• Gold: 1,255.13 -0.67
  • Silver: 15.97 -0.07
  • Euro: 1.175 -0.001
  • USDX: 93.932 0.443
  • Oil: 57.26 0.11

Kiva Team SilverSeek.com Breaks $30,000 in Loans!

Over the past week, the GoldSeek-SilverSeek micro-lending team’s total loan amount surpassed the $30,000 mark. Over 1,175 loans to groups and individuals all around the world have been impacted by our lending efforts. Our 2012 lending goal of $15,000 has been achieved, now standing at $17,550 in loans for 2012, and we now have increased our challenge for our team to reach our new 2012 goal of $25,000. Please consider taking some of your money out of your nearly 0% APR return “savings” account and put it to good work and become a micro-lender.

Silver Market Morning

New York closed down at $1,768.4 only $2 down on yesterday. Asia and London took it down to $1,775. London Fixed the gold price at $1,773.75 up down$13 and in the euro at €1,361.282 barely changed on yesterday. The euro strengthened slightly to $1.3026, up 0.8 of a cent. Ahead of New York’s opening gold stood at $1,774.85 and in the euro at €1,362.54.

Silver Market Morning

New York closed down at $1,770.50 the same as yesterday. Asia and London took it down to $1,762. London Fixed the gold price at $1,760.00 down$14.50 and in the euro at €1,360.334. The euro weakened slightly $1.2943, down half a cent. Ahead of New York’s opening gold stood at $1,758.72 and in the euro at €1,358.77.

Very Bullish Long-Term Outlook for Silver Stocks

While we have written about Silver here and there, we have not covered it publicly in over a year. The market made an obvious cyclical top last spring and the tremendous gains from late 2008 into 2011 would need to be corrected and digested. From May to July the market tested its lows successfully and formed support. The recent advance confirmed the lows and confirms that we are likely in a new cyclical bull market. Based on the technicals, Silver and silver stocks continue to show tremendous long-term potential.

Silver Market Morning

New York closed down at $1,770.60 up $13. Asia took it up to $1,778. London calmed it ahead of the Fix which was set at $1,774.50 and in the euro at €1,361.439. The euro weakened slightly $1.3020, down half a cent. Ahead of New York’s opening gold stood at $1,773.60 and in the euro at €1,363.15.

Silver Market Morning

New York closed down at $1,757.60 down $13. Asia held it there overnight. The euro weakened slightly $1.3060, down half a cent. The gold price was Fixed at $1,756.75 and in the euro at €1,344.314 down €5. Ahead of New York’s opening gold stood at $1,756.50 and in the euro at €1,344.95.

Silver Market Update

The strong uptrend in silver of the past several weeks is believed to mark the start of a major uptrend that should take the price comfortably to new highs before it’s done. On the 12-year log chart for silver below we can see that this uptrend is still in its infancy, as it has a target at the top channel return line shown, which means it should get to over $60 on this advance, a modest objective given the stunt pulled by the SPSC (Silver Price Supporters Club) over at the Fed last week.

Is Silver Fast On Its Way To $50?

There is not just a similarity in how gold and silver trade at the same time period, but also how they trade at similar milestones, despite the fact that those milestones are sometimes reached at different times. This can cause silver or gold to be the leading indicator, depending on the particular milestone. The 1980 peak for both gold and silver is definitely an important milestone.

Silver Market Morning

New York closed down at $1,770 up $4. Asia held it there over the weekend. Ahead of the Fixing it stood at $1,769.12. The euro remained strong, up nearly half a cent at $1.3111. The gold price was Fixed at $1,767.25 and in the euro at €1,349.355 down €10. Ahead of New York’s opening gold stood at $1,769.75 and in the euro at €1,349.77.

Silver Market Morning

New York closed at $1,766.30 up $34. Asia took it to $1,776. The euro jumped nearly a cent and a half to $1.3047. The gold price was Fixed at $1,772.50 up $40 on yesterday morning and in the euro at €1,359.696 up €20 as the rise in the euro took it to $1.3035. Ahead of New York’s opening gold stood at $1,773.00 and in the euro at €1,360.24.