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Silver Market Updates

The Importance of The Deutsche Bank Silver Fix Lawsuit Settlement

October 18, 2016
By SilverSeek

This post is intended to remind you that this case is not about the present and it's not about the $38MM dollars. Instead, the true significance of this lawsuit will be on display over the coming months and years as innumerable new class action lawsuits are filed against The Bullion Banks for their collective role in rigging and manipulating the precious metals markets.

Silver Market Morning: Oct-18-2016 -- Gold and silver moving up, China taking control of the gold price!

October 18, 2016
By SilverSeek

The difference between New York’s close and Shanghai’s gold prices is gaining momentum. Yesterday and today there is a $10 difference, commonly referred to as the ‘premium in Shanghai. Such a comment implies that Shanghai has to add on an amount because gold is less available there and must wait for imports to even out prices. But the reality is that China has more than enough physical gold to satisfy the market on ‘normal’ days.

Silver Market Morning: Oct-17-2016 -- Gold and silver still waiting to run either way!

October 17, 2016
By SilverSeek

Shanghai is holding the gold price higher than both London and New York. After New York’s close on Friday Shanghai lifted it $8.5 as the Yuan weakened. It remains in a very narrow trading band around $1,260. This morning London pulled it back in the morning to $1,252 before turning it higher. We continue on the brink of a strong move either way.

Market Report: Markets steady

October 14, 2016
By SilverSeek

On Comex, gold’s open interest has now fallen a long way, from a high of 657,776 contracts on 11 July, to a current level of 495,457. This represents a destruction of a little over 500 tonnes of paper gold, worth $20.4bn. It is a substantial number obviously, and brings open interest down to the approximate levels that pertained at the end of May. Since that time, longer-term investors have become net buyers of gold in ETF form, and are also maintaining rolling long positions in the futures…

Silver Market Morning: Oct-14-2016 -- Gold and silver ready to run either way!

October 14, 2016
By SilverSeek

It is now clear to most observers that the People’s Bank of China wants the Yuan lower and is encouraging a ‘controlled’ devaluation over time. They are keen not to have a howling condemnation of a lower Yuan so are moving slowly, although compared to efforts by the E.U. and Japan to drive their currencies lower their actions are extremely restrained.

Silver Market Morning: Oct-13-2016 -- Gold and silver consolidating positively!

October 13, 2016
By SilverSeek

China continues to hold higher gold price levels than New York or London, but today we are seeing London opening at Shanghai’s levels. Shanghai continues to reflect physical demand as the Yuan continues to weaken. We forecast a falling Yuan with 7.00 by year’s end close to the beginning of the year and pointed out it would accelerate it fall after becoming a currency used in the SDR. It is doing this now.

Silver Market Morning: Oct-12-2016 -- Gold and silver consolidating in a narrowing band!

October 12, 2016
By SilverSeek

With the gold price in sterling having risen +37.11% since January 6th we note that the last time the Pound Sterling faced this much exchange rate damage it imposed Exchange Control in the form of the Dollar Premium. Now it simply accepts the fall in sterling, which gives it a huge competitive edge in the exports markets. It is likely to also see a major drop in the Trade deficit. And this is only on the certainty, but not the reality of Brexit, which will not be triggered until next year and…

Silver Market Morning: Oct-11-2016 -- Gold and silver consolidating!

October 11, 2016
By SilverSeek

We note that the gold price in the euro and the Yuan have been relatively steady. It is in the dollar that the gold price has weakened. The gold price is back in consolidation mode and can go either way. The downside, we feel, is pretty limited but the upside stretches a long way. Nevertheless we look to the New York market, tempered by Shanghai to point the way.

Silver Market Morning: Oct-10-2016 -- Gold and silver starting to bounce?

October 10, 2016
By SilverSeek

Shanghai is back from holiday. And they were not prepared to accept New York’s physical free price of $1,254 trading $11 - $13 higher. We remind ourselves that Shanghai is the biggest physical market in the world. It is also the first time Chinese investors and the PB o C has had the opportunity to react to the Yuan being one of the world’s leading currencies as one of those making up the SDR. In addition let’s also remind ourselves that there is no love lost between the U.S. and China as…

Market Report: Massive falls in PMs

October 07, 2016
By SilverSeek

This currency mayhem comes at a time when it is obvious that central banks have failed in their monetary policies to achieve any of their economic objectives. Investors, who have been content to go with the central banks’ flows and routinely invest in financial assets are now faced with a quandary. Do they now assume that easy money policies, including QE, will be abandoned, replaced perhaps by a strong dollar/weak euro/weak yen/weak sterling as a new coordinated monetary policy? Supporting…

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