• Gold: 1,315.57 -1.56
  • Silver: 18.38 0.12
  • Euro: 1.111 0.000
  • USDX: 95.82 0.051
  • Oil: 49.47 -0.11

June 29: Gold Gains and Silver Soars Almost 3%

10 hours 19 min ago

Gold climbed $15.19 to $1327.59 by late morning in New York before it chopped back lower at times, but is still ended with a gain of 0.4%. Silver surged to as high as $18.444 and ended with a gain of 2.7%.

Silver Market Morning: March-3-2016

London’s gold market is being bid for and there are two main contenders, apparently, the LME and the CME. The LME is owned by Hong Kong Exchanges and Clearing giving London a direct link to the Chinese market. For the London Bullion Market Association to remain relevant, it needs a link to the biggest physical gold market in the world. For it to go CME’s way it would be tied to the U.S. primarily paper market. Just as London is the developed world’s hub for Yuan trading so a tie to China’s gold market through the LME would keep London ‘relevant’ in the global gold market. This would enhance the structural reforms of the gold market being carried out in China and London right now.

March 2: Gold and Silver Gain With Stocks and Oil

Gold traded mostly lower in Asia and London, but it then climbed steadily higher in New York trade and ended near its early afternoon high of $1243.98 with a gain of 0.72%. Silver rose to as high as $15.017 and ended with a gain of 0.54%.

Silver Eagles Flying High!

Silver eagles are flying high! The U.S. Mint reports the first two months of 2016 indicates an annualized amount of American Silver Eagles between 55 and 60 MILLION ounces!! You read that right – 55 to 60 MILLION. We can only hope the U.S. Mint decides to continue rationing the amount of ounces released throughout 2016!!

Silver Market Morning: March-2-2016

Gold ETFs In yet another amazing week for gold demand in the U.S. and after Monday’s huge purchase of gold into the SPDR gold ETF of 14.869 tonnes we see another 8.921 tonnes bought yesterday and a purchase of 0.450 of a tonne into the Gold Trust. The holdings of the SPDR gold ETF are now at 786.195 tonnes and at 189.87 tonnes in the Gold Trust. And yet because of better data out of the States and an equity market rally, gold fell. Readers may feel that when there are such purchases the U.S. price of gold should rise automatically. But that’s not the way it works. HSBC is the Custodian of SPDR gold, so when the SPDR asks it to acquire gold for the company, HSBC must go into the physical market to buy it. It goes primarily into the physical market, most likely in London [if not from its own sources] to get it, not into the U.S. to get it. As a result, such demand does not impact the U.S. price of gold, initially. Now you have a situation where the supply and demand picture in gold is not reflected in the U.S. gold price, despite the fact that it is U.S. buyers of physical gold that’s buying so much. Yes, it is inevitable that at some point their buying will reflect in the gold price.

Can Silver See A Lower Low Without Gold and GDX?

For weeks we have been looking towards the 16 level as the point silver could be seen as breaking out. However, silver came right up to the line, but could not muster the strength to push forward. This past week, we saw silver break below our support of 14.80, which clearly is not a positive development. However, what we also know about silver is that it is the most volatile of the metals and often likes to come on strong from behind. You see, silver is the Secretariat of the metals world.

Silver is Destined for Massive Gains

One of the main reasons for silver being so depressed compared to the resilience that gold has shown is the incredible range of uses that silver has in the manufacturing of a vast number of products. This is a topic that we have covered here in the past that highlights why silver, with its dual purpose as both an industrial and monetary commodity, make it so desirable now and in the future.

March 1: Gold and Silver Fall Slightly While Stocks Gain Over 2%

Gold saw decent gains for most of trade in Asia and London before it fell to see an almost 1% loss by midmorning in New York, but it then bounced back higher into the close and ended with a loss of just 0.65%. Silver slipped to as low as $14.72 and ended with a loss of 0.27%.

Silver Market Morning: March-1-2016 -- Silver affirms its relationship with gold

Silver – Silver has re-affirmed its relationship with gold having recovered over 3% overnight. It must be understood that dealers will move prices when they feel that a fall is coming to protect themselves from buying silver when it is going to fall. When sales to them [purchases by them] arrive they don’t want to be caught long. So when their expectations are not met and they find they have to sell silver at those low prices, they quickly mark up prices even on small buying [selling by them].

February 29: Gold and Silver Gain Over 1%

Gold rose almost 1% in London before it fell back to nearly unchanged at about 8:30AM EST, but it then climbed to a new session high of $1241.02 in New York and ended with a gain of 1.28%. Silver rose to as high as $14.913 and ended with a gain of 1.29%.

Gold-Silver Ratio Breakout Report

The gold to silver ratio moved up very sharply this week, +4.2%. How did this happen? It was not because of a move in the price of gold, which barely budged this week. It was due entirely to silver being repriced 66 cents lower.

Silver Prices in Five Years?

What will the price of silver be in 2021? You can find articles suggesting the price of silver will be over $1,000 and under $10. Perhaps this is the wrong question. A better approach: The global financial system is increasingly unstable and fragile, more so than in 2008. The important question is: How will governments, central banks and financial systems respond to the ongoing crisis? Future prices for silver are dependent upon the answer to that question. I suggest three possible scenarios.

Silver Market Morning: February 27, 2016 -- Real Currency Wars on the way?

Indian demand remains on the sidelines until the Indian budget details are out, today. Demand was held back hoping for a cut in duties in the last week. If duties are cut then the demand will jump as buyers see up to a 10% cheaper price there. That brings prices down from [see below] nearly Rs.85,000 an ounce to Rs.76,500. That will draw out new Indian demand. It will also make it much more attractive for Indian investors as the ‘spread’ on prices will narrow significantly, making both trading and investment more attractive.

Eric Sprott: Silver is The Dark Horse (Video)

Mining silver and gold is a tough business. In order to mine either of these products (money) you need a steady stream of capital into your operation. As we have reported on a number of occasions throughout 2015, and into 2016, that capital is drying up or has left the market completely. This has been causing stress and strain within the mining industry, but not like you might think.

February 26: Gold and Silver End Slightly Lower on the Week

Gold fell $21.52 to as low as $1211.48 by late morning in New York before it bounced back higher in early afternoon trade, but it still ended with a loss of 0.71%. Silver slipped to as low as $14.672 and ended with a loss of 2.71%.

Silver Market Morning: February 27, 2016

More importantly and secondly, with the Indian budget coming up next week, the hope that government will lower the 10% of duties they imposed on gold imports will be lowered. This would reduce, if not eliminate, smuggling [possibly responsible for an extra 250+ tonnes extra of imported gold]. Then ‘official’ if not real, import figures would change. But right now we expect a shunt-effect as demand is held back to be released after the budget, whether or not duties are lowered.

Aggressive Silver Capping Continues

At some point, the question becomes "why". With gold now up 17% year-to-date, silver is up just half that amount at 9.5%. And yet, the latest CoT report shows the highest silver Commercial net short position since 2008. Again, why? Why now? That's truly the $64MM question. Why are The Silver Banks shorting so aggressively here? What's the difference in holding price below $16 versus $18 or $20?

February 25: Gold and Silver End Mixed Again

Gold rose almost 1% in Asia before it dipped to see a $3.16 loss at $1226.04 in morning New York trade, but it then climbed to a new session high of $1242.61 by early afternoon and ended with a gain of 0.31%. Silver slipped to as low as $15.031 before it also bounced back higher, but it still ended with a loss of 0.72%.

Silver Market Morning: Bears fighting a losing battle! | Feb-25-2016

While global growth continues to slow, we note that the Services sector in China is still growing fast. This is directly helping to create more middle class Chinese citizens. These continue to love gold as a fundamental investment. The performance of the Shanghai Composite index remains uninspiring, so solid, safe gold that the older people promote, holds a fundamental position in middle class wealth. The slowing GDP numbers from China belie such growth, but this is and will be a fundamental driver for gold for many years ahead.

February 24: Gold and Silver Erase Morning Gains and End Mixed

Gold rose as much as $28.15 to $1253.15 by late morning in New York, but it then fell back off in the last 5 hours of trade and ended with a gain of just 0.34%. Silver saw over 2% gains at $15.572 at one point, but it then fell back off into the close and ended with a loss of 0.13%.

Silver Price Forecast: Why Central Banks Will Buy Silver

The current pattern has not completed yet, and it would suggest that it will only complete at a point much lower than a ratio of 15. Such a completion of the pattern is consistent with the bullish fundamentals of silver (and gold) in relation to paper money – understanding that a lower ratio will likely mean higher gold and silver prices. Note that there is a major battle for the 80 - level of the ratio.

Silver Market Morning: Feb-24-2016

The gold price made a surge at the LBMA price setting and appears to have started a strong move upwards. If this continues we could see the strong move go much higher. The Technical picture has moved to the critical point where one expected a strong move, either way! Because the surge was at the LBMA price setting, where we expect the largest volumes of the day to be traded, it does appear that a strong move higher is underway.

February 23: Gold and Silver Gain Roughly 1%

Gold gained $18.94 to $1226.44 by late morning in New York before it edged back lower in early afternoon trade, but it still ended with a gain of 1.45%. Silver rose to as high as $15.303 and ended with a gain of 0.66%.

Silver Market Morning: Feb-23-2016

“The backdrop of robust global demand and increasing financial and economic uncertainty is supportive of gold,” says Mark O’Byrne, the research director at GoldCore. “Janet Yellen’s comments … regarding not cutting interest rates anytime soon were quite dovish and led to gold’s gains. The fact that she reiterated the Fed expects to raise rates at a gradual pace and yet gold continued to rise … is quite bullish.”

The US Geological Survey and Silver

Recent talk on the Internet has been about Peak Gold, Peak Silver and a general view that the planet’s natural resources are in danger of sliding into an irreversible decline in production which no amount of pricing or technology can reverse. The implication of this for those who hold gold or silver would be immense in financial terms but also in wider political and economic terms. With that in mind, I consulted the statistics of the US Geological Survey (USGS) for subscribers in a recent newsletter and came to some interesting conclusions.

February 22: Gold and Silver Fall Over 1%

Gold fell $27.17 to $1202.13 on London before it bounced back higher in morning New York trade, but it still ended with a loss of 1.77%. Silver slipped to as low as $14.93 and ended with a loss of 1.3%.

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).

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Mexico's Silver Mines Shine

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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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