• Gold: 1,346.43 0.63
  • Silver: 16.67 0.01
  • Euro: 1.240 -0.000
  • USDX: 89.1 0.056
  • Oil: 62.39 0.82

February 16: Gold and Silver Gain Over 2% on the Week

3 days 1 hour ago

Gold gained $8.30 to $1361.70 in Asia, but it then fell to as low as $1345.00 in New York and ended with a loss of 0.35%. Silver slipped to as low as $16.618 and ended with a loss of 1.18%.

Silver Eagles Soar

Silver Standard Exercises Option to Form Joint Venture With Golden Arrow for the Chinchillas-Pirquitas Project

"This is a landmark achievement for our Company," stated Joseph Grosso, Executive Chairman, President and CEO of Golden Arrow. "As Golden Arrow transitions an exploration discovery into a mining operation, our shareholders stand to benefit from this profile and strengthened financial position."

Golden Arrow Announces Positive Pre-Feasibility Study for the Chinchillas Project Joint Venture With Silver Standard

Golden Arrow Resources Corporation (TSX VENTURE:GRG) (GAC.F) (GARWF) (WKN:A0B6XQ) ("Golden Arrow" or the "Company") is pleased to announce the results of a pre-feasibility study of the Chinchillas project ("Chinchillas" or the "project") located in the Jujuy Province, Argentina for the joint-venture development of the project with Silver Standard Resources Inc. (SSRI) (SSO.TO) ("Silver Standard") pursuant to the Business Combination Agreement between the parties dated September 30, 2015, as outlined in the Company's news release dated March 31, 2017.

March 31: Gold Holds Near Unchanged While Silver Rises Almost 3% on the Week

Gold fell $4.20 to $1240.30 at about 8:45AM EST, but it then jumped up to $1250.50 in early afternoon trade and ended with a gain of 0.22%. Silver rose to as high as $18.259 and ended with a gain of 0.5%.

April 3: Gold and Silver Gain While Stocks Fall

Gold fell $2.60 to $1244.70 in London, but it then climbed to as high as $1253.60 in New York and ended with a gain of 0.47%. Silver rose to as high as $18.258 and ended with a gain of 0.05%.

April 4: Gold and Silver Gain Again

Gold gained $8 to $1261.20 by a little after 8AM EST before it dropped down to $1254.10 by midmorning, but it then bounced back higher into the close and ended with a gain of 0.25%. Silver rose to as high as $18.409 and ended with a gain of 0.49%.

April 5: Gold and Silver Reverse Early Losses To End Barely Lower After Cautious Fed Minutes

Gold edged up to $1257.20 in Asia before it dropped back to $1243.90 in midmorning New York trade, but it then rallied back higher in the last couple of hours of trade and ended with a loss of just 0.02%. Silver slipped to as low $18.143 and ended with a loss of just 0.05%.

Silver Market Morning: April 6 2017 - Gold still consolidating on support!

In Europe, Mario Draghi cautiously implied that the fear of inflation has passed and while risks remain to the downside he was more confident that growth across the E.U. economy is becoming positive. To us there are so many continuing risks in Europe that one needs to continue to question the future of the E.U. economy. What we did find somewhat disturbing in what he said, was that the more positive shape of the economy was due to two factors, monetary policy and the oil price fall.

April 6: Gold and Silver Edge Lower Before Jobs Data Tomorrow

Gold chopped down to $1250.00 in late morning New York trade before it bounced back higher at times, but it still ended with a loss of 0.35%. Silver slipped to as low as $18.162 and ended with a loss of 0.38%.

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%.

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%.

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%.

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%.

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%.

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%.

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 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.

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%.

April 24: Gold and Silver End Well Off Their Lows

Gold dove down to $1266.10 at the open of trade last night before it bounced back above $1275 in Asia and then fell back to $1267.50 at about 8:15AM EST, but it then chopped its way back higher into the close and ended with a loss of just 0.68%. Silver slipped to as low as $17.734 and ended with a loss of just 0.22%.

April 25: Gold and Silver Fall Almost 1% and 2%

Gold fell $14.10 to $1262.00 in early afternoon New York trade before it bounced back higher at times, but it still ended with a loss of 0.96%. Silver slipped to as low as $17.566 and ended with a loss of 1.62%.

April 26: Gold Gains While Silver Slips

Gold waffled between $1266.40 and $1261.40 in Asia and London before it jumped up to $1266.80 in late morning New York trade and then pared back to $1260.40 in the next couple of hours, but it then jumped to a new session high of $1270.40 in the last minutes of trade and ended with a gain of 0.45%. Silver slipped to $17.33 before it also rallied back higher, but it still ended with a loss of 0.79%.

April 27: Gold and Silver Fall With Oil

Gold fell $8.20 to $1261.30 at about 10AM EST before it rallied back higher in the next couple of hours of trade, but it then drifted back lower into the close and ended with a loss of 0.35%. Silver slipped to as low as $17.262 and ended with a loss of 1.09%.

Silver Standard Resources Acquires Interest in AbraPlata

Huayra is engaged in exploration and development activities in Argentina and owns the Diablillos gold-silver project. The advancement of the Diablillos project, together with the M-18 project, is part of an agreement the company reached with Silver Standard Resources last September. Following the agreement, Silver Standard acquired a 19.9% equity stake in Huayra, a net smelter return royalty of 1% on the Diablillos and M-18's production. The company also appointed W. John DeCooman, its vice president of business development and strategy, to Huayra’s board of directors.

Silver Market Morning: June 28 2017 - Gold continues to recover from the massive [mistaken?] sale!

The three global gold markets are moving back into line today with London and New York rising to almost Shanghai’s level. New York rose to within $7.32 of Shanghai’s prices down from $16 lower than Shanghai, and London opened $7.42 lifting the discount to Shanghai, from $13.42. This is again, confirming Shanghai dominating pricing power.

June 28: Gold and Silver Gain Again

Gold gained $5.50 to $1254.60 in London before it fell back to $1247.90 in midmorning New York trade, but it then bounced back higher into the close and ended with a gain of 0.09%. Silver rose to as high as $16.859 and ended with a gain of 0.84%.

Silver Market Morning: June 29 2017 - Gold continues to consolidate!

Against yesterday’s Shanghai prices New York is now at a $8 discount to Shanghai and London opened at a $17.60 discount. Once again we will see where pricing power resides. We expect Shanghai will show itself as the price leader by lifting London and New York higher. But this sort of day clearly shows where the dominance lies.

June 29: Gold and Silver Fall With Stocks and Bonds

Gold edged up to $1252.90 in Asia before it fell back to $1239.90 by a little after 9AM EST, but it then bounced back higher into the close and ended with a loss of just 0.47%. Silver slipped to as low as $16.609 and ended with a loss of 1.19%.

Market Report: Half-year blues

Gold and silver prices were hit on Monday by a $2bn sale of Comex gold futures at about 0400 hrs EST, when US traders were not around to challenge it. Rumours of a “fat finger” appear wide of the mark. More likely it was a too-big-to-fail bank taking out all the stops to window-dress its books ahead of the half-year accounting deadline.

June 30: Gold and Silver Fall Roughly 1% on the Week

Gold fell $4.70 to $1239.60 at about 8:45AM EST before it chopped back higher at times, but it still ended with a loss of 0.23%. Silver slipped to as low as $16.541 and ended with a loss of 0.06%.

Silver Market Morning: July 3 2017 - Gold slipping before the holiday!

New York weakened on Friday after Shanghai and London weakened. This morning Shanghai weakened further setting the stage for London to fall. As you can see London is also seeing downward pressure as the U.S. dollar strengthened a little against all currencies bar the Pound Sterling.

Silver Is Now Offered At a Discount

Have you ever been in a discussion about gold, when someone blurts out “we don’t have enough gold to operate a gold standard!” We have a standard retort. “Oh, that’s interesting. Please tell us how much gold you think would be necessary, and how you calculated it.” We have never heard a coherent answer to this question. Most people just don’t like gold, and will say whatever words they think will dismiss the monetary question entirely, without actually having to address the issues.

How many Silver Bars are in the LBMA Vaults in London?

Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin publishing gold and silver vault holding totals covering the network of commercial precious vault operators in London that fall under its remit. This follows an announcement made by the LBMA on 8 May. There are seven commercial vault operators (custodians) in the LBMA custodian vault network namely, HSBC, JP Morgan, Brinks, Malca Amit, ICBC Standard Bank, Loomis (formerly Viamat), and G4S.

July 3: Gold and Silver Fall Almost 2% and 3%

Gold fell throughout most of world trade and ended near its last minute low of $1220.20 with a loss of 1.7%. Silver slipped to as low as $16.109 and ended with a loss of 2.83%.

Silver Market Morning: July 5 2017 - Gold stabilizing at lower levels, Silver double bottom?

Silver closed at $16.08 yesterday [in London] after $16.14 at New York’s close Monday. As with gold, silver is stabilizing at lower levels. As we said yesterday, silver ignores its own fundamentals and will follow gold as a monetary metal, both ways further and faster. We are expecting the silver price to be volatile, but with the present stabilizing, we hope to see a clear direction in the price of gold and silver. The question remains, is silver forming a double bottom?

July 5: Gold and Silver End Mixed

Gold edged up to $1228.80 in Asia before it fell back to $1217.60 in London, but it then bounced back higher in New York and ended with a gain of 0.41% from Monday. Silver rose to as high as $16.219 before it fell back to $15.881 and then also edged back higher at times, but it still ended with a loss of 0.68%.

Silver Market Morning: July 6 2017 - Gold and silver still stabilizing, where next is critical!

The Fed Minutes gave a less certain picture than was interpreted by the media from the statement by Janet Yellen. The Fed is worried that inflation is falling, not rising and it is now clear that if we do see a rate hike, we are unlikely to see a start to the tapering of the Fed’s Balance Sheet. But we do expect a Balance Sheet reduction from September at a very slow pace, so the prospect of a rate hike this year is falling away if the data pattern continues as it is now.

July 6: Gold and Silver End Slightly Lower

Gold saw slight gains in Asia before it drifted back to $1222.70 in London and then popped back higher in early New York trade, but it still ended with a loss of 0.05%. Silver slipped to as low as $15.937 and ended with a loss of 0.12%.

Silver Prices Bounce Higher After Futures Manipulated 7% Lower In Minute

– Silver prices ‘flash crash’ before rebound – Silver hammered 7% lower in less than minute in Asian trading – Silver fell from $16 to $14.82, before recovering to $15.89 – Silver plunge blamed on another ‘trading error’ – Gold similar ‘flash crash’ last week and similar recovery

Silver Market Morning: July 7 2017 - Gold and silver marking time!

Shanghai is stabilizing again today, but not by much. New York traded at $6 lower than Shanghai following Shanghai’s close yesterday. Today London opened $11 lower than Shanghai. Until gold makes a firm break one way or another we consider it directionless as it has been for most of the second quarter. Today, once again, remains a critical day for the gold price in all three global centers as the direction forward is still to be established.

Market Report: Speculators chicken out

The fall in prices has continued after the end of the half year, when the bullion banks have had a history of suppressing prices to window-dress their books. Doubtless a reason will be concocted to justify this price action, and favourite must be the deflationary effects of the Fed running off its mega-balance sheet. But this is to misread the current fragility of the system. We can state categorically that the US and global economies are simply debt junkies, needing increasing amounts of debt, or they die. Does anyone seriously think that the Fed and the other central banks will let this happen?

July 7: Gold and Silver Fall Over 2% and 6% on the Week

Gold dipped $5.60 to $1219.10 in Asia before it bounced back to $1227.00 just after this morning’s jobs data was released, but it then fell to a new session low of $1207.30 in late morning New York trade and ended with a loss of 1%. Silver flash crashed to $14.402 in Asia before it rebounded to $15.981 in early New York trade, but it then fell back to $15.362 by late morning and ended with a loss of 2.81%.

CME Stays Silent on Cause of COMEX Silver Price Glitch

Silver futures prices on the COMEX futures trading platform briefly plummeted at approximately 7:06am Singapore time yesterday, with the price for the front month (most active) September silver contract falling from a US$16.06 quote down to a low of US$14.34 all within a 1 minute interval. The futures price then recovered nearly all of its losses in the subsequent 2-3 minute period. High to low, this COMEX silver futures contract saw its price fall by just over 10.7%, before rebounding nearly 11%.

Silver Market Morning: July 10 2017 - Gold and silver consolidating at lower levels!

As you can see Shanghai has not dropped as far as New York or London. The price differential is very wide now on today’s price of $15.94 between Shanghai and London. We have no doubt that today, gold, from the SPDR [GLD} is flowing across to Shanghai via HSBC the Custodian of the gold ETF. The big question is will Shanghai pull up London and New York prices or will Shanghai be pulled down to a much narrower differential? At the moment it is New York and London that are pulling prices down, but at the cost of gold flowing eastwards.

Is Manipulation Partly to Blame for Silver’s Plunges?

It is my privilege now to welcome in Chris Powell, Secretary-Treasurer at the Gold Antitrust Action Committee, also known as GATA. Chris is a long-time journalist and hard money advocate, and through his tireless efforts at GATA he is working to expose the manipulation of the gold and silver markets. Through GATA's work over the years. Some important revelations have come to light, which quite honestly should concern everyone.

July 10: Gold and Silver Edge Higher While Miners Gain 3%

Gold dipped $7.40 to $1205.00 in Asia before it jumped up to $1214.70 in London and then fell back under $1210 in early New York trade, but it then climbed to a new session high of $1215.00 by late morning and ended with a gain of 0.14%. Silver slipped to $15.197 before it climbed to as high as $15.737 and then drifted back lower, but it still ended with a gain of 0.64%.

“Silver’s Plunge Is Nearing Completion”

– Silver’s plunge is nearing completion – Bloomberg analyst – Silver’s 10% sharp fall in seconds remains “mystery” – Plunge despite anemic global supply and strong demand – Total silver supply declined in ’16 – lowest level since ’13 – Silver mine production down in ’16, first time in 14 years – Total silver supply decreased by 32.6 Mln Ozs in 2016 – Supply deficit in 2016- fourth consecutive year (see table) – “Falling knife” caution but opportunity presenting itself

Silver Market Morning: July 11 2017 - Gold and silver want to confirm the bottom is in!

Both New York and London turned higher yesterday. New York rose to Shanghai’s level at the close yesterday and London today is pulling the gold price down leaving the differential with Shanghai at just over $9 lower than yesterday’s differential. All global gold markets are looking for a bottom still. But as we mentioned yesterday there is an almost osmotic pressure in London that is shifting physical gold to the Far East constantly, in line with the price differentials between London and Shanghai.

Preparing for THE Bottom: Part 3 – Gold to Silver Ratio

In the first part of the Preparing for THE Bottom series, we emphasized the need to be sure to stay alert and focused in the precious metals market, even though it may not appear all that interesting. We argued that preparing for the big moves in gold that are likely to be seen later this year should prove extremely worth one’s while. In the second part of the series, we discussed when, approximately, one can expect the key bottom in gold to form (reminder: this winter appears a likely target).