cyprus’ new President completely circumvented its disapproving Parliament, allowing the “troika” to steal 40%-100% of Cypriot depositors’ funds (over €100,000) without a vote; simply by “rewording” the deal to no longer call it a “tax.”

Am I the only person who thinks inflation is here right now?

Well, I’m perplexed and befuddled. For a couple years now I’ve been reading economic news stories like the above where it is seemingly “accepted” by the mainstream media that the rate of inflation is “low” and contained, and, as this blurb indicates, even alarmingly so. But I don’t get it. Inflation, to me, is high and going even higher. I base this opinion on the prices of things (goods and services) that I actually buy.

Silver ‘$100 Within Two Years’

Alex: So you think $100 silver is realistic in the next year or two? Eric: Well I think obviously with gold at $1600, I would believe that silver should be at a hundred. Does it happen in one to two years? Maybe not, but I would certainly say in two to five years it happens. And that’s just with gold staying still!

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.

$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."

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