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Silver Market Updates

NEW UPDATE: Silver Eagle Sales Surpass 2013 Record At Nearly 43 Million

December 09, 2014
By Chris Mullen, Chief Content Manager

After the U.S. Mint updated its bullion figures on Monday, 2014 Silver Eagle sales reached a new annual record surpassing last years total by nearly 200,000. Not only was 2014 a banner year for world’s most sought after official coin, the Silver-Gold Eagle ratio also hit a new record high.

Silver Market Morning

December 09, 2014
By Chris Mullen, Chief Content Manager

New York closed at $1,205.00 up $13.60 before Asia held it there. The euro recovered nearly a cent at $1.2336. In London’s the gold Fixing was set at $1,206.50 up $11.25 and in the euro, barely changed, at €975.75 up €0.275 while the euro was stronger at $1.2365 over 1 cent higher. Ahead of New York’s opening gold was trading in London at $1,205.90 and in the euro at €975.92.

The Mother of all Bank Runs!

December 08, 2014
By Chris Mullen, Chief Content Manager

Do you remember seeing old pictures of the Great Depression which depicted "lines"? There were two types, bread lines and also lines to the front doors of banks. While we don't see any bread lines today, trust me, there are bread lines in every single state, and long ones at that. Nearly 50 million people in the U.S. survive on SNAP, EBT cards or whatever they are called in your state. Can you imagine the "confidence" it would instill if each day on your way to work you saw massive lines of…

Silver Market Morning

December 08, 2014
By Chris Mullen, Chief Content Manager

New York closed at $1,191.40 down $14.90 on the high of the week before Asia took it up slightly to $1,195. This was due to a falling euro which started the week at $1.2284. In London’s the gold Fixing was set at $1,195.25 down $8.75 and in the euro at €975.475 down €2.115 while the euro was weaker at $1.2253. Ahead of New York’s opening gold was trading in London at $1,195.20 and in the euro at €975.43.

TOP PRIMARY SILVER MINERS Q3 2014 RESULTS: Losses At $19

December 06, 2014
By Chris Mullen, Chief Content Manager

With all the third-quarter results finally out, the top primary silver miners as a group lost money producing silver at $19 an ounce. This is not good news as the current price of silver is nearly $3 lower. I would imagine the fourth quarter will be extremely painful for the primary silver mining industry that actually produces wealth, unlike the Banking community that behaves more like a BLOOD SUCKING LEECH.

Market report: Post referendum bounce

December 05, 2014
By Chris Mullen, Chief Content Manager

It turns out the Swiss referendum last weekend which sought to force the Swiss National Bank to maintain 20% gold reserves was a red herring so far as precious metal markets are concerned.

Silver Market Morning

December 04, 2014
By Chris Mullen, Chief Content Manager

New York closed at $1,210.50 up $12.20 before Asia dropped the price to $1,206. In London’s the gold Fixing was set at $1,204.00 $0.75 and in the euro at €977.590 up €2.351 while the euro was weaker at $1.2316. There was one seller at the Fix selling 26,000 ounces and two buyers buying 20,000 ounces. Ahead of New York’s opening gold was trading in London at $1,203.10 and in the euro at €976.50.

Silver Market Morning

December 03, 2014
By Chris Mullen, Chief Content Manager

New York closed at $1,198.30 down $14.30 before Asia took the gold price up to $1,206. In London’s the gold Fixing was set at $1,203.25 up $6.25 and in the euro at €975.239 up €12.556 while the euro was a cent weaker at $1.2338. There were two sellers at the Fix selling 22,000 ounces and two buyers buying 26,000 ounces. Ahead of New York’s opening gold was trading in London at $1,204.00 and in the euro at €976.72.

Liberty Dollar founder avoids imprisonment in sentencing

December 02, 2014
By Chris Mullen, Chief Content Manager

We have it only through a reliable intermediary that Liberty Dollar founder Bernard von Not Haus, convicted rather strangely almost four years ago of counterfeiting for issuing silver coins worth more than the originals they were supposed to be imitating, received a lenient sentence today from Judge Richard Voorhees in U.S. District Court for the Western District of North Carolina -- six months of home confinement and three years of probation.

MASSIVE INDIAN SILVER IMPORTS: Setting Up For Another Big Record Year

December 02, 2014
By Chris Mullen, Chief Content Manager

With the paper price of silver now below the break-even for the majority of the primary silver mining companies, India imported a massive 1,243 metric tons of silver in October alone. What is quite interesting about this figure is that it comes in at one metric ton shy of the previous record set in May, 2011 at 1,244 mt.

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