• Gold: 1,316.92 -5.73
  • Silver: 19.51 -0.12
  • Euro: 1.096 -0.001
  • USDX: 97.467 0.522
  • Oil: 44.19 -0.02

Silver COT Stuns: What’s Going On Here?

6 hours 6 min ago

The gigantic war continues unabated. Hedge funds keeping pile in on the long side while Commercials and Swap Dealers keep selling them all they want. The hedge fund net long is at a new all time high. The Swap Dealer net short is also at a new all time high. Commercial net shorts are fast approaching the all time high set back in October 2009.

Golden Arrow options Antofalla in Argentina’s Catamarca province

Golden Arrow Resources (TSXV: GRG; US-OTC: GARWF) is best known for its Chinchillas silver-lead-zinc project in Argentina’s Jujuy province, but the prospect generator also has properties in the country’s San Juan and La Rioja provinces, and is now extending its reach into Catamarca province in an option deal to acquire a silver and base metals project called Antofalla.

Silver Market Morning: July-18-2016 -- Gold and silver prices trying to decide direction!

Just as the Bank of England is waiting for more pertinent data before deciding on how much easing to put out there, so now we see the E.C.B. hesitating in the same way and for the same reason. They cannot act in the statistical darkness for fear of doing too much or too little. The bank of England is waiting until Augusts’ meetings and even then may delay further. Hindsight may tell them they waited too long or too little, but for now they would not be wise to act before seeing some light.

Silver – No Time to Waste, Get it Now!

I sat down with Michael Noonan, Edge Trader Plus, to get his take on the current state of the silver and gold market. Michaels approach to trading is a little different than most of the other people I speak with in that he simply watches the movement in the charts and tunes out everything else.

David Smith Warns of the Crippling “Amateur Perspective,” Predicts Dramatic Rise in Silver

Prices have pulled back some, and maybe we're seeing a pausing of sorts here after the big run up that we saw immediately following the Brexit decision. But silver is $3 an ounce higher today than it was essentially 3 weeks ago, if you go back to the day before the Brexit vote. Coming into this week, we had 6 straight weekly gains in silver. So the question on nearly everyone's mind, David, is does this rally still have legs? If you think it does, what makes this one different from rallies we've had over the last 5 years that have always seemed to fizzle out rather quickly?

July 15: Gold and Silver Fall on the Week Before Breaking News of Turkey Coup

Gold edged down to $1326.59 in Asia before it bounced back to $1336.05 in London and then fell to a new session low of $1322.69 at about 9:30AM EST in New York, but it then bounced back higher into the close and ended with a loss of just 0.4%. Silver slipped to as low as $20.047 and ended with a loss of 0.89%.

Market Report: Precious metals consolidate

This consolidation, which started after America’s Independence Day, has been in the form of a relatively shallow correction, as our introductory chart shows. This leaves gold up 27% against the US dollar, and silver up 47%. Silver has caught up on all its earlier underperformance, driving the gold/silver relationship down from 83 in March to 66 this week.

Silver Market Morning: July-15-2016 -- Gold and silver prices marked down, digesting the Bank of England’s inaction!

The Chinese gold market followed New York yesterday as the Yuan picked up slightly over yesterday’s exchange rate. All global markets were surprised by the Bank of England’s inaction, despite the indication that if the U.K. economy slowed down between now and August, easing action would be taken. This left the markets in the same position as the Bank of England, waiting for post-Brexit data.

July 14: Gold and Silver Fall While Stocks Climb to New Record Highs

Gold edged up to $1346.77 in early Asian trade before it dropped as much as $23.37 to $1320.43 at about 10AM EST and then rallied back higher for most of the rest of trade, but it still ended with a loss of 0.74%. Silver slipped to as low as $20.023 and ended with a loss of 0.64%.

This Confirms the Continuation of Silver’s Rally

The existence of this pattern, and its recent breakout confirm that the December 2015 bottom in silver is actually the bottom for the correction since 2011. This is a precious gift, if you were still unsure whether to get into silver or not. This was also confirmed by the fact that the USD/ZAR made a significant top very close to the December 2015 silver bottom USD/ZAR (a USD/ZAR top is a good signal to confirm a silver bottom).

Silver Market Morning: July-14-2016 -- Gold and silver prices marked down, waiting for the Bank of England today!

The Chinese gold market was not convinced by the fall in New York and lifted the gold price, reflecting internal Chinese demand. After the close and ahead of London’s opening the gold price was ‘marked down’ pretty heavily and after the LBMA price setting was trading at $1,326.65. No doubt, if Shanghai prices remain higher, its banks in London will move physical gold from their London bases to Shanghai to arbitrage prices and shift more bullion into China.

“We Are On the Cusp of an Explosion in the Silver Price” – John Embry

Not everybody is believing the positive spin being put on recent financial market data. In fact some would go as far as to say that it is “propaganda” being spread in the mainstream media in an election year for the US. At least that is what John Embry concluded in a recent interview.

July 13: Gold and Silver Gain About 1% While Stocks Hold Near Unchanged

Gold dipped $4.38 $1327.82 in early Asian trade, but it then rose to as high as $1345.06 by midmorning in New York and ended with a gain of 0.87%. Silver rose to as high as $20.466 and ended with a gain of 1.44%.

Silver Market Morning: July-13-2016 -- Gold and silver prices marked down, still waiting for the Bank of England!

The Chinese gold market followed New York down, but then turned it up at China’s morning Fix taking it higher during their day to set the pace for London’s morning. The attempt to break the gold price down in New York with the very large physical gold sale worked to some extent, but Shanghai then ignored the sale as demand came in at the lower prices. Certainly, Shanghai took the reins in the last day against the will of New York. We will watch today to see who exerts dominant pricing power?

July 12: Gold and Silver Fall While Stocks Rise To New Record Highs

Gold saw slight gains in Asia, but it then fell back off for most of trade in London and New York and ended near its early afternoon low of $1331.05 with a loss of 1.65%. Silver slipped to as low as $19.977 and ended with a loss of 0.99%.

Fortuna Reports Second Quarter 2016 Silver and Gold Production

Fortuna Silver Mines Inc. (FSM) (FVI.TO) is pleased to announce second quarter production figures from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver and 9,365 ounces of gold plus base metal by-products.

Silver Market Morning: July-12-2016 -- Gold and silver prices waiting for the Bank of England!

Ahead of the opening in New York the gold price stood at $1,347.65 and in the euro at €1,214.21. London is trying to establish a pattern of lower prices ahead of New York when it feels physical buying may not appear in New York and in particular the gold ETFs. The moment physical interest is shown in the ETFs the gold price is lifted.

July 11: Gold and Silver End Mixed While SPX Closes at Record High

Gold jumped $7.55 to $1374.75 at the open of trade last night before it fell to as low as $1351.35 in midmorning New York trade and then bounced back higher into midday, but it still ended with a loss of 0.92%. Silver jumped to as high as $20.668 in Asia before it dropped back to $20.155 in early New York trade, but it then chopped back higher into the close and ended with a gain of 0.5%.

Repeat Of 70s Pattern Shows That A $675 Silver Price Is Realistic

In my previous silver article, I highlighted a very bullish pattern/fractal on the 100-year silver chart. It was a very big picture view of silver, which is really difficult to perceive within our current reality. However, at some point in time, it will catch up with our current reality. This will likely happen when the monetary system collapses.

Fortuna Announces Changes in Management

The company is pleased to announce the appointment of Mr. David Volkert as new Vice President of Exploration effective August 8, 2016. David is a discovery oriented professional with multiple discoveries over his thirty-eight years in mineral exploration. David's work experience includes senior positions as CEO at Paget Minerals Corp., VP Exploration at Bear Creek Mining Corp., and Exploration Manager (Peru) at Barrick Gold. David will be responsible for leading the discovery of new mineral resources through the planning and execution of Fortuna's brownfields and greenfields exploration programs.

Silver COT update

The problem we have in these computer-driven markets is that those machines know nothing of finesse like we long-time traders once practiced. They are either ALL-IN or ALL-OUT. Once any technical chart level gets tripped, the machines start firing off their buy or sell orders and the rest is then automatic. The larger this hedge fund long position gets, the larger the potential for a severe burst of selling becomes as the computers start closing out (liquidating) those longs IF A CHART SUPPORT LEVEL FAILS TO HOLD.

July 8: Gold and Silver Gain About 2% on the Week

Gold bounced between $1353.49 and $1363.32 just ahead of this morning’s jobs report and jumped between $1342.57 and $1369.90 in the hour afterwards before it drifted back towards $1350 by late morning in New York, but it then rallied back higher into the close and ended with a gain of 0.6%. Silver rose to as high as $20.205 and ended with a gain of 2.64%.

Mexican Silver-Miner Makes $2.2 Billion in June

When miners move, they move hard and fast. That’s what happened toward the end of the 1970s and it is happening today as well. The interrupted upwards curve of metals prices against the dollar has resumed. The manipulations have seemingly ceased for the moment. (See previous metals articles.) Perhaps the Chinese are buying. Having bought long ago, Alberto Bailleres has certainly made money.

Silver Market Morning: July-08-2016 -- Gold and silver prices consolidating before moving higher!

Whenever you get that feeling that the way higher is free of obstacles, profit taking usually kicks in or a simple pause or consolidation comes in. That’s what’s happening now. While we have not seen any physical gold sales out of the gold ETFs we follow until now, the appearance of one dampens euphoria. Today, is an expression of that.

July 7: Gold and Silver Fall Before Jobs Day

Gold saw slight gains in Asia before it fell to see a loss of $12.89 at $1351.11 in late morning New York trade, but rallied back higher into the close and ended with a loss of just 0.36%. Silver slipped to a low as $19.467 and ended with a loss of 2.09%.

Silver Market Morning: July-7-2016 -- Silver price pauses before moving higher!

While global financial markets are slightly calmer today, we see them digesting the worrisome information coming out of the impending crises areas. None of the information has changed but global financial markets need to get a sense of proportion and measure each factor within this context. For instance the Italian Banking crisis can drag out through the summer and could gain the green light for the Italian government to inject funds into them. Then it appears that in the short to medium term, the crisis would evaporate.

A Buying Opportunity for Silver ETFs?

Silver prices have been pushed below $30 an ounce in the recent sell-off as investors raise cash in the wake of the collapse of commodities broker...

Silver Market Update - January 16th, 2012

The diminution in silver's downside momentum and the massive contradiction between our earlier bearish interpretation of the charts, and the...

Great Panther Silver Reports Improved Fourth Quarter Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/17/12)- GREAT PANTHER SILVER LIMITED (TSX: GPR.TO)(AMEX: GPL) (the "...

Pan American Silver Comments on Changes to Mining Legislation in Rio Negro, Argentina

"Pan American Silver Corp. (TSX: PAA.TO)(NASDAQ: PAAS) ("Pan American" or the "Company") owns 100% of the Calcatreu gold development project ("...

When Will Silver Reach a New High?

Casey ResearchIn...

New EW Silver Discovery

...

Warren Buffett Trashes Gold, But What About Silver?

“Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no...

The Arbitrageur: Silver backwardation

Ever since early fall 2010, long-...

Ron Paul Assaults Ben Bernanke On Parallel Currencies [Video]

Congressman Paul gives an opening...

Silver and Gold Dividends to be Paid by Gold Resource Corp. (NYSE-AMEX: GORO)

COLORADO SPRINGS, CO--(03/12/12)- Gold Resource Corporation (the Company...

Fractal Analysis: 2012 Silver to $70++

Around this...

First Majestic Announces Friendly Acquisition of Silvermex Resources

VANCOUVER, BRITISH COLUMBIA--(04/03/12)- First Majestic Silver Corp. ("...

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

Silver bulls may be hoping that the metal's healthy first-quarter price rise is the first step back towards record highs. Not so fast.Its...

Great Panther Silver Reports First Quarter 2012 Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/16/12)- GREAT PANTHER SILVER LIMITED (TSX: GPR....

Bearish pattern of the day - Silver

Silver has formed a "Descending Triangle" on the daily chart. A descending triangle shows decreasing demand and an increase in supply with each...

The Coming Paradigm Shift in Silver

...

Bearish pattern of the day - Silver

Silver has formed a "Descending Triangle" on the daily chart. A descending triangle shows decreasing demand and an increase in supply with each...

Silver Market Update

Is silver becoming a bearmarket, or is a bottom pattern completing that will lead to a major new uptrend soon? That is the big conundrum facing investors and speculators in the sector and in this update it will become apparent that the situation must resolve itself with a decisive move soon, one way or the other.

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

...

Great Panther Silver Reports First Quarter 2012 Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/16/12)- GREAT PANTHER SILVER LIMITED (TSX: GPR....

On the Money - A Dime a Gallon [Video]

An economic commentary on Ron Paul...

First Majestic Announces Friendly Acquisition of Silvermex Resources

VANCOUVER, BRITISH COLUMBIA--(04/03/12)- First Majestic Silver Corp. ("...

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.

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

Silver bulls may be hoping that the metal's healthy first-quarter price rise is the first step back towards record highs. Not so fast.Its...

March Silver in Backwardation

March silver has been...

Silver Market Update - January 16th, 2012

The diminution in silver's downside momentum and the massive contradiction between our earlier bearish interpretation of the charts, and the...

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

But such an outcome would be completely consistent with a finding that the really big player in the silver market is not JPMorgan at all but the U.S. government acting through intermediary brokerage houses. After all, as he signed the legislation demonetizing silver in 1965, President Lyndon B. Johnson pledged that the U.S. government would rig the silver market if necessary to prevent the price from rising...

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.