• Gold: 1,269.48 -15.43
  • Silver: 17.48 -0.50
  • Euro: 1.131 0.002
  • USDX: 88.279 0.638
  • Oil: 44.44 0.1

January 28: Gold and Silver Fall With Stocks and Oil

15 hours 3 min ago

Gold dipped $8.60 to $1286.10 in late Asian trade before it bounced back to $1292.82 in London and then dropped to a new session low of $1280.35 about 20 minutes after the release of today’s fed statement, but it then chopped back higher into the close and ended with a loss of just 0.76%. Silver slipped to $17.931 in Asia, but it then rose to as high as $18.14 in New York and ended with a loss of just 0.55%.

Gold & Silver Trading Alert: Dollar Soars to New Highs

The back-and-forth trading in the USD Index ended as it pierced through the short-term resistance and also above this year’s high. As we have emphasized many times previously, the U.S. currency is after long-, medium- and short-term breakouts so the surprises should be to the upside.

Kill Switch?

I have written several times regarding the size of COMEX futures going into delivery periods. It is time to do this again with silver. The September delivery month has 65,000 contracts still open. This represents 325 million ounces of silver. The "registered" category at COMEX now has just over 60 million ounces available for deliver. If you tally up the entire inventory, this is roughly 175 million ounces.

Silver Market Morning

The gold price closed at $1,295.90 down $3.00 on Tuesday’s level in New York. In Asia and early London, gold prices held that level. The gold price was Fixed at $1,294.50 down $5.75 and in the euro at €973.748 up €0.497, while the euro was weaker at $1.3294. Ahead of New York’s opening, gold was trading at $1,294.60 and in the euro at €974.67.

August 19: Gold and Silver End Slightly Lower

Gold saw slight gains in Asia before it fell back to $1293.89 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.23%. Silver slipped to as low as $19.388 and ended with a loss of 0.97%.

On the Death of Newspapering

A friend sidled up to me the other day and said his daughter wanted to get a journalism degree and become a newspaper reporter. My response was that he should just loan her his Smith & Wesson. The consequences would be the same and she wouldn't be stuck with all that college loan debt.

Silver Market Morning

The gold price closed at $1,298.90 down $5.20 on Monday’s level in New York. In Asia and early London, gold prices hugged the $1,300 level. The gold price was Fixed at $1,300.25 down $2.50 and in the euro at €973.251 up €0.323, while the euro was weaker at $1.3360. Ahead of New York’s opening, gold was trading at $1,300.50 and in the euro at €974.12.

Why You Should Buy Silver Before It’s Too Late

Too often silver falls in the shadow of its flashy, favored cousin gold, but the precious metal grabbed headlines last week when a 117-year-old tradition came to an end.

August 18: Gold and Silver End Mixed

Gold dropped down to $1297.38 in early Asian trade before it bounced back to $1303.57 at about 6AM EST and then fell to a new session low of $1296.21 in the next four hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.4%. Silver slipped to as low as $19.484 in Asia, but it then climbed to as high as $19.69 in New York and ended with a gain of 0.31%.

Beware of the fall, ye paper shorters

The smoke has cleared, and still rates are at new lows (aside from Friday's spike lows) since early 2013, when the whole tapering propaganda scheme commenced. And with each passing day, the fundamental and technical strength under PMs grows stronger. All I can say is this - beware of the fall, ye paper shorters.

Silver Market Morning

The gold price closed at $1,304.10 down $8.90 on Friday in New York. In Asia, gold prices pulled back to $1,300 ahead of the opening in London. The gold price was Fixed at $1,302.75 down $10.75 and in the euro at €972.928 down €7.15, while the euro was weaker at $1.3390. Ahead of New York’s opening, gold was trading at $1,301.70 and in the euro at €971.78.

August 15: Gold and Silver Fall on the Week but Miners Gain

Gold edged up to $1315.09 at about 5:30AM EST before it dropped down to $1292.87 in the next four hours of trade and then bounced back higher in late morning trade, but it still ended with a loss of 0.68%. Silver slipped to as low as $19.519 and ended with a loss of 1.51%.

LBMA Silver Price Launches New Era in Pricing Precious Metals

CME Group, the world's leading and most diverse derivatives marketplace, and Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, have launched the new LBMA Silver Price mechanism in partnership with the London Bullion Market Association (LBMA). CME Group, Thomson Reuters and LBMA have joined forces to provide the over-the-counter spot silver market with a new transaction-based price-setting mechanism for the LBMA Silver Price that is IOSCO-compliant and fully electronic. CME Group will provide the electronic auction platform on which the price will be calculated, Thomson Reuters will be responsible for administration and governance and the LBMA will accredit price participants. The new LBMA Silver Price benchmark will be published and distributed by Thomson Reuters and will be available on the LBMA's website.

First Daily Silver Price Set After End of London Fixing

The first London silver price to replace the 117-year-old fixing ritual conducted by a few traders was set today in an attempt to make the process more transparent amid increased scrutiny of benchmarks.

117-year old London silver fix ends

Ross Norman, CEO of Sharps Pixley, discusses the implications of the end of London's Victorian era silver fix.

Silver Market Morning

The gold price closed at $1,313.00 up $1.40 on Thursday in New York. In Asia, gold prices rose slightly to $1,314.4 ahead of the opening in London. The gold price was Fixed at $1,313.50 down $1.50 and in the euro at €980.078 down €1.778, while the euro was stronger at $1.34.02. Ahead of New York’s opening, gold was trading at $1,312.40 and in the euro at €981.31.

New 'LBMA Silver Price' - Still Not Transparent

Overnight, silver and gold in singapore were flat as they were in London prior and after the new ‘LBMA silver price’. Futures trading volume has picked up and was about average for the past 100 days this morning. Gold and silver remain in very tight ranges which usually precedes a sharp move higher or lower. Given the poor economic data recently and geopolitical backdrop we expect gold and silver to break higher in the coming days as we enter the seasonal sweet spot for gold and silver.

August 14: Gold and Silver End Slightly Higher

Gold traded mostly slightly higher in Asia before it dropped back down to $1308.83 in London and then jumped up to $1318.30 in early New York trade, but it then drifted back lower into midday and ended with a gain of just 0.11%. Silver slipped to as low as $19.803 at one point, but it then bounced back higher into the close and ended with a gain of 0.4%.

It's becoming increasingly clear

The "end game" is getting so close, you can feel it. With yesterday's -6.8% Japanese GDP report, and today's negative report from Germany - much less Wal-Mart's horrific earnings guidance, it's becoming increasingly clear that global economy is collapsing. Japanese and German bond yields have fallen to record lows, and the benchmark 10-year Treasury yield is below 2.4%, as the entire world bets on the inevitability of global "QE to Infinity." NEVER have PMs been suppressed so blatantly, offering the chance of a lifetime to save yourself at prices below the cost of production!

Silver Market Morning

The gold price closed at $1,311.60 up $2.10 on Wednesday in New York. In Asia, gold prices rose slightly to $1,312 ahead of the opening in London. The gold price was Fixed at $1,315.00 up $4.00 and in the euro at €981.856 up €1.438, while the euro was stronger at $1.3393. Ahead of New York’s opening, gold was trading at $1,315.40 and in the euro at €983.48.

SilverCrest Reports Q2 2014 Financial Results

"As expected, SilverCrest's second quarter financial results reflect Santa Elena's lower production numbers during the transition from an open pit, heap leach operation to an underground mine and milling circuit. With the major milestone of mill commissioning accomplished in early August, SilverCrest's immediate focus turns to underground stope production. Expected increases in ore grades fed to the mill, combined with potential higher metal recoveries, should result in the Company achieving the lower end of our 2014 production guidance of approximately 3.3 million AgEq(2) ounces. With all major expansion capital expenditures complete, SilverCrest is now well situated to increase its cash position of $40.9 million (June 30, 2014) with near-term free cash flow from operation."

August 13: Gold and Silver End Mixed Yet Again

Gold dropped $4.76 to $1304.94 by a little after 8AM EST before it jumped up to $1314.94 in the next few hours of trade and then chopped back lower at times, but it still ended with a gain of 0.15%. Silver slipped to as low as $19.714 and ended with a loss of 0.6%.

U.S. Mint to use new silver benchmark for coin sales, purchases

The U.S. Mint said on Wednesday it will adopt the new electronic silver benchmark to be unveiled this week for its coin sales, silver purchases and price management programs following the end of the original 'silver fixing' mechanism.

Santacruz Silver Announces Appointment of Chief Operating Officer

Santacruz Silver Mining Ltd. (SCZ.V) (the "Company" or "Santacruz") is pleased to announce the appointment of Mr. Robert Byrd to the position of Chief Operating Officer of the Company effective August 11, 2014. Mr. Byrd will report directly to the President and CEO of the Company, Mr. Arturo Préstamo.

First Majestic Reports Second Quarter Financial Results

"Production in the second quarter, marking another record, increased for the ninth consecutive quarter. Costs continue to improve and remain a primary focus. The bulk of our capital intensive projects are winding down; some by design and some by choice in order to preserve cash during these challenging times."

Silver Market Morning

The gold price closed at $1,309.70 up 60 cents on Tuesday in New York. In Asia on Tuesday gold prices eased slightly to $1,307.50 ahead of the opening in London. The euro began to fall again and stood at $1.3368. The gold price was Fixed at $1,309.25 down $1.75 and in the euro at €980.418 down €2.341, while the euro was at $1.3354. Ahead of New York’s opening, gold was trading at $1,308.90 and in the euro at €979.46.

The world’s worst ‘open secret’

In my view, the manipulation (more accurately, “suppression”) of precious metal prices is the most recognized “open secret” in markets today. That is, virtually everyone who participates in the markets that set PM prices understands - takes for granted - that prices are capped and will not be allowed to rise above a certain price point.

The Silver Series: Silver as an Investment (Part 3)

Silver has had double digit gains in 7 of the last 10 years. In this infographic, we look at the investment properties of silver as well as its chief differences with gold. Highlights include a study on silver correlation, volatility, performance against the US Dollar and money supply, and portfolio diversification.

Silver Market Update

All the signs are that silver’s long correction is now over and that it is beginning a major uptrend. The Commercials have cleared out most of their short positions, for a massive profit of course, meaning that the slate is wiped clean for the game to start over anew. Public opinion and sentiment towards silver remains rotten, which is exactly what you expect to see at a major low, with the investing public at large, having been duly “educated” by the mainstream media, harboring a negative attitude to silver and if anything inclined to short it. Lastly, seasonal factors couldn’t be better – August and September are good months for gold which will have a positive influence on silver and September is traditionally the best month of the year for silver by far.

The Forces That Will Push Silver Over $100

There are tremendous forces at work that will push silver over $100 an ounce. Very few precious metal analysts understand all the forces that are at work. Some analysts focus on specific areas such as the gold-silver ratio and technical analysis, while others write about future investment and industrial demand. And then of course, we have the more unorthodox analysts who delve into the ongoing manipulation of gold and silver -- a realization shared by the author of this article.

Why Is The Future Silver Supply More at Risk than Gold?

The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system. Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome. However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner.

Silver: Supply and Demand Part 2, Investment Demand

This educational video looks at how and why people invest in silver. While economic, socio-political and psychological forces play a large part in determining the price of silver, it all comes back to the basic principles of supply and demand.

Silver – Keep It Simple!

Nixon dropped the link between the dollar and gold in 1971. Thereafter, the money supply rapidly expanded, consumer price inflation went wild, and both silver and gold increased in price by over a factor of 20 in early 1980.

US Mint to limit purchases of "America the Beautiful" silver coins

The U.S. Mint will limit dealers' purchases of its "America the Beautiful" five-ounce silver bullion coins when they go on sale next week because strong demand exceeds the mint's inventory.

Rainmaking with Silver

This method of cloud seeding has proven effective in the Snowy Mountains of Australia and the Sierra Nevada in the United States. By increasing winter snowpack in agricultural regions that experience droughts in the summer, it is possible to feed rivers for a longer period of time than if no cloud seeding was done. Check out this fascinating look at weather modification using silver as a nucleation agent for rainfall.

Silver: The Noise is Deafening!

The weak prices for silver and gold during the past three years are a correction to the massive run-up in prices from October 2008 – mid 2011. During that time silver increased from a low of $8.53 to a high of nearly $50.00. Gold increased from a low under $700 to a high over $1,900. They have been correcting since then. The correction is, I expect, over – FINALLY.

Silver's Ultimate Rally: When Paper Assets Collapse

The relationship between the Dow and silver has been very consistent during the last 100 years. After each of the major Dow peaks (real, not necessarily nominal peaks), we eventually had a major bottom in silver.

Bottoming out?

Where this leaves precious metals is yet to be seen, but it is worth bearing in mind that hedge and other funds exposed to losses in bonds and equities will likely reduce their short positions in gold and silver. And if the current weakness in bonds and equities persists, it should be positive for precious metal prices as the bears run for cover.

Why You Should Buy Silver Before It’s Too Late

Too often silver falls in the shadow of its flashy, favored cousin gold, but the precious metal grabbed headlines last week when a 117-year-old tradition came to an end.

The MOAMOPE

The advent of computer generated trading algorithms heralded a quantum leap forward in the quest for 24/7 control of markets. No longer were humans beings required to do such unseemly things as man trading desks or worry a whit if free markets were, if even infrequently, attempting to function. Algo precision has made even the blackest of black swan events seem to turn lily white in their utter non-eventfulness. No more significant Dow or bond crashes, and best of all, no gold rallies exceeding (exactly) 1.00%, or the occasional 2.00%

Ned Naylor-Leyland: Journalist can and should publish his report on silver rigging

Last week I wrote about financial journalist William Cohan's unpublished article about silver market manipulation and a regulatory cover-up. This week Cohan has claimed that lawyers for London metals trader and market-rigging whistleblower Andrew Maguire were stopping him from publishing his article.

SILVER MINER SUSPENDS SALES: 35% Of Production Due To Low Prices

The first primary silver miner in the industry just announced that it suspended sales of silver during the 3rd quarter due to the low market price of silver. First Majestic suspended sales of 35% of its Q3 silver production. This was a significant amount as it was nearly 1 million oz of its 2.7 million oz production that quarter.

Silver to S&P Ratio: What It Tells Us

Based on Friday’s upticks, last week may have been the turning point for silver prices and the silver to S&P ratio. Or perhaps the S&P will continue reaching for the sky even though QE is supposedly diminishing, while silver prices drop further below the cost of production. Both seem unlikely but we shall see.

Gold, Silver, Crude and S&P Ending Wedge Patterns

Gold and silver look like they have bottomed – again. Perhaps this time it will be a real bottom instead of another fake-out like December 2013 and June 2014. Demand is strong for physical gold and silver, but the supply of naked paper shorts on the COMEX is even larger. This will change. I see prices under $20 as a strong buy zone since I believe that $100 silver is only a few years away.

Silver To Hit New Highs As The Quality Of Analysis Falls To New Lows

The coming explosion in the value of silver will be a shock to the world due to the failure of the analyst community. I am completely amazed at the lack of quality analysis today. Except for a few good analysts, there's a sea of lousy ones who continue to put out work that becomes increasingly worthless each and every passing day.

The 'old-fashioned' gift of silver

This year for the first time I'm going to give the gift of silver as a Christmas present. Specifically, I'm going to give a couple of silver coins to my godson who is in 8th grade.

Silver Market Update

Recent action in silver has been very bullish. It barely paid lip service to the technical requirement to drop back and form a Right Shoulder to its Head-and-Shoulders bottom before breaking out of this base pattern back last Tuesday, without waiting for either gold to break out, or for the dollar to break down. When gold did actually break out on Friday, and the dollar broke down, it built on these achievements by breaking clear above the resistance near to its 50-day moving average.

Shanghai Silver Stocks Fall Nearly 50% Since April

Ever since the take-down of the price of silver in April, silver warehouse stocks have been declining in a large way at the Shanghai Futures Exchange. At the peak on April 12th, the Shanghai Futures Exchange held 1,124 tonnes of silver at its warehouses. However, just six weeks later, 360 tonnes or 32% were removed.

Silver - Pushing On A String

Little in the way of news has transpired in the past week that could have an impact on the silver market. The main stage has been set for some time, regarding all the known factors affecting silver, to date. There is no need to review any of them, at this point.

Silver Market Buy Signal – AGAIN!

For the umpteenth time (actually the 3rd since June 2012) silver has given a buy signal according to my reading of the technical indicators.

Could the Confirmation of the Breakdown in Silver be Consequential?

Investors sentiment for precious metals and gold and silver mining stocks has deteriorated quite substantially recently. And silver is no exception here, which can be seen on the white metal charts. However, the situation in the whole sector is extreme – the oversold readings on many technical indicators and the fact that very important support lines are currently in play in virtually any asset in the sector form a setup as (or even more) encouraging for potential buyers as what we saw in 2008. To see what we can expect on the silver market, let us move into today’s technical part – we will start with the white metal’s very long-term chart.

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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