• Gold: 1,197.14 -1.02
  • Silver: 15.88 -0.02
  • Euro: 1.228 -0.001
  • USDX: 88.279 0.638
  • Oil: 54.66 -0.43

December 18: Gold and Silver Gain Almost 1%

6 hours 32 min ago

Gold jumped up to $1213.47 at about 5:30AM EST before it fell back towards unchanged by late morning in New York, but it then edged back higher in afternoon trade and ended with a gain of 0.77%. Silver surged to as high as $16.222 and ended with a gain of 0.89%.

SilverCrest Options Cumobabi Property

SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC) ("SilverCrest" or the "Company") is pleased to announce it has signed a five year option agreement (the "Agreement") with Evrim Resources Corp. (TSX VENTURE:EVM) ("Evrim") whereby SilverCrest can acquire a 100% interest in Evrim's Cumobabi Property in the State of Sonora, Mexico. The Cumobabi Property is in the general vicinity of the Santa Elena mine and adjacent to the Ermitaño Property which was previously optioned by the Company (see news release dated January 14, 2014).

November 17: Gold and Silver End Slightly Lower

Gold dropped $8.61 to $1182.09 at the open of trade last night before it quickly rebounded to $1194.08 and then dropped back to $1181.81 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a loss of just 0.36%. Silver slipped to as low as $16.049 and ended with a loss of 0.86%.

November 14: Gold and Silver Gain Over 1% and 3% on the Week

Gold dropped $13.52 to $1148.28 by a little after 8:30AM EST, but it then jumped to as high as $1193.50 by early afternoon in New York and ended with a gain of 2.49%. Silver surged to as high as $16.384 and ended with a gain of 4.42%.

An Open Letter to Mining Company Executives

Please accept my sincere condolences on the continuing suppression of metal prices. As a stock holder in your company, I share your concern that an unrelenting environment of depressed metal prices will inevitably cause damage to your mining company. I will not insult your intelligence by dwelling on the long term solution that you are so very well aware of (i.e., reduce mining output at low prices, both as a way to pressure prices higher, and as a way to conserve your precious in ground resource for times when prices are more favorable). Instead, I hope to suggest short term tactics that could help to restore higher prices.

Silver Market Morning

The gold price closed up at $1,161.80 up from $1,160.10 in New York on Thursday. London took it down to $1,153 ahead of the Fix. It was Fixed at $1,154 down $7.00 and in the euro at €926.312 down €4.5, while the euro stood stronger at $1.2458. The volumes of net gold traded were two sellers selling 22,000 ounces and two buyers buying 36,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,153.70 and in the euro at €926.18.

November 13: Gold and Silver End Mixed

Gold dropped $6.08 to $1154.02 in Asia before it climbed up to $1167.50 at about noon EST and then fell back off in the next couple of hours of trade, but it then bounced back higher into the close and ended with a gain of 0.15%. Silver slipped to as low as $15.572 and ended with a loss of 0.38%.

“Paper Gold” and Its Effect on the Gold Price

Gold dropped to new lows of $1,130 per ounce last week. This is surprising because it doesn’t square with the fundamentals. China and India continue to exert strong demand on gold, and interest in bullion coins remains high. I explained in my October article in The Casey Report that the Comex futures market structure allows a few big banks to supply gold to keep its price contained. I call the gold futures market the “paper gold” market because very little gold actually changes hands. $360 billion of paper gold is traded per month, but only $279 million of physical gold is delivered.

Silver Market Morning

The gold price closed down at $1,160.10 down $5.70 in New York on Wednesday. London took it down to $1,156 ahead of the Fix. It was Fixed at $1,161.00 down $2.25 and in the euro at €930.811 down €3.601, while the euro stood stronger at $1.2473. The volumes of net gold traded were two sellers selling 56,000 ounces and two buyers buying 40,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,163.20 and in the euro at €932.76.

PRIMARY SILVER MINERS: Losing Nearly $3.00 For Every Ounce Of Production

With more than half of the primary silver miners financial results for the third quarter finally out, the group is now losing nearly $3.00 an ounce at the current market price of silver. We can thank the Fed and Bullion Banks for rigging the paper silver price well below the estimated average break-even for the primary silver miners.

SilverCrest Reports Q3 2014 Financial Results

SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC) (the "Company" or "SilverCrest") is pleased to announce its financial results for the third quarter ended September 30, 2014. All financial information is prepared in accordance with International Financial Reporting Standards ("IFRS") and all dollar amounts are expressed in U.S. dollars unless otherwise specified.

November 12: Gold and Silver End Slightly Lower

Gold bounced between $1161.42 and $1169.72 in London before it dropped down to $1157.45 in early afternoon New York trade and then edged back higher in late trade, but it still ended with a loss of 0.49%. Silver slipped to as low as $15.569 and ended with a loss of 0.45%.

Gold loses luster as retail investors look to silver

As the price of silver bounces around four-year lows, retail investors are diving in. Money is pouring into silver exchange traded funds and silver coins, according to a report in The Wall Street Journal.

Did Silver’s Bear Market End in June?

And so here we are – approaching mid-month with a freshly printed lower-low of $15.04 in place – with the possibility of a rally higher. Yet it's still early to confirm whether “the bottom” is in for silver and “the beginning” of silver’s next leg higher is already in process, as this can only be confirmed in the rear view mirror.

First Majestic Reports Third Quarter Financial Results

The Company generated revenues of $40.8 million for the third quarter of 2014, a 39% decrease compared to the previous quarter primarily due to a temporary suspension of silver sales of approximately 934,000 silver ounces to maximize profit in response to a 19% decline in the price of silver during the quarter, and a 9% decrease in total production.

Silver Market Morning

The gold price closed down at $1,165.80 up by $16.20 in New York on Tuesday. It then moved up slightly to $1,169 before London’s opening. It was Fixed at $1,163.25 up $12.00 and in the euro at €934.412 up €6.508, while the euro stood stronger at $1.2450. The volumes of net gold traded were two sellers selling 22,000 ounces and two buyers buying 42,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,163.60 and in the euro at €934.21.

November 11: Gold and Silver Gain Over 1%

Gold waffled near unchanged in Asia and saw slight gains in London before it showed some weakness in midmorning New York trade, but it then shot back higher midday and ended near its late session high of $1172.97 with a gain of 1.43%. Silver surged to as high as $15.887 and ended with a gain of 1.16%.

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.

Silver Market Morning

The gold price closed down at $1,149.40 by $24 in New York on Monday. It then moved up slightly to $1,152.30 before London’s opening. It was then Fixed at $1,151.25 down $20.75 and in the euro at €927.904 down €10.296, while the euro stood weaker at $1.2407. The volumes of net gold traded were two sellers selling 60,000 ounces and two buyers buying 46,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,151.40 and in the euro at €927.91.

Fortuna Reports Consolidated Financial Results for the Third Quarter 2014

Fortuna Silver Mines Inc. (FSM)(FVI.TO)(FVI)(F4S.F) today reported record revenue of $46.4 million, cash generated from operations, before changes in working capital of $17.8 million and net income of $7.8 million or $0.06 per share in the third quarter of 2014.

November 10: Gold and Silver Fall Over 2% and 1%

Gold fell steadily throughout most of world trade and ended near its late session low of $1147.31 with a loss of 2.2%. Silver slipped to as low as $15.496 and ended with a loss of 1.14%.

Prices of Gold/Silver Companies to Double from Here?

Silver is down 70% from its high of $48.70 an ounce back in April of 2011. And the calls from the mainstream are for silver prices to fall farther, as the Federal Reserve has stopped printing paper money and inflation is nowhere in sight. I beg to differ.

$15 Silver? You can't have any!

Here we go again, silver has been trashed to $15! But don't fear as this "trashing" in my opinion is going to be like Custer's last stand, let me explain. Just as in past episodes, the artificially suppressed prices have brought out 1,000's of "Indians" all over the world as buyers of physical metal. I use this analogy of "Indians" because prior to this last 5 years, it was in fact consumers from India (whom are so very price sensitive) who would step up in the physical market to eat up supply if the price dropped.

Silver Market Morning

The gold price closed up $30.40 in New York on Friday. It then moved down slightly to $1,172 before London’s opening. It was then Fixed at $1,172 up $27.00 and in the euro at €938.200 up €14.813, while the euro stood stronger at $1.2492. The volumes of net gold traded were three sellers selling 50,000 ounces and one buyer buying 40,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,171.40 and in the euro at €937.91.

November 7: Gold and Silver Rally Back Higher Friday to End Mixed on the Week

Gold fell almost 1% in Asia and held near unchanged in London, but it then climbed steadily higher for most of trade in New York and ended near its last minute high of $1177.33 with a gain of 2.78%. Silver slipped to $15.06 in Asia, but it then climbed to as high as $15.79 in New York and ended with a gain of 1.88%.

Silver and Powerful Forces

For several years it seems that powerful forces have been aligned against gold and silver. What will happen to prices when some or all of those powerful forces reverse and align in favor of precious metals, for their own protection and profit?

Fortuna reports record production of 1,027,741 ounces of silver and 5,348 ounces of gold for the third quarter 2012

Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F) announces production figures for the third quarter of 2012 from its two 100% owned operating underground mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru.

COMEX Silver Inventory Update: +561,944.440 ounces

COMEX Silver Inventory Update: +561,944.440 ounces

October 17: Gold and Silver Gain While Dollar Drops

Gold climbed up to $1753.30 in Asia before it fell back to $1742.79 by a little before 10AM EST, but it then rallied back higher in the next couple of hours of trade and ended with a gain of 0.6%. Silver rose to $33.14 before it fell back to $32.847, but it then rose to a new session high of $33.255 and ended with a gain of 0.61%.

Silver Summit 10th Anniversary Gala Just Days Away

The resource investment conference, routinely described by CEOs and attendees alike as “the best silver conference in the world” will feature over 70 silver exploration, development and production companies. Panelists will address investment opportunities, and the ever-expanding uses of silver in modern society as well as its historic role as money and a store of value.

COMEX Silver Inventory Update: -547,959.940 ounces

COMEX Silver Inventory Update: -547,959.940 ounces

The History of Silver (Part 1)

Today, silver has thousands of modern industrial uses and is considered a store of wealth. However, the story of this legendary precious metal begins with its use by ancient civilizations. Silver has many attributes that made it so valuable to early peoples. It is malleable, ductile, lustrous, resilient, antibacterial, and rare. It was used to purify water and for ornate artwork – but more importantly it was perfectly suited to be a currency.

COMEX Silver Inventory Update: +482,995.220 ounces

COMEX Silver Inventory Update: +482,995.220 ounces

GoldCore Comments on Silver

Gold inched down near $1,700/oz on Friday after a drop through its support level at $1,710-$1,712 initiated stop loss selling. The Nonfarm Payroll number for October is released at 1230 GMT. 125,000 are expected for Nonfarm Payrolls, while the Unemployment Rate number is expected at 7.9%. Better than expected employment data could be negative for gold as it may rescind additional QE from the US Fed.

Fortuna Reports Cash Flow of US$19.95 Million and Net Income of US$8.03 Million in the Third Quarter of 2012

Fortuna Silver Mines, Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F) is pleased to announce that it has filed its financial statements and MD&A for the three and nine months ended September 30, 2012.

COMEX Silver Inventory Update: -309,750.300 ounces

COMEX Silver Inventory Update: -309,750.300 ounces

Sprott Physical Silver Trust Prices Follow-on Offering of Trust Units In An Aggregate Amount of US$269,575,000

Sprott Physical Silver Trust (the "Trust") (NYSE: PSLV / TSX: PHS.U), a trust created to invest and hold substantially all of its assets in physical silver bullion and managed by Sprott Asset Management LP, announced today that it has priced its follow-on offering of 20,500,000 transferable, redeemable units of the Trust ("Units") at a price of US$13.15 per Unit (the "Offering"). As part of the Offering, the Trust has granted the underwriters an over-allotment option to purchase up to 3,075,000 additional Units. The gross proceeds from the Offering will be US$269,575,000 (US$310,011,250 if the underwriters exercise in full the over-allotment option).

COMEX Silver Inventory Update: -2,379,195.424 ounces

COMEX Silver Inventory Update: -2,379,195.424 ounces

Silver Market Morning

New York closed at $1,711.9 down just over $2.00 on Friday. This morning, Asia and London dealers took higher to trade at $1,723.45 ahead of London’s opening. It was Fixed at $1,723.25 up $13.25 and in the euro at €1,349.663 up €7 from yesterday while the euro was at €1: $1.2768. Ahead of New York’s opening, gold was slightly stronger at $1,724.45 and in the euro at €1,350.49.

COMEX Silver Inventory Update: -927,344.387 ounces

COMEX Silver Inventory Update: -927,344.387 ounces

Silver Market Morning

New York closed at $1,729.20 up $1.50 on yesterday. This morning, Asian and London dealers took the gold price higher to trade at $1,729.70 ahead of London’s opening. It was Fixed at $1,729.75 up $3.00 on yesterday morning’s Fix. In the euro it was Fixed at €1,344.226 down €6.5 from yesterday while the euro was stronger at €1: $1.2868. Ahead of New York’s opening, gold was almost the same at $1,730.25 and in the euro at €1,343.73.

Silver Market Morning

New York closed at $1,729.20 barely changed on yesterday. This morning, Asian and London dealers took the gold price higher to trade at $1,734 ahead of London’s opening. It was Fixed at $1,734.75 up $5.00 on yesterday morning’s Fix. In the euro it was Fixed at €1,345.393 up €1 from yesterday while the euro was slightly stronger at €1: $1.2894. Ahead of New York’s opening, gold was almost the same at $1,733.79 and in the euro at €1,343.73.

COMEX Silver Inventory Update: -2,066,683.435 ounces

COMEX Silver Inventory Update: -2,066,683.435 ounces

COMEX Silver Inventory Update: +1,241,527.270 ounces

COMEX Silver Inventory Update: +1,241,527.270 ounces

Silver Market Morning

New York closed at $1,715.20 yesterday. This morning, Asian dealers pushed prices down, unusually, to $1,705 before London opened. It was Fixed at $1,703.00 down $3.75 on yesterday’s Fix. In the euro it was Fixed at €1,300.794 down €5.354 while the euro was stronger at €1: $1.3092 and stabilizing. Ahead of New York’s opening, gold was $1,702.5 and in the euro at €1,301.01.

Decemeber 12: Gold and Silver Close With Gains

Gold gained $8.94 to $1718.94 at about 9:45AM EST before it fell back to $1707.55 in the next hour of trade, but it then rose to a new session high of $1723.20 following today’s fed announcement and ended with a gain of 0.08%. Silver climbed $0.43 to $33.38 before it fell back near unchanged in late morning trade, but it then surged to as high $33.78 in afternoon trade and ended with a gain of 1.43%.

iShares Silver Trust: 9,829.15 tonnes

iShares Silver Trust: 9,829.15 tonnes

December 18: Gold and Silver Fall Almost 2%

Gold fell $36.70 to $1661.30 by early afternoon in New York before it rallied back higher in the last couple of hours of trade, but it still ended with a loss of 1.48%. Silver slumped to as low as $31.35 and ended with a loss of 1.77%.

Fortuna Silver Mines CEO: "We're Looking For Deals At $80-$200+ Million, We Have The Cash & The Paper To Do It"

I had the opportunity to connect with the CEO of a fast growing Latin American silver producer yesterday, Jorge A. Ganoza, President, CEO, Director and co-founder of Fortuna Silver Mines Inc. Jorge has taken the company from a $30 million market cap, to over $500 million where it stands today.

December 27: Gold and Silver End Slightly Higher

Gold fell $8.09 to $1652.01 at about 9:45AM EST, but it then jumped to as high as $1665.39 in the last minutes of trade and ended with a gain of 0.25%. Silver slipped to $29.685 in London, but it then rose to as high as $30.466 in New York and ended with a gain of 0.8%.

COMEX Silver Inventory Update: -1,014,145.240 ounces

COMEX Silver Inventory Update: -1,014,145.240 ounces

The Silver Institute

Silver is indispensable. From industrial use to decoration, technology, photography and medicine, its unique properties of strength, malleability...

Pure Bull

PM prices hit yesterday on “supposed” fears that the clueless Fed didn’t announce enough MONEY PRINTING – though they did EXACTLY what was expected – and “deflation fears” when the Dow tanked mid-Afternoon in response to rumors of the long-awaited Moody’s downgrades, announced after the market close. Like the Fed announcement, no one can claim anything was “unexpected” about these downgrades – and, more importantly, such downgrades (in freely traded markets) are PM BULLISH.

Silver Market Morning

Gold closed in New York at $1,573 again. London moved down only slightly to $1,569, while the euro weakened slightly to €1: $1.2450, 50 cents lower. The gold Fix was set at $1,567.75 the same as yesterday and in the euro €1,261.466, €6 higher. Ahead of New York’s opening, gold stood at $1,571.30 and in the euro, €1,260.97 while the euro was at €1: $1.2461.

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.

Silver Market Morning

Gold closed in New York at $1,576.60 up $8. Asia and London took it down $10 to $1,566 as the euro continued to fall and ahead of London’s morning Fix today was set at $1,565.50 down $11 and in the euro at €1,281.097 down €3, while the euro stood at €1: $1.2220 down another 50 cents. Ahead of New York’s opening gold stood at $1,564.10 in the middle and in the euro at €1,284.84 almost unchanged on yesterday.

COMEX Silver Inventory Update: -378,196.144 ounces

COMEX Silver Inventory Update: -378,196.144 ounces

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.

Pan American Silver Comments on Changes to Mining Legislation in Rio Negro, Argentina

"Pan American Silver Corp. (TSX: PAA.TO)(NASDAQ: PAAS) ("Pan American" or the "Company") owns 100% of the Calcatreu gold development project ("...

Silver Market Morning

After a weekend of critical European elections the gold price started the week in Asia lower at $1,638 lower in the dollar [-$3] but higher in the euro at just below €1: $1.30 then recovered. In the euro the gold price stood at €1,260 up €20 just ahead of London’s opening. There is no Fixing in London today as it is a public holiday. Ahead of New York’s opening it stood at $1,641.25 and in the euro €1,258.53 while the euro was at €1: $1.3041.

Whatever It Takes

The world’s markets are alight with excitement regarding the brain-dead repetition of ECB head Mario Draghi stating he’ll do “whatever it takes” to save the Euro. In other words, what he’s said – and DONE – all along, PRINT MONEY, MANIPULATE MARKETS, and disseminate PROPAGANDA.

July 30: Gold and Silver End Mixed

Gold fell $9.32 to $1614.08 by about 8:30AM EST, but it then climbed to as high as $1624.86 in afternoon New York trade and ended with a loss of 0.08%. Silver slipped to $27.53 in Asia, but it then rose to as high as $28.23 in New York and ended with a gain of 1.55%.

Extorre Comments on YPF Developments in Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2012) - Extorre Gold Mines Limited (TSX:XG.TO) (NYSE...

GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit!

Welcome to Capital Account. JP Morgan said in a court filing that PFG's subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks.

Target 1 reached on silver (update on gold)

The initial profit taking target of the "Descending Triangle" pattern of the daily chart (right hand side below) on silver has been reached. The "Head and Shoulders" pattern on the daily chart is still in play.

Fighting Headwinds

This morning, PMs have been fighting the (coerced) headwinds created by the “debate” of whether an official, overt “QE3” program will be launched by the Fed, and WHEN. Why anyone would believe Bernanke would introduce – or even hint at – such a plan at Congressional hearings is beyond me, as such an occurrence has NEVER occurred in U.S. history.

Bolivia says may compensate South American Silver

The Bolivian government is willing to compensate South American Silver Corp for revoking its concession on the Malku Khota project, but it will be far less than the $16 million the company says it has invested, the country's vice president said on Thursday.

Euro shorts smell blood

Within the eurozone there are great stresses. At one extreme there are punitive costs of borrowing for Greece, Cyprus, Portugal, Ireland, Spain and Italy; at the other there is zero or negative interest rates for Germany, the Netherlands and Finland. Doubtless the first group begets the second, as captive investors in euros have to buy government bonds, and this requirement is being funnelled away from risk into safety.

Weekend Update - Silver

In Silver the volume has barely been 40,000 contracts lately on the daily chart, and "Open Interest" is around 120,000 contracts. Those traders who currently have a big position in Silver have a "ruling" hand right now. Should large orders "at the market" come in to cover shorts, or liquidate long positions it is likely to cause violent price action out of nowhere.

The Silver Rush at MF Global

Investors are furious that they can't get back the gold and silver they stashed with the failed brokerage. It's one thing for $1.2...

Silvercorp Reports 4.34 Metre Interception (True Width) of 642 Gram Per Tonne of Silver and 1.0 Gram Per Tonne Gold for Vein LM5W at the LM Mine, Ying Mining District, Henan Province, China

Silvercorp Metals Inc. (TSX: SVM.TO)(NYSE: SVM) ("Silvercorp") is pleased to report the results of its successful 2011 underground diamond...

NYMEX Daily Reports

The CME Group Daily Bulletin now contains information formerly found in the NYMEX, COMEX and DME fact sheets and open interest reports. However, only those products that have volume and open interest are displayed. Please review the Daily Bulletin Sample and Description to familiarize yourself with the new format.

Silver Futures

Daily Settlements for Silver Futures (PRELIMINARY)

June 12: Gold and Silver Gain About 1%

Gold fell $13.81 to $1586.39 by a little before 6AM EST, but it then shot back higher in morning New York trade and ended near its midday high of $1617.38 with a gain of 0.71%. Silver surged to as high as $29.042 and ended with a gain of 1.29%.

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