• Gold: 1,231.21 0.45
  • Silver: 15.51 -0.00
  • Euro: 1.173 0.000
  • USDX: 94.322 -0.127
  • Oil: 68.22 0.09

July 20: Gold and Silver Fall Almost 1% and 2% on the Week

2 days 11 hours ago

Gold saw slight losses in Asia, but it then climbed steadily higher in London and New York and ended near its session high of $1232.10 with a gain of 0.65%. Silver rose to as high as $15.536 and ended with a gain of 1.24%.

Defiance Acquires Mag Silver's Zacatecas Silver District Holdings; Mag Becomes Strategic Shareholder

Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) ("Defiance") is pleased to announce that it has entered into a binding agreement to acquire MAG Silver's Zacatecas Silver District holdings. As consideration for the sale, MAG will acquire 5,000,000 common shares of Defiance representing an approximate 5% strategic investment position. Defiance will receive a 100% interest in MAG's Lagartos Project along with a significant regional exploration database covering 135,000ha stretching from the Zacatecas to the Fresnillo Silver Districts.

Silver Shares? Nobody Cares.

Almost nothing happened on the precious metals market yesterday, or at least that may seem to be the case as the first sight. And that’s true if one doesn’t count the spike in GLD’s volume, but there was something else that actually should have caught one’s attention and it probably wasn’t the case for many gold traders. Silver stocks just broke to new monthly low. What does this tell us?

June 12: Gold and Silver Fall Before Fed Day

Gold dipped $7.20 to $1293.20 in early New York trade before it bounced back to $1299.60 by late morning, but it then drifted back lower into the close and ended with a loss of 0.33%. Silver slipped to as low as $16.734 before it rallied back to $16.946, but it then chopped back lower in afternoon trade and ended with a loss of 0.41%.

June 11: Gold and Silver Gain with Stocks and Oil

Gold gained $2.60 to $1301.10 in Asia before it fell back to $1294.20 in London, but it then climbed to a new session high of $1302.10 by late morning in New York and ended with a gain of 0.15%. Silver chopped between $16.748 and $16.939 and ended with a gain of 1.01%.

Silver’s Not-so-subtle Outperformance

Silver soared recently and white metal’s rally was accompanied by a huge volume. Those who are new to the precious metals market will probably immediately view this as bullish as that’s what the classic technical analysis would imply. Silver is not a classic asset, though, and classic measures often don’t apply to it. One way to check the real implications of a given development is to examine the previous cases and see what kind of action followed. That’s what we’re going to do in today’s free analysis. Let’s start with silver’s daily chart.

SWOT Analysis: Silver Outperforms Gold with Five Straight Days of Gains

The best performing metal this week was silver, up 2.24 percent. A majority of gold traders were either bullish or neutral on bullion this week after being mostly bullish last week due to political uncertainty in Europe, according to the weekly Bloomberg survey. India saw a third straight session of high gold prices due to continued buying by local jewelers with prices hovering around $1,300 internationally.

June 8: Gold Gains and Silver Rises Over 2% on the Week

Gold dipped to $1294.20 in Asia before it bounced back to $1300.50 in London and then drifted in New York, but it still ended with a gain of 0.12%. Silver chopped between $16.622 and $16.822 and ended with a gain of 0.42%.

The Deviant Conundrum called Silver

When I was a young lad, there was a classmate (let's call him "Frankie") in the very early years of my education whose behavior was quite often deemed as "peculiar" and while I found him immensely entertaining, the teaching staff and my fellow students did not entirely agree. Frankie was the kind of kid who would bang on our doorknocker on a frigid winter morning just before sunrise, fully clad in hockey skates, gloves and stick, and ask if he could skate on our frozen backyard hockey rink. The fact that it was a school day made it not exactly the brightest of decisions but my Dad would invariably say "Alright. You two boys have got 20 minutes then back in your houses to get ready for school."

June 7: Gold and Silver Hold Near Unchanged

Gold gained $6 to $1303.10 at about 8:30AM EST before it fell back to $1294.90 by midmorning, but it then bounced back higher into the close and ended with a loss of just 0.015%. Silver rose to as high as $16.894 and ended with a gain of 0.06%.

June 6: Gold and Silver End Higher in Mixed Trade

Gold chopped between $1299.40 and $1294.20 in Asia and London before it climbed to a new session high of $1301.60 by a little after 10AM EST and then drifted back lower into the close, but it still ended with a gain of 0.05%. Silver rose to as high as $16.73 and ended with a gain of 1.15%.

Silver – The Original World Currency

Silver has been money, and currency, longer than gold. The word “silver” actually translates to “money” or vice-versa in many countries around the world. Any true Christian knows that Judas sold out Jesus Christ for silver. Some theologians have reached the conclusion that Judas sold out Christ for approximately 30 pieces of silver. What would the value of 30 pieces of silver been in time of Christ?

June 5: Gold and Silver Gain While Dollar Dips

Gold gained $8.70 to as high as $1300.50 in early afternoon New York trade before it drifted back lower into the close, but it still ended with a gain of 0.36%. Silver rose to as high as $16.53 and ended with a gain of 0.55%.

Silver Manipulation Coming to Fore

The only remaining question at this point is wether anything will come from this or not. My pessimism says, currently, nothing will change. However, with all the uprising in both the U.K. and the U.S. I am hopeful that change will be realized in our lifetime and these criminal shenanigans will come to an end. Time will tell.

June 4: Gold and Silver End Near Unchanged in Mixed Trade

Gold dipped $2.70 to $1290.40 in Asia before it rallied up to $1297.70 in London, but it then drifted back lower in New York and ended with a loss of 0.1%. Silver chopped between $16.37 and $16.542 and ended with a gain of 0.06%.

Surging COMEX Silver Deliveries

The month of May is a "delivery month" for COMEX silver, and the total amount of "deliveries" has reached a level not seen since 2007. As you can see below, the total amount of "deliveries" for May has reached 7,157 contracts. This is the highest one-month total since December of 2007, and it represents a total "delivery" of nearly 36,000,000 ounces of "silver". (Thanks to Nick Laird at GoldChartsRUs!)

May 25: Gold and Silver Find Slight Gains on the Week

Gold chopped up to $1307.80 at about 9AM EST before it drifted back lower into the close, but it ended with a loss of just 0.31%. Silver slipped to as low as $16.489 and ended with a loss of 0.36%.

May 24: Gold and Silver Gain Roughly 1%

Gold gained $13 to $1306.60 by midmorning In New York before it drifted back lower at times, but it still ended with a gain of 0.83%. Silver rose to as high as $16.688 and ended with a gain of 1.28%.

May 23: Gold Gains While Silver Slips

Gold dipped $2.70 to $1289.20 in Asia before it bounced back to $1297.80 in London and then fell to a new session low of $1288.30 at about 9AM EST in New York, but it then chopped back higher into the close and ended with a gain of 0.13%. Silver slipped to as low as $16.319 before it also rallied back higher, but it still ended with a loss of 0.54%.

May 22: Gold and Silver End Mixed

Gold dipped $4.30 to $1287.90 in Asia before it edged up to $1296.00 by midmorning in New York and then drifted back lower into the close, but it ended with a loss of just 0.02%. Silver chopped between $16.448 and $16.665 and ended with a gain of 0.24%.

May 21: Gold and Silver Reverse Overnight Losses To End Higher

Gold fell $9.70 to $1282.00 in Asia, but it then rallied back higher throughout trade in London and New York and ended near its late session high of $1292.90 with a gain of 0.04%. Silver rose to as high as $16.516 and ended with a gain of 0.43%.

SWOT Analysis: Is Silver Poised For A Rebound?

The best performing metal this week was silver, down just 1.34 percent. Both gold and silver stabilized by Wednesday, after real yields surged about 9 basis points the first few days of the week, and then largely traded sideways the rest of the week. Despite the dollar the interest rates continued higher, but at a slower pace.

Incomplete silver COT analysis, revisited

In a blog post a week ago I discussed why silver’s Commitments of Traders (COT) situation was nowhere near as bullish as it had been portrayed in numerous articles over the preceding two months. This prompted some criticism that involves a misunderstanding of how I use the COT data. Before I address the criticism, a brief recap is in order.

Ira Epstein's Silver Report

On a close under 15.90, you might consider a purchase of a 14.00 Put. On a close over 16.25, consider a 19.00 Call. Once you enter, consider writing a further out of the money Put if you bought a Put or writing a further out of the money Call if you bought a Call. By doing so, you will cut down the amount of risk and cost of the original Put or Call while allowing participation via the breakout.

May 18: Gold and Silver Fall Roughly 2% on the Week

Gold fell $4.90 to $1286.10 at about 9AM ET before it bounced back to $1292.90 in the next couple of hours of trade and then pared back to about unchanged by midday, but it then edged back higher into the close and ended with a gain of 0.05%. Silver dipped down to $16.361 before it rallied back to $16.466, but it then edged back lower in the final minutes of trade and ended with a loss of 0.06%.

May 17: Gold and Silver Chop Near Unchanged

Gold saw slight gains in Asia before it dropped back to $1285.40 in London and then rebounded in New York, but it ended with a gain of just 0.05%. Silver chopped between $16.325 and $16.489 and ended with a gain of 0.43%.

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%.

COMEX Silver Inventory Update: -1,329,524.330 ounces

COMEX Silver Inventory Update: -1,329,524.330 ounces

July 27: Gold and Silver Gain About 2% on the Week

Gold climbed almost 1% to $1629.31 at around 8:20AM EST before it drifted back lower at times in New York, but it then bounced back higher in late trade and ended with a gain of 0.48%. Silver surged to as high as $27.839 before it also fell back off at times, but it still ended with a gain of 0.98%.

COMEX Silver Inventory Update: -287,542.774 ounces

COMEX Silver Inventory Update: -287,542.774 ounces

iShares Silver Trust: 9,759.01 tonnes

iShares Silver Trust: 9,759.01 tonnes

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