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Silver Market Updates

Silver Market Morning: Aug-10-2016 -- Gold and silver prices consolidating higher!

August 10, 2016
By SilverSeek

The jump of $15 from New York’s close was large. London came in at the open at $1,352, but there is always a reason when prices jump like this. Demand in Shanghai, the world’s largest gold market, clearly jumped. With 8.3 million individual gold investors and 10,000 institutional investors dealing on this market, supply must be tight in this physical market. We watch with interest to see if this demand feeds into London and New York.

Silver Market Morning: Aug-9-2016 -- Gold and silver prices consolidating!

August 09, 2016
By SilverSeek

Gold and silver held remarkably steady yesterday in the face of a large sale of gold from the SPDR gold ETF. The gold price continues to rest on support and with the gold season nearly on us the physical market, at least will see demand grow significantly. In the U.S. fears of a global slowdown [and low productivity] affecting the U.S. economy and the large number of potential banking and debt crises that are more than likely, the atmosphere for gold continues to be positive.

Silver Market Morning: Aug-8-2016 -- Gold and silver prices pull back to support!

August 08, 2016
By SilverSeek

The excellent Jobs report on Friday of a 255,000 increase, well above estimates, has put a rate hike back on the table, some say for September with others saying not until December. We agree with experts like Bill Gross who states that Janet Yellen is very aware of the global picture. After all the U.S. economy is doing well, but is integrated into the global economy to the extent that the global economy can drag the U.S. economy down.

The Great Silver Bubble

August 08, 2016
By SilverSeek

The price of gold was down about fifteen Federal Reserve Notes this week. The price of silver was down sixty-two copper-plated zinc pennies. Is the Federal Reserve Note a suitable instrument with which to measure gold? Can one really use debased pennies—which aren’t even made of the base metal copper any more—to measure the value of gold? We don’t know. We just work here. Quick, buy some silver, we hear it’s going to $100!

Market Report: Sterling reflates, Fed isolated

August 05, 2016
By SilverSeek

Currencies were being driven by yen strength/dollar weakness, benefiting gold in dollar terms. After a pause in gold’s upwards momentum on Wednesday, yesterday (Thursday) the Bank of England announced its quarter-point base rate cut, £70bn in extra quantitative easing, and assistance to the banks for lending amounting to a further £100bn. More on this below.

Silver Market Morning: Aug-4-2016 -- Gold and silver prices consolidating ahead of Carney!

August 04, 2016
By SilverSeek

The Bank of England lowered interest rates by 0.25% and said it had scope to do more if needed, including taking the key rate close to zero, they also announced a plan to lend as much as £100 billion ($132 billion) to banks to ensure the measures reach the real economy. In addition, the Monetary Policy Committee will buy £60 billion of government bonds over six months and as much as £10 billion of corporate bonds in the next 18 months. In total, the balance sheet could expand by £170 billion.

Silver Market Morning: Aug-2-2016 -- Gold and silver prices looking positive!

August 02, 2016
By SilverSeek

We are seeing the Yuan strengthen against the U.S. dollar but staying in line with other currencies. The People’s Bank of China is not focused on the dollar but on the broad basket of currencies of its trading partners. The PB 0 C wants a stable to weakening Yuan and that despite what level the dollar will reach at some point this year.

Silver Market Morning: Aug-1-2016 -- Gold and silver prices returning to the upward trend?

August 01, 2016
By SilverSeek

Shanghai prices were slightly lower but London stayed in line with Shanghai’s close. Shanghai continues to remain in synch with both New York and London despite the fact it is a far, far bigger physical gold market than the two put together. The Chinese appear to be quite happy to let the two smaller markets make the gold and silver price. But for how long?

Market Report: PMs appear to be breaking out

July 29, 2016
By SilverSeek

Gold and silver drifted this week, continuing last Friday’s end-of-week profit-taking, until the FOMC announced on Wednesday afternoon EST that there was to be no change in the Fed Funds Rate. This was the signal for gold to gain some $20 and silver 75 cents. These moves represented an apparent break-out from the last month’s consolidation, and prices for both metals could now be on course to challenge the highs of early July.

Silver Market Morning: July-28-2016 -- Gold and silver prices reacting to Fed and B. of J!

July 28, 2016
By SilverSeek

The report from the Fed was positive on the U.S. economy but not so positive as to indicate September could see a rate hike. Why not? Most U.S. observers are riveted on the U.S. economy in isolation from the rest of the world. But that is myopic. The Fed has made it clear that the global economy does affect the U.S. economy. The dollar exchange rate does affect the U.S. economy and cannot be ignored or removed from the formula that defines when a rate hike will occur.

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