• Gold: 1,253.40 2.25
  • Silver: 18.32 0.08
  • Euro: 1.059 -0.000
  • USDX: 101.15 0.06
  • Oil: 54.16 0.13

February 27: Gold and Silver Reverse Lower on Fedspeak

6 hours 47 min ago

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%.

January 20: Gold and Silver Gain Almost 1% and 2% on the Week

Gold gained $4.26 to $1209.06 in Asia before it fell back to $1198.66 in London, but it then jumped up to $1214.79 in afternoon New York trade and ended with a gain of 0.23%. Silver rose to as high as $17.148 and ended with a gain of 0.41%.

Market Report: Bear squeeze continues

This week saw some consolidation of the rise in gold and silver prices since the start of the year. This is hardly surprising, because in four weeks, gold has risen from an intraday low of $1122.9 through $1200 with very little consolidation. Therefore, to tick back from $1219 to find support at the $1200 is only to be expected.

Silver Market Morning: Jan 20 2017 - Gold and Silver consolidating around $1,200!

Some may feel that because London is the main physical market in the developed world it supplies China exclusively. Yes, the world’s main bullion banks are based in London, but they operate in both centers. Their hold over supply is far less than most believe. For instance the Rand Refinery in Johannesburg South Africa will sell to any buyer including the Chinese directly. It does not have exclusive agreements with the world’s main banks, as it had in 1974 with the three main Swiss Banks [the ‘pool’].

January 19: Gold Pares Early Losses To End Only Slightly Lower

Gold fell $7.89 to $1197.71 in Asia before it bounced back to $1205.85 in early New York trade and then fell to a new session low of $1195.98 at about 10AM EST, but it then rallied back higher into the close and ended with a loss of just 0.07%. Silver slipped to as low as $16.736 before it also bounced back higher, but it still ended with a loss of 0.47%.

Silver Market Morning: Jan 19 2017 - Gold and Silver consolidating over $1,200!

Shanghai continues to trade over 271 Yuan holding its ground. The reason for the fall in dollar prices was a strengthening of the U.S. dollar. In the last month the Yuan gold price has gone from 259 to 272 with the gold price in Yuan. We stated yesterday that, “if pricing power does reside in Shanghai as it has done in the last fortnight the Yuan price of gold will either hold or rise in the Yuan.” It has held these levels.

January 18: Gold and Silver Fall Back Towards $1200 and $17

Gold dipped $5.42 to $1210.18 in Asia before it bounced back to $1216.43 in late morning New York trade, but it then fell back off in afternoon trade and ended with a loss of 0.82%. Silver rose to as high as $17.33 before it also fell back off, but it ended with a loss of just 0.52%.

SilverCrest Reports More High Grade Underground Sampling Results at Las Chispas; Update on Phase II Drill Program

SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to provide an update on the underground rehabilitation and drill programs at its Las Chispas Property (“Las Chispas”) located in Sonora, Mexico, and report on additional high grade underground sampling results on the 550 level of the Las Chispas Vein.

Silver Market Morning: Jan 18 2017 - Gold and Silver moving higher with a lower $!

Shanghai gold held the same levels as yesterday, today, of around 272 Yuan. Because of the PBoC’s selling dollars to strengthen the Yuan it does seem that the gold price in the dollar jumped over $13 on yesterday in Shanghai. If one takes today’s Yuan exchange rate and uses that to translate 272 Yuan into a dollar price you arrive at $1,236. In the last week the Yuan exchange rate has gone from 6.94 to 6.84 with the gold price in Yuan rising 8 Yuan at the same time.

January 17: Gold and Silver Gain Over 1% and 2%

Gold traded mostly modestly higher in holiday thinned trade yesterday and rose to as high as $1218.68 in London today before it chopped back lower at times in New York, but it still ended with a gain of 1.44% from Friday’s close. Silver rose to as high as $17.20 and ended with a gain of 2.2%.

Silver Market Morning: Jan 17 2017 - Gold and Silver moving higher with a lower $!

Chinese investors know the Yuan will continue to fall and are protecting themselves against this. While the People’s Bank of China has been selling dollars to lift the Yuan over the last week, we doubt they will keep doing this after President Trump as of the 20th January takes office. China is preparing for a confrontation with him. We therefore see the Yuan continuing to weaken in 2017 and Chinese demand to remain robust, despite Xi’s plea not to go to a trade war and keep markets free at Davos.

Keith Neumeyer: Damage Inflicted by Precious Metals Manipulation Is in the “Multi Billions”

It is my privilege now to bring in Keith Neumeyer, founder and CEO of First Majestic Silver Corp, one of the top silver mining companies in the world. Keith has an extensive background in the resource and finance sectors and has also been an outspoken voice about the manipulation that has been occurring in the futures market pricing of silver.

Silver Market Morning: Jan 16 2017 - Gold and Silver correcting, U.S. buying!

Shanghai gold prices, having corrected on Friday, are, again, moving higher in Shanghai touching 270.1 Yuan or $1,211.1 in today’s trading [using the same quality of gold]. It is always tempting to make prices simple to understand even if it means attributing any moves in the gold price to any handy piece of news locally. But that would be misleading. Chinese prices are rising because of Chinese market conditions, not because of Trump’s latest tweet.

January 13: Gold and Silver Gain About 2% on the Week

Gold edged down to $1192.24 in Asia before it bounced back to $1200.63 in London and then fell to a new session low of $1188.00 in midmorning New York trade, but it then rallied back higher into the close and ended with a gain of 0.24%. Silver rose to as high as $16.838 and ended with a gain of 0.12%.

Cambridge House International and Katusa Research: Vancouver Resource Investment Conference 2017

Highlights at the conference will be a fire-side chat with mining billionaire, Frank Giustra, Morning Star's #1 rated gold fund manager, Frank Holmes, several live-on stage "CEO grillings" hosted by Katusa Research founder and CEO, Marin Katusa, and a Roast of legendary investor, author and mining newsletter writer, Doug Casey.

Silver Prices for the Year 2017

How low and how high will the price of silver range on the PAPER markets during 2017? Knowing the influence central bankers, politicians, HFT algos, bullion banks and JPMorgan exercise over increasingly managed markets … it is impossible to answer the question, and it is probably the wrong question to ask.

Market Report: Rally gathers pace

Gold and silver continued their rise this week in very light physical trade, though trade in futures was active. From last Friday’s close, gold rose $20 to $1193, and silver by 30c to $16.76 in early European trade this morning. Behind the rise in gold was a fall in the dollar, which had been very strong in the second half of 2016. In early European trade this morning prices have opened steady, below the intraday highs of yesterday, as dealers try to decide if there will be some profit-taking after a strong week.

Silver Market Morning: Jan 13 2017 - Gold and Silver Correcting!

Shanghai gold prices corrected this morning in Shanghai. While we cannot get access today’s Shanghai’s Fixings, gold was trading down, between $1,191 and $1,196 or back to 263.73 Yuan and 264.83 Yuan. After the gold price rises in Shanghai during this week, a correction was needed to make the market healthy.

January 12: Gold and Silver Gain While Stocks and Dollar Fall

Gold gained $16.02 to $1206.92 in Asia before it drifted back lower in London and New York, but it still ended with a gain of 0.38%. Silver rose to as high as $16.982 and ended with a gain of 0.3%.

Silver Market Morning: Jan 12 2017 - The dollar is lower against gold and gold higher against all currencies!

Shanghai continues to lead the way for the gold price. And as happened yesterday London and New York rose too. With Shanghai prices continuing to rise we expect London and New York to rise again too. To catch Shanghai up, prices in New York need to rise another $15. London is now in line with yesterday’s Shanghai gold price.

January 11: Gold Gains Again While Silver Slips

Gold edged up to $1191.26 in Asia before it fell back to $1177.25 in midmorning New York trade, but it then jumped to as high as $1198.13 in early afternoon trade and ended with a gain of 0.31%. Silver slipped to $16.534 before it rallied back to $16.86 and then fell back off into the close, but it ended with a loss of just 0.36%.

Silver Market Morning: Jan 11 2017 - Shanghai taking gold higher!

If Shanghai is leading the way for the gold price, we would expect London and New York to rise too. Consequently, the gold price needs to move to $1,200 for it to be in line with Shanghai now. Shanghai on Tuesday was $13 higher than the close of New York. This morning London opened only $10.59 lower than yesterday’s Shanghai closing. And this strength in gold is happening while the dollar is rising and the Yuan slipping slightly.

January 10: Gold and Silver Gain Again

Gold gained $5.05 to $1187.55 in Asia before it fell to see a slight loss at $1181.07 in London, but it then jumped to as high as $1190.45 in New York and ended with a gain of 0.4%. Silver rose as high as $16.904 and ended with a gain of 1.33%.

Silver Market Morning: Jan 10 2017 - Shanghai London and New York prices coming in line!

Again New York’s prices are moving up towards Shanghai’s, which continues to rise steadily but solidly. Shanghai on Monday was only $6.50 higher than the close of New York. This morning London opened only $3.50 lower than Shanghai. The weaker dollar is impacting the gold price, to the relief of the People’s Bank of China.

January 9,: Gold and Silver Gain Almost 1% While Dow Drops With Dollar

Gold gained $12.88 to $1185.88 in early afternoon New York trade before it drifted back lower into the close, but it still ended with a gain of 0.81%. Silver surged to as high as $16.69 and ended with a gain of 0.55%.

Silver Market Morning: Jan 9 2017 - Shanghai dominating London and New York prices!

London is the developed world’s heart of the physical gold market. New York is the paper market. ‘Paper gold prices’ cannot overrule physical prices. It seems obvious, but it isn’t as COMEX has dominated gold prices [with the support of physical sales into London] for several years.

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

First Majestic Reports Second Quarter Financial Results

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed interim consolidated financial results for the Company for the second quarter ending June 30, 2012. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

SilverCrest Announces Trading on NYSE MKT to Commence August 27, 2012

SilverCrest Mines Inc. (SVL.V)(STVZF) ("SilverCrest" or the "Company") is pleased to announce that its common shares have been authorized for listing on the NYSE MKT in New York. The shares will begin trading on the NYSE MKT on August 27, 2012 under the trading symbol "SVLC". The Company's common shares will continue to be listed on the TSX Venture Exchange under the trading symbol "SVL".

COMEX Silver Inventory Update: +555,536.41 ounces

COMEX Silver Inventory Update: +555,536.41 ounces

September 4: Gold and Silver Gain With Dollar

Gold fell a few dollars from last Friday’s close to $1688.31 by a little after 9:30AM EST before it jumped back to $1698.76 in the next half hour of trade and then drifted back lower midday, but it then rallied back higher in late trade and ended with a gain of 0.21%. Silver climbed to $32.27 in Asia before it slipped to $31.90 in London, but it then climbed to as high as $32.40 in New York and ended with a gain of 1.84%.

Fed launches big stimulus, to buy bonds until jobs rebound

The Federal Reserve launched another aggressive stimulus program on Thursday, saying it will buy $40 billion of mortgage debt per month and continue to purchase assets until the outlook for jobs improves substantially.

September 20: Gold and Silver End Mixed

Gold fell $14.70 to $1755.80 at about 6:20AM EST, but it then rose to as high as $1770.42 in New York and ended with a loss of just 0.12%. Silver slipped to as low as $34.084 in London, but it also rallied back higher in New York and ended near its midday high of $34.692 with a gain of 0.03%.

September 26: Gold and Silver End Mixed

Gold dropped $24.60 to $1736.80 by a little before 11AM EST before it bounced back higher midday, but it still ended with a loss of 0.57%. Silver slipped to as low as $33.32 by a little after 8AM EST, but it then rallied back higher throughout most of the rest of trade and ended with a gain of 0.56%.

October 4: Gold and Silver Gain With Stocks and Oil

Gold climbed $16.56 to $1795.06 just before 2PM EST before it pared its gains a bit after the fed released Minutes from their September 12th meeting, but it still ended with a gain of 0.69%. Silver rose to $35.092 in early New York trade before it fell back to $34.655 in the next 15 minutes of trade, but it then rallied back higher for most of the rest of trade and ended with a gain of 1.16%.

COMEX Silver Inventory Update: -379,504.528 ounces

COMEX Silver Inventory Update: -379,504.528 ounces

Fortuna reports record production of 1,027,741 ounces of silver and 5,348 ounces of gold for the third quarter 2012

Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F) announces production figures for the third quarter of 2012 from its two 100% owned operating underground mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru.

COMEX Silver Inventory Update: +561,944.440 ounces

COMEX Silver Inventory Update: +561,944.440 ounces

October 17: Gold and Silver Gain While Dollar Drops

Gold climbed up to $1753.30 in Asia before it fell back to $1742.79 by a little before 10AM EST, but it then rallied back higher in the next couple of hours of trade and ended with a gain of 0.6%. Silver rose to $33.14 before it fell back to $32.847, but it then rose to a new session high of $33.255 and ended with a gain of 0.61%.

Silver Stocks vs. Palladium

Before making any investment decision it’s usually good to look at the situation from different perspectives and make sure that the action that you are about to take is really justified. In fact, the same is the case with any other decision as well. In the precious metals market the analysis of gold is usually supplemented by the analysis of silver and gold stocks. At times, analysts focus on other markets that often influence metals: currencies and the general stock market.

November 9: Gold and Silver Gain Over 3% and 5% on the Week

Gold fell $5.72 to $1727.08 by a little after 8AM EST before it climbed to as high as $1738.67 in the next couple of hours of trade, but it then fell back off into the close and ended with a loss of 0.1%. Silver slipped to $32.057 before it shot up to $32.775 and then also fell back off, but it still ended with a gain of 0.46%.

Silver Market Morning

New York closed at $1,711.9 down just over $2.00 on Friday. This morning, Asia and London dealers took higher to trade at $1,723.45 ahead of London’s opening. It was Fixed at $1,723.25 up $13.25 and in the euro at €1,349.663 up €7 from yesterday while the euro was at €1: $1.2768. Ahead of New York’s opening, gold was slightly stronger at $1,724.45 and in the euro at €1,350.49.

Silver Market Morning

New York closed at $1,729.20 up $1.50 on yesterday. This morning, Asian and London dealers took the gold price higher to trade at $1,729.70 ahead of London’s opening. It was Fixed at $1,729.75 up $3.00 on yesterday morning’s Fix. In the euro it was Fixed at €1,344.226 down €6.5 from yesterday while the euro was stronger at €1: $1.2868. Ahead of New York’s opening, gold was almost the same at $1,730.25 and in the euro at €1,343.73.

Silver Market Morning

New York closed at $1,729.20 barely changed on yesterday. This morning, Asian and London dealers took the gold price higher to trade at $1,734 ahead of London’s opening. It was Fixed at $1,734.75 up $5.00 on yesterday morning’s Fix. In the euro it was Fixed at €1,345.393 up €1 from yesterday while the euro was slightly stronger at €1: $1.2894. Ahead of New York’s opening, gold was almost the same at $1,733.79 and in the euro at €1,343.73.

November 30: Gold and Silver Fall Almost 2% on the Week

Gold gained $6 to $1731.60 in Asia, but it then fell to as low as $1708.39 in New York and ended with a loss of 0.72%. Silver slumped to as low as $33.151 and ended with a loss of 2.43%.

Silver Market Morning

New York closed at $1,715.20 yesterday. This morning, Asian dealers pushed prices down, unusually, to $1,705 before London opened. It was Fixed at $1,703.00 down $3.75 on yesterday’s Fix. In the euro it was Fixed at €1,300.794 down €5.354 while the euro was stronger at €1: $1.3092 and stabilizing. Ahead of New York’s opening, gold was $1,702.5 and in the euro at €1,301.01.

December 10: Gold and Silver Gain With Stocks

Gold climbed to as high as $1717.20 by about 8:30AM EST before it drifted back lower for most of the rest of trade, but it still ended with a gain of 0.44%. Silver rose to as high as $33.415 ended with a gain of 0.39%.

December 11: Gold and Silver End Slightly Lower

Gold climbed $2.70 to $1714.30 by a little before 8AM EST before it fell back to $1704.82 in the next two and a half hours of trade, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.09%. Silver bumped up to $33.22 before it dropped back to $32.758 and then bounced back higher, but it still ended with a loss of 0.72%.

Pure Bull

PM prices hit yesterday on “supposed” fears that the clueless Fed didn’t announce enough MONEY PRINTING – though they did EXACTLY what was expected – and “deflation fears” when the Dow tanked mid-Afternoon in response to rumors of the long-awaited Moody’s downgrades, announced after the market close. Like the Fed announcement, no one can claim anything was “unexpected” about these downgrades – and, more importantly, such downgrades (in freely traded markets) are PM BULLISH.

Silver Market Morning

Gold closed in New York at $1,573 again. London moved down only slightly to $1,569, while the euro weakened slightly to €1: $1.2450, 50 cents lower. The gold Fix was set at $1,567.75 the same as yesterday and in the euro €1,261.466, €6 higher. Ahead of New York’s opening, gold stood at $1,571.30 and in the euro, €1,260.97 while the euro was at €1: $1.2461.

Silver’s split personality feeds steep price drop

Silver’s split personality as an industrial and precious metal contributed to a steep drop for the second quarter, as the metal’s economic demand prospects and safe-haven appeal duel for investors’ attention.

Silver Market Morning

Gold closed in New York at $1,576.60 up $8. Asia and London took it down $10 to $1,566 as the euro continued to fall and ahead of London’s morning Fix today was set at $1,565.50 down $11 and in the euro at €1,281.097 down €3, while the euro stood at €1: $1.2220 down another 50 cents. Ahead of New York’s opening gold stood at $1,564.10 in the middle and in the euro at €1,284.84 almost unchanged on yesterday.

COMEX Silver Inventory Update: -378,196.144 ounces

COMEX Silver Inventory Update: -378,196.144 ounces

Gold & Silver Fear Indexes

A discussion with James Turk this week renewed my interest in his Fear Index. So I decided to calculate the current figure. Given the 2.8% GFI figure listed in the equation below, clearly the gold market mania phase is only beginning, when compared to the 1980's peak.

Silver Market Morning

After a weekend of critical European elections the gold price started the week in Asia lower at $1,638 lower in the dollar [-$3] but higher in the euro at just below €1: $1.30 then recovered. In the euro the gold price stood at €1,260 up €20 just ahead of London’s opening. There is no Fixing in London today as it is a public holiday. Ahead of New York’s opening it stood at $1,641.25 and in the euro €1,258.53 while the euro was at €1: $1.3041.

Whatever It Takes

The world’s markets are alight with excitement regarding the brain-dead repetition of ECB head Mario Draghi stating he’ll do “whatever it takes” to save the Euro. In other words, what he’s said – and DONE – all along, PRINT MONEY, MANIPULATE MARKETS, and disseminate PROPAGANDA.

July 30: Gold and Silver End Mixed

Gold fell $9.32 to $1614.08 by about 8:30AM EST, but it then climbed to as high as $1624.86 in afternoon New York trade and ended with a loss of 0.08%. Silver slipped to $27.53 in Asia, but it then rose to as high as $28.23 in New York and ended with a gain of 1.55%.

GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit!

Welcome to Capital Account. JP Morgan said in a court filing that PFG's subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks.

Target 1 reached on silver (update on gold)

The initial profit taking target of the "Descending Triangle" pattern of the daily chart (right hand side below) on silver has been reached. The "Head and Shoulders" pattern on the daily chart is still in play.

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.

Bolivia says may compensate South American Silver

The Bolivian government is willing to compensate South American Silver Corp for revoking its concession on the Malku Khota project, but it will be far less than the $16 million the company says it has invested, the country's vice president said on Thursday.

Euro shorts smell blood

Within the eurozone there are great stresses. At one extreme there are punitive costs of borrowing for Greece, Cyprus, Portugal, Ireland, Spain and Italy; at the other there is zero or negative interest rates for Germany, the Netherlands and Finland. Doubtless the first group begets the second, as captive investors in euros have to buy government bonds, and this requirement is being funnelled away from risk into safety.

Weekend Update - Silver

In Silver the volume has barely been 40,000 contracts lately on the daily chart, and "Open Interest" is around 120,000 contracts. Those traders who currently have a big position in Silver have a "ruling" hand right now. Should large orders "at the market" come in to cover shorts, or liquidate long positions it is likely to cause violent price action out of nowhere.

NYMEX Daily Reports

The CME Group Daily Bulletin now contains information formerly found in the NYMEX, COMEX and DME fact sheets and open interest reports. However, only those products that have volume and open interest are displayed. Please review the Daily Bulletin Sample and Description to familiarize yourself with the new format.

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%.