• Gold: 1,305.18 -2.24
  • Silver: 20.68 -0.05
  • Euro: 1.343 0.000
  • USDX: 81.034 0.181
  • Oil: 101.71 -0.27

July 25: Gold and Silver Spike Back Friday But End Slightly Lower on the Week

2 days 4 hours ago

Gold jumped $15.80 to as high as $1308.20 in the last minutes of trade and ended with a gain of 1.16%. Silver surged to as high as $20.727 and ended with a gain of 1.82%.

June 16: Gold and Silver End Slightly Lower

Gold climbed $8 to $1284.90 in Asia before it pared back to $1279.55 in London and then bounced back towards its earlier high at the open of trade in New York, but it then fell back off into the close and ended near its late session low of $1270.67 with a loss of 0.41%. Silver slipped to as low as $19.589 and ended with a loss of 0.36%.

Manipulation Monday

My weekly podcast on the Financial Survival Network is titled "Manipulation Monday" - and no better example of this can be see than today. Oil prices are surging as Iraq and the Ukraine devolve into civil war, and global economies are sinking deeper into the abyss. Meanwhile, the Fed is desperately supporting the 10-year Treasury yield at 2.6%, in fears of widespread realization of the "most damning proof yet of QE failure"; whilst the PPT will not allow stocks to fall, or PAPER PMs to rise.

London Metal Exchange says can offer three solutions to silver fix

The London Metal Exchange (LME), which is competing to offer an alternative to the silver fix when the system is disbanded in August, said on Monday it could offer three different solutions.

BNN Interview with President & COO Eric Fier

SilverCrest Mines’ (TSX: SVL NYSE MKT: SVLC) President & COO Eric Fier appeared on BNN’s “Commodities” show with Andrew Bell on Tuesday June 10th, 2014 and discussed the Company’s growth strategy and M&A activities in the precious metals sector in a two-segment interview; please follow the links to view the interview:

Silver Market Morning

The gold price closed at $1,276.90 on Friday up $3.10 in New York. In Asia and London the price rose another $5 ahead of the Fix, where it was set at $1,281 .75 up $8.75 and in the euro at €947.339 up €9.171, while the euro stood weaker at $1.3529. Ahead of the opening in New York the gold price was trading at $1,280.30 and in the euro at €946.28.

Silver is 7 for 7. Are We Seeing #8?

Since 2008 the RSI of the ratio has made 7 important lows below 30 that were also matched with a decent bottom in the silver price.There was also a quickly reversed bottom in the RSI in May of 2013 but silver prices were still falling and showed no sign of a bottom until early July.

June 13: Gold and Silver Gain Almost 2% and 4% on the Week

Gold edged down $1270.92 in Asia before it shot up to $1277.13 at about 3AM EST and then dropped back to about unchanged in London, but it then rallied back higher in afternoon New York trade and ended near its late session low of $1277.88 with a gain of 0.24%. Silver slipped back to $19.489 in London, but it then climbed to as high as $19.73 in New York and ended with a gain of 0.72%.

SilverCrest Reports Results of AGM

SilverCrest Mines Inc. (the "Company") (SVL.TO) (NYSE MKT:SVLC) is pleased to announce the results of its Annual General Meeting of Shareholders ("AGM") held in Vancouver, B.C.

Ten Firms Express Interest in Silver Fixing Replacement

Ten companies are interested in developing and running a replacement for the century-old London silver fixing benchmark that will end in August. The London Bullion Market will create a shortlist from the requests for proposals and the industry group’s members will consider presentations at a seminar in London on June 20, the LBMA said today in a statement on its website. A survey conducted in May showed the market wants an electronic, auction-based process and one that’s tradable, the LBMA said June 5.

Bottoming out?

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

Silver Market Morning

The gold price closed at $1,273.80 up $12.80 on Thursday in New York. In Asia and London the price held at that level until the Fix, where it was set at $1,273.00 up $11.25 and in the euro at €938.168 up €5.266, while the euro stood stronger at $1.3569. Ahead of the opening in New York the gold price was trading at $1,273.40 and in the euro at €938.51.

Feisty Silver Bulls Face a Key Hurdle

The futures are looking robust for the first time in a long while. Yesterday’s rally generated yet another bullish impulse leg on the daily chart by surpassing an external peak at 19.525 recorded on May 23. A rally that is able to exceed at least two prior peaks with each new thrust, as Silver has been doing, is demonstrating that it is raring to go. If this is indeed so, we should see a surge today that surpasses the distinctive external peak at 19.825 (see inset) from May 22. Night owls looking to climb aboard should look to do so on a resumption of the rally following a shallow pullback of perhaps 15 cents from Thursday’s 19.565 high.

June 12: Gold and Silver Gain About 1% and 2%

Gold climbed to as high as $1274.44 by early afternoon in New York and ended with a gain of 1.02%. Silver surged to as high as $19.578 and ended with a gain of 1.82%.

Like in “Lost” manipulators keep pushing the button

In the classic TV drama “Lost,” certain occupants of the mysterious island were tasked with the job of punching a sequence of numbers into a computer every 108 minutes to avert an unknown catastrophe.

Silver: The Undercover Super Metal

Silver has a reputation for being gold’s less desirable sister, but make no mistake, silver may still be a golden opportunity to invest in. You might be surprised to know that silver plays a part in many everyday things you use, especially electronics. Silver has the highest electrical and thermal conductivity of all metals. The use of silver is very prevalent in the photography, consumer electronics, medical, and high tech industries.

Silver Technical Update

There is a clash between long term support and short term bearish divergence in gold. The key long term support is at $1773 while short term resistance is at $1994. Silver needs to trade over $1773 for the rest of the year to be in bullish zone. Silver will attract huge investment demand only if it trades over $2500 for a week. Till then traders as well as investors will use every rise of exit their silver investments.

Silver Market Morning

The gold price closed at $1,261.00 up $0.20 on Wednesday in New York. In Asia and London the price held at that level until the Fix, where it was set at $1,261.75 down $0.75 and in the euro at €932.902 up €0.273, while the euro stood weaker at $1.3525. Ahead of the opening in New York the gold price was trading at $1,264.20 and in the euro at €934.92.

June 11: Gold and Silver Close Near Unchanged

Gold edged up to $1265.00 by a little before 9AM EST before it dropped back to $1258.62 in early afternoon trade and then bounced back higher, but it ended with a gain of just 0.016%. Silver slipped to as low as $19.164 and ended with a loss of 0.1%.

The most damning evidence

This morning, I wrote of how global debt passed $100 trillion last year - and frankly, dramatically more if true GAAP accounting was utilized. This is the most damning evidence that fiat currencies are failing; as ultimately, debt growth turns parabolic at the end. With both gold and silver trading below the cost of production, how much longer can the "New York Gold Pool" keep prices down?

Silver Market Morning

The gold price closed at $1,260.80 up $7.80 on Tuesday in New York. In Asia and London the price held just above that level until the Fix, where it was set at $1,262.50 up $9.00 and in the euro at €932.629 up €8.014, while the euro stood weaker at $1.3537. Ahead of the opening in New York the gold price was trading at $1,263.10 and in the euro at €933.28.

June 10: Gold and Silver Gain Almost 1%

Gold jumped up to $1262.91 at about 8:30AM EST before fell back off a bit at times, but it still ended with a gain of 0.6%. Silver surged to as high as $19.24 and ended with a gain of 0.79%.

Silver Market Morning

The gold price closed unchanged at $1,253 on Monday in New York. In Asia and London the price held that level until the Fix, where it was set at $1,253.50 down $1.50 and in the euro at €924.615 up €3.92, while the euro stood weaker at $1.3557. Ahead of the opening in New York the gold price was trading at $1,253.10 and in the euro at €925.41.

June 9: Gold and Silver End Slightly Higher

Gold edged up to $1256.97 by a little after 8AM EST before it fell back to $1252.30 in the next four hours of trade and then bounced back higher in early afternoon trade, but it then chopped back lower into the close and ended with a gain of just 0.03%. Silver surged to as high as $19.197 before it also fell back off, but it still ended with a gain of 0.26%.

"Abenomics-afied" Japan

The ramfications of last week's ECB decision to take deposit rates to negative 0.1% - not to mention, reinstating the LTRO and unsterilized SMP "backdoor QE" programs - are enormous. In other words, the ECB admitted Europe is in as dire a situation as the "Abenomics-afied" Japan; and it's only a matter of time before Whirlybird Janet announces the same here.

First Majestic Wins Application to Dismiss Appeal

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce that on June 5, 2014 , the Court of Appeal dismissed the appeal filed by Hector Davila Santos ("Hector Santos") and Minerales y Minas Mexicanas, S.A. de C.V. ("MMM").

First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko

First Majestic Silver Corp. (FR.TO)(AG)(FMV.F) ("First Majestic" or the "Company") announces that it has today notified the Board of Directors of Orko Silver Corp. that it is not matching the offer made by Coeur d''Alene Mines Corporation ("Coeur") and will not be increasing the consideration under First Majestic''s offer to acquire all of the issued and outstanding Orko shares.

COMEX Silver Inventory Update: +396,820.320 ounces

COMEX Silver Inventory Update: +396,820.320 ounces

February 26: Gold and Silver Gain Over 1% More

Gold bumped up to $1601.89 in Asia before it fell to see a $10.26 loss at $1584.34 at about 10:15AM EST, but it then shot to as high as $1619.40 in the next hour of trade and ended with a gain of 1.21%. Silver surged to as high as $29.456 and ended with a gain of 1.19%.

March 5: Gold and Silver End Slightly Higher

Gold climbed up to $1586.04 at about 8:30AM EST before it fell back to $1571.75 over the next five hours, but it then bounced back higher in afternoon trade and ended with a gain of 0.08%. Silver surged to as high as $29.065 before it fell back to $28.513, but it still ended with a gain of 0.42%.

March 6: Gold and Silver Rise, Miners Jump Higher

Gold dropped to $1567.40 at about 9:45AM EST before it rebounded to $1584.58 in the next hour of trade and then fell back to about unchanged by early afternoon in New York, but it then rallied back higher in the last few hours of trade and ended with a gain of 0.53%. Silver slipped to $28.54 before it jumped up to $29.067 and then also fell back off, but it still ended with a gain of 1.33%.

COMEX Silver Inventory Update: -702,570.770 ounces

COMEX Silver Inventory Update: -702,570.770 ounces

COMEX Silver Inventory Update: -353,754.450 ounces

COMEX Silver Inventory Update: -353,754.450 ounces

Endeavour Silver Reports Record Earnings, Cash Flow and Revenue in 2012, Conference Call at 10 am PDT (1 pm EDT) on March 13, 2013

Endeavour Silver Corp. (EDR.TO)(EXK)(EJD.F) announced today record earnings, cash flow and revenue for the year ended December 31, 2012, thanks to the Company''s eighth consecutive year of growing silver and gold production. Endeavour owns and operates three underground silver-gold mines in Mexico: the Guanacevi mine in Durango state, and the Bolanitos and El Cubo mines in Guanajuato state.

COMEX Silver Inventory Update: -162,359.980 ounces

COMEX Silver Inventory Update: -162,359.980 ounces

March 12: Gold and Silver Gain Almost 1%

Gold held near unchanged in Asia, but it then jumped higher at about 7AM EST and ended near its late morning New York high of $1598.21 with a gain of 0.77%. Silver surged to as high as $29.35 and ended with a gain of 0.59%.

Industrial Uses Forecast to Boost Demand for Silver

Industrial demand for silver has increased substantially over the past two decades and is expected to soar to a new record level in the coming year. Speaking last week at the annual Prospectors & Developers Association of Canada convention in Toronto, Michael DiRienzo, Executive Director of the Silver Institute, said that demand for silver is broadening in many directions. Industry’s widening use of the precious metal is expected to average more than 483 million ounces (Moz.) from 2012 to 2014, a level 53 percent greater than the average annual industrial fabrication demand of 313.4 Moz from 1992-2001.

iShares Silver Trust Subtracts 150.30 Tonnes

iShares Silver Trust Subtracts 150.30 Tonnes

Fortuna reports record net income, operating cash flow, and sales for 2012

VANCOUVER , March 20, 2013 /CNW/ - Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI.TO) (F4S.F) today announces 2012 revenue of $161 million and net income of $31.5 million for the year. For the fourth quarter revenue totaled $37.9 million with net income of $8.5 million . Record silver and gold production for the year increased to a record 3,987,757 ounces and 20,699 ounces, respectively, at a consolidated cash cost per ounce, net of by-product credits, of $5.96.

March 21: Gold and Silver Gain Roughly 1%

Gold climbed to as high as $1616.42 at about 10AM EST before it chopped back lower at times, but it still ended with a gain of 0.54%. Silver surged to as high as $29.312 and ended with a gain of 1.29%.

Silver Wheaton reports record 2012 results

"2012 was another exceptional year for Silver Wheaton, anchored by a fourth quarter that saw record production, sales, revenue, net income, and cash flow for the company," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "With the addition of production from Hudbay's 777 mine midway through the year, plus growing production from Peñasquito, San Dimas and Zinkgruvan, 2012 production exceeded our forecast by over one and a half million ounces." "This translated into sales of over 27 million ounces, with the fourth quarter coming in at over nine million ounces, and full year cash flows of over $719 million. Given our dividend policy of paying out 20% of the trailing quarter's cash flow, Silver Wheaton's strong production growth profile directly translates into higher dividends, with $0.35 per common share paid during 2012, almost double what was paid in 2011, and our strong fourth quarter resulted in our first dividend in 2013 being $0.14 per share." "With the recently announced acquisition of gold streams from Vale S.A.'s Salobo and Sudbury mines, we are confident that 2013 and beyond will bring further growth and many new records to Silver Wheaton. While our organic growth profile now forecasts roughly an 80% increase of silver equivalent production over the next five years, we firmly believe there are yet more accretive opportunities for us to further add to our world-class portfolio of precious metals streams."

SilverCrest Files La Joya Technical Report Updated Resources & Positive Preliminary Metallurgy

SilverCrest Files La Joya Technical Report Updated Resources & Positive Preliminary Metallurgy; Potential For High Grade Cu-Ag-Au Concentrate With Over 30% Copper

Notice: All US and Canadian markets will be closed on Friday

Please note: All US and Canadian markets will be closed on Friday. This will result in large spreads between the silver bid and ask prices.

COT Report - March 29, 2013

...

April 1: Gold Edges Up While Silver Slips

Gold chopped around in a tight range of $1595.00 to $1600.90 in lackluster post-holiday trade and ended with a gain of 0.06%. Silver slipped to as low as $27.87 and ended with a loss of 1.44%.

Prophecy Platinum: enormous upside potential with low risk at the Yukon’s emerging Wellgreen PGM Ni-Cu district, and beyond

Prophecy Platinum (NKL: TSX-V, PNIKF: OTCQX) is a Canadian-based PGM-Ni-Cu company that is focused on developing their district-scale Wellgreen project in the Yukon and fully permitted Shakespeare mine in Ontario. The company is well positioned with respect to fundamental supply and demand changes in the PGM market, and recently appointed managers are helping their team expedite growth.

COMEX Silver Inventory Update: -81,395.465 ounces

COMEX Silver Inventory Update: -81,395.465 ounces

Endeavour Silver Reports Record Production in First Quarter, 2013; Produces 1,489,746 oz Silver (Up 39%) and 15,032 oz Gold (Up 138%)

Endeavour Silver Corp. (EDR.TO)(EXK)(EJD.F) announced today that the Company set new records for silver and gold production in the First Quarter, 2013 from the Company's three operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Bolanitos and El Cubo Mines in Guanajuato State.

SilverCrest Continues to Expand Santa Elena Deposit More High Grade Intercepts; 21.6m @ 1.46 gpt Au and 169.1 gpt Ag

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) (the "Company") is pleased to announce results of further delineation drilling at the Santa Elena Mine in Sonora, Mexico. Since mid 2012, 132 drill holes have been completed to further expand underground resources and reserves. This drill program continues to be extremely successful with the most recent holes identifying additional bonanza grades (as defined below) and providing further intercepts in the El Cholugo Zone. To date, resources at Santa Elena have been delineated along a strike length of over 1,200 metres and to a depth of 600 metres. The results of all holes included in this news release will be part of the ongoing resource expansion and reclassification to be included in the Pre-Feasibility Study for the Santa Elena Expansion Project which is nearing completion.

COMEX Silver Inventory Update: -978,339.568 ounces

COMEX Silver Inventory Update: -978,339.568 ounces

COMEX Silver Inventory Update: +1,434,531.165 ounces

COMEX Silver Inventory Update: +1,434,531.165 ounces

Silver rallies, but set for hefty drop on quarter

Silver futures led the rally among major metals Friday, but it was still poised for a loss of around 16% for the quarter.

Silver Market Update

Much of what is written for the Gold Market update applies equally to silver, so it will not be repeated here. There are, however, some important differences that we will focus on here, which suggest that silver now has really big upside potential from this point, despite its comparatively anemic reaction on Friday to the news out of Europe, compared to other commodities.

Capped at Round Numbers

Gold prices are AGAIN being capped at a round number, this time $1,590/oz despite a veritable cornucopia of gold bullish news, from steadily beating Middle East “war drums,” to FIVE separate pieces of weak U.S. economic data, to the implosion of the MOST IMPORTANT STOCK IN THE MARKET – “Margin Stanley” – following abysmal earnings that included the disclosure that it still needs to post $3 billion for collateral related to the recent Moody’s downgrade. Silver, too, is being heavily capped, at the same KEY ROUND NUMBER of $27.50/oz that has served as the Cartel’s line in the sand for roughly three weeks.

iShares Silver Trust: 9,742.43 tonnes

iShares Silver Trust: 9,742.43 tonnes

Silver Market Update

Some weeks ago in a Silver Market update we had noted that a large potential Head-and-Shoulders top area was completing in silver, but we got "...

First Majestic Completes Acquisition of Silvermex Resources

First Majestic Silver Corp. ("First Majestic") (FR.TO)(AG)(FMV.F) and Silvermex Resources Inc. ("Silvermex") (SLX.TO)(OTC.BB:GGCRF)(GSBN.F) are pleased to announce the completion of the plan of arrangement (the "Arrangement") previously announced in the joint news release of First Majestic and Silvermex dated April 3, 2012.

Real Money

The global economic meltdown continues, with the “President’s Working Group on Financial Markets” doing their best to support the “DOW JONES PROPAGANDA AVERAGE” while other (unnamed) forces attempt to cap the “barometers of bad tidings” – gold and silver.

Silver Market Morning

Gold closed in New York at $1,581.00 $4 higher, yesterday. London’s morning Fix today was set at $1,583.00 up $3 on yesterday and in the euro at €1,291.296, while the euro stood at €1: $1.2259 down nearly 20 cents on the dollar. Ahead of New York’s opening gold stood at $1,581.75 in the middle and in the euro at €1,293.28.

Better Places to Keep Your Money than the Bank

My local bank in Colorado is literally offering to pay me no interest --just an offensive 0.05% annually, before taxes. The interest rate triples to 0.15% when the balance exceeds $50,000. Absolutely no incentive when one considers the risks the bank imposes on your capital, retaining only pennies on the dollar of your money, then leveraging your capital -- fractional banking. How can I be interested in a 0% savings rate deposited at a relatively risky institution while supporting the fractional banking system?

COMEX Silver Inventory Update: -287,542.774 ounces

COMEX Silver Inventory Update: -287,542.774 ounces

First Majestic Reports Second Quarter Financial Results

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed interim consolidated financial results for the Company for the second quarter ending June 30, 2012. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

COMEX Silver Inventory Update: +566,677.050 ounces

COMEX Silver Inventory Update: +566,677.050 ounces

The Arbitrageur: The Decline and Fall of Silver Backwardation

On Friday, I published an article...

Comex silver stocks hit highest in at least 28 mths

Silver stockpiles in Comex-monitored warehouses a re at their highest level since at least December 2009, s howing near-term supply of the metal...

Bull Hammer in Silver

There was some major downside price rejection yesterday in Silver which can be seen clearly in the bull "Hammer" daily candlestick pattern. This should make the bears think twice about their prospects. There is potential here for a near term change in trend, but it is important to remember Japanese Candlestick patterns are useless without confirmation.

iShares Silver Trust: +30.18 tonnes

iShares Silver Trust: +30.18 tonnes

Helicopter Ben Speaks

Another typical day in the land of “free markets.” Under an endless crush of “horrible headlines,” stocks are simply not allowed to decline. Of course, when Helicopter Ben speaks before Congress – as he did today in his bi-annual “Humphrey Hawkins” economic testimony – gold is viciously attacked, as if Bennie has EVER hinted of incremental monetary policy on Capital Hill. Just yesterday, gold was a (capped) safe haven, but all of a sudden, it’s not.

CFTC’s Chilton Sees Silver Probe Concluding This Year

A four-year probe of potential price manipulation in the silver market may be completed as early as September, according to Bart Chilton, a member of the U.S. Commodity Futures Trading Commission.

iShares Silver Trust: 9,639.42 tonnes

iShares Silver Trust: 9,639.42 tonnes

July 27: Gold and Silver Gain About 2% on the Week

Gold climbed almost 1% to $1629.31 at around 8:20AM EST before it drifted back lower at times in New York, but it then bounced back higher in late trade and ended with a gain of 0.48%. Silver surged to as high as $27.839 before it also fell back off at times, but it still ended with a gain of 0.98%.

COMEX Silver Inventory Update: -621,019.100 ounces

COMEX Silver Inventory Update: -621,019.100 ounces

August 1: Gold and Silver Fall With Stocks

Gold edged up to $1618.45 in Asia before it dropped down to $1592.17 after the FOMC announcement, but it then bounced back higher in late trade and ended with a loss of just 0.87%. Silver slumped to as low as $27.157 before it also rebounded, but it still ended with a loss of 2.04%.

iShares Silver Trust: 9,742.43 tonnes

iShares Silver Trust: 9,742.43 tonnes

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