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Silver Market Updates

Silver Market Morning

November 15, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,287.70 up $18.80 in New York on Thursday. Asia held it there this morning but London took it down nearly $5 ahead of the Fix where it was set at $1,281.75 down $1.50 in London, on Tuesday’s Fixing. In the euro it Fixed at €953.399 down €1.8 on Tuesday’s Fixing. Ahead of New York’s opening the euro stood at $1.3448: €1 with gold at $1,282.65 and in the euro at €953.78.

Silver Market Facts

November 14, 2013
By Chris Mullen, Chief Content Manager

The silver market is tiny. About 700 million oz. of silver are mined each year worldwide. About 200 million oz. recycled. About 100 million oz. from "other" sources, like governments. That's the supply side. At $20/oz., this is a $20 billion annual market.

Silver Market Morning

November 14, 2013
By Chris Mullen, Chief Content Manager

Gold closed slightly weaker at $1,268.90 down $9.60 in New York on Tuesday. But in Asia on Thursday gold was lifted $13 before London took it down $3 ahead of the Fix where it was set at $1,383.25 up $2.25 in London, on Tuesday’s Fixing. In the euro it Fixed at €955.226 down €1.6 on Tuesday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3435: €1 with gold at $1,284.40 and in the euro at €956.08.

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.

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