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Silver Market Updates

Why won't the miners fight back?

August 25, 2014
By Chris Mullen, Chief Content Manager

By now I must have written scores of columns on gold and silver price suppression. Many of these columns have posited on events that might change these anti-free market tactics. What I haven’t written about, however, is the group that is most adversely affected by the price suppression and, arguably, could do the most to change the status quo.

The MOAMOPE

August 25, 2014
By Chris Mullen, Chief Content Manager

The advent of computer generated trading algorithms heralded a quantum leap forward in the quest for 24/7 control of markets. No longer were humans beings required to do such unseemly things as man trading desks or worry a whit if free markets were, if even infrequently, attempting to function. Algo precision has made even the blackest of black swan events seem to turn lily white in their utter non-eventfulness. No more significant Dow or bond crashes, and best of all, no gold rallies exceeding…

Silver Market Morning

August 25, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,280.4 up $3.30 on Friday’s level in New York. In Asia and London, gold prices slipped to $1276 as the dollar strengthened to $1.2305. The gold price was Fixed at $1,277.25 down $3.75 and in the euro at €964.181 down €0.936, while the euro was weaker at $1.3247. Ahead of New York’s opening, gold was trading at $1,278.30 and in the euro at €968.48.

Market Report: Summer drift continues

August 22, 2014
By Chris Mullen, Chief Content Manager

Gold drifted lower this week, with the price undermined by lack of interest on low volume and a slightly more hawkish tone in the FOMC minutes released on Wednesday. The chart below, of gold and open interest on Comex, shows how the price has declined while open interest has hardly budged from its historically low level.

Silver Market Morning

August 21, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,291.10 down $4.80 on Wednesday’s level in New York. In Asia and early London, gold prices pulled back to reflect a strong dollar. The gold price was Fixed at $1,280.50 down $14 and in the euro at €965.031 down €8.717, while the euro was weaker at $1.3269. Ahead of New York’s opening, gold was trading at $1,281.50 and in the euro at €966.40.

Gold & Silver Trading Alert: Dollar Soars to New Highs

August 20, 2014
By Chris Mullen, Chief Content Manager

The back-and-forth trading in the USD Index ended as it pierced through the short-term resistance and also above this year’s high. As we have emphasized many times previously, the U.S. currency is after long-, medium- and short-term breakouts so the surprises should be to the upside.

Kill Switch?

August 20, 2014
By Chris Mullen, Chief Content Manager

I have written several times regarding the size of COMEX futures going into delivery periods. It is time to do this again with silver. The September delivery month has 65,000 contracts still open. This represents 325 million ounces of silver. The "registered" category at COMEX now has just over 60 million ounces available for deliver. If you tally up the entire inventory, this is roughly 175 million ounces.

Silver Market Morning

August 20, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,295.90 down $3.00 on Tuesday’s level in New York. In Asia and early London, gold prices held that level. The gold price was Fixed at $1,294.50 down $5.75 and in the euro at €973.748 up €0.497, while the euro was weaker at $1.3294. Ahead of New York’s opening, gold was trading at $1,294.60 and in the euro at €974.67.

On the Death of Newspapering

August 19, 2014
By Chris Mullen, Chief Content Manager

A friend sidled up to me the other day and said his daughter wanted to get a journalism degree and become a newspaper reporter. My response was that he should just loan her his Smith & Wesson. The consequences would be the same and she wouldn't be stuck with all that college loan debt.

Silver Market Morning

August 19, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,298.90 down $5.20 on Monday’s level in New York. In Asia and early London, gold prices hugged the $1,300 level. The gold price was Fixed at $1,300.25 down $2.50 and in the euro at €973.251 up €0.323, while the euro was weaker at $1.3360. Ahead of New York’s opening, gold was trading at $1,300.50 and in the euro at €974.12.

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