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Silver Market Updates

When Will US Debt Hit the Wall?

June 25, 2015
By SilverSeek

Total official US debt is over $18 Trillion but some of that is “Intragovernmental debt” – such as debt to the social security program. The remaining portion that is actually owed to pension funds, individuals, sovereign governments etc. is about $13 Trillion. It is increasing rapidly, thanks to out of control spending far in excess of revenues.

Silver Market Morning

June 25, 2015
By SilverSeek

New York closed at $1,174.40 down $3.20. Asia took it up $3 but London sent it back to New York’s closing level. The dollar was stronger at $1.1170 down 0.31 of a cent and the dollar Index was higher at 95.44 up from 95.20. The gold price was set this morning at $1,174.60 down $1.15. The euro equivalent was €1,051.57 down €1.89. Ahead of New York’s opening, gold was trading in London at $1,173.45 and in the euro at €1,048.00.

Selling a 10 oz Silver Bar for $10 (When It's Worth $160) - EXPERIMENT -

June 24, 2015
By SilverSeek

Media analyst Mark Dice tries to sell a 10 ounce bar of .999 fine silver bullion for just $10 dollars outside of a coin shop in San Diego, CA. HINT- It's worth WAY more than that, but does anyone want it? You have to see this!

The Silver Short Bubble

June 24, 2015
By SilverSeek

For the first time ever, total Comex silver open interest exceeded 200M contracts yesterday, settling at 200,273. This means that the coming Spec short squeeze is going to be violent and substantial. And why isn't anyone calling this a "bubble"?

Comex Silver Is The Most Corrupted Market In History

June 24, 2015
By SilverSeek

The silver paper futures open interest is now officially over a 1 billion ozs., most of which represents a naked short position in silver. Never in the history of the markets has any futures market been this extraordinarily disconnected from the amount of underlying physical commodity that is available to deliver against those contract open interest.

The Forgotten History (and Potential Future) of Silver as Money

June 24, 2015
By SilverSeek

In contemporary discussions of sound money, silver tends to get short shrift. Even among staunch sound money advocates, the historic role of silver as money is often marginalized or ignored altogether.

Silver Market Morning

June 24, 2015
By SilverSeek

New York closed at $1,177.60 down $7.50. Asia held the price at New York’s close and then London took it down $2 at the opening. The dollar was stronger at $1.1201 up 0.60 of a cent and the dollar Index was higher at 95.20 up from 94.81. The gold price was set this morning at $1,175.75 down $7.60. The euro equivalent was €1,049.68 down €4.86. Ahead of New York’s opening, gold was trading in London at $1,177.60 and in the euro at €1,051.71.

Silver Market Morning

June 23, 2015
By SilverSeek

New York closed at $1,185.10 down $7.90. Asia held the price at New York’s close and then London took it down $2 at the opening. The dollar was stronger at $1.1261 but looked like weakening in London and the dollar Index was higher at 94.81. The gold price was set this morning at $1,183.35 down $10.35 with the dollar at $1.1224 and the dollar index stood at 95.05, yesterday. The euro equivalent was €1,054.54 up €3.19. Ahead of New York’s opening, gold was trading in London at $1,183.60 and in…

Silver Market Morning

June 22, 2015
By SilverSeek

New York closed at $1,193 down $9.10. We do not believe that this was to do with Greece. The gold price was set this morning at $1,193.70 with the dollar at $1.1354 slightly weaker than Friday and the dollar index stood at 94.19, not far different from Friday’s level. The euro equivalent was €1,051.35 down €7.55. Ahead of New York’s opening, gold was trading in London at $1,193.60 and in the euro at €1,051.68.

All eyes on the half-year

June 19, 2015
By SilverSeek

In late-May when the price fell from over $17.50 to $16.25, Open Interest started to rise, reflecting increasing accumulation of contracts on further price falls. The short interest has come from hedge funds, which sold down 33,908 contracts (169,540,000 oz), supplied by commercial dealers balancing their positions. This strategy for the hedge funds looked good price-wise until silver refused to stay under $16, but could turn out to be a trap to be sprung by a rising gold price.

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