• Gold: 1,276.15 -4.01
  • Silver: 16.98 -0.06
  • Euro: 1.176 -0.001
  • USDX: 93.864 0.163
  • Oil: 52.14 0.14

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

2 days 11 hours ago

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%.

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.

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-3-2017 -- still consolidating

New York closed at almost $14 higher than Shanghai’s yesterday’s close. In what we see as a striking testament to the power of Shanghai’s pricing dominance Shanghai moved slightly lower than its previous close with London following it at today’s open with $4.60 discount to Shanghai’s trading level today. With the gold world still looking at New York in the belief that the world will follow that market an understanding of the interrelationship of the three global gold markets is becoming paramount!

Silver Morning: August-1-2017 -- consolidating above support!

Comments from Alan Greenspan, that the equity market is not yet a ‘bubble’ but the bond market is, comes as a stark warning to financial markets. When it does ‘pop’ everyone will be hurt he says. When that happens, you will see equity and property prices badly damaged too. Gold will become a haven for U.S. investors then too. We reflect on the fact that at one time the euro cost $1.40.

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.

Abraplata closes $1.62-million private placement

Abraplata Resource Corp. has completed, on a non-brokered basis, an offering of 4,066,480 common shares of the company by way of a private placement at a price of 40 cents per share for total gross proceeds of $1,626,592. Proceeds from the private placement will be used for property exploration and working capital.

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.

Premier Zinc Stock at Great Entry Point

Zinc One Resources Inc. (Z:TSX.V; ZZZOF:OTC; RH33:FSE) is one of the best zinc companies around, but over the past six months its stock has suffered a heavy reaction following a steep run-up early in the year, as we can see on its 8-month chart below. Fundamentally this reaction was due to two factors. One was a falling zinc price, and the other was a major funding by the company.

Silver Morning: July-27-2017

The Fed decided not to raise rates, as expected but only said they would start lowering the Fed’s Balance Sheet, relatively soon. This disappointed markets including the global gold markets that are taking the gold price above previous resistance levels into the $1,260 region. But once again the biggest feature of the day was the softening dollar. It has confirmed it is in a ‘bear’ market and will decline over the next few years. More and more analysts including major institutions are now talking the dollar down, over the long term.

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.

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-24-2017

This is a structural change in the global gold market and allows a considerably greater influence of the physical gold market [primarily Shanghai] to impact the gold price and diminish the impact of the ‘paper gold markets of COMEX and the ‘paper’ side of the London gold market, across the world. We have highlighted in the Gold Forecaster newsletter of ours that while 90+% of gold-linked transactions go through London and COMEX over 90% of physical gold transactions go through Shanghai. With the impact of the arbitrageurs bringing global gold prices together, we will see, at last, the fundamentals of demand and supply impact the price.

5 Things I Look for in Exploration Companies

There is a decent number of executives in the junior industry that were part of or led a company to an acquisition. If they have done it before then they know what needs to be done in order to do it again. If management has not been involved in a transaction, check to see if they have discovered a deposit or expanded a resource through drilling. Also, seek out the executives that had ample experience at a major company.

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%.

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.

Golden Arrow Chairman's Update on Corporate Plans

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(WKN:A0B6XQ)(GARWF) ("Golden Arrow" or the "Company") - Subsequent to the formation of the joint venture with Silver Standard Resources Inc. (SSO.TO)(SSRI) ("Silver Standard"), which was announced on May 31, 2017, the joint venture, named Puna Operations Inc. ("POI"), has been formed to hold both the Chinchillas project and the Pirquitas project, which consists of the San Miguel open pit mine which ceased mining operations in January 2017 (the "Pirquitas Pit"), and the associated mineral processing facilities and tailings facility (the "Pirquitas Operation") in Argentina.

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%.

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%.

Silver Market Morning: July 19 2017 - Gold and silver markets continue to climb but the pace may slow!

New York closed $2.78 lower than Shanghai’s close yesterday, with London opening today at a discount to Shanghai’s trading today of $8.22, a slightly widening discount to Shanghai. But London is being pulled up by Shanghai. Chinese demand is sufficient to lift prices there, despite the slower rise in the gold price in London. This bodes well for more rises in London and New York.

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%.

Silver Market Morning: July 18 2017 - Gold and silver markets continue to climb!

New York closed $2 lower than Shanghai’s close yesterday, with London opening today at a discount to Shanghai’s trading today of $7.10, the same discount to Shanghai we saw yesterday. But London is being pulled up by Shanghai. Shanghai in turn was pulling back today from its high as the Yuan strengthened, bringing Shanghai’s gold price to the same differential as it had yesterday.

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%.

Silver Market Morning: July 17 2017 - Gold and silver markets are seeing a changed mood for the better!

Janet Yellen’s comments Friday were followed by the publication of the latest CPI numbers which showed that the belief that the poor data, issued on Friday, which led the Fed to say it was a temporary setback, looks like turning out to be more permanent. With this in mind and indeed if this proves to be so, we may not see another rate hike in 2017. Equity markets have not yet discounted this, but it is being reflected in the dollar’s exchange rate. Once it is factored in, we expect more ‘bubble’ rises in U.S. equities [albeit against better earnings results from the corporate sector] as the prospect of better yields in these markets, for much longer, attracts funds.

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%.

December 18: Gold and Silver Fall Almost 2%

Gold fell $36.70 to $1661.30 by early afternoon in New York before it rallied back higher in the last couple of hours of trade, but it still ended with a loss of 1.48%. Silver slumped to as low as $31.35 and ended with a loss of 1.77%.

December 26: Gold and Silver Gain With Oil

Gold climbed up to $1667.63 by about 9:15AM EST before it fell back off midday, but it still ended with a gain of 0.1%. Silver surged to $30.21 before it slipped back to $29.842 and then rallied back higher in early afternoon New York trade, but it then fell back off again in the last hour of trade and ended with a gain of just 0.23%.

January 16: Gold and Silver End Slightly Higher

Gold climbed $5.86 to $1684.76 in Asia before it fell back to $1673.59 at about 8AM EST, but it then rallied back higher in New York and ended with a gain of 0.06%. Silver rose to $31.46 in Asia before it fell back to $31.07 in London, but it then climbed to as high as $31.551 in New York and ended with a gain of 0.25%.

COMEX Silver Inventory Update: -257,806.020 ounces

COMEX Silver Inventory Update: -257,806.020 ounces

January 24: Gold and Silver Fall About 1% and 2%

Gold fell to as low as $1665.12 at about 10AM EST before it bounced back higher in the next hour of trade, but it then drifted back lower again into the close and ended with a loss of 1.06%. Silver slipped to as low as $31.60 and ended with a loss of 1.83%.

January 30: Gold and Silver Gain About 1% and 2%

Gold rose $6 to $1668.70 in Asia before it fell to see a slight loss at $1661.60 by a little after 8AM EST, but it then climbed to as high as $1683.50 just after today’s fed announcement and the yellow metal and ended with a gain of 0.83%. Silver slipped to as low as $31.24 by a little after 8AM EST, but it then shot to as high as $32.24 and ended with a gain of 2.01%.

Silver Market Morning

In New York the gold price fell back to $1,664.80 continuing to consolidate, yesterday. In Asia it slipped a little to $1,663 and traded around that level in London’s morning where it Fixed at $1,665.00 and in the euro at €1,217.996 down €17, while the euro was $1.3670. Ahead of New York’s opening, gold was $1,666.40 and in the euro at €1,220.71.

Do Silver and Platinum Have Higher Growth Potential Than Gold?

We at Sunshine Profits suggest holding three precious metals (in a physical form) as long-term investments in a “default” precious metals portfolio – gold, silver and platinum. There are, of course, other viable options, such as palladium, depending on one’s preferences and needs, but these three mentioned above will suit virtually any precious metals investor.

February 8: Gold and Silver End Mixed on the Week

Gold edged up to $1673.53 in Asia before it fell back to as low as $1665.14 in early New York trade, but it then bounced back higher at times and ended with a loss of just 0.19%. Silver slipped to $31.314 in early New York trade, but it then rose to as high as $31.68 at about 10:40AM EST and ended unchanged on the day.

February 12: Gold and Silver End Slightly Higher

Gold dropped $10.51 to $1639.19 by a little after 5AM EST, but it then rose to as high as $1653.30 in New York and ended with a gain of 0.11%. Silver slipped to $30.57 in London, but it then climbed to as high as $31.128 and ended with a gain of 0.42%.

Endeavour Silver's Development of Work Underway at El Cubo Plant

Endeavour Silver's Development of Work Underway at El Cubo Plant

First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko

First Majestic Silver Corp. (FR.TO)(AG)(FMV.F) ("First Majestic" or the "Company") announces that it has today notified the Board of Directors of Orko Silver Corp. that it is not matching the offer made by Coeur d''Alene Mines Corporation ("Coeur") and will not be increasing the consideration under First Majestic''s offer to acquire all of the issued and outstanding Orko shares.

February 19: Gold and Silver Fall Slightly

Gold climbed $5.85 to $1614.75 in Asia before it fell to as low as $1600.54 in early afternoon New York trade, but it then bounced back higher in the last four hours of trade and ended with a loss of just 0.25%. Silver slipped to as low as $29.22 before it also rebounded, but it still ended with a loss of 1.31%.

February 26: Gold and Silver Gain Over 1% More

Gold bumped up to $1601.89 in Asia before it fell to see a $10.26 loss at $1584.34 at about 10:15AM EST, but it then shot to as high as $1619.40 in the next hour of trade and ended with a gain of 1.21%. Silver surged to as high as $29.456 and ended with a gain of 1.19%.

March 5: Gold and Silver End Slightly Higher

Gold climbed up to $1586.04 at about 8:30AM EST before it fell back to $1571.75 over the next five hours, but it then bounced back higher in afternoon trade and ended with a gain of 0.08%. Silver surged to as high as $29.065 before it fell back to $28.513, but it still ended with a gain of 0.42%.

March 6: Gold and Silver Rise, Miners Jump Higher

Gold dropped to $1567.40 at about 9:45AM EST before it rebounded to $1584.58 in the next hour of trade and then fell back to about unchanged by early afternoon in New York, but it then rallied back higher in the last few hours of trade and ended with a gain of 0.53%. Silver slipped to $28.54 before it jumped up to $29.067 and then also fell back off, but it still ended with a gain of 1.33%.

March 12: Gold and Silver Gain Almost 1%

Gold held near unchanged in Asia, but it then jumped higher at about 7AM EST and ended near its late morning New York high of $1598.21 with a gain of 0.77%. Silver surged to as high as $29.35 and ended with a gain of 0.59%.

April 1: Gold Edges Up While Silver Slips

Gold chopped around in a tight range of $1595.00 to $1600.90 in lackluster post-holiday trade and ended with a gain of 0.06%. Silver slipped to as low as $27.87 and ended with a loss of 1.44%.

COMEX Silver Inventory Update: -978,339.568 ounces

COMEX Silver Inventory Update: -978,339.568 ounces

Silver Market Morning

Gold continued to move higher, closing at $1,388 in New York yesterday. In Asia and London it pushed through $1,400 to $1,411 ahead of the Fix. The Fix was set at $1,414 up $17 and in the euro at €1,080.462 up €10 while the euro was at €1: $1.3087. Ahead of New York’s opening it began to slip at $1,411.55 and in the euro at €1,078.59.

iShares Silver Trust Subtracts 21.11 Tonnes

iShares Silver Trust Subtracts 21.11 Tonnes

COMEX Silver Inventory Update: -384,165.450 ounces

COMEX Silver Inventory Update: -384,165.450 ounces

May 8: Gold Gains Over 1% While Silver Slips

Gold saw a slight loss at $1450.14 at about 6AM EST before it jumped up to $1469.90 by a little after 8AM EST and then drifted back off into midday, but it then jumped to a new session high of $1476.30 in early afternoon New York trade and ended with a gain of 1.42%. Silver dropped to $23.73 before it jumped up to $24.08 and then fell back off to $23.67, but it then climbed back to as high as of $24.00 in early afternoon New York trade and ended with a loss of just 0.08%.

Is Silver Currently Riskier Than Gold?

Summing up, even though the fundamental picture for silver and the long-term case are bullish, the technical situation for silver is quite bearish at this time and its medium-term picture is more bearish than gold’s.

iShares Silver Trust: -33.18 tonnes

iShares Silver Trust: -33.18 tonnes

Silver Market Morning

Gold closed in New York at $1,583.90 on Friday. London opened $11 down as the euro fell again on more fear. London’s morning Fix today was set at $1,571.50 and in the euro at €1,298.117, while the euro stood at €1: $1.2105 down nearly 1.5 cents on the dollar. Ahead of New York’s opening gold stood at $1,572 in the middle and in the euro at €1,297.03.

Silver ETFs Stealing Miners Thunder

David Morgan, founder of Silver-Investor.com, says ETFs are stealing mining stocks investor base, but beaten down miners like Silver Wheaton are now the market's best bet.

iShares Silver Trust: 9,708.77 tonnes

iShares Silver Trust: 9,708.77 tonnes

Arian Silver Signs Letter of Intent with 500tpd Mill Operator

Arian Silver Corporation (the "Company" or "Arian") (AGQ.V)(AGQ.L)(I3A.F), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report that the Company has signed a letter of intent, which reflects the Company's intention to sign a definitive contract for exclusive use of a newly refurbished and soon to be re-commissioned 500 ton per day ("tpd") toll mill. This mill, which is located on the outskirts of the City of Zacatecas, is currently expected to be operational within ten to twelve weeks.

COMEX Silver Inventory Update: +168,218.010 ounces

COMEX Silver Inventory Update: +168,218.010 ounces

Silver Sector Shrinking

It has been a while since we had this nagging feeling that we’re witnessing something profound taking place before our eyes and the market doesn’t seem to grasp it yet. We are not talking about the smorgasbord of events effecting markets all over the globe that is receiving ample coverage elsewhere in the media. As readers might know, our particular interest is in the silver space, and that is where we see an elephant in the room that hasn’t made headlines yet.

I Stand By $140 Silver In 2012

Pyrrhic Victory

This weekend, the much-hyped Greek elections occurred, with TPTB attempting to convince the world that a Syriza win would be catastrophic, and a New Democracy win “blissful.” Of course, neither situation is any different, other than that the timing of the ultimate Greek departure from the Euro currency mechanism. The MSM desperately wanted to bully stocks higher - and gold lower – to “celebrate” this Pyrrhic victory, but the markets are not co-operating, major equity indices flat and downtrodden PIIGS like Italy and Spain seeing their stocks AND bonds torched.

Commodities On Fire

Commodities markets ON FIRE this morning, led by oil, up another 4.5%. All base metals up 3%-4%, as well as silver, up 3.1% at 11:30 AM EST. Gold capped as usual at just a 1.5% gain, but pushing toward the top of its multi-month trading range of $1,550-$1,650, and on the verge of making a run toward its ALL-TIME HIGH in Euros. I’m not a big fan of short-term charts, but the long-term, ELEVEN MONTH, bullish “pennant” formation in Euro gold is a site to see, with MASSIVE upside potential when broken to the upside.

Lawrence Roulston on Santacruz Silver Mining Ltd.

Santacruz is less than six months from the start of production on its first Mexican silver mine. Two other advanced-stage projects are also on track for near-term production, supporting a production target of 5 million ounces per year within 3 to 4 years.

August 2: Gold and Silver End Modestly Lower

Gold climbed almost 1% to $1615.05 by a little after 8AM EST, but it then fell to as low as $1584.97 by early afternoon in New York and ended with a loss of 0.66%. Silver slumped to as low as $26.97 and ended with a loss of 0.91%.

SilverCrest Reports Q2, 2012 Financial Results

“We had a strong second quarter of 2012. We sold 637,050 silver equivalent ounces (2), for gross revenues of $16.0 million, with an average cash operating cost of $6.94 per silver equivalent ounce. The Santa Elena low cost, open pit heap leach mine operations continue to perform well and generated cash flows of $7.2 million which will contribute to the financing of the Santa Elena Expansion plan and the development of our major polymetallic La Joya Project. Q2, 2012, production was consistent with our budget and cash operating costs were below our budget of $8.20 per silver equivalent ounce. As a result, we are confident in meeting or exceeding our 2012 production guidance of 435,000 silver ounces and 33,000 gold ounces."

COMEX Silver Inventory Update: -55,338.220 ounces

COMEX Silver Inventory Update: -55,338.220 ounces

Silver: Supply and Demand

Ever wonder how supply and demand affects the price of silver? It's not as simple as you may think. This educational video explores the economics of silver and its various uses for industrial demand.

iShares Silver Trust: 9,687.66 tonnes

iShares Silver Trust: 9,687.66 tonnes

Silver Sales Up As Supply Slips

Silver's Fall

We are seeing macro funds buying the gold market and the Silver Trust shares, while other investors are selling to cover their losses in other markets.Silver demand remains vibrant in China and [as a 'needed' metal [in pharmaceuticals and electronics. We do not see that changing! But silver is moving as a monetary metal alongside gold, even though at institutional level it is not considered a monetary metal. We expect this to continue.