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Silver Market Updates

Is the tide turning for Precious Metals? Part II

March 25, 2015
By SilverSeek

In our new book The Silver Manifesto, David Morgan and I not only discuss the debt bomb waiting to explode in most every western world economy but also the fact that the Fed will NEVER willingly hike interest rates by any material degree because (i) the monetary policy in place isn’t conducive to economic growth, instead promoting vast misallocations of capital and (ii) because the U.S. economy is a debt based economy which needs constant debt financing, the Fed would never hike interest rates…

What’s Wrong With Silver?

March 25, 2015
By SilverSeek

Silver prices are largely set on the COMEX futures – paper silver. A company can post the margin and sell short thousands of contracts with no actual metal available thereby creating artificial supply. The reverse occurs when some company buys thousands of contracts. It is a paper game, but unfortunately it has tremendous influence on the price of real silver.

Silver Market Morning

March 25, 2015
By SilverSeek

New York closed at $1,193.70 up $3.10. Asia held it at $1,192 before London opened, where it held that level up until the “LBMA Gold price” setting. It was set at $1,192.55 down $0.65 which was the euro equivalent of €1,085.57, down €1.18. Ahead of New York’s opening, gold was trading in London at $1,194.40 and in the euro at €1,087.55.

Silver Market Morning

March 24, 2015
By SilverSeek

New York closed at $1,190.60 up $7.40. Asia held it $4 below that level before London opened, where it was lifted back up to $1,191.10 ahead of the “LBMA Gold price”. This morning the “LBMA gold price” was set at $1,193.25 up $11.85 and in the euro equivalent of €1,086.75 up €1. Ahead of New York’s opening, gold was trading in London at $1,193.60 and in the euro at €1,087.36.

Silver Market Morning

March 23, 2015
By SilverSeek

New York closed at $1,183.20 up $12.90. Asia held it a dollar below that level before London opened. So far the new way of Fixing does not appear to have produced any dramas and the ‘runs’ have gone well. Of course true transparency would mean the participants disclosing details of their in-house deals which were ‘netted’ out before the participants did an overall ‘netting out’. This morning the “LBMA gold price” was set at $1,181.40 up $9.65 with the euro price down nearly €10. Ahead of New…

Is the tide turning for Precious Metals?

March 22, 2015
By SilverSeek

Has the tide begun to turn for the precious metals, notably silver and gold? In our view the turn began last year and if pressed to pinpoint one event, it would be following the failure of the Swiss referendum when the SNB de-pegged the franc from the euro. The Swiss National Bank was frustrated with the continued depreciation of the Euro. This had as much to do with sentiment as it did with the SNB clearing seeing the Euro might be going the way of the Rentenmark.

Market Report: FOMC is boxed in

March 20, 2015
By SilverSeek

The Federal Open Market Committee (FOMC) statement released on Wednesday was notable for deferring interest rate rises to some unspecified time in the future.

Silver Market Morning

March 20, 2015
By SilverSeek

New York closed at $1,170.30 barely changed on yesterday’s close. Asia has held it there too before London opened. Today is a historic day again because it sees the start of the new Fixing process. It does not have the Chinese banks as participants, which could prove a mistake. But they may be added later. This morning the first ever “LBMA gold price” was set at $1,171.75. Ahead of New York’s opening, gold was trading in London at $1,172.50 and in the euro at €1,094.57.

The Titanic Sinks At Dawn

March 19, 2015
By SilverSeek

The titanic creation of paper assets such as bonds, currencies, and stocks has created substantial risk. That risk has spilled over into the crude oil, gold and silver markets since they are strongly influenced by the paper derivative markets – paper contracts for crude oil, paper gold, and paper silver. Leverage and derivatives magnify risk. The instability will eventually create a second version of the 2008 recession/depression.

Silver Market Morning

March 19, 2015
By SilverSeek

New York closed at $1,171.00 up $22.50 with Asia taking it down to $1,168 before London opened. Today is a historic day as it sees the last gold and silver “Fixings”, a process that began in 1919. Tomorrow will see the twice daily LBMA Gold Price replacing it.

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