• Gold: 1,177.09 1.36
  • Silver: 16.73 0.05
  • Euro: 1.065 -0.001
  • USDX: 100.77 0
  • Oil: 51.73 0.79

December 2: Gold Dips But Silver And Miners Gain on the Week

1 day 8 hours ago

Gold gained $7.20 to $1177.90 in Asia before it dropped back to $1166.88 after this morning’s jobs report was released, but it then jumped back up to $1177.76 by midmorning and ended with a gain of 0.43%. Silver rose to as high as $16.802 and ended with a gain of 1.09%.

Silver Market Morning: July-27-2016 -- Gold and silver prices still sitting on support!

Not only is the FOMC meeting today but the markets are expecting an announcement from the Bank of Japan shortly, telling us that they will add more stimuli to their economy. We have no doubt that the B o J is hoping this will weaken the Yen as well as make another attempt to contain structural deflation in the country. We expect both central banks announcements to be good for gold and silver.

July 26: Gold and Silver Gain Before Fed Day

Gold gained $9.27 to $1323.37 in Asia before it chopped back lower at times, but it still ended with a gain of 0.43%. Silver rose to as high as $19.723 and ended with a gain of 0.67%.

July 25: Gold and Silver Fall With Stocks, Dollar and Oil

Gold fell $10.85 to $1312.65 by midmorning in New York before it climbed back to almost unchanged in early afternoon trade, but it then fell back off again into the close and ended with a loss of 0.71%. Silver slipped to a low as $19.312 and ended with a loss of 0.66%.

Goldrock Shareholders Approve Acquisition by Fortuna Silver Mines

Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to announce that Goldrock Mines Corp. ("Goldrock") has received overwhelming shareholder approval at the special meeting held today to approve its previously announced acquisition by Fortuna by way of a plan of arrangement (the "Arrangement"). The Arrangement was approved by approximately 99.99% of the votes cast by Goldrock shareholders.

Chris Martenson: Underpriced Silver Is the “Rip Van Winkle” Metal

Silver, primarily Mike I love it as the industrial metal, as something who's known ore grades are vanishing and deposits are depleting, and we know that it's being used increasingly for more and more industrial applications. Silver is my Rip Van Winkle metal. I love it. If somebody said, "I need to pick one of these two, 20 years I want to be happy when I wake up." Silver’s it. It's a volatile metal that goes up and down, I think it could have a run down if we hit a capital “R” recession or depression across the world… if China blows up or something like that. But barring that, I love silver because of its actual supply and demand characteristics going forward. I think it's heavily underpriced here.

Silver Market Morning: July-25-2016 -- Gold and silver prices sitting on support!

Shanghai prices were lower than at New York’s close, while London tried to pull prices lower at the opening and thereafter. A strengthening dollar is at the heart of the weakness in gold and silver prices. We do not believe the dollar will get that much stronger and echo the opinion that the dollar is unlikely to rise higher than $1.07 against the euro. This helps to explain the limited Technical downside to gold prices.

Silver COT Stuns: What’s Going On Here?

The gigantic war continues unabated. Hedge funds keeping pile in on the long side while Commercials and Swap Dealers keep selling them all they want. The hedge fund net long is at a new all time high. The Swap Dealer net short is also at a new all time high. Commercial net shorts are fast approaching the all time high set back in October 2009.

July 22: Gold and Silver End Slightly Lower on the Week

Gold fell $13.18 to $1319.92 by late morning in New York before it bounced back higher into the close, but is still ended with a loss of 0.72%. Silver slipped to as low as $19.562 and ended with a loss of 1.06%.

Market Report: Technicians turning bearish

Predictably, technical analysts are now talking prices down, expecting gold to test the 55-day moving average currently at $1280, and possibly the 200-day MA, which is at $1195. Last night (Thursday) gold closed at $1333 and silver at $19.80.

July 21: Gold and Silver Gain Almost 1.5% and 2.5%

Gold dipped $3 to $1310.80 in early Asian trade before it bounced back to $1323.24 in London and then fell back to almost unchanged at about 9:30AM EST, but it then rallied back higher for most of the rest of trade and ended near its last minute high of $1333.82 with a gain of 1.47%. Silver rose to as high as $19.872 and ended with a gain of 2.43%.

Silver Market Morning: July-21-2016 -- Gold and silver prices still base building!

With today’s European Central Bank meeting likely to have an effect on exchange rates and the gold price the prospect of more easing becomes important. But as with the Bank of Japan’s failure to move of late [saying ‘helicopter money’ is off the table], so the E.C.B. finds itself in a position where it is extremely limited in what it can do now or in the future. Lending is timid, so stimuli are not bearing fruit!

Silver Market Morning: July-20-2016 -- still base building!

With tomorrow’s European Central Bank meeting gold and silver prices are trying to mark time in a poor Technical environment. Most expect the E.C.B. to do nothing, but the pressure is mounting heavily for more easing. The euro remains relatively strong and the economic outlook for the E.U. remains tilted to the downside. The potential for a recession is there. So something must be done.

Golden Arrow options Antofalla in Argentina’s Catamarca province

Golden Arrow Resources (TSXV: GRG; US-OTC: GARWF) is best known for its Chinchillas silver-lead-zinc project in Argentina’s Jujuy province, but the prospect generator also has properties in the country’s San Juan and La Rioja provinces, and is now extending its reach into Catamarca province in an option deal to acquire a silver and base metals project called Antofalla.

Silver Market Morning: July-18-2016 -- Gold and silver prices trying to decide direction!

Just as the Bank of England is waiting for more pertinent data before deciding on how much easing to put out there, so now we see the E.C.B. hesitating in the same way and for the same reason. They cannot act in the statistical darkness for fear of doing too much or too little. The bank of England is waiting until Augusts’ meetings and even then may delay further. Hindsight may tell them they waited too long or too little, but for now they would not be wise to act before seeing some light.

Silver – No Time to Waste, Get it Now!

I sat down with Michael Noonan, Edge Trader Plus, to get his take on the current state of the silver and gold market. Michaels approach to trading is a little different than most of the other people I speak with in that he simply watches the movement in the charts and tunes out everything else.

David Smith Warns of the Crippling “Amateur Perspective,” Predicts Dramatic Rise in Silver

Prices have pulled back some, and maybe we're seeing a pausing of sorts here after the big run up that we saw immediately following the Brexit decision. But silver is $3 an ounce higher today than it was essentially 3 weeks ago, if you go back to the day before the Brexit vote. Coming into this week, we had 6 straight weekly gains in silver. So the question on nearly everyone's mind, David, is does this rally still have legs? If you think it does, what makes this one different from rallies we've had over the last 5 years that have always seemed to fizzle out rather quickly?

July 15: Gold and Silver Fall on the Week Before Breaking News of Turkey Coup

Gold edged down to $1326.59 in Asia before it bounced back to $1336.05 in London and then fell to a new session low of $1322.69 at about 9:30AM EST in New York, but it then bounced back higher into the close and ended with a loss of just 0.4%. Silver slipped to as low as $20.047 and ended with a loss of 0.89%.

Market Report: Precious metals consolidate

This consolidation, which started after America’s Independence Day, has been in the form of a relatively shallow correction, as our introductory chart shows. This leaves gold up 27% against the US dollar, and silver up 47%. Silver has caught up on all its earlier underperformance, driving the gold/silver relationship down from 83 in March to 66 this week.

Silver Market Morning: July-15-2016 -- Gold and silver prices marked down, digesting the Bank of England’s inaction!

The Chinese gold market followed New York yesterday as the Yuan picked up slightly over yesterday’s exchange rate. All global markets were surprised by the Bank of England’s inaction, despite the indication that if the U.K. economy slowed down between now and August, easing action would be taken. This left the markets in the same position as the Bank of England, waiting for post-Brexit data.

July 14: Gold and Silver Fall While Stocks Climb to New Record Highs

Gold edged up to $1346.77 in early Asian trade before it dropped as much as $23.37 to $1320.43 at about 10AM EST and then rallied back higher for most of the rest of trade, but it still ended with a loss of 0.74%. Silver slipped to as low as $20.023 and ended with a loss of 0.64%.

This Confirms the Continuation of Silver’s Rally

The existence of this pattern, and its recent breakout confirm that the December 2015 bottom in silver is actually the bottom for the correction since 2011. This is a precious gift, if you were still unsure whether to get into silver or not. This was also confirmed by the fact that the USD/ZAR made a significant top very close to the December 2015 silver bottom USD/ZAR (a USD/ZAR top is a good signal to confirm a silver bottom).

Silver Market Morning: July-14-2016 -- Gold and silver prices marked down, waiting for the Bank of England today!

The Chinese gold market was not convinced by the fall in New York and lifted the gold price, reflecting internal Chinese demand. After the close and ahead of London’s opening the gold price was ‘marked down’ pretty heavily and after the LBMA price setting was trading at $1,326.65. No doubt, if Shanghai prices remain higher, its banks in London will move physical gold from their London bases to Shanghai to arbitrage prices and shift more bullion into China.

“We Are On the Cusp of an Explosion in the Silver Price” – John Embry

Not everybody is believing the positive spin being put on recent financial market data. In fact some would go as far as to say that it is “propaganda” being spread in the mainstream media in an election year for the US. At least that is what John Embry concluded in a recent interview.

July 13: Gold and Silver Gain About 1% While Stocks Hold Near Unchanged

Gold dipped $4.38 $1327.82 in early Asian trade, but it then rose to as high as $1345.06 by midmorning in New York and ended with a gain of 0.87%. Silver rose to as high as $20.466 and ended with a gain of 1.44%.

Silver Market Morning: July-13-2016 -- Gold and silver prices marked down, still waiting for the Bank of England!

The Chinese gold market followed New York down, but then turned it up at China’s morning Fix taking it higher during their day to set the pace for London’s morning. The attempt to break the gold price down in New York with the very large physical gold sale worked to some extent, but Shanghai then ignored the sale as demand came in at the lower prices. Certainly, Shanghai took the reins in the last day against the will of New York. We will watch today to see who exerts dominant pricing power?

MASSIVE INDIAN SILVER IMPORTS: Setting Up For Another Big Record Year

With the paper price of silver now below the break-even for the majority of the primary silver mining companies, India imported a massive 1,243 metric tons of silver in October alone. What is quite interesting about this figure is that it comes in at one metric ton shy of the previous record set in May, 2011 at 1,244 mt.

Liberty Dollar founder avoids imprisonment in sentencing

We have it only through a reliable intermediary that Liberty Dollar founder Bernard von Not Haus, convicted rather strangely almost four years ago of counterfeiting for issuing silver coins worth more than the originals they were supposed to be imitating, received a lenient sentence today from Judge Richard Voorhees in U.S. District Court for the Western District of North Carolina -- six months of home confinement and three years of probation.

The Mother of all Bank Runs!

Do you remember seeing old pictures of the Great Depression which depicted "lines"? There were two types, bread lines and also lines to the front doors of banks. While we don't see any bread lines today, trust me, there are bread lines in every single state, and long ones at that. Nearly 50 million people in the U.S. survive on SNAP, EBT cards or whatever they are called in your state. Can you imagine the "confidence" it would instill if each day on your way to work you saw massive lines of people waiting for breakfast?

December 9: Gold and Silver Gain Over 2% and 4%

Gold climbed $29.19 to $1234.19 by late morning in New York before chopped back lower at times, but it still ended with a gain of 2.04%. Silver surged to as high as $17.205 and ended with a gain of 4.03%.

NEW UPDATE: Silver Eagle Sales Surpass 2013 Record At Nearly 43 Million

After the U.S. Mint updated its bullion figures on Monday, 2014 Silver Eagle sales reached a new annual record surpassing last years total by nearly 200,000. Not only was 2014 a banner year for world’s most sought after official coin, the Silver-Gold Eagle ratio also hit a new record high.

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 2% and 4% on the Week

Gold edged up to $1227.25 at about 5AM EST before it dropped back to $1216.39 over the next five hours of trade, but it then bounced back higher in late morning New York trade and ended with a loss of just 0.25%. Silver rose to as high as $17.205 before it also fell back off, but it ended with a loss of just 0.24%.

Santacruz Silver Reports Malfunction in Tailings Dam Dewatering Pipe

Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (SCZ.V) reports that during the weekend at its Rosario Mine in San Luis Potosi, Mexico , a pipeline connecting the Rosario Mine tailings impoundment to a secondary settling pond ruptured and as a consequence water and some tailings material were discharged outside of the tailings treatment system. The Company has notified all appropriate regulatory and governmental authorities.

Silver Market Morning

New York closed at $1,218.90 up $13.40 as the euro continued to fall. Gold retreated to $1,214.10 with the euro at $1.1866 ahead of London’s opening. The Fix saw the gold price set at $1,213.75 up $2.75 and in the euro, at €1,023.83 up €6.525 while the euro was another half of a cent weaker than yesterday at $1.1855. Ahead of New York’s opening gold was trading in London at $1,213.40 and in the euro at €1,024.61.

Fortuna Reports 2014 Record Production of 8.7 Million Silver Equivalent Ounces and Issues Guidance for 2015

Fortuna Silver Mines, Inc. (FSM)(FVI.TO)(FVI)(F4S.F) is pleased to announce 2014 production figures from its two underground operating silver mines located in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 6.6 million ounces of silver and 35.3 thousand ounces of gold or 8.7 million Ag Eq* ounces.

Silver Market Morning

New York closed at $1,258.50 up $30.50 as the euro continued tumbling. In Asia and early London the gold price lifted to $1,260.20 with the euro 1.3 cents down at $1.1625. The Fix saw the gold price set at $1,258.25 up $23.00 and in the euro, at €1,082.366 up €26.96 while the euro was ¾ of a cent weaker at $1.1625. Ahead of New York’s opening gold was trading in London at $1,258.00 and in the euro at €1,084.48.

Silver Market Morning

Gold Today –New York closed at $1,275 up $16.50 as the euro continued to slide. In Asia and early London the gold price held that level with the euro 0.75 cents down at $1.1562. The Fix saw the gold price set at $1,275.50 up $17.25 and in the euro, at €1,099.853 up €17.49, while the euro was 1/4 of a cent weaker at $1.1597. Ahead of New York’s opening gold was trading in London at $1,277.00 and in the euro at €1,101.15.

Fortuna Intercepts 1,282 g/t Ag and 8.1 g/t Au Over 4.6 Meters in Trinidad North Step-Out Drilling at San Jose Mine, Mexico

The new drill results confirm that the Bonanza and Trinidad veins and the structurally and spatially related Trinidad North Stockwork Zone all remain open to the north and to depth along the strike and plunge of the ore shoots.

Excellon Announces Management Changes

Excellon Resources Inc. (EXN.TO) (EXLLF)("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce key additions to its management and technical advisory team. In an ongoing effort to continually improve operations and realize further efficiencies at the Platosa mine, the Company has engaged a team of water management consultants, including Multiurethanes Ltd., Hydro-Ressources Inc., and Technosub Inc.

Silver Stocks Will Rule In 2015

Bank economists and bearish gold gurus continue to err, on their gold price predictions. The huge declines they promised in 2014 on the taper never materialized. They promised that 2015 would bring much lower prices. Instead, gold has already rallied strongly, as I told the gold community it would, because of the bullish news that consistently emanates from Asia.

Exponential Explosions in Debt, the S&P, Crude Oil, Silver and Consumer Prices

In 1913 the US national debt was less than $3 Billion, gold was real money, and a cup of coffee cost a nickel. By 2015 the US national debt had increased to over $18,000,000,000,000 ($18 Trillion), the gold standard was called a “barbarous relic,” most currencies had devolved into fiat paper and digital symbols backed by insolvent governments, and a Grande soy cinnamon latte, double pump, triple shot, extra hot, with sprinkles cost about five bucks.

February 13: Gold and Silver End Mixed on the Week

Gold climbed $9.18 to $1231.18 in Asia before it fell back to $1223.30 in London, but it then climbed to a new session high of $1234.85 in New York and ended with a gain of 0.53%. Silver rose to as high as $17.44 and ended with a gain of 2.55%.

SilverCrest Appoints Vice President, Corporate Communications

Mr. Rapsch has more than nine years of investor relations and corporate communications experience. The past three and a half years have been within the mining industry at SilverCrest, where he has been responsible for implementation, management and execution of all marketing and investor relations related programs, including but not limited to outreach programs to retail and institutional investors across North America and Europe.

SilverCrest Announces New Discovery at Ermitaño El Durazno Target

SilverCrest Mines Inc. (the “Company” or “SilverCrest”) is pleased to announce initial results of exploration drilling at the El Durazno Target within the 100% held Ermitaño I concession in Sonora, Mexico. Nine (9) shallow drill holes, totalling an estimated 2,656 metres have been completed. The objective was to initially drill test surface mineralization for potential open pit targets. El Durazno is the first of several targets identified by surface work to be drilled in the Ermitaño I & II and Cumobabi concessions. Please refer to news releases dated January 14, 2014 and November 18, 2014 on the Company’s website at www.silvercrestmines.com for more information.

Market Report: Mid-week sell-off

In last Friday's Market Update I commented that it is easy for bullion banks with deep pockets to move markets and change sentiment.

February 20: Gold and Silver Fall Over 2% and 6% on the Week

Gold dipped down to $1201.64 in late Asian trade before it bounced back to $1214.54 in London, but it then fell to a new 7 week low of $1198.52 in New York and ended with a loss of 0.53%. Silver slipped to as low as $16.191 and ended with a loss of 0.98%.

February 25: Gold and Silver Gain With Oil

Gold climbed $11.68 to $1211.88 in Asia before it fell back to $1201.17 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.37%. Silver rose to as high as $16.733 and ended with a gain of 1.79%.

SilverCrest President to Take Leave of Absence

SilverCrest Mines Inc. ("SilverCrest" or the "Company") announced today that N. Eric Fier, President and Chief Operating Officer, has taken a partial leave of absence to deal with certain matters of personal health. Dunham L. Craig, Director, has been appointed Interim President and will assume the President's responsibilities on a temporary basis until further stages of a succession plan developed by the Board of Directors can be implemented.

Fortuna to Release 2014 Yearend Financial Results on March 12, 2015; Conference Call at 12 p.m. Eastern on March 13, 2015

Fortuna Silver Mines Inc. (FVI.TO)(FSM) announces that it will release its financial statements and MD&A for 2014 after the market closes on Thursday, March 12, 2015.

SilverCrest to Release 2014 Fourth Quarter and Year-End Financial Results on an Amended Date, March 25, 2015

The Company’s audited 2014 fourth quarter and year-end financial results are now scheduled to be released after market closes on Wednesday March 25, 2015. SilverCrest will be holding a conference call to discuss these results on Thursday, March 26, 2015, at 10 a.m. PST (1 p.m. EST).

March 5: Gold and Silver End Near Unchanged Before Jobs Day

Gold dipped $1.43 to $1197.97 in London before it rallied back to $1209.48 at about 10:40AM EST and then drifted back lower in the next few hours of trade, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.12%. Silver rose to as high as $16.362 and ended with a gain of 0.19%.

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April 25: Gold and Silver End Mixed

Gold waffled near unchanged in Asia and London and edged up to $1644.30 at about 9:15AM EST before it dropped to as low as $1625.25 immediately after today’s fed statement, but it then climbed to as high as $1646.20 in afternoon trade and ended with a gain of 0.16%. Silver slipped to as low as $29.98 before it also recovered, but it still ended with a loss of 0.29%.

Coeur Reports Solid First Quarter Results

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:...

COMEX Silver Inventory Update

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Silver Market Morning

New York closed at $1,638.70. Asia then took the price down to $1,627 early in London’s morning. The euro remarkably has held above €1: $1.30 at €1: $1.3032 leaving gold in the euro at €1,248.47 down €10 on yesterday. The Fixing in London today was set at $1,627.00 and in the euro at €1,250.769. Ahead of New York’s opening it continued to slip to stood at $1,625.00 and in the euro, which also continued to slip, €1,249.66 while the euro was at €1: $1.3003.

South American Silver Corp. Announces Final Closing of $16 Million Financing with Asian based High Technology Groups

South American Silver Corp.(TSX: SAC, US OTC: SOHAF) is pleased to announce that it has closed the final tranche of $9.6 million, of its $16 million private placement Offering (the "Offering") of 10 million Units of the Company announced 16 April 2012. The offering was priced at $1.60 per Unit, which represented a 6% premium to the 5 day volume weighted average trading price of the Company's common shares at the time the Toronto Stock Exchange (the "TSX") accepted notice of the transaction.

Great Panther Silver Announces 2012 First Quarter Financial Results Release Date and Conference Call

VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/08/12)- GREAT PANTHER SILVER LIMITED (...

COMEX Silver Inventory Update

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Great Panther Updates Mineral Resource Estimates at the Guanajuato Mine Complex and San Ignacio Project; Extends Mineralization at San Ignacio

GREAT PANTHER SILVER LIMITED (GPR.TO)(GPL) ("the Company") announces the completion of the updated mineral resource estimates at the Company's...

Silver Market Morning

New York closed at $1,606.80. Asia and London then took the price down to $1,585 early in London’s morning. The euro fell below €1: $1.30 to €1: $1.2971 leaving gold in the euro at €1,221.96 down €27 on yesterday. The Fixing in London today was set at $1,585.50 down $42 and in the euro at €1,221.37 down 2€8. Ahead of New York’s opening it continued to slip to stood at $1,585.81 and in the euro, which also continued to slip, €1,222.68 while the euro was at €1: $1.2970.

Silver Market Morning

New York closed at $1,591.00. Asia lifted the price up to $1,594 early in London’s morning. The euro stood at €1: $1.2965 leaving gold in the euro at €1,229.46. The Fixing in London today was set at $1,590.00 up $8 and in the euro at €1,228.368 up €7. Ahead of New York’s opening it started to slip again and stood at $1,587.65 and in the euro, which also continued to slip, €1,227.41 while the euro was at €1: $1.2935.

The Power of Relative Value & the Silver Market! WOW!

If this does not get your attention I do not know what will. Imagine buying a $400,000 furnished condo in 2011 with the proceeds of a $6,250 investment that was made in 2003. We know someone who has actually done this by using the power of relative value. Let us explain the concept and then we will explain how the relative value may apply to other great opportunities in our markets today.

Silver Wheaton Reports a Strong Start to 2012 with Record Quarterly Revenues of US$200 Million

"Solid operating performance from across our portfolio of mines led to a strong start in 2012," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "We achieved record quarterly revenues, and are on target to attaining our annual production guidance of 27 million silver equivalent ounces. With continued positive progress at our world-class cornerstone assets, including the Peñasquito and Pascua-Lama mines, Silver Wheaton retains one of the strongest growth profiles in the sector."

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