• Gold: 1,200.09 2.08
  • Silver: 16.23 0.01
  • Euro: 1.103 -0.000
  • USDX: N/A N/A
  • Oil: N/A N/A

March 5: Gold and Silver End Near Unchanged Before Jobs Day

6 hours 30 min ago

Gold dipped $1.43 to $1197.97 in London before it rallied back to $1209.48 at about 10:40AM EST and then drifted back lower in the next few hours of trade, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.12%. Silver rose to as high as $16.362 and ended with a gain of 0.19%.

Market Report: A steady start for 2015

Gold and silver started the year at a muted point, with gold at $1168 and silver at $15.50, from which modest rallies have developed, with gold up 4% and silver 6%. These rises were against a background of high volatility in equity markets, a strong US dollar and very weak oil prices.

Silver Market Morning

New York closed at $1,207.30 down $5.00 as the euro stabilized. In Asia the gold price rose to $1,212 with the euro at $1.1814 ahead of London’s opening. The Fix saw the gold price set at $1,211.25 up $4.75 and in the euro, at €1,025.093 64 up €0.029 while the euro was stronger by 0.46 of a cent than yesterday at $1.1816. Ahead of New York’s opening gold was trading in London at $1,211.50 and in the euro at €1,025.35.

January 8: Gold and Silver Fall While Stocks Extend Higher

Gold dropped $7.11 to $1205.19 at about 6:30AM EST before it bounced back to $1216.29 in the next three and a half hours of trade, but it then fell back off in afternoon trade and ended with a loss of 0.41%. Silver slipped to as low as $16.307 and ended with a loss of 1.39%.

Silver Market Morning

New York closed at $1,212.30 down $6.60 as the euro continued to fall. In Asia the gold price slipped to $1,207.90 with the euro at $1.1807 ahead of London’s opening. The Fix saw the gold price set at $1,206.50 down $7.25 and in the euro, at €1,025.064 up €1.234 while the euro was another 0.85 of a cent weaker than yesterday at $1.1770. Ahead of New York’s opening gold was trading in London at $1,206.60 and in the euro at €1,024.80.

January 7: Gold and Silver End Mixed As Stocks Rebound

Gold dropped $9.77 to $1209.13 by a little after 8AM EST, but it then bounced back higher after the release of today’s fed minutes and ended with a loss of just 0.54%. Silver rose to as high as $16.645 and ended with a gain of 0.06%.

Silver Market Morning

New York closed at $1,218.90 up $13.40 as the euro continued to fall. Gold retreated to $1,214.10 with the euro at $1.1866 ahead of London’s opening. The Fix saw the gold price set at $1,213.75 up $2.75 and in the euro, at €1,023.83 up €6.525 while the euro was another half of a cent weaker than yesterday at $1.1855. Ahead of New York’s opening gold was trading in London at $1,213.40 and in the euro at €1,024.61.

January 6: Gold and Silver Gain Over 1% and 2% Again

Gold gained $8.73 to $1214.23 in Asia before it fell back towards unchanged in London, but it then shot up to a new session high of $1222.38 in New York and ended with a gain of 1.11%. Silver surged to as high as $16.687 and ended with a gain of 2.04%.

Basic Truth and Consequences

Silver has languished since April 2011 – nearly four years, thanks to heroic efforts to manage prices downward, and the correction of silver’s 2.5 year run up from under $9 to over $48. Will the last bull turn out the lights when you leave the building? The insanity of debt, derivatives, and outright bond monetization in the US, Europe and Japan could cause us to question basic truths and the consequences of ignoring reality.

Silver Market Morning

New York closed at $1,205.50 up $18.00 as the gold price broke through key resistance in the dollar and in the euro. Gold continued to rise in Asia to $1,209.7 and in London to over $1,212 ahead of London’s Fix. The Fix saw the gold price set at $1,211 up $19.00 and in the euro, at €1,017.305 up €18.495 while the euro was another 0.3 of a cent weaker at $1.1904. Ahead of New York’s opening gold was trading in London at $1,211.80 and in the euro at €1,018.49.

January 5: Gold and Silver Gain Over 1% and 2%

Gold gained $10.24 to $1197.74 in Asia before it fell back to $1186.90 in London, but it then climbed to a new session high of $1207.45 in New York and ended with a gain of 1.52%. Silver surged to as high as $16.239 and ended with a gain of 2.6%.

Santacruz Silver Reports Malfunction in Tailings Dam Dewatering Pipe

Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (SCZ.V) reports that during the weekend at its Rosario Mine in San Luis Potosi, Mexico , a pipeline connecting the Rosario Mine tailings impoundment to a secondary settling pond ruptured and as a consequence water and some tailings material were discharged outside of the tailings treatment system. The Company has notified all appropriate regulatory and governmental authorities.

Silver Market Morning

New York closed at $1,187.50 up $4.90 as the world goes back to business as usual and volumes rise on Chinese demand. Gold rose in Asia to $1,196.00 ahead of London’s opening. The Fix saw the gold price set at $1,192 up $7.50 and in the euro, at €998.81 up €15.46 while the euro was another cent weaker at $1.1934. Ahead of New York’s opening gold was trading in London at $1,188.60 and in the euro at €998.53.

January 2: Gold and Silver End Slightly Lower on the Week But Miners Gain

Gold edged up to $1188.16 in early Asian trade before it fell back to $1168.43 at about 8:20AM EST, but it then jumped to a new session high of $1194.71 by late morning in New York and ended with a gain of 0.41%. Silver rose to as high as $16.06 and ended with a gain of 0.64%.

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%.

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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