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Silver Market Updates

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.

Silver Open Interest Anomaly

December 02, 2014
By Chris Mullen, Chief Content Manager

Each week the CFTC publishes data from futures and options contracts for many commodities. Open interest shows the number of open contracts – one long for each short – in a particular commodity, say silver.

Silver Market Morning

December 02, 2014
By Chris Mullen, Chief Content Manager

New York closed at $1.212.60 and Asia took the gold price down slightly to $1,208. The recovery from $1,151 to $1,218 at its daily peak was $67. In London’s the gold Fixing was set at $1,197.00 up $18.25 and in the euro at €962.683 up €17.225 while the euro stood at $1.2434. There were two sellers at the Fix selling 30,000 ounces and one buyer buying 36,000 ounces. As we wrote this gold was trading in London at $1,198.30 and in the euro at €962.84.

Silver Market Morning

December 01, 2014
By Chris Mullen, Chief Content Manager

New York and Asia took the gold price down to $1,151 before Asia and London took it way back above New York’s close of $1,167 to $1,183, ahead of London’s Fixing. Gold was then Fixed at $1,178.75 down $5.75 and in the euro at €945.458, down €3.737 while the euro stood at $1.2468. There were two sellers at the Fix selling 40,000 ounces and two buyers buying 54,000 ounces. As we wrote this gold was trading in London at $1,174.10 and in the euro at €942.27.

SILVER EAGLE & MAPLE LEAF RECORD SALES: Five Times Larger Than 2007

November 28, 2014
By Chris Mullen, Chief Content Manager

The Royal Canadian Mint just released their figures for the quarter showing record Silver Maples sales for the year. Sales of Silver Maples weren’t as strong in the third-quarter compared to the same period last year, but they outperformed Silver Eagles in percentage terms.

Market Report: Waiting for Godot

November 28, 2014
By Chris Mullen, Chief Content Manager

Alternatively, watching paint dry. That's how it has felt this week with gold's volatility slowing to a crawl ahead of Thanksgiving yesterday and the Swiss gold referendum on Monday.

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