• Gold: 1,525.51 -3.03
  • Silver: 17.37 -0.09
  • Euro: 1.113 -0.001
  • USDX: 97.649 -0.521
  • Oil: 53.98 -1.38

What About Silver?

1 day 9 hours ago

I would like to take an in-depth look at Sliver and show you the bottoming process that finally came to an end in late May of this year. There is no question that silver as been the laggard when it comes to the PM complex similar to what we saw back in the early 2000’s when gold led the way for the rest of the PM complex. Silver eventually caught fire and actually topped out in April of 2011 a full five months before gold and the PM stock indexes. If you’ve been trading silver for any length of time then you know when it moves it can make up lost ground in a hurry. Since the early 2016 low SLV has been trying to bottom around the 13 area. Every time it would find support and rally higher SLV could never maintain its impulse move higher. Below is a one year daily chart for SLV which shows a small double bottom that formed late last year and after reaching the double bottom price objective at 15.00 the price action declined once again toward the bottom of the previous lows. This time however SLV was able to find its low slightly above its 2018 double bottom low forming the blue bullish falling wedge.

Silver Market Update

Gold And Silver Seasonal Trends

Where Is Silver Going?

September 20: Gold and Silver Gain Again

Gold dipped $2.10 to $1201.40 in Asia before it climbed up to $1208.40 by a little after 10AM EST and then fell back under unchanged by midday, but it then rallied back higher into the close and ended with a gain of 0.32%. Silver dipped to as low as $14.181 in Asia, but it then chopped back higher for most of the rest of trade and ended with a gain of 0.49%.

September 21: Gold and Silver Find Modest Gains on the Week

Gold gained $3.70 to $1211.00 in Asia before it crashed down to $1192.00 in early New York trade and then chopped back higher into the close, but it still ended with a loss of 0.69%. Silver slipped to as low as $14.155 and ended with a loss of just 0.07%.

September 28: Gold Dips While Silver Rises on the Week

Gold dropped $3.40 to $1180.90 in Asia, but it then jumped up to as high as $1193.60 by late morning in New York and ended with a gain of 0.62%. Silver surged to as high as $14.714 and ended with a gain of 2.52%.

October 1: Gold and Silver Edge Lower

Gold dropped $7.10 to $1184.60 in Asia before it to jumped up to $1192.10 in London and then fell back off into midmorning in New York, but it then bounced back higher into the close and ended with a loss of just 0.18%. Silver slipped to as low as $14.379 and ended with a loss of 0.89%.

Silver: Canary In An Inflationary Coal Mine

Inflation enthusiasts should consider adding some silver bullion to their investing “repertoire”. On this gold versus silver ratio chart the 75 area and higher has been a great place to sell gold and buy silver and the 50 area has been an equally great time to sell silver and buy gold. Significant wealth can be accumulated with this strategy. What’s particularly exciting now is that some major bank analysts are recommending this trade.

Gold Seeker Closing Report: Gold and Silver Gain Over 1%

Gold saw modest gains in Asia before it dipped back to $1189.20 in London, but it then jumped to as high as $1208.30 in late morning New York trade and ended with a gain of 1.14%. Silver rose to as high as $14.908 and ended with a gain of 1.24%.

October 3: Gold and Silver Edge Back Lower

Gold saw slight gains in Asia and chopped near unchanged in London before it dropped down to $1197.00 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.39%. Silver slipped to as low as $14.622 and ended with a loss of 0.14%.

October 4: Gold and Silver Close Mixed

Gold saw slight losses in Asia and held near unchanged in London before it climbed to as high as $1206.70 by late morning in New York and then fell back to $1197.10 by midafternoon, but it then bounced back higher into the close and ended with a gain of 0.07%. Silver rose to as high as $14.765 and ended with a loss of 0.48%.

October 5: Gold and Silver Gain With Dollar and Oil on the Week While Stocks and Bonds Fall

Gold dipped $2 to $1197.30 in Asia before it climbed up to $1205.80 at about 10AM EST and then drifted back lower into midday, but it then edged back higher in late trade and ended with a gain of 0.32%. Silver chopped between $14.516 and $14.712 and ended with a gain of 0.34%.

October 8: Gold and Silver Fall but Miners Bounce Back to Gains

Gold fell $19.40 to $1183.70 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 1.18%. Silver slipped to as low as $14.269 and ended with a loss of 1.64%.

October 9: Gold and Silver Edge Higher

Gold edged up to $1191.80 in Asia before it dropped back to $1183.50 at about 9:45AM EST, but it then chopped back higher into the close and ended with a gain of 0.1%. Silver sloshed between $14.436 and $14.269 and ended with a gain of 0.07%.

October 10: Gold and Miners Gain While Stocks Plummet

Gold dipped $4.60 to $1185.50 at about 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended near its last-minute high of $1193.60 with a gain of 0.25%. Silver dipped to $14.247 before it also bounced back into the close, but it still ended with a loss of 0.69%.

October 11: Gold and Silver Jump 2% Higher While Stocks Fall Further

Gold held near unchanged for most of the day in Asia, but it then began a steady advance in London, accelerated higher in New York, and ended near its late session high of $1226.10 with a gain of 2.48%. Silver surged to as high as $14.621 and ended with a gain of 1.75%.

October 12: Gold Gains Over 1% on the Week While Stocks Drop 4%

Gold dipped $6.80 to $1215.90 in Asia before it climbed up to $1223.30 in London and then drifted back lower in morning New York trade, but it ended with a loss of just 0.38%. Silver chopped between $14.525 and $14.702 and ended with a gain of 0.41%.

October 15: Gold and Silver Gain While Stocks Drop Again

Gold gained $15.30 to $1233.30 in Asia before it chopped back lower in London and New York, but it still ended with a gain of 0.61%. Silver rose to as high as $14.773 and ended with a gain of 0.55%.

October 16: Gold and Silver Close Slightly Lower

Gold gained $7 to $1232.40 at about 9:30AM EST, but it then drifted back lower for most of the rest of trade and ended with a loss of 0.04%. Silver rose to as high as $14.845 and ended with a loss of 0.2%.

October 17: Gold and Silver Edge Lower Again

Gold dipped $4.20 to $1220.70 in Asia before it climbed up to $1229.50 by late morning in New York, but it then fell back off into the close and ended with a loss of 0.09%. Silver slipped to as low as $14.597 and ended with a loss of 0.2%.

October 18: Gold Gains While Stocks Fall Markedly

Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and ended not far from its early afternoon high of $1230.10 with a gain of 0.11%. Silver slipped to $14.455 before it climbed to as high as $14.651 by late morning in New York, but it then drifted back lower in afternoon trade and ended with a loss of 0.41%.

October 19: Gold and Silver Find Slight Gains on the Week

Gold dropped $1.90 to $1223.20 in Asia before it climbed up to $1230.50 by a little after 8AM EST, but it then drifted back lower into the close and ended with a gain of just 0.11%. Silver dipped to $14.559 before it rose to as high as $14.715 and then also fell back off, but it still ended with a gain of 0.41%.

October 22: Gold and Silver Edge Lower

Gold saw slight gains in Asia before it drifted down to $1220.50 by midmorning in New York and then bounced back higher into the close, but it still ended with a loss of 0.29%. Silver slipped to as low as $14.519 and ended with a loss of 0.41%.

October 23: Gold and Silver Gain While Stocks Shake

Gold gained $16.70 to $1239.50 just after 8AM EST before it chopped back lower in New York, but it still ended with a gain of 0.6%. Silver rose to as high as $14.806 and ended with a gain of 1.1%.

October 24: Gold Gains While Stocks Plummet

Gold gained $3.20 to $1233.30 in Asia before it dropped back to $1225.70 by a little after 8AM EST and then bounced back to gains by midmorning in New York ahead of a fall back to $1227.40 by early afternoon, but it then jumped higher into the close and ended with a gain of 0.2%. Silver slipped to as low as $14.653 and ended with a loss of 0.41%.

October 25: Gold and Silver Dip While Stocks Bounce Back

Gold gained $6.50 to $1239.10 in Asia before it dropped back to $1230.40 at about 4AM EST and then bounced back to gains in early New York trade, but it then drifted back lower into the close and ended with a loss of 0.19%. Silver slipped to as low as $14.605 and ended with a loss of 0.34%.

October 26: Gold and Silver Gain on the Week While Stocks Drop Nearly 4%

Gold gained $8.30 to $1238.60 in Asia before it dropped back towards unchanged in London, but it then shot up to as high as $1243.40 in late morning New York trade and ended with a gain of 0.3%. Silver waffled between $14.734 and $14.576 in Asia and London, but it then rose to as high as $14.766 in New York and ended with a gain of 0.55%.

October 29: Gold and Silver Fall with Stocks

Gold dropped $6.30 to $1227.70 in London and spiked down to $1224.50 in early afternoon New York trade, but it then rallied back higher into the close and ended with a loss of just 0.4%. Silver slipped to as low as $14.417 before it also bounced higher, but it still ended with a loss of 1.7%.

Gold to Silver Ratio: So What?

Silver prices move up and down farther than gold prices. That pushes the gold-silver ratio too high, like now, when silver is inexpensive. Or it pushes the ratio too low, as in January 1980, when silver prices zoomed upward too far and too fast. When the gold to silver ratio exceeds 80, it is often a good time to buy silver.

January 2: Gold and Silver End Higher in Mixed Trade

Gold gained $6.50 to $1288.70 in late Asian trade before it dropped back under unchanged at $1278.90 by early afternoon in New York, but it then bounced back higher into the close and ended with a gain of 0.06%. Silver rose to as high as $15.607 and ended with a gain of 0.26%.

January 3: Gold and Silver Gain About 1% While Stocks Drop Roughly 3%

Gold gained $9.30 to $1292.30 in Asia before it dropped back to $1284.80 just after 8:15AM EST, but it then climbed back higher in New York and ended near its new 6-1/2 month high of $1294.70 with a gain of 0.9%. Silver rose to as high as $15.751 and ended with a gain of 1.42%.

January 4: Gold Gains and Silver Rises 2% on the Week

Gold edged up to $1298.40 in Asia before it fell back to $1277.30 by midmorning in New York and then bounced back higher into midday, but it still ended with a loss of 0.75%. Silver slipped to as low as $15.585 and ended with a loss of 0.32%.

Surest Way to Overthrow Capitalism

As the price of silver rose over 2% this week, the cobasis basically held steady. There is some buying of metal here, and some speculation too. This is not exactly the picture of a feeding frenzy, with an outlook of silver-to-da-moon. But nor is it a sign of a speculative blip, with a prognosis of a crash. The Monetary Metals Silver Fundamental Price rose 12 cents, to $15.91. This week, of course, the stock market went up. Does the incredible bull market roar back to life? We are not stock market prognosticators, but we don’t think so if the Fed stays the course. As we’ve written, the discount on future earnings is higher now and therefore the present value is lower. Also, the interest expense is up and this will crush the marginal debtors.

What’s the best speculative asset for 2019: silver or Bitcoin?

Silver is a somewhat comparable speculative alternative to Bitcoin. It has been used as money since the dawn of civilisation, albeit as monetary metal not computer code. In recent years silver has become more of a speculative asset than a currency, although it is also a very useful industrial metal. It’s vital for smartphones and other electronic products.

Silver: A Long Term Perspective

Lets start with a 16 year monthly chart for silver which seems like a long time but in the big picture it only shows us a small part of its history. The dominate chart pattern is the 2011 bear market downtrend channel which is almost perfectly parallel. I purposely left the top rail of the 2011 downtrend channel and the top rail of the 2016 triangle thin so you can see the critical area silver is now trading at, red circle. So far this month silver has traded as high as 15.95 which puts it right against the top rail of the 2011 bear market downtrend channel and the top rail of the 2016 triangle.

Big Silver Move Foreshadowed as Industrial Panic Looms

David Jensen Explains the Recent Fireworks in Palladium & Why It Matters...

January 15: Gold and Silver End Slightly Lower in Mixed Trade

Gold dipped $4 to $1287.60 at about 5AM EST before it rose to as high as $1294.70 by midmorning in New York and then fell to a new session low of $1286.90 by early afternoon, but it then rallied back higher into the close and ended with a loss of just 0.19%. Silver chopped between $15.542 and $15.694 and ended with a loss of 0.38%.

Silver – 1993 and 2001 Repeat

The M2 measure of money supply has increased about 6.7% per year since 1971 when President Nixon severed the last hint of gold backing the dollar. The subsequent deluge of digital dollars levitated prices for oil, trucks, hamburgers, the S&P 500 Index, silver and almost everything else. Examine the log scale graph of M2 and smoothed silver prices. M2 rises, while silver prices increase to unsustainable levels, fall too low and then rise again.

Precious metals marketplace OneGold extends a rare offer of Gold and Silver at spot price

­­New, cutting-edge technologies often come at a high cost, but not this time. OneGold is extending an unprecedented offer of gold and silver at spot price for three months to help new buyers enjoy the financial benefits of owning precious metals. With a time-saving interface backed by the security of blockchain technology, investors can add gold and silver assets to their portfolios at a cost lower than that of traditional physical metals.

January 16: Gold and Silver Rise with Stocks

Gold edged up to $1292.70 in Asia before it pared back to $1288.00 in London, but it then climbed to a new 6-month high at $1294.90 in New York and ended with a gain of 0.32%. Silver chopped between $15.494 and $15.642 and ended with a gain of 0.13%.

Wyoming Legislators Want State to De-Risk Investments by Holding Gold and Silver

A group of Wyoming legislators have introduced three bills this week to de-risk the state’s financial holdings with modest allocations to physical gold and silver in the state’s pension fund, reserve fund, and mineral trust fund.

Silver: Back In Focus

Silver is coming back into focus as the charts show a bit of upward movement with price action and potential brewing for some chart breakouts. This post starts with a look at the charts of Silver spot metal and then some popular US silver-based stoks / ETFs. With all of these charts, I'm on the lookout for any momentum-based trend line breakout (meaning an uptick over 20 for the ADX and +DMI) along with a move back above the weekly Cloud and on a volume spike.

January 17: Gold and Silver Edge Lower While Stocks Rise on Trade Talk

Gold chopped between $1291.40 and $1295.00 in Asia before it dipped to $1288.90 by midmorning in New York, but it then bounced back higher into the close and ended with a loss of just 0.12%. Silver slipped to as low as $15.457 and ended with a loss of 0.38%.

January 18: Gold and Silver Fall Almost 1% and 2% on the Week

Gold fell $10.50 to $1281.30 at about 8:30AM EST before it chopped back higher in morning New York trade, but it then fell back off gain in late trade and ended with a loss of 0.86%. Silver slipped to as low as $15.327 and ended with a loss of 1.29%.

Arizona Legislator Proposes Securing State Reserves with Gold and Silver

An Arizona legislator has put forward a bill to de-risk the state’s financial holdings with a modest allocation to physical gold and silver in the state’s reserve fund. Introduced by Representative Mark Finchem (R-Tucson), the Arizona Sound Money Stabilization Act (HB 2500) requires that at least 10% of Arizona’s Budget Stabilization Fund be held in the monetary metals in a secure depository.

January 22: Gold Gains While Stocks Drop

Gold dipped $3.80 to $1276.90 in holiday thinned trade yesterday before it bounced back to $1284.90 in Asia today and then dropped back under unchanged in late morning New York action, but it then climbed to a new session high of $1285.40 near the close and ended with a gain of 0.3%. Silver rose to as high as $15.348 and ended unchanged on the day.

January 23: Gold and Silver Close Mixed with Stocks

Gold edged up to $1286.50 in Asia before it dropped back to $1278.70 in early New York trade and then bounced back to gains by early afternoon, but it then drifted back lower into the close and ended with a loss of 0.12%. Silver chopped between $15.432 and $15.269 and ended with a gain of 0.2%.

New Pacific Reports First Results From 2018 Drill Program at Silver Sand, Bolivia

The drilling program commenced in mid-October 2017. A total of 55,010 metres in 195 HQ size diamond core drill holes had been completed by mid-December 2018. The drill program covers an area of approximately 1,600 m long in the north-south direction and up to 800 m wide in the east-west direction. The holes were drilled along northeast 60 degree oriented sections with a 50 m spacing between the sections. Most drill holes are drilled at dip angle of 45 degrees to penetrate the principal trend of the mineralized structure zones with an average hole length of approximately 285 m. To date, assay results of drill core samples of 98 holes have been received and analyzed, of which 94 holes intercepted silver mineralization.

Canadian Explorer Makes 'Significant Silver Discovery' in Bolivia

In a Jan. 22 research note, analyst Joe Reagor reported maiden drill results were "worth the wait" as they confirm a "significant silver discovery" at New Pacific Metals Corp.'s (NUAG:TSX.V; NUPMF:OTCQX) Silver Sand project in Bolivia. Of the first 98 holes reported from the company's 2018 drill program, 94 hit silver mineralization. "A conversion ratio of this magnitude is uncommon in the mining industry and thus further supports our view that the Silver Sand project is a unique opportunity," Reagor highlighted. Overall, the 94 holes intersected an estimated average of 58.3 meters (58.3m) of mineralization with an average grade of 83.8 grams per ton (83.8 g/t) silver. One highlight assay was 76.6m at a grade of 383 grams per ton silver.

New Pacific Announces the Appointment of Dr. Peter Megaw as a Technical Advisor to the Company

VANCOUVER, British Columbia, Feb. 04, 2019 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the appointment of Dr. Peter Megaw, Ph.D., C.P.G., as a technical advisor to the Company with the primary objective of providing strategic and technical advice to senior management. Dr. Megaw has a Ph.D. in geology from the University of Arizona and more than 35 years of relevant experience focused on silver and gold exploration. He has been instrumental in a number of mineral discoveries including MAG Silver's Juanicipio and Cinco de Mayo Properties, Excellon Resources' Platosa Mine, and new ore bodies at existing mines. He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. Dr. Megaw was also awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, Mexico.

Silver Market Trends - 2019 (The Silver Institute)

(Washington D.C. – February 5, 2019) Last year, the silver market faced a challenging environment which was reflected in a muted price performance. Preliminary estimates point towards a minor 0.3 percent increase in total supply whereas demand contracted 3 percent. A slowing Chinese economy, coupled with rising U.S. interest rates, an equity market bull run, and global trade tensions, affected the price performance across many markets, including gold and silver. This year, we expect the sentiment to be more supportive for the silver market. The start of 2019 has already proven to be good for silver investors. The U.S. Mint for example, sold 12 percent more American Eagles in January compared to January 2018. In addition, the expected slowdown in the U.S. FED rate hiking cycle should also benefit silver, which in comparison to gold, has a very attractive price point based on the high gold:silver ratio at around 82. Against this backdrop, the Silver Institute provides the following insights on 2019 silver market trends.

Congressman Demands CFTC Explain Its Failure to Find Silver Market Manipulation Where DOJ Did

A member of the U.S. House Financial Services Committee today pressed the Commodities Futures Trading Commission (CFTC) on its conspicuous failure to uncover the very silver market manipulation now being prosecuted by the U.S. Department of Justice. In a probing letter dated February 5 to CFTC Chairman J. Christopher Giancarlo, Rep. Alex X. Mooney (R-WV) writes:

New Pacific Reports High Recovery of Silver Achieved for Sulphides and Transitional Mineralized Materials from Silver Sand, Bolivia

VANCOUVER, British Columbia – February 7, 2019 – New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (the “Company”) is pleased to announce the preliminary results of the first metallurgical test work for its Silver Sand project in Potosi, Bolivia. Metallurgical sampling and test work commenced in September 2018 – the flotation recovery and bottle roll leaching test works for the transition and sulphide mineralized materials have been completed and test work on the oxides is under way. All tests, including column leaching test works, are expected to be completed by the end of April 2019. Positive recovery results have been achieved in the extraction of silver by the processes of flotation and direct cyanidation from the initial metallurgical test work.