• Gold: 1,265.85 9.87
  • Silver: 17.28 0.12
  • Euro: 1.122 0.001
  • USDX: 97.09 -0.158
  • Oil: 48.96 0.2

May 25: Gold and Silver End Slightly Lower

12 hours 54 min ago

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%.

Silver Market Update

February 7: Gold and Silver End Slightly Lower After Dollar Pop

Gold dropped $6.80 to $1227.90 by a little after 8AM EST before it bounced back to $1235.70 in early afternoon trade, but it then drifted back lower into the close and ended with a loss of 0.14%. Silver slipped to $17.559 before it rallied back to $17.788 and then also fell back off, but it ended with a loss of just 0.11%.

February 8: Gold and Silver Swing Back to Gains

Gold gained $11.80 to $1244.80 in midmorning New York trade before it drifted back lower in the next few hours, but it still ended with a gain of 0.61%. Silver rose to as high as $17.866 and ended with a gain of 0.34%.

February 9: Gold and Silver Fall Almost 1% While Stocks Rise on Trump Talk

Gold waffled between $1243.70 and $1236.80 in London before it edged up to $1244.20 by a little before 10AM EST, but it then dropped to as low as $1230.40 in afternoon trade and ended with a loss of 0.73%. Silver slipped to as low as $17.619 and ended with a loss of 0.56%.

February 10: Gold and Silver Gain About 1% and 3% on the Week

Gold fell $9.80 to $1221.70 in Asia before it climbed up to $1237.00 in early afternoon New York trade and then fell back off a bit, but it still ended with a gain of 0.2%. Silver slipped to as low as $17.555 before it rallied all of the way back to $17.996 and ended with a gain of 1.53%.

February 13: Gold and Silver Fall While Stocks Climb To New Highs

Gold fell $14.60 to $1219.40 in late morning New York trade before it rallied back higher into the close, but it still ended with a loss of 0.66%. Silver slipped to as low as $17.759 and ended with a loss of 0.67%.

February 15: Gold and Silver Erase Early Losses and End Higher

Gold fell $10 to $1217.40 by a little after 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.42%. Silver slipped to as low as $17.76 before it jumped back to $17.982 and then chopped back lower at times, but it still ended with a gain of 0.17%.

February 16: Gold and Silver Gain As Dollar Drops

Gold gained $9.50 to $1242.10 in late morning New York trade before it drifted back lower in afternoon trade, but it still ended with a gain of 0.54%. Silver rose to as high as $18.126 and ended with a gain of 0.61%.

Silver Market Morning: Feb 17 2017 - Gold is looking firm in all currencies!

Shanghai was trading at 275.90 Yuan towards the close today. This equates to $1,249.96, but allowing for the different quality of gold being traded [.9999 fineness] it stands at $1,244.96. Shanghai continues to lead the way over New York by $5 and $3 over London. With Capital Controls over Yuan outflows reducing turnover volumes in its currency we are watching the classic central bank battles against moves in a currency. We have yet to see a central bank win the battle over controlling an exchange rate.

February 17: Gold and Silver End Slightly Higher on the Week

Gold edged down to $1236.60 in Asia before it bounced back to $1243.70 in London, but it then drifted back lower in New York and ended with a loss of 0.3%. Silver slipped to as low as $17.977 and ended with a loss of 0.44%.

Silver Market Morning: Feb-20-2017

The August Alan Greenspan has said, “The European Central Bank (ECB) has greater problems than the Federal Reserve. The asset side of the ECB’s balance sheet is larger than ever before, having grown steadily since Mario Draghi said he would do whatever it took to preserve the euro. I have grave concerns about the future of the Euro itself. Northern Europe has, in effect, been funding the deficits of the South; that cannot continue indefinitely. The Eurozone is not working.” Greenspan said Brexit is almost certainly set to trigger a collapse of the ECB despite the UK not having signed up to take on the currency.

Silver Market Morning: Feb 22 2017 - Gold is consolidating higher!

At the close in Shanghai today, the gold price was trading at 275.8 Yuan, which directly translates into $1,246.53. But allowing for the difference of gold being traded this equates to a price of $1,241.53. This is $5 higher than New York and $1 higher than London. We watch to see if London and New York continue to follow Shanghai or not.

February 22: Gold and Silver Bounce Back After Fed Minutes

Gold gained $4 to $1240.30 by a little before 9AM EST before it dropped back to $1231.60 in the next few hours of trade, but it then jumped back higher after the release of this afternoon’s fed minutes and ended with a gain of 0.15%. Silver rose to as high as $18.052 and ended with a gain of 0.33%.

February 23: Gold and Silver Gain Almost 1% While Dow Sets 10th Straight Record High

Gold edged down to $1235.80 in Asia, but it then jumped to as high as $1250.90 in late morning New York trade and ended with a gain of 0.86%. Silver rose to as high as $18.217 and ended with a gain of 0.78%.

Market Report: Making headway in better volume

Gold and silver broke out on the upside from a two-week consolidation yesterday, with gold breaching the $1250 level, and silver clearing $18.00. Comex volume has picked up on these break-outs, characteristic of a bullish move. In early European trade this morning, gold was trading at $1254, up $19 since last Friday’s close. Silver was at $18.26, up 27 cents on the same timescale.

February 24: Gold and Silver Gain Almost 2% on the Week

Gold gained $11.30 to $1260.10 at about 9AM EST before it nearly erased its entire advance in the next hour of trade, but it then chopped back higher into the close and ended with a gain of 0.63%. Silver rose to as high as $18.407 and ended with a gain of 0.94%.

February 27: Gold and Silver Reverse Lower on Fedspeak

Gold waffled between $1258.40 and $1253.40 in Asia and traded mostly slightly lower in London before it jumped to as high as $1263.60 in late morning New York trade, but it then fell back off into the close and ended with a loss of 0.45%. Silver surged to as high as $18.481 before it also dropped back lower in late trade and ended with a loss of 0.65%.

Silver Market Morning: Feb 28 2017 - Gold waits to be Trumped!

At the close in Shanghai today, the gold price was trading at 280.0 Yuan once again, which directly translates into $1,267.88. But allowing for the difference of gold being traded this equates to a price of $1,262.88. This is $11.88 higher than the New York close and $11.18 higher than London.

February 28: Gold and Silver Close Higher Before Trump's Speech Tonight

Gold gained $7.20 to $1258.20 in midmorning New York trade before it plummeted back to $1247.70 by a little after 1:30PM EST, but it then bounced back higher into the close and ended with a gain of 0.05%. Silver rose to as high as $18.457 before it also fell back off, but it still ended with a gain of 0.6%.

March 1: Gold and Silver End Mixed While Stocks Surge Higher

Gold fell $14.50 to $1237.10 at about 9AM EST before it climbed back to $1250.50 in early afternoon trade and then chopped back lower, but it ended with a loss of just 0.13%. Silver slipped to as low as $18.265 before it bounced back to $18.459 and then also fell back off, but it still ended with a gain of 0.33%.

SilverCrest Reports First Drill Results from Babicanora Vein; Multiple Intercepts Greater Than 1,000 gpt AgEq*

SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce its first drill hole results for the Babicanora Vein within the Las Chispas Property (the "Property") located in Sonora, Mexico. As part of the Company's Phase II Exploration Program, underground drilling at the Babicanora Vein is testing the historic silver-gold mine (see attached Photos and Figures).

March 2: Gold and Silver Fall With Stocks

Gold fell $18.70 to $1231.20 in midafternoon New York trade before it bounced back higher in the last 90 minutes of the day, but it still ended with a loss of 1.19%. Silver slipped to as low as $17.711 and ended with a loss of 3.53%.

Shareholder Update from Golden Arrow Executive Chairman, President and CEO

"The option agreement with Silver Standard Resources (SSO.TO) (SSRI) for the combination of Golden Arrow's Chinchillas Project with Silver Standard's Pirquitas Mine is still in progress (see Golden Arrow News Release dated October 1, 2015). As the 18 month option draws to a close on March 30, 2017, we await Silver Standard's decision. We are appreciative for the professional and transparent technical cooperation between Silver Standard and Golden Arrow which has allowed the advancement of our Chinchillas deposit to this advanced mine planning and prefeasibility stage. Golden Arrow is committed to the Business Combination Agreement and we look forward to fully achieving a final resolve by March 30, 2017."

March 3: Gold and Silver Fall About 2% on the Week

Gold fell $12 to $1223 in early afternoon New York trade before it jumped back to $1236.00 after Yellen raised the possibility of the fed keeping rates stable, but it then drifted back lower into the close and ended with a loss of 0.05%. Silver surged to as high as $17.972 and ended with a gain of 1%.

March 6: Gold and Silver Fall With Stocks Again

Gold fell $9.50 to $1224.90 in early afternoon New York trade before it rebounded slightly, but it still ended with a loss of 0.68%. Silver slipped to as low as $17.703 and ended with a loss of 0.89%.

Silver Market Morning: Mar 7 2017 - Gold waiting for the rate hike!

At the close in Shanghai today, the gold price was trading at 275.50 Yuan once again, which directly translates into $1,242.23. But allowing for the difference of gold being traded this equates to a price of $1,237.23. This is $11.23 higher than the New York close and $13.08 higher than London.

Silver Market Morning: April 7 2017 - Gold leaps after missile strike!

Overnight, the U.S. struck Syria with cruise missiles on President Trump’s order. The global political situation has degenerated, at least for now, causing gold to jump through the 200-day average. Will this hold? At first glance, we would think not, as it is not a cause for war between Russia and the U.S. simply a punitive strike, in response to the use of chemical weapons in what is more than a civil war in Syria. It is, to us, a long term middle east wide religious war between Shia [Assad/Iran, etc] and Sunni [rebels/Saudis, etc] sides of Islam set to continue for the foreseeable future.

The decline and fall of the EU

Without the UK, not only does the EU lose much of its importance on the world stage, but the Commission’s budget is left with an enormous hole. That is the decline. The fall is well under way, with capital flight significantly worse than generally realised, as a proper understanding of TARGET2 imbalances shows. Not only is the ECB running out of options, but without major support from Germany, France and Italy, Brussels itself faces a financial crisis. In a highly unusual move, Jamie Dimon of JP Morgan in a letter to his shareholders this week backtracked on his earlier pre-Brexit threat to move jobs from London, declaring that the problem is Europe itself.

April 7: Gold and Silver End Near Unchanged on the Week

Gold gained $18.60 to $1270.30 in early New York and before it fell all of the way back to $1251.40 by midafternoon, but then bounced back higher into the close and ended with a gain of 0.23%. Silver rose to as high as $18.459 before it dropped back to $17.872 and then also rallied back higher in late trade, but it still ended with a loss of 1.32%.

April 10: Gold and Silver Reverse Early Losses To End Near Unchanged

Gold saw a slight gain at $1255.80 in Asia before it fell to see a $7.20 loss at $1247.40 at the open of trade in New York and then rallied back to $1256.30 by midday, but it then chopped back lower in early afternoon trade and ended with a loss of 0.02%. Silver edged up to $18.015 before it dropped back to $17.748 and then also climbed back higher, but it still ended with a loss of 0.28%.

Golden Arrow Chairman’s Message to Shareholders on Recent Positive Developments

The announcement on the 31st of March of the formation of the Joint Venture with Silver Standard Resources Inc. (TSX-SSO; NASDAQ-SSRI; “Silver Standard”) was the culmination of a process of working together that began with the announcement of the initial exploratory work back in October 2015. Essentially the latest announcement signals the creation of a new entity which will pool together the currently operating mine and processing plant at Pirquitas, owned by Silver Standard, with the Chinchillas project of Golden Arrow.

Silver Market Morning: April 11 2017 - Gold firm below resistance $!

The Syria strike by the U.S. has not heightened tensions between Russia and the U.S. as much as the markets first discounted. It appears that Russia is satisfied with chest beating without action, simply a warning that the U.S. will be met by force next time. If there is another gas attack soon the situation could deteriorate substantially. Meanwhile, the markets, as we thought they would have retreated to where they were before the missile strike.

April 11: Gold and Silver Gain Nearly 2% While Stocks and Dollar Drop

Gold saw only slight gains in Asia and London, but it then rallied higher throughout most of trade in New York and ended near its midafternoon high of $1275.10 with a gain of 1.46%. Silver rose to as high as $18.318 and ended with a gain of 1.9%.

Silver Market Morning: April 12 2017 - Gold breaks up to new higher resistance!

We were wrong about more consolidation yesterday. Consolidation is a very difficult process to gauge accurately in terms of timing. It is a process of demand matching supply to the point where a small sale or purchase can make the next move a strong one. We did not realize that this point was reached yesterday, suddenly. After all it has been several weeks since the gold price has been building up sufficient strength to effectively tackle overhead resistance at $1,260, the 200-day average. Yesterday saw it do so, when an ascending top breakout was confirmed technically.

April 12: Gold and Silver Gain Almost 1% While Dollar Drops on Trump Talk

Gold saw slight gains in Asia and London and jumped up to $1277.90 by a little before 8:30AM EST before it dropped back to $1272.40 in the next hour of trade, but it then shot back higher into the close and ended near its late session high of $1283.60 with a gain of 0.7%. Silver rose to as high as $18.439 and ended with a gain of 0.82%.

Silver Market Morning: April 13 2017 - Gold breaks up to new higher resistance just below $1,300!

If the gold price can climb above $1,290 all vestiges of overhead resistance will have evaporated. Yes, the $1,300 level to $1,320 area may well cause a pause in the climb of the gold price for a short while, but essentially the mood for gold and silver will have changed to the upside, it seems. There was no physical buying into the U.S. based gold ETFs yesterday. Despite this the gold price jumped through overhead resistance to current levels.

April 13: Gold and Silver Gain Almost 3% on the Week

Gold gained $7 to $1288.50 in London before it dropped back to $1281.90 at about 10AM EST, but it then rallied back higher into the close and ended with a gain of 0.47%. Silver climbed to $18.602 before it dropped back to $18.417, but it then bounced back higher in late trade and ended with a gain of 0.49%.

Market Report: Fear taking over

Last week’s market report concluded that with the Syrian situation deteriorating the outlook for the price of gold had rarely been better. Gold and silver have certainly risen, as our introductory chart indicates. Gold in European morning trade was up $34 from last Friday’s close at $1287, and silver up from $18.00 at $18.57. This is a short week given tomorrow’s Good Friday holiday, and with geopolitics taking centre-stage, traders are likely on balance to close short positions today, retaining their longs.

Econ 101 -- Silver Market Manipulation

It should also be noted that this increase of 38,392 contracts represents the creation of 191,960,000 ounces of virtual/digital silver. Again, The Shills and Apologists will claim that "this is simply producer hedging" or that all is fine because "there's a levered long for every levered short". But how is any of this relatable to the physical price of silver when derivatives representing 20% of total annual mine supply can simply be conjured up from thin air and supplied to money managers and traders as "exposure". Trading in these derivative contracts are no more related to physical silver than is trading of sunflower seeds or baseball cards.

April 17: Gold and Silver Reverse Early Gains To End Slightly Lower

Gold jumped $7.90 to $1295.40 at the open of trade in Asia before it pared back to $1285.80 in London and then bounced back to $1292.70 in late morning New York trade, but it then fell back off into the close and ended with a loss of 0.29%. Silver rose to as high as $18.652 and ended with a loss of 0.59%.

Silver Market Morning: April 18 2017 - Gold building strength below $1,300!

The Shanghai Gold Exchange was trading at 286.00 towards the close today. This translates into $1,286.84. New York closed $3.04 below Shanghai’s closing. London opened at a $0.00 discount to Shanghai. This left all three markets almost in line with each other, which is further testament to the ability of arbitrageurs to smooth out market differences. This is the first time we have seen a zero discount to London prices. It tells us that the gold price is going higher soon!

April 18: Gold Rebounds From Midsession Drop To End Higher

Gold edged up to $1287.30 in London before it spiked down to $1279.40 at about 10AM EST, but it then rose to a new session high of $1292.30 in early afternoon trade and ended with a gain of 0.49%. Silver slipped to as low as $18.091 before it also bounced back higher, but it still ended with a loss of 0.49%.

Silver Likely To Rise In A Concentrated Manner

Furthermore, it appears to be the first time that these ideal economic conditions, for a rise in silver, align in such a timely manner; in particular, the bottom in interest rates, the peak in stock markets, as well as the coming collapse of the monetary system. Potentially all of these events can happen within a two to three-year period.

Silver Market Morning: April 19 2017 - Gold building strength below $1,300 still!

Shanghai led the way lower today taking London back to the mid-$1,280 area again. To us this was important as it confirms the price dominance of Shanghai over London. If New York gold prices rise today without any specific news to cause that, then it will be an attempt to reclaim price dominance. If not then Shanghai will show its overall, dominant, pricing power.

April 19: Gold and Silver Fall Almost 1%

Gold dropped $14.60 to $1275.50 in midmorning New York trade before it edged back higher at times, but it still ended with a loss of 0.84%. Silver slipped to as low as $18.099 and ended with a loss of 0.98%.

Silver Market Morning: April 20 2017 - Gold still building strength below $1,300!

Shanghai continues to lead the way in the gold markets, barely changing its prices over the last two days, despite very heavy buying in New York into the U.S. based gold ETFs and the dollar weakening. We feel it is important to factor the current dominance of Shanghai’s pricing of gold over that of London and New York. In line with this, we expect Shanghai to exert an upward pull on New York and London’s prices for the rest of this week.

April 20: Gold and Silver End Mixed While Stocks Rise On Tax Cut Talk

Gold chopped up to $1283.20 in late morning New York trade before it dropped back to $1276.70 in early afternoon action, but it then bounced back higher into the close and ended with a gain of 0.16%. Silver slipped to as low as $17.879 before it also rallied back higher, but it still ended with a loss of 0.72%.

Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefits

– Silver, platinum and palladium see increased role as investment vehicles – Increase in academic output on the white precious metals is in line with this – Silver and particularly gold are safe haven assets – Silver was a safe haven at times during which gold failed to be – Platinum and palladium less so but have diversification benefits

Silver Market Morning: April 21 2017 - Gold consolidating below $1,300!

All three global gold markets are in line with each other. At this moment in time, we don’t see that the three are leading or following each other, but the closeness of prices tells us that arbitrageurs are doing a very professional job of smoothing out the gold markets across the world. New York closed $1.44 below Shanghai’s closing yesterday and today. London opened at a $1.46 discount to Shanghai in line with New York. This is the closest we have ever seen them.

Market Report: Explosive moves in the wings?

Gold and silver peaked on Monday, when much of Europe (including London) was closed for the Easter Monday holiday. Prices then eased to a low point mid-week before moving sideways. Gold peaked at $1295.5 before trading as low as $1274, and this morning in early European trade it was at $1280. Silver peaked at $18.66 before ending up at $18.00. This makes gold up 11.06% on the year so far, and silver up 13.87%. Silver is lagging gold badly, and based on its normal relative volatility should be closer to $19.00.

April 21: Gold and Silver See Modest Losses on the Week

Gold gained $6.10 to $1287.30 in early afternoon New York trade before it chopped back lower into the close, but it still ended with a gain of 0.29%. Silver slipped to as low as $17.814 and ended with a loss of 0.28%.