• Gold: 1,298.93 -6.24
  • Silver: 20.57 -0.05
  • Euro: 1.341 -0.002
  • USDX: 81.185 0.179
  • Oil: 100.70 -0.89

Silver Prices – Megaphone Patterns

2 hours 2 min ago

Over 40 years of silver prices can be represented by four zones of megaphone shaped price patterns. My interpretation is that zone 4 – a long and aggressive move upward – is still in progress. My round number target is $100 or more in 2016 – 2019. Although I hope that the powers-that-be will not choose to create hyperinflation in the US, if hyperinflation does occur, the $100 target will be easily bypassed and much higher prices will be “in play.”

Swap Dealers ‘Goal Line Stand’ for COMEX Silver Futures in Jeopardy, Squeeze Very Possible Now

A sure-enough short squeeze might be developing in the volatile silver market. We attempt to identify who, or rather which class of futures trader, might be squeezed in this brief offering.

Fortuna Reports Production of 1.6 Million Ounces of Silver and 8,519 Ounces of Gold for the Second Quarter 2014

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 10, 2014) - Fortuna Silver Mines Inc. (FVI.TO)(FSM)(F4S.F)(FVI) is pleased to announce second quarter production figures from its two 100 percent owned operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver, 8,519 ounces of gold and significant base metal by-products. Silver and gold productions for the first six months of the year totaled 3.2 million and 16,669 ounces respectively; reflecting 53 and 52 percent of the company's annual guidance (see Fortuna news release dated January 13, 2014). Fortuna is on schedule to produce 6 million ounces of silver and 32,300 ounces of gold or 7.9 million ounces of Ag Eq* in 2014.

Silver Market Morning

The gold price closed at $1,327.70 up $8.00 on Wednesday in New York. In Asia, prices rose to $1,329.00 ahead of the London’ opening. London took the gold price up to $1,343.25 at the Fix up $20.75 and in the euro at €985.221 up €13.509, while the euro was stronger at $1.3634. Ahead of New York’s opening, gold was trading at $1,342.70 and in the euro at €986.19.

July 9: Gold and Silver Gain Before and After Fed Minutes

Gold climbed $7.35 to $1327.05 at about 8AM EST before it fell back to $1321.47 in the next four and a half hours of trade, but it then jumped to as high as $1331.80 after the release of today’s fed minutes and ended with a gain of 0.61%. Silver surged to as high as $21.221 and ended with a gain of 0.33%.

As silver fix decision nears, LME ties up with Autilla

The London Metal Exchange and technology firm Autilla joined forces on Wednesday to propose an electronic system for setting the global silver price benchmark as the deadline neared for replacing London's century-old silver fix.

There is NO RECOVERY!

Today's list of "horrible headlines" has never been longer - and this, during the so-called "summer doldrums." Middle Eastern violence, plunging economic growth, the default of the largest Portuguese bank, the BOJ preparing to monetize Japanese stocks, and plunging U.S. Treasury yields despite the so-called, eternally propagandized "recovery." Heck, Wal-Mart's CEO said so yesterday, there is NO RECOVERY!

Silver Market Morning

The gold price closed at $1,319.70 10 cents higher than Tuesday in New York. In Asia, prices rose to $1,323.00 ahead of the London’ opening. London held the gold price around that level then the Fix was set at $1,322.50 up $4.25 and in the euro at €971.712 up €2.482, while the euro was slightly stronger at $1.3610. Ahead of New York’s opening, gold was trading at $1,323.80 and in the euro at €972.56.

July 8: Gold and Silver End Slightly Higher

Gold waffled between $1320.05 and $1316.48 in Asia and saw slight gains in London before it climbed to as high as $1324.79 in midmorning New York trade and then fell to as low as $1314.01 by midday, but it then bounced back higher in afternoon trade and ended with a gain of 0.01%. Silver rose to as high as $21.193 and ended with a gain of 0.1%.

July 7: Gold and Silver End Near Unchanged

Gold dropped $7.27 to $1312.33 at about 10AM EST, but it then rallied back higher for most of the rest of trade and ended unchanged on the day. Silver slipped to as low as $20.844 and ended with a loss of 0.52%.

France de-dollarizing?

This weekend, our "ally" France made strong comments about de-dollarizing, joining our "enemies" the Chinese and Russians - and countless others. The global economy continues to plunge into the abyss - and with each passing day, the Fed's reckoning day (of announcing further QE) approaches. What will arrive first, the markets destroying America - and rocketing PMs to the stratosphere; or the Fed itself?

Silver Market Morning

The gold price closed at $1,319.60 on Friday in New York. In Asia prices pulled back to $1,312 ahead of the London’ opening. In London it began to recover through $1,314 after the dollar, initially slightly stronger began to weaken again. The Fix gold was set at $1,313.25 down $8.25 and in the euro at €965.838 down €6.497, while the euro was weaker at $1.3597. Ahead of New York’s opening, gold was trading at $1,313.80 and in the euro at €966.88.

Market Report: Underlying strength

Gold and silver spent most of the week consolidating recent gains by moving broadly sideways, but their underlying strength was a notable feature. The first chart is of gold and its open interest on Comex.

Silver Market Morning

The gold price closed at $1,319.60 down $7.30 Thursday in New York. In Asia prices rose to $1,321 ahead of the London Fix which was set at $1,321.50 down $1.00 and in the euro at €972.335 up €3.754, while the euro was weaker at $1.3591 down over half a cent. Thereafter, gold held at roughly the same level being moved by dealers and arbitrageurs in line with the $: € exchange rate, clearly unimpressed by the success of the American Revolution.

July 3: Gold and Silver End Slightly Higher on the Week

Gold dropped $17.87 to $1309.03 just after this morning’s jobs report was released, but it then bounced back higher midday and ended with a loss of just 0.55%. Silver slipped to as low as $20.81 at one point, but it then rallied back to $21.17 by late morning and ended with a loss of just 0.14%.

THE COMING TWO-STAGE RALLY IN SILVER

As the MSM, Wall Street and various so-called analysts waste time focusing on worthless and insignificant data, the price of silver is positioning itself for the coming TWO-STAGE RALLY. The majority of the precious metals analysts discuss the revaluation of silver as it pertains to the amount of fiat currency in the system.

Silver Market Morning

The gold price closed at $1,326.90 up 10 cents on Wednesday in New York. In Asia prices dropped to $1,321 ahead of the London Fix which was set at $1,322.50 down $4.25 and in the euro at €968.581 down €2.401, while the euro stood almost unchanged at $1.3654. Ahead of the opening in New York the gold price was trading at $1,323.10 and in the euro at €969.06.

July 2: Gold and Silver End Slightly Higher Before Jobs Day

Gold edged up to $1328.90 at about 8AM EST before it plummeted down to $1321.67 after this morning’s ADP Employment data was released, but it then rose to a new session high of $1330.68 in the next two and a half hours of trade and ended with a gain of 0.01%. Silver climbed to as high as $21.288 and ended with a gain of 0.52%.

Silver Market Morning

The gold price closed at $1,326.8, down $1.70 on Tuesday in New York. In Asia prices held around that level. In London, the Fix was set at $1,326.75 up $1.00 and in the euro at €970.982 up €2.504, while the euro stood weaker at $1.3664. Ahead of the opening in New York the gold price was trading at $1,326.60 and in the euro at €971.09.

For Silver Bulls, Expanded Coverage Starts Today

In response to popular demand, I’m going to start tracking silver more closely. “There is a lot of talk on the Internet about silver going up a lot around mid-July,” a chat-room denizen averred on Tuesday. Although I’m not one to be influenced by blogger buzz, if Silver is in fact developing thrust for a moon shot, the evidence should soon become apparent on the intraday charts. Most immediately, that would imply a pop through the p=21.325 midpoint Hidden Pivot shown (see inset). That would open a path to at least 22.070 , its D-target sibling. Gold stalled on a spike Monday at an analogous p, but the fact that it didn’t get past it means silver and gold futures are on roughly equal footing at the moment on the bull/bear scale.

Gold Seeker Closing Report: Gold and Silver End Slightly Lower

Gold edged down to $1323.80 in Asia before it rebounded to $1330.68 at about 9:30AM EST and then chopped back lower in early afternoon trade in New York, but it ended with a loss of just 0.13%. Silver slipped to as low as $21.011 and ended with a loss of 0.19%.

Silver Market Morning

The gold price closed at $1,328.50, up $12.40 on Monday in New York. In Asia prices were pulled back to $1,320.30. In London, the Fix was set at $1,325.75 up $12.75 and in the euro at €968.478 up €6.855, while the euro stood stronger at $1.3689. Ahead of the opening in New York the gold price was trading at $1,326.50 and in the euro at €968.85.

Gold Seeker Closing Report: Gold and Silver Gain Almost 1%

Gold edged up to $1317.60 in Asia before it dropped back to $1310.54 in London, but it then rose to as high as $1329.36 in New York and ended with a gain of 0.94%. Silver rose to as high as $21.118 and ended with a gain of 0.48%.

Pricing will get revealed

Ah, $1,320 gold - the "line in the sand" being defended as this month's COMEX options expiration period ends. Throughout the world, the upsurge in PM sentiment is starting to build; and for those that choose to ignore the word's of burgeoning Shanghai Gold Exchange's Chairman, we can only warn you otherwise. “Shanghai Gold will change the current gold market ‘consumption in the East, but priced in the West’ situation. When China will have a right to speak in the international gold market, pricing will get revealed.”

Silver Market Morning

The gold price closed at $1,316.10, down $0.10 on Friday in New York. In Asia prices fell to $1,313.40. In London, the Fix was set at $1,313.00 down $2.25 and in the euro at €961.623 down €4,691, while the euro stood slightly stronger at $1.3654. Ahead of the opening in New York the gold price was trading at $1,313.00 and in the euro at €961.76.

June 27: Gold and Silver End Slightly Higher on the Week

Gold climbed $5.97 to $1322.17 in Asia before it dropped back to $1312.78 at about 6AM EST, but it then edged back higher in New York and ended with a loss of just 0.01%. Silver rose to $21.20 before it fell back to $20.97 and then also edged back higher, but it still ended with a loss of 0.43%.

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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