• Gold: 1,254.94 6.15
  • Silver: 18.27 0.09
  • Euro: 1.060 0.002
  • USDX: 100.87 -0.12
  • Oil: 54.14 -0.24

February 23: Gold and Silver Gain Almost 1% While Dow Sets 10th Straight Record High

10 hours 58 min ago

Gold edged down to $1235.80 in Asia, but it then jumped to as high as $1250.90 in late morning New York trade and ended with a gain of 0.86%. Silver rose to as high as $18.217 and ended with a gain of 0.78%.

October 5: Gold and Silver End Slightly Lower

Gold gained $8.27 to $1276.97 at about 8:30AM EST before it fell back to $1262.25 in the next 4 hours of trade, but it then bounced back higher in late trade and ended with a loss of just 0.17%. Silver climbed above $18 in Asia before it fell back to $17.555 in New York, but it ended with a loss of just 0.5%.

Banks must face U.S. silver rigging lawsuit; UBS is dismissed

Silver investors may pursue a lawsuit accusing two major banks of conspiring to fix prices and exploit market distortions, affecting $30 billion traded each year in the precious metal and related instruments, a federal judge has ruled.

Silver Market Morning: Oct-5-2016 -- Gold and silver looking for a bottom!

We hear on one side that the reason for the fall in the gold price came from hawkish comments by a non-voting member of the FOMC, but that seems unlikely to us. We also heard that ‘rumors’ of a gradual termination of the E.C.B.’s quantitative easing program, but that needs more solid evidence for that to be believable.

October 4: Gold and Silver Fall Over 3% and 5%

Gold held near unchanged in Asia and London, but it then fell throughout most of trade in New York and ended near its late session low of $1267.04 with a loss of 3.4%. Silver slipped to as low as $17.726 and ended with a loss of 5.15%.

Key Breakdowns after Silver’s Final Reversal

The end of the previous week was rich in signals as gold, silver and mining stocks all reversed along with the USD Index. Gold closed the week below the rising support line and the implications should not be ignored even by those who usually focus on fundamentals alone. Why? Because in the short- and medium term, the important technical developments will shape the price – not the fundamentals.

Gold and Silver Market Morning: Oct-4-2016 -- Gold breaks down through $1,300!

The Technical picture shows a break down through support and is now looking for the bottom or are we there now? We do know that at these levels there are many buyers just waiting to get in once a bottom is found. With China in its ‘Golden Week’ of holidays there is little drive to take gold prices higher at the moment. Even U.S. based gold ETFs are now seeing no demand [just small sales].

Willem Middelkoop: The SDR Has Arrived and Silver Should Expect to See Shortages in the Market

The renminbi was added to the SDR (Special Drawing Rights) basket of currencies on Saturday October 1, 2016. Nothing changed, the dollar didn’t blow apart and the world is still functioning as normal. Why? Because the people, around the world, still accept their currencies issued by the central bank in their respective country. We will not see any changes to the system until the next crisis. The next crisis could come today, tomorrow or fifteen years from now. The next crisis will be slowed, and possibly stopped by central banks around the world “printing” trillions of units of currency.

October 3: Gold and Silver Fall With Stocks

Gold edged up to $1319.45 in Asia before it fell to as low as $1309.46 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.31%. Silver slipped to as low as $18.703 and ended with a loss of 1.77%.

Golden Arrow Reports Final Chinchillas Phase VI Drill Results & Expands Mineralization to the East

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(GARWF)(WKN:A0B6XQ) ("Golden Arrow") is pleased to announce the results of assaying of the final twelve drill holes in the Phase VI drilling program at its Chinchillas Silver Project in Jujuy Province, Argentina.

Fortuna Announces Change in the Board of Directors

Fortuna Silver Mines Inc. (FVI.TO)(FSM) Mr. Simon Ridgway, Chairman of the Board, is pleased to announce the appointment of Mr. David Laing to the Board of Directors of the company.

Deutsche Fuels Silver

Last week, it was the Fed’s magic boosting up the price of silver. This week, the slow slide in the silver price resumed, going all week except during peak fear about the woes of Deutsche Bank. When it looked bleakest—and the potential size of the capital-eating fines was highest—there was a wicked little rally in the metals, spiking silver up from below $19.10 to $19.70 in a few hours. However, the price reversed just as fast, on news of a settlement with the US Department of Justice.

Silver Market Morning: Oct-3-2016 -- Gold and silver struggling at support!

Once again we see lower prices dominating while Shanghai is on holiday. New York prices dominate when China is closed. The Yuan is now part of the SDR of the IMF, for the Chinese an important step on the way to international acceptability as a global currency. We expect to see its use accelerate from now on. Today’s Yuan exchange rate is merely academics because of the holiday there.

September 30: Gold and Silver Fall Roughly 2% on the Week

Gold gained $6.59 to $1327.99 at about 9AM EST before it chopped down to $1314.19 in early afternoon New York trade, but it then bounced back higher in late trade and ended with a loss of just 0.3%. Silver surged over 3% to $19.692 before it also fell back off, but it still ended with a gain of 0.47%.

Market Report: Option expiry and Deutsche Bank

This week, a collapse of Deutsche Bank was openly discussed in the general media, and there are signs that institutional depositors in wholesale money markets have begun to minimise their exposure. The result is that DB’s shares on Wall Street last night dropped 7% into new low ground and continued this weakness overnight (Thursday/Friday) into the Frankfurt opening in heavy volume.

Silver Market Morning: Sep-30-2016 -- Gold and silver hold at support!

Look at the difference between New York’s close and Shanghai’s p.m. fix! With the Yuan becoming one of the currencies in the SDR tomorrow we are closely watching to see if there is any change in a range of Chinese activities. Many feel that the Yuan has done little internationally so far, so why should it change now? We feel, as you know, that China has been holding back until this moment came. From now on we will see the action in the currency, etc. going forward.

September 29: Gold and Silver End Slightly Lower While Stocks Drop Roughly 1%

Gold saw slight gains in Asia before it fell to see a $6.78 loss at $1316.12 in late morning New York trade and then bounced back above unchanged in early afternoon action, but it then fell back off again into the close and ended with a loss of 0.11%. Silver slipped to $19.008 and ended with a loss of 0.47%.

Silver Market Morning: Sep-29-2016 -- Gold and silver hold at support!

It is ironic that central bankers continue to hold huge stocks of gold as they fear the same dangers both from their own behavior and that of other bankers. It is this that leads us to conclude that if confidence is massively lost in the financial system, governments will assume control over cash, silver and gold. With their being no likelihood of a change in the morality of bankers, it is inevitable that at some point in the future, governments through their central bankers will assume total control of these elements within their own Jurisdictions.

September 28: Gold and Silver End Mixed While Oil Jumps

Gold dipped $4.46 to $1322.74 in Asia before it edged back to $1326.89 in London and then fell to a new session low of $1318.20 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.32%. Silver slipped to as low as $18.916 at one point, but it then rallied back higher into the close and ended with a gain of 0.1%.

2017: Gold and Silver's Year of "Public Recognition"

Late August into September ushered in an intermediate and much needed correction to the year's blistering uptrend for the metals and miners. If you believe, as we do, that the new bull run for gold and silver has at least several more years to run, then going against your emotions and adding to your position – or starting a new one – is the right thing to do.

September 27: Gold and Silver Fall Roughly 1%

Gold dropped $12.09 to $1325.21 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.76%. Silver slipped to as low as $18.982 and ended with a loss of 1.34%.

Silver Market Morning: Sep-27-2016 -- Gold and silver still building strength!

For gold investors and macro-economic followers, the issues seem to be simpler. We have had for several years now a government that was gridlocked [emasculated?] as regards taking effective action. A Clinton Presidency would continue that [good for gold prices]. A Trump Presidency would remove that and give power to ‘government’ to act decisively once more. We see a large potential for globally divisive policies [good for gold prices too] under such a presidency.

September 26: Gold and Silver Fall With Stocks and Dollar

Gold fell $5.11 to $1332.79 in Asia before it bounced back to $1342.17 in morning New York trade, but it then chopped back lower into the close and ended with a loss of 0.045%. Silver slipped to as low as $19.374 and ended with a loss of 1.32%.

Silver Market Morning: Sep-26-2016 -- Gold and silver building strength!

Since the last announcement from the Bank of Japan, where little was changed, Mr. Kuroda of the bank has spoken in such a way as to encourage a weaker Yen, saying he would venture further into negative interests rates should the need arise. It had little impact on the dollar: Yen exchange rate. In the E.U. Draghi is being more forthright and calling for governments to implement structural reforms to spur growth. We doubt member state governments are listening let alone planning to do anything, even going so far as to point fingers at Draghi and the E.C.B.

Joseph Grosso: A Return to Values That Support Our Currencies (Video)

Since 1913 the Federal Reserve has dictated monetary policy in the U.S. and beginning in 1971 initiated a system to dictate monetary policy to the world. The birth of the “petrodollar” has forced countries, around the world, to use the Federal Reserve Note to purchase oil produced by the OPEC nations. This has allowed the U.S. economy to sustain an unsustainable lifestyle based on debt. This system is coming to an end. The world is awakening to the game the U.S. Treasury has been playing as they have hidden by the Federal Reserve firewall.

September 23: Gold and Silver Gain About 2% and 5% on the Week

Gold edged down to $1333.80 in Asia before it climbed up to $1340.56 in early New York trade and then chopped back lower into the close, but it still ended with a gain of 0.06%. Silver slipped to as low as $19.585 and ended with a loss of 1.21%.

MASSIVE INDIAN SILVER IMPORTS: Setting Up For Another Big Record Year

With the paper price of silver now below the break-even for the majority of the primary silver mining companies, India imported a massive 1,243 metric tons of silver in October alone. What is quite interesting about this figure is that it comes in at one metric ton shy of the previous record set in May, 2011 at 1,244 mt.

Liberty Dollar founder avoids imprisonment in sentencing

We have it only through a reliable intermediary that Liberty Dollar founder Bernard von Not Haus, convicted rather strangely almost four years ago of counterfeiting for issuing silver coins worth more than the originals they were supposed to be imitating, received a lenient sentence today from Judge Richard Voorhees in U.S. District Court for the Western District of North Carolina -- six months of home confinement and three years of probation.

The Mother of all Bank Runs!

Do you remember seeing old pictures of the Great Depression which depicted "lines"? There were two types, bread lines and also lines to the front doors of banks. While we don't see any bread lines today, trust me, there are bread lines in every single state, and long ones at that. Nearly 50 million people in the U.S. survive on SNAP, EBT cards or whatever they are called in your state. Can you imagine the "confidence" it would instill if each day on your way to work you saw massive lines of people waiting for breakfast?

December 9: Gold and Silver Gain Over 2% and 4%

Gold climbed $29.19 to $1234.19 by late morning in New York before chopped back lower at times, but it still ended with a gain of 2.04%. Silver surged to as high as $17.205 and ended with a gain of 4.03%.

NEW UPDATE: Silver Eagle Sales Surpass 2013 Record At Nearly 43 Million

After the U.S. Mint updated its bullion figures on Monday, 2014 Silver Eagle sales reached a new annual record surpassing last years total by nearly 200,000. Not only was 2014 a banner year for world’s most sought after official coin, the Silver-Gold Eagle ratio also hit a new record high.

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 2% and 4% on the Week

Gold edged up to $1227.25 at about 5AM EST before it dropped back to $1216.39 over the next five hours of trade, but it then bounced back higher in late morning New York trade and ended with a loss of just 0.25%. Silver rose to as high as $17.205 before it also fell back off, but it ended with a loss of just 0.24%.

Santacruz Silver Reports Malfunction in Tailings Dam Dewatering Pipe

Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (SCZ.V) reports that during the weekend at its Rosario Mine in San Luis Potosi, Mexico , a pipeline connecting the Rosario Mine tailings impoundment to a secondary settling pond ruptured and as a consequence water and some tailings material were discharged outside of the tailings treatment system. The Company has notified all appropriate regulatory and governmental authorities.

Silver Market Morning

New York closed at $1,218.90 up $13.40 as the euro continued to fall. Gold retreated to $1,214.10 with the euro at $1.1866 ahead of London’s opening. The Fix saw the gold price set at $1,213.75 up $2.75 and in the euro, at €1,023.83 up €6.525 while the euro was another half of a cent weaker than yesterday at $1.1855. Ahead of New York’s opening gold was trading in London at $1,213.40 and in the euro at €1,024.61.

Fortuna Reports 2014 Record Production of 8.7 Million Silver Equivalent Ounces and Issues Guidance for 2015

Fortuna Silver Mines, Inc. (FSM)(FVI.TO)(FVI)(F4S.F) is pleased to announce 2014 production figures from its two underground operating silver mines located in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 6.6 million ounces of silver and 35.3 thousand ounces of gold or 8.7 million Ag Eq* ounces.

Silver Market Morning

New York closed at $1,258.50 up $30.50 as the euro continued tumbling. In Asia and early London the gold price lifted to $1,260.20 with the euro 1.3 cents down at $1.1625. The Fix saw the gold price set at $1,258.25 up $23.00 and in the euro, at €1,082.366 up €26.96 while the euro was ¾ of a cent weaker at $1.1625. Ahead of New York’s opening gold was trading in London at $1,258.00 and in the euro at €1,084.48.

Silver Market Morning

Gold Today –New York closed at $1,275 up $16.50 as the euro continued to slide. In Asia and early London the gold price held that level with the euro 0.75 cents down at $1.1562. The Fix saw the gold price set at $1,275.50 up $17.25 and in the euro, at €1,099.853 up €17.49, while the euro was 1/4 of a cent weaker at $1.1597. Ahead of New York’s opening gold was trading in London at $1,277.00 and in the euro at €1,101.15.

Fortuna Intercepts 1,282 g/t Ag and 8.1 g/t Au Over 4.6 Meters in Trinidad North Step-Out Drilling at San Jose Mine, Mexico

The new drill results confirm that the Bonanza and Trinidad veins and the structurally and spatially related Trinidad North Stockwork Zone all remain open to the north and to depth along the strike and plunge of the ore shoots.

Excellon Announces Management Changes

Excellon Resources Inc. (EXN.TO) (EXLLF)("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce key additions to its management and technical advisory team. In an ongoing effort to continually improve operations and realize further efficiencies at the Platosa mine, the Company has engaged a team of water management consultants, including Multiurethanes Ltd., Hydro-Ressources Inc., and Technosub Inc.

Silver Stocks Will Rule In 2015

Bank economists and bearish gold gurus continue to err, on their gold price predictions. The huge declines they promised in 2014 on the taper never materialized. They promised that 2015 would bring much lower prices. Instead, gold has already rallied strongly, as I told the gold community it would, because of the bullish news that consistently emanates from Asia.

Exponential Explosions in Debt, the S&P, Crude Oil, Silver and Consumer Prices

In 1913 the US national debt was less than $3 Billion, gold was real money, and a cup of coffee cost a nickel. By 2015 the US national debt had increased to over $18,000,000,000,000 ($18 Trillion), the gold standard was called a “barbarous relic,” most currencies had devolved into fiat paper and digital symbols backed by insolvent governments, and a Grande soy cinnamon latte, double pump, triple shot, extra hot, with sprinkles cost about five bucks.

February 13: Gold and Silver End Mixed on the Week

Gold climbed $9.18 to $1231.18 in Asia before it fell back to $1223.30 in London, but it then climbed to a new session high of $1234.85 in New York and ended with a gain of 0.53%. Silver rose to as high as $17.44 and ended with a gain of 2.55%.

SilverCrest Appoints Vice President, Corporate Communications

Mr. Rapsch has more than nine years of investor relations and corporate communications experience. The past three and a half years have been within the mining industry at SilverCrest, where he has been responsible for implementation, management and execution of all marketing and investor relations related programs, including but not limited to outreach programs to retail and institutional investors across North America and Europe.

SilverCrest Announces New Discovery at Ermitaño El Durazno Target

SilverCrest Mines Inc. (the “Company” or “SilverCrest”) is pleased to announce initial results of exploration drilling at the El Durazno Target within the 100% held Ermitaño I concession in Sonora, Mexico. Nine (9) shallow drill holes, totalling an estimated 2,656 metres have been completed. The objective was to initially drill test surface mineralization for potential open pit targets. El Durazno is the first of several targets identified by surface work to be drilled in the Ermitaño I & II and Cumobabi concessions. Please refer to news releases dated January 14, 2014 and November 18, 2014 on the Company’s website at www.silvercrestmines.com for more information.

Market Report: Mid-week sell-off

In last Friday's Market Update I commented that it is easy for bullion banks with deep pockets to move markets and change sentiment.

February 20: Gold and Silver Fall Over 2% and 6% on the Week

Gold dipped down to $1201.64 in late Asian trade before it bounced back to $1214.54 in London, but it then fell to a new 7 week low of $1198.52 in New York and ended with a loss of 0.53%. Silver slipped to as low as $16.191 and ended with a loss of 0.98%.

February 25: Gold and Silver Gain With Oil

Gold climbed $11.68 to $1211.88 in Asia before it fell back to $1201.17 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.37%. Silver rose to as high as $16.733 and ended with a gain of 1.79%.

SilverCrest President to Take Leave of Absence

SilverCrest Mines Inc. ("SilverCrest" or the "Company") announced today that N. Eric Fier, President and Chief Operating Officer, has taken a partial leave of absence to deal with certain matters of personal health. Dunham L. Craig, Director, has been appointed Interim President and will assume the President's responsibilities on a temporary basis until further stages of a succession plan developed by the Board of Directors can be implemented.

Fortuna to Release 2014 Yearend Financial Results on March 12, 2015; Conference Call at 12 p.m. Eastern on March 13, 2015

Fortuna Silver Mines Inc. (FVI.TO)(FSM) announces that it will release its financial statements and MD&A for 2014 after the market closes on Thursday, March 12, 2015.

SilverCrest to Release 2014 Fourth Quarter and Year-End Financial Results on an Amended Date, March 25, 2015

The Company’s audited 2014 fourth quarter and year-end financial results are now scheduled to be released after market closes on Wednesday March 25, 2015. SilverCrest will be holding a conference call to discuss these results on Thursday, March 26, 2015, at 10 a.m. PST (1 p.m. EST).

March 5: Gold and Silver End Near Unchanged Before Jobs Day

Gold dipped $1.43 to $1197.97 in London before it rallied back to $1209.48 at about 10:40AM EST and then drifted back lower in the next few hours of trade, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.12%. Silver rose to as high as $16.362 and ended with a gain of 0.19%.

Gold Triangle Reality Check

Gold And Silver Seasonal Trends

Mexico's Silver Mines Shine

Chart to keep an eye on - Silver

April 25: Gold and Silver End Mixed

Gold waffled near unchanged in Asia and London and edged up to $1644.30 at about 9:15AM EST before it dropped to as low as $1625.25 immediately after today’s fed statement, but it then climbed to as high as $1646.20 in afternoon trade and ended with a gain of 0.16%. Silver slipped to as low as $29.98 before it also recovered, but it still ended with a loss of 0.29%.

COMEX Silver Inventory Update

Silver Market Morning

New York closed at $1,638.70. Asia then took the price down to $1,627 early in London’s morning. The euro remarkably has held above €1: $1.30 at €1: $1.3032 leaving gold in the euro at €1,248.47 down €10 on yesterday. The Fixing in London today was set at $1,627.00 and in the euro at €1,250.769. Ahead of New York’s opening it continued to slip to stood at $1,625.00 and in the euro, which also continued to slip, €1,249.66 while the euro was at €1: $1.3003.

South American Silver Corp. Announces Final Closing of $16 Million Financing with Asian based High Technology Groups

South American Silver Corp.(TSX: SAC, US OTC: SOHAF) is pleased to announce that it has closed the final tranche of $9.6 million, of its $16 million private placement Offering (the "Offering") of 10 million Units of the Company announced 16 April 2012. The offering was priced at $1.60 per Unit, which represented a 6% premium to the 5 day volume weighted average trading price of the Company's common shares at the time the Toronto Stock Exchange (the "TSX") accepted notice of the transaction.

COMEX Silver Inventory Update

Silver Market Morning

New York closed at $1,606.80. Asia and London then took the price down to $1,585 early in London’s morning. The euro fell below €1: $1.30 to €1: $1.2971 leaving gold in the euro at €1,221.96 down €27 on yesterday. The Fixing in London today was set at $1,585.50 down $42 and in the euro at €1,221.37 down 2€8. Ahead of New York’s opening it continued to slip to stood at $1,585.81 and in the euro, which also continued to slip, €1,222.68 while the euro was at €1: $1.2970.

Silver Market Morning

New York closed at $1,591.00. Asia lifted the price up to $1,594 early in London’s morning. The euro stood at €1: $1.2965 leaving gold in the euro at €1,229.46. The Fixing in London today was set at $1,590.00 up $8 and in the euro at €1,228.368 up €7. Ahead of New York’s opening it started to slip again and stood at $1,587.65 and in the euro, which also continued to slip, €1,227.41 while the euro was at €1: $1.2935.

The Power of Relative Value & the Silver Market! WOW!

If this does not get your attention I do not know what will. Imagine buying a $400,000 furnished condo in 2011 with the proceeds of a $6,250 investment that was made in 2003. We know someone who has actually done this by using the power of relative value. Let us explain the concept and then we will explain how the relative value may apply to other great opportunities in our markets today.

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

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