• Gold: 1,283.20 -1.01
  • Silver: 17.22 -0.04
  • Euro: 1.128 -0.002
  • USDX: 88.279 0.638
  • Oil: 48.19 3.69

January 30: Gold and Silver Fall Almost 1% and 6% on the Week But Miners Gain

7 hours 58 min ago

Gold saw slight gains in Asia and London before it spiked back down to $1256.30 just before the release of this morning’s GDP data, but it then rallied back higher for most of the rest of trade and ended near its last minute high of $1284.53 with a gain of 2.12%. Silver slipped back to $16.814 before it also rallied back higher and ended near its late morning high of $17.313 with a gain of 1.83%.

Silver Market Morning

New York closed at $1,182.60 on the last day of 2014 and the first trading day of 2015 saw the gold price stand at $1187.40 ahead of London’s opening. The Fix saw the gold price set at $1,184.25 down $15.00 and in the euro, at €983.351 down €3.991 while the euro was 1.23 cents weaker at $1.2043. Ahead of New York’s opening gold was trading in London at $1,183.10 and in the euro at €981.87.

December 31: Gold and Silver Fall Over 1% and 3%

Gold dropped down to $1180.49 at about 2PM EST before it bounced back higher in the last couple of hours of trade, but it still ended with a loss of 1.35%. Silver slipped to as low as $15.556 and ended with a loss of 3.57%.

Silver Market Morning

New York closed at $1,198.80 up $15 with Asia lifting it just over $1,200. The Fix saw the gold price set at $1,199.25 up $12.75 and in the euro, at €986.550 up €10.007 while the euro was barely changed at $1.2156. Ahead of New York’s opening gold was trading in London at $1,197.80 and in the euro at €985.56.

December 30: Gold Gains Over 1% and Silver Surges 3%

Gold jumped up to $1209.84 at about 10AM EST before it drifted back lower into the close, but it still ended with a gain of 1.27%. Silver surged to as high as $16.438 and ended with a gain of 3.17%.

Silver Market Morning

New York closed at $1,183.80 down from $1,196 in London at a level Asia held it at. The Fix saw the gold price set at $1,186.50 down $7.50 and in the euro, at €976.543 down €1.745 while the euro was 0.55 of a cent weaker at $1.2150. Ahead of New York’s opening gold was trading in London at $1,188.00 and in the euro at €976.85.

December 29: Gold and Silver Fall Roughly 1%

Gold dropped down to $1178.90 by late morning in New York before it bounced back higher in late trade, but it still ended with a loss of 0.96%. Silver slipped to as low as $15.724 and ended with a loss of 1.62%.

Silver Market Morning

New York closed at $1,174.80 on the 24th December. This was followed by a quiet week with thin trading as the holidays were underway, except for a big sale from the SPDR gold ETF. Today Asia holds the gold price at $1,196 ahead of London’s opening. The Fix saw the gold price set at $1,194 up $14.5 and in the euro, at €978.288 up €14.178 while the euro was 0.029 of a cent weaker at $1.2205. Ahead of New York’s opening gold was trading in London at $1,193.20 and in the euro at €978.27.

December 24: Gold and Silver End Near Unchanged in Quiet Trade

Gold gained $6.43 to $1181.03 by a little after 4AM EST before it fell back to $1172.97 at about 9:45, but it then bounced back higher into the close and ended with a loss of just 0.03%. Silver edged up to $15.863 before it fell back to $15.682, but it still ended with a gain of 0.26%.

Gold Seeker Closing Report: Gold and Silver End Slightly Higher

Gold climbed almost 1% to $1182.48 in Asia, but it then fell back off in London and New York and ended with a gain of just 0.15%. Silver spiked up to $15.889 at about 8:15 AM EST before it also fell back off, but it still ended with a gain of 0.32%.

Crude Oil, US National Debt, and Silver

Crude oil and silver prices have crashed before, and they will again. But the one constant in our financial universe that seems inevitable, for the foreseeable future, is increasing debt. Crude oil and silver prices will follow increasing debt.

Silver Market Morning

New York closed at $1,172.80 down $22.20 before Asia took it higher to $1,182 ahead of the Fix. The euro was 18 points weaker at $1.2238. In London gold remained steady and the gold Fixing was set at $1,179.50 down $15.75 and in the euro, at €964.11 down €10.968 while the euro was 0.024 of a cent weaker at $1.2234. Ahead of New York’s opening gold was trading in London at $1,179.60 and in the euro at €964.51.

December 22: Gold and Silver Fall Roughly 2%

Gold gained $6.98 to $1201.98 in Asia and held near unchanged in London, but it then fell back off for most of trade in New York and ended with a loss of 1.86%. Silver slipped to as low as $15.533 and ended with a loss of 2.43%.

Silver Market Morning

New York closed at $1,195.00 down $3.10 before Asia took it higher to $1,200 again ahead of the Fix. The euro was 30 points weaker at $1.2256. In London gold remained steady and the gold Fixing was set at $1,195.25 down $2.50 and in the euro, at €975.078 down €0.712 while the euro was 0.014 cents weaker at $1.2258. Ahead of New York’s opening gold was trading in London at $1,196.55 and in the euro at €975.98.

STUNNING DEVELOPMENT: India Imports Record Amount Of Silver In November

As the price of silver fell to a new low in November, India imported a record amount of the shiny metal. Demand for the physical metal was so strong, India nearly imported the same amount of silver in the month of November that it did for the entire year in 2009.

2014 WORLD SILVER MINE SUPPLY: May Come In Less Than Official Estimates

Global silver mine supply this year may turn out to be less than the official estimates. GFMS released their 2014 Interim Report stating world silver mine supply is forecasted to increased 3.5% to 868 million oz (Moz) in 2014. They included a world map in their report showing the net change in production from various countries.

December 19: Gold and Silver Fall Over 2% and 5% on the Week

Gold waffled between $1201.06 and $1194.31 in Asia and held near unchanged in London before it drifted back lower in New York, but it ended with a loss of just 0.26%. Silver slipped to $15.844 in London, but it the rose to as high as $16.099 in New York and ended with a gain of 0.82%.

Market Report: Relative calm for PMs in wild markets

This week has been extremely volatile for oil, currencies and stock markets. Against this background gold and silver have drifted sideways to slightly lower, which given the dollar's strong performance is almost a positive result.

Silver Market Morning

New York closed at $1,198.10 up $9.20 where Asia and London held it up to the Fix. The euro was 10 points weaker at $1.2286. In London gold rose strongly and the gold Fixing was set at $1,197.50 down $13.75 and in the euro, at €975.79 down €6.244 while the euro was 0.5 cents weaker at $1.2272. Ahead of New York’s opening gold was trading in London at $1,96.72 and in the euro at €975.14.

December 18: Gold and Silver Gain Almost 1%

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%.

Silver Market Morning

New York closed at $1,188.90 down $7.40 before Asia took it up to $1,199 again. The euro rose slightly to $1.2296 down almost 2 cents. In London gold rose strongly and the gold Fixing was set at $1,210.75 up $11.75 and in the euro, at €982.034 up €19.677 while the euro was 1.3 cents weaker at $1.2329. Ahead of New York’s opening gold was trading in London at $1,209.60 and in the euro at €980.86.

December 17: Gold and Silver End Mixed While Stocks Surge Higher

Gold edged up to $1202.23 in London before it fell to as low as $1184.89 after today’s fed statement, but it then bounced back higher in the last hour of trade and ended with a loss of just 0.62%. Silver slipped to $15.623 in late morning New York trade before it jumped up to $16.016 after today’s fed statement, but it then fell back off into the close and ended with a gain of just 0.19%.

Silver Prices to Outperform Gold in 2015

I know it’s a bold prediction: silver prices are going to surprise investors and provide them with better returns than gold bullion. I say this because both the fundamental and the technical pictures for silver continue to improve.

Fortuna Announces Expansion of Its San Jose Mine From 2,000 to 3,000 tpd

Fortuna Silver Mines Inc. (FVI.TO)(FSM)(F4S.F)(FVI) is pleased to announce Board approval of two major capital projects for 2015 at the San Jose Mine in Mexico: mill expansion from 2,000 to 3,000 tonnes per day ("tpd") and construction of a dry stack tailings deposit and filter facility. The company is in a strong financial position to meet its capital budgets from operating cash flows and available liquidity.

Silver Market Morning

New York closed at $1,196.30 up $4.60 before Asia took it up to $1,199. The euro rose slightly to $1.2490 with a wide spread. In London gold rose and the gold Fixing was set at $1,199.00 down $0.25 and in the euro, at €962.357 up €2.112 while the euro was half a cent weaker at $1.2459. Ahead of New York’s opening gold was trading in London at $1,198.10 and in the euro at €962.18.

Silver Series Part 1: The Many Phases of Silver

Silver Series Part 1: The Many Phases of Silver

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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