Clive Maund,
February 18, 9:15 am
The charts for silver look nowhere near as strong as those for gold, but that is normal for this stage in the cycle, as at the start of major sector bullmarkets investors tend to be cautious and conservative and favor gold over silver. Before going any further note that many of the observations made in the parallel Gold Market update, particularly regarding the dollar and Precious Metals stocks, apply equally to silver so there is no need to repeat them here, which is why the Silver Market update tends to be a lot shorter than the Gold Market update.
Starting with the 10-year chart we see that the giant base pattern in silver appears to be taking the form of a Double Bottom, instead of the complex Head-and-Shoulders bottom that we saw in gold. Silver certainly looks weaker than gold here and is still quite a long way from breaking out of its base pattern, and it will take a break above $22 to finally break clear out of it.
SilverCOTReport,
February 15, 3:32 pm
COT Silver Report - February 15, 2019 / Positions as of Tuesday, January 15, 2019
Theodore Butler,
February 14, 3:40 pm
It’s now been four months since the US Department of Justice secured a criminal guilty plea from the former trader from JPMorgan for spoofing and manipulating precious metals prices on the COMEX and three months since that plea was unsealed. In its announcement on Nov 6, the Justice Department made it clear that it was engaged in an ongoing investigation into COMEX precious metals trading by no less than three of its important divisions; the Criminal Division, the Federal Bureau of Investigation (FBI), and the US Attorneys Division. Here’s a link for the organization chart for the DOJ –
Theodore Butler,
February 13, 2:37 pm
Theodore Butler writes a $400 newsletter on silver. He is considered by many to be the world’s foremost authority on silver. Eighteen years ago he predicted that silver would go up ten times, which it did. We caught up with him at his home in Florida.
Q: As the world’s leading silver bull, are you expecting fireworks in silver?
A: More so than ever.
Q: You know of course that a lot of people who own silver have grown impatient. What do you say to them?
A: I feel the same impatience, however my expectations are based upon an extremely bullish set of facts. Impatience has nothing to do with it.
SilverCOTReport,
February 12, 3:23 pm
COT Silver Report - February 12, 2019
SilverCOTReport,
February 8, 3:23 pm
COT Silver Report - February 8, 2019.
David Morgan,
February 7, 9:35 am
New Pacific Metals is an exploration and development company with precious and base metal assets in China, Canada, and South America (Bolivia). Its principal asset, the Silver Sands Project in Bolivia, has the potential to become a world-class silver operation in the future. We aren’t the only ones optimistic on New Pacific Metals and mining in Bolivia in general, as two prolific primary silver producers have sizeable interests in the company.
These two important strategic shareholders are Silvercorp and Pan-American Silver, which hold a 29.80% and 12.1% interest, respectively. Pan-American currently has one operating mine Bolivia and may be looking to expand further into the country when conditions permit (it is currently digesting the sizeable acquisition of Tahoe Resources). Regarding Silvercorp, there is some overlap between the companies-namely the Chairman and CEO for both companies in Rui Feng, who personally holds a 7.8% interest. Further, Silvercorp doesn’t have anything of substance in its development pipeline, and the Silver Sands Project could fit the bill. The Silver Sands story is still very new as it was only acquired in July 2017, for $40m, yet quite a bit has been accomplished.
The Sound Money Defense League,
February 6, 10:25 am
A member of the U.S. House Financial Services Committee today pressed the Commodities Futures Trading Commission (CFTC) on its conspicuous failure to uncover the very silver market manipulation now being prosecuted by the U.S. Department of Justice.
In a probing letter dated February 5 to CFTC Chairman J. Christopher Giancarlo, Rep. Alex X. Mooney (R-WV) writes:
SilverCOTReport,
February 5, 3:27 pm
COT SPECIAL PUBLICATION SCHEDULE Reminder -- The last COT report was published on December 21, 2018. Reports going forward from that date will be published in chronological order beginning with the report previously scheduled for release on Friday, December 28, 2018 (based on data from Monday, December 24, 2018). The CFTC published the first report on Friday, February 1, 2019.
After this, the CFTC expects to publish one report on Tuesday and another on Friday of each week until the reports are current as per the normal schedule.
The Silver Institute,
February 5, 10:37 am
(Washington D.C. – February 5, 2019) Last year, the silver market faced a challenging environment which was reflected in a muted price performance. Preliminary estimates point towards a minor 0.3 percent increase in total supply whereas demand contracted 3 percent. A slowing Chinese economy, coupled with rising U.S. interest rates, an equity market bull run, and global trade tensions, affected the price performance across many markets, including gold and silver.
This year, we expect the sentiment to be more supportive for the silver market. The start of 2019 has already proven to be good for silver investors. The U.S. Mint for example, sold 12 percent more American Eagles in January compared to January 2018. In addition, the expected slowdown in the U.S. FED rate hiking cycle should also benefit silver, which in comparison to gold, has a very attractive price point based on the high gold:silver ratio at around 82.
Against this backdrop, the Silver Institute provides the following insights on 2019 silver market trends.
9:15 am Silver Market Update: Double Bottom on the 10-year...