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Silver Market Updates

December 19: Gold and Silver Fall Over 2% More

December 19, 2013
By Chris Mullen, Chief Content Manager

Gold edged up to $1224.27 in Asia, but it then fell back off for most of the rest of trade and ended near its last minute low of $1189.47 with a loss of 2.22%. Silver slipped to as low as $19.128 and ended with a loss of 2.93%.

An Industry on the Brink

December 19, 2013
By Chris Mullen, Chief Content Manager

Something needs to change quickly or the precious metal mining industry is finished. In the course of my research on the why I have looked closely at the world of pricing. Any senior executive will tell you that you set the pricing of your product based on what the market will bear. If your variable costs exceed your revenue you have a limited life unless the government subsidizes you. The point is you set the price! The market will quickly tell you whether that price is acceptable or not.

The 'old-fashioned' gift of silver

December 19, 2013
By Chris Mullen, Chief Content Manager

This year for the first time I'm going to give the gift of silver as a Christmas present. Specifically, I'm going to give a couple of silver coins to my godson who is in 8th grade.

Silver Market Morning

December 19, 2013
By Chris Mullen, Chief Content Manager

The gold price in New York fell to $1,218.50, but Asia lifted it a couple of dollars. The dollar rose nearly a full cent to $1.3660: €1. But London let it fall to $1,202 ahead of the Fix, which was set at $1,205.25. In the euro it Fixed at €881.160 down €15.81. Ahead of New York’s opening the dollar was stronger at $1.3682 with gold, ahead of the opening in New York, at $1,205.85 and in the euro at €881.34.

December 18: Gold and Silver End Lower in Mixed Trade

December 18, 2013
By Chris Mullen, Chief Content Manager

Gold edged down to $1227.77 just before noon EST before it jumped up to $1244.19 just before today’s fed announcement, but it then dropped to as low as $1216.21 after the announcement and ended with a loss of 0.99%. Silver slipped to $19.664 before it rallied back to $20.258, but it then fell back off again and ended with a loss of 0.55%.

Silver Market Morning

December 18, 2013
By Chris Mullen, Chief Content Manager

The gold price in New York rose to $1,240.70 then fell to $1,230.70 on Tuesday. On Wednesday Asia took the gold price to $1,235, before London let it slip slightly to $1,232 ahead of the Fix, which was set at $1,233.25. In the euro it Fixed at €896.974. Ahead of New York’s opening the dollar was steady at $1.3748: €1 with gold, ahead of the opening in New York, at $1,231.80 and in the euro at €895.59.

December 17: Gold and Silver End Slightly Lower Before Fed Day

December 17, 2013
By Chris Mullen, Chief Content Manager

Gold edged up to $1247.92 in Asia before it fell back to $1227.85 at about 10:30AM EST and then bounced back higher at times, but it still ended with a loss of 0.81%. Silver climbed to $20.24 before it fell back to $19.698, but it then rallied back higher into the close and ended with a loss of just 0.3%.

Silver Market Morning

December 16, 2013
By Chris Mullen, Chief Content Manager

The gold price in New York rose to $1,237.6 up$11.10 on Friday. On Monday Asia and London ahead of the Fix let it slip to $1,227 ahead of the Fix, which was set at $1,229.50 $6.75. In the euro it Fixed at €892.624 up just over €1.4. Ahead of New York’s opening the dollar began to weaken again to $1.3781: €1 with gold ahead of the opening in New York at $1,230.30 and in the euro at €892.75.

Silver – A Rigged Market Coming To An End

December 14, 2013
By Chris Mullen, Chief Content Manager

No one can question the fact that the demand for silver has grown exponentially in the past few years, record sales for American Eagle coins being one small example, record buying in India, another larger example. Demand has never been greater. Supply, on the other hand, keeps diminishing.

Silver Market Morning

December 13, 2013
By Chris Mullen, Chief Content Manager

The gold price in New York fell to $1,226.50 down $36.00 on Thursday then Asia lifted it to $1,229.10 ahead of London’s opening. London took it lower to around $1,223.00 ahead of the Fix, which was set at $1,222.75 down $32.50. In the euro it Fixed at €891.217 down €20.83. Ahead of New York’s opening the euro stood at $1.3724: €1, stronger by nearly half a cent against the euro with gold ahead of the opening in New York at $1,227.65 and in the euro at €894.53.

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