Gold rose over 1.5% to $834.90 by midday in London before it fell to a tiny loss at $822.45 in New York, but it then rallied back higher by the close and ended with a gain of 0.65%. Silver rose over 2% to $13.86 and fell $13.39 before it also rallied back higher, but it still ended with a loss of 0.52%. Read the Closing Report
It will be known only until 31st August whether hurricane Gustav will damage to the crude oil rigs in the Gulf of Mexico. Till then crude oil prices will remain firm. Base metals will remain firm on Chinese demand and technical buying. Full Story
Current market conditions are highly unusual. Physical silver 100 ounce bars are hard to find in large quantity except on ebay.com, yet the price of silver has recently dropped, which seems to contradict all known forms of supply/demand price dynamics. Full Story
These two silver prices were at loggerheads with each other. Every time the ‘real’ silver price began to rise, a ‘paper’ silver price would show up in large quantities and scare some of the holders of real silver to dump and run. Full Story
Silver is believed to have bottomed. On the 1-year chart we can see how the failure of the clear line of support (now strong resistance) at and above the $16 level led to a savage plunge. It crashed the next line of strong support that we had expected to hold but stabilized not far below it, the decline doubtless being arrested by the unprecedented oversold extreme that it had by this time attained. Full Story
In another sign that investors are shunning metals and mining stocks, publicly traded companies are now trading at their cash value - or less. Essentially, this means the market is valuing properties - both exploration and producing assets - at zero. Look at Mega Silver (MSR-TSXv). With a stock price of 43 cents, it has a $13 million market cap - and cash of $13 million. Full Story
I do not believe the futures market needs to be "regulated" or "sued" or "legislated" out of existence. It simply needs to be ignored by the market, and it appears that is what is happening, and thus, it will beome increasingly irrelevant. The paper manipulators will ingore the free market at their peril, and we will ignore their rigged market to our success. Full Story
The recent widespread shortage of silver for retail purchase coupled with a price collapse appears to have shaken these analysts’ confidence that the COMEX silver market is operating ‘fair and square.’ Well it should, since there is no rational explanation for a significant price decline going hand in hand with product shortages other than collusive manipulation. Full Story
We can see from this weekly chart that gold clearly outperformed silver from 1999 until 2003. The gold/silver ratio reached a high near 82 to 1 in early 2003. The trend has been down since then, meaning that silver has outperformed gold from 2003 to present, but not by much. Full Story
The cost to privately mint 10,000 pieces of silver, would surely cost well over $1 per coin today, with the size of each piece being completely unimportant. Therefore, when you are buying 90% silver dimes, consider that you are paying what might be less than the cost to mint them or make them, and thus, the silver itself, is free. Full Story
The silver market is tiny. Too tiny. And the silver price is cheap. Too cheap! Too cheap to motivate Johnson Matthey to make enough bars for us. In silver, the jewelry business is still much larger than the investor market. Silver going into jewelry is still probably about 3-6 times as large as silver going into investment products. Full Story
Keynote speakers include Jeffrey M. Christian, managing director of the CPM Group; “Trader Roger” Wiegand of Trade Tracks Stocks; David Morgan, of the Morgan Report (formerly Silver-Investor); James Turk, founder of GoldMoney; Bill Murphy, chairman of the Gold Anti-Trust Committee (GATA); author Norm Franz; Liberty Dollar founder Bernard von NotHaus; and Alexander Korelin, founder of A.B. Korelin & Associates and host of the popular radio program, the Korelin Economics Report. Full Story
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