• Gold: 1,257.24 2.18
  • Silver: 17.03 0.19
  • Euro: 1.124 0.004
  • USDX: 96.941 -0.201
  • Oil: 51.07 0.22

Silver Market Morning: May 22 2017 - Gold continues consolidating in a narrowing range ahead of a strong move!

10 min 29 sec ago

Today’s gold price is all about a weaker dollar. But the dollar is barely changed against the Chinese Yuan. The dollar took a hammering over the weekend falling to lows on the index that we have not seen for a long time. If the dollar continues to fall, as we expect, the dollar gold price will look strong. Technically, we see higher gold prices, but are keeping our eyes on overhead resistance to see if we can expect a breakout.

Silver Market Morning: Feb 17 2017 - Gold is looking firm in all currencies!

Shanghai was trading at 275.90 Yuan towards the close today. This equates to $1,249.96, but allowing for the different quality of gold being traded [.9999 fineness] it stands at $1,244.96. Shanghai continues to lead the way over New York by $5 and $3 over London. With Capital Controls over Yuan outflows reducing turnover volumes in its currency we are watching the classic central bank battles against moves in a currency. We have yet to see a central bank win the battle over controlling an exchange rate.

February 16: Gold and Silver Gain As Dollar Drops

Gold gained $9.50 to $1242.10 in late morning New York trade before it drifted back lower in afternoon trade, but it still ended with a gain of 0.54%. Silver rose to as high as $18.126 and ended with a gain of 0.61%.

Silver Market Morning: Feb 16 2017 - Gold stronger in all currencies!

The dollar rises seen in the last few days, are largely due to speculative, emotional, positioning punting a bullish picture for the dollar. Yes, the superficial view of the factors pointing to a strong dollar, such as higher interest rate differentials coming, more potential dynamic growth and potential cash inflows from repatriated funds look positive for the dollar. But we cannot ignore the desire of the Fed and Treasury to see a weaker dollar for the sake of U.S. international trade.

February 15: Gold and Silver Erase Early Losses and End Higher

Gold fell $10 to $1217.40 by a little after 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.42%. Silver slipped to as low as $17.76 before it jumped back to $17.982 and then chopped back lower at times, but it still ended with a gain of 0.17%.

Remembering the Genius of Hunter S. Thompson

Precious metals expert Michael Ballanger ponders the timelessness of Hunter S. Thompson's "blistering attacks on the status quo" and their applicability to today's political landscape. He also reminds us of the "incredibly bullish" fundamentals for silver and lays out the evidence for why this precious metal is on its way to $25/ounce by mid-year.

Silver Market Morning: Feb 15 2017 - Gold not moving except to adjust to exchange rates!

Shanghai was trading at 273.34 Yuan towards the close today. This equates to $1,238.40, but allowing for the different quality of gold being traded [.9999 fineness] and on today’s exchange rate, to align it with New York and London prices it equates to $1,233.41. LBMA price setting: The LBMA gold price was set today at $1,225.15 down from yesterday’s $1,229.65.

February 14: Gold and Silver Edge Higher In Mixed Trade

Gold gained $8.50 to $1234.40 by a little after 8AM EST before it dropped back to $1222.00 in late morning trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.12%. Silver jumped up to $18.072 before it fell back to $17.772, but it then rallied back higher into the close and ended with a gain of 0.67%.

Another Unique Blow-Off Factor

The world’s foremost silver analyst Theodore Butler has done it again. He has elaborated another bullish factor so powerful it screams at us to buy silver. As you know, Mr. Butler is the supreme expert on futures trading in silver. The reason that this knowledge is so important is because the COMEX is the primary place where silver prices are set. Forget about China, the dollar, the economy or whatever reason the media reports. Billion dollar banks, hedge funds and computerized trading monolith’s set the price on the COMEX.

Silver Market Morning: Feb 14 2017 - Gold consolidating but U.S. gold ETF investors buying big!

Today sees Shanghai closed today, removing the Shanghai influence on the gold price. In the Chinese vacuum, western gold markets are using the opportunity to pull gold prices lower on a day when the dollar is slightly stronger but not sufficient to make the gold price fall. Hence, we see today as a day when we could see bargain hunters.

February 13: Gold and Silver Fall While Stocks Climb To New Highs

Gold fell $14.60 to $1219.40 in late morning New York trade before it rallied back higher into the close, but it still ended with a loss of 0.66%. Silver slipped to as low as $17.759 and ended with a loss of 0.67%.

Silver Market Morning: Feb 13 2017 - Gold recovering but moving with the euro at the moment!

In Shanghai, after the return of those investors from their Lunar New Year, demand has yet to recover fully as they slip back into their usual routine and gain full momentum. Until then we do expect New York and London to stay in line with Shanghai and for the global gold price to be influenced by exchange rates. That is so today too, but we do expect the dollar to weaken.

February 10: Gold and Silver Gain About 1% and 3% on the Week

Gold fell $9.80 to $1221.70 in Asia before it climbed up to $1237.00 in early afternoon New York trade and then fell back off a bit, but it still ended with a gain of 0.2%. Silver slipped to as low as $17.555 before it rallied all of the way back to $17.996 and ended with a gain of 1.53%.

Silver Market Morning: Feb 10 2017 - A strong Dollar/Trump pulls gold lower!

We are all getting used to the new Presidential style with difficulty, but yesterday’ statements from the President that the U.S. is about to see a fantastic new Tax reformation incited markets in the U.S. to reach new record highs and gold took a knock of $5 by the close. He is still amazing the U.S., by the fact that he is sticking to his election promises.

NEW! Live 3-Day Silver Price Chart

Introducing our new live silver price chart: Last 3-Days Silver Price.

February 9: Gold and Silver Fall Almost 1% While Stocks Rise on Trump Talk

Gold waffled between $1243.70 and $1236.80 in London before it edged up to $1244.20 by a little before 10AM EST, but it then dropped to as low as $1230.40 in afternoon trade and ended with a loss of 0.73%. Silver slipped to as low as $17.619 and ended with a loss of 0.56%.

February 8: Gold and Silver Swing Back to Gains

Gold gained $11.80 to $1244.80 in midmorning New York trade before it drifted back lower in the next few hours, but it still ended with a gain of 0.61%. Silver rose to as high as $17.866 and ended with a gain of 0.34%.

Silver Market Morning: Feb 8 2017 - SPDR investors now include large hedge funds!

While U.S. based gold investors have returned to the gold market via the SPDR [GLD] gold ETF, we had not heard of any large gold investors returning until now. Today we have received reports that Drukenmiller, having exited the gold market in December, has returned to it.

February 7: Gold and Silver End Slightly Lower After Dollar Pop

Gold dropped $6.80 to $1227.90 by a little after 8AM EST before it bounced back to $1235.70 in early afternoon trade, but it then drifted back lower into the close and ended with a loss of 0.14%. Silver slipped to $17.559 before it rallied back to $17.788 and then also fell back off, but it ended with a loss of just 0.11%.

Silver Market Morning: Feb 7 2017 - Gold steady at higher levels with SPDR investors still buying!

What is now very clear is that if Marie le Pen and her party are elected, France will likely leave the E.U. Yesterday saw a plan to leave the E.U. produced by her party. It could involve a dual currency. Some have said that a dual currency never works. On the contrary dual currencies have pulled several nations out of a hole, including the U.K. in the early seventies. One currency for commercial transactions and another for capital.

February 6: Gold and Silver Gain Over 1% While Stocks and Oil Drop – Miners Shine

Gold gained $5.98 to $1224.98 in early Asian trade and rose to as high as $1230.08 in London before it pared back in midmorning New York trade, but it then rallied back higher again into the close and ended near its late session high of $1235.52 with a gain of 1.29%. Silver rose to as high as $17.748 and ended with a gain of 1.55%.

Silver Market Morning: Feb 6 2017 - Gold firm in ALL currencies rising from support!

Shanghai was trading in gold at 269.85 during today’s session before London opened. This equates to $1,223.06. For the first time in the last month all global gold markets appear in line. The reality is that Shanghai is lower due to the higher quality of gold it prices at $1,218.06. Therefore New York and London are higher than Shanghai. It’s the first time we have seen this, this year.

February 3: Gold and Silver Gain Roughly 2% on the Week

Gold fell $4.76 to $1210.54 at about 8AM EST before it shot to as high as $1221.29 by midmorning in New York and then fell back off at times, but it still ended with a gain of 0.3%. Silver rose to as high as $17.538 and ended with a loss of 0.06%.

Silver Market Morning: Feb 3 2017 - U.S. gold ETF buyers are back in force!

With Shanghai open today for the first time since last Thursday, we won’t have the two daily Fixes for today until tomorrow. Meanwhile, Shanghai was trading today at 269.80 towards the close today after their return from the big annual holiday. This equates to $1,222.71. This leaves it just $2 higher than the close in New York.

February 2: Gold Gains While Silver Slips Before Jobs Day

Gold gained $16.24 to $1225.34 by a little before 9AM EST before it drifted back lower for most of the rest of trade, but it still ended with a gain of 0.51%. Silver climbed up to $17.727 before it fell all of the way back to $17.411 and then bounced back higher in late trade, but it still ended with a loss of 0.34%.

February 1: Gold and Silver End Slightly Lower

Gold fell $13.90 to $1198.20 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.25%. Silver slipped to as low as $17.361 and ended with a loss of 0.11%.

First Majestic Reports First Quarter Financial Results

"After three years of aggressive capital spending to build and expand four of our silver operations, the Company is planning to take a short breather to focus on treasury growth and free cash flow. As the expansionary capital investments at both Del Toro and San Martin come to an end, we look forward to the increased production and improved efficiencies. We still have a lot of work ahead of us to accomplish our next goal of reaching 20 million ounces of production per year; however, given the low silver price environment focusing on further cost reductions and treasury growth continues to be management's top priority."

Silver Market Morning

The gold price closed at $1,293.30 down $3.40 on Tuesday, in New York. In Asia the price rose slightly, but London lifted it over $1,300 at the opening. The gold Fixing was set at $1,300.25 up $7.50 and in the euro at €948.326 up €8.418 while the euro stood at $1.3711 nearly half a cent weaker. Ahead of New York’s opening the gold price stood at $1,301.50 and in the euro at €948.89.

Silver Market Morning

The gold price closed at $1,306.10 up $12.80 on Wednesday, in New York. In Asia the price rose slightly, but London lifted it over $1,300 at the opening. The gold Fixing was set at $1,303.75 up $3.50 and in the euro at €953.731 up €5.405 while the euro stood at $1.3700 weaker again. Ahead of New York’s opening the gold price stood at $1,304.20 and in the euro at €955.00.

Market Report: Firmer tone for gold and silver

This week started with a severe markdown in gold and silver prices when markets opened in the Far East on Monday morning, taking gold down $12 to $1278 and silver only 12 cents to $19.03. The clue in this was the resilience of silver, which hardly moved: it was an attack on the gold price presumably designed to take out stop-losses.

Silver Market Morning

The gold price closed at $1,293.1 down $2.50 on Monday, in New York. In Asia the price dropped to $1,291 ahead of London’s opening, where London held it. The gold Fixing was set at $1,291.50 down $9.50 and in the euro at €943.458 down €5.208 while the euro stood at $1.3689. Ahead of New York’s opening the gold price stood at $1,293.00 and in the euro at €943.45.

The Mises View: "Silver Money and Inflation"

Mark Thornton explains how silver money keeps inflation in check. Thornton is a Senior Fellow at the Mises Institute.

Silver Market Morning: May 30, 2014

There are reports out there that say that there is a gold deficit of around 4.35 tonnes a week, meaning that more gold is being bought than produced. That’s why the SPDR sales are important if the gold price is to be held at current levels. This makes the fall this week even more difficult to understand. The lack of visible physical sales of gold from speculators and the investors, tells us that there is very little momentum behind the downward path of gold and it can turn around in a heartbeat. We therefore attribute the fall to a temporary drop in demand due to wholesalers looking for lower prices. But they can only do this for a short while.

Silver Market Morning

The gold price closed at $1,246.30 on Tuesday, up $3.20 cents in New York. In Asia and London the price slipped slightly by $1 until the Fix, where it was set at $1,246.00 up $1.75 and in the euro at €915.840 up €1.421, while the euro stood at $1.3605. Ahead of the opening in New York the gold price was trading at $1,246.00 and in the euro at €915.27.

First Majestic Wins Application to Dismiss Appeal

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce that on June 5, 2014 , the Court of Appeal dismissed the appeal filed by Hector Davila Santos ("Hector Santos") and Minerales y Minas Mexicanas, S.A. de C.V. ("MMM").

June 9: Gold and Silver End Slightly Higher

Gold edged up to $1256.97 by a little after 8AM EST before it fell back to $1252.30 in the next four hours of trade and then bounced back higher in early afternoon trade, but it then chopped back lower into the close and ended with a gain of just 0.03%. Silver surged to as high as $19.197 before it also fell back off, but it still ended with a gain of 0.26%.

Silver Market Morning

The gold price closed at $1,261.00 up $0.20 on Wednesday in New York. In Asia and London the price held at that level until the Fix, where it was set at $1,261.75 down $0.75 and in the euro at €932.902 up €0.273, while the euro stood weaker at $1.3525. Ahead of the opening in New York the gold price was trading at $1,264.20 and in the euro at €934.92.

Like in “Lost” manipulators keep pushing the button

In the classic TV drama “Lost,” certain occupants of the mysterious island were tasked with the job of punching a sequence of numbers into a computer every 108 minutes to avert an unknown catastrophe.

London Metal Exchange says can offer three solutions to silver fix

The London Metal Exchange (LME), which is competing to offer an alternative to the silver fix when the system is disbanded in August, said on Monday it could offer three different solutions.

Silver Market Morning: June 20, 2014

In 1973 the oil price jumped from $8 a barrel to $35 a barrel while gold jumped from $42 an ounce to over $120 an ounce. We do not see a direct link over the years between the two. What we do see is a moving up together in times of, not only political crisis, but monetary crisis. In those days the dollar was suspect and continued so until Volker forced interest rates up to 26% in the mid 1980’. We are moving back into days of tremendous uncertainty as the ripples from the sectarian violence spread through the financial markets of the world.

Excellon resumes drilling at La Platosa

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report the resumption of diamond drilling at its 100%-owned La Platosa Mine located in Durango State, Mexico.

Silver Market Morning

The gold price closed at $1,319.60 down $7.30 Thursday in New York. In Asia prices rose to $1,321 ahead of the London Fix which was set at $1,321.50 down $1.00 and in the euro at €972.335 up €3.754, while the euro was weaker at $1.3591 down over half a cent. Thereafter, gold held at roughly the same level being moved by dealers and arbitrageurs in line with the $: € exchange rate, clearly unimpressed by the success of the American Revolution.

July 7: Gold and Silver End Near Unchanged

Gold dropped $7.27 to $1312.33 at about 10AM EST, but it then rallied back higher for most of the rest of trade and ended unchanged on the day. Silver slipped to as low as $20.844 and ended with a loss of 0.52%.

July 14: Gold and Silver Fall Over 2%

Gold dropped $34.39 to $1303.31 at about 9:30AM EST before it stabilized, but it still ended with a loss of 2.32%. Silver slipped to as low as $20.849 and ended with a loss of 2.38%.

Excellon reports second quarter 2014 production

TORONTO, July 16, 2014 /CNW/ - Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce second quarter 2014 production results from the La Platosa Mine in Durango, Mexico.

July 17: Gold and Silver Gain Almost 2%

Gold gained almost $10 to $1308.21 in Asia before it fell back to $1299.65 in London, but it then jumped to as high as $1323.23 in New York and ended with a gain of 1.62%. Silver surged to as high as $21.18 and ended with a gain of 1.88%.

July 24: Gold and Silver Fall Almost 1% and 3%

Gold fell almost $10 to $1294.96 in Asia before it bounced back to $1300.83 in London, but it then fell to a new 5-week low of $1287.79 in New York and ended with a loss of 0.96%. Silver slipped to as low as $20.315 and ended with a loss of 2.63%.

One of the most blatant examples ever

This week has been one of the most blatant examples of naked PM shorting ever, amidst some of the most PM-bullish news ever. Particularly, yesterday's transparent attacks as TPTB pulled out all stops to push the 10-year Treasury yield above 2.5% couldn't be more obvious - as I forensically described in yesterday's AudioBlog, "best laid plans." And what a shock, Monday is COMEX options expiration day - when no doubt, countless $1,300 and $21 options for gold and silver, respectively, were outstanding.

Excellon Reports Second Quarter 2014 Financial Results

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report financial results for the three and six-month periods ended June 30, 2014.

July 30: Gold and Silver Close Mixed and Near Unchanged

Gold dropped $8.89 to $1291.71 just after this morning GDP announcement before it bounced back to $1303.12 and then fell back towards its earlier low by late morning in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.3%. Silver fell to as low as $20.45 at one point, but it then bounced back higher in the last five hours of trade and ended with a gain of 0.1%.

Silver Market Morning

The gold price closed at $1,296.80 down $3.80 on Wednesday in New York. In Asia and early London, prices fell to $1,294 as the euro continued to slip to $1.3391. The gold price was Fixed at $1,295.00 down $2.50 and in the euro at €966.923 down €1.505, while the euro was weaker at $1.3393. Ahead of New York’s opening, gold was trading at $1,295.10 and in the euro at €967.43.

July 18: Gold and Silver End Slightly Lower

Gold climbed to $1584.69 in Asia before it fell back to as low as $1567.62 by about 9AM EST, but it then climbed back to as high as $1582.53 in late morning New York trade and ended with a loss of just 0.28%. Silver rose to $27.30 before it dropped back to $26.90, but it then rose to a new session high of $27.31 and ended with a loss of just 0.07%.

COMEX Silver Inventory Update: -85,010.678 ounces

COMEX Silver Inventory Update: -85,010.678 ounces

Huldra Silver Provides Progress Update on Treasure Mountain and the Merritt Mill

Huldra Silver Inc. (HDA.V) (the "Company" or "Huldra") today provides a progress update on the mining operations at its 100% owned Treasure Mountain Property and an update on the construction of its 200 tonne per day mill in Merritt, BC.

Hecla makes hostile takeover bid for U.S. Silver Corp

Hecla Mining Co made an all-cash hostile bid to buy U.S. Silver Corp for C$110.7 million, a month after the Canadian company agreed to be bought by RX Gold & Silver Inc.

July 26: Gold and Silver Gain Almost 1%

Gold jumped to as high as $1621.37 before it fell back off a bit in New York, but it still ended with a gain of 0.69%. Silver surged to as high as $27.815 and ended with a gain of 0.55%.

COMEX Silver Inventory Update: +845,625.07 ounces

COMEX Silver Inventory Update: +845,625.07 ounces

U.S. Silver Board Recommends Rejection of Hecla Offer and Reaffirms Recommendation for Combination Transaction with RX Gold

U.S. Silver Corporation (USA.TO) ("U.S. Silver" or the "Company") announced that its Board of Directors unanimously recommends that U.S. Silver shareholders REJECT the unsolicited cash offer from Hecla Mining Company ("Hecla") to acquire all of the outstanding common shares of U.S. Silver (the "Hecla Offer").

Fed Signals More Steps to Spur Economy Amid Slower Growth

“Economic activity decelerated somewhat over the first half of this year,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. “The committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.”

iShares Silver Trust: 9,759.01 tonnes

iShares Silver Trust: 9,759.01 tonnes

August 8: Gold and Silver End Near Unchanged

Gold fell $8.20 to $1603.40 by a little after 8AM EST before it rallied to as high as $1616.49 in the next hour and a half of trade, but it then drifted back lower midday and ended with a gain of just 0.07%. Silver slipped to $27.699 before it rose to $28.246 by late morning in New York, but it then fell back off in afternoon trade and ended with loss of 0.32%.

Silver Market Morning

New York gold closed at $1,599.60 down $8.70. London took gold down to $1,594 ahead of the Fix after which it Fixed at $1,594.74 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,293.600 down €12 on yesterday morning. Ahead of New York’s opening gold looked slightly stronger at $1,595.60 in the middle and in the euro at €1,299.40.

iShares Silver Trust: 9,691.18 tonnes

iShares Silver Trust: 9,691.18 tonnes

August 15: Gold and Silver End Slightly Higher

Gold edged up to $1603.09 in Asia before it fell back to $1590.08 at about 4AM EST, but it then rose to as high as $1605.83 in New York and ended with a gain of 0.28%. Silver slipped to as low as $27.496 at about 4AM EST, but it then rose to as high as $27.99 in New York and ended with a gain of 0.07%.

Silver Market Morning

New York gold closed at $1,604.10. London held gold there through the morning right up to the Fix where it Fixed at $1,603.50 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,306.739, up €13 on yesterday. Ahead of New York’s opening, gold was steady at $1,603.55 in the middle and in the euro at €1,306.62.

iShares Silver Trust: 9,733.39 tonnes

iShares Silver Trust: 9,733.39 tonnes

SilverCrest Announces Trading on NYSE MKT to Commence August 27, 2012

SilverCrest Mines Inc. (SVL.V)(STVZF) ("SilverCrest" or the "Company") is pleased to announce that its common shares have been authorized for listing on the NYSE MKT in New York. The shares will begin trading on the NYSE MKT on August 27, 2012 under the trading symbol "SVLC". The Company's common shares will continue to be listed on the TSX Venture Exchange under the trading symbol "SVL".

Silver Tacks on the "30" Handle

Silver needs to close out the week on a strong note to punch through the downtrending resistance line noted on this weekly chart. The ability to put a handle of "30" in front of the price is extremely helpful from both a psychological and technical perspective but a solid trending move is still not yet in the cards until silver can decisively gain the $32.50 level. Even at that, dip buyers should begin making their appearance in this market as the technical posture has changed significantly this week.

Silver Eagles Soar