• Gold: 1,268.49 3.56
  • Silver: 19.23 0.08
  • Euro: 1.313 0.001
  • USDX: 82.927 -0.068
  • Oil: 93.30 0.1

September 2: Gold and Silver Fall Nearly 2%

10 hours 36 min ago

Gold dropped $24.54 to as low as $1262.76 by midmorning in New York before it bounced back higher at times, but it still ended with a loss of 1.72%. Silver slipped to as low as $19.093 and ended with a loss of 1.64%.

Silver Market Morning - 17 hours 45 min ago

Silver Market Update - 1 day 4 hours ago

Silver Market Morning - 1 day 17 hours ago

U.S. Bank’s Silver Short Positions send Buy Signal

In early June, U.S. banks trading future-contracts at the COMEX, only held a total of 13,234 contracts in net short positions, which equals 2,057 tons of silver forward-sales and depicts the lowest value since Goldreporter started analyzing the monthly data 5 years ago (see chart). For comparison: In February 2013 U.S. banks were 6,249 tons short!

Silver Market Update

The public are now extremely bearish on silver, with a widespread perception that it is “done for”, but as we will see, even if there is some further short-term weakness, the longer-term outlook for silver is very bright indeed.

Silver Market Morning

The gold price closed at $1,252.90 on Friday down $1 in New York. In Asia and London the price rose $3 until the Fix, where it was set at $1,255.00 up $10.75 and in the euro at €920.695 up €6.276, while the euro stood stronger at $1.3631. Ahead of the opening in New York the gold price was trading at $1,256.20 and in the euro at €922.86.

June 6: Gold and Silver End Slightly Higher on the Week

Gold edged up to $1257.38 by a little before 9AM EST before it dropped back to $1246.15 in the next hour of trade, but it then bounced back higher midday and ended with a loss of just 0.02%. Silver slipped to as low as $18.897 before it also rallied back higher and ended unchanged on the day.

Gold in near-death experience on Comex

Well, it’s a bit of an exaggeration, but for the first three days of this week daily turnover in the gold future fell to about 80,000 contracts, compared with a more normal level of 120,000. At the same time volatility fell to as close to zero as you can get. The week started with the gold price at $1241 and until yesterday at 1.00pm UK time stuck to a tight range of $7 centred on $1244. Open interest picked up a little, as shown in our first chart.

Silver Market Morning

The gold price closed at $1,253.10 up $9.4 on Thursday in New York. In Asia and London the price lifted to $1,255. It was then set at $1,254.00 up $9.25 and in the euro at €919.962 up 4.450, while the euro stood at $1.3631. Ahead of the opening in New York the gold price was trading at $1,253.70 and in the euro at €919.91.

Cataclysmic Central bank announcements

Today, one of the most cataclysmic Central bank announcements in history was made; when not only did the ECB reinstitute the LTRO (thus, admitting its banks remain insolvent); lower the key lending rate to 0.15%; and discuss the potential launch of a new QE program - but took the deposit rate NEGATIVE!

June 5: Gold and Silver Gain About 1%

Gold dipped to $1241.16 by a little before 8AM EST before it shot up to $1257.01 in the next hour of trade and then chopped back lower at times, but it still ended with a gain of 0.76%. Silver surged to as high as $19.133 and ended with a gain of 1.17%.

Silver Market Morning

The gold price closed at $1,243.70 down $2.60 on Wednesday in New York. In Asia and London the price remained the same. It was then set at $1,244.75 down $1.25 and in the euro at €914.450 down €1.39, while the euro stood at $1.3612. Ahead of the opening in New York the gold price was trading at $1,244.60 and in the euro at €917.17.

June 4: Gold and Silver End Slightly Lower

Gold dipped to $1244.39 by a little after 6AM EST before it rebounded to $1248.97 in the next couple of hours of trade, but it then drifted back lower into the close and ended with a loss of 0.21%. Silver slipped to as low as $18.755 and ended with a loss of 0.16%.

GoldSeek TV Interviews Brendan Cahill: We can make money with $20 Silver

GoldSeek.com TV presents an exclusive interview with Brendan Cahill, the President and CEO of Excellon Resource Inc. He discusses several topics with interviewer Vanessa Collette of GoldSeek.com, including: We can make Money with $20 Silver Update on Mexico's Highest Grading Silver Mine Opportunities in this Silver Market

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.

June 3: Gold and Silver End Slightly Higher

Gold edged up to $1247.66 in London before it dropped back to $1241.89 at about 10:30AM EST, but it then bounced back higher into the close and ended with a gain of 0.26%. Silver rose to $18.937 before it fell back to $18.742, but it then climbed back higher in afternoon trade and ended with a gain of 0.48%.

Silver Market Morning

The gold price closed at $1,243.10 on Monday, up 10 cents in New York. In Asia and London the price rose $1 until the Fix, where it was set at $1,244.25, down $0.50 and in the euro at €914.419 down €0.841, while the euro stood at $1.3607. Ahead of the opening in New York the gold price was trading at $1,246.20 and in the euro at €915.72.

June 2: Gold and Silver End Modestly Lower

Gold dropped down to $1241.12 in Asia before it bounced back to $1249.61 by a little after 10AM EST, but it then drifted back lower into the close and ended with a loss of 0.62%. Silver slipped to as low as $18.672 and ended with a loss of 0.32%.

Silver Market Morning

The gold price closed at $1,243 on Friday, down $12 on Friday in New York. In Asia and London the price rose A$1 until the Fixed, where it was set at $1,244.75, down $9.25 and in the euro at €915.26 down €7.83, while the euro stood at $1.3600. Ahead of the opening in New York the gold price was trading at $1,245.00 and in the euro at €915.21.

Precious Metals Moving Closer to Bottom

Although gold stocks are rallying today, my work leads me to believe that there is more downside before a bottom. The good news is the sector is now much closer than it was a few weeks ago. Yet, patience and discipline will be the name of the game over the coming days and weeks. Discipline is required to exit hedges at the right time while patience is required to buy as low as possible. I am looking at JNUG (3x long GDXJ) as well as several juniors I believe have exceedingly strong upside potential over the coming quarters and years.

"the Cartel"

All I can say is this; by pushing prices this far below the cost of production, the resulting blowback will indeed be historic - as worldwide, the fundamentals for owning them are strengthening with each passing day.

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.

Exploration of Fortuna Silver's San Jose Mine (Presentation)

Record 2013 production: 2.5 million ounces of silver and 19,031 ounces of gold.

CME, LME compete to provide alternative to London silver 'fix'

Major metal exchanges emerged as contenders in developing an alternative to the London silver price benchmark, or "fix", after the century-old system for setting the globally recognised price is disbanded in August.

Silver Market Morning: May 29, 2014

Silver (very short-term) The silver price is should consolidate with a weaker bias, in New York today.

Should Silver and Gold be on your must-have investment list? Monday - June 2, Vancouver

At 1pm on Monday, June 2 at the Canadian Investor Conference, some of the world's top thought leaders from the resource space will discuss their outlook on Gold investment - the Good, the Bad and the Uncertain...

Silver Market Morning: May 28, 2014

We saw a stronger fall in gold of 2.25% than in silver of 1.5% yesterday. Will silver fall further to catch up or did gold fall too far? We should see some reactions in the next day or so. We remember in the past that Asia is not rapid in its reactions, so we expect to see that come by week’s end. However, we have to question the ability of this fall to hold lower levels. Why, because there were buyers of gold into the U.S. based SPDR gold ETF of 8.386 tonnes [not sellers!]

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

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 Fixing Company to Stop Running London Benchmark

The company that runs the London silver fixing, a benchmark dating back more than a century, will stop running the process after Deutsche Bank AG said two weeks ago that it was dropping out of the price-setting ritual.

Historic silver price benchmark bites the dust as banks pull out

The 117-year old London silver price benchmark - or fix - will cease on Aug. 14, its operator said, as regulatory scrutiny of price-setting intensifies across markets.

Total Physical Silver Demand Achieves Record Level in 2013

Total physical silver demand rose by 13 percent in 2013 to an all-time high, according to “World Silver Survey 2014″, released today by the Silver Institute. This was primarily driven by the 76 percent increase in retail investment in bars and coins coupled with a sturdy recovery in jewelry and silverware fabrication. On the supply side, silver scrap fell by 24 percent, experiencing the largest drop on record to reach its lowest level since 2001. The silver price averaged $23.79 in 2013, the third highest nominal average price on record, in a particularly volatile year for the entire precious metals complex.

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.

Silver Market Morning: May 23, 2014

The Russia/China Gazprom deal will lead to 25% of China’s energy requirements being met on the current numbers in the contract, by 2018. We note that this number allows for an increase in this supply thereafter. If we combine this with the internationalization of the Yuan happening in many countries, we see China is building a strong base of operations for the Yuan that allows it to control the value of the Yuan exchange rate as it is doing now with its ‘moving peg’ against the dollar.

COT Silver Report - May 23, 2014

COT Silver Report - May 23, 2014

Silver to Gold Ratio: 27 Years of Data

Investor demand for silver and gold bars and coins is strong and increasing. I think silver and gold prices will be higher by the end of 2014 and much higher by the next US presidential election.

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 29, 2014

Silver (very short-term) The silver price is should consolidate with a weaker bias, in New York today.

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.

GoldSeek TV Interviews Brendan Cahill: We can make money with $20 Silver

GoldSeek.com TV presents an exclusive interview with Brendan Cahill, the President and CEO of Excellon Resource Inc. He discusses several topics with interviewer Vanessa Collette of GoldSeek.com, including: We can make Money with $20 Silver Update on Mexico's Highest Grading Silver Mine Opportunities in this Silver Market

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.

BNN Interview with President & COO Eric Fier

SilverCrest Mines’ (TSX: SVL NYSE MKT: SVLC) President & COO Eric Fier appeared on BNN’s “Commodities” show with Andrew Bell on Tuesday June 10th, 2014 and discussed the Company’s growth strategy and M&A activities in the precious metals sector in a two-segment interview; please follow the links to view the interview:

June 19: Gold and Silver Soar Over 3% and 4% Higher

Gold climbed steadily higher throughout most of world trade and ended near its late session high of $1319.48 with a gain of 3.47%. Silver rose to as high as $20.893 and ended with a gain of 4.64%.

Gold and Silver Explode Higher! Is it Finally Time to Buy?

As bullish as I am on precious metals going forward, it is important to realize that manipulation is still occurring and there are banks with access to nearly unlimited funds and extreme leverage via futures markets that can slam the price down at will. They are finally being exposed and even fined for the manipulation, putting an end the cries of “conspiracy theory.” But I am not convinced that they are out of the market quite yet.

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.

For Silver Bulls, Expanded Coverage Starts Today

In response to popular demand, I’m going to start tracking silver more closely. “There is a lot of talk on the Internet about silver going up a lot around mid-July,” a chat-room denizen averred on Tuesday. Although I’m not one to be influenced by blogger buzz, if Silver is in fact developing thrust for a moon shot, the evidence should soon become apparent on the intraday charts. Most immediately, that would imply a pop through the p=21.325 midpoint Hidden Pivot shown (see inset). That would open a path to at least 22.070 , its D-target sibling. Gold stalled on a spike Monday at an analogous p, but the fact that it didn’t get past it means silver and gold futures are on roughly equal footing at the moment on the bull/bear scale.

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.

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.

Sharp consolidation

Before yesterday's (Thursday) rise in bullion prices, precious metals were in corrective mode this week after recent rises. There were two big stand-out sales of gold contracts on Monday, estimated to be about 5,000 contracts at the European opening, and 15,000 on the US opening. The combination of the two sales drove gold down over $30, and on Tuesday a further sale of 15,000 contracts drove the price down to a low of $1293 for a total fall of $45.

Silver smash preempts regularly scheduled column

Well, I was slaving away on Part 2 of my essay exploring one way “stacker issues” might finally go “mainstream” when I became distracted by the latest silver smashdown.

Gold Triangle Reality Check

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Gold And Silver Seasonal Trends

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Silver Confirms the Bullish Outlook for Precious Metals

The new year...

Orex Closes 2,500,000 Unit Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S...

Mexico's Silver Mines Shine

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Chart to keep an eye on - Silver

Silver is showing some congestion in the daily timeframe around the neckline of a "Head and Shoulders" pattern that has yet to be fulfilled. This...

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

...

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

 ...

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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