• Gold: 1,301.33 1.22
  • Silver: 16.47 -0.02
  • Euro: 1.165 -0.001
  • USDX: 94.188 0.279
  • Oil: 67.69 -3.01

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

1 day 13 hours ago

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%.

Physical silver demand heading higher

The silver price is depressed compared with its historical relationship to gold, one ounce being worth about 55 of silver, against the historical rate of 15 or 16. The reason, perhaps, has to do with silver’s demonetisation and its role as an industrial metal. However, with global supply from mines and recycling running at about one billion ounces and demand at only a hundred million less, it does not take much investment demand to create a severe shortage.

Silver Market Morning

Gold closed in New York at $1,618.80 and in London’s early morning rose slightly to $1,619.75. The Fixing in London today was set at $1,619.00 up $6.25. In the euro it was set at €1,289.834 up€6.7. Ahead of New York’s opening gold stood at $1,620.68 and in the euro, €1,288.30 while the euro was at €1: $1.2580.

June 13: Gold and Silver End Mixed

Gold dropped $4.12 to $1607.48 by a little after 7:30AM EST before it surged to as high as $1624.48 in the next couple of hours of trade and then fell back off in early afternoon New York trade to almost unchanged by about 2:30PM EST, but it then rallied back higher into the close and ended with a gain of 0.45%. Silver slipped to $28.74 before it shot up to $29.118, but it then fell back off midday and ended with a loss of 0.48%.

COMEX Silver Inventory Update: +283,165.40 ounces

COMEX Silver Inventory Update: +283,165.40 ounces

The Premier Safe Haven

Precious Metals are yet again asserting themselves following MULTIPLE attempts to push them down – first at the usual 12:00 PM EST with most markets flat, then late in the afternoon when the “DOW JONES PROPAGANDA AVERAGE” started plunging. TPTB are horrified that their pathetic “Spanish Bailout” ploy failed, with stock and markets plunging worldwide – notwithstanding yesterday’s blatant prop job. If gold remains positive by day’s close – and the Dow stays down – this will be the fourth such time in two weeks – SHOUTING to the world that gold is, indeed, the premier safe haven asset. With the potentially catastrophic Greek elections this weekend – and fears of an Italian contagion, be prepared for ANYTHING in the coming days.

CFTC Chairman Gary Gensler on C-SPAN

Gary Gensler talked about Commodity Futures Trading Commission oversight of commodity "futures," and he responded to telephone calls and electronic communications.

iShares Silver Trust: +27.15 tonnes

iShares Silver Trust: +27.15 tonnes

Aspen's historic Smuggler Mine up for sale for $9.5M

A landmark piece of Aspen's history, the Smuggler Mine, is up for sale for $9.5 million. The property includes access to many millions of dollars' worth of high-grade silver ore and, perhaps more enticing, two side-by-side developable lots with expansive views of town and Aspen Mountain.

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.

Silver Market Morning

Gold closed in New York at $1,611.60 and in London’s early morning fell to $1,608. The Fixing in London today was set at $1,612.75 up $23.5. In the euro it was set at €1,286.187 up12. Ahead of New York’s opening gold stood at $1,612.28 and in the euro, €1,284.79 while the euro was at €1: $1.2549.

June 12: Gold and Silver Gain About 1%

Gold fell $13.81 to $1586.39 by a little before 6AM EST, but it then shot back higher in morning New York trade and ended near its midday high of $1617.38 with a gain of 0.71%. Silver surged to as high as $29.042 and ended with a gain of 1.29%.

COMEX Silver Inventory Update: -100,765.21 ounces

COMEX Silver Inventory Update: -100,765.21 ounces

iShares Silver Trust: 9,669.08 tonnes

iShares Silver Trust: 9,669.08 tonnes

Silver Market Morning

Gold closed in New York at $1,600.20 and in London’s early morning fell to $1,591. The Fixing in London today was set at $1,589.25. In the euro it was set at €1,271.40. Ahead of New York’s opening gold stood at $1,590.40 and in the euro, €1,271.15 while the euro was at €1: $1.2511.

June 11: Gold Erases Midday Losses and Ends Higher

Gold climbed $8.44 to $1603.04 in Asia before it fell back to as low as $1581.60 by about 10AM EST in New York, but it then climbed back higher for most of the rest of trade and ended with a gain of 0.35%. Silver rose to $28.956 in Asia before it dropped back to $28.299, but it also rallied back higher in late trade and ended unchanged on the day.

COMEX Silver Inventory Update: -27,627.307 ounces

COMEX Silver Inventory Update: -27,627.307 ounces

Perception and Propaganda

Today, we are experiencing a MAJOR inflection point in TPTB’s attempts to influence PERCEPTION with MONEY PRINTING and PROPAGANDA. This weekend’s impromptu “Spanish Bailout” was botched as badly as Facebook’s IPO, by the supposedly “top financial officials” of Europe. The “bailout” is nothing of the sort – simply €100 billion of PRINTED MONEY LOANS to insolvent Spanish banks, making them even more indebted as the Spanish economy collapses. Better yet, the money is supposed to come from the ESM – or European Stability Mechanism – which hasn’t yet been ratified by Germany!

iShares Silver Trust: 9,669.08 tonnes

Silver Trust (SLV) Total Tonnes in Trust: 9,669.08: No change from yesterday’s data.

Silver Could Preserve More Value Than Gold

The fundamentals for silver and gold are very strong, and with all the massive bailouts, which are increasing debt levels, they are just getting stronger. Until a significant portion of these debts is repaid or defaulted on, it would be foolish to talk about a top in precious metals.

June 8: Gold and Silver End Mixed on the Week

Gold continued yesterday’s dive and fell another $34.70 to as low as $1556.90 in early Asian trade, but it then climbed its way back higher for most of the rest of the day and ended with a gain of 0.19%. Silver slipped to as low as $27.948 by a little after 4AM EST before it also rallied back higher in London and New York and ended unchanged on the day.

COMEX Silver Inventory Update: 143,486,176.317 ounces

COMEX Silver Inventory Update: 143,486,176.317 ounces

Fighting Headwinds

This morning, PMs have been fighting the (coerced) headwinds created by the “debate” of whether an official, overt “QE3” program will be launched by the Fed, and WHEN. Why anyone would believe Bernanke would introduce – or even hint at – such a plan at Congressional hearings is beyond me, as such an occurrence has NEVER occurred in U.S. history.

iShares Silver Trust: -0.17 tonnes

iShares Silver Trust: -0.17 tonnes

Silver Market Morning

Gold closed in New York at $1,591.60 and in London’s early morning fell to $1,558 before climbing back to $1,575 60. The Fixing in London today was set at $1,576.00 down $30 on yesterday’s p.m. Fix. In the euro it was set at €1,264.340 down €13 on yesterday’s p.m. Fix. Ahead of New York’s opening gold stood at $1,580.40 and in the euro, €1,266.14 while the euro was at €1: $1.2482.

June 7: Gold and Silver Fall After Bernanke

Gold fell $6.53 to $1613.07 at about 6:45AM EST before it rebounded to $1629.12 at about 8AM EST, but it then dropped to a new session low of $1579.00 following Bernanke’s testimony and ended with a loss of 1.73%. Silver rose to $29.699 in London, but it then slumped back to $28.40 in late morning New York trade and ended with a loss of 2.69%.

Silver Market Morning: April-13-2016 -- China and the Fix

China & the Fix – Taken in isolation next week’s start of the Yuan Fix in Shanghai may well not have an immediate impact on the global gold price. Time will be needed for the system to settle in. But taken with the other moves made by China to influence the global gold price and we may well be on the brink of a very different gold market from now on. Our newsletters give you our precise views, so now is the time to subscribe.

April 13: Gold Falls Over 1% While Silver Rises With Stocks and the Dollar

Gold dropped down to $1239.94 in London before it bounced back above $1250 in early New York trade, but it then drifted back lower into the close and ended with a loss of 1.05%. Silver slipped to as low as $15.995 in London, but it then climbed up to as high as $16.306 in New York and ended with a gain of 0.37%.

Silver Market Morning: April-15-2016 -- Currency World remains in Turmoil

Silver – The silver price is chomping at the bit waiting to run and rising at the first sign of small recovery in the gold price.

Silver Prices Up 5.6%; Gold Down 1% This Week. Deutsche Bank Settles Gold and Silver Manipulation Suits

Silver remains strong despite gold’s weakness this week and continues to eke out gains. Since Monday April 4, silver has surged from $14.93 to $16.32 per ounce for an 9.3% gain. The close above $16.00 per ounce was important and will embolden the technicians and momentum players who are likely positioning in expectations of silver testing resistance at higher levels. Silver is now testing technical resistance at $16.30/oz and a close above that level could see silver quickly move to test the next level of resistance at $18 per ounce seen in May 2015.

Gold & Silver Trading Alert: Silver’s Bearish Rally

Silver moved sharply higher recently along with mining stocks, but unlike the latter, the white metal continued to show strength even on Thursday by holding up well despite gold’s and mining stocks’ decline. What does this tell us?

Market Report: Silver stars

Silver’s strength in recent days is an illustration of how the mixture of regulated futures, forwards, and over-the-counter instruments creates analytical difficulties. The only reliable trading figures we have are from the CFTC’s Commitment of Traders Reports, issued after a delay of three days. Those indicate silver is very overbought, with hedge funds holding near-record net longs. Yet silver’s outperformance has the clear characteristics of a bear squeeze. What is hidden from us are the off-market deals in physical, OTC and forwards, which on the basis of silver’s performance this week, indicates an overall shortage exists despite being overbought on Comex.

April 15: Gold Falls Slightly but Silver Gains Nearly 6% on the Week

Gold saw decent gains in Asia and London before it fell back towards unchanged by midmorning in New York, but it then rose to a new session high of $1234.84 in early afternoon trade and ended with a gain of 0.67%. Silver rose to as high as $16.354 and ended with a gain of 0.62%.

The Gold-Silver Opposites Report: 17 Apr, 2016

Well that was interesting. Gold went down over thirty bucks and silver went up over thirty cents. How much longer can this silver rally continue in the face of gold’s nonparticipation? Will speculators really be comfortable bidding silver up to $20 while gold sits at $1200? Do the fundamentals support a higher silver price?

Silver Market Morning: April-19-2016 -- Yuan Gold Fix arrives!

Yuan Gold Fix The Shanghai Gold Exchange set the price at 256.92 Yuan a gram ($1,234.05 an ounce) at the 10:30 a.m. session after members of the exchange submitted buy and sell orders for metal of 99.99% purity. You will find a $2 or $3 variation dependent on what exchange rate you use and if you use the bid or ask sides of the exchange rate. To get the price in dollars, one will have to take the SGE gold price and divide it by 32.1507465 x 1,000 to get a price per ounce in Yuan. Then divide this price by the $: Yuan exchange rate at the time of the Fix. E.g. 256.92 / 32.1507465 x 1,000 /6.4746 = $1,234.22. We discuss these in our newsletters – subscribe now! Members include Chinese banks, jewelers, miners and the local units of Standard Chartered Plc and Australia & New Zealand Banking Group Ltd. It is convincing that the first Shanghai Gold Fix was in line with the London prices. We do expect divergences in time, but for now both are on the same page. We have no doubt that when these divergences appear, they will be because China decides they will.

Silver Market Morning: April-19-2016 -- Gold rising, silver soaring!

Silver – The silver price is amazing all as it continues to soar. Since yesterday it has risen 3.71%. It does appear to have a very long way to go up still, running ahead of the gold price. While the two metals are usually treated as monetary metals [alternatives to currencies] silver’s historic price performance is far more vigorous than gold and far more volatile. It is a narrower market than gold, which has many facets in its monetary role. Nevertheless, right now retail investors as well as institutional investors note its historic performance [peak $50 an ounce] and Technical background which points to a sterling performance.

Silver Market Morning: April-25-2016 -- Silver holding higher levels

The gold price is being pulled back not only by a weaker euro but by the upcoming FOMC meeting and that of the Bank of Japan. We do not expect any rate change from the FOMC but continued talk of how vulnerable the U.S. economy is to the global economy and a strong dollar. We expect that for the remainder of the year the Fed will be keenly watching U.S. data and will react to any strengthening of the Dollar negatively.

SilverCrest Announces Additional High Grade Underground Results At Las Chispas; Commencement of Surface Drilling Program

N. Eric Fier, CPG, P.Eng, President & CEO stated, “We continue to systematically complete our planned underground rehabilitation program at Las Chispas to evaluate areas of known high grade silver-gold mineralization. To date, we have accessed two kilometres of the estimated six kilometres of underground workings. Our first detailed underground channel sampling, as reported below, indicates continuous high grade areas that are easily accessible for potential future mining. In late March, we also commenced a surface drilling program to test extensions of known mineralized veins for potential new discoveries. For the next three months, we will be focusing on continually accessing historical underground workings to assess further high grade continuous mineralization.”

Silver Market Morning: April-29-2016 -- Silver price, looking good to go!

The drop in U.S. GDP to 0.5% annual rate, in the first quarter, in the U.S., helped the dollar to continue falling and brought into question just how sustainable labor growth numbers are. This was a serious slowdown and should be noted as such. Business slashed investment by the steepest amount since the Great Recession. While the media hopes that these numbers can be adjusted to look better and that the rest of the year will see a better performance, hope is not reality.

Market Report: Dollar down, gold up

The dollar’s weakness coincides with a growing realisation that the Fed is trapped when it comes to raising interest rates. Following a two-day FOMC meeting, there was no change in the Fed Funds Rate, with the usual jaw-jaw about conditions not deteriorating, so we can expect a rise in rates perhaps mid-year.

April 29: Gold and Silver Gain About 5% on the Week

Gold gained $28.66 to $1296.56 by late morning in New York before it edged back lower at times, but it still ended with a gain of 1.97%. Silver rose to as high as $17.951 and ended with a gain of 1.31%.

Fortuna to Release First Quarter Financial Results on May 9, 2016

Fortuna Silver Mines Inc. (FSM)(FVI.TO) announces that it will release its financial statements and MD&A for the first quarter after the market closes on Monday, May 9, 2016.

May 3: Gold and Silver End Slightly Lower As Dollar Bounces on Fedspeak

Gold gained $11.66 to $1301.66 at about 4AM EST before it dropped back down to $1283.54 by late morning in New York, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.22%. Silver slipped to as low as $17.343 and ended with a loss of 0.46%.

May 6: Gold and Silver End Slightly Lower on the Week

Gold jumped up to $1293.76 after the release of this morning’s jobs data before it pared its gains into midmorning, but it then rose to a new session high of $1295.42 in early afternoon trade and ended with a gain of 0.85%. Silver rose to as high as $17.578 and ended with a gain of 0.63%.

May 9: Gold and Silver Fall Almost 2% and 3%

Gold fell $26 to $1262.20 by early afternoon in New York before it bounced back higher at times, but it still ended with a loss of 1.95%. Silver slipped to as low as $16.93 and ended with a loss of 2.75%.

Fortuna Reports Consolidated Financial Results for the First Quarter 2016

"We have made a strong start to the year operating well within our production and cost targets and look forward to the commissioning of our key expansion project at the San Jose Mine in July." Mr. Ganoza continued, "At San Jose's new production rate of 3,000 tpd, the company will target total annual consolidated production of approximately nine million ounces of silver and fifty-two thousand ounces of gold, with an AISCC below $9.0 per ounce of silver."

Fresnillo eyes boost to silver output in 2016

"Mexican precious metals producer Fresnillo PLC (FRES.LN) said Tuesday that it expects double digit percentage growth in silver production this year after securing board approval for two expansion projects. Fresnillo, the world's largest primary silver producer and Mexico's second-largest gold producer, didn't say how much silver it planned to produce this year but the miner previously forecast it would produce up to 51,000 ounces of attributable silver this year, including 4 million ounces from the Silverstream supply contract, up 9% from 46,977 silver ounces produced last year."

May 10: Gold and Silver Reverse Morning Losses to End Higher

Gold edged up to $1267.88 in Asia before it dropped back to $1256.98 by midmorning in New York, but it then rallied back higher into the close and ended near its late session high of $1269.45 with a gain of 0.26%. Silver rose to as high as $17.119 in Asia before it also fell back off, but it then climbed to a new session high of $17.151 and ended with a gain of 0.77%.

Silver Market Morning: May-11-2016 -- Gold and Silver deciding direction today!

Gold closed in New York at $1,277.70 up from Tuesday’s $1,266.40. On Thursday morning in Asia it fell to $1,272.65, as the Yuan continued to weaken against a dollar that held at yesterday’s levels, before the LBMA price setting in London. The Gold Fixing in Shanghai’s morning was just under $8 lower than New York’s close. London’s opening was higher than Shanghai’s afternoon Fix initially telling us that physical demand in China caused the price to stay at levels of the day before. We need a few days of price disparity to see who’s leading whom.

Silver Market Morning: May-16-2016

Price Drivers The drivers of the gold and silver markets are primarily exchange rates, which are currently moving against a backdrop of waning global growth. Since 2008 the prime engines trying to bring about a recovery have been central banks using monetary policies. These have produced limited results that, to us, are in the process of losing effectiveness. Their efforts are to be commended particularly considering they were not designed to do the job, just support government when they did the job. But the track record of governments, whether it is the U.S., E.U. or Japan is very poor. Consequently, after 8 years since the credit crunch, recoveries are weak, debt levels higher than in 2008 and prospects for the global economy are uncertain. All of this synthesizes in the monetary system which is in the process of changing to a multi currency system from dollar hegemony. The ruptures these will cause are close now but have yet to be felt fully. These are the reasons why the prospects for gold and silver are brightening by the day and why institutional investors of note are lauding gold’s qualities. The uptrend in gold and silver has started, but has yet to move into second gear. We are close to that happening now.

May 17 Gold and Silver Gain While Stocks Drop 1%

Gold saw decent gains in Asia before it fell back to $1271.13 in London, but it then climbed to as high as $1282.02 in New York and ended with a gain of 0.36%. Silver rose to as high as $17.334 and ended with a gain of 0.53%.

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.