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Silver Market Updates

The Silver Market in 2013

November 13, 2013
By Chris Mullen, Chief Content Manager

Yesterday Thomson Reuters GFMS released their latest report on the silver market. We take a look at it and assess what it means for the silver price. There are several factors, some positive and others negative, that will affect the price of silver going forward. First up, let’s have the not-so-good news facing the silver price.

Silver Market Morning

November 12, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,283.50 down $3.90 in New York on Monday. Asia let it slip, as did London, down to $1,378 ahead of the Fix where it was set at $1,381.00 in London, down $2.74 on Monday’s Fixing. In the euro it Fixed at €956.898 down €0.8 on Monday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3398: €1 with gold at $1,281.30 and in the euro at €956.37.

Silver Market Morning

November 11, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,287.40 down $29.80 in New York on Friday. Asia let it slip $2 then London came in and took it to $1,282 ahead of the Fix where it was set at $1,383.74 in London, down $25.26 on Friday’s Fixing. In the euro it Fixed at €957.808 down €17.0 on Friday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3398: €1 with gold at $1,286.40 and in the euro at €960.14.

Silver – A Technical Perspective

November 10, 2013
By Chris Mullen, Chief Content Manager

All people in the futures markets are there to make money, [hedgers excepted], or they would not subject themselves so unnecessarily to the risks. Even buyers of the physical, Stackers, want to get as low a price as they can. More people are fundamentally inclined than are technically driven. As a consequence, they like to read articles that provide a degree of psychological comfort in support of their own view of the market.

Silver Market Morning

November 08, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,317.20 up $6.40 in New York on Wednesday. On Thursday it closed at $1,306.70 Asia lifted it $2, then London came in and took it higher. At the Fix it was set at $1,309.00 in London, down $8 over Wednesday’s Fixing. In the euro it Fixed at €975.119 up €0.307 over Wednesday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3419: €1 with gold at $1,309.50 and in the euro at €975.86.

Silver Market Morning

November 06, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,310.80 down $0.60 in New York on Monday. Asia lifted it $3 before London took it higher ahead of the Fix to $1,318.65 after which it Fixed at $1,317.00 in London, up $2.75 over Tuesday’s Fixing. In the euro it Fixed at €975.050 up €3.7 over Tuesday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.35.23: €1 with gold at $1,321.00 and in the euro at €976.82.

Silver Market Morning

November 05, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,314.20 down $0.60 in New York on Monday. Asia held it a dollar lower before London took it lower to Fix at $1,311.25, as did London. Gold is still in consolidation mode. It Fixed at $1,314.25 down $0.50 over Friday’s Fix. In the euro it Fixed at €971.296 down €1.64 over Monday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.3494: €1 with gold at $1,313.10 and in the euro at €973.10.

Silver Market Morning

November 04, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,314.80 down $8.70 in New York on Friday. Asia held it at that level as did London as the euro weakened further and the dollar rose. But now gold is holding steady in the dollar. It Fixed at $1,314.25 down $0.50 over Friday’s Fix. In the euro it Fixed at €972.942 up €1.20 over Friday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.3508: €1 with gold at $1,317.75 and in the euro at €975.53.

Silver Market Morning

November 01, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,323.50 down $19.30 in New York on Thursday. Asia held it at that level before London took it down to as the euro weakened further and the dollar rose with dealers following these in thin trade. It Fixed at $1,314.75 down another $19.00 over yesterday’s Fix. In the euro it Fixed at €971.729 down only €4.0 over yesterday’s Fixing. Ahead of New York’s opening gold stood at $1,323.30 and in the euro at €974.34, while the dollar stood at $1.3581: €1.

Important Charts on Gold & Silver Eagle Sales

October 31, 2013
By Chris Mullen, Chief Content Manager

After record buying of Gold Eagles during the precious metal smack-down earlier this year, sales of the official coins declined significantly in August & September. However, sales have seen a substantial turn around this past month. Sales of the Gold Eagles were only 11,500 oz in August and 13,000 oz in September. The total of these two months were only half of the total amount shown in July, which recorded 50,500 oz of Gold Eagle sales.

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