• Gold: 1,173.69 -0.35
  • Silver: 14.97 -0.07
  • Euro: 1.115 0.000
  • USDX: 97.031 0.557
  • Oil: 30.98 -0.67

February 5: Gold and Silver Gain Over 5% on the Week

3 hours 41 min ago

Gold gained $4.74 to $1160.44 in London before it dropped down to $1145.24 after the release of this morning’s jobs data, but it then stormed back higher into the close and ended with a gain of 1.55%. Silver surged to as high as $15.043 and ended with a gain of 1.21%.

February 3: Gold and Silver Gain Over 1% and 2%

Gold fell $5.21 to $1124.39 in Asia, but it then climbed to as high as $1145.44 in afternoon New York trade and ended with a gain of 1.11%. Silver soared to as high as $14.791 and ended with a gain of 2.38%.

Silver Market Morning -- Silver Fixing Breakdown: Feb-3-2016

What seems to have gone by the board in the reformation of the Fixing processes is the intent behind the fixing of both gold and silver. With the outcry in the past against “leakage” from the Fixings allowing traders to deal outside the Fix, as it was being set, the intent of the Fix was entirely missed. The Fix is to bring together as many buyers and sellers in one place, at one time, to agree a mutual price at which the trading reflected the true demand and supply balance. As it was, the clients of the “Fixers” had links into the Fixing by phone, so that they could adjust their orders at the prices being proposed. So ‘leakage’ was intended to maximize volumes.

Silver Price Fix – “Future Of The Fix Is Fraught”

The silver price fix debacle from last week and the new London silver price fix has received a litany of severe criticism in recent days.

February 2: Gold and Silver End Near Unchanged

Gold saw modest losses in Asia and London before it bounced back to $1130.44 by a little before 10AM EST and then dropped to a new session low of $1122.41 in the next couple of hours of trade, but it then rallied back higher into the close and ended with a gain of 0.04%. Silver rose to as high as $14.39 and ended with a loss of 0.28%.

Silver Market Morning: Feb-2-2016

Gold Today –The New York gold price closed Monday at $1,129.20 up from $1,117.30 up $11.90. In Asia on Tuesday, it slipped to $1,126.35 ahead of...

February 1: Gold and Silver Gain About 1%

Gold chopped higher throughout most of world trade and ended near its late session high of $1129.68 with a gain of 1.07%. Silver rose to as high as $14.414 and ended with a gain of 0.56%.

Central Bank Created Silver Rally

The central banks of the world have made a mess of global economic systems, although they have successfully enriched the financial and political elite. But systems are collapsing, the deflation monster has arrived, and more QE, negative interest rates, bailouts, devaluations, and bail-ins are coming.

Possible Sign of Silver Turn

The price of the dollar was down 50mg gold, to 27.8mg, or if you prefer 0.04g silver to 2.18g. Why do we measure the volatile dollar in terms of gold and silver? There’s nothing else to measure it, certainly not the dollar-derivatives called euro, pound, franc, yen, and yuan. In the common tongue, gold was up $20 and silver rose 25 cents.

Silver Market Morning: Feb-1-2016

The New York gold price closed Friday at $1,117.30 up from $1,114.50 up $2.80. In Asia on Monday, it lifted it to $1,121.35 ahead of London’s opening and then the LBMA set it at $1,122.00 up from $1,112.90 with the dollar index up at 99.40 up from 99.08 Friday. The euro was down at $1.0863 down from $1.0918 against the dollar. The gold price in the euro was set at €1,032.86 up from €1,019.33 a strong surge forward. Ahead of New York’s opening, the gold price was trading at $1,122.00 and in the euro at €1,032.44.

Silver Investors' Faith in Benchmark Threatened by Market Misses

“For the second time, we have seen a big discrepancy on the price,” Afshin Nabavi, head of trading and physical sales at MKS (Switzerland) SA, said from Geneva on Friday. “People are going to lose all faith in the fix if this keeps going.”

January 29: Gold and Silver Gain Almost 2% on the Week

Gold edged up to $1117.22 in London before it dropped back to $1110.95 by a little before 10AM EST, but it then rallied to a new session high of $1118.30 by late morning in New York and ended with a gain of 0.25%. Silver rose to as high as $14.309 and ended with a gain of 0.21%.

Silver Market Morning: Jan-29-2016

The New York gold price closed Thursday at $1,114.50 down from $1.125.80 down $11.30. In Asia on Thursday, it lifted it to $1,115.55 ahead of London’s opening and then the LBMA set it at $1,112.90 down from $1,119.00 with the dollar index up at 99.08 up from 98.85 Thursday. The euro was up at $1.0918 up slightly from $1.0910 against the dollar. The gold price in the euro was set at €1,019.33 down from €1,025.66. Ahead of New York’s opening, the gold price was trading at $1,115.90 and in the euro at €1,022.07.

January 28: Gold and Silver Fall Over 1%

Gold dropped down to $1111.66 at about 9:15AM EST before it bounced back higher into midday, but it still ended with a loss of 1%. Silver slipped to as low as $14.115 and ended with a loss of 1.66%.

Silver market in disarray after benchmark price fixed far below spot rate

London 28/01/2016 – The silver market was thrown into disarray on Thursday after the LBMA Silver Price was set 84 cents below the spot and futures price this morning. The LBMA Silver Price – the crucial daily benchmark used by producers and traders around the world to settle silver products and derivatives contracts – was set at $13.58 per ounce.

2016 Silver Market Trends

Silver is prized primarily for its dual role as a monetary asset as well as an important industrial metal utilized in a wide-range of existing and growing applications. Factors driving the silver market include supply and demand fundamentals, global economic performance, geopolitical issues, interest rates, currency fluctuations and investor sentiment, among others. Against this backdrop, the Silver Institute offers the following thoughts on this year’s silver market trends.

Silver Market Morning: Jan-28-2016

The New York gold price closed Wednesday at $1.125.80 up from $1,121.40 up $4.40. In Asia on Thursday, it pulled back to $1,118.35 ahead of London’s opening and then the LBMA set it at $1,119.00 up from $1,116.50 with the dollar index down at 98.85 from 99.00 on Wednesday. The euro was up at $1.0910 $1.0874 against the dollar with a wide spread. The gold price in the euro was set at €1,025.66 down from €1,026.76. Ahead of New York’s opening, the gold price was trading at $1,119.65 and in the euro at €1,026.26.

January 27: Gold Gains After Fed While Stocks Fall

Gold drifted down to $1114.94 by a little after 10AM EST, but it then jumped higher after the release of today’s FOMC Rate Decision and ended near its late session high of $1127.99 with a gain of 0.39%. Silver rose to as high as $14.557 and ended with a loss of 0.14%.

Silver Market Morning: Jan-27-2016

The New York gold price closed Tuesday at $1,121.40 up from $1,108.30 up $13.10. In Asia on Wednesday, it held over $1,120 ahead of London’s opening and then the LBMA set it at $1,116.50 up from $1,114.70 with the dollar index down at 99.00 from 99.36 on Tuesday. The euro was up at $1.0874 from $1.0831 against the dollar. The gold price in the euro was set at €1,026.76 down from €1,029.18. Ahead of New York’s opening, the gold price was trading at $1,117.80 and in the euro at €1,027.86.

January 26: Gold and Silver Gain about 1% and 2%

Gold gained $14.64 to $1122.94 by midafternoon in New York before it edged back lower in the last 90 minutes of trade, but it still ended with a gain of 1.18%. Silver rose to as high as $14.553 and ended with a gain of 1.83%.

Silver’s Shrinking Supply

It was one of the most extraordinary sights you’ll ever come across. This was an industrial-sized operation (which later went bankrupt): dozens of people sitting at long tables, sorting and opening packages. Cut the flap on one and out plops an extracted gold tooth filling. From another, a gold necklace chain. Reach into a third bag, and someone has sent in Grandpa’s gold watch.

A Short History of Paper Money

Suppose you had a printing press in your basement along with a supply of perfect paper. You could slip down to your basement and print a batch of perfect $100 notes or 500 euro notes, but only in an emergency. I predict that you would find many emergencies. Suppose the government or central bank had access to that printing press (they do) and suppose they printed (and borrowed) ONLY in circumstances of economic need, political promises, war, necessary deficits, Presidential junkets, Wall Street bailouts, economic stimulus, vote buying, “emergencies,” and “special circumstances.”

Silver Market Morning: Jan-26-2016

The New York gold price closed Monday at $1,108.30 up from $1,096.80 up $11.50. In Asia on Tuesday, it rose over $1,115.35 before London’s LBMA set it at $1,114.70 up from $1,103.70 with the dollar index down slightly at 99.36 from 99.43 on Monday. The euro was up at $1.0831 from $1.0817 against the dollar. The gold price in the euro was set at €1,029.18 up from €1,020.34. Ahead of New York’s opening, the gold price was trading at $1,113.20 and in the euro at €1,027.46.

January 25: Gold and Silver Gain Over 1%

Gold gained $11.67 to $1108.47 by late morning in New York before it chopped back lower in early afternoon trade, but it still ended with a gain of 1.05%. Silver rose to as high as $14.284 and ended with a gain of 1.35%.

Silver Goes Foom

This will be a brief report, as we’re focused on releasing our Outlook 2016 Report which is over 8,000 words of our assessment of the gold, silver, currency, and credit markets. Also, this was a holiday-shortened week (Monday was Martin Luther King Day in the US). But that did not stop the fireworks in silver on Friday. We will look at what happened below.

Silver Market Morning: Jan-25-2016

The New York gold price closed Friday at $1,096.80 down from $1,101.20, down $4.20. In Asia on Monday, it rose over $1,101.00 once more before London took it up to be set by the LBMA at $1,103.70 up from $1,097.65 with the dollar index higher at 99.43 up from 99.31 on Friday. The euro was down at $1.0817 from $1.0824 against the dollar. The gold price in the euro was set at €1,020.34 up from €1,014.09. Ahead of New York’s opening, the gold price was trading at $1,105.00 and in the euro at €1,021.54.

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Silver: poor man's gold turning to fool's gold?

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The Coming Paradigm Shift in Silver

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Silver Market Update

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Will Silver and Platinum Outperform Gold in the Near Future?

Summing up, the long-term picture in the USD market continues to appear a bit more bearish than not and the implications for the precious metals are generally positive. The silver-to-gold ratio chart suggests that silver is likely to outperform gold in the months to come, yet it should be kept in mind that this may require some time to happen. Additional short-term volatility has been seen in the platinum market, but this is not unusual.

New EW Silver Discovery

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Extorre Reacts to Current Market Conditions and Announces Further High Grade Drilling Results at Cerro Moro

"One drill rig remains on the infill drilling program on our principal prospects, namely Zoe, Escondida, Loma Escondida and Gabriela. Our aim is to ensure that the drilling density is sufficient in areas that would fall within the first two years of a potential mining scenario (at 1300 tonnes per day) to estimate "indicated mineral resources". This program is nearing completion, with the drilling at Zoe, Loma Escondida and Gabriela essentially complete."

Target 2 reached in Silver (Copper target reached)

The second target for the bearish "Head and Shoulders" pattern on silver was reached for greater than $25,000 per contract. The target was using "Measured Rule", which takes the distance from the top of the head to the neckline, and adding it onto the breakdown point.

Silver Market Morning

Gold closed in New York at $1,622.80, the day before the holiday in the States yesterday. A quiet London pulled it back to $1,613.50 at the p.m. Fixing. The morning Fix today the 5th July was set at $1,616.75 and higher in the euro at €1,292.986, up €8 on yesterday’s p.m. Fixing, while the euro stood at €1: $1.2504 down 80 cents. The euro stood at €1: $1.2502 after the Fix. Ahead of New York’s opening gold stood at $1,618.00 in the middle.

Under ATTACK

Do we want the TRUTH or LIES? Gold was ATTACKED by the Cartel today to prevent it from repeating last month’s violation of its “Rule #1” – i.e., “Thou shalt not let PMs soar when the Dow plunges.” Last month, they temporarily lost control when gold had a rare 4% surge with the Dow down 274 points, directly after a similarly horrible NFP report.

A Momentous Day

A momentous day, as the Spanish and Italian stock and bond markets are literally CRASHING. On the day the “Spanish Bank Bailout” was “approved” by the EU – Spanish 10-year yields have EXPLODED to 7.3%, and the IBEX stock index fell a whopping 5.7%. Of course, the “bailout” requires constitution of the ESM, which has not yet been ratified or funded, and won’t be for some time – if at all. Throw in the bankruptcy of Valencia – one of Spain’s largest “autonomous regions” – and you can see why few believe a bailout will ever be received, or that it will MATTER even if it does.

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Silver Market Morning

New York bounced back to $1,573.70 and Asia continued to take it higher, with London running it up to Fix at $1,590.25. The euro was stronger at €1: $12770, where it was when the morning Fixing took place. In the euro it Fixed at €1,245.204. Ahead of New York’s opening gold looked a little better at $1,592.15 and in the euro, €1,246.69 while the euro was at €1: $1.2771.

Managed money positions hint at bullish turns for gold and silver

I have recently written about the breakdown of disaggregated data from the futures markets into producers and swap dealers for gold and silver futures, as reported in the Commitment of Traders reports issued by the US government’s Commodity Futures Trading Commission (CFTC). There is a further category of trader to consider, and that is Managed Money.

The Silver Megathrust

Between 1970 and 1979, the silver price was increasing steadily from $1.50 to $6, before taking off in September 1979 from $10 to $50 within 5 months. During that bull cycle, demand for silver did not increase but actually declined (sharply in 1979). It was as late as 1983 when demand increased confidently from 12,000 to 27,000 tons per year until 2000 – yet the silver price was in a 20 year bear market during that time. In 2003, when silver started its new bull market, the demand actually dropped to 23,000 tons until 2005 – during which 2 years silver almost doubled from $4.50 to $8. Since 2005, demand is rising stronger than ever, having reached 33,000 tons in 2010, whereas the silver price is rising strongly as well.

What a surprise: FT says CFTC to drop silver investigation

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Silver Market Update

The outcome of the Greek vote at the weekend was not favorable for the markets, or for Precious Metals in particular. This is because it did not precipitate an immediate worsening of the acute crisis in Europe, and thus did not create the pressure needed to bring forward the major QE that must eventually come in order to delay Europe's eventual complete collapse. Why then have markets not caved in already? - because investors are "smoking the hopium pipe" and waiting for the Fed to pull a rabbit out of the hat at Wednesday's FOMC meeting, by making positive noises to the effect that QE3 is ready to be rolled out. What is likely to happen instead is that they will come out with the same old line about "being ready to act when the SHTF" but other than that remain vague and non-commital. If this is what they do then markets are likely to throw a tantrum and sell off, and the charts are indicating that it could be hard.

Silver, Gold and The Coming Deflation

Historically gold has made its significant gains, relative to other assets (as well as nominally), not during inflation, but during deflation (Note: I am using the terms inflation and deflation very loosely in this case). These significant gold rallies historically occur when value flees instruments such as stocks and certain commodities.

David Morgan: Seems the bottom for (gold & silver) mining equities is in...

I was recently interview by Jim Puplava and stated what we have been sending to our members. It seems the bottom for mining equities is in and may be tested one more time. The precious metals themselves also could be in a bottom formation currently, but the $26 level on silver and the $1550 level on gold MUST hold. David Morgan www.Silver-Investor.com

The Noose Is Tightening

The noose is tightening on the Powers that Be, as all attempts at MONEY PRINTING, MARKET MANIPULATION, and PROPAGANDA are failing. The GLOBAL economy – and BANKING SYSTEM – is failing, as have been the result of ALL fiat currency systems throughout history. And given that this is the ONLY time EVER when ALL global currencies are fiat –amidst a global population of seven billion people - the crash will dwarf all others in history.

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