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Silver Market Updates

Silver, Gold and Living by the Sword

July 15, 2014
By Chris Mullen, Chief Content Manager

It is said that, “If you live by the sword, you die by the sword.” Let’s expand the concept and confirm that ancient bit of wisdom. If you depend upon your sword for self-defense and aggression, you can reasonably expect that someday you will meet another swordsman who will slice your body and kill you.

Silver Market Morning

July 15, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,306.70 down $31 on Monday in New York. In Asia and early London, prices began to recover rising to $1,310 ahead of London’s opening. The gold price was Fixed at $1,312.00 down $9.60 and in the euro at €965.203 down €4.664, while the euro was weaker at $1.3593. Ahead of New York’s opening, gold was trading at $1,311.60 and in the euro at €964.80.

Brazen

July 14, 2014
By Chris Mullen, Chief Content Manager

Brazen. This is the first word that came to mind when I checked today’s silver prices on Silverseek.com, Synonyms for “brazen” include “bold” or “fearless.” To me the word connotes an attitude that one is going to do what one wants and doesn’t care what anyone else thinks. There’s an arrogance, a cockiness or perhaps even an air of desperation I associate with brazen acts and those who commit them.

Silver Market Morning

July 14, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,337.70 up $1.90 on Friday in New York. In Asia and early London, prices mysteriously plummeted to $1,321.00.The gold price was Fixed at $1,321.25 down $15.25 and in the euro at €969.867 down €11.915, while the euro was at $1.3623. Ahead of New York’s opening, gold was trading at $1,321.60 and in the euro at €969.95.

COMEX Silver Traders in Commitments of Traders (COT) Mexican Standoff, Short Squeeze Remains Likely

July 12, 2014
By Chris Mullen, Chief Content Manager

We believe there are two classes of large traders dominating the battle underway for price discovery in the COMEX futures market for silver bullion. We point to the mercenary Swap Dealers on one side of the battlefield – figuratively dug in and short selling futures in obscene numbers as we have been documenting in these GGR pages.

Market Report: The ghost of bail-ins past returns the financial stage

July 11, 2014
By Chris Mullen, Chief Content Manager

Gold and silver had a good week after the US holiday last Friday. From a low of $1312 on Tuesday, gold rose to a high point of $1345 yesterday, and silver from $20.84 to $21.60. Open interest is climbing too for both metals, as shown in the following charts.

Silver Up 10.3% YTD - Outperformance To Continue

July 11, 2014
By Chris Mullen, Chief Content Manager

Gold and silver saw gains yesterday on concerns about instability in the Middle East and the risk of contagion coming from Espirito Santo, the large Portuguese bank. A possible default has sent government bonds of Europe’s most indebted nations and bank and other stocks tumbling, showing how fragile confidence in the Eurozone banking system and sovereign debt markets is.

Silver Market Morning

July 11, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,335.80 up $8.10 on Thursday in New York. In Asia, prices rose to $1,337.00 ahead of the London’ opening. London held the price around that level then Fixed at $1,336.50 down $6.75 and in the euro at €981.782 down €3.439, while the euro was weaker at $1.3613. Ahead of New York’s opening, gold was trading at $1,336.80 and in the euro at €982.55.

Asset Boom & Inflation Ahead?

July 10, 2014
By Chris Mullen, Chief Content Manager

The “price” of anything is a measurement of something just as a “mile” is a measurement of something. A mile measures distance, a “gallon” measures volume and a “pound” measures weight. But because the actual “value” of a currency can fluctuate, the “price” of the food in the grocery store to the “price” of a share of a stock exchange can move up and down without a change in value of the item itself.

Swap Dealers ‘Goal Line Stand’ for COMEX Silver Futures in Jeopardy, Squeeze Very Possible Now

July 10, 2014
By Chris Mullen, Chief Content Manager

A sure-enough short squeeze might be developing in the volatile silver market. We attempt to identify who, or rather which class of futures trader, might be squeezed in this brief offering.

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