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Silver Market Updates

Silver Market Morning

June 11, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,260.80 up $7.80 on Tuesday in New York. In Asia and London the price held just above that level until the Fix, where it was set at $1,262.50 up $9.00 and in the euro at €932.629 up €8.014, while the euro stood weaker at $1.3537. Ahead of the opening in New York the gold price was trading at $1,263.10 and in the euro at €933.28.

Silver Market Morning

June 10, 2014
By Chris Mullen, Chief Content Manager

The gold price closed unchanged at $1,253 on Monday in New York. In Asia and London the price held that level until the Fix, where it was set at $1,253.50 down $1.50 and in the euro at €924.615 up €3.92, while the euro stood weaker at $1.3557. Ahead of the opening in New York the gold price was trading at $1,253.10 and in the euro at €925.41.

U.S. Bank’s Silver Short Positions send Buy Signal

June 09, 2014
By Chris Mullen, Chief Content Manager

In early June, U.S. banks trading future-contracts at the COMEX, only held a total of 13,234 contracts in net short positions, which equals 2,057 tons of silver forward-sales and depicts the lowest value since Goldreporter started analyzing the monthly data 5 years ago (see chart). For comparison: In February 2013 U.S. banks were 6,249 tons short!

Silver Market Update

June 09, 2014
By Chris Mullen, Chief Content Manager

The public are now extremely bearish on silver, with a widespread perception that it is “done for”, but as we will see, even if there is some further short-term weakness, the longer-term outlook for silver is very bright indeed.

Silver Market Morning

June 09, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,252.90 on Friday down $1 in New York. In Asia and London the price rose $3 until the Fix, where it was set at $1,255.00 up $10.75 and in the euro at €920.695 up €6.276, while the euro stood stronger at $1.3631. Ahead of the opening in New York the gold price was trading at $1,256.20 and in the euro at €922.86.

Gold in near-death experience on Comex

June 06, 2014
By Chris Mullen, Chief Content Manager

Well, it’s a bit of an exaggeration, but for the first three days of this week daily turnover in the gold future fell to about 80,000 contracts, compared with a more normal level of 120,000. At the same time volatility fell to as close to zero as you can get. The week started with the gold price at $1241 and until yesterday at 1.00pm UK time stuck to a tight range of $7 centred on $1244. Open interest picked up a little, as shown in our first chart.

Silver Market Morning

June 06, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,253.10 up $9.4 on Thursday in New York. In Asia and London the price lifted to $1,255. It was then set at $1,254.00 up $9.25 and in the euro at €919.962 up 4.450, while the euro stood at $1.3631. Ahead of the opening in New York the gold price was trading at $1,253.70 and in the euro at €919.91.

Silver Market Morning

June 05, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,243.70 down $2.60 on Wednesday in New York. In Asia and London the price remained the same. It was then set at $1,244.75 down $1.25 and in the euro at €914.450 down €1.39, while the euro stood at $1.3612. Ahead of the opening in New York the gold price was trading at $1,244.60 and in the euro at €917.17.

Silver Market Morning

June 04, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,246.30 on Tuesday, up $3.20 cents in New York. In Asia and London the price slipped slightly by $1 until the Fix, where it was set at $1,246.00 up $1.75 and in the euro at €915.840 up €1.421, while the euro stood at $1.3605. Ahead of the opening in New York the gold price was trading at $1,246.00 and in the euro at €915.27.

Silver Market Morning

June 03, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,243.10 on Monday, up 10 cents in New York. In Asia and London the price rose $1 until the Fix, where it was set at $1,244.25, down $0.50 and in the euro at €914.419 down €0.841, while the euro stood at $1.3607. Ahead of the opening in New York the gold price was trading at $1,246.20 and in the euro at €915.72.

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