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Silver Market Updates

Silver Market Morning

November 29, 2013
By Chris Mullen, Chief Content Manager

The gold price in New York dropped to $1,237.50 but was lifted to $1,242 in Asia. London did the same right up to the Fix where it was set at $1,245.25 up $3.50. In the euro it Fixed at €915.228 up €1.11. Ahead of New York’s opening the euro stood at $1.3610: €1 with gold at $1,247.40 and in the euro at €916.53.

Silver Market Morning

November 28, 2013
By Chris Mullen, Chief Content Manager

The gold price in New York fell to the $1,240 level with Asia holding it there overnight. London did the same right up to the Fix where it was set at $1,241.75 down $9. In the euro it Fixed at €913.119 down €6.685. Ahead of New York’s opening the euro stood at $1.3596: €1 with gold at $1,241.40 and in the euro at €913.14.

Silver’s Long-Term Support Line Has Been Reached. What’s Next?

November 27, 2013
By Chris Mullen, Chief Content Manager

Summing up, the outlook for silver remains bearish. However, taking into account the facts that spot silver reached the support line based on the 2008 and 2013 lows and the SLV ETF just declined on significant volume, we might see a corrective move up in the short term. Additionally, Monday’s reversal makes the upward correction even more likely to be seen in the coming days.

Silver Market Morning

November 27, 2013
By Chris Mullen, Chief Content Manager

The gold price in Asia held at the $1,245 level overnight but began to rise [to $1,248] ahead of the Fix where it was set at $1,250.75 exactly the same as yesterday. In the euro it Fixed at €919.804 down €4.077 as the dollar weakened. Ahead of New York’s opening the euro stood at $1.3601: €1 with gold at $1,253.00 and in the euro at €921.26.

Silver Market Morning

November 26, 2013
By Chris Mullen, Chief Content Manager

Last night and in Asia, the gold price rose, despite its pointing down on the charts. It was at $1,253 in Asia ahead of London’s opening ahead of the Fix where it was set at $1,250.75 up $19. In the euro it Fixed at €923.881 up 11.924 reversing yesterday’s fall. Ahead of New York’s opening the euro stood at $1.3512: €1 with gold at $1,252.55 and in the euro at €924.35.

Silver Market Morning

November 25, 2013
By Chris Mullen, Chief Content Manager

This issue is the first since 15th and so is a weekly report. On Friday gold closed weaker at $1,243.20 down $44.50 on the previous Friday in New York. Asia let it slide another $12.10 cents before London held it there ahead of the Fix where it was set at $1,231.75 down $50 on a week ago in London. In the euro it Fixed at €911.957 down €41.442 on a week ago. Ahead of New York’s opening the euro stood at $1.3512: €1 with gold at $1,231.40 and in the euro at €911.34.

Why gold and silver are having a tough time

November 22, 2013
By Chris Mullen, Chief Content Manager

Ben Bernanke provided some clarity to the recent confusion surrounding the Fed’s QE stimulus program. He indicated on Tuesday that the near-zero Fed Funds rate will likely remain at that level long after ending asset purchases under quantitative easing (QE). This satisfied Wall Street and provided much relief, allowing a mini-rally to transpire in equities but providing additional selling pressure for gold and silver.

Is Silver Likely to Decline from Here?

November 20, 2013
By Chris Mullen, Chief Content Manager

Looking at the chart of silver from today’s point of view, we see that at the end of the previous week, the white metal (similarly to gold) moved higher after Federal Reserve Chair Nominee Janet Yellen told that monetary stimulus tools shouldn't be removed too soon. If you recall, several days ago we wrote that gold could move higher but that that would just be a counter trend move and would likely be followed by further declines.

Silver Fundamentals from an Historian’s Perspective

November 20, 2013
By Chris Mullen, Chief Content Manager

Ryan Jordan, Ph.D. is a professional historian, author and college professor. He is the author of “Silver – The Peoples Metal” which I highly recommend. He sees silver fundamentals from the perspective of a historian and as an astute observer of present conditions. He studies the drivers of the silver market, supply, demand, mining, inflation, investment sentiment, central bank bond monetization policies, and politics.

Death at Doe Run

November 19, 2013
By Chris Mullen, Chief Content Manager

Wallace, Idaho – While our first Affirmative Action president fiddles, Nero-like, over the smoking rubble that was the American economy, few outside of the gun-nut community – of which we are card-carrying members – noticed the newest death-rattle, this emanating from the small (pop. 3,468) town of Herculaneum, Missouri.

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