• Gold: 1,256.52 0.68
  • Silver: 16.64 -0.05
  • Euro: 1.119 -0.001
  • USDX: 97.304 -0.206
  • Oil: 43.01 0.23

June 23: Gold and Silver End Slightly Higher on the Week

1 hour 57 min ago

Gold gained $8.70 to $1258.80 in early New York trade before it drifted back lower into midday, but it still ended with a gain of 0.46%. Silver rose to as high as $16.788 and ended with a gain of 0.78%.

May 30: Gold and Silver End Mixed To Start Jobs Week

Gold edged up to $1270.40 in Asia before it drifted back down to $1259.50 at about 8:30AM EST and then bounced back higher into midday, but it still ended with a loss of 0.31%. Silver gained $0.15 to $17.47 in Asia before it dropped back to $17.215 in early New York trade, but it then rallied back higher into the close and ended with a gain of 0.52%.

AbraPlata: New Argentinian Player Advancing Substantial Resource with Exploration Upside

In late April, AbraPlata Resource Corp. (ABRA.TSX.V) completed a reverse takeover (RTO) of Huayra Minerals Corp. and began trading on the TSX Venture Exchange under the symbol ABRA and (OTC: ABBRF). Concurrent with the RTO, AbraPlata closed a $2.86 million private placement. On May 16, the company announced, as a result of strong demand, the raise of an additional $775,790 through private placement.

A Mining Company for the Smart Money

Mining investors are shrewd buyers. These metals hounds shop around for projects with high grades, a robust resource, and strong management. Ideally, they would also like projects situated in favorable geography with abundant infrastructure.

Silver Market Morning: May 30 2017 - Gold consolidating lower before Shanghai re-opens!

While Shanghai is closed we feel it opportune re-make an important point on what is going on with the authorities in China, with reference to overall markets there. China wants to gain a reputation of being a reliable, reputable source of prices. This, in the first place, means reducing the volatility, on a permanent basis, that characterized its markets. Its people have become deeply untrusting of equity markets due to its past extreme volatility.

May 26: Gold and Silver Gain Almost 1% and 3% on the Week

Gold climbed higher throughout most of world trade and ended near its late session high of $1269.50 with a gain of 0.87%. Silver rose to as high as $17.379 and ended with a gain of 0.93%.

Silvercorp Declares Dividend - US$0.01 Semi-Annual, up from CAD $0.01

Silvercorp Metals Inc. ("Silvercorp" or the "Company") today announced that its Board of Directors declared a dividend of US$0.01 to be paid on or before June 30 th, 2017 to shareholders of record at the close of business June 9 th 2017.

Silvercorp Net Income $43.7 Million, $0.26 Per Share, For Fiscal 2017

Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE: SVM) reported its financial and operating results for the fourth quarter and twelve months ended March 31, 2017. All amounts are expressed in US Dollars.

Silver Market Morning: May 26 2017 - Gold moving up just above the narrow trading channel!

New York closed $6.08 lower than Shanghai’s close yesterday. London opened today at a $3.87 discount to Shanghai. And there you have it. The evidence is clear that Shanghai is pulling both London and New York higher. Shanghai followed New York on the world clocks with London opening after that. While both London and New York are more volatile than Shanghai, Shanghai gold prices in the Yuan have moved steadily higher over the last few days.

Silver Bullion In Secret Bull Market

Do you think silver is poised to go higher? I sure do. That’s because I’m watching what is going on in the world’s silver ETFs. I’m also watching the mountain of forces that are piling up to push the metal higher. Look at this chart. It shows all the metal held by the world’s physical silver ETFs (black line). And all the metal held by the world’s physical gold ETFs (blue line)…

May 25: Gold and Silver End Slightly Lower

Gold edged up to $1259.70 in Asia before it drifted back to $1253.90 in late morning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.09%. Silver slipped to as low as $17.132 and ended with a loss of 0.17%.

How Undervalued is Golden Arrow Resources?

After reading a few articles & interviews of Chairman, President & CEO Joseph Grosso, I’m struck by the lack of investor appreciation of Golden Arrow Resources‘ (TSX-V: GRG), (OTCQB: GARWF) blockbuster news of it entering into a 25%/75% JV with mid-tier gold / silver producer Silver Standard Resources (NASDAQ: SSRI) (TSX: SSO).

Silver Market Morning: May 25 2017 - Gold moving up within the narrow trading channel as $ weaker!

Shanghai prices rose after New York’s close rose too, catching up slightly to Shanghai, as you can see in the reduced discount New York is standing at. London opened at a smaller discount to Shanghai too. If this continues then Shanghai holds the pricing power. The Yuan overnight was quite a bit stronger against the dollar as the People’s Bank of China pressured the banks to take it higher against the dollar, likely to compensate for the weakness in the dollar.

May 24: Gold and Silver Gain After Fed Minutes Release

Gold dipped $3.90 to $1247.90 in Asia before it bounced back to $1254.30 in early New York trade and then fell to see a slight loss in late morning action, but it then rallied back higher in afternoon trade and ended near its post FOMC Minutes release reaction high of $1257.90 with a gain of 0.43%. Silver rose to as high as $17.199 and ended with a gain of 0.70%.

Abraplata to start 2,000-metre Diablillos drill program

Abraplata Resource Corp. has awarded a 2,000-metre drilling contract to Foraco Argentina SA, the wholly owned Argentine subsidiary of Foraco International SA. A truck-mounted Boart Longyear LF-90 drill rig is being mobilized to undertake a 15-hole program on Abraplata's Diablillos silver-gold project in the high plains desert of the Puna in southern Salta province of northwestern Argentina, and drilling operations are to commence by the end of the week.

Zinc One Provides Update On Bongará Zinc Project

Zinc One Resources Inc. (TSX-V: Z; OTC: ZZZOF, Frankfurt: RH33) (“Zinc One”) is pleased to provide an update on its exploration program of the former producing Bongará Zinc Mine Project upon the formal closing of its acquisition of Forrester Metals Inc. (see news release dated May 16, 2017).

Silver Market Morning: May 24 2017 - Gold pulled back by a stronger dollar, but still within a narrow trading channel!

Again it was a day for the gold price to change because of the dollar’s influence as it strengthened a little, but remained at low levels. There was a significant sale of gold from the SPDR gold ETF which assisted the fall. The discounts of London and New York to China widened quite heavily yesterday, but only to the extent that held the euro price of gold relatively steady.

May 23: Gold and Silver Edge Lower As Dollar Bounces Higher

Gold waffled between $1263.80 and $1258.40 in Asia before it edged back up to $1263.10 at about 9:30AM EST, but it then dropped back off into the close and ended near its late session low of $1250.70 with a loss of 0.67%. Silver slipped to as low as $17.026 and ended with a loss of 0.41%.

Silver Leads Gold In Rate Hike Cycle

Since Chinese New Year buying peaked in February, gold has essentially traded sideways with a mild upside bias. Here’s why: Indian dealers are waiting for the government to announce the GST rate for gold, and it’s too early for them to begin stocking up for Diwali. So, the price discovery ball is now in the US central bank’s court. I’ll dare to suggest that most gold market investors don’t fully understand the relationship between interest rates, money velocity, and gold.

The US Dollar Breakdown Clears The Way For A 70s Style Silver Rally

On the chart, I have marked two fractals (1 to 3). Both fractals exist in similar conditions – relative to the relevant Dow/Gold ratio peaks (1966 and 1999), as well as Dow peaks. Both fractals span over the period of the first phase of the silver bull market during the 70s and the current era (2001 to 2017), respectively. If the comparison is justified, then the US Dollar index will fall significantly during the coming months. Given the fact that silver has traditionally had its strong rallies during times when the US Dollar Index was falling, this bodes well for a silver rally.

Silver Market Morning: May 23 2017 - Gold nudging overhead resistance ahead of a strong move!

What is true is that COMEX has a turnover of 2.1 billion ounces of ‘paper gold’ [Gold derivatives – Options and Futures] Of this between 1% and 5% is actual gold bullion, whereas all of Shanghai’s gold trade is physical gold bullion. i.e. COMEX trades between 653 tonnes and 3,266 tonnes to Shanghai’s almost 14,000 tonnes annually. COMEX’s turnover is far closer to 653 tonnes of physical gold bullion than 3,000 tonnes. This makes New York only 5% of Shanghai’s physical gold bullion turnover.

May 22: Gold and Silver Gain With Stocks and Oil

Gold climbed steadily higher throughout most of world trade and ended near its early afternoon high of $1262.60 with a gain of 0.42%. Silver rose to as high as $17.206 and ended with a gain of 1.78%.

Silver Market Morning: May 22 2017 - Gold continues consolidating in a narrowing range ahead of a strong move!

Today’s gold price is all about a weaker dollar. But the dollar is barely changed against the Chinese Yuan. The dollar took a hammering over the weekend falling to lows on the index that we have not seen for a long time. If the dollar continues to fall, as we expect, the dollar gold price will look strong. Technically, we see higher gold prices, but are keeping our eyes on overhead resistance to see if we can expect a breakout.

May 19: Gold and Silver Gain Over 2% on the Week

Gold gained $7.00 to $1255.90 by a little after 9AM EST before it chopped back towards $1250 into midday, but it then rose to a new session high of $1256.40 in afternoon trade and ended with a gain of 0.49%. Silver climbed to as high as $16.876 and ended with a gain of 1.38%.

Silver Market Morning: May 19 2017 - Gold consolidating in a narrowing range!

When we look back at the actions of Modi and his government in India and on gold, since he came to power, we see that Indian governments are still unhappy with gold in the country and will always be. This is not a small problem for that government, when you consider that the total gold holdings of the world’s central banks is around 34,000 tonnes, private citizens and institutions in India hold around 24,000 tonnes, an amount that is rising by around 1,000 tonnes a year.

May 18: Gold and Silver Fall Roughly 1% While Stocks Rebound

Gold gained $6.10 $1264.80 in London, but it then drifted back lower in New York and ended near its late session low of $1246.60 with a loss of 0.78%. Silver slipped to as low as $16.442 and ended with a loss of 1.66%.

The Silver Reverse Bubble of 2012

In late 2008, when silver was massacred in the futures pit and saw its price fall from over $20 to under $10, I told my readers at that time that silver entered into a “reverse bubble”. I know it sounds odd, but let me re-visit the concept.

Will Silver and Platinum Outperform Gold in the Near Future?

Summing up, the long-term picture in the USD market continues to appear a bit more bearish than not and the implications for the precious metals are generally positive. The silver-to-gold ratio chart suggests that silver is likely to outperform gold in the months to come, yet it should be kept in mind that this may require some time to happen. Additional short-term volatility has been seen in the platinum market, but this is not unusual.

The Silver Megathrust

Between 1970 and 1979, the silver price was increasing steadily from $1.50 to $6, before taking off in September 1979 from $10 to $50 within 5 months. During that bull cycle, demand for silver did not increase but actually declined (sharply in 1979). It was as late as 1983 when demand increased confidently from 12,000 to 27,000 tons per year until 2000 – yet the silver price was in a 20 year bear market during that time. In 2003, when silver started its new bull market, the demand actually dropped to 23,000 tons until 2005 – during which 2 years silver almost doubled from $4.50 to $8. Since 2005, demand is rising stronger than ever, having reached 33,000 tons in 2010, whereas the silver price is rising strongly as well.

Follow SilverSeek.com on Twitter: SilverSeekcom | SilverSeekWire

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Silver Market Morning

Poll: Where will the Silver Price end 2012?

Please vote in our SilverSeek.com Poll! Where will Silver price end 2012? Below $25 $25-30 $30-$35 $35-$40 Above $40

May 9: Gold and Silver Fall 1%

Gold fell over $27 to as low as $1579.74 by about 9AM EST, but it then rallied back higher into the close and ended with a loss of just 0.98%. Silver slipped to as low as $28.629 before it also rallied back higher, but it still ended with a loss of 1.02%.

May 10: Gold and Silver End Mixed

Gold fell another $5.30 to $1585.70 at about 6AM EST before it rebounded to $1601.42 at about 10AM EST and then pared it gains a bit, but it still ended with a gain of 0.19%. Silver slipped to $28.94 before it climbed back to $29.455, but it then fell back off into the close and ended with a loss of 0.48%.

May 11: Gold and Silver Fall About 4% on the Week

Gold fell $20.28 to $1573.72 by about 3:30AM EST before it climbed back to $1590.53 by late morning in New York, but it then fell back off into the close and ended with a loss of 0.8%. Silver slipped to as low as $28.436 by midmorning in New York before it rallied back to $29.15, but it also fell back off in afternoon trade and ended with a loss of 0.58%.

Silver Wheaton Reports a Strong Start to 2012 with Record Quarterly Revenues of US$200 Million

"Solid operating performance from across our portfolio of mines led to a strong start in 2012," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "We achieved record quarterly revenues, and are on target to attaining our annual production guidance of 27 million silver equivalent ounces. With continued positive progress at our world-class cornerstone assets, including the Peñasquito and Pascua-Lama mines, Silver Wheaton retains one of the strongest growth profiles in the sector."

Great Panther Silver Reports First Quarter 2012 Financial Results

"First quarter revenue was directly in line with our expectations, considering the lower production and metal prices compared to Q1 of last year," stated Robert Archer, President and CEO. "This was also a timing issue for us related to a shipment of concentrate to a new smelter where the revenue will be recognized in Q2 this year. With the addition of this new customer, we have secured contracts for the sale of our concentrates for our 2012 planned production."

Live Silver Price Chart

Live 1-Hour Spot Silver Price Chart: http://www.silverseek.com/quotes/hoursilver.php

May 17: Gold and Silver Gain Over 2% and 3%

Gold jumped to as high as $1579.80 by midday in New York before it drifted a bit in afternoon trade, but it still ended with a gain of 2.23%. Silver surged to as high as $28.33 and ended with a gain of 3.2%.

Poll Results: Where will Silver End 2012?

Total votes: 1199 | #1 result = Above $40 (583 votes)

May 21: Gold and Silver End Mixed

Gold fell $6.40 to $1585.00 at about 9:30AM EST, but it then chopped back higher midday and ended with a gain of 0.16%. Silver slipped to as low as $28.076 before it also bounced back higher, but it still ended with a loss of 0.56%.

Huldra Silver Announces Receipt of Mines Act Permits and Amendment to Terms of Credit Facility

Huldra Silver Inc. (HDA.V) (the "Company" or "Huldra") is pleased to announce that the Company has received a Mining Lease and a British Columbia Mines Act Permit approving a mine plan and reclamation program for the Company's Treasure Mountain Mine along with an Amended Permit approving construction and operation of a process plant at the Company's mill site in Merritt, BC.

COMEX Silver Inventory Update: +528,970.137 ounces

COMEX Silver Inventory Update: +528,970.137 ounces

May 31: Gold and Silver End Slightly Lower

Gold jumped to $1573.17 at about 9:45AM EST before it plummeted back to $1552.29 in the next half hour of trade and then bounced back higher midday, but it still ended with a loss of 0.17%. Silver climbed to $28.213 in London and then fell back to $27.54 in midmorning New York trade before it the bounced back higher midday, but it still ended with a loss of 0.68%.

iShares Silver Trust: 9,643.17 tonnes

iShares Silver Trust: 9,643.17 tonnes

June 21: Gold and Silver Fall Over 2% and 4%

Gold fell to as low as $1564.57 and ended with a loss of 2.5%. Silver slipped to as low as $26.849 and ended with a loss of 4.13%.

Pan American Silver Falls to Levels Below Book Value

In trading on Friday, shares of Pan American Silver Corp. (Toronto: PAA) crossed below their last reported book value — defined as common shareholder equity per share — of $17.83, changing hands as low as $17.70 per share. Pan American Silver Corp. shares are currently trading down about 3.2% on the day.

Silver Market Morning

Gold closed in New York at $1,598.70, up $20. Asia took it up to $1,606 ahead of London’s opening, while the euro stood at €1: $1.2602. The gold Fix was set at $1,608.50 and in the euro €1,278.312. Ahead of New York’s opening, gold stood at $1,609.65 and in the euro, €1,279.23 while the euro was at €1: $1.2583.

July 13: Gold and Silver End Slightly Higher on the Week

Gold rallied to as high as $1596.35 and ended with a gain of 1.04%. Silver rose to $27.509 in London before it slumped back to $27.14 in midmorning New York trade, but it then surged to a new session high of $27.56 and ended with a gain of 0.3%.

July 19: Gold and Silver End Slightly Higher

Gold climbed up to $1591.49 at about 8:30AM EST before it fell back to as low as $1577.15 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.23%. Silver rose to $27.60 before it dropped back to $27.13, but it still ended with a gain of 0.07%.

July 23: Gold and Silver End Modestly Lower

Gold fell to as low as $1563.41 by about 8:45AM EST, but it then rallied back higher throughout the rest of the morning in New York and ended near its noontime high of $1580.30 with a loss of just 0.42%. Silver slumped to as low as $26.671 before it also rallied back higher and ended with a loss of just 1.14%.

The “Summer Games” Go On

And the “summer games” go on, with TPTB “locking down” Precious Metals with daily caps at the same times, while the “DOW JONES PROPAGANDA AVERAGE” surges at the NYSE open and is NEVER allowed to fall.

Why Is The Future Silver Supply More at Risk than Gold?

The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system. Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome. However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner.

The Silver Reverse Bubble of 2012

In late 2008, when silver was massacred in the futures pit and saw its price fall from over $20 to under $10, I told my readers at that time that silver entered into a “reverse bubble”. I know it sounds odd, but let me re-visit the concept.

Silver: Supply and Demand Part 2, Investment Demand

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.

JP Morgan Silver Manipulation

Silver Chart and Comments

Silver continues to be the poor poster child for the Deflation or Risk Aversion Trade. It's chart is abysmal at this point as it has steadily retreated since peaking near $50 in what seems a lifetime ago. About the only positive thing that can be said about it is that is had not been below the $26 level for some time now. That level still seems to be bringing in buyers.

Silver Grumps

Attention, Class: Silver and gold are static assets. They are constants. They don't actually move much. What happens is that the metrics by which we measure Silver and Gold jump around like horny ticks on a hot dog. It is the fraud of the 20th and 21st Centuries.

South American Silver Responds Strongly To Bolivian Government Statements

South American Silver Corp. (SAC.TO)(SOHAF) today expressed extreme disappointment in statements made this evening by the Bolivian government that it intends to nationalize the company's development stage Malku Khota silver-indium-gallium project.

Bolivia to consider nationalizing embattled silver project

Bolivia will consider nationalizing Canadian miner South American Silver Corp's silver property, President Evo Morales said on Sunday, following violent indigenous protests against the mining project. Leftist Morales, who last month took control of global commodities giant Glencore's tin and zinc mine in the Andean country, said he hadn't taken a final decision on whether to revoke the Canadian miner's concession.

August 3: Gold and Silver End Mixed on the Week

Gold climbed $11.03 to $1599.73 by a little after 8AM EST before it dropped back to $1586.90 immediately after the jobs report was released, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.89%. Silver slumped down to $27.066 in early New York trade, but it then surged to as high as $27.883 and ended with a gain of 2.4%.

Silver is for Champions

The thoughts of millions of ice hockey fans turned to silver this week – more specifically, to the nearly 35 pounds of silver in the National Hockey League’s Stanley Cup, the century-old championship symbol of professional hockey. The Los Angeles Kings ultimately lifted high the iconic trophy made of sterling silver.

Is the Silver’s Move Above Its 50-day Moving Average a Bona Fide Buy Signal?

Summing up, there are virtually no positive signs for the white metal in this week’s chart except for the move above the 50-day moving average. This move was not accompanied by analogous breakouts in gold nor mining stocks, so we don’t view it as overly important. The silver-to-gold ratio indicates further weakness ahead.

Maintain The Status Quo

The name of the game is the “maintain the status quo” – first until the Europeans return from August vacations, and second in front of the U.S. elections. Today’s “retail sales” fiasco – following perhaps 20 HORRIBLE, GLOBAL economic reports, was no different than last month’s NFP Employment Report, when unprecedented “seasonal adjustments” turned what should have been a BIG decline into a big increase.

Bill Murphy Comments On Today's Market Action

It's go into the bunker time as markets are in sell everything mode. It is a sad day when King Dollar reigns. Our politicians can't even deal with cutting the rate of our debt increases, much less really address our mounting fiscal problems.

Charts: Silver Price, Silver Stocks Reverse from Lows

The silver price has made a strong reversal from big technical supports around $27. Silver stocks have also moved off their early morning lows, crossing into positive terriroty mid-day and gaining steadily into the close:

Silver Market Update

Silver investors and speculators are amongst the manic-depressive you can possibly find in the investment world. When they are playing maximum credits on the slots and passing round boxes of cuban cigars and taking out massive loans to buy Ferraris and Lambos you know it's time to watch out. When they retreat into the shadows, only coming out to hurl themselves off bridges and other tall structures, mumbling about the "cartel" as they plummet earthwards, you know it's getting time to buy - and that is the situation we now find ourselves in. In this update we are going to examine evidence which suggests that, despite the fragile looking price pattern, silver is going to turn surprisingly strong in short order, or alternatively, if it does break down, it turns out to be a false move that is swiftly followed by a dramatic recovery.

July 25: Gold and Silver Gain Over 1%

Gold climbed steadily higher throughout most of trade in London and New York and ended near its late session high of $1610.10 with a gain of 1.4%. Silver surged to as high as $27.559 and ended with a gain of 1.3%.

Sprott mum after Hecla offers cash for U.S. Silver in hostile bid

The head of Sprott Asset Management, Eric Sprott, was keeping his cards close to his chest after Hecla Mining made a hostile C$111-million cash offer to buy U.S. Silver that would derail a Sprott-backed plan to merge U.S. Silver with RX Gold & Silver.

COMEX Silver Inventory Update: -996,615.750 ounces

COMEX Silver Inventory Update: -996,615.750 ounces