• Gold: 1,318.03 5.84
  • Silver: 18.26 0.49
  • Euro: 1.110 0.002
  • USDX: 95.794 -0.451
  • Oil: 49.42 1.41

The FED Finds a Good Excuse to Extend and Pretend Through Brexit

4 hours 4 min ago

Brexit has happened. Those who are not happy with this reality are making their voices heard; yet, so too are those who are overjoyed to have their liberty and freedom back in their own hands. This divide is glaringly obvious and has been the highlight of the news reel since last week's vote. There has been a flood of articles relating to the matter, and for good reason. This is a historic event and a move that slaps the global elites squarely in the face, something that rarely happens throughout our history.

March 28: Gold and Silver End Slightly Higher

Gold gained $5.63 to $1222.83 by a little before 10AM EST before it chopped back lower in the next few hours of trade, but it still ended with a gain of 0.23%. Silver rose to as high as $15.348 and ended with a gain of 0.13%.

Silver Relative Strength Report

Gold went down (as the muggles would measure it, in dollars). It dropped almost 40 bucks. Silver fell almost 60 cents. Since silver fell proportionally farther than gold, the gold-silver ratio went up.

Market Report: Dollar’s roller-coaster

It is usual in these conditions for negative factors to recede from traders' minds, and so we have seen continuing strength in equities, and a resurgence in confidence in the dollar after its recent weakness. Most vulnerable have been precious metals on the back of a stronger dollar, and also sterling, where the excuse for selling is opinion polls suggesting Brexit is more likely. In short, Easter is a period of unpredictable price moves in thin trade, similar to the period between Christmas and New Year.

Pre-1965 Silver Pocket Change Provides Investors With an Economic Future

Among all the choices you have for gold and silver bullion, genuinely historic metal is still around at reasonable prices. The runaway classic is ninety-percent U.S. silver coinage.

March 24: Gold and Silver Fall Almost 3% and 4% on the Week

Gold fell $7.60 to $1212.80 in Asia before it bounced back to $1223.73 at about 8:45AM EST and then chopped back lower at times, but it ended with a loss of just 0.26%. Silver slipped down to $15.146 before it also rebounded, but it still ended with a loss of 0.52%.

March 23: Gold and Silver Fall About 2% and 4%

Gold fell $31.81 to $1216.39 by midmorning in New York before it bounced back higher into the close, but it still ended with a loss of 2.23%. Silver slipped to as low as $15.225 and ended with a loss of 3.91%.

March 22: Gold and Silver Gain With Bonds and Dollar

Gold jumped $15.39 to $1259.49 by about 4AM EST before it chopped back lower in London and New York, but it still ended with a gain of 0.33%. Silver rose to as high as $15.996 and ended with a gain of 0.32%.

Silver: The Best Is Yet To Come

America was built by “citizen champions”. Should the current gold price action be described in a similar way, as a “rally of champions”? I think so. Technically, gold is arguably overbought. It may be due for a correction according to cycle analysis, and yet the world’s mightiest metal just keeps moving relentlessly higher.

CME Group and Thomson Reuters to Enhance LBMA Silver Price Benchmark

CME Group, the world's leading and most diverse derivatives marketplace, in its capacity as joint administrator and calculation agent for the LBMA Silver Price, and Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the implementation of new measures to further enhance and develop the LBMA Silver Price Benchmark, based on ongoing consultation with participants and approval of the independent Oversight Committee.

Silver Price Forecast: A Big Reason Why Silver Is Set To Soar

Silver Price Forecast 2016: There is only so much value in the world economy, and it is split between all the different instruments (like gold, silver, stocks, bonds, commodities, etc.) where value resides. For silver and gold to rise significantly, relative to other instruments of value, value will have to be diverted away from those other competing instruments. The stock market, in particular, has been the biggest obstacle to a rise in precious metals, due to it sucking up most of the available value on global markets.

Silver Market Morning: March-22-2016

As we see negative yields popping up in several countries and likely more to come, gold is now ‘yielding’ more than such currencies. Mervyn King, ex-Governor of the Bank of England, pointed out yesterday that interest rates are now a central bank tool to lower exchange rates. It is traditional thinking to believe that yield is very important and they will run to deposits as low-risk places to park savings. Today, such thinking is almost irresponsible, because you could deposit your money in the U.S. dollar, say, a month ago, to get a miniscule annual yield [before fees] and see it fall 4%+ within just a month! It’s worse in most other currencies! Gold, meanwhile, is an anchor to value.

Whither Peak Silver?

The United States Geological Survey recently published its silver summary and it turned out to be yet another record year of global mine production for silver. The 2015 estimate will be revised, but in the last twenty years, only four years (2000, 2003, 2005, and 2011) have been revised downwards in the subsequent summary.

March 21: Gold and Silver End Mixed

Gold dropped $12.64 to $1240.76 in Asia before it bounced back higher in London, but it then drifted back lower in New York and ended with a loss of 0.74%. Silver slipped to as low as $15.703 before it popped back to $15.895 and then chopped back lower, but it still ended with a gain of 0.19%.

Silver – A Long-Term Perspective

The price of silver, as indicated by the ratio to the DJIA, is near a multi-decade low. Expect the price of silver to rally substantially in 2016 – 2020. $50 silver is coming, probably fairly soon. $100 silver will take longer.

Silver Gone Wild

This week, scarcity synced back up with the price of the dollar again. Note the big drop in the cobasis, and big rise in the basis. Silver for May delivery is in a nice contango, though the 38 bps you could earn to carry silver is a bit under LIBOR. The silver fundamental dropped over a nickel this week. It’s more than a buck below the market price.

Mines Management Inc. Engages Financial Advisor

MINES MANAGEMENT, INC. (NYSE-MKT: "MGN", TSX: "MGT")(the "Company") is pleased to announce that it has retained Canaccord Genuity Corp. ("Canaccord") as financial advisor to the Company to assist in reviewing and developing strategic options to enhance shareholder value. Canaccord is an independent, global, full-service investment bank focused on growth companies in the mining sector, and has provided advisory services in connection with some of the largest mining transactions in recent years.

Silver Market Morning: March-21-2016 -- Gold consolidating but firm at these levels, silver rising!

Silver – The silver price is running ahead of gold as it rises then holds its gains while gold pulls back then runs when gold rises slightly. If this trend continues, silver will continue to outperform gold, for sure. It is clearly visible that the usual source of silver [as a by-product of base metals] is falling, so supplies are dropping. But it the silver-gold ratio that is attracting market attention as it makes silver historically ‘cheap’.

March 18: Gold and Silver End Slightly Higher on the Week

Gold gained $8.58 to $1265.48 in Asia before it dropped down to $1248.01 in London and then bounced back higher in New York, but it still ended with a loss of 0.28%. Silver slipped to as low as $15.728 and ended with a loss of 0.69%.

Silver Fundamentals: The Numbers Don’t Lie

Many readers are familiar with this cliché, but few understand its real significance . Numbers don’t lie, meaning the raw data which we collect on a nearly infinite number of subjects. Statistics, on the other hand, are rarely just raw data. Instead, they are numbers that have been massaged (i.e. manipulated) with various adjustments.

Silver leads weekly gains for metals

Gold and silver are on track for solid weekly gains as the dollar trades at its lowest level in five months due to reduced expectations for a string of U.S. interest-rate hikes. Silver has been the bigger mover this week. The metal rose more than 1% at one point Friday to its highest level since late October, before pulling back to trade little changed. Silver prices are up almost 4% this week after ending marginally lower last week. At last check, May silver SIK6, -0.42% traded at $16.04 an ounce, after hitting an intraday high of $16.17.

Silver Soars 4%, Gold Consolidates On Dovish Fed

Silver rose 2% yesterday and has surged 4% this week to over $16 per ounce as the Federal Reserve flip flopped regarding interest rates and lowered its expectations for rate rises this year from four back to two or just one rate rise due to “global risks.”

March 17: Gold Ends Slightly Lower While Silver Gains Nearly 2%

Gold saw slight losses in Asia before it rose to as high as $1270.88 in London, but it then drifted back lower in New York and ended with a loss of 0.33%. Silver surged to as high as $16.031 before it also edged back lower in the last few hours of trade, but it still ended with a gain of 1.79%.

David Morgan: Silver under $16 Is Limited, Serious Backlash If Futures Market Breaks

Coming up we’ll hear from David Morgan of the The Morgan Report to get his take on the advance in the metals so far this year, how long it’s likely to continue, and whether or not the Silver Guru is concerned that silver is lagging gold during this rally. Don’t miss a fantastic interview with David Morgan coming up after this week’s market update.

March 16: Gold and Silver Gain Over 2%

Gold edged up to $1235.09 in Asia before it dropped back to $1227.01 in early New York trade, but it then shot higher after today’s fed announcement and ended near its late session high of $1262.87 with a gain of 2.25%. Silver jumped to as high as $15.639 and ended with a gain of 2.23%.

March 15: Gold and Silver Hold Near Unchanged Before Fed Day

Gold fell $7.76 to $1225.84 in early Asian trade before it bounced back to $1237.37 in London, but it then drifted back lower in New York and ended with a loss of 0.02%. Silver slipped to as low as $15.192 and ended with a loss of 0.26%.

May 13: Gold and Silver End Slightly Lower

Gold dropped down to $1289.16 by a little after 7AM EST before it spiked up to $1298.42 in the next hour and a half of trade, but it then drifted back lower into the close and ended with a loss of 0.26%. Silver slipped to $19.364 before it rebounded to $19.593 and then also fell back off, but it ended with a loss of just 0.1%.

First Majestic Reports First Quarter Financial Results

"After three years of aggressive capital spending to build and expand four of our silver operations, the Company is planning to take a short breather to focus on treasury growth and free cash flow. As the expansionary capital investments at both Del Toro and San Martin come to an end, we look forward to the increased production and improved efficiencies. We still have a lot of work ahead of us to accomplish our next goal of reaching 20 million ounces of production per year; however, given the low silver price environment focusing on further cost reductions and treasury growth continues to be management's top priority."

Silver Market Morning

The gold price closed at $1,293.30 down $3.40 on Tuesday, in New York. In Asia the price rose slightly, but London lifted it over $1,300 at the opening. The gold Fixing was set at $1,300.25 up $7.50 and in the euro at €948.326 up €8.418 while the euro stood at $1.3711 nearly half a cent weaker. Ahead of New York’s opening the gold price stood at $1,301.50 and in the euro at €948.89.

Silver Market Morning

The gold price closed at $1,306.10 up $12.80 on Wednesday, in New York. In Asia the price rose slightly, but London lifted it over $1,300 at the opening. The gold Fixing was set at $1,303.75 up $3.50 and in the euro at €953.731 up €5.405 while the euro stood at $1.3700 weaker again. Ahead of New York’s opening the gold price stood at $1,304.20 and in the euro at €955.00.

Market Report: Firmer tone for gold and silver

This week started with a severe markdown in gold and silver prices when markets opened in the Far East on Monday morning, taking gold down $12 to $1278 and silver only 12 cents to $19.03. The clue in this was the resilience of silver, which hardly moved: it was an attack on the gold price presumably designed to take out stop-losses.

Silver Market Morning

The gold price closed at $1,293.1 down $2.50 on Monday, in New York. In Asia the price dropped to $1,291 ahead of London’s opening, where London held it. The gold Fixing was set at $1,291.50 down $9.50 and in the euro at €943.458 down €5.208 while the euro stood at $1.3689. Ahead of New York’s opening the gold price stood at $1,293.00 and in the euro at €943.45.

The Mises View: "Silver Money and Inflation"

Mark Thornton explains how silver money keeps inflation in check. Thornton is a Senior Fellow at the Mises Institute.

Silver Market Morning: May 30, 2014

There are reports out there that say that there is a gold deficit of around 4.35 tonnes a week, meaning that more gold is being bought than produced. That’s why the SPDR sales are important if the gold price is to be held at current levels. This makes the fall this week even more difficult to understand. The lack of visible physical sales of gold from speculators and the investors, tells us that there is very little momentum behind the downward path of gold and it can turn around in a heartbeat. We therefore attribute the fall to a temporary drop in demand due to wholesalers looking for lower prices. But they can only do this for a short while.

Silver Market Morning

The gold price closed at $1,246.30 on Tuesday, up $3.20 cents in New York. In Asia and London the price slipped slightly by $1 until the Fix, where it was set at $1,246.00 up $1.75 and in the euro at €915.840 up €1.421, while the euro stood at $1.3605. Ahead of the opening in New York the gold price was trading at $1,246.00 and in the euro at €915.27.

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").

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%.

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.

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.

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.

Silver Market Morning: June 20, 2014

In 1973 the oil price jumped from $8 a barrel to $35 a barrel while gold jumped from $42 an ounce to over $120 an ounce. We do not see a direct link over the years between the two. What we do see is a moving up together in times of, not only political crisis, but monetary crisis. In those days the dollar was suspect and continued so until Volker forced interest rates up to 26% in the mid 1980’. We are moving back into days of tremendous uncertainty as the ripples from the sectarian violence spread through the financial markets of the world.

Excellon resumes drilling at La Platosa

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report the resumption of diamond drilling at its 100%-owned La Platosa Mine located in Durango State, Mexico.

Silver Market Morning

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

July 7: Gold and Silver End Near Unchanged

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

July 14: Gold and Silver Fall Over 2%

Gold dropped $34.39 to $1303.31 at about 9:30AM EST before it stabilized, but it still ended with a loss of 2.32%. Silver slipped to as low as $20.849 and ended with a loss of 2.38%.

Excellon reports second quarter 2014 production

TORONTO, July 16, 2014 /CNW/ - Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce second quarter 2014 production results from the La Platosa Mine in Durango, Mexico.

July 17: Gold and Silver Gain Almost 2%

Gold gained almost $10 to $1308.21 in Asia before it fell back to $1299.65 in London, but it then jumped to as high as $1323.23 in New York and ended with a gain of 1.62%. Silver surged to as high as $21.18 and ended with a gain of 1.88%.

July 24: Gold and Silver Fall Almost 1% and 3%

Gold fell almost $10 to $1294.96 in Asia before it bounced back to $1300.83 in London, but it then fell to a new 5-week low of $1287.79 in New York and ended with a loss of 0.96%. Silver slipped to as low as $20.315 and ended with a loss of 2.63%.

One of the most blatant examples ever

This week has been one of the most blatant examples of naked PM shorting ever, amidst some of the most PM-bullish news ever. Particularly, yesterday's transparent attacks as TPTB pulled out all stops to push the 10-year Treasury yield above 2.5% couldn't be more obvious - as I forensically described in yesterday's AudioBlog, "best laid plans." And what a shock, Monday is COMEX options expiration day - when no doubt, countless $1,300 and $21 options for gold and silver, respectively, were outstanding.

Excellon Reports Second Quarter 2014 Financial Results

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report financial results for the three and six-month periods ended June 30, 2014.

July 30: Gold and Silver Close Mixed and Near Unchanged

Gold dropped $8.89 to $1291.71 just after this morning GDP announcement before it bounced back to $1303.12 and then fell back towards its earlier low by late morning in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.3%. Silver fell to as low as $20.45 at one point, but it then bounced back higher in the last five hours of trade and ended with a gain of 0.1%.

July 18: Gold and Silver End Slightly Lower

Gold climbed to $1584.69 in Asia before it fell back to as low as $1567.62 by about 9AM EST, but it then climbed back to as high as $1582.53 in late morning New York trade and ended with a loss of just 0.28%. Silver rose to $27.30 before it dropped back to $26.90, but it then rose to a new session high of $27.31 and ended with a loss of just 0.07%.

COMEX Silver Inventory Update: -85,010.678 ounces

COMEX Silver Inventory Update: -85,010.678 ounces

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.

Hecla makes hostile takeover bid for U.S. Silver Corp

Hecla Mining Co made an all-cash hostile bid to buy U.S. Silver Corp for C$110.7 million, a month after the Canadian company agreed to be bought by RX Gold & Silver Inc.

July 26: Gold and Silver Gain Almost 1%

Gold jumped to as high as $1621.37 before it fell back off a bit in New York, but it still ended with a gain of 0.69%. Silver surged to as high as $27.815 and ended with a gain of 0.55%.

COMEX Silver Inventory Update: +845,625.07 ounces

COMEX Silver Inventory Update: +845,625.07 ounces

U.S. Silver Board Recommends Rejection of Hecla Offer and Reaffirms Recommendation for Combination Transaction with RX Gold

U.S. Silver Corporation (USA.TO) ("U.S. Silver" or the "Company") announced that its Board of Directors unanimously recommends that U.S. Silver shareholders REJECT the unsolicited cash offer from Hecla Mining Company ("Hecla") to acquire all of the outstanding common shares of U.S. Silver (the "Hecla Offer").

Fed Signals More Steps to Spur Economy Amid Slower Growth

“Economic activity decelerated somewhat over the first half of this year,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. “The committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.”

iShares Silver Trust: 9,759.01 tonnes

iShares Silver Trust: 9,759.01 tonnes

August 8: Gold and Silver End Near Unchanged

Gold fell $8.20 to $1603.40 by a little after 8AM EST before it rallied to as high as $1616.49 in the next hour and a half of trade, but it then drifted back lower midday and ended with a gain of just 0.07%. Silver slipped to $27.699 before it rose to $28.246 by late morning in New York, but it then fell back off in afternoon trade and ended with loss of 0.32%.

Silver Market Morning

New York gold closed at $1,599.60 down $8.70. London took gold down to $1,594 ahead of the Fix after which it Fixed at $1,594.74 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,293.600 down €12 on yesterday morning. Ahead of New York’s opening gold looked slightly stronger at $1,595.60 in the middle and in the euro at €1,299.40.

iShares Silver Trust: 9,691.18 tonnes

iShares Silver Trust: 9,691.18 tonnes

August 15: Gold and Silver End Slightly Higher

Gold edged up to $1603.09 in Asia before it fell back to $1590.08 at about 4AM EST, but it then rose to as high as $1605.83 in New York and ended with a gain of 0.28%. Silver slipped to as low as $27.496 at about 4AM EST, but it then rose to as high as $27.99 in New York and ended with a gain of 0.07%.

Silver Market Morning

New York gold closed at $1,604.10. London held gold there through the morning right up to the Fix where it Fixed at $1,603.50 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,306.739, up €13 on yesterday. Ahead of New York’s opening, gold was steady at $1,603.55 in the middle and in the euro at €1,306.62.

iShares Silver Trust: 9,733.39 tonnes

iShares Silver Trust: 9,733.39 tonnes

SilverCrest Announces Trading on NYSE MKT to Commence August 27, 2012

SilverCrest Mines Inc. (SVL.V)(STVZF) ("SilverCrest" or the "Company") is pleased to announce that its common shares have been authorized for listing on the NYSE MKT in New York. The shares will begin trading on the NYSE MKT on August 27, 2012 under the trading symbol "SVLC". The Company's common shares will continue to be listed on the TSX Venture Exchange under the trading symbol "SVL".

Silver Tacks on the "30" Handle

Silver needs to close out the week on a strong note to punch through the downtrending resistance line noted on this weekly chart. The ability to put a handle of "30" in front of the price is extremely helpful from both a psychological and technical perspective but a solid trending move is still not yet in the cards until silver can decisively gain the $32.50 level. Even at that, dip buyers should begin making their appearance in this market as the technical posture has changed significantly this week.

Huldra Silver Receives Geochemistry Results Up to 124 Grams Per Tonne Silver

Vancouver, British Columbia – December 7, 2011 – Huldra Silver Inc. (TSX-V:HDA, HUSIF.PK) (the "Company" or "...

Scorpio Mining Reports Record 2011 Production Results and 2012 Guidance for Nuestra Señora

Scorpio Mining Corporation (TSX: SPM.TO) ("Scorpio Mining" or the "Corporation") is pleased to report that the 2011 production results for the...

Silver Eagles Soar

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Is the silver surge sustainable?

Silver has been about the best performing metal commodity so far this year, currently fetching more than 25% more than it did at the close of 2011...

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