• Gold: 1,290.01 4.42
  • Silver: 17.07 0.07
  • Euro: 1.180 0.004
  • USDX: 93.317 -0.228
  • Oil: 47.67 0.03

Fractal Silver Update

The Fractal Silver Chart from the late 70’s is a bit different than today, mostly due to the effect that the deflationary psychology of the current period has had on Silver as a partly “economic metal.”This means that the chart of Silver has been much more volatile, especially in downside corrections compared to the late 70’s charts.The Silver parabola is a less fluid form than the Gold parabola with Silver making sharp vertical rises along the way.

Silver Market Morning

The last day of the week precedes the U.S. Labor Day holiday weekend with US markets shut on Monday. Will gold traders want to settle up and book-square before the speech to avoid being caught on the wrong side in a market with low liquidity should Mr. Bernanke surprise the financial markets with a bold statement favoring or quashing further easing prospects or will they see less risk in holding gold positions in the light of his strong statement saying he is ready to ease further if there is no evidence of “a substantial and sustainable strengthening in the pace of the economic recovery”?

Silver Market Morning

New York gold closed at $1,656.10. London opened at the same and held that level right up to the Fix. The euro is virtually unchanged at €1: $1,2557. The Fix was set at $1,657.00 and in the euro at €1,320.214. Ahead of New York’s opening the gold price stood at $1,655.80 and in the euro at €1,320.31.

Recent Rally in Silver – A Sign of Strength or a...

Summing up, a lot has happened in the past several days in the white metal market but not very much has really changed from the medium-term perspective. So silver’s show of strength seen in the above charts is not really a very bullish phenomenon. This is especially true when the overbought RSI levels are considered.

Silver Summit Celebrates Its 10th

Cambridge House International's annual Silver Summit celebrates its tenth year Oct. 25 and 26 at the historic Davenport Hotel in Spokane, Washington, with a cavalcade of experts in all things silver and a thousand silver aficionados.

Silver Market Morning

New York gold closed at $1,667.20. Traders are driving the market in line with the moves of the euro: dollar exchange rate. The morning Fix was set at $1,664.25 and in the euro at €1,325.040, while the euro stood at $1.2560. Just ahead of New York’s opening, gold was steady at $1,664.26 in the middle and in the euro to €1,325.39.

Silver Price Projection – for 2013

An objective and reasonable estimate for the price of silver at the next intermediate peak (estimating 2013 – Quarter 2) is $50 to $60 per ounce (current price is about $28). This is not a prediction based on wishful thinking and hope, but a best estimate based on rational analysis of data stretching back to 1975.

Silver Market Morning

Silver in New York closed at $30.68 ignoring gold’s pullback after which London took it higher to $30.90 where it stood just ahead of New York’s opening. Silver continues stronger than gold.

Silver Market Update

The sharp advance by silver last week was presaged by the late July breakout from the important "inner" downtrend that we had earlier delineated, which had been in force from early March, as we can see on the 8-month chart for silver shown below. So is that it - are we on our way now? - almost, but there is one remaining major hurdle left to clear. Before going on to consider what that is we should take note of the fact that silver is now critically overbought short-term as shown by its RSI indicator, and it has also run into a still falling 200-day moving average, factors which point to a high probability of it pausing to consolidate or perhaps react back somewhat in the immediate future - if it does keep going higher near-term, the advance is likely to be measured. The fact that the 50-day moving average is still some way below the falling 200-day also suggests that some more time is needed before the major uptrend expected gets into full swing.

Silver: Supply and Demand Part 2, Investment...

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.