• Gold: 1,290.08 4.49
  • Silver: 17.06 0.06
  • Euro: 1.180 0.004
  • USDX: 93.317 -0.228
  • Oil: 47.66 0.02

Silver Morning: June-12-2017: reacting to...

We also doubt that the gold mining companies would ever again embark on an exercise to raise production at the request of and with the support of bullion banks with the backing of central banks as they did at the end of the last century. This leaves global central banks on balance being buyers not sellers, in the future.

Silver Market Morning: June-9-2017

British Elections have turned out to be disaster for Prime Minister May as we see a hung Parliament. As a result we expect to see more easing and perhaps a rate cut in the near future as uncertainty kicks into the way forward for Brexit. Most believed that the only issue was the size of the conservative majority. But this result changes things. Already the gold price is rising in the pound sterling, as the pound falls heavily.

Silver Market Morning: June-8-2017: U.K....

Growth in the Eurozone is now clearly evident, but inflation is falling. As we said yesterday, Draghi, who has repeatedly said that policy makers must be convinced that inflation can rise toward 2% on its own, before removing monetary stimulus, may well make a point of this, but will, it seems only change his language in the statement slightly confirming this. This is positive for gold.

Silver Market Morning: June-7-2017: Draghi and...

British Elections happen tomorrow. With the discussions around the size of the conservative majority it appears to us that the result will not affect the gold price. Draghi and the E.U. With inflation falling in the E.U. problems in the banking sector [Banco Popular has just been taken over by Santander in Spain] Draghi, who has repeatedly said that policy makers must be convinced that inflation can rise toward 2% on its own, before removing monetary stimulus, is set to leave the current stimulus position in place through the rest of this year. This is positive for gold.

Silver Market Morning: June 6 2017 - Gold poised...

One is guarded about figures from Hong Kong being representative of Chinese demand. Gold enters China from Switzerland but also through Beijing and other ports of entry. In addition, the country mines around 450 + tonnes a year. It also imports gold directly from mines it owns outside the country. So the figures mentioned here are just part of the picture. What we do learn from these is that Chinese demand is running close to record levels. The government has encouraged this as a matter of policy, so as to build up the nation’s gold.

Silver Market Morning: June 5 2017 - Gold...

New York closed $4.17 lower on Friday than the Shanghai Gold Exchange was trading at today ahead of Monday’s opening. London opened at around $1 lower than Shanghai was trading earlier today. These are very small price differences evidencing arbitrage operations at very professional levels [likely banking operations]. We have been watching these markets, as you know, very carefully over the last year.

Safety in banking

There was a time when banks acted as custodians of their customers’ money. Indeed, keeping a person’s money and using it as if it belonged to you without their agreement is fraud in common law. A banking license legally exempts banks from charges of criminality in pursuing the normal course of fractional reserve banking business, by making it clear that you, the customer, agree to being a creditor of the bank instead of the bank acting as custodian for your money.

Silver Market Morning: June 2 2017 - Gold...

As the gold price trading range tightens to a breakout point, we look at the silver price which is presenting a different Technical picture. If the gold price falls the silver price will tumble according to the charts. But if gold rises the silver price will follow as usual. But such a rise will change the Technical picture quite dramatically to the upside. Either way the silver price will prove more explosive than the gold price.

Silver and NASDAQ Strength Will Reverse

Prices for silver and the NASDAQ 100 rise exponentially as unbacked paper currencies are systematically devalued. Expect much higher silver prices because the silver to NASDAQ ratio is too low, along with dozens of other reasons. Consider taking profits out of the NASDAQ to buy silver. Don’t expect to hear this suggestion on Wall Street. Wall Street benefits from higher NASDAQ prices. Wall Street benefits little from higher silver prices, with the exception of JPM which, per Ted Butler’s data, has accumulated a massive hoard of silver bullion. Expect Wall Street to promote buying stocks and discourage acquisition of silver, as usual.

Silver Market Morning: June 1 2017 - Gold...

The dollar continues to weaken slightly and the gold price in the dollar continues to rise, as it is doing in all currencies except the Yuan. The Technical picture shows that it is above resistance but has not yet run as it would have done in the past. Instead it is showing a steady plod with higher lows and higher highs. As we have been pointing out in the Shanghai section above, the influence of Shanghai on the gold price is visible. Its slow plod higher, we see, as evidence of Chinese price dominance at the moment.