• Gold: 1,402.35 -7.13
  • Silver: 15.22 -0.06
  • Euro: 1.137 0.000
  • USDX: 96.225 0.011
  • Oil: 59.03 -0.23

If History Still Matters, Silver Is Poised For A Huge Move

1 day 19 hours ago

It’s been a pretty good couple of months for precious metals, but more so for gold than silver. Both are up but gold is up more, and the imbalance that this creates might be one of the major investment themes of the next few years. The gold/silver ratio – that is, how many ounces of silver it takes to buy an ounce of gold – has bounced all over the place since the 1960s. But whenever it’s gotten extremely high – say above 80 – silver outperformed gold, sometimes dramatically.

Finding Opportunity in Silver, the Devil's Metal

Silver has been called the most volatile of metals. But volatility produces opportunity, according to Chris Thompson, a top-ranked StarMine analyst with Haywood Securities. In this exclusive interview with The Gold Report, Thompson forecasts a strong year-end for the devil's metal, despite price weakness so far in Q2/12.

Target 2 reached in Silver (Copper target reached)

The second target for the bearish "Head and Shoulders" pattern on silver was reached for greater than $25,000 per contract. The target was using "Measured Rule", which takes the distance from the top of the head to the neckline, and adding it onto the breakdown point.

Silver Market Morning

New York bounced back to $1,550 yesterday and Asia and London held it in that region today ahead of the gold Fix. The euro was weaker at €1: $12707. This morning in London, gold Fixed at $1,547.00 and in the euro at €1,217.439 up €10. Ahead of New York’s opening it looked slightly weaker at $1,546.50 and in the euro, which also continued to slip, €1,217.81 while the euro was at €1: $1.2699.

May 16: Gold and Silver End Lower Again

Gold fell almost 1% to a new 2012 low of $1527.32 in Asia before it rallied back to $1552.03 at about 10:25AM EST, but it then fell back off again into the close and ended with a loss of 0.19%. Silver slipped to $27.202 in Asia before it climbed back to $27.97, but it then dropped to a new low of $26.78 in early afternoon trade and ended with a loss of 1.77%.

iShares Silver Trust: 9,516.40 tonnes

iShares Silver Trust: 9,516.40 tonnes

Backwardation in Gold And Silver

On Monday, May 14, something happened that hasn’t happened since Dec of 2008. Two successive near-month precious metals futures contracts were in backwardation at the same time. To oversimplify, backwardation is when the price of a futures contract is lower than the price in the spot market.

Extorre Reacts to Current Market Conditions and Announces Further High Grade Drilling Results at Cerro Moro

"One drill rig remains on the infill drilling program on our principal prospects, namely Zoe, Escondida, Loma Escondida and Gabriela. Our aim is to ensure that the drilling density is sufficient in areas that would fall within the first two years of a potential mining scenario (at 1300 tonnes per day) to estimate "indicated mineral resources". This program is nearing completion, with the drilling at Zoe, Loma Escondida and Gabriela essentially complete."

Silver Market Morning

May 15: Gold and Silver Fall Over 1% and 2%

Gold fell to $1548.10 in Asia before it rebounded to $1563.92 at about 8:30AM EST, but it then fell back off again in late trade and ended near its new 2012 low of $1542.40 with a loss of 1.05%. Silver climbed back up to $28.457 in early New York trade, but it then fell to as low as $27.58 in the last minutes of trade and ended with a loss of 2.09%.

SilverCrest Reports Q1 2012 Financial Results; Cash Flow from Operations of $12.2 Million ($0.14 Per Share)

VANCOUVER, BRITISH COLUMBIA--(05/15/12)- SilverCrest Mines Inc. (the "Company") (TSX-V: SVL)(STVZF.PK)(STVZF.PK) is pleased to announce its financial results for the first quarter ended March 31, 2012 (all figures in U.S. dollars unless otherwise specified.)

Santacruz Silver Mining Ltd.: Corporate Update and Appointment of Investor Relations Manager

Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (TSX-V: SCZ) Santacruz is pleased to report significant progress at its Rosario project, located in the historical mining district of Charcas, San Luis Potosi, Mexico. In August 2011 the Company signed an option agreement with Compania Minera Nukay, S.A. de C.V. a subsidiary of Goldcorp Inc. to purchase a mill with a capability of 500 tonnes per day. The mill, which is currently being disassembled will be moved to the property within the third quarter of 2012. The mill is scheduled to be commissioned within the first quarter of 2013. Utility permits for water and power are expected to be ready during the third quarter of 2012.

Silver Market Morning

New York closed at $1,558.60 down $23 and held there in Asia as the selling seemed to have stopped for the moment. The euro stood at €1: $1.2863. This morning in London, gold Fixed at $1,559.00 down $5 and in the euro at €1,213.607 the same as yesterday. Ahead of New York’s opening it started to bounce and stood at $1,559.55 and in the euro, which also continued to slip, €1,212.90 while the euro was at €1: $1.2858.

Great Panther Silver Reports First Quarter 2012 Financial Results

"First quarter revenue was directly in line with our expectations, considering the lower production and metal prices compared to Q1 of last year," stated Robert Archer, President and CEO. "This was also a timing issue for us related to a shipment of concentrate to a new smelter where the revenue will be recognized in Q2 this year. With the addition of this new customer, we have secured contracts for the sale of our concentrates for our 2012 planned production."

May 14: Gold and Silver Fall Roughly 2%

Gold fell to as low as $1556.81 in early New York trade before it bounced back higher at times, but it still ended with a loss of 1.44%. Silver slipped to as low as $28.19 and ended with a loss of 2.35%.

South American Silver Files First Quarter 2012 Financial Statements and MD&A and Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/14/12)- South American Silver Corp. (SAC.TO)(SOHAF.PK) reports the release of its unaudited condensed interim consolidated financial statements for the three months ended March 31, 2012 and the related management's discussion and analysis of financial position and results of operations ("MD&A"). The Company is also pleased to provide an update on the Malku Khota silver-indium project in Bolivia and the Escalones copper-gold project in Chile. In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.

Silver Market Morning

New York closed at $1,581.30 down $12.3 before the ‘clumsy’ seller came in again and pushed the gold price down in Asia again to $1,563. The euro stood at €1: $1.2876 after Friday’s close of €1: $1.2921. This morning in London, gold Fixed at $1,563.00 down $18 and in the euro at €1,213.792 down €15. Ahead of New York’s opening it started to bounce and stood at $1,564.00 and in the euro, which also continued to slip, €1,215.51 while the euro was at €1: $1.2867.

Silver Wheaton Reports a Strong Start to 2012 with Record Quarterly Revenues of US$200 Million

"Solid operating performance from across our portfolio of mines led to a strong start in 2012," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "We achieved record quarterly revenues, and are on target to attaining our annual production guidance of 27 million silver equivalent ounces. With continued positive progress at our world-class cornerstone assets, including the Peñasquito and Pascua-Lama mines, Silver Wheaton retains one of the strongest growth profiles in the sector."

May 11: Gold and Silver Fall About 4% on the Week

Gold fell $20.28 to $1573.72 by about 3:30AM EST before it climbed back to $1590.53 by late morning in New York, but it then fell back off into the close and ended with a loss of 0.8%. Silver slipped to as low as $28.436 by midmorning in New York before it rallied back to $29.15, but it also fell back off in afternoon trade and ended with a loss of 0.58%.

Silver Chart and Comments

Silver continues to be the poor poster child for the Deflation or Risk Aversion Trade. It's chart is abysmal at this point as it has steadily retreated since peaking near $50 in what seems a lifetime ago. About the only positive thing that can be said about it is that is had not been below the $26 level for some time now. That level still seems to be bringing in buyers.

iShares Silver Trust: 9,465.08 tonnes

Silver Trust (SLV) Total Tonnes in Trust: 9,465.08: No change from yesterday’s data.

Golden Arrow Samples 281 g/t Silver, 0.5% Lead over 3.35 metres from New Target at Antofalla Silver-Gold-Base Metal Project

The 8,760 hectare Antofalla project has strong geologic similarities to the Company's flagship Chinchillas silver project, which has a positive pre-feasibility study for development (see news release dated March 31, 2017). Antofalla's 4 kilometre by 5 kilometre volcanic dome complex and alteration zone hosts several areas of known mineralization, but was underexplored by previous operators. Since initiating the program at Antofalla the geological team has undertaken systematic grassroots exploration throughout the property, including mapping, chip and channel sampling, and soil sampling on a 100 metre grid spacing over an area of 6.5 by 3 kilometres.

May 2: Gold and Silver End Barely Lower Before Fed Day

Gold fell $5.20 to $1252.00 by a little after 9AM EST, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.02%. Silver slipped to as low as $16.789 and ended with a loss of 0.36%.

Silver Bullion On Sale After 10.6% Fall In Two Weeks

Precious metals continue to weaken, especially silver which has declined eleven consecutive days and is now down over 10.6%. The sell off is again almost solely a result of futures market participants pushing or manipulating prices lower – depending on your view – despite no bearish silver or wider market developments or news that could be construed as bearish for silver.

May 3: Gold and Silver Fall Over 1% and 2%

Gold dropped $10.70 to $1246.20 at about 10:30AM EST before it bounced back higher around the release of today’s fed announcement, but it then fell back off into the close and ended with a loss of 1.38%. Silver slipped to as low as $16.465 and ended with a loss of 2.14%.

May 4: Gold and Silver Fall Almost 1% More

Gold fell $13.70 to $1225.80 in midmorning New York trade before it bounce back higher at times, but it still ended with a loss of 0.9%. Sliver slipped to as low as $16.228 and ended with a loss of 0.97%.

May 5: Gold and Silver Fall Roughly 3% and 5% on the Week

Gold gained $7.20 to $1235.50 at about 6AM EST before it fell back to $1226.20 in early afternoon New York trade, but it then bounced back higher in the last few hours of the day and ended with a gain of 0.08%. Silver rose to as high as $16.516 before it fell back $16.226, but it then rallied back higher in afternoon trade and ended with a gain of 0.43%.

Silver Market Morning: May 08 2017 - Gold bottoming and consolidating!

The Macron victory implies that the E.U. will hold together in the future and that the euro will not collapse. While Italy remains uncertain on the subject, it is not enough to curb the optimism that pervades markets this morning. What is uncertain is the ability of the President, without a political party behind him, to govern effectively. Will he try to rule by government decree? We will have to wait until mid-June and the Parliamentary elections to see if he can establish a majority and govern, or if he will simply become a figurehead.

May 8: Gold and Silver End Slightly Lower In Mixed Trade

Gold gained $7.20 to $1236.50 in London before it fell back to $1226.20 in early afternoon 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 $16.24 and ended with a loss of 0.61%.

Silver Investment Case Remains Extremely Compelling

Are we near a turning point in silver’s relentless decline? Avert your eyes – this is one ugly silver chart Gold silver ratio at 75 shows real value of silver Mining CEO explains why silver could reach $136.67 Buy silver low, sell high

May 9: Gold and Silver Fall Again

Gold fell $12.90 to $1214.30 in midafternoon New York trade, but it then jumped back higher into the close and ended with a loss of just 0.6%. Silver slipped to as low as $16.061 and ended with a loss of 0.8%.

Golden Arrow teams up with Silver Standard in Argentina

Golden Arrow Resources (TSXV: GRG; US-OTC: GARWF) has jumped from an explorer to a silver producer in Argentina in a fairytale-esque way. It will receive a 25% stake in Silver Standard Resources’ (TSX: SSO; NASDAQ: SSRI) producing Pirquitas mine, take home a US$15-million cheque and fast track production of its flagship Chinchillas project in a joint-venture deal, expected to close shortly.

May 10: Gold and Silver End Mixed While Oil Jumps

Gold chopped up to $1225.60 in London, but it then drifted back lower in New York and ended near its late session low of $1217.60 with a loss of 0.04%. Silver rose to as high as $16.339 and ended with a gain of 0.43%.

SilverCrest Reports Las Chispas Drill Results; Discovers Unmined High Grade Vein, Multiple Intercepts of +1,000 gpt AgEq*

SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce Phase II drill results within the Las Chispas Property ("Property") located in Sonora, Mexico. As part of the Company's ongoing Phase II exploration program, systematic grid drilling the Las Chispas Main Vein ("Main Vein"), comprised of infilling and expanding previous Phase I successful results, is ongoing.

May 11: Gold and Silver Gain With Oil

Gold gained $4.80 to $1224.10 in London before it fell back to almost unchanged at about 9AM EST, but it then rose to a new session high of $1227.50 in late morning trade and ended with a gain of 0.39%. Silver rose to as high as $16.388 and ended with a gain of 0.62%.

Silver Market Morning: May 12 2017 - Gold still consolidating with a stronger bias!

Demand for gold at the Akshaya Tritiya festival at the end of April was stronger than has been seen in the past confirming the problems with shortages of cash have dissipated. It is clear that Indian demand for gold is, once again, robust. Estimates for this year’s demand [because of positive forecasts for the monsoon as well] have gone as high as 1,000 tonnes. That’s official demand, excluding smuggled gold.

Market Report: A pause in the decline

Gold and silver found temporary bottoms this week, with gold little changed from last Friday’s close of $1229.4 at $1228 in early European trade this morning (Friday). Silver fared slightly better, rising from $16.34 to $16.45 over the same time scale. However, the recent fall in silver has been very dramatic, the price now only up 2.6% on the year, compared with gold, up 6.4%.

May 12: Gold and Silver End Near Unchanged on the Week but Miners Gain Roughly 6%

Gold gained $7.60 to $1231.70 at about 9AM EST before it drifted back lower in the next few hours, but it then bounced back higher into the close and ended with a gain of 0.31%. Silver rose to as high as $16.48 and ended with a gain of 0.74%.

Silver Demand Shows A Consumer In Trouble

Global demand for silver declined from 2015 to 2016 by 123 million ozs per numbers from the Silver Institute presented in an article on The Daily Coin yesterday. In fact, for the demand categories primarily driven by the consumer, demand plummeted 125 million ozs, or 15.3%. Industrial demand for silver increased slightly but this was because of the global expansion in the solar panel industry, primarily in India and China.

SilverCrest Metals Begins Trading on the OTCQX® Market

SilverCrest Metals Inc. (TSX-V: SIL | OTCQX: SVCMF) ("SilverCrest Metals" or the "Company") is pleased to announce it has qualified for trading on the OTCQX® Best Market, operated by OTC Markets Group, under its existing ticker symbol "SVCMF".

Golden Arrow Files Technical Report to Support Pre-Feasibility Study for the Chinchillas Project Joint Venture With Silver Standard

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF) ("Golden Arrow" or the "Company") is pleased to report that it has filed on SEDAR a Technical Report pursuant to Canadian Securities Administrators' National Instrument 43-101 "Standards of Disclosure for Mineral Projects" and Form 43-101F1 to present the results of a pre-feasibility study for the Chinchillas silver-lead-zinc joint-venture project with Silver Standard Resources Inc. ("Silver Standard"), as announced March 31, 2017.

Canary In The Silver Mine

Silver bugs may have been disappointed by the recent decline but this is a key accumulation area for investors who want to be part of the next big rally in a profitable way. Many analysts are frustrated with the performance of silver relative to gold. Those days of frustration will end as money velocity stages a dramatic reversal to the upside, but not before that happens.

Gold Seeker Closing Report: Gold and Silver Gain With Euro

Gold climbed to as high as $1239.00 in midafternoon New York trade before it dipped back lower into the close, but it still ended with a gain of 0.46%. Silver rose to as high as $16.85 and ended with a gain of 1.14%.

May 17: Gold Gains Almost 2% While Dow Drops Nearly 2%

Gold jumped $23.70 to $1260.20 in late morning New York trade before it edged back lower into midday, but it then popped up to a new session high of $1261.10 in the last minutes of trade and ended with a gain of 1.8%. Silver rose to as high as $17.031 and ended with a gain of 0.42%.

May 18: Gold and Silver Fall Roughly 1% While Stocks Rebound

Gold gained $6.10 $1264.80 in London, but it then drifted back lower in New York and ended near its late session low of $1246.60 with a loss of 0.78%. Silver slipped to as low as $16.442 and ended with a loss of 1.66%.

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.