• Gold: 1,230.91 -0.24
  • Silver: 17.19 -0.00
  • Euro: 1.267 0.000
  • USDX: 85.705 -0.129
  • Oil: 81.30 -0.62

October 24: Gold and Silver End Slightly Lower on the Week

1 day 3 hours ago

Gold edged up to $1234.18 in Asia before it fell back to $1229.42 at about 11AM EST, but it then bounced back higher midday and ended with a loss of just 0.14%. Silver climbed up to $17.356 in early New York trade before it dropped back to $17.145, but it ended with a loss of just 0.17%.

August 18: Gold and Silver End Mixed

Gold dropped down to $1297.38 in early Asian trade before it bounced back to $1303.57 at about 6AM EST and then fell to a new session low of $1296.21 in the next four hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.4%. Silver slipped to as low as $19.484 in Asia, but it then climbed to as high as $19.69 in New York and ended with a gain of 0.31%.

Beware of the fall, ye paper shorters

The smoke has cleared, and still rates are at new lows (aside from Friday's spike lows) since early 2013, when the whole tapering propaganda scheme commenced. And with each passing day, the fundamental and technical strength under PMs grows stronger. All I can say is this - beware of the fall, ye paper shorters.

Silver Market Morning

The gold price closed at $1,304.10 down $8.90 on Friday in New York. In Asia, gold prices pulled back to $1,300 ahead of the opening in London. The gold price was Fixed at $1,302.75 down $10.75 and in the euro at €972.928 down €7.15, while the euro was weaker at $1.3390. Ahead of New York’s opening, gold was trading at $1,301.70 and in the euro at €971.78.

August 15: Gold and Silver Fall on the Week but Miners Gain

Gold edged up to $1315.09 at about 5:30AM EST before it dropped down to $1292.87 in the next four hours of trade and then bounced back higher in late morning trade, but it still ended with a loss of 0.68%. Silver slipped to as low as $19.519 and ended with a loss of 1.51%.

LBMA Silver Price Launches New Era in Pricing Precious Metals

CME Group, the world's leading and most diverse derivatives marketplace, and Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, have launched the new LBMA Silver Price mechanism in partnership with the London Bullion Market Association (LBMA). CME Group, Thomson Reuters and LBMA have joined forces to provide the over-the-counter spot silver market with a new transaction-based price-setting mechanism for the LBMA Silver Price that is IOSCO-compliant and fully electronic. CME Group will provide the electronic auction platform on which the price will be calculated, Thomson Reuters will be responsible for administration and governance and the LBMA will accredit price participants. The new LBMA Silver Price benchmark will be published and distributed by Thomson Reuters and will be available on the LBMA's website.

First Daily Silver Price Set After End of London Fixing

The first London silver price to replace the 117-year-old fixing ritual conducted by a few traders was set today in an attempt to make the process more transparent amid increased scrutiny of benchmarks.

117-year old London silver fix ends

Ross Norman, CEO of Sharps Pixley, discusses the implications of the end of London's Victorian era silver fix.

Silver Market Morning

The gold price closed at $1,313.00 up $1.40 on Thursday in New York. In Asia, gold prices rose slightly to $1,314.4 ahead of the opening in London. The gold price was Fixed at $1,313.50 down $1.50 and in the euro at €980.078 down €1.778, while the euro was stronger at $1.34.02. Ahead of New York’s opening, gold was trading at $1,312.40 and in the euro at €981.31.

New 'LBMA Silver Price' - Still Not Transparent

Overnight, silver and gold in singapore were flat as they were in London prior and after the new ‘LBMA silver price’. Futures trading volume has picked up and was about average for the past 100 days this morning. Gold and silver remain in very tight ranges which usually precedes a sharp move higher or lower. Given the poor economic data recently and geopolitical backdrop we expect gold and silver to break higher in the coming days as we enter the seasonal sweet spot for gold and silver.

August 14: Gold and Silver End Slightly Higher

Gold traded mostly slightly higher in Asia before it dropped back down to $1308.83 in London and then jumped up to $1318.30 in early New York trade, but it then drifted back lower into midday and ended with a gain of just 0.11%. Silver slipped to as low as $19.803 at one point, but it then bounced back higher into the close and ended with a gain of 0.4%.

It's becoming increasingly clear

The "end game" is getting so close, you can feel it. With yesterday's -6.8% Japanese GDP report, and today's negative report from Germany - much less Wal-Mart's horrific earnings guidance, it's becoming increasingly clear that global economy is collapsing. Japanese and German bond yields have fallen to record lows, and the benchmark 10-year Treasury yield is below 2.4%, as the entire world bets on the inevitability of global "QE to Infinity." NEVER have PMs been suppressed so blatantly, offering the chance of a lifetime to save yourself at prices below the cost of production!

Silver Market Morning

The gold price closed at $1,311.60 up $2.10 on Wednesday in New York. In Asia, gold prices rose slightly to $1,312 ahead of the opening in London. The gold price was Fixed at $1,315.00 up $4.00 and in the euro at €981.856 up €1.438, while the euro was stronger at $1.3393. Ahead of New York’s opening, gold was trading at $1,315.40 and in the euro at €983.48.

SilverCrest Reports Q2 2014 Financial Results

"As expected, SilverCrest's second quarter financial results reflect Santa Elena's lower production numbers during the transition from an open pit, heap leach operation to an underground mine and milling circuit. With the major milestone of mill commissioning accomplished in early August, SilverCrest's immediate focus turns to underground stope production. Expected increases in ore grades fed to the mill, combined with potential higher metal recoveries, should result in the Company achieving the lower end of our 2014 production guidance of approximately 3.3 million AgEq(2) ounces. With all major expansion capital expenditures complete, SilverCrest is now well situated to increase its cash position of $40.9 million (June 30, 2014) with near-term free cash flow from operation."

August 13: Gold and Silver End Mixed Yet Again

Gold dropped $4.76 to $1304.94 by a little after 8AM EST before it jumped up to $1314.94 in the next few hours of trade and then chopped back lower at times, but it still ended with a gain of 0.15%. Silver slipped to as low as $19.714 and ended with a loss of 0.6%.

U.S. Mint to use new silver benchmark for coin sales, purchases

The U.S. Mint said on Wednesday it will adopt the new electronic silver benchmark to be unveiled this week for its coin sales, silver purchases and price management programs following the end of the original 'silver fixing' mechanism.

Santacruz Silver Announces Appointment of Chief Operating Officer

Santacruz Silver Mining Ltd. (SCZ.V) (the "Company" or "Santacruz") is pleased to announce the appointment of Mr. Robert Byrd to the position of Chief Operating Officer of the Company effective August 11, 2014. Mr. Byrd will report directly to the President and CEO of the Company, Mr. Arturo Préstamo.

First Majestic Reports Second Quarter Financial Results

"Production in the second quarter, marking another record, increased for the ninth consecutive quarter. Costs continue to improve and remain a primary focus. The bulk of our capital intensive projects are winding down; some by design and some by choice in order to preserve cash during these challenging times."

Silver Market Morning

The gold price closed at $1,309.70 up 60 cents on Tuesday in New York. In Asia on Tuesday gold prices eased slightly to $1,307.50 ahead of the opening in London. The euro began to fall again and stood at $1.3368. The gold price was Fixed at $1,309.25 down $1.75 and in the euro at €980.418 down €2.341, while the euro was at $1.3354. Ahead of New York’s opening, gold was trading at $1,308.90 and in the euro at €979.46.

Fortuna Reports Consolidated Financial Results for the Second Quarter 2014

Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI) (F4S.F) today reported revenue of $44.3 million, cash generated from operations, before changes in working capital of $15.1 million and net income of $2.9 million in the second quarter of 2014.

August 12: Gold and Silver End Mixed Again

Gold climbed $8.43 to $1317.53 at about 10:30AM EST before it fell back to $1308.33 at about 1:30PM, but it then bounced back higher in late trade and ended with a gain of 0.05%. Silver edged up to $20.145 in Asia before it fell back to $19.873 by early afternoon in New York and then bounced back higher, but it still ended with a loss of 0.4%.

Silver Market Morning

The gold price closed at $1,309.10 down $2.30 cents on Monday in New York. In Asia on Tuesday gold prices eased slightly to $1,307.50 ahead of the opening in London. The euro began to fall again and stood at $1.3368. The gold price was Fixed at $1,311.00 up $2.75 and in the euro at €982.759 up €5.432, while the euro was weaker at $1.334. Ahead of New York’s opening, gold was trading at $1,311.80 and in the euro at €983.43.

Don't be surprised if silver is the target.

Russia took some very stern retaliatory steps this past week in response to being sanctioned, sanctioned again, and sanctioned further for good measure. Up until this point, Mr. Putin had remained somewhat restrained and I would say almost stoic in his responses by never trying to "one up" the sanctions, only matching them so far. This may have now changed and unfortunately for the West, Russia's retaliation is coming at a poor time.

August 11: Gold and Silver End Mixed and Near Unchanged

Gold fell $5.91 to $1305.49 in Asia before it bounced back to $1311.30 in London and then chopped back lower in morning New York trade, but it then edged back higher in the last four hours of the day and ended with a loss of just 0.78%. Silver slipped to as low as $19.849 in Asia, but it then rose to as high as $20.103 in New York and ended with a gain of 0.35%.

The world’s worst ‘open secret’

In my view, the manipulation (more accurately, “suppression”) of precious metal prices is the most recognized “open secret” in markets today. That is, virtually everyone who participates in the markets that set PM prices understands - takes for granted - that prices are capped and will not be allowed to rise above a certain price point.

The walls are starting to close in on TPTB

The walls are starting to close in on TPTB, as the inflation their money printing created is catalyzing war and unrest the world round ; in the U.S.'s case, alienating essentially anyone that matters.

Silver 'boost to antibiotic success'

Adding silver to antibiotics makes them 10 to 1,000 times more effective at fighting infections, research suggests.

Huldra Silver Provides an Update on Mill Efficiencies and Surface Exploration Plans

As part of an effort to reduce costs and increase efficiency, Huldra has temporarily suspended milling operations in Merritt, BC a few days prior to a planned maintenance procedure in order to install previously purchased rubber ball mill liners that will significantly increase the throughput capacity of the mill to approximately 300 tonnes per day from the current maximum of 250 tonnes per day, depending on the work index of the mill feed. The delivery of the liners is expected later this week and should take approximately one day to install. The ball mill is currently being prepared for the new liners. A number of other maintenance items will be completed during this time to increase the efficiency of the operation of the mill. Once complete, the mill will be run at maximum capacity with reduced cost. Only essential personnel will be on site during the maintenance procedure.

Silver Market Morning

New York closed on Tuesday at $1,285.40 up $34.30. This morning in Asia pulled back to $1,280 then as London started it slipped back to $1,275 and was Fixed at $1,275.00 down $5.75 on yesterday’s Fix and in the euro at €976.787, down €5.0 showing gold yesterday moved down in both currencies as the dollar recovered. Ahead of New York’s opening gold was trading at $1,276.95 and in the euro at €978.81.

July 12: Gold and Silver Gain About 5% and 6% on the Week

Gold fell $17.40 to $1268.00 at about 7AM EST, but it then rallied back higher throughout most of the rest of trade and ended with a loss of just 0.07%. Silver slipped to as low as $19.64 before it also rallied back higher, but it still ended with a loss of 1.44%.

SilverCrest Announces Q2 Record Silver Production 194,022 Ounces Silver & 7,463 Ounces Gold

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) (the "Company") is pleased to announce production numbers for the second quarter of 2013 from its 100% owned Santa Elena Mine located in Sonora, Mexico.

Silver Market Morning

Asia again lifted the market up to $1,336 after New York closed at $1,333.70 up another $16 on London. London pulled it lower ahead of the Fix where it was set at $1,326.75 up $13 from yesterday but down $10 on the start of the day and was Fixed in the euro at €1,007.10 up nearly €9.00. Ahead of New York’s opening gold was going firmer at $1,329.55 and in the euro at €1,008.84.

Silver Market Morning

New York closed at $1,342.4 up $8.70. London lifted it ever so slightly to $1,343.30 ahead of the Fix where it was set at $1,340.00 up $13.25 from yesterday and was Fixed in the euro at €1,012.31 up €5.20. Ahead of New York’s opening gold was holding that level and in the euro at €1,012.96.

SilverCrest Announces Santa Elena Expansion Pre-Feasibility Study; Base Case NPV @ $243.7 Million and 88% IRR 8 Years of Mine Life Added

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) ("SilverCrest" or the "Company") is pleased to announce that it has filed its NI 43-101 Technical Report entitled "Santa Elena Expansion Pre-Feasibility Study and Open Pit Reserve Update" for its operating mine located in Sonora, Mexico. Summaries of the revised Life of Mine Plan (LOMP), operating costs, capital costs and Expansion project economics are presented in tables below. All dollar amounts are expressed in U.S. dollars unless otherwise specified. The effective date of this Technical Report is April 30, 2013.

Silver Market Morning

New York closed at $1,285.10 up $1.50 but down $18.80 on the day before. Asia saw the gold price lifted to $1,290. It then Fixed in London at $1,287.75 down $4.25 and in the euro at €964.246 down nearly €8.80. Ahead of New York’s opening gold was at $1,288.65 and in the euro at €965.03.

The Silver Miners are Ripe for Breakout

The Silver Miners Exchange Traded Fund symbol SIL looks ripe for a breakout from a Bullish reversal pattern on the Daily chart. This pattern is what I call an "Inverted Head and Double Shoulders pattern" which is highlighted by the blue text notes on the chart below. The neckline is a trendline drawn off the peaks in this pattern and the breakout point signals the potential change in trend.

Silver: The GSR Bottom Finder

Six of eight significant silver market lows in the past 23 years occurred when the GSR (gold to silver ratio) was > 64 and the RSI (Relative Strength Index (link) of the GSR was < 35. Silver, in late June and early July 2013, met the above criteria, along with a near record low RSI of the GSR, and a record low in the TDI Trade Signal Line.These are strongly bullish conditions.

August 14: Gold and Silver Gain About 1% and 2%

Gold fell to $1315.70 in Asia before it rebounded to $1327.00 at about 5AM EST and then dropped back to $1319.00 in the next four and half hours of trade, but it then jumped to as high as $1335.86 in New York and ended with a gain of 1.01%. Silver surged to as high as $21.851 and ended with a gain of 1.82%.

August 15: Gold and Silver Gain About 2% and 5%

Gold rose $11.04 to $1346.04 in Asia before it fell to see a $16.01 loss at $1318.99 after this morning jobs data was released, but it then rallied back higher throughout most of the rest of trade and ended near its midafternoon high of $1369.59 with a gain of 2.09%. Silver climbed to $22.171 in Asia before it fell to as low as $21.71 at about 9AM EST, but it then rose to as high as $23.171 and ended with a gain of 4.99%.

August 16: Gold and Silver Gain Over 4% and 13% on the Week

Gold climbed almost $10 to $1372.57 in Asia before it fell to see a $5.20 loss at $1357.70 in London, but it then rose to as high as $1379.35 in New York and ended with a gain of 0.74%. Silver surged to as high as $23.408 and ended with a gain of 1.09%.

Losing Control

The Fed is on the verge of completely losing control of its Treasury bond "QE" Ponzi Scheme; as in reality, the 32-year Treasury Bond market is decidedly OVER. China and Japan are selling, the rest of the world is selling, and thus, the Fed will likely be forced to announce "QE5" around the same time they were initially expected to start "tapering."

Discover Your Next Resource Investment With Two of The World’s Top Resource Financiers: Ned Goodman & Eric Sprott

Cambridge House International is pleased to announce the attendance of two of the World’s top resource financiers at the upcoming Toronto Resource Investment Conference. Ned Goodman, founder of Dundee Corporation, and Eric Sprott, founder of Sprott Asset Management LP, will be delivering keynote speeches during a historic moment in the resource sector.

World's Largest Silver Producing Company Reports Big Decline in Production

The world's largest silver producer saw its production decline substantially in the first half of 2013. Many assume this decline came from Fresnillo, which is known as the largest primary silver miner in the world. However, it was recorded by KGHM Polska Miedz, the largest by-product silver producer on the planet whose annual silver production was 41 million oz in 2012.

August 22: Gold and Silver Gain With Stocks and Oil

Gold fell $12.50 to $1354.90 in early Asian trade before it climbed to see a 1% gain at as high as $1381.51 by a little after 10AM EST and then fell back under $1370 by early afternoon, but it then edged back higher in the last few hours of trade and ended with a gain of 0.53%. Silver slipped to $22.457 before it climbed to as high as $23.313 and ended with a gain of 0.57%.

August 27: Gold and Silver Gain But Miners Fall

Gold climbed $20.83 to as high as $1423.23 at about 10:30AM EST before it drifted back lower into the close, but it still ended with a gain of 0.93%. Silver surged to as high as $24.681 before it also fell back off, but it still ended with a gain of 0.66%.

September 18: Gold and Silver Soar Over 4% and 6% Higher After Fed Fails to Taper

Gold dropped $18.50 to $1291.40 in Asia before it rebounded to $1307.52 in London and then fell back to $1296.00 by a little before 10AM EST, but all bets were off when it became time for the fed’s highly anticipated announcement on possible tapering of its stimulus program. Gold initially climbed up to $1312.02 just before the announcement and then jumped to $1349.35 just after the announcement before it pared its gains a bit in the next hour of trade, but it then climbed to a new session high of $1367.20 in the last hour of trade and ended with a gain of 4.31%. Silver slipped $0.52 to $21.20 at about noon EST, but it then soared to as high as $23.213 and ended with a gain of 6.31%.

Vote for Winning SilverSeek 10-YEAR Anniversary Silver Round Design!

The SilverSeek Ten Year Anniversary Round Design Competition is officially underway. Currently voting is open to vote on an image for the first silver round. The votes will be collected on Facebook at this link. The voting for the first round will be completed at 11:59 PM PST Tuesday, October 1st. Each person is allowed to vote once on a design, so take your time and make sure to choose your favorite.

Is mainstream media guilty of professional malpractice?

One person’s view on how and why the mainstream media have served as an accomplice to precious metals manipulation. Author’s note: Instead of being a column, this effort ended up being more like a chapter in a book. Still, I hope those with a deep interest in this topic (like myself) find it worthy of their time.

SilverCrest Announces Positive La Joya Preliminary Economic Assessment Base Case Pre-Tax NPV(5%) of US$133 Million and 30% IRR for "Starter Pit"

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) ("SilverCrest" or the "Company") is pleased to announce that it has completed the Preliminary Economic Assessment ("PEA") for its La Joya Silver Copper Gold Project ("La Joya") located in Durango, Mexico. Summaries of the current resources used for the PEA, a preliminary Life of Mine Plan (LOMP), operating costs, capital costs and project economics are presented in tables below. A Technical Report compliant with NI 43-101 is being completed by EBA Engineering Consultants, a Tetra Tech Company (EBA) with an effective date of September 23, 2013 to be filed within 45 days of this release. All currency values are presented in US$ unless otherwise specified.

An introduction to SantaCruz Silver Mining

Big Al and Cory chat with SantaCruz Silver Mining President and CEO Arturo Préstamo Elizondo to get a run down of this very interesting company. The company’s goal is to become a mid tier silver producer and are on track to accomplish this in the next couple years.

GoldSeek LIVE! with Jay Taylor & Greg Johnson, President & CEO of Prophecy Platinum

- Wednesday, October 30th at 11am EST - Online: https://attendee.gotowebinar.com/register/4501697826298177282 - Presentation by Greg Johnson, Chairman & CEO of Prophecy Platinum Corp. (OTC-QX: PNIKF | TSX-V: NKL) - Q&A with Jay Taylor, Editor at the “Gold & Tech Stocks” newsletter

Daily Silver Data

Statistics about silver that change every day.

Silver Market Morning

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Silver Update

Here are a few patterns that might explain the current state of the silver price, as well as, provide the possible way forward. Below is a graphic which compares the current pattern on silver (from about the beginning of 2011 to present) to a 2007 pattern:

Dramatic Turnaround For Silver?

On the chart, I have indicated two similar patterns (marked 1 to 5).This comparison suggests that silver could rise significantly over the next couple of months. This would mean that a dramatic turnaround in the price of silver is coming (it might have started already).

Silver Market Update

The patterns forming in gold and silver are remarkably similar, and much of what has been written in the parallel Gold Market update applies equally to silver, so it will not be repeated here. The big question is "has silver finally bottomed?" - that is the question that we are going to attempt to answer in this update.

May 22: Gold and Silver End Over 1% Lower

Gold dropped $19.82 to $1573.18 by about 5AM EST before it climbed back above $1590 by late morning in New York, but it then fell back off into the close and ended with a loss of 1.64%. Silver slipped to $28.015 before it surged to as high as $28.804, but it also fell back off in late trade and ended with a loss of 1.26%.

Julian Phillips: Silver Price Falls with Euro; in hands of traders

Comment Wire: The fall in the silver price to current levels of $27.34 reflects the fall in the euro and not that rise of the dollar. Both gold and silver have for so long been treated as "counters to the dollar" to quote the Bundesbank's ex-President Herr Weber. But this does not mean, after market volatility says differently, that silver should move with the euro.

Ranting Andy on Silver

June 1, 2012 will be remembered as a watershed day. “Cartel Rule #1” was already broken on Wednesday – i.e., “thou shalt not let PMs rise when the Dow plunges,” and nearly was yesterday as well, until they viciously ATTACKED PMs and GOOSED the “Dow Jones Propaganda Average” at midday. But today – with European markets already in freefall, the BLS published its third straight catastrophic NFP employment report.

iShares Silver Trust: 9,643.17 tonnes

iShares Silver Trust: 9,643.17 tonnes

Silver Market Morning

Gold closed in New York at $1,620.40 and in London’s early morning fell to $1,615.75. There is no Fixing in London today due to the Jubilee celebrations. Ahead of New York’s opening gold stood at $1,618.22 and in the euro, €1,301.55 while the euro was at €1: $1.2433.

This Ain't The Bottom (But you can see it from here)

Wallace, Idaho – Bernard Baruch famously said: “Don't try to buy at the bottom and sell at the top. It can't be done except by liars.” Good advice. So many ersatz experts are calling this the bottom for silver and gold that it absolutely cannot be the actual bottom. It may be so close that we can see it, but we're willing to ride this elevator down a few more floors before we hit that big red STOP button.

June 6: Gold Gains While Silver Surges

Gold rose $22.40 to $1640.80 at about 8:30AM EST, but it then fell back off in early afternoon trade and ended with a gain of just 0.07%. Silver surged to as high as $29.895 before it also fell back off, but it still ended with a gain of 2.94%.

Silver Offers A Great Opportunity

For more silver and gold analysis and guidance, see my Long-term Silver Fractal Report & Long-term Gold Fractal Report or subscribe to my Premium Service.

COMEX Silver Inventory Update: -27,627.307 ounces

COMEX Silver Inventory Update: -27,627.307 ounces

CFTC Chairman Gary Gensler on C-SPAN

Gary Gensler talked about Commodity Futures Trading Commission oversight of commodity "futures," and he responded to telephone calls and electronic communications.

The Premier Safe Haven

Precious Metals are yet again asserting themselves following MULTIPLE attempts to push them down – first at the usual 12:00 PM EST with most markets flat, then late in the afternoon when the “DOW JONES PROPAGANDA AVERAGE” started plunging. TPTB are horrified that their pathetic “Spanish Bailout” ploy failed, with stock and markets plunging worldwide – notwithstanding yesterday’s blatant prop job. If gold remains positive by day’s close – and the Dow stays down – this will be the fourth such time in two weeks – SHOUTING to the world that gold is, indeed, the premier safe haven asset. With the potentially catastrophic Greek elections this weekend – and fears of an Italian contagion, be prepared for ANYTHING in the coming days.

Huldra Silver Provides Progress Update on Treasure Mountain and the Merritt Mill

Huldra Silver Inc. (HDA.V) (the "Company" or "Huldra") today provides a progress update on the mining operations at its 100% owned Treasure Mountain Property and an update on the construction of its 200 tonne per day mill in Merritt, BC.

Vintage Gold Cartel

This week has been vintage Gold Cartel/JP Morgan in action. The gold/price action has been counterintuitive until today. Meanwhile, the silver open interest is near at its recent highs, as JPM has stopped all silver rallies whenever the price reached $29 per ounce. Take a look at the silver chart of late. Now they have made their move along with the rest of The Gold Cartel. Spec precious metals longs are terrified and many forced to exit their positions.

Silver coins hot up in India as gold sales weaken

With gold prices too hot for many in India, silver has regained its sheen. Sales of silver coins are soaring in India, with most consumers buying silver coins which herald good luck and prosperity. Gold, on the other hand, has hit several highs in the last couple of days, deterring buyers from the precious metal. Delayed monsoons in India have all but grounded sale of gold too. In rural India, sales of the yellow metal are closely linked to monsoon, since good rains that bring on a rich harvest will boost gold purchases by farmers.

Pan American Silver Falls to Levels Below Book Value

In trading on Friday, shares of Pan American Silver Corp. (Toronto: PAA) crossed below their last reported book value — defined as common shareholder equity per share — of $17.83, changing hands as low as $17.70 per share. Pan American Silver Corp. shares are currently trading down about 3.2% on the day.

Silver Market Morning

Gold closed in New York at $1,572. London opened at the same level, but as the euro slipped slightly it slipped marginally too, but then recovered ahead of the Fixing in London to Fix at $1,569.00 and in the euro at €1,256.406 almost the same as Friday’s level. Ahead of New York’s opening gold stood at $1,570.30and in the euro, €1,257.25 while the euro was at €1: $1.2490.

Perfect Storm Brewing

The markets are in turmoil for the same cadre of horrible trends as usual, starting with Spanish bond yield surging above 7%, uncertainty about the toothless European Summit, PLUNGING British bank stocks on the heels of “LIEBOR” fraud (Barclays, down 17% today alone) and unattainable ATM funds (RBS, down 13%). Throw in the Supreme Court’s insane upholding of Obamacare, in which the only justice to vote against his party was Chief Justice Roberts, and further weakness in jobless claims, and you have a perfect storm brewing.

July 16: Gold and Silver End With Slight Gains

Gold dropped down to as low as $1578.51 by a little after 8AM EST, but it then rose to as high as $1594.61 in late morning New York trade and ended with a gain of 0.09%. Silver surged to as high as $27.42 and ended with a gain of 0.22%.

First Majestic Produces 2.1 Million Silver Equivalent Ounces in Second Quarter

First Majestic Silver Corp. ("First Majestic" or the "Company") (FR.TO)(AG)(FMV.F) (WKN:A0LHKJ)is pleased to announce that total production at its three mines in Mexico for the second quarter ending June 30, 2012 reached 2,102,222 equivalent ounces of silver, representing a 14% increase compared to the same quarter in 2011.

Silver Market Morning

Gold closed in New York at $1,581.70 yesterday down $7.80. Asia took it to $1,582 ahead of London’s opening. London’s morning Fix today was set at $1,579.50 down $6 on yesterday and in the euro at €1,298.651, while the euro stood at €1: $1.2257 down half a cent on the dollar. Ahead of New York’s opening gold stood at $1,579.32 in the middle and in the euro at €1,290.66.

Highest Voted

Julian D. W. Phillips, 90.0% (2 votes)
Steve St. Angelo, SRSrocco Report, 88.6% (7 votes)
Jack Mullen, 100.0% (23 votes)
Bill Rice, Jr., 100.0% (18 votes)

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