• Gold: 1,280.72 -4.70
  • Silver: 16.98 -0.05
  • Euro: 1.177 0.000
  • USDX: 93.6 0.114
  • Oil: 52.41 0.45

Silver Bullion Prices Set to Soar

52 min 33 sec ago

With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages. “Silver is definitely undervalued compared to gold and as a stand-alone investment. I consider it likely to be the most undervalued asset in the general investment markets,” says Paul Mladjenovic, author of Precious Metals Investing For Dummies.

JP Morgan Silver Manipulation

Chart to keep an eye on - Silver

Silver Market Update

September 13: Gold and Silver Fall With Stocks, Bonds, and Oil

Gold gained $5.02 to $1332.02 in Asia, but it then fell back off in New York and ended near its late session low of $1315.66 with a loss of 0.68%. Silver slipped to as low as $18.792 and ended with a loss of 1.36%.

SilverCrest Announces Remaining Phase I Drilling Results from Las Chispas Project; Further Drilling Confirms Grade Continuity in Las Chispas Vein

SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce the results of the remaining drill holes from Phase I drilling for the Las Chispas Project. The Las Chispas Project (“Las Chispas”) is located in Sonora State, Mexico and is in a historic silver-gold mining district which presently hosts two nearby precious metal producers. Historic information indicates that of the fourteen historically reported veins at Las Chispas, only three veins, the Las Chispas, William Tell and Babicanora, had documented production, which occurred between 1880 and 1930.

September 14: Gold and Silver Gain While Dollar and Oil Fall

Gold gained $7.51 to $1325.51 by late morning in New York before it chopped back lower in early afternoon trade, but it still ended with a gain of 0.35%. Silver climbed to as high as $19.118 and ended with a gain of 0.58%.

September 15: Gold and Silver Close Mixed While Stocks Rise 1%

Gold chopped around a $7 range on either side of unchanged in Asia before it dropped down to $1309.46 by a little after 10AM EST and then bounced back to almost unchanged at $1321.18 in the next hour of trade, but it then drifted back lower in afternoon trade and ended with a loss of 0.65%. Silver climbed up to $19.129 before it dropped back to $18.823, but it then rallied back higher in late morning trade and ended with a gain of 0.11%.

Market Report: Consolidation enters tenth week

Traders have returned to their desks this month to find the economic and interest rate outlook is as uncertain as ever. After recent attempts to prepare the market for a September rise in the Fed Funds Rate, from various officials’ statements the Fed appears to have backed off, leaving open the possibility it will raise rates in December instead. We will know the outcome of the September meeting this coming week on 20-21 September, after which Ms Yellen will hold her quarterly news conference.

September 19: Gold Gains and Silver Surges 2%

Gold gained $7.16 to $1318.06 in Asia before it drifted back lower in London and New York, but it still ended with a gain of 0.18%. Silver rose to as high as $19.298 and ended with a gain of 2.08%.

September 20: Gold and Silver Gain Before Fed Day

Gold gained $3.99 to $1317.29 in Asia before it fell to see a slight loss at $1312.36 at about 9:30AM EST, but it then bounced back higher in the next couple of hours of trade and ended with a gain of 0.1%. Silver rose to as high as $19.266 and ended with a gain of 0.37%.

Silver Market Morning: Sep-21-2016 --Gold and silver waiting for the Fed!

There were substantial sales from the SPDR gold ETF yesterday, but Shanghai ignored it then London tried to pull prices back, to sit in the middle between New York and Shanghai. This is only the second time Shanghai has walked its own road very clearly. Before, exchange rate changes could have explained the moves, but not this time. If this pattern is continued pricing power will be shifting to China from New York.

Golden Arrow Advances Mine Permitting at Chinchillas Silver Project

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF)(WKN:A0B6XQ) ("Golden Arrow") is pleased to announce that the Environmental Report ("ER") for exploitation at the Chinchillas project has been submitted to the mining authority in the Province of Jujuy.

September 21: Gold Gains and Silver Surges Over 3% Higher

Gold dipped $3.64 to $1310.96 in Asia before it rallied up to $1329.39 at about 8AM EST and then drifted back lower at times, but it then jumped up to $1335.12 after today’s fed statement and ended with a gain of 1.48%. Silver rose to as high as $19.864 and ended with a gain of 3.12%.

September 22: Gold and Silver End Slightly Higher

Gold edged down to $1331.45 in Asia before it climbed up to $1343.53 by midday in New York and then fell back off in the next few hours of trade, but it still ended with a gain of 0.23%. Silver rose to as high as $20.052 and ended with a gain of 0.35%.

Market Report: Weak policies equal higher gold prices

Gold and silver had begun to rally ahead of the interest rate announcements, and following the Fed’s on Wednesday night, gold jumped 2%, and silver by 4%. Silver in particular has had a good week, with the dollar price rising from a low of $18.78 to a high yesterday (Thursday) of $20.07, up nearly 7%. This morning it had eased to $19.80 in early European trade. Gold rose from a Monday low of $1309.5 to a high of $1343.7 yesterday, a rise of 2.6%.

September 23: Gold and Silver Gain About 2% and 5% on the Week

Gold edged down to $1333.80 in Asia before it climbed up to $1340.56 in early New York trade and then chopped back lower into the close, but it still ended with a gain of 0.06%. Silver slipped to as low as $19.585 and ended with a loss of 1.21%.

Silver Market Morning: Sep-27-2016 -- Gold and silver still building strength!

For gold investors and macro-economic followers, the issues seem to be simpler. We have had for several years now a government that was gridlocked [emasculated?] as regards taking effective action. A Clinton Presidency would continue that [good for gold prices]. A Trump Presidency would remove that and give power to ‘government’ to act decisively once more. We see a large potential for globally divisive policies [good for gold prices too] under such a presidency.

September 27: Gold and Silver Fall Roughly 1%

Gold dropped $12.09 to $1325.21 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.76%. Silver slipped to as low as $18.982 and ended with a loss of 1.34%.

September 28: Gold and Silver End Mixed While Oil Jumps

Gold dipped $4.46 to $1322.74 in Asia before it edged back to $1326.89 in London and then fell to a new session low of $1318.20 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.32%. Silver slipped to as low as $18.916 at one point, but it then rallied back higher into the close and ended with a gain of 0.1%.

September 29: Gold and Silver End Slightly Lower While Stocks Drop Roughly 1%

Gold saw slight gains in Asia before it fell to see a $6.78 loss at $1316.12 in late morning New York trade and then bounced back above unchanged in early afternoon action, but it then fell back off again into the close and ended with a loss of 0.11%. Silver slipped to $19.008 and ended with a loss of 0.47%.

September 30: Gold and Silver Fall Roughly 2% on the Week

Gold gained $6.59 to $1327.99 at about 9AM EST before it chopped down to $1314.19 in early afternoon New York trade, but it then bounced back higher in late trade and ended with a loss of just 0.3%. Silver surged over 3% to $19.692 before it also fell back off, but it still ended with a gain of 0.47%.

Silver Market Morning: Oct-3-2016 -- Gold and silver struggling at support!

Once again we see lower prices dominating while Shanghai is on holiday. New York prices dominate when China is closed. The Yuan is now part of the SDR of the IMF, for the Chinese an important step on the way to international acceptability as a global currency. We expect to see its use accelerate from now on. Today’s Yuan exchange rate is merely academics because of the holiday there.

Fortuna Announces Change in the Board of Directors

Fortuna Silver Mines Inc. (FVI.TO)(FSM) Mr. Simon Ridgway, Chairman of the Board, is pleased to announce the appointment of Mr. David Laing to the Board of Directors of the company.

Golden Arrow Reports Final Chinchillas Phase VI Drill Results & Expands Mineralization to the East

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF)(WKN:A0B6XQ) ("Golden Arrow") is pleased to announce the results of assaying of the final twelve drill holes in the Phase VI drilling program at its Chinchillas Silver Project in Jujuy Province, Argentina.

Willem Middelkoop: The SDR Has Arrived and Silver Should Expect to See Shortages in the Market

The renminbi was added to the SDR (Special Drawing Rights) basket of currencies on Saturday October 1, 2016. Nothing changed, the dollar didn’t blow apart and the world is still functioning as normal. Why? Because the people, around the world, still accept their currencies issued by the central bank in their respective country. We will not see any changes to the system until the next crisis. The next crisis could come today, tomorrow or fifteen years from now. The next crisis will be slowed, and possibly stopped by central banks around the world “printing” trillions of units of currency.

Gold and Silver Market Morning: Oct-4-2016 -- Gold breaks down through $1,300!

The Technical picture shows a break down through support and is now looking for the bottom or are we there now? We do know that at these levels there are many buyers just waiting to get in once a bottom is found. With China in its ‘Golden Week’ of holidays there is little drive to take gold prices higher at the moment. Even U.S. based gold ETFs are now seeing no demand [just small sales].

October 5: Gold and Silver End Slightly Lower

Gold gained $8.27 to $1276.97 at about 8:30AM EST before it fell back to $1262.25 in the next 4 hours of trade, but it then bounced back higher in late trade and ended with a loss of just 0.17%. Silver climbed above $18 in Asia before it fell back to $17.555 in New York, but it ended with a loss of just 0.5%.

October 7: Gold and Silver Fall Almost 5% and 9% on the Week

Gold jumped up to $1264.23 after the release of this morning’s jobs data before it fell back to $1242.42 in early afternoon New York trade, but it then rallied back higher into the close and ended with a gain of 0.06%. Silver rose to as high as $17.612 and ended with a gain of 0.81%.

Silver Market Morning: Mar 10 2017 - Gold consolidating after the Jobs report!

The demand for gold in Shanghai at the moment is not sufficient to lift its own prices let alone those of New York or London, as we see above. This is in the face of a weakening Yuan. The head of the People’s Bank of China stated that the Yuan exchange rate will remain stable going forward. We are always wary of central bank statements on exchange rates, because history shows that such statements are usually way off the mark.

Market Report: Waiting on the Fed

The bears are quick to point out that $1200 and $17 levels respectively are being breached, and the downtrends are being resumed. This view suits the large bullion banks, which have been running short positions, because it has panicked the managed money crowd into closing their longs on Comex. All this has nothing to do with physical demand, and it is likely that Asians, who are value buyers, are adding to their holdings. Furthermore, the central banks, which tend to buy when physical is offered, are also buyers. So, what this is about is about the dollar, Comex, and nothing more.

Ron Paul: Testimony in Support of Arizona Honest Money Bill, HB2014

Ron Paul visited the Arizona state Senate Committee on Finance on Wed. March 8, 2017 to testify in support of what he called a "very important" honest money bill, HB2014. "If you want to have liberty and limit the size of government, you have to have honest money," said Paul. The proposed legislation would treat gold and silver as they should be under the Constitution - that is, as money. In doing so, the state would no longer tax "capital gains" on the exchange of federal reserve notes for gold/silver and vice versa.

March 10: Gold and Silver Fall About 2% and 5% on the Week

Gold fell $6.90 to $1195.00 in Asia before it jumped up to $1206.30 at about 9AM EST and then drifted back below $1200 in the next few hours of trade, but it then rallied back higher into the close and ended with a gain of 0.21%. Silver rose to as high as $17.079 and ended with a gain of 0.41%.

Silver Market Morning: Mar 13 2017 - Gold consolidating against a weaker dollar!

At the close in Shanghai today, the gold price was trading at 273.0 Yuan, which directly translates into $1,229.71. But allowing for the difference of gold being traded this equates to a price of $1,225.71. This more than $21.31 higher than the New York close and $16.51 higher than London.

Of Useful Idiots and COMEX Silver Speculators

Incredibly, open interest (OI) on COMEX silver continues to skyrocket, now only a few thousand contracts from all time highs. Why is this happening? Answer: Hedge fund buying with other people’s money. What’s more, the options are largely viewed as sacrifice trades (hedges), seen as lost money before the trade is put on, because if they don’t pay off this means the rest of their gambling probably will.

Why Did Silver Fall

The question on the lips of everyone who plans to exchange his metal for dollars—widely thought to be money—is why did silver go down? The price of silver in dollar terms dropped from about 18 bucks to about 17, or about 5 percent.

March 13: Gold and Silver End Near Unchanged As Markets Await Fed

Gold gained $6.60 to $1211.00 in Asia before it dropped back to $1202.50 in midmorning New York trade, but it then chopped back higher at times and ended with a gain of 0.02%. Silver rose to as high as $17.143 before it dropped back to $16.951 and then also bounced back higher, but it still ended with a loss of 0.41%.

March 14: Gold and Silver End Lower Before Fed Day

Gold fell $4 to $1200.60 in Asia before it bounced back to $1207.60 in late morning New York trade, but it then drifted back lower into the close and ended with a loss of 0.49%. Silver slipped to as low as $16.866 and ended with a loss of 0.53%.

Silver Market Morning: Mar 15 2017 - Gold still waiting for the Fed!

At the close in Shanghai today, the gold price was trading at 272.50 Yuan, which directly translates into $1,226.16. But allowing for the difference of gold being traded this equates to a price of $1,221.16. This more than $22.46 higher than the New York close and $19.16 higher than London.

March 15: Gold and Silver Gain Almost 2% And 3% After Dovish Fed

Gold gained $6.50 to $1205.20 in Asia before it fell back under unchanged at $1197.80 just after 10AM EST, but it then shot to as high as $1220.60 in the last minutes of trade and ended with a gain of 1.78%. Silver jumped to as high as $17.35 and ended with a gain of 2.55%.

Silver Market Morning: March-16-2017 -- Silver jumping after the Fed!

As we said yesterday, “One of the dangers of getting carried away by the early days of a new President is that markets can run too far and ahead of the realities facing that President. This may well prove to be the case with the sell-off in gold of late.....” The Fed has not joined in that exuberance, instead of just raising interest rates by 0.25% but making dovish statements that while a total on 3 rate hikes can be expected, the Fed will maintain its accommodative stance. This disappointed many markets sending equity markets higher [because the fear of much higher rates in the future has dissipated] and the dollar lower against all currencies. Gold benefitted and traded higher, but the digestion of the Fed’s speech leaves more gold price rises to come.

March 16: Gold and Silver Gain Again

Gold gained $8.80 to $1228.80 in Asia before it dropped back to $1223.40 in London, but it then climbed to a new session high of $1233.40 in New York and ended with a gain of 0.52%. Silver rose to as high as $17.551 before it fell back to $17.244 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.06%.

Is Silver a Better Value than Gold Right Now?

Earlier this month, I wrote that we would have a window of a few more days to weeks in order to get on board with gold and silver mining stocks at a good price for the first half of this year. I also have written extensively this year about the necessity of using hedges during raids on gold and silver combined with temporary moves to cash to balance out any downside exposure during these raids, and mentioned that again we had applied some hedges against paper gold and paper silver during this last raid. We unwound one hedge last Friday, and we unwound the others earlier this week.

Silver Market Morning: Mar 17 2017 - Gold jumping after the Fed!

At the close in Shanghai today, the gold price was trading at 275.90 Yuan, which directly translates into $1,242.46. But allowing for the difference of gold being traded this equates to a price of $1,237.46. This more than $11.16 higher than the New York close and $10.46 higher than London. As you can see the price differentials between the three centers has been narrowing considerably. With today being a day when the gold markets are taking a breather after the rise we expect the differentials to continue to narrow as Shanghai pulls gold prices higher across the world.

Market Report: Turning the corner

Silver is getting left behind as our introductory chart shows, with it up only 8.7% this year so far, while gold is up 6.5%. Normally, silver moves on average slightly less than twice that of gold, suggesting the right price for silver should be about $17.80. Silver’s slight loss in performance is shown in the gold/silver ratio, which is our next chart.

March 17: Gold and Silver Gain 2% on the Week

Gold chopped up to $1231.50 at about 10AM EST before it drifted back lower at times, but it still ended with a gain of 0.2%. Silver rose to as high as $17.412 and ended with a gain of 0.35%.

Silver Market Morning: Mar 20 2017 - Gold consolidating at higher levels!

The price differential between the three centers is widening again as China once again is leading the way on gold prices. But you will note that Chinese gold prices have barely changed in the last two days leading to the conclusion that Shanghai is making the gold price but exchange rate changes are changing prices in other currencies. The dollar continues to weaken taking gold prices higher there.

March 20: Gold and Silver Gain With Bonds

Gold gained $6.60 to $1235.40 in Asia before it pared down to $1230.30 in London, but it then rallied back higher in New York and ended with a gain of 0.47%. Silver rose to as high as $17.457 and ended with a gain of 0.23%.

Silver 1/70th The Price of Gold – Silver Eagles Sales Jump

– Silver just 1/70th the price of gold – Silver at $17.50 per ounce set to rise “faster than gold” – Silver Eagles (1 oz) buying jumps to 715,000 this week – “Supply may drop following mine closures” – Standard Chartered – Industrial demand “will remain strong” – CPM Group – Silver is substantially undervalued versus gold – Gold silver ratio to fall back below 30

Silver Market Morning: Mar 21 2017 - Gold still consolidating at higher levels!

Turning back to the G-20 statement we note that the G-20 maintained its call for competitive devaluations and FX market instability to be avoided. While it goes against brazen devaluations for the sake of gaining competitive advantage, protectionism will alter trade balances, which will affect exchange rates. Behind such international plays, nations do attempt to keep their exchange rates low and lower. So while brazen currency wars are to be avoided, they will continue indirectly.

March 21: Gold and Silver Gain While Stocks Drop Over 1%

Gold fell $7.80 to $1226.80 in Asia, but it then jumped to as high as $1247.60 in New York and ended with a gain of 0.81%. Silver surged to as high as $17.592 and ended with a gain of 0.57%.

Silver Market Morning: Mar 22 2017 - Gold holding new gains!

The gold price in Shanghai jumped 2.50 Yuan today, but the rise was greater when translated into the weak dollar. As you can see, London and New York are trying to catch up with Shanghai as the price differentials narrow. That’s why the concept of a ‘Chinese gold price premium’ distorts the reality of what’s happening. China is no longer a distant sub-market of London, while India continues to be so, as that country with its gold taxes and political interference cannot function nearly as well as Shanghai with its highly developed, huge, physical market.

March 22: Gold and Silver Gain Again

Gold gained $4.40 to $1249.00 in Asia before it fell back to unchanged at $1244.60 in London, but it then jumped to as high as $1251.30 in New York and ended with a gain of 0.26%. Silver rose to as high as $17.586 and ended with a gain of 0.06%.

Silver Market Morning: Mar 23 2017 - Gold making new gains!

You will note how Shanghai prices have been steady after jumping with London and New York’s ‘discounts’ narrowing a great deal. We attribute this to arbitrageurs or western dealers making sure their prices are not out of line. Why do we stress this? It shows the lessening impact of western news items and COMEX actions. It ensures that gold prices are more currency related. We believe it is already reducing the volatility in global gold markets.