• Gold: 1,154.19 -1.43
  • Silver: 14.96 -0.14
  • Euro: 1.100 -0.002
  • USDX: N/A N/A
  • Oil: N/A N/A

July 7: Gold and Silver Fall About 1% and 4%

7 hours 56 min ago

Gold fell $18.72 to $1150.18 at about 10:30AM EST before it bounced back higher at times, but it still ended with a loss of 1.12%. Silver slipped to as low as $14.796 and ended with a loss of 3.76%.

Silver Market Morning

New York closed at $1,171.00 up $22.50 with Asia taking it down to $1,168 before London opened. Today is a historic day as it sees the last gold and silver “Fixings”, a process that began in 1919. Tomorrow will see the twice daily LBMA Gold Price replacing it.

March 18: Gold and Silver Jump About 2% and 3% Higher After Fed Statement

Gold edged down to $1146.27 in Asia before it bounced back to $1151.80 in London and then chopped back lower in early New York trade, but it then soared to as high as $1175.30 after today’s dovish fed statement and ended with a gain of 1.96%. Silver rose to as high as $16.051 and ended with a gain of 3.21%.

Silver Market Morning

New York closed at $1,148.50 down $6.40 with Asia holding it there and then London fixing it at $1,149.00, down $5.75 and in the euro, at €1,080.497, down €7.03, while the euro was slightly better at $1.0634. Ahead of New York’s opening, gold was trading in London at $1,151.00 and in the euro at €1,084.21.

March 17: Gold and Silver End Slightly Lower Before Fed Day

Gold held near unchanged in Asia and London before it dropped down to $1142.69 in early New York trade and then spiked back up to $1158.91 by a little before 10AM EST, but it then drifted back lower into the close and ended with a loss of 0.55%. Silver slipped to as low as $15.392 before it bounced back to $15.725, but it too drifted back lower in the last 6 hours of trade and ended with a loss of 0.58%.

Silver Market Morning

New York closed at $1,154.90 down $0.30 with Asia holding it there as did London ahead of the Fixing. The euro stood in New York at $1.06. At the Fix gold was set at $1,154.75 down $2.25 and in the euro, at €1,087.540 down €10.131, while the euro was at $1.0618 up three quarters of a cent. Ahead of New York’s opening, gold was trading in London at $1,155.00 and in the euro at €1,088.95.

March 16: Gold and Silver End Mixed

Gold gained $8.56 to $1163.76 in Asia before it fell back to $1150.49 in late morning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.026%. Silver rose to as high as $15.778 before it dropped back to $15.514, but it still ended with a gain of 0.51%.

Silver Market Morning

New York closed at $1,155.20 up $1.90 with Asia taking it up to $1,162 at the start of the week. The euro was holding closing levels in New York at $1.05. London took it back to $1,158 ahead of the Fix where it was set at $1,157.00 up $0.50 and in the euro, at €1,097.671 up €6.427, while the euro was at $1.0540 down almost half a cent. Ahead of New York’s opening, gold was trading in London at $1,157.00 and in the euro at €1,098.71.

March 13: Gold and Silver Fall Almost 1% and 2% on the Week

Gold gained $8.26 to $1161.56 in Asia before it fell back to $1151.57 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.17%. Silver rose to as high as $15.661 in Asia before it fell back to $15.484 and then also bounced back higher, but it still ended unchanged on the day.

Market Report: Currency chaos

This week has been all about currencies, with a weak euro grabbing the headlines.

Silver Market Morning

New York closed at $1,153.30 down$0.70 as the gold price began to stabilize as did the euro for now. Asia lifted the gold price to $1,159 and London held it there before it was Fixed at $1,156.50 down $4.75 and in the euro, at €1,091.244 down €3.655, while the euro was at $1.0598, almost unchanged. Ahead of New York’s opening, gold was trading in London at $1,156.45 and in the euro at €1,092.07.

Fortuna Reports Consolidated Financial Results for 2014

Fortuna Silver Mines Inc. (FSM)(FVI.TO) today reported revenue of $174.0 million, net income of $15.6 million and cash generated from operations before changes in working capital of $59.8 million in 2014.

March 12: Gold and Silver End Mixed

Gold climbed $12.50 to $1166.50 in Asia before it fell back to $1148.62 by early afternoon in New York and then bounced back higher into the close, but it still ended with a loss of 0.06%. Silver rose to as high as $15.716 before it also fell back off, but it still ended with a gain of 0.45%.

Silver Projection, Dollar Correction

Debt is increasing rapidly. Global debt is approximately $200 Trillion and US debt exceeds $18 Trillion. Unfunded liabilities are much higher. Deflationary forces threaten central banks, hence they pump dollars, euros, and yen into the system to levitate the bond and stock markets. Interest rates have been crushed to multi-generational lows to further levitate the bond market and increase bank profitability. Currently the squeeze on the dollar has pushed it into a parabolic rally, and such rallies always correct. When the dollar corrects (crashes), silver and gold prices will benefit from the ensuing financial chaos.

Silver Market Morning

New York closed at $1,154 down$7.30 as, for yet another day, the dollar continued to rise as the market remained dominated by currency issues. Asia lifted the gold price by $11 before London pulled it back to $1,160. London then Fixed the gold price at $1,161.25 up $2.50 and in the euro, at €1,094.899 down €1.157, while the euro was at $1.0606, up quarter of a cent. Ahead of New York’s opening, gold was trading in London at $1,159.00 and in the euro at €1,091.51.

March 11: Gold and Silver End Slightly Lower Again

Gold edged up to $1164.69 in late Asian trade before it fell back to $1147.97 in late morning New York trade and then bounced back higher in afternoon trade, but it still ended with a loss of 0.63%. Silver slipped to a low as $15.289 and ended with a loss of 0.45%.

Silver Market Morning

New York closed at $1,161.30 down$5.60 as the dollar continued to rise as the market remained dominated by currency issues. Asia lifted the gold price by $2 before London pulled it back to New York’s closing levels. London then Fixed the gold price at $1,158.75 down $2.25 and in the euro, at €1,096.056 up €16.658, while the euro was at $1.0572, down another nearly 2 cents. Ahead of New York’s opening, gold was trading in London at $1,158.20 and in the euro at €1,090.43.

March 10: Gold and Silver End Slightly Lower

Gold dropped $11.40 to $1155.50 in late Asian trade before it bounced back to $1170.31 in London and then fell back off again in New York, but it ended with a loss of just 0.48%. Silver slipped to $15.621 in Asia before it bounced back to $15.847 and then also fell back off, but it ended with a loss of just 0.7%.

How to Get Struck by Lightning

Two M&A deals have already delivered paydays for investors in junior mining stocks this year: Goldcorp’s half-billion-dollar purchase of Probe Mines in Canada, and Tahoe Resources’ billion-dollar acquisition of Rio Alto Mining, a Peruvian gold producer. Now the arrival of a new, well-capitalized bidder for mining properties—X2 Resources—has raised prospects for more blockbuster deals like last year’s $3-billion takeover of Osisko Mining by Agnico Eagle and Yamana Gold.

Silver and Gold: Shelter From the Storm

Gold and silver are real money, while dollars, euros, and yen are paper substitutes that circulate as currency in place of money. Look at the graph of the ratio of silver to the national debt for the past 20 years. Note the long term rise in the ratio and especially the increase since 9-11. Yes, there has been huge volatility in silver prices as shown by the ratio, but silver and gold – real money – are demonstrating their true value in the face of escalating debt.

Fortuna Updates Reserves and Resources: Silver Contained in Reserves Increases 14% Year-Over-Year

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 10, 2015) - Fortuna Silver Mines, Inc. (FSM) (FVI.TO) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2014 for the Caylloma Mine located in Arequipa, Peru and for the San Jose Mine located in Oaxaca, Mexico.

Silver Market Morning

New York closed at $1,166.90 up $1.20 in a thin market but with more heavy ETF sales, but still dominated by currency issues. Asia took the gold price down to $1,158.00 before London opened. London then Fixed the gold price at $1,161.00 down $13.75 and in the euro, at €1,079.398 up €1.426, while the euro was at $1.0756, down another one and a quarter cents. Ahead of New York’s opening, gold was trading in London at $1,164.00 and in the euro at €1,083.55.

March 9: Gold and Silver End Mixed

Gold climbed almost $10 to $1175.38 at about 7AM EST before it fell back off throughout all of trade in New York, but it still ended with a gain of 0.1%. Silver rose to as high as $15.98 before it also fell back off and ended with a loss of 0.5%.

Silver Market Morning

New York closed at $1,165.70 down $33.30 in a thin market but with heavy ETF sales, but still dominated by currency issues. Asia took the gold price up slightly to $1,174.00 before London opened. London then Fixed the gold price at $1,173.75 96.50 down $22.75 and in the euro, at €1,077.972 down €12.63, while the euro was at $1.0889 down nearly a cent. Ahead of New York’s opening, gold was trading in London at $1,174.60 and in the euro at €1,079.74.

March 6: Gold and Silver Fall About 4% on the Week

Gold dropped $34.13 to $1163.87 by early afternoon in New York before it edged back higher in late trade, but it still ended with a loss of 2.7%. Silver slipped to as low as $15.777 and ended with a loss of 2.1%.

Currency wars have intensified this week driving the US dollar sharply higher against the euro, yen and pound.

Minor currencies are also deliberately devaluing against the world's reserve currency. According to Zerohedge, 21 central banks have cut interest rates since 1st January. The signal this sends out is that people everywhere appear to be showing an increasing preference for money over goods, commonly associated with deflation.

Excellon receives TSX OK for 5.2-million-share buyback

The company filed the NCIB program to allow for market purchases of the company's common shares. Pursuant to the terms of the NCIB program, Excellon shall be permitted to purchase common shares for cancellation through the facilities of the Toronto Stock Exchange at the prevailing market price of the common shares.

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).

Gold Triangle Reality Check

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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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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

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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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