• Gold: 1,290.95 -9.60
  • Silver: 16.93 -0.21
  • Euro: 1.192 0.003
  • USDX: 92.306 -0.202
  • Oil: 50.38 -0.33

September 20: Gold and Silver Fall Almost 1% After Fed

17 hours 35 min ago

Gold gained $4.80 to $1315.90 in London before it dropped back to $1310.90 in early New York trade and then bounced back higher into midday, but it then fell to a new session low of $1296.10 after the release of today’s fed announcement and ended with a loss of 0.8%. Silver slipped to as low as $16.968 and ended with a loss of 0.92%.

Silver Market Morning: May 03 2017 - Gold continues consolidating!

As we pointed out in the piece on Swiss gold exports demand from Asia remains very strong indeed. The refineries in Switzerland have been working 24 hours a day and 6 days a week to convert gold into metric measurement bars. This has gone on for many years now and is set to continue for the foreseeable future. It is quite remarkable that the developed gold world is quiet on the subject because it is only a matter of time before the western gold markets becomes secondary markets to Shanghai.

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 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%.

Comex Crime Scene Mechanics

Between March 24 and April 20, JPM and their criminal pals (deceptively called "Commercials" by the criminally complicit CFTC) issued 42,128 new silver contracts and fed them to the hungry hedge funds and other "speculators" wanting "silver exposure" at The Comex Casino. At 5,000/oz per contract, these 42,128 contracts represented the potential obligation to make future delivery of 210,640,000 ounces of silver. This was silver that JPM et al did not own nor did they have it immediately available. And this "silver" was sold to speculators who had no intention of taking/demanding delivery!

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.

Silver Market Morning: May 02 2017 - Gold is consolidating!

Many may think the gold price reflects demand and supply of physical gold. It doesn’t. It primarily reflects marginal supply and demand, speculative activity and the assumptions of the main dealers as to where the market is going. The physical demand and supply of gold is mainly directly contracted between physical buyers and sellers, with the contract price, primarily the London pm price setting, but for a growing number of market professionals the Shanghai gold Fix is being used by both parties to the contract. In other words the trading in physical gold, in the case of around 95%+ of such buyers and sellers, does not influence the gold price.

May 1: Gold and Silver Fall Almost 1% and 2%

Gold fell $6.70 to $1261.70 in Asia before it jumped back to unchanged at $1268.40 after this morning’s economic data was released, but it then fell to a new session low of $1254.30 in early afternoon New York trade and ended with a loss of 0.88%. Silver slipped to as low as $16.806 and ended with a loss of 1.92%.

Golden Arrow Forming Team for Joint Venture

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF) ("Golden Arrow" or the "Company") is pleased to announce that it is establishing a production work committee which will include the very experienced mining engineer Mr. Alf Hills, who will monitor the production procedure to comply with the joint venture agreement conditions, corporate management responsibilities and governance.

Silver Takes the Elevator Down

Silver has been falling for going on one year, but clearly since March 1. After one last hurrah at the end of March, it has been taking the elevator down. And by its fundamentals it should be quite a bit lower—0.0125. In any case, we are interested in watching what the fundamentals of the metals are doing. We will take a look at the graphs below, but first, the price and ratio charts.

April 28: Gold and Silver Fall Roughly 1% and 4% on the Week

Gold gained $3.40 to $1268.40 at about 8AM EST before it fell back to $1264.50 in the next 90 minutes of trade, but it then chopped back higher into the close and ended with a gain of 0.27%. Silver edged up to $17.423 before it dropped to $17.165 and then also climbed back higher, but it still ended with a loss of 0.46%.

Silver Standard Resources Acquires Interest in AbraPlata

Huayra is engaged in exploration and development activities in Argentina and owns the Diablillos gold-silver project. The advancement of the Diablillos project, together with the M-18 project, is part of an agreement the company reached with Silver Standard Resources last September. Following the agreement, Silver Standard acquired a 19.9% equity stake in Huayra, a net smelter return royalty of 1% on the Diablillos and M-18's production. The company also appointed W. John DeCooman, its vice president of business development and strategy, to Huayra’s board of directors.

Looking for Epic Signs? Enter Silver.

In yesterday’s alert we wrote that the reversal in the precious metals market should once again not be taken at its face value and that one should not overreact based on it as the size of the potential rally was limited. Well, it turned out that “limited rally” was an euphemism for a decline. Gold, silver and mining stocks declined once again despite the previous day’s reversal and gold stocks confirmed the breakdown below the key support line. The implications are strongly bearish. However, there’s something ever more bearish and much more profound.

Market Report: French election prompts correction

Gold and silver were sold down in the futures market this week, after the first round of the French presidential election last Sunday. We are led to believe the hedge funds were bullish of precious metals because Marine Le Pen had a good chance of becoming president in the second round.

Silver Market Morning: April 28 2017 - Gold is holding below support!

Shanghai’s gold prices slipped slightly again today, but the discounts of New York and London are narrowing slightly too. But in London and New York, dollar prices are consolidating in a narrowing band implying that we are moving to a point of resolution, after which we expect a strong move either way.

Silver price manipulation, is regulation putting a stop to it?

New regulations in 2018 have spooked bullion banks and silver fix operators Lack of liquidity in silver fix auction has lead to high volatility in the market Silver benchmark has strayed from spot price multiple times since 2016 No new silver benchmark operator lined up to take over in the Autumn No smoke without fire as actions point to silver price manipulation Silver remains suppressed and at a low price for investors stocking up

April 27: Gold and Silver Fall With Oil

Gold fell $8.20 to $1261.30 at about 10AM EST before it rallied back higher in the next couple of hours of trade, but it then drifted back lower into the close and ended with a loss of 0.35%. Silver slipped to as low as $17.262 and ended with a loss of 1.09%.

Fear of regulation causes big swings in London's silver benchmark

London's silver price benchmark is plagued by big, unpredictable fluctuations that risk undermining its credibility and may complicate efforts by the London Bullion Market Association to find a new operator, according to a Reuters analysis of trading data and 10 industry sources. The benchmark is used by silver producers and consumers around the world, including jewelers and electronics firms, to price their contracts in the multi-billion-dollar a day trade.

Silver Market Morning: April 27 2017 - Gold building strength below $1,300!

The big event in the U.S. was the publication of the new U.S. Tax Code proposed by the Trump administration. While it was in line with his election promises, it has a long way to go before it is law. The market barely reacted to the event. There are doubts as to whether it will pay for itself as it relies on creating growth to generate additional income on which a similar amount of tax revenue will be achieved as is achieved today. Trump’s target is to also create ‘millions of jobs’ through such measures.

April 26: Gold Gains While Silver Slips

Gold waffled between $1266.40 and $1261.40 in Asia and London before it jumped up to $1266.80 in late morning New York trade and then pared back to $1260.40 in the next couple of hours, but it then jumped to a new session high of $1270.40 in the last minutes of trade and ended with a gain of 0.45%. Silver slipped to $17.33 before it also rallied back higher, but it still ended with a loss of 0.79%.

Silver Market Morning: April 26 2017 - Gold is slpping through support!

President Trump is due to announce the changes in Tax rates he proposes, today. But these will not be implemented for some months still. Meanwhile his policy progress is being interfered with once again as the government’s funding appears to be back on the table as a negotiating tool, this weekend. Will we see a government shutdown?

Silver: Money of the People

Over the past few weeks a number of new silver coins have come online and I wanted to bring them to your attention. If you recall at the end of 2016 I wrote several articles about the more “collectible” silver coins that are available to anyone that is willing to take a chance on some really beautiful coins. The one coin that stands out from the earlier series is the America the Beautiful “Hawaii Volcanos” coin. It now commands a massive premium to spot and people are more than willing to pay it. What will be the next coin to find itself in this same position?

April 25: Gold and Silver Fall Almost 1% and 2%

Gold fell $14.10 to $1262.00 in early afternoon New York trade before it bounced back higher at times, but it still ended with a loss of 0.96%. Silver slipped to as low as $17.566 and ended with a loss of 1.62%.

Silver Price Management

If the entire world only produces 880,000,000 ounces of silver per year...and if 75% of that silver is consumed through the production of cell phones, solar panels and other items...then how do The Banks manage price off of the remaining 220,000,000 ounces? The answer: Alchemy.

Silver Market Morning: April 25 2017 - Battling on support around $1,270!

The policy of the PBoC against speculation has now been extended to the equity markets. The application of this new policy caused the Shanghai equity market to fall back heavily. But once it has found its new non-leveraged floor it will be far more stable. As you can see the PBoC is not tolerating speculative pressures on the financial markets, unlike the developed world. The main speculators in the west are the banks, but in China these institutions are firmly under the control of the central bank.

April 24: Gold and Silver End Well Off Their Lows

Gold dove down to $1266.10 at the open of trade last night before it bounced back above $1275 in Asia and then fell back to $1267.50 at about 8:15AM EST, but it then chopped its way back higher into the close and ended with a loss of just 0.68%. Silver slipped to as low as $17.734 and ended with a loss of just 0.22%.

10-10-10 Special: Silver Price + $0.10/oz on 1-ounce SilverSeek Rounds!

Silver Spot + $0.10! 10-10-10 SPECIAL on 1-ounce SilverSeek Rounds

U.S. Mint to use new silver benchmark for coin sales, purchases

The U.S. Mint said on Wednesday it will adopt the new electronic silver benchmark to be unveiled this week for its coin sales, silver purchases and price management programs following the end of the original 'silver fixing' mechanism.

August 13: Gold and Silver End Mixed Yet Again

Gold dropped $4.76 to $1304.94 by a little after 8AM EST before it jumped up to $1314.94 in the next few hours of trade and then chopped back lower at times, but it still ended with a gain of 0.15%. Silver slipped to as low as $19.714 and ended with a loss of 0.6%.

August 21: Gold and Silver Fall With the Dollar

Gold dropped $17.85 to $1273.25 by early afternoon in New York before it bounced back higher in the last few hours of trade, but it still ended with a loss of 1.07%. Silver slipped to as low as $19.32 in late Asian trade, but it then rallied back higher into the close and ended with a loss of just 0.15%.

Fortuna Silver Reports Updated Mineral Resource Estimate for San Jose Mine in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 27, 2014) - Fortuna Silver Mines Inc. (FSM)(FVI.TO)(FVI)(F4S.F) is pleased to announce an updated Mineral Resource estimate as of June 30, 2014 for the San Jose Mine located in Oaxaca, Mexico. Included in the San Jose mineral resources is an updated estimate of the Mineral Resource for the Trinidad North discovery based on the completion of forty-one additional step-out and twelve infill drill holes in the Trinidad North area.

Santacruz Silver Reports Second Quarter 2014 Financial Results

"During the second quarter we have been successful in reducing our operating costs significantly while keeping on-track with our 2014 mine plan, in particular we have reduced our all-in sustaining cost per silver equivalent ounce sold by more than 28% from the first quarter of 2014,"

September 5: Gold and Silver Fall 1.44% on the Week

Gold jumped up to $1270.35 after the release of this morning’s jobs report before it drifted back lower in late morning trade, but it still ended with a gain of 0.47%. Silver spiked up to $19.163 before it dropped back to $19.04, but it then bounced back higher in afternoon trade and ended with a gain of 0.63%.

September 10: Gold and Silver End Slightly Lower

Gold fell $12.62 to as low as $1243.88 by early afternoon in New York before it bounced back higher into the close, but it still ended with a loss of 0.52%. Silver slipped to as low as $18.893 and ended with a loss of 0.58%.

September 12: Gold and Silver Fall About 3% on the Week

Gold waffled between $1232.25 and $1239.92 in Asia before it fell to as low as $1227.69 by early afternoon in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.92%. Silver slipped to as low as $18.468 and ended with a loss of 0.32%.

September 22: Gold and Silver End Slightly Lower

Gold dropped $7.77 to $1209.83 in early Asian trade before it bounced back to $1217.10 in London and then fell back to $1212.34 by a little after 11AM EST, but it then jumped to a new session high of $1219.42 by early afternoon in New York and ended with a loss of just 0.19%. Silver slipped to $17.354 in early Asian trade before it climbed back to $17.863 in New York, but it still ended with a loss of 0.5%.

$0 Silver: The Price Point of Liberty

A few years ago when silver was approaching the magical $50 resistance point, I wrote an article claiming $50 silver as the Price Point of Liberty. Today I realize their are two price points of Liberty, $50 and somewhere before the price of silver reaches $0. Range limited, managed silver prices have been kept below $50 since 1980, regardless of inflation or the asymptotic decline in silver production and the drastic decline in production grams-per-ton and the exorbitant increase in national debt.

Fortuna Reports Production of 1.8 Million Ounces of Silver and 9,751 Ounces of Gold for Third Quarter 2014

Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI) (F4S.F) today announces production figures from its two underground mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru. In the third quarter of 2014, the company delivered 1.8 million ounces of silver, 9,751 ounces of gold plus base metal by-products. Year to date, the company has delivered 5 million ounces of silver and 26,420 ounces of gold. With current production results, silver and gold productions should exceed annual guidance by 9 percent and 8 percent respectively.

Excellon Reports Third Quarter 2014 Production

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, reports its third quarter 2014 production results and an exploration update from the La Platosa Mine in Durango, Mexico.

Silver price-fixing lawsuits consolidated in Manhattan federal court

Lawsuits filed by investors since July over the alleged price-fixing were consolidated on Tuesday in the U.S. District Court for the Southern District of New York, following an order issued last Thursday by the U.S. Judicial Panel on Multidistrict Litigation, a special body of federal judges that decides when and where to consolidate related lawsuits.

SilverCrest Announces Record Q3 Production 385,251 Ounces Silver and 7,085 Ounces Gold

SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC) (the "Company") is pleased to announce silver and gold production results for the third quarter ("Q3") of 2014 from its 100% owned Santa Elena Mine located in Sonora, Mexico. The Santa Elena Mine is in the process of finalizing the transition from an open pit heap leach to underground mining and milling operations.

October 16: Gold and Silver End Mixed As Stocks Stabilize

Gold saw slight gains in Asia and London before it dropped down to $1235.18 at about 9:15AM EST, but it then climbed back to $1244.35 by late morning in New York and ended with a gain of 0.14%. Silver slipped to as low as $17.21 and ended with a loss of 0.29%.

Silver Market Morning

The gold price closed at $1,229 down $2.00 on Monday. Asia and London took it up to $1,230.30. The euro is stronger this morning at $1.2735. The Fix was set $1,229.25 up $0.50 and in the euro at €964.572 down €2.263, while the euro stood stronger at $1.2744. The volumes of gold traded were one seller selling 30,000 ounces and three buyers buying 50,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,228.80 and in the euro at €965.01.

Silver Market Morning

The gold price closed at $1,198.70 down $12.50 on Thursday. Asia and London took down to $1,174. The euro is weaker this morning at $1.2560 on the day. The Fix was set $1,173.25 down $32.50 and in the euro at €933.447 down €24.638, while the euro stood weaker at $1.2569. The volumes of gold traded were two sellers selling 58,000 ounces and one buyer buying 38,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,774.1 and in the euro at €933.64.

U.S. Mint temporarily sold out of Silver Eagles amid huge demand

The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following "tremendous" demand in the past several weeks.

November 6: Gold and Silver Gain With Stocks

Gold chopped around between $1142.22 and $1149.44 and ended with a gain of 0.1%. Silver rose to as high as $15.465 and ended with a gain of 1.11%.

SILVER SHORTAGE? What Does It Mean?

Mike Maloney clarifies the situation of US Mint Silver Eagle suspension in this must watch report. Hidden Secrets Of Money is a world-leading educational series that is sponsored by, and also based on the priciples of WealthCycles. It shows the evolution of gold and silver as money, and teaches the historical economic mistakes that all societies repeat.

First Majestic Reports Third Quarter Financial Results

The Company generated revenues of $40.8 million for the third quarter of 2014, a 39% decrease compared to the previous quarter primarily due to a temporary suspension of silver sales of approximately 934,000 silver ounces to maximize profit in response to a 19% decline in the price of silver during the quarter, and a 9% decrease in total production.

November 12: Gold and Silver End Slightly Lower

Gold bounced between $1161.42 and $1169.72 in London before it dropped down to $1157.45 in early afternoon New York trade and then edged back higher in late trade, but it still ended with a loss of 0.49%. Silver slipped to as low as $15.569 and ended with a loss of 0.45%.

Silver Market Morning

The gold price closed up at $1,161.80 up from $1,160.10 in New York on Thursday. London took it down to $1,153 ahead of the Fix. It was Fixed at $1,154 down $7.00 and in the euro at €926.312 down €4.5, while the euro stood stronger at $1.2458. The volumes of net gold traded were two sellers selling 22,000 ounces and two buyers buying 36,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,153.70 and in the euro at €926.18.

Excellon receives TSX OK for 5.2-million-share buyback

The company filed the NCIB program to allow for market purchases of the company's common shares. Pursuant to the terms of the NCIB program, Excellon shall be permitted to purchase common shares for cancellation through the facilities of the Toronto Stock Exchange at the prevailing market price of the common shares.

Silver gets blown out

iShares Silver Trust

The iShares Silver Trust is not a standard ETF. The Trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act. Shares of the Trust are not subject to the same regulatory requirements as mutual funds. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.

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.

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.

May 21: Gold and Silver End Mixed

Gold fell $6.40 to $1585.00 at about 9:30AM EST, but it then chopped back higher midday and ended with a gain of 0.16%. Silver slipped to as low as $28.076 before it also bounced back higher, but it still ended with a loss of 0.56%.

Silver Market Morning

New York closed higher at $1,559.50 and in London’s early morning rose to $1,563.55. The euro was slightly stronger in London at €1: $1.2582. It Fixed at $1,560.50 and in the euro at €1,240.658. Ahead of New York’s opening gold stood at $1,560.32 and in the euro, €1,240.26 while the euro was at €1: $1.2582.

Silver Market Morning

Gold closed against the flow of the euro, in New York at $1,564.80 and in London’s early morning fell to $1,560. The euro stood at €1: $1.2397 another 75 cents lower than yesterday. It continued to fall in London. Gold Fixed at $1,567.50 up $19 and in the euro at €1,262.077 up €17. Ahead of New York’s opening gold stood at $1,566 and in the euro, €1,261.89 while the euro was at €1: $1.2410.

Perception and Propaganda

Today, we are experiencing a MAJOR inflection point in TPTB’s attempts to influence PERCEPTION with MONEY PRINTING and PROPAGANDA. This weekend’s impromptu “Spanish Bailout” was botched as badly as Facebook’s IPO, by the supposedly “top financial officials” of Europe. The “bailout” is nothing of the sort – simply €100 billion of PRINTED MONEY LOANS to insolvent Spanish banks, making them even more indebted as the Spanish economy collapses. Better yet, the money is supposed to come from the ESM – or European Stability Mechanism – which hasn’t yet been ratified by Germany!

A Blueprint to Kill JP Morgan’s Alleged Massive Manipulative Position in the Silver Futures Market

Our mission at SmartKnowledgeU, besides helping our clients to protect and grow their wealth in the face of the criminality of the global banking cartel, has always been, since day one, to also be a spark to reinstate a sound, gold-based monetary system. Bankers have released so much propaganda and deceit regarding the inability of our current fraudulent monetary system to return to a gold-based monetary system that I have written two books to be released this month and next that refutes the banker-created drivel and propaganda regarding the inapplicability of a gold-based system.

Silver Market Morning

Gold closed in New York at $1,626.20. The Fixing in London today was set at $1,623.5. In the euro it was set at €1,284.516. The changes since Friday have been slight, meaning the Greek election results have had little impact. Ahead of New York’s opening gold stood at $1,624.12 and in the euro, €1,283.30 while the euro was at €1: $1.2651.

Silver Market Morning

Gold closed in New York at $1,627.40. The Fixing in London today was set at $1,628.50. In the euro it was set at €1,291.743. Ahead of New York’s opening gold stood at $1,631.00 and in the euro, €1,293.73 while the euro was at €1: $1.2607.

Chink in the Armor

Today, the European contagion returned, as “official efforts” to juice markets – and thus, convince investors the Greek elections and FOMC dispatch were “bullish” – have FAILED. European markets imploded and the Dow fell 136 points, while gold, silver, and the HUI rose. This week’s “European summit” CANNOT and WILL NOT produce anything remotely constructive, with several nations – particularly, Spain and Italy – requesting bailouts despite no ratified mechanism – such as the European Stability Mechanism, which Germany has yet to approve. For the fifth time this year, PMs have risen while the Dow materially declined, demonstrating a major “chink in the armor” of TPTB, whom are desperate for investors to believe PMs are not safe havens. Which of course they are, as they have been for five millenia!

COMEX Silver Inventory Update: +599,997.06 ounces

COMEX Silver Inventory Update: +599,997.06 ounces

Silver Market Morning

Gold closed in New York at $1,604.40 down $18.4. A quiet London pulled it back to $1,599.40 ahead of the a.m. Fixing. The morning Fix today was set at $1,591.75 and in the euro at €1,285.535, while the euro stood at €1: $1.2382 down over one cent. The euro stood at €1: $1.2378 after the Fix. Ahead of New York’s opening gold stood at $1,593.00 in the middle and in the euro at €1,286.96.

Silver Market Morning

Gold closed in New York at $1,589.50 yesterday. Asia took it higher to $1,594ahead of London’s opening. London’s morning Fix today was set at $1,595.00 up $11 and in the euro at €1,296.853, while the euro stood at €1: $1.2299 up a cent on the dollar. Ahead of New York’s opening gold stood at $1,594.75 in the middle and in the euro at €1,297.39.

Silver is looking over the edge...

Silver is looking over the edge of what looks like the "Grand Canyon" on the 1 year daily chart, see right hand side below. I have highlighted the past three month price action on the daily chart, see left hand side below. In the near term these trendlines in the recent price action are key reference areas for me.

SilverCrest Announces Q2 Production 139,850 Ounces Silver & 8,584 Ounces Gold

“Operations at the Santa Elena mine enjoyed a robust second quarter with silver and gold production comfortably in line with our 2012 production guidance. This is the third consecutive quarter that we have operated at full, planned production rates. The crusher throughput averaged approximately 3,494 tonnes per day for Q2, 2012, compared to a plan of 2,500 tonnes per day. The open pit tonnes and grades continue to track closely with our geological block models and open pit mine plan. Cash costs for the quarter are anticipated to be consistent with our guidance of $8.20 per silver equivalent ounce. As a result of the strong first half of the year and projected production for the second half, the Company anticipates meeting or exceeding its 2012 production guidance of 435,000 ounces of silver and 33,500 ounces of gold”.

July 23: Gold and Silver End Modestly Lower

Gold fell to as low as $1563.41 by about 8:45AM EST, but it then rallied back higher throughout the rest of the morning in New York and ended near its noontime high of $1580.30 with a loss of just 0.42%. Silver slumped to as low as $26.671 before it also rallied back higher and ended with a loss of just 1.14%.

Silver Market Morning

Gold closed in New York at $1,582.30 yesterday. London opened higher rising to Fix at $1,587.50 $14 higher as the euro recovered back over 1: €$1.21. In the euro it was Fixed at €1,309.386 up €9 on yesterday morning, while the euro stood at €1: $1.2124 up 30 cents. Ahead of New York’s opening gold stood at $1,592.35 in the middle and in the euro at €1,310.63.

COMEX Silver Inventory Update: -66,421.358 ounces

COMEX Silver Inventory Update: -66,421.358 ounces

August 10: Gold and Silver Gain Over 1% on the Week

Gold fell $12 to $1605.70 in Asia, but it then rallied to as high as $1625.87 in New York and ended with a gain of 0.17%. Silver slipped to $27.613 in early New York trade before it surged back to $28.32, but it then drifted back lower in afternoon trade and ended with a loss of 0.4%.

August 24: Gold and Silver Gain Over 3% and 9% on the Week

Gold dropped $5.45 to $1662.55 in Asia, but it then rose to as high as $1673.36 in New York and ended with a gain of 0.05%. Silver climbed to as high as $30.712 and ended with a gain of 0.52%.

August 27: Gold and Silver End Near Unchanged

Gold climbed up to $1676.74 in Asia, but it then fell back off in London and New York and ended with a loss of 0.35%. Silver surged to as high as $31.241 in Asia before it also fell back off, but it still ended with a gain of 0.03%.