• Gold: 1,321.73 4.60
  • Silver: 18.78 0.52
  • Euro: 1.109 -0.001
  • USDX: 96.048 0.279
  • Oil: 48.46 -1.12

Silver Market Morning: June-30-2016 -- more money printing across the world lies ahead!

6 hours 19 min ago

The amazement that Britain voted for the exit from the E.U. continues with anger showing itself in Europe. It is clear that a recession is looming in the U.K. and may well do so in the E.U., while low growth in the U.S. may start to weaken further. All were so convinced that Britain would vote to remain in the E.U. that it seems no plans were made for the exit. Politicians now realize they completely misread the voters [who like politicians, were voting for their own interests - halting immigration seems to have been the main concern]. Much as politicians want to turn back, that’s not on the agenda. The scene of the world is changing and becoming more violent, poorer [at consumer level] while globally Diasporas are growing and increasing in intensity. Politicians from the U.S. to the U.K. and Europe don’t seem to have understood the implications, so creating uncertainty. This leaves the establishment trying to protect their economies at the expense of their currencies. It is this that will continue to their losing value against gold and silver.

Silver Market Morning: Jan-18-2016

The New York gold price closed Friday at $1,089.10 up from $1,076.90. In Asia on Monday, it was moved down to $1,088.25 and London held slightly higher until it was set by the LBMA at $1,090.45 with the dollar index almost the same at 99.03 up from 98.97 on Friday. The euro was at $1.0891 down from $1.0897 against the dollar. The gold price in the euro was set at €1,001.24 up from €992.29. Ahead of New York’s opening, the gold price was trading at $1,090.00 and in the euro at €1,000.83.

January 15: Gold Falls Over 1% on the Week While Dow Drops Over 2%

Gold gained $20.33 to $1097.23 at about 9AM EST before it chopped back lower at times, but it still ended with a gain of 1.04%. Silver rose to as high as $14.128 and ended with a gain of 0.43%.

Silver Market Morning: Jan-15-2016

The New York gold price closed Monday at $1,076.90 down from $1,094.60. In Asia it was moved down to $1,083.00 and London held it just below that with the LBMA price set at $1081.1 down from $1,090.75 with the dollar index almost the same at 98.97 from 98.94 on Thursday. The euro was at $1.0897 up from $1.0883 against the dollar. The gold price in the euro was set at €992.29 down from €1,002.25. Ahead of New York’s opening, the gold price was trading at $1,081.15 and in the euro at €992.29.

January 14: Gold and Silver Fall Roughly 2%

Gold fell $23.16 to $1071.44 by early afternoon in New York before it bounced back higher into the close, but it still ended with a loss of 1.62%. Silver slipped to as low as and ended with a loss of 2.19%.

Fortuna Reports 2015 Production of 9 Million Silver Equivalent Ounces and Issues Guidance for 2016

Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to announce 2015 production figures from its two underground operating silver mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 6.6 million ounces of silver and 39.7 thousand ounces of gold or 9 million Ag Eq* ounces.

Silver Market Morning: Jan-14-2016

The New York gold price closed Monday at $1,094.60 up from $1,089.60. In Asia it was moved down to $1,090.45 and London held it there and the LBMA price was set at $1090.75 up from $1,081.80 down with the dollar index lower at 98.94 up from 99.25 on Wednesday. The euro was at $1.0883 up from $1.0817 against the dollar. The gold price in the euro was set at €1,002.25 up from €1,000.09. Ahead of New York’s opening, the gold price was trading at $1,085.75 and in the euro at €997.38.

January 13: Gold and Silver Gain While Stocks Drop 3%

Gold fell almost $10 to $1079.87 in Asia, but it then rallied back higher in New York and ended near its late session high of $1095.23 with a gain of 0.46%. Silver rose to as high as $14.201 and ended with a gain of 2.46%.

The Chinese Silver Fox...

I recently had a long and very interesting conversation with John Embry of Sprott Resources. It is always good to speak with him as I consider him one of the five sharpest economic/precious metals minds I know of and certainly value his opinion. John's name came up a couple of days ago when someone asked "where is all this silver coming from" to meet the outsized physical demand? I said "this is the number one question John Embry and Eric Sprott have been asking for about a year now".

Silver Market Morning: Jan-13-2016

The New York gold price closed Monday at $1,089.60 down from $1,095.00. In Asia it was moved down to $1,081.5 but London held it there and the LBMA price was set at $1,081.80 down from $1,094.85 with the dollar index higher at 99.25 up from 98.94 on Tuesday. The euro was at $1.0817 down from $1.0856 against the dollar. The gold price in the euro was set at €1,000.09 down from €1,008.52. Ahead of New York’s opening, the gold price was trading at $1,082.55 and in the euro at €1,000.51.

January 12: Gold and Silver Pare Early Losses

Gold fell $11.22 to $1083.78 by a little before 10AM EST before it bounced back higher at times, but it still ended with a loss of 0.49%. Silver slipped to as low as $13.75 and ended with a loss of 0.51%.

Silver, Silliness, Gold and Risk

Silver thrives, paper dies! That mantra will serve us well in 2016 and 2017 since paper silver prices are currently very low compared to ratios to the US national debt, the S&P 500 Index, total global debt, fiscal and monetary silliness, and political stupidity (graphs not shown). If risk has been mispriced because the “risk pricing mechanism is broken” as Michael Burry says, then we should expect a volatile and traumatic year in 2016 as risk pricing adjusts.

Silver Market Morning: Jan-12-2016

The New York gold price closed Monday at $1,095.00 down from $1,102.50. In Asia it was moved to $1,095.2 but London held it there and the LBMA price was set at $1,094.85 down from $1,104.70 with the dollar index higher at 98.94 up from 98.52 on Monday. The euro was at $1.0856 down from $1.0895 up against the dollar. The gold price in the euro was set at €1,008.52 down from €1,013.95. Ahead of New York’s opening, the gold price was trading at $1,092.70 and in the euro at €1,006.31.

January 11: Gold and Silver Fall Modestly

Gold saw decent gains for most of trade in Asia, but it then chopped back lower in London and New York and ended near its late session low of $1094.43 with a loss of 0.68%. Silver slipped to as low as $13.839 and ended with a loss of 0.36%.

Silver Flash in the Pan, Report 10 Jan, 2016

The price of silver gained only 9 cents, so the gold-silver ratio moved up sharply to over 79. Another call we have been making is for a rising ratio. So what did happen in silver fundamentals on Thursday? Or indeed the whole week for both metals? Read on for the only true look at the supply and demand of gold and silver…

Silver Market Morning: Jan-11-2016

The New York gold price closed Friday at $1,102.50 down from $1,109.30. In Asia it was moved to $1,104 but London pulled it back to $1,100 but the LBMA price was set at $1,104.70 up from $1,097.45 with the dollar index lower at 98.52 down from 98.82 on Friday. The euro was at $1.0895 up from $1.0882 against the dollar. The gold price in the euro was set at €1,013.95 up from €1,010.12. Ahead of New York’s opening, the gold price was trading at $1,103.15 and in the euro at €1,012.25.

January 8: Gold Gains 4% on the Week While Dow Drops Over 6%

Gold dropped down to $1095.89 after the release of this morning’s jobs data before it bounced back to $1105.06 by late morning in New York and then drifted back lower again in early afternoon trade, but then edged back higher in late trade and ended with a loss of just 0.61%. Silver slipped to as low as $13.886 and ended with a loss of 2.59%.

Silver and SPX Similarities - Tops and Bottoms

Tops occurred about every seven years. Tops were usually rounded, followed by intense drops. Tops were approximately Aug. 1987, Jan. 1994, March 2000, Oct. 2007, and May 2015. Once the S&P broke below the red up-trending support lines in 2000, 2007, and (probably) in 2015, the rally was over and large corrections occurred. The next large move in the S&P looks like it should be, based on history, a substantial correction to the 600 – 1,400 range.

Silver Market Morning: Jan-8-2016

The New York gold price closed Monday at $1,109.30 up from $1,093.50 In Asia it was moved down to $1,100 but in London it slipped back slightly where the LBMA price was set at $1,097.45 up from $1,096.00 with the dollar index a tad higher at 98.82 up from 98.72 yesterday. The euro was at $1.0882 up from $1.0863 against the dollar. The gold price in the euro was set at €1,010.12 up from €1,010.23 as the euro steadied. Ahead of New York’s opening, the gold price was trading at $1,099.00 and in the euro at €1,011.65.

January 7: Gold and Silver Gain Almost 2% While Dow Drops Over 2%

Gold climbed higher throughout most of world trade and ended near its late session high of $1109.90 with a gain of 1.44%. Silver surged to as high as $14.373 and ended with a gain of 2%.

Silver Market Morning: Jan-7-2016

The New York gold price closed Monday at $1,093.50 up from $1,078.50. In Asia it moved up to $1,099.35 but in London it held back slightly where the LBMA price was set at $1,096.00 up from $1,083.85 with the dollar index lower at 98.72 down from 99.42 yesterday. The euro was at $1.0863 up from $1.0741 against the dollar. The gold price in the euro was set at €1,010.23 up from €1,009.03 as the euro recovered. Ahead of New York’s opening, the gold price was trading at $1,102.45 and in the euro at €1,014.07.

Perth Mint Silver Coins Sales Surge 56%, Gold Sales Drop 16% In 2015

The Perth Mint’s gold sales rose in December from the prior month, but annual sales slid by nearly a fifth in 2015. Gold sales in December rose to 40,096 ounces from 31,664 ounces in November, the mint said on its website on Wednesday as reported by Reuters. While gold sales rose in December from the prior month, but annual gold sales slid by nearly a fifth in 2015. Sales slid 16 percent for the year, after dropping by a third in 2014.

January 6: Gold Gains Over 1% While Dow Drops Over 1%

Gold climbed higher throughout most of world trade and ended near its midafternoon high of $1094.89 with a gain of 1.39%. Silver rose to as high as $14.127 and ended with a gain of 0.21%.

Silver Market Morning: Jan-6-2016

The New York gold price closed Monday at $1.078.50. In Asia it held there but in London it broke higher to see the LBMA price set at $1,083.85 up from yesterday’s $1,078.00 with the dollar index higher at 99.42 up from 98.94 yesterday. The euro was at $1.0741 down from $1.0902 against the dollar. The gold price in the euro was set at €1,009.03 up from €1,001.86 as the euro continued weakening. Ahead of New York’s opening, the gold price was trading at $1,086.25 and in the euro at €1,011.08.

January 5: Gold and Silver See Decent Gains

Gold gained $6.80 to $1081.80 in London before it fell back to $1075.28 at about 9AM EST, but it then chopped back higher into the close and ended with a gain of 0.33%. Silver rose to as high as $14.072 and ended with a gain of 0.94%.

Silver Rides a Runaway Expense Train

The US government will spend nearly $4 Trillion this fiscal year – starting last October 1. Of course it projects a massive deficit, increasing national debt, uses “funny” accounting, and does not address unfunded liabilities. Business as usual… Examine the last 100 years of US government expenditures and national debt – on a log scale in $ millions. Note that official government expenses have increased from about $750 million to about $4 Trillion, an increase by a factor of over 5,000.

Upticks in Silver Demand Seen in First Half of 2015

Through the first half of this year, silver experienced increased demand for jewelry and important industrial applications, two signals of demand growth for this most versatile of metals.

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.

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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