SilverCOTReport,
August 23, 3:16 pm
COT Silver Report - August 23, 2019.
SRSrocco,
August 23, 2:20 pm
As the silver price rally continues, mine supply from three of the top producing countries fell significantly this year. Peru, Chile, and Mexico all reported declines in silver mine supply in the first half of the year, with Peru suffering the largest dropoff. With these three countries accounting for 45% of total global silver production, a reduction in mine supply can impact the overall market.
According to the mine supply data reported by each country, Peru’s silver production is down 10% in the first half of the year, while Chile fell 7% and Mexico was lower by 4% (Jan-May). The total decline in silver production from these three countries in just the first half of the year is 12 million oz (Moz):
Theodore Butler,
August 23, 2:15 am
Tuesday’s announcement by the Justice Department of a guilty plea by a long term former trader from JPMorgan for spoofing COMEX precious metal futures was the second such guilty plea since October. Both traders are cooperating in the DOJ’s ongoing investigation.
While it took way too long for the Justice Department and the CFTC to finally crack down on spoofing, I suppose it’s a case of better late than never. And there can be little doubt that the regulators have cracked down on the illegal practice, which involves the entry and immediate cancellation of large orders solely designed to manipulate prices in the short term.
Rambus,
August 22, 7:22 am
I would like to take an in-depth look at Sliver and show you the bottoming process that finally came to an end in late May of this year. There is no question that silver as been the laggard when it comes to the PM complex similar to what we saw back in the early 2000’s when gold led the way for the rest of the PM complex. Silver eventually caught fire and actually topped out in April of 2011 a full five months before gold and the PM stock indexes. If you’ve been trading silver for any length of time then you know when it moves it can make up lost ground in a hurry.
Since the early 2016 low SLV has been trying to bottom around the 13 area. Every time it would find support and rally higher SLV could never maintain its impulse move higher. Below is a one year daily chart for SLV which shows a small double bottom that formed late last year and after reaching the double bottom price objective at 15.00 the price action declined once again toward the bottom of the previous lows.
This time however SLV was able to find its low slightly above its 2018 double bottom low forming the blue bullish falling wedge.
Craig Hemke ,
August 21, 9:10 am
Over the past few weeks, I've often stated in public interviews that an expansion of the Gold:Silver Ratio to 100 would not surprise me—meaning that COMEX gold could go to $1700 while COMEX silver remains near $17—before a "substitution effect" finally forces The Banks to retreat and silver moves higher. While this may still be the case, a couple of changes over the past few weeks have led me to consider a different, short-term outlook for COMEX Digital Silver.
Let's start with that substitution effect. What does that mean?
Gary Christenson,
August 21, 9:06 am
NFLATE OR DIE!
Create more debt and higher prices, and transfer wealth from the many to the few. Our President wants lower interest rates. The Fed wants more inflation so they can expand the fiat currency Ponzi scam. Congress wants to spend, spend, spend…
And they will get it. Enter MMT..
Chris Marcus,
August 20, 9:13 am
After getting a thorough simulation of what it feels like to watch paint dry over the past eight years, the silver market is finally showing some signs of life.
After rising almost $2.50 from the May 20 $14.41 lows (coincidentally also the same time the banks finished buying back their short position – as can be seen by the red line in the middle section of the chart below), silver recently even crossed above the $17 mark.
SRSrocco,
August 19, 9:09 am
If we look at certain indicators in the silver market, the price is setting up for a big move. It seems as if mainstream investors are now becoming more worried about the stock and bond markets. With almost $17 trillion in negative-yielding debt in the world, the notion that gold or silver doesn’t earn a yield is starting to look like a better deal than paying someone to own bonds.
SilverCOTReport,
August 16, 3:19 pm
COT Silver Report - August 16, 2019.
David Smith,
August 14, 2:26 pm
Start laying in some physical gold and silver. There is compelling evidence that as the price reaches about $26, a major resistance point from years' past, "the public" – your friends and neighbors – will finally decide to join the crowd.
With such a relatively small market you can be certain, assuming availability, both the price and the premiums will be much higher than they are today. So what's the point of waiting?
3:16 pm COT Silver Report - August 23, 2019