• Gold: 1,262.30 -1.47
  • Silver: 17.60 -0.02
  • Euro: 1.093 -0.001
  • USDX: 98.785 -0.385
  • Oil: 49.28 -0.14

Silver Market Morning: Mar 7 2017 - Gold waiting...

At the close in Shanghai today, the gold price was trading at 275.50 Yuan once again, which directly translates into $1,242.23. But allowing for the difference of gold being traded this equates to a price of $1,237.23. This is $11.23 higher than the New York close and $13.08 higher than London.

CME, Thomson Reuters step down from providing...

CME Group and Thomson Reuters are to step down from providing the LBMA silver price benchmark auction, the London Bullion Market Association said on Friday, less than three years after they successfully bid to provide the process.

Market Report: Silver hammered

On Comex, the large four traders category late in February was net short about 78,000 contracts, while the managed money category was net long 77,000 contracts. We won’t know for sure how this jumbo sale has effected this balance until the Commitment of Traders report for the current period is issued on 10th March. But it appears that one of the large four (it had to be one of them because of the size of the transaction) took the view that flaky hedge funds, in aggregate net long of what they were short, could be panicked out of their positions. Furthermore, the timing of the sale tells us that these flaky longs are in the US time zone, and that the seller didn’t want to see his shorts absorbed by more solid European buyers, who might take the opportunity to add to their positions.

Now that the silver rig is as obvious the gold...

Central banks gave their gold game away in April 2013 when they used the futures markets to knock the price down by more than $200 with relentless selling over several days. The selling had to be inspired by central banks because there was no important relevant news in the market to spook investors and because nobody else would have had access to the huge amounts of metal and capital involved.

Silver Market Morning: Mar 1 2017 - Gold was not...

At the close in Shanghai today, the gold price was trading at 279.50 Yuan once again, which directly translates into $1,263.89. But allowing for the difference of gold being traded this equates to a price of $1,258.89. This is $7.39 higher than the New York close and $14.89 higher than London.

Silver Market Morning: Feb 28 2017 - Gold waits...

At the close in Shanghai today, the gold price was trading at 280.0 Yuan once again, which directly translates into $1,267.88. But allowing for the difference of gold being traded this equates to a price of $1,262.88. This is $11.88 higher than the New York close and $11.18 higher than London.

Silver Market Morning: Feb 27 2017 - Gold turning...

At the close in Shanghai today, the gold price was trading at 280.0 Yuan, which directly translates into $1,265.84. But allowing for the difference of gold being traded this equates to a price of $1,260.84. This is $4 higher than the New York close and $6 higher than London. Shanghai opens the week pulling both London and New York higher again but with the two centers following close behind.

Next Leg Up is Beginning (Precious Metals)

The next leg up in a new daily cycle for the precious metals has begun. Silver is breaking away above its 200 dma with little resistance now until it reaches $19. Gold is approaching its 200 dma and once it breaks through that resistance is expected to top somewhere above $1300+.

Market Report: Making headway in better volume

Gold and silver broke out on the upside from a two-week consolidation yesterday, with gold breaching the $1250 level, and silver clearing $18.00. Comex volume has picked up on these break-outs, characteristic of a bullish move. In early European trade this morning, gold was trading at $1254, up $19 since last Friday’s close. Silver was at $18.26, up 27 cents on the same timescale.

Silver Market Morning: Feb 24 2017 - Gold...

Bearing in mind that the prices of the 23rd [yesterday] above are the prices ahead of London’s opening and well ahead of New York’s opening. As you can see both London and New York were dragged higher by Shanghai. Looking at Shanghai’s closing prices today [not on the chart as they have not yet been officially released, we are looking at prices over $1,260. If London and New York continue to follow Shanghai, which we believe will happen, then both London and New York will see good rises later today.