• Gold: 1,243.50 1.93
  • Silver: 15.83 0.03
  • Euro: 1.169 0.000
  • USDX: 94.708 -0.044
  • Oil: 70.61 0.05

July 13: Gold and Silver Fall Over 1% on the Week

2 days 7 hours ago

Gold dropped $10.30 to $1236.80 at about 8AM EST before it rebounded in New York, but it still ended with a loss of 0.44%. Silver slipped to as low as $15.692 and ended with a loss of 0.88%.

Silver Eagles Soar

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%.

Silver Market Morning: August-15-2017: Gold and silver consolidating as the dollar corrects higher?

New York closed $4.53 higher than Shanghai’s close yesterday. Then today sees Shanghai dropping the gold price just before London opened, which lead to London’s prices being lower as the dollar corrected higher, in its falling pattern. Shanghai is leading the way down, but following a stronger dollar as it adjusts to dollar gold prices.

Gold Seeker Closing Report: Gold and Silver Fall Again

Gold fell $14.30 to $1267.70 at about 9AM EST before it chopped back higher at times, but it still ended with a loss of 0.74%. Silver slipped to as low as $16.583 and ended with a loss of 2.46%.

Silver Market Morning: August-16-2017: Gold and silver still consolidating as the dollar corrects higher!

New York closed $5.00 higher than Shanghai’s close yesterday. Then today sees Shanghai dropping the gold price once again just before London opened, which lead to London’s prices being lower for the same reason as yesterday, as the dollar continued higher, in its falling pattern.

August 16: Gold and Silver Reverse Morning Losses And End Higher

Gold dipped to $1267.60 by a little after 9AM EST, but it then jumped to as high as $1283.80 in afternoon trade and ended with a gain of 0.72%. Silver slipped to $16.634 in Asia, but it then climbed to as high as $17.112 in late trade and ended with a gain of 2.64%.

August 17: Gold Gains While Stocks Drop Over 1%

Gold gained $8.10 to $1289.80 in Asia before it fell back to $1281.70 in late morning New York trade, but it then rallied back higher into the close and ended with a gain of 0.55%. Silver rose to $17.159 before it fell back to $16.977 and then also bounced back higher, but it still ended with a loss of 0.23%.

Silver Market Morning: August-18-2017: Gold and silver moved robustly higher again as the dollar weakened!

The dollar is falling once more, but not precipitously. It will lead to higher gold prices if it continues. This is being reflected in today’s prices. There is strength to the rise in gold price that we had not seen before in the previous attacks on $1,300. The causes are solid too. These are; an overvaluation of the dollar, a resuscitation of U.S. demand for physical gold, a dearth of sellers of gold, Shanghai’s demand for gold remains strong as it does in London!

Silver Cycles and War Cycles

Wars are usually financed with debt – borrowed currency. The extra currency in circulation creates price inflation. Silver prices, along with most other commodities, rise due to currency devaluation. Silver is used in war materials and war production, so demand rises, which also causes prices to rise. Conclusion: We expect silver prices to rise at the beginning of new wars or the escalation of major and costly wars. There is little doubt that both World Wars and the Vietnam War were costly and important to the U.S. economy.

Gold Seeker Closing Report: Gold Gains and Silver Surges 2.5%

Gold gained $10.30 to $1280.90 in London before it chopped back lower at times, but it still ended with a gain of 0.36%. Silver surged to as high as $17.192 and ended with a gain of 2.51%.

AbraPlata identifies additional mineralized targets at the Oculto Ag-Au deposit on its Diablillos property in northwestern Argentina

AbraPlata Resource Corp (ABRA.V) (ABBRF) (1AH.F) ("AbraPlata" or the "Company") is pleased to announce that its geological consultant has completed his review of the Diablillos property, and has identified seven new zones that will be drill tested for extensions to existing resources at the Oculto deposit on the Diablillos property (Figure 1) in the Province of Salta in Argentina. Black elipses shown on Figure 2 are open ended resource targets from previous drilling, while the red rectangles are recently identified structures that appear to control mineralization as evidenced from the mapping of breccia and alteration as well as the logging of previously drilled holes.

November 2: Gold and Silver End Mixed Amid Tax Talk and Powell Nomination

Gold gained $6.20 to $1281.40 in Asia before it fell back to $1273.40 in London and then jumped up to $1284.00 in midmorning New York trade, but it then fell back off into the close and ended with a gain of just 0.08%. Silver slipped to as low as $17.042 and ended with a loss of 0.12%.

November 3: Gold Ends Barely Lower on the Week

Gold gained $3.50 to $1279.70 just after 8:30AM EST before it fell back to $1265.70 in late morning New York trade and then edged back higher into the close, but it still ended with a loss of 0.48%. Silver slipped to as low as $16.785 and ended with a loss of 1.64%.

Silver’s Sign and USD’s Upcoming Reversal

Most of technical analysis that one can read about gold and gold stocks is based on these markets alone. This is quite strange given the multitude of intermarket relationships, but still that’s the case. While it is true that looking at the performance of a given market is the most important thing that one can do when estimating the future performance of a given asset, it doesn’t mean that it’s all there is to it.

November 6: Gold Gains Nearly 1% and Silver Surges Over 2%

Gold fell $3.80 to $1266.30 in Asia, but it then shot to as high as $1282.70 in early afternoon New York trade and ended with a gain of 0.86%. Silver surged to as high as $17.255 and ended with a gain of 2.38%.

November 7: Gold and Silver Fall Back A Bit

Gold edged down to $1275.30 at about 4AM EST before it bounced back to $1280.10 in midmorning New York trade and then dropped to a new session low of $1272.30 by late morning, but it then chopped back higher into the close and ended with a loss of just 0.36%. Silver slipped to $16.987 before it rallied back to $17.183, but it then fell to $16.925 in early afternoon trade and ended with a loss of 1.65%.

Could A Commodity Rally Help Spark Silver?

While it is widely believed that commodities are one of the few "undervalued" sectors, sustained rallies have been hard to find over the past few years. Could all that be finally beginning to change? The key to any commodity rally is weakness in the US dollar. Most commodities trade in dollar terms so a rising dollar generally puts pressure on the sector. In contrast, a falling dollar is usually good for the sector.

November 8: Gold and Silver Gain With Stocks

Gold gained $10.70 to $1287.10 in late morning New York trade before it edged back lower into the close, but it still ended with a gain of 0.35%. Silver rose to as high as $17.242 and ended with a gain of 0.29%.

November 9: Gold Gains While Stocks Fall on Tax Talk

Gold gained $7.20 to $1288.10 in London before it dropped back to $1282.10 in late morning New York trade, but it then rallied back higher in afternoon trade and ended with a gain of 0.41%. Silver rose to as high as $17.14 and ended unchanged on the day.

A “Silver” Lining In The Metals Market

As I have noted for the last several weeks, silver really seems to be the more telling of the metals charts. I have been following a potential count which suggests that a (c) wave rally within a b-wave of wave ii is taking shape. And, I have noted that as long as we hold over the 16.40-16.50 support region, we can rally back up towards the September highs.

November 10: Gold and Silver End Slightly Higher on the Week

Gold saw only slight losses in Asia and London, but it then plummeted down to $1273.60 in early afternoon New York trade and ended with a loss of 0.79%. Silver slipped to as low as $16.798 and ended with a loss of 0.71%.

Silver Sign’s Confirmation And More

Summing up, it seems that silver is going to decline significantly in the coming weeks and months, but we should not be surprised by an interim corrective upswing (possibly triggered by a reversal in the USD Index when the latter moves close to the 96 level). The awareness of a specific turning point in the first days of December is something that will become particularly important once we get closer to this date - it will be very useful in connection with the direction in which silver will move in the final part of November.

November 13: Gold and Silver Gain With Stocks

Gold gained $3.50 to $1279.40 in London before it dropped back towards unchanged in early New York trade, but it then climbed to a new session high at $1279.70 by late morning and ended with a gain of 0.13%. Silver rose to as high as $17.068 and ended with a gain of 0.83%.

November 14: Gold Gains While Stocks Fall

Gold dropped $6.80 to $1270.80 in Asia before it rebounded to $1276.30 in London and then fell back towards its earlier low after this morning’s PPI data was released, but it then jumped to as high as $1283.60 in afternoon New York trade and ended with a gain of 0.21%. Silver rose to as high as $17.088 and ended with a loss of 0.06%.

November 15: Gold and Silver Reverse Early Gains To End Slightly Lower

Gold gained $8.80 to $1289.10 just after 8:30AM EST before it dropped back to $1277.00 in midafternoon trade, but then edged back higher in the last hour of the day and ended with a loss of just 0.13%. Silver rose to as high as $17.197 and ended with a loss of 0.24%.

Comparing Digital Metals

With total Comex silver open interest near the 200,000 contract level, we thought it would be enlightening to once again discuss the total volume of physical mine supply versus digital metal supply on this futures exchange.

November 16: Gold Holds Near Unchanged While Stocks Gain on Tax Vote

Gold gained $3 to $1281.60 in midmorning New York trade before it chopped back lower into the close, but it ended with a loss of just 0.01%. Silver rose to as high as $17.122 and ended with a gain of 0.59%.

November 17: Gold and Silver Gain Over 1% and 2% on the Week

Gold saw only slight gains in Asia and London, but it then climbed steadily higher throughout most of trade in New York and ended near its early afternoon high of $1296.70 with a gain of 1.21%. Silver rose to as high as $17.371 and ended with a gain of 1.17%.

Money and Markets Infographic Shows Silver Most Undervalued Asset

– Silver remains severely under owned and under valued asset – Entire silver market worth tiny $100 billion shown in one tiny square – “All of the World’s Money and Markets in One Visualization” – Must see ‘Money and Markets’ infographic shows relative size of key markets: silver bullion, gold bullion, cryptocurrencies/ bitcoin, largest companies, 50 richest people, Fed balance sheet, currency, stocks, property, cash, debt and derivatives – Small allocation by investors and world’s richest will see silver surge like bitcoin

November 20: Gold and Silver Give Back Friday’s Gains

Gold fell throughout most of the morning in New York and ended near its early afternoon low of $1275.10 with a loss of 1.28%. Silver slipped to as low as $16.847 and ended with a loss of 2.03%.

November 21: Gold and Silver Gain With Stocks

Gold gained $4 to $1281.30 in Asia before it dropped back to $1276.30 in London, but it then jumped up to $1284.70 in New York and ended with a gain of 0.2%. Silver rose to as high as $17.051 and ended with a gain of 0.12%.

November 22: Gold and Silver Gain About 1%

Gold saw only modest gains in Asia and London, but it then climbed steadily higher in New York and ended near its late session high of $1294.50 with a gain of 0.91%. Silver rose to as high as $17.162 and ended with a gain of 1.12%.

Silvercorp Announces Share Repurchase Program

Silvercorp Metals Inc. ("Silvercorp" or the "Company") is pleased to announce a Normal Course Issuer Bid to acquire up to 8,409,712, common shares, representing approximately 5% the 168,194,254 common shares issued and outstanding as of November 16, 2017.

The Precious Metals Bears' Fear of Fridays

In the last issue of Seasonal Insights I have shown that the gold price behaves quite peculiarly in the course of the trading week. On average, prices rise almost exclusively on Friday. It is as though investors in this market were mired in deep sleep for most of the week.