• Gold: 1,290.10 4.51
  • Silver: 17.05 0.06
  • Euro: 1.180 0.005
  • USDX: 93.318 -0.227
  • Oil: 47.67 0.03

Putting the Latest Silver Crash Under a Lens

On Thursday, July 6, in the late afternoon (as reckoned in Arizona), the price of silver crashed. The move was very brief, but very intense. The price hit a low under $14.40 before recovering to around $15.80 which is about 20 cents lower than where it started. Buyers of silver are rejoicing. They can now get more money (silver, like gold, is money) in exchange for their dollars than before. However, as we see from the reactions in the community, there were few buyers.

Silver Market Morning: July 12 2017 - Gold and...

The gold price has confirmed the bottom is in and it rose to $1,219 this morning in London. The support at the $1,200 level is very large. But you will note that in the euro, it has barely moved. We see the weakening dollar playing a strong role in the dollar gold price going forward. This means that we must gauge the gold price by looking at it in different currencies as well as the dollar.

Preparing for THE Bottom: Part 3 – Gold to Silver...

In the first part of the Preparing for THE Bottom series, we emphasized the need to be sure to stay alert and focused in the precious metals market, even though it may not appear all that interesting. We argued that preparing for the big moves in gold that are likely to be seen later this year should prove extremely worth one’s while. In the second part of the series, we discussed when, approximately, one can expect the key bottom in gold to form (reminder: this winter appears a likely target).

Silver Market Morning: July 11 2017 - Gold and...

Both New York and London turned higher yesterday. New York rose to Shanghai’s level at the close yesterday and London today is pulling the gold price down leaving the differential with Shanghai at just over $9 lower than yesterday’s differential. All global gold markets are looking for a bottom still. But as we mentioned yesterday there is an almost osmotic pressure in London that is shifting physical gold to the Far East constantly, in line with the price differentials between London and Shanghai.

“Silver’s Plunge Is Nearing Completion”

– Silver’s plunge is nearing completion – Bloomberg analyst – Silver’s 10% sharp fall in seconds remains “mystery” – Plunge despite anemic global supply and strong demand – Total silver supply declined in ’16 – lowest level since ’13 – Silver mine production down in ’16, first time in 14 years – Total silver supply decreased by 32.6 Mln Ozs in 2016 – Supply deficit in 2016- fourth consecutive year (see table) – “Falling knife” caution but opportunity presenting itself

Is Manipulation Partly to Blame for Silver’s...

It is my privilege now to welcome in Chris Powell, Secretary-Treasurer at the Gold Antitrust Action Committee, also known as GATA. Chris is a long-time journalist and hard money advocate, and through his tireless efforts at GATA he is working to expose the manipulation of the gold and silver markets. Through GATA's work over the years. Some important revelations have come to light, which quite honestly should concern everyone.

Silver Market Morning: July 10 2017 - Gold and...

As you can see Shanghai has not dropped as far as New York or London. The price differential is very wide now on today’s price of $15.94 between Shanghai and London. We have no doubt that today, gold, from the SPDR [GLD} is flowing across to Shanghai via HSBC the Custodian of the gold ETF. The big question is will Shanghai pull up London and New York prices or will Shanghai be pulled down to a much narrower differential? At the moment it is New York and London that are pulling prices down, but at the cost of gold flowing eastwards.

CME Stays Silent on Cause of COMEX Silver Price...

Silver futures prices on the COMEX futures trading platform briefly plummeted at approximately 7:06am Singapore time yesterday, with the price for the front month (most active) September silver contract falling from a US$16.06 quote down to a low of US$14.34 all within a 1 minute interval. The futures price then recovered nearly all of its losses in the subsequent 2-3 minute period. High to low, this COMEX silver futures contract saw its price fall by just over 10.7%, before rebounding nearly 11%.

Market Report: Speculators chicken out

The fall in prices has continued after the end of the half year, when the bullion banks have had a history of suppressing prices to window-dress their books. Doubtless a reason will be concocted to justify this price action, and favourite must be the deflationary effects of the Fed running off its mega-balance sheet. But this is to misread the current fragility of the system. We can state categorically that the US and global economies are simply debt junkies, needing increasing amounts of debt, or they die. Does anyone seriously think that the Fed and the other central banks will let this happen?

Silver Market Morning: July 7 2017 - Gold and...

Shanghai is stabilizing again today, but not by much. New York traded at $6 lower than Shanghai following Shanghai’s close yesterday. Today London opened $11 lower than Shanghai. Until gold makes a firm break one way or another we consider it directionless as it has been for most of the second quarter. Today, once again, remains a critical day for the gold price in all three global centers as the direction forward is still to be established.