• Gold: 1,093.77 -1.31
  • Silver: 14.76 0.05
  • Euro: 1.098 0.000
  • USDX: N/A N/A
  • Oil: N/A N/A

The Silver Manipulation Con Continues at the Highest Levels of Government

2 hours 40 min ago

The US Mint is not a very good liar. They are manipulating their sales data to stifle silver investor sentiment. My fight with the US Mint goes back 7 years. I wrote them in June 2008 to point out that stopping production of the US Silver Eagles was AGAINST THE LAW because the law required them to produce SAE's "in quantities sufficient to meet public demand." Since that time, and through my continual pestering over the years, they CHANGED THE LAW to make the US Treasury Secretary the one who decides if the coins are being produced to meet demand and only he has the power to stop or limit production.

May 7: Gold and Silver Fall But Miners Gain

Gold dropped $11.57 to $1180.13 at about 8:30AM EST before it bounced back higher in the next hour of trade, but it then drifted back lower into midday and ended with a loss of 0.74%. Silver slipped to as low as $16.209 ended with a loss of 1.15%.

SilverCrest Accelerates Exploration of High Grade El Cholugo Zone at Santa Elena Mine

SilverCrest Mines Inc. (“SilverCrest” or the “Company”) is pleased to announce initial results of its accelerated underground exploration of the El Cholugo Zone (“El Cholugo” or the “Zone”) located immediately adjacent to the Main Mineralized Zone (“MMZ”) currently in production at the Santa Elena Mine, Sonora, Mexico. SilverCrest's recently released technical report titled, “Update to Santa Elena Pre-Feasibility Study, Sonora, Mexico” (“PFS”), contemplated the exploration and development of El Cholugo in 2016.

Controlling copper and silver prices

There is an unwarranted assumption that market prices are always right, and represent "fair value". In the case of commodities, particularly metals, this is not necessarily true, because regulated financial markets make it too easy for government agencies and large banks to game the system.

Silver Market Morning

New York closed at $1,191.70 down $1.20, yesterday. Asia saw it fall to $1,182 ahead of London’s opening with London then taking it down a dollar. The LBMA Gold price was set at $1,183.00 down $8.25 on yesterday. The euro equivalent stood at €1,041.92 down €20.19 while the dollar was weaker at $1.1351 down from $1.1211 against the euro. Ahead of New York’s opening, gold was trading slightly higher in London at $1,183.50 and in the euro at €1,042.46.

Silver Mine Supply Is Running Out of Steam

After 12 straight years of gains, global silver production is expected to fall in 2015 as lower prices take a toll. Silver mine production rose 5% in 2014 to reach 877.5 million ounces, the 12th successive gain and a new record, according to the World Silver Survey, published by industry lobby group The Silver Institute and metals consultancy Thomson Reuters GFMS.

May 6: Gold and Silver End Slightly Lower

Gold edged up to $1197.03 in Asia before it fell back to $1188.49 in London and then rose to a new session high of $1197.34 in early New York trade, but it then drifted back lower into midday and ended with a loss of 0.1%. Silver slipped to a low as $16.39 and ended with a loss of 0.24%.

Can Gold Save the World From the Credit Bubble?

It has been reported that global debt is about $200 Trillion. Central banks supposedly hold about 30,000 tons of gold. If the total debt were backed by central bank gold at 40%, that would price gold about $80,000 per ounce. In the US, the official gold reserve, which has not been audited in about 60 years, is about 8,200 tons. Official national debt is about $18 Trillion. If the official gold backed the debt at 100%, the price of gold would be about $70,000 per ounce.

Silver Market Morning

New York closed at $1,192.90 up $4.10 yesterday. Asia held it there and so did London. The LBMA Gold price was set at $1,191.25 up $3.85 over yesterday. The euro equivalent stood at €1,062 .11 down €8.12 while the dollar was weaker at $1.1211 down from $1.1011 against the euro. Ahead of New York’s opening, gold was trading slightly lower in London at $1,190.60 and in the euro at €1,059.63.

May 5: Gold and Silver Gain While Stocks Fall

Gold climbed $10.90 to $1199.70 at about 10AM EST before it chopped back lower into the close, but it still ended with a gain of 0.35%. Silver rose to as high as $16.706 and ended with a gain of 0.73%.

Can You Put Your Brainpower into Overdrive?

Giurgea synthesized piracetam, the first nootropic, in 1964, and he subsequently established a set of criteria these drugs should meet. For him, nootropics must enhance learning, increase the coupling of the brain’s hemispheres, and improve executive processing (which involves tasks such as planning, paying attention, and spatial awareness). It was also important to him that the drugs be nontoxic and nonaddictive. As he put it in his book Fundamentals to a Pharmacology of the Mind: “Man is not going to wait passively for millions of years before evolution offers him a better brain.”

Silver Market Morning

New York closed at $1,188.80 on Monday. Asia held it there and so did London. The LBMA Gold price was set at $1,187.40 up $8.40 on Friday. The euro equivalent stood at €1,070.69 up €23.62 while the dollar was stronger at $1.1090 up from $1.1260 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,187.60 and in the euro at €1,069.09.

May 4: Gold and Silver Gain Almost 1% and 2%

Gold climbed to as high as $1192.62 at about 10:30AM EST before it chopped back lower at times, but it still ended with a gain of 0.92%. Silver rose to as high as $16.717 and ended with a gain of 1.61%.

Silver and NASDAQ – Long, Medium and Short Trends

Courtesy of the High-Frequency-Traders and a wave of digital “money printing” the NASDAQ closed at a new high on Friday the 24th – a 15 year high. Silver, on the other hand, has been crushed – the near all-time high was 4 years ago. In this tale of two markets, we examine the silver to NASDAQ ratio over the long and medium term for clues about their next major moves.

May 1: Gold Slips but Silver Gains Almost 3% on the Week

Gold edged up to $1183.70 in Asia before it fell back to $1170.79 by midday in New York and then bounced back higher into the close, but it still ended with a loss of 0.41%. Silver slipped to as low as $15.949 by late morning in New York, but it then rallied back higher in the last five hours of trade and ended with a gain of 0.25%.

Silver - Four Years Later

Based on the 30 year ratios to the S&P 500 index, gold, and crude oil, silver is currently inexpensive. The High-Frequency-Traders can push prices lower or higher quite easily so this analysis says little about what silver prices will do next week or next month, but it clearly says that in the long-term silver prices are low and likely to rise significantly in the next few years.

Market Report: Bear squeeze comes and goes

This week started with a sharp bear squeeze, which took gold from $1178 to $1214, and silver from $15.70 to $16.71.

Silver Market Morning

New York closed at $1,182.80 down $21.20 on Thursday. Asia saw it hold there and London took down $3. The LBMA Gold price was set at $1,179.00 down $25.30. The euro equivalent stood at €1,047.07 down €29.06 while the dollar was weaker at $1.1260 down from $1.1192 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,180.40 and in the euro at €1,047.24.

JP Morgan Cornering Silver Bullion Market?

- Why is JP Morgan accumulating the biggest stockpile of physical silver in history? - Legendary silver analyst Ted Butler believes JP Morgan are in a position to corner silver market - JP Morgan may be holding as much as 350 million ounces of physical silver - JP Morgan realises the value of owning physical silver bullion today - Silver at $16 today – Set to soar to over $50 again

April 30: Gold and Silver Fall Roughly 2%

Gold waffled between $1199.95 and $1207.23 in Asia before it fell all of the way back to $1176.94 by a little after 10AM EST and then bounced back higher into the close, but it still ended with a loss of 1.76%. Silver slipped to as low as $15.816 and ended with a loss of 2.48%.

Fortuna to Release First Quarter Financial Results on May 8, 2015; Conference Call at 12 P.M. Eastern on May 11, 2015

Fortuna Silver Mines Inc. (FSM)(FVI.TO) announces that it will release its financial statements and MD&A for the first quarter after the market closes on Friday, May 8, 2015.

Silver Market Morning

New York closed at $1,204.00 down $8.20 on Wednesday. Asia saw it hold there and London took it up a dollar. The LBMA Gold price was set at $1,204.30 down only 50 cents. The euro equivalent stood at €1,076.13 down almost €20 while the dollar was weaker at $1.1192 down from $1.0993 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,203.40 and in the euro at €1,075.81.

April 29: Gold and Silver Fall With Stocks

Gold fell $7.81 to $1204.39 at about 5:40AM EST before it bounced back to $1213.69 in the next few hours of trade and then dropped to as low as $1201.69 after the release of today’s fed statement, but it then edged back higher in late trade and ended with a loss of just 0.68%. Silver slipped to $16.427 before it bounced back to $16.718 and then fell back off into the close, but it ended with a loss of just 0.48%.

With a Bang or a Whimper (How the Financial World Resets)

We survived other resets, such as the depression of the 1930s, WWII, 1971 separation of the dollar from gold, 1970s inflation, year 2000 stock crashes, and the 2008 financial crash. The world will survive the next reset. Excess debt, fiat currencies, and “printing currency” are the center of global economic problems. Those problems will not be resolved with more debt and “printing currency.”

Silver Market Morning

New York closed at $1,212.20 up $9.80 on Tuesday. Asia saw it slip to $1,208 and London held it there. The LBMA Gold price was set at $1,204.80 below market trading prices and up $3.40. The euro equivalent stood at €1,096.17 down €4.52 while the dollar was weaker at $1.0993 down from $1.0916 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,206.20 and in the euro at €1,096.65.

April 28: Gold and Silver Gain Roughly 1% More

Gold dipped $3.01 to $1199.39 in Asia before it edged up to $1205.47 in London and then dropped back to $1201.46 after this morning’s housing data was released, but it then shot to as high as $1214.91 by early afternoon in New York and ended with a gain of 0.82%. Silver slipped to $16.33 in Asia, but it then rose to as high as $16.689 in New York and ended with a gain of 1.4%.

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...

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