• Gold: 1,183.25 -4.95
  • Silver: 15.14 -0.08
  • Euro: 1.125 -0.005
  • USDX: 96.211 0.162
  • Oil: 28.42 0.06

February 9: Gold and Silver End Slightly Lower

13 hours 18 min ago

Gold edged down to $1185.75 in Asia before it chopped up to $1198.93 in early afternoon New York trade, but it then fell back off into the close and ended with a loss of 0.2%. Silver slipped to as low as $15.184 and ended with a loss of 0.52%.

October 29: Gold and Silver Fall About 1% and 2%

Gold edged up to $1162.69 in Asia, but it then drifted back lower in London and New York and ended with a loss of 0.95%. Silver slipped to as low as $15.559 and ended with a loss of 2.44%.

Silver Market Morning: October-29-2015

New York closed at $1,156.80 at the close on Wednesday but then rose to $1,162 in Asia overnight. London then lowered it back to $1,159.60. The LBMA price setting fixed it at $1,159.00. The dollar Index has risen and now stands at 97.37 and remains well below its peak of over 100. The dollar was trading against the euro at $1.0931 reflecting the dollar’s strength. In the euro the fixing was €1,056.52. At New York’s opening gold was trading in the euro at €1,056.75 and at $1,156.70.

October 28: Gold and Silver End Mixed After Fed Statement

Gold climbed $16.57 to $1182.97 by a little after 10AM EST before it fell to as low as $1152.30 after the release of today’s fed statement, but it then edged back higher in the last 75 minutes of trade and ended with a loss of just 0.82%. Silver climbed up to $16.356 before it dropped back to $15.72, but it then rallied back higher in late trade and ended with a gain of 0.69%.

GoldSeek Nugget: John Embry and Chris Waltzek

GoldSeek Radio's Chris Waltzek talks to John Embry, Chief Investment Strategist at Sprott Asset Management.

October 27: Gold and Silver Hold Near Unchanged Again, But End With Gains

Gold bumped up to $1168.23 by a little after 8AM EST before it fell back to $1161.28 in the next 45 minutes of trade, but it then bounced back higher into late morning and ended with a gain of 0.23%. Silver slipped to $15.793 before it rallied back to $15.949 and then fell back off into the close, but it still ended with a gain of 0.13%.

October 26: Gold and Silver End Near Unchanged

Gold dipped $2.02 to $1162.58 in Asia before it bounced back to $1168.38 in midmorning New York trade and then fell back off into the close, but it ended with a loss of just 0.08%. Silver rose to as high as $15.983 and ended unchanged on the day.

October 23: Gold and Silver Fall Almost 1% on the Week

Gold gained $13.11 to $1179.41 at about 8AM EST before it fell back to $1159.15 in the next couple of hours of trade, but it then rallied back higher into the close and ended with a loss of just 0.15%. Silver rose to $16.087 before it dropped back to $15.719, but it then bounced back higher and ended with a gain of 0.13%.

Another Government Ponzi Scheme Starts to Crack - Do You Depend on It?

As long as the government spends money, it will find some way to make you pay for it - either through direct taxation, money printing, or debt (which represents deferred taxation/money printing). It’s as simple as that. Like most other governments that get into financial trouble, I think they’ll opt for the easy option…money printing.

Decline of the dollar – the consequences

There are signs that the US dollar, instead of consolidating the sharp rise that peaked last March, might be reversing its previously rising trend.

Silver bullion coins are scarce, but prices don’t show it

Silver bullion coins are so scarce that certain countries have set limits on the amount they distribute, but prices for the metal haven’t budged much from their recent six-year low.

October 22: Gold Dips While Silver Rises

Gold edged up to $1169.35 in London before it fell back to $1163.05 at about 9:30 AM EST and then shot up to $1171.84 in the next hour of trade, but it then drifted back lower into the close and ended with a loss of 0.09%. Silver rose to as high as $15.919 before it also fell back off, but it still ended with a gain of 0.83%.

Silver Market Morning: October-22-2015

New York was trading at $1,171.70 on Thursday after closing at $1,170.20 on Monday. The LBMA price setting fixed it at $1,166.40. The dollar Index has risen and now stands at 95.92 against 94.61 last Friday and the dollar was trading against the euro at $1.1182 up from against last Friday’s $1.1354. In the euro the fixing was €1,043.10 up from €1,035 last Friday. At New York’s opening gold was trading in the euro at €1,046.45 and at $1,169.35.

October 21: Gold and Silver Fall About 1%

Gold fell $13.02 to $1164.18 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.84%. Silver slipped to as low as $15.643 and ended with a loss of 1.32%.

Silver Short Term Update

A short update on the silver situation is shown in the daily price chart below. After a short ride along the upper portion of our Bollinger Band setup, silver has come off it to approach its 20 day moving average. Trends tend to follow the channel formed by the upper or lower bands and the middle moving average. However, when there is price volatility during times of change between long term bull and bear markets, trading decisions need to be more carefully considered.

October 20: Gold and Silver Gain Almost 1%

Gold dipped to $1167.54 in Asia, but it then rose to as high as $1180.58 in New York and ended with a gain of 0.6%. Silver rose to as high as $15.978 and ended with a gain of 0.57%.

October 19: Gold and Silver Fall With Bonds and Oil

Gold popped up to $1177.24 at about 9AM EST before it dropped back down to $1169.36 in the next couple of hours of trade and then bounced back higher into early afternoon, but it then drifted back lower again in the last hour of trade and ended with a loss of 0.43%. Silver slipped to as low as $15.761 and ended with a loss of 1.12%.

Another Smoking Gun: US Silver Eagle Allocation Conspiracy

Due to the REQUIREMENTS of the US Silver Eagle law, the US Mint must produce coins "in quantities sufficient to meet public demand" which puts the US Mint in the unique position among all the other buyers of silver blanks as being REQUIRED to be the HIGHEST BIDDER for silver blank production when global supplies of US Silver Eagles are NOT meeting demand. By holding back the higher bids for physical silver the US Mint is participating in the price suppression that has distorted the supply/demand dynamics for a "free market" in silver which has created the shortages of physical silver.

Leveraging Silver with Mining Stocks

Any seasoned silver investor will tell you that silver mining stocks can leverage the price of silver. Pick the right company and it will leverage the silver price increase multiple times. But which ones should you choose to invest in? The potential leverage can work both ways as the money invested in a stock disappears faster than the corresponding drop in the silver price.

Fortuna Reports Production of 1.7 Million Ounces of Silver and 10,963 Ounces of Gold for the Third Quarter 2015

Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to announce third quarter production results from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.7 million ounces of silver, 10,963 ounces of gold and significant base metal by-products. Silver and gold production for the first nine months totals 5.0 million ounces and 29,734 ounces respectively; reflecting 77 percent and 84 percent of the company's annual guidance (see Fortuna news release dated January 15, 2015).

October 16: Gold and Silver Gain Over 1% on the Week

Gold dipped $7.44 to $1175.46 in Asia before it chopped back higher in London and New York, but it then fell back off into the close and ended with a loss of 0.65%. Silver slipped to as low as $15.946 and ended with a loss of 0.74%.

Silver as money

Gold is money, admittedly not often circulating as such today. Fiat currencies issued by governments have driven gold out of circulation. But where does this leave silver?

Market Report: Solid demand for PMs

Driving precious metal prices was dollar weakness, and the widely-followed US Dollar index (DXY) is now technically vulnerable to a significant drop. This weakness ties in with a gradual acceptance that dollar interest rate rises are on hold indefinitely. Furthermore, the usual chorus of Keynesian economists is beginning to talk about the necessity of negative interest rates, which would probably guarantee a substantial fall in the dollar, and a corresponding rise in commodity prices, bringing about their desired increase in price inflation.

Green Light Silver

Silver looks like it has bottomed and will move substantially higher. Why? Long Term – 25+ years: Examine the silver to gold ratio since 1990. The ratio is currently low and appears to have bottomed. Silver bottoms when the ratio bottoms. Expect a multi-year rally.

Silver Market Morning: Oct-16-2015

The fall, after hours or in Asia, while a normal part of price fluctuations, emphasizes that these markets are inefficient. But that has been the case for a long time. We do not have a global gold price reflecting the balance of demand and supply. What we do have is a gold price that reflects COMEX’s opinion of where the gold price should be. This does not reflect global demand and supply of the physical gold market.

October 15: Gold and Silver End Slightly Lower

Gold gained $3.25 to $1191.15 by a little before 8:30AM EST before it dropped down to $1174.96 in the next 20 minutes of trade and then rallied back higher for most of the rest of morning New York trade, but it then drifted back lower again in afternoon trade and ended with a loss of 0.42%. Silver slipped to as low as $15.921 and ended with a loss of 0.19%.

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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