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Silver Market Updates

Silver Market Morning

August 12, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,312.60 up $0.10 on Friday. Asia took it up to $1,331 before London pulled it back to trade at $1,327 ahead of the Fix. It then Fixed in London at $1,325.75 up $20.00 and in the euro at €997.404 up nearly €22.00. Ahead of New York’s opening gold was at $1,326.40 and in the euro at €998.34.

The Silver Miners are Ripe for Breakout

August 11, 2013
By Chris Mullen, Chief Content Manager

The Silver Miners Exchange Traded Fund symbol SIL looks ripe for a breakout from a Bullish reversal pattern on the Daily chart. This pattern is what I call an "Inverted Head and Double Shoulders pattern" which is highlighted by the blue text notes on the chart below. The neckline is a trendline drawn off the peaks in this pattern and the breakout point signals the potential change in trend.

SILVER MINING INDUSTRY: Unsustainable at Present Market Conditions

August 09, 2013
By Chris Mullen, Chief Content Manager

The primary silver mining industry is not sustainable at present market prices. Financial reports are starting to be released and by the end of the month we should have a pretty good idea on how bad the losses will be.

Silver Market Morning

August 09, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,312.50 up $27.40. Asia held it there before London pulled it back to trade at $1,308.30 ahead of the Fix. It then Fixed in London at $1,305.50 up $7.75 and in the euro at €975.491 up €11.2. Ahead of New York’s opening gold was at $1,310.90 and in the euro at €980.04.

GoldSeek.com Radio Gold Nugget: David Morgan & Chris Waltzek Discuss if the Low for Silver Is In

August 08, 2013
By Chris Mullen, Chief Content Manager

Chris Waltzek talks to David Morgan publisher of The Morgan Report

Silver Market Morning

August 08, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,285.10 up $1.50 but down $18.80 on the day before. Asia saw the gold price lifted to $1,290. It then Fixed in London at $1,287.75 down $4.25 and in the euro at €964.246 down nearly €8.80. Ahead of New York’s opening gold was at $1,288.65 and in the euro at €965.03.

Silver: The Noise is Deafening!

August 07, 2013
By Chris Mullen, Chief Content Manager

The weak prices for silver and gold during the past three years are a correction to the massive run-up in prices from October 2008 – mid 2011. During that time silver increased from a low of $8.53 to a high of nearly $50.00. Gold increased from a low under $700 to a high over $1,900. They have been correcting since then. The correction is, I expect, over – FINALLY.

Silver and Gold – a New Divergence?

August 07, 2013
By Chris Mullen, Chief Content Manager

Since the collapse of precious metals prices started in May of this year we’ve seen valuations fall tremendously. Even greater has been the drop of demand for certain metals. Probably the most brutal attack on a metal that we can visualize is that of the gold ETF known as GLD.

Silver Market Morning

August 06, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,302.40 down $5.30 on yesterday. Asia saw the gold price fall to $1,293 ahead of London’s opening where it held through the morning. It then Fixed in London at $1,292.00 down $19 and in the euro at €972.965 down nearly €14.00. Ahead of New York’s opening gold was at $1,296.00 and in the euro at €975.54.

Mexico Silver Production Down a Stunning 10%

August 05, 2013
By Chris Mullen, Chief Content Manager

The largest silver producing country in the world has seen its production decline substantially in the first five months of the year. Mexico was forecasted to increase its silver production this year, however if present trends continue, total output could fall nearly 10% in 2013. If we take a look at the last two latest reports coming from Mexico's INEGI, we can see that the majority of the declines have come from Zacatecas -- the richest silver region in the country.

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