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Silver Market Updates

Silver Market Morning

March 17, 2014
By Chris Mullen, Chief Content Manager

The New York gold price closed at $1,381.60 up $9.40 on Friday in New York. Asia took it up to $1,384 ahead of London’s opening. The gold price was Fixed in London at $1,379.00 up $9.00. In the euro, it Fixed at €992.372 up €5.909 as the dollar continued to weaken to $1.3896: €1. Ahead of the opening in New York gold stood at $1,378.70 and in the euro at €992.83.

Monster Silver Rally Brewing

March 16, 2014
By Chris Mullen, Chief Content Manager

On silver’s 1-year chart we can see that a fine large Double Bottom is completing. We already had the breakout on good volume from the 2nd trough of this Double Bottom in the middle of February, and it was this event that has (rightly) caused traders to pile into silver, although the price hasn’t moved much – yet. The better silver stocks, on the other hand, are already on fire, because the “writing is on the wall”. Right now the price is consolidating following the breakout in a fine tight…

Precious Metals Prices To Rise As The U.S. Economy Disintegrates

March 14, 2014
By Chris Mullen, Chief Content Manager

As the U.S. economy continues to disintegrate, increasing numbers of investors will be forced to move out of paper assets and into physical gold and silver to protect their wealth. At first the move will be slow, but as Americans wake up from four decades of fiat monetary amnesia, it will turn into a torrent.

Market Report: Gold storms through $1350

March 14, 2014
By Chris Mullen, Chief Content Manager

Last Monday gold ended a week-long consolidation that saw it fall from $1354 to $1329, before rising strongly to over $1370 yesterday. Not only is Asian demand still outstripping mine supply by a large margin, but physical ETFs such as GLD are now beginning to see more buyers than sellers, and so are no longer a source of supply.

Silver Market Morning

March 14, 2014
By Chris Mullen, Chief Content Manager

The New York gold price closed at $1,371.60 up $4.60 on Thursday in New York. Asia took it up again to $1,375 ahead of London’s opening. The gold price was Fixed in London at $1,370.00 down $1.00. In the euro, it Fixed at €986.463 up €4.16 as the dollar continued to strengthened to $1.3888 up 0.69 of a cent against the euro. Ahead of the opening in New York gold stood at $1,371.70 and in the euro at €987.37.

Silver Market Morning

March 13, 2014
By Chris Mullen, Chief Content Manager

The New York gold price closed at $1,367.10 up $20.10 on Wednesday in New York. Asia took it up again to $1,375 ahead of London’s opening. The gold price was Fixed in London at $1,371.00 up $16.25. In the euro, it Fixed at €982.303 up €4.834 as the dollar continued to weaken at $1.3957. Ahead of the opening in New York gold stood at $1,369.00 and in the euro at €981.05.

Silver Market Morning

March 12, 2014
By Chris Mullen, Chief Content Manager

The New York gold price closed at $1,347.00 up $7.10 cents on Tuesday in New York. Asia made it jump $10 ahead of London’s opening to $1,360. The gold price was Fixed in London at $1,355.75 up $7.75. In the euro, it Fixed at €977.469 up €3.903 as the dollar stood at $1.3870 slightly weaker. Ahead of the opening in New York gold stood at $1,359.00 and in the euro at €979.60.

Silver Market Morning

March 11, 2014
By Chris Mullen, Chief Content Manager

The New York gold price closed at $1,339.90 up 70 cents on Monday in New York. Asia saw it rise ahead of London’s opening to $1,342. The gold price was Fixed in London at $1,348.00 up $13.75. In the euro, it Fixed at €973.566 up €12.014 as the dollar stood at $1.3846 slightly stronger. Ahead of the opening in New York gold stood at $1,350.00 and in the euro at €974.66.

Gold & Silver Trading Alert: Silver below $21

March 10, 2014
By Chris Mullen, Chief Content Manager

Silver also moved lower – in fact, most decisively in the whole sector. It is now well below the 2008 high and it was the second weekly close below it. Silver is currently below the $21 level. For the bearish outlook to be confirmed (and for us to increase the size of the short position in silver), we would like to see a move below the rising long-term support lines – marked in black and grey on the above chart. They are close to where silver is now, so we may see further deterioration…

Micro to Macro Chartology: In Support of Silver

March 10, 2014
By Chris Mullen, Chief Content Manager

In this Weekend Report I want to take a good hard look at silver which has been the laggard in the precious metals complex to see if there is something technically wrong. If you been following the precious metals complex for any length of time you’ll know that silver can be contrarian at times. It likes to start out slow and then once gold begins to pickup the pace then silver will play catchup. Once silver gets ready to move it can rally hard and fast catching up to gold and surpassing in on a…

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