• Gold: 1,335.59 0.18
  • Silver: 17.08 -0.05
  • Euro: 1.228 0.000
  • USDX: 90.316 0.359
  • Oil: 68.04 -0.1

Market Report: Silver Is The Star

1 day 8 hours ago

Having performed indifferently since the price fell in late January, the silver price suddenly broke out of its torpor with a 45-cent rise on Wednesday and peaked intraday yesterday at $17.36. Gold is still confined within its established trading range and is yet to break out.

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

Golden Arrow Establishes Targets at Antofalla Silver-Gold-Base Metal Project and Plans Exploration Program at Pescado Gold Project

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF)(WKN:A0B6XQ), ("Golden Arrow" or the "Company") is pleased to report that the soil sampling and surface IP/Resistivity surveys at the Antofalla silver-gold-base metal project in Catamarca Province, Argentina ("Antofalla" or "the Project) have successfully delineated significant targets. The first part of the US$2 million exploration program at Antofalla is now complete, and the budgeted 3000 metre drill program is planned to commence in the fourth quarter of the year. In the interim, the field team will be commencing exploration at the Pescado Gold Project in San Juan province. Details of the program for Pescado will be announced shortly.

July 11: Gold and Silver Gain Again

Gold saw slight losses in Asia and London and dropped to as low as $1208.30 in late morning New York trade, but it then jumped to as high as $1217.40 in midafternoon action and ended with a gain of 0.19%. Silver rose to as high as $15.85 and ended with a gain of 1.15%.

Putting the Latest Silver Crash Under a Lens

On Thursday, July 6, in the late afternoon (as reckoned in Arizona), the price of silver crashed. The move was very brief, but very intense. The price hit a low under $14.40 before recovering to around $15.80 which is about 20 cents lower than where it started. Buyers of silver are rejoicing. They can now get more money (silver, like gold, is money) in exchange for their dollars than before. However, as we see from the reactions in the community, there were few buyers.

Abraplata Reaches Agreement to Preserve Title to the Diablillos Ag-Au PROJECT in Argentina

AbraPlata Resource Corp. TSX.V:ABRA ("AbraPlata" or the "Company") (TSX-V: ABRA) (Frankfurt:1AH) (OTCQB:ABBRF) is pleased to announce that it has reached an agreement to acquire certain third party mineral rights that, as a result of a long-standing border dispute between two neighbouring provinces in northwestern Argentina, overlap, and potentially conflict with, the Company's mineral rights to its Diablillos Ag-Au project (see Figure 1 attached). The acquisition of the potentially conflicting mineral rights will allow the Company to retain its title to the Diablillos Ag-Au project regardless of the ultimate outcome of the provincial border dispute.

July 12: Gold and Silver Gain For The Third Day In A Row

Gold edged above $1220 in Asia and fell back to $1214.20 by a little after 8AM EST before it popped up to $1225.40 in the next hour of trade and then drifted back lower at times, but it still ended with a gain of 0.32%. Silver rose to as high as $16.023 ended with a gain of 0.51%.

July 13: Gold and Silver Edge Lower

Gold edged up to $1224.40 in Asia before it fell back to $1216.70 in midmorning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.17%. Silver slipped to as low as $15.695 and ended with a loss of 1.19%.

July 14: Gold and Silver Gain Over 1% and 2% on the Week

Gold dipped to $1215.00 in Asia, but it then shot to as high as $1232.60 in early New York trade and ended with a gain of 0.84%. Silver rose to as high as $16.081 and ended with a gain of 1.4%.

July 17: Gold and Silver Add Onto Recent Gains

Gold gained $7.50 to $1235.90 $16.196 by a little after 10AM EST before it chopped back lower at times, but it still ended with a gain of 0.46%. Silver rose to as high as $16.196 and ended with a gain of 1.07%.

July 18: Gold and Silver Rise A Third Day

Gold gained $10.40 to $1244.40 in midafternoon New York trade before it edged back lower in the last hour of trade, but it still ended with a gain of 0.66%. Silver rose to as high as $16.31 and ended with a gain of 0.93%.

July 19: Gold and Silver End Mixed

Gold fell $5.10 to $1237.00 in Asia before it climbed back to $1243.80 in midmorning New York trade and then chopped back lower at times, but it ended with a loss of just 0.04%. Silver slipped to $16.166 before it jumped back to $16.359 and then also fell back off, but it still ended with a gain of 0.12%.

July 20: Gold and Silver Edge Higher

Gold fell $6.30 to $1235.30 in London before it climbed back to $1242.00 by a little after 9AM EST and then dropped back to $1237.60 in the next hour of trade, but it then jumped to a new session high of $1247.50 in late morning action and ended with a gain of 0.17%. Silver rose to as high as $16.414 and ended with a gain of 0.06%.

Silver Market Morning: July 21 2017 - Gold and silver markets continue to climb stronger than we expected!

New York closed only $0.80 lower than Shanghai yesterday and has been trying to follow Shanghai all the way up, with London opening today at a discount to Shanghai’s trading today of $5.06 an narrower discount than we have seen this week. Both London and New York are being pulled up by Shanghai. With this strong Chinese demand the chances of both London and New York breaking through $1,250 are greatly increased.

July 21: Gold and Silver Gain Over 2% and 3% on the Week

Gold rose throughout most of world trade and ended near its midafternoon high of $1255.70 with a gain of 0.85%. Silver rose to as high as $16.522 and ended with a gain of 1.1%.

Zinc One Enters into Surface Access Agreement with Comunidad Campesina de Yambrasbamba on the Bongará Zinc-Oxide Project and Announces Results of AGM

“Reaching an agreement with the Yambrasbamba community is a major milestone for Zinc One and the Bongará Zinc-Oxide Mine Project. The Yambrasbamba community has previously seen the full gamut of mining – from exploration to construction to operations to remediation – which is extremely rare. They are very knowledgeable and not only understand the economic opportunities it will afford the CCY stakeholders, but have seen the overall minimal impact of mining and the benefits of remediation. We are grateful to have such a supportive community and, if the project moves ahead as we expect, then we see the building of the Bongará Zinc Oxide Mine Project as a win for the community, government and company shareholders,” commented James Walchuck, CEO of Zinc One.

Silver Morning: July-25-2017

In addition Chinese demand and the new London based LME precious arbitrage market with Hong Kong is letting London feel Chinese demand directly, in addition to the big banks in China doing the same in London. So we are watching to see where the gold price will go today.

Silver Market Morning: July-28-2017

With all the chatter about the timing of rate hikes or trimming the Fed’s Balance Sheet, one very, very important factor is being overlooked in the U.S. If inflation continues at lower or lowering levels and the recovery stalls followed by a downturn, the Fed has almost no more tools with which to combat the falls. As it is rates continue to be so low that any lowering will have little to no impact [unless they go negative] on stimulating the U.S. economy. Likewise, trimming the Fed’s Balance Sheet, we feel, will have little to no impact on the U.S. financial world. If they go that road and there is a downturn in the U.S. further stimulation is likely to crack confidence in the dollar, something that the Fed cannot afford! Certainly little could be more positive for the gold price. Despite their positive demeanor, Fed officials must be very disturbed by the downturn in inflation.

Silver Morning: July-31-2017 -- silver rising in all currencies!

A lifetime of experience in global financial markets has taught us to recognize when a market is over extended either way. It has also taught us that it can stay over-extended for a long time The clear signs are when a market has discounted a very rosy future and expected returns are small relative to the price of assets. But in a climate where prices are very high, fund managers have to decide if the reasons are because they are over-bought, or if the money used to buy them is depreciating in value. Right now equity prices relative to fixed interest rate returns are not excessive. But the prospects of higher rates that will change this have been put off, allowing equities and other assets to remain too high for longer. Indeed the temptation this brings is that prices can go, unjustifiably, quite a bit higher. But this brings into view that when markets eventually do turn down they will fall precipitously. In such a climate ‘stop loss’ protections should be replaced with short positions. Once that happens on a large scale interest rates will become irrelevant and permit markets to fall precipitously simply because markets are falling.

Silver Market Morning: August-4-2017

The dollar is firmly in its bear market, but the media are calling for a rally as it is ‘oversold’. When it comes to a currency we do not see it moving like a share price. This applies to the dollar in particular. Hence we do not give too much weight to the Technical picture of the dollar, right now as we are seeing structural changes in the currency world.

Silver Morning: August-7-2017

In the euro there was only a small drop in the gold price. So where is the dollar going from now on? We don’t see the gold price falling in other currencies and indeed we are not convinced by the jobs report spurring wage inflation soon. The jobs being created are easily low, but on top of that the impact of technology on quality jobs is heavy. The failure of full employment to spur wages is a structural change that will not reverse.

August 14: Gold and Silver Fall as Dollar Climbs With Stocks

Gold fell $12.60 to $1278.70 in London before it bounced back higher throughout most of the morning in New York, but it then drifted back lower in afternoon trade and ended with a loss of 0.72%. Silver slipped to as low as $16.932 and ended with a loss of 0.23%.

October 10: Gold and Silver Gain but Miners Fall

Gold gained $9.40 to $1294.20 in late morning New York trade before it fell back off into the close, but it still ended with a gain of 0.27%. Silver rose to as high as $17.245 and ended with a gain of 0.88%.

Golden Arrow Announces New Director Appointment

Alf Hills has over 35 years of international mine evaluation, development and operational experience. From 2006 to 2013, he was the CEO and a director of Kobex Minerals Inc. and its predecessor company, International Barytex Resources. Prior to that he spent 26 years with the Placer Dome group. He was involved in the development of the CIM Best Practice Guidelines for Mineral Resource and Mineral Reserve Estimates. Mr. Hills is registered as a Professional Engineer and is a graduate of the University of British Columbia in Mining and Mineral Process Engineering.

October 11: Gold and Silver Jump Higher After FOMC Minutes

Gold gained $2.80 to $1291.10 at about 9AM EST before it fell back to $1284.70 in early afternoon trade, but it then jumped back higher into the close and ended with a gain of 0.36%. Silver rose to as high as $17.23 and ended with a gain of 0.58%.

October 12: Gold and Silver End Slightly Higher on the Day

Gold gained $4.40 to $1297.40 in Asia before it fell back to $1289.90 in late morning New York trade, but it then bounced back higher into the close and ended with a gain of 0.02%. Silver rose to as high as $17.257 and ended with a gain of 0.06%.

AbraPlata retains Venture Liquidity Providers Inc as market maker

AbraPlata Resource Corp (ABRA.V) (ABBRF) (1AH.F) ("AbraPlata" or the "Company") is pleased to announce that it has, subject to regulatory approval, retained Venture Liquidity Providers Inc ("VLP") to initiate its market making service to provide assistance in maintaining an orderly trading market for the common shares of the company.

October 13: Gold and Silver Gain Over 2% and 3% on the Week

Gold saw modest gains in Asia before it fell back to $1290.70 in London, but it then jumped up to $1302.50 after the release of economic data in New York and ended with a gain of 0.8%. Silver rose to as high as $17.393 and ended with a gain of 0.99%.

Comfortably Numb: Surviving the Assault on Silver

In the late 1960s and most of the 1970s, an English rock band named Pink Floyd dominated the world of progressive and psychedelic music with such memorable albums as "Dark Side of the Moon," "Wish You Were Here," and "The Wall." One of their greatest hits was a song entitled "Comfortably Numb" and as I was listening to it the other night, the refrain in the middle of the song—"Gotta keep it going through the show; c'mon it's time to go"—reminded me of the current state of the precious metals markets in the sense that the bullion bank criminals really are doing their utmost to "keep it (the price caps and interventions) going through the show". That silver investors have been rendered "comfortably numb" by way of serial price assaults is a testimonial to the sentiment out there for silver equities, coins, and the like. In case you hadn't noticed, sentiment for gold and particularly silver is outright putrid.

October 16: Gold and Silver Fall Back Off in Late Trade

Gold gained $2.40 to $1306 in early New York trade, but it then fell back off into the close and ended near its late session low of $1291.80 with a loss of 0.7%. Silver slipped to as low as $17.137 and ended with a loss of 0.98%.

October 17: Gold and Silver Fall Roughly 1% But Miners Barely Budge

Gold fell $12.70 to $1281.80 in late morning New York trade before it bounced back higher in the next few hours, but it still ended with a loss of 0.69%. Silver slipped to as low as $16.969 and ended with a loss of 1.05%.

Silver Bullion Prices Set to Soar

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

October 18: Gold and Silver End Slightly Lower

Gold fell $8.60 to $1277.00 at about 8:15AM EST, but it then chopped back higher in New York and ended with a loss of just 0.37%. Silver slipped to as low as $16.901 and ended with a loss of 0.23%.

SilverCrest Expands Babicanora High-Grade Footprint to 600 metres; New High-Grade Vein Discoveries Highlight District Scale Potential

SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce additional Phase II drill results for the Las Chispas Property (the "Property") located in Sonora, Mexico. Step-out drilling targeting extensions of the Babicanora Vein continues to intersect high-grade mineralization. With the latest results, SilverCrest has drill-tested the Babicanora Vein over a 600 metre strike length (previously 500 metres), with a near-surface mineralized height of 150 to 175 metres.

AbraPlata reports latest drill results for the Fantasma Mineralized Zone at the Diablillos Project in Argentina

Hole DDH-17-152, which was collared 130m WSW of hole DDH-17-128 (the first hole of the current campaign and subject of news release dated August 1, 2017), intersected 89.6g/t Ag over 9m (from 109m – 118m down the hole), including 227.0g/t Ag over 2m (from 112m – 114m). Drilling to date at Fantasma has indicated mineralization and alteration over a 400m zone oriented along a WNW trend. A high grade core (~100-150g/t Ag) manifests itself in the SE half of this zone (Figure 1) and appears to have a strike of some 200m (Figure 1) and a width of about 30m (Figure 2). This high grade core is open to the ESE towards the Oculto deposit some 600m to the E of the Fantasma Zone, and the higher grade core seems to plunge down below lower grade mineralization (30-60 g/t Ag) towards the WNW.

October 19: Gold and Silver Gain Roughly 1%

Gold fell $4.10 to $1276.80 in Asia, but it then climbed to as high as $1290.00 in late morning New York trade and ended with a gain of 0.55%. Silver rose to as high as $17.258 and ended with a gain of 1.35%.

Market Report: Counter-trend decline

After the previous two-week rally, it was perhaps natural for precious metals to consolidate this week. Gold, which closed on a high note last Friday, lost $23 to $1281 by early European trade this morning (Friday), and silver 34 cents to $17.08. Trade on Comex was subdued, and the reason behind the pause appears to be a continuing rally in the dollar.

October 20: Gold and Silver Fall About 2% on the Week

Gold drifted lower throughout most of world trade and ended near its early afternoon New York low of $1278.00 with a loss of 0.62%. Silver slipped to as low as $16.946 and ended with a loss of 1.16%.

October 23: Gold and Silver Jump Higher in Late Trade

Gold fell $7.50 to $1272.50 by a little after 9AM EST before it jumped up to $1282.50 in early afternoon action and then drifted back lower, but it then popped back higher again into the close and ended near its last-minute high of $1283.30 with a gain of 0.18%. Silver rose to as high as $17.105 and ended with a gain of 0.35%.

October 24: Gold and Silver Drift Lower While Stocks Continue Higher

Gold edged up to $1283.60 in Asia before it fell back to $1273.80 at about 11AM EST, but it then bounced back higher into the close and ended with a loss of just 0.35%. Silver slipped to as low as $16.883 and ended with a loss of 0.7%.

October 25: Gold and Silver End Barely Lower

Gold fell $6.70 to $1271.10 at about 8:45AM EST, but it then chopped up to as high as $1279.80 in early afternoon trade and ended with a loss of just 0.03%. Silver rose to as high as $17.001 and ended with a loss of 0.18%.

SilverCrest Identifies Bonanza Grade Area at Las Chispas; 4.5 Metres grading 2,516 gpt AgEq*

SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to release additional underground channel sample results from its ongoing Phase II Exploration Program for the Las Chispas Property (the "Property") located in Sonora, Mexico. In addition to the current drill program, the Company continues to systematically sample rehabilitated underground historic workings of the Las Chispas Vein (see attached Figures) to define readily accessible high grade areas. The Company is currently exploring nine of the 19 known epithermal veins on the Property with efforts focused on delivering a maiden resource estimate in Q1 2018.

October 26: Gold and Silver Fall Almost 1%

Gold gained $5.10 to $1282.50 in Asia and held near unchanged in London, but then fell back off in New York and ended near its last-minute low of $1265.90 with a loss of 0.79%. Silver slipped to as low as $16.744 and ended with a loss of 0.94%.

October 27: Gold and Silver Fall Roughly 1% on the Week

Gold dipped $3.40 to $1263.90 in London, but it then rose to as high as $1273.70 in New York and ended with a gain of 0.46%. Silver climbed to as high as $16.863 and ended with a gain of 0.36%.

SilverCrest Announces High Metallurgical Test Recoveries For Las Chispas

SilverCrest Metals Inc. (“SilverCrest Metals” or the “Company”) is pleased to announce initial metallurgical test results for the Las Chispas Property (the “Property”) located in Sonora, Mexico. Results show that the Las Chispas high-grade silver-gold mineralization appears to be amenable to standard cyanidation processing with average recoveries of 98.9% gold and 86.6% silver. Since the Las Chispas deposit geochemistry is similar to the nearby operating Santa Elena Mine (“Santa Elena”), the metallurgical test program was designed using processing criteria similar to that operation which uses a CCD-Merrill Crowe processing facility. Based on these initial high recovery percentages at Las Chispas, further metallurgical test work is planned for 2018.

October 30: Gold Gains While Stocks Drop

Gold dipped $4.10 to $1269.00 in Asia, but it then jumped up to as high as $1278.80 in early afternoon New York trade and ended with a gain of 0.2%. Silver rose to as high as $16.892 and ended unchanged on the day.

October 31: Gold and Silver Fall While Stocks Bounce Back

Gold fell $7.70 to $1267.90 in midmorning New York trade before it edged back higher into the close, but it still ended with a loss of 0.39%. Silver slipped to as low as $16.643 and ended with a loss of 0.71%.