• Gold: 1,213.02 -2.60
  • Silver: 17.13 -0.04
  • Euro: 1.069 -0.001
  • USDX: 100.66 0.16
  • Oil: 53.45 0.94

January 17: Gold and Silver Gain Over 1% and 2%

10 hours 41 min ago

Gold traded mostly modestly higher in holiday thinned trade yesterday and rose to as high as $1218.68 in London today before it chopped back lower at times in New York, but it still ended with a gain of 1.44% from Friday’s close. Silver rose to as high as $17.20 and ended with a gain of 2.2%.

Golden Arrow Reports Final Chinchillas Phase VI Drill Results & Expands Mineralization to the East

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF)(WKN:A0B6XQ) ("Golden Arrow") is pleased to announce the results of assaying of the final twelve drill holes in the Phase VI drilling program at its Chinchillas Silver Project in Jujuy Province, Argentina.

Fortuna Announces Change in the Board of Directors

Fortuna Silver Mines Inc. (FVI.TO)(FSM) Mr. Simon Ridgway, Chairman of the Board, is pleased to announce the appointment of Mr. David Laing to the Board of Directors of the company.

Deutsche Fuels Silver

Last week, it was the Fed’s magic boosting up the price of silver. This week, the slow slide in the silver price resumed, going all week except during peak fear about the woes of Deutsche Bank. When it looked bleakest—and the potential size of the capital-eating fines was highest—there was a wicked little rally in the metals, spiking silver up from below $19.10 to $19.70 in a few hours. However, the price reversed just as fast, on news of a settlement with the US Department of Justice.

Silver Market Morning: Oct-3-2016 -- Gold and silver struggling at support!

Once again we see lower prices dominating while Shanghai is on holiday. New York prices dominate when China is closed. The Yuan is now part of the SDR of the IMF, for the Chinese an important step on the way to international acceptability as a global currency. We expect to see its use accelerate from now on. Today’s Yuan exchange rate is merely academics because of the holiday there.

September 30: Gold and Silver Fall Roughly 2% on the Week

Gold gained $6.59 to $1327.99 at about 9AM EST before it chopped down to $1314.19 in early afternoon New York trade, but it then bounced back higher in late trade and ended with a loss of just 0.3%. Silver surged over 3% to $19.692 before it also fell back off, but it still ended with a gain of 0.47%.

Market Report: Option expiry and Deutsche Bank

This week, a collapse of Deutsche Bank was openly discussed in the general media, and there are signs that institutional depositors in wholesale money markets have begun to minimise their exposure. The result is that DB’s shares on Wall Street last night dropped 7% into new low ground and continued this weakness overnight (Thursday/Friday) into the Frankfurt opening in heavy volume.

Silver Market Morning: Sep-30-2016 -- Gold and silver hold at support!

Look at the difference between New York’s close and Shanghai’s p.m. fix! With the Yuan becoming one of the currencies in the SDR tomorrow we are closely watching to see if there is any change in a range of Chinese activities. Many feel that the Yuan has done little internationally so far, so why should it change now? We feel, as you know, that China has been holding back until this moment came. From now on we will see the action in the currency, etc. going forward.

September 29: Gold and Silver End Slightly Lower While Stocks Drop Roughly 1%

Gold saw slight gains in Asia before it fell to see a $6.78 loss at $1316.12 in late morning New York trade and then bounced back above unchanged in early afternoon action, but it then fell back off again into the close and ended with a loss of 0.11%. Silver slipped to $19.008 and ended with a loss of 0.47%.

Silver Market Morning: Sep-29-2016 -- Gold and silver hold at support!

It is ironic that central bankers continue to hold huge stocks of gold as they fear the same dangers both from their own behavior and that of other bankers. It is this that leads us to conclude that if confidence is massively lost in the financial system, governments will assume control over cash, silver and gold. With their being no likelihood of a change in the morality of bankers, it is inevitable that at some point in the future, governments through their central bankers will assume total control of these elements within their own Jurisdictions.

September 28: Gold and Silver End Mixed While Oil Jumps

Gold dipped $4.46 to $1322.74 in Asia before it edged back to $1326.89 in London and then fell to a new session low of $1318.20 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.32%. Silver slipped to as low as $18.916 at one point, but it then rallied back higher into the close and ended with a gain of 0.1%.

2017: Gold and Silver's Year of "Public Recognition"

Late August into September ushered in an intermediate and much needed correction to the year's blistering uptrend for the metals and miners. If you believe, as we do, that the new bull run for gold and silver has at least several more years to run, then going against your emotions and adding to your position – or starting a new one – is the right thing to do.

September 27: Gold and Silver Fall Roughly 1%

Gold dropped $12.09 to $1325.21 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.76%. Silver slipped to as low as $18.982 and ended with a loss of 1.34%.

Silver Market Morning: Sep-27-2016 -- Gold and silver still building strength!

For gold investors and macro-economic followers, the issues seem to be simpler. We have had for several years now a government that was gridlocked [emasculated?] as regards taking effective action. A Clinton Presidency would continue that [good for gold prices]. A Trump Presidency would remove that and give power to ‘government’ to act decisively once more. We see a large potential for globally divisive policies [good for gold prices too] under such a presidency.

September 26: Gold and Silver Fall With Stocks and Dollar

Gold fell $5.11 to $1332.79 in Asia before it bounced back to $1342.17 in morning New York trade, but it then chopped back lower into the close and ended with a loss of 0.045%. Silver slipped to as low as $19.374 and ended with a loss of 1.32%.

Silver Market Morning: Sep-26-2016 -- Gold and silver building strength!

Since the last announcement from the Bank of Japan, where little was changed, Mr. Kuroda of the bank has spoken in such a way as to encourage a weaker Yen, saying he would venture further into negative interests rates should the need arise. It had little impact on the dollar: Yen exchange rate. In the E.U. Draghi is being more forthright and calling for governments to implement structural reforms to spur growth. We doubt member state governments are listening let alone planning to do anything, even going so far as to point fingers at Draghi and the E.C.B.

Joseph Grosso: A Return to Values That Support Our Currencies (Video)

Since 1913 the Federal Reserve has dictated monetary policy in the U.S. and beginning in 1971 initiated a system to dictate monetary policy to the world. The birth of the “petrodollar” has forced countries, around the world, to use the Federal Reserve Note to purchase oil produced by the OPEC nations. This has allowed the U.S. economy to sustain an unsustainable lifestyle based on debt. This system is coming to an end. The world is awakening to the game the U.S. Treasury has been playing as they have hidden by the Federal Reserve firewall.

September 23: Gold and Silver Gain About 2% and 5% on the Week

Gold edged down to $1333.80 in Asia before it climbed up to $1340.56 in early New York trade and then chopped back lower into the close, but it still ended with a gain of 0.06%. Silver slipped to as low as $19.585 and ended with a loss of 1.21%.

Market Report: Weak policies equal higher gold prices

Gold and silver had begun to rally ahead of the interest rate announcements, and following the Fed’s on Wednesday night, gold jumped 2%, and silver by 4%. Silver in particular has had a good week, with the dollar price rising from a low of $18.78 to a high yesterday (Thursday) of $20.07, up nearly 7%. This morning it had eased to $19.80 in early European trade. Gold rose from a Monday low of $1309.5 to a high of $1343.7 yesterday, a rise of 2.6%.

Silver Market Morning: Sep-23-2016 -- Gold and silver challenging overhead resistance!

Looking back over the week, we have seen overall U.S. demand for the shares of U.S. based gold ETFs strong and sales standing back waiting to see where gold prices will go from here. A critical question to ask is, “Have the major sellers exited the market?” If they have we could see decisive action from physical gold demand ahead.

September 22: Gold and Silver End Slightly Higher

Gold edged down to $1331.45 in Asia before it climbed up to $1343.53 by midday in New York and then fell back off in the next few hours of trade, but it still ended with a gain of 0.23%. Silver rose to as high as $20.052 and ended with a gain of 0.35%.

Silver Price Forecast: Higher Silver Prices For Many Years To Come

The current season is ideal for silver and gold rallies, and this increases the likelihood that the above patterns will resolve soon. Furthermore, we are also in stock market crash season, which could be the greatest driver for the coming silver rally, since significant nominal peaks in the price of silver tend to come after significant nominal peaks in the Dow (I have written about this extensively).

Silver Market Morning: Sep-22-2016 -- Gold and silver jumping in dollars, not Euros, after the Fed!

We have a different take on the Fed’s announcement than the one that’s being reported inside the U.S. We see Janet Yellen and her team, although divided, paying great attention to the impact on the dollar, as we have said many times before. Most U.S. institutions look at the U.S. as being the driver of the rest of the world, leading the way forward. But the reality is that the U.S. is not an island, as shown by the dollar’s price in other currencies.

September 21: Gold Gains and Silver Surges Over 3% Higher

Gold dipped $3.64 to $1310.96 in Asia before it rallied up to $1329.39 at about 8AM EST and then drifted back lower at times, but it then jumped up to $1335.12 after today’s fed statement and ended with a gain of 1.48%. Silver rose to as high as $19.864 and ended with a gain of 3.12%.

Golden Arrow Advances Mine Permitting at Chinchillas Silver Project

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF)(WKN:A0B6XQ) ("Golden Arrow") is pleased to announce that the Environmental Report ("ER") for exploitation at the Chinchillas project has been submitted to the mining authority in the Province of Jujuy.

Silver Market Morning: Sep-21-2016 --Gold and silver waiting for the Fed!

There were substantial sales from the SPDR gold ETF yesterday, but Shanghai ignored it then London tried to pull prices back, to sit in the middle between New York and Shanghai. This is only the second time Shanghai has walked its own road very clearly. Before, exchange rate changes could have explained the moves, but not this time. If this pattern is continued pricing power will be shifting to China from New York.

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%.

Silver Market Morning

The gold price closed at $1,296.80 down $3.80 on Wednesday in New York. In Asia and early London, prices fell to $1,294 as the euro continued to slip to $1.3391. The gold price was Fixed at $1,295.00 down $2.50 and in the euro at €966.923 down €1.505, while the euro was weaker at $1.3393. Ahead of New York’s opening, gold was trading at $1,295.10 and in the euro at €967.43.

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...

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