• Gold: 1,294.97 0.01%
  • Silver: 19.61 0%
  • Euro: 1.38 -0.01%
  • USDX: 79.846 -0.03%
  • Oil: 104.55 0.58%

April 17: Gold and Silver Fall Almost 2% on the Week

3 days 32 min ago

Gold fell to $1296.56 in Asia before it rebounded to $1304.09 in London, but it then fell to a new session low of $1293.29 in New York and ended with a loss of 0.63%. Silver slipped to $19.51 before it bounced back to $19.724 and then also fell back off, but it ended with a loss of just 0.2%.

Fortuna Reports 2013 Record Production of 5.9 Million Silver Equivalent Ounces and Issues Guidance for 2014

Fortuna Silver Mines, Inc. (FSM) (FVI.TO) (FVI.TO) (F4S.F) is pleased to announce 2013 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 4.6 million ounces of silver and 21,242 ounces of gold or 5.9 million Ag Eq* ounces.

Silver: A Great Buy Opportunity! Up-date N° 27

The bull market of the silver price started towards the end of 2001. On the way from $ 4.02 to the recent intraday all-time high of $ 48.42 (an increase of 1,104%), several significant corrections took place, the most severe one in 2008 when the silver price sank by 57% only to jump 441% to a new all-time high.

The Chartology of Silver (Both Sides of the Coin)

In this Weekend Report I would like to show you some charts for silver which shows a bullish and bearish scenario. As we are at an inflection point we need to monitor both sides of the precious metals complex for clues that may give us the next important direction this group, as a whole, may move. To pick an absolute bottom is next to impossible to do but one can get very close sometimes if a clear and open mind is present.

Silver Market Morning

On Friday the gold price in New York rose to close at $1,247.10 with Asia lifting it to $1,251.55. The dollar weaker at $1.3673: €1 ahead of London’s opening. In London the gold price was Fixed at $1,246.00 up $13.75 on Friday. In the euro it, Fixed at €911.885 up nearly €5.30. Ahead of the opening in New York gold stood at $1,246.45 and in the euro at €912.08. The dollar stood at $1.3666: €1

Why the Bearish picture in Silver suddenly has increasing odds of changing

Silver is "Coiling Up" on the Daily chart and there is also a minor downward sloping trendline that may be coming into play soon. Take a look at the Daily chart below and the drawings. What the Coiling pattern shows me is there is a lot of tension in the recent open interest and that makes it a compression chamber of energy brewing. There is only one side in the zero sum game of futures that can make a profit so should Silver start to make a move away from the Coil with an increase in Volume, the losing side of the contract is going to be feeling some heat, especially those who are "leveraged".

January 10: Gold and Silver End Mixed on the Week

Gold saw decent gains in Asia before it fell back to $1228.59 just as this morning’s jobs report was released, but it then climbed to as high as $1248.75 by early afternoon in New York and ended with a gain of 1.52%. Silver surged to as high as $20.25 and ended with a gain of 2.86%.

Silver Bottoming?

Much has been written about gold but fewer talk about silver. Silver has been displaying similar technical patterns as gold. And like gold there remains constant bearish chatter that silver prices have a lot further to fall. The bear reports have silver falling to $17, $15 and even lower. Silver has in the past, been a monetary metal.

How can someone like me make a prediction about silver prices?

In a sense, I’m not qualified to issue an “expert” opinion on the future prices of silver and gold. I’m a managing editor of a weekly newspaper with a degree in political science. I took two economics classes in college. I don’t work in the “industry” that establishes PM prices. My knowledge of futures markets, “all-in” mining costs and technical analysis is elementary at best.

The VERY KEY ROUND NUMBER of 3.0%

Yesterday afternoon, a "miraculously strong" 30-year bond auction pushed the benchmark 10-year Treasury yield below the VERY KEY ROUND NUMBER of 3.0%. Never mind the FACT that the Fed monetizes at least 70% of all new issuance, or that only a lunatic would dramatically increase purchases of high duration bonds when a "very strong" NFP report was anticipated the following morning. OF COURSE it was the Fed's fear of surging rates that caused it to step in and "turbo QE" rates back down, just as it was forced to do on September 6th. On that day, yet another "weaker than anticipated" NFP report was fabricated to help them out, as was the case today.

Silver Market Morning

Yesterday the gold price in New York rose back to close at $1,228.40 after which Asia lifted it to $1,234. The dollar hardly moved at $1.36.12: €1 ahead of London’s opening. In London the gold price was Fixed at $1,232.25 up $6.25 on yesterday. In the euro it, Fixed at €906.533 up nearly €6.00. Ahead of the opening in New York gold stood at $1,233.40 and in the euro at €907.55. The dollar stood at $1.35905: €1

January 9: Gold and Silver End Slightly Higher

Gold climbed $6.24 to $1231.14 at about 8AM EST before it fell to as low as $1223.61 by late morning in New York, but it then bounced back higher in early afternoon trade and ended with a gain of 0.29%. Silver slipped to as low as $19.413 by late morning in New York before it shot to a new session high of $19.712 in early afternoon trade, but it then drifted back lower into the close and ended with a gain of just 0.05%.

Silver Market Morning

Yesterday the gold price in New York fell again to the lower $1,220 area, but was being pulled higher to the $1,226 level in Asian trade. The dollar was strengthening and was at $1.3596: €1 ahead of London’s opening. In London the gold price was Fixed at $1,226.00 up 50 cents on yesterday. In the euro it Fixed at €900.610 down nearly €2.00. Ahead of the opening in New York gold stood at $1,227.50 and in the euro at €901.712. The dollar stood at $1.3613: €1

January 8: Gold and Silver Fall Again

Gold fell $10.53 to $1221.77 at about 4:40AM EST before it rebounded to $1231.91 in the next two and half hours of trade and then fell to a new session low of $1218.83 after the release of today’s fed minutes, but it then bounced back higher in the last couple of hours of trade and ended with a loss of just 0.6%. Silver slipped to as low as $19.332 and ended with a loss of 1.56%.

Silver Market Morning

Yesterday the gold price in New York fell to $1,232.30 down $5.70 with the dollar steady at $1.3623: €1. Today the gold price was Fixed at $1,225.50 down $11 on yesterday. In the euro it Fixed at €902.502 down €5.422. Ahead of the opening in New York gold stood at $1,226.00 and in the euro at €902.333. The dollar stood at $1.3586: €1

January 7: Gold and Silver End Slightly Lower

Gold climbed $6.40 to $1245.20 in Asia before it fell to as low as $1224.96 in morning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.52%. Silver slipped to as low as $19.639 and ended with a loss of 1.49%.

A Curious Development in Silver

I write frequently about supply and demand in the monetary metals, gold and silver. I’ve argued that one cannot just look at numbers pertaining to “famous” buyers or sellers like India or the People’s Bank of China, while ignoring thousands or millions of anonymous people who are on the other side of the trade. Who has been “right” (from a dollar profit-and-loss perspective) over the past few years, those who sold their gold to China—or China who bought it? The gold price is a lot lower today, and that is a fact.

Silver Market Morning

Yesterday the gold price in New York rose to $1,238 and vacillated around that level with the dollar around $1.3620: €1. Today the gold price was Fixed at $1,237.50 down 50 cents on yesterday. In the euro it Fixed at €907.924. Ahead of the opening in New York gold stood at $1,240.00 and in the euro at €908.62. The dollar stood at $1.3647: €1

Silver, Gold and S&P: Trend Change Due

The year 2013 was a great year for the S&P and a terrible year for silver and gold investors. There are many indications that it is time for a reversal.

January 6: Gold Gains Despite Flash Crash

Gold climbed $9.91 to $1246.31 in early Asian trade before it fell back to $1235.82 by a little before 8AM EST and then rose to a new session high of $1248.18 at about 10:10, but it then “flash crashed” down to $1211.86 at 10:14 and was halted for 10 seconds following a “velocity logic” event - Gold Flash Crashes, Halts Trading Zero Hedge. The yellow metal quickly rebounded however, and ended not far from its pre-crash high with a gain of 0.19%. Silver rose to as high as $20.335 and ended with a gain of 0.05%.

The desperation is mounting

The desperation is mounting, as this "fat finger" caused gold to fall $13 in ONE SECOND at 10:15 AM; not un-coincidentally, as it was up 1.0% just after the 10:00 AM KEY ATTACK TIME. With the December contract bordering on default - as at least 275,000 ounces have stood for delivery but not seen gold leave the registered inventory category - and the "commercials" at their most bullish positioning ever, something appears ready to give. Germany only received 37 measly tonnes of the 300 it is supposed to receive over a seven-year period in 2013; and as it turns out, the gold received wasn't even their original gold.

Silvercrest Mines Inc. (TSXV: SVL): Follow-Up #17

SilverCrest Mines Inc. is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%‐owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high‐grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag: Au).

Silver Market Morning

On Dec 24th the gold price in New York rose stood at $1,198.50 the dollar stood at $1.3677: €1. Today we see gold having touched $1,238 and the dollar at $1.3607: €1. Asia is mainly responsible for the rise in prices ahead of London’s. Today the gold price was Fixed at $1,238.00. Ahead of the opening in New York gold stood at $1,237.40 and in the euro at €909.38.

January 3: Gold and Silver Gain About 1% on the Week

Gold climbed over 1% to $1238.37 in Asia before it fell back to $1227.34 in London, but it then rose to a new session high of $1240.24 in New York and ended with a gain of 0.99%. Silver surged to as high as $20.311 and ended with a gain of 0.95%.

January 2: Gold and Silver Gain Nearly 2% and 3%

Gold climbed $23.68 to $1227.88 by a little after 2AM EST before it pared back to $1214.01 in the next six hours of trade, but it then rose to a new session high of $1230.76 in New York and ended with a gain of 1.67%. Silver surged to as high as $20.225 and ended with a gain of 2.83%.

The end is nigh

Today, King World posted an article showing gold and silver prices at their most oversold levels in HISTORY; i.e, well below the lows in both 2008 and even 1980. I wrote about it this morning, so please check the Miles Franklin blog later today. As for the markets, they opened the year with a PM surge, whilst interest rates remained near their highs and stocks plunged. The walls could close around TPTB at any time; and perhaps the 400,000 ounces or so of gold scheduled to leave the COMEX registered inventories of just 494,000 this week will be the catalyst. Or perhaps not; but either way, the end is nigh on a PAPER shorting scheme that has created record PHYSICAL demand - which likely, will be dramatically higher in 2014, whilst the mining industry starts to see equally dramatic production declines.

We shouldn’t hold our breath waiting for government agencies to end manipulation

It’s impossible to believe that regulators, prosecutors and others charged with enforcing commodity laws and regulations are unaware of charges of manipulation. Volumes of articles have been published on the topic. Organizations such as GATA exist solely to document these charges (and forward summaries to said regulators). High-profile market analysts such as Ted Butler have done the same thing for years. And yet no charges have been filed.

Connivers Figuring To Cheat (CFTC) & What Will They Say When Silver Runs Out

CFTC chief Gary Gensler, Goldman Sachs alumnus, seems to be saying, “Hey! Silver longs and mining shareholders! I picked up a line from “The Big Valley” TV series, October 31, 1966 episode, “Target.” I use the line at all CFTC meetings on silver prices---“I say, we kill him right now!”

Precious Metals Prices To Rise As The U.S. Economy Disintegrates

As the U.S. economy continues to disintegrate, increasing numbers of investors will be forced to move out of paper assets and into physical gold and silver to protect their wealth. At first the move will be slow, but as Americans wake up from four decades of fiat monetary amnesia, it will turn into a torrent.

Indian Silver Imports on Pace for New Record in 2013

If the present trend of large monthly silver imports continues, Indian may be setting up for a record year in 2013. According to industry sources, Indian has already imported 2,400 tonnes of silver in the first 5 months of 2013 compared to 1,900 tonnes for the entire year in 2012.

5 CHARTS: The Real Story Behind Silver

As the world continues down the road of self-destruction via its highly leveraged paper financial markets, there's a much more fascinating story worth looking at. Hidden from the majority of the public and misunderstood by many of the so-called professional metal analysts, is the Real Story Behind Silver.

The Forces That Will Push Silver Over $100

There are tremendous forces at work that will push silver over $100 an ounce. Very few precious metal analysts understand all the forces that are at work. Some analysts focus on specific areas such as the gold-silver ratio and technical analysis, while others write about future investment and industrial demand. And then of course, we have the more unorthodox analysts who delve into the ongoing manipulation of gold and silver -- a realization shared by the author of this article.

Correcting Antal Fekete’s Historical Silver Errors

In “The Double Whammy of Geopolitical Gold Games reposted in February 2013 (from January 31, 2008) by Antal Fekete http://www.24hgold.com/english/news-gold-silver he stated some errors of fact! Marco Polo, guide us on this excursion to China! Bruce Lee, help our reflexes to be as fast as yours! May we not be slap happy like Jackie Chan! Wo Fat, do not mislead us!

Latest U.S. Mint Silver Eagle Sales Data

April, 2013: 3,232,000 Ounces 2013 JANUARY-APRIL Totals: 17,455,000 ounces 2012 JANUARY-APRIL Totals: 11,659,000 ounces 2013 vs 2012 YTD: +5,796,000 ounces

SilverStrategies' Sean Rakhimov Advises Diversity

It's these times—volatile markets that shake you to your core—when you truly learn what kind of investor you are, says Sean Rakhimov, the founder of SilverStrategies. The investors who face these testing times, never forgetting why they sunk their funds into precious metals in the first place, are soon to be rewarded, according to Rakhimov. In this interview with The Gold Report, Rakhimov explains why he believes that investors who haven't been shaken out of stocks yet will be able to cash in on a "triple" headed to the silver sector.

Silver, Gold and S&P: Trend Change Due

The year 2013 was a great year for the S&P and a terrible year for silver and gold investors. There are many indications that it is time for a reversal.

The Silver Saga

The silver standard did not die a natural death. It was deliberately killed. A proper search for the assassins was never carried out. There was never a post-mortem. In this paper we focus on the conspiracy as it might have unfolded between the two dates: April 9, 1865 (the day General Lee of the Confederacy surrendered at Appomattox to General Grant of the Union marking the end of the War Between the States) and January 1, 1879 (Resumption Day, when payment of the victorious Union’s currency, the greenback was resumed in gold specie ̶ but not in silver).

The Silver Series: Silver as an Investment (Part 3)

Silver has had double digit gains in 7 of the last 10 years. In this infographic, we look at the investment properties of silver as well as its chief differences with gold. Highlights include a study on silver correlation, volatility, performance against the US Dollar and money supply, and portfolio diversification.

Silver Market Update

All the signs are that silver’s long correction is now over and that it is beginning a major uptrend. The Commercials have cleared out most of their short positions, for a massive profit of course, meaning that the slate is wiped clean for the game to start over anew. Public opinion and sentiment towards silver remains rotten, which is exactly what you expect to see at a major low, with the investing public at large, having been duly “educated” by the mainstream media, harboring a negative attitude to silver and if anything inclined to short it. Lastly, seasonal factors couldn’t be better – August and September are good months for gold which will have a positive influence on silver and September is traditionally the best month of the year for silver by far.

Silver: Supply and Demand Part 2, Investment Demand

This educational video looks at how and why people invest in silver. While economic, socio-political and psychological forces play a large part in determining the price of silver, it all comes back to the basic principles of supply and demand.

Silver – Keep It Simple!

Nixon dropped the link between the dollar and gold in 1971. Thereafter, the money supply rapidly expanded, consumer price inflation went wild, and both silver and gold increased in price by over a factor of 20 in early 1980.

US Mint to limit purchases of "America the Beautiful" silver coins

The U.S. Mint will limit dealers' purchases of its "America the Beautiful" five-ounce silver bullion coins when they go on sale next week because strong demand exceeds the mint's inventory.

Rainmaking with Silver

This method of cloud seeding has proven effective in the Snowy Mountains of Australia and the Sierra Nevada in the United States. By increasing winter snowpack in agricultural regions that experience droughts in the summer, it is possible to feed rivers for a longer period of time than if no cloud seeding was done. Check out this fascinating look at weather modification using silver as a nucleation agent for rainfall.

Silver: The Noise is Deafening!

The weak prices for silver and gold during the past three years are a correction to the massive run-up in prices from October 2008 – mid 2011. During that time silver increased from a low of $8.53 to a high of nearly $50.00. Gold increased from a low under $700 to a high over $1,900. They have been correcting since then. The correction is, I expect, over – FINALLY.

Silver's Ultimate Rally: When Paper Assets Collapse

The relationship between the Dow and silver has been very consistent during the last 100 years. After each of the major Dow peaks (real, not necessarily nominal peaks), we eventually had a major bottom in silver.

Silver To Hit New Highs As The Quality Of Analysis Falls To New Lows

The coming explosion in the value of silver will be a shock to the world due to the failure of the analyst community. I am completely amazed at the lack of quality analysis today. Except for a few good analysts, there's a sea of lousy ones who continue to put out work that becomes increasingly worthless each and every passing day.

The 'old-fashioned' gift of silver

This year for the first time I'm going to give the gift of silver as a Christmas present. Specifically, I'm going to give a couple of silver coins to my godson who is in 8th grade.

Why Is The Future Silver Supply More at Risk than Gold?

The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system. Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome. However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner.

Silver Market Update

Recent action in silver has been very bullish. It barely paid lip service to the technical requirement to drop back and form a Right Shoulder to its Head-and-Shoulders bottom before breaking out of this base pattern back last Tuesday, without waiting for either gold to break out, or for the dollar to break down. When gold did actually break out on Friday, and the dollar broke down, it built on these achievements by breaking clear above the resistance near to its 50-day moving average.

Shanghai Silver Stocks Fall Nearly 50% Since April

Ever since the take-down of the price of silver in April, silver warehouse stocks have been declining in a large way at the Shanghai Futures Exchange. At the peak on April 12th, the Shanghai Futures Exchange held 1,124 tonnes of silver at its warehouses. However, just six weeks later, 360 tonnes or 32% were removed.

Silver - Pushing On A String

Little in the way of news has transpired in the past week that could have an impact on the silver market. The main stage has been set for some time, regarding all the known factors affecting silver, to date. There is no need to review any of them, at this point.

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

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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."