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Silver Market Updates

Silver Market Morning

July 05, 2013
By Chris Mullen, Chief Content Manager

New York was closed yesterday after a quiet day in London. Asian demand added nothing to the price. Then London came in to pull the price down to Fix it at $1,232.75 down $16.75 on yesterday’s Fix and in the euro at €957.401 down €3.7, reflecting the weakness of the euro. Ahead of New York’s opening gold was trading at $1,234.40 and in the euro at €958.53.

Silver Market Morning

July 04, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,252.90up $10.70 on yesterday. Asian demand added nothing to the price. It was Fixed in London at $1,249.50 up $3.50 on yesterday’s Fix and in the euro at €961.154 down €1. New York is closed today as, amazingly, the U.S. continues to celebrate its freedom from the United Kingdom.

Silver Market Buy Signal – AGAIN!

July 03, 2013
By Chris Mullen, Chief Content Manager

For the umpteenth time (actually the 3rd since June 2012) silver has given a buy signal according to my reading of the technical indicators.

The Dow and Gold Silver Ratio Signals Coming Silver Rally

July 03, 2013
By Chris Mullen, Chief Content Manager

The Dow, in particular, has been the biggest obstacle to a rise in precious metals, due to it sucking up most of the available value on global markets. However, it appears that this obstacle is now out of the way, with the Dow likely having peaked.

Silver Market Morning

July 03, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,242.20 down $10.50 on yesterday. Asian demand came in and lifted it by $4 and in London it was Fixed in London at $1,246.00 down $14.75 on yesterday’s Fix and in the euro at €962.162, while the dollar against the euro was stronger at €1: $1.2950. Ahead of New York’s opening gold stood at $1,246.15 and in the euro at €961.68.

Silver Market Morning

July 02, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,252.70 up $20.50 on yesterday. Asian demand came in and continued to lift gold to $1,264.4. It was Fixed in London at $1,260.75 and in the euro at €967.946 up €15, while the dollar against the euro was at €1: $1.3025. Ahead of New York’s opening gold stood at $1,255.40 and in the euro at €965.77.

Indian Silver Imports on Pace for New Record in 2013

July 01, 2013
By Chris Mullen, Chief Content Manager

If the present trend of large monthly silver imports continues, Indian may be setting up for a record year in 2013. According to industry sources, Indian has already imported 2,400 tonnes of silver in the first 5 months of 2013 compared to 1,900 tonnes for the entire year in 2012.

Silver finally sees the good flush in the Weeky timeframe, possible bottom being marked.

July 01, 2013
By Chris Mullen, Chief Content Manager

The Exchange Traded Fund for Silver symbol SLV, had the "Measured Rule" target of a large "Rectangle" pattern fulfilled this week in the Weely timeframe. Pricing patterns, or Support and Resistance levels in the Weekly timeframe are the strongest from a chart perspective in my experience. There is also a potential reversal pattern developing now as well. First the measured rule takes the distance from the top to the bottom of a given pattern and adds that onto the breakdown point. Quite often…

Silver Market Morning

July 01, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,232.20 up from the low of $1,181 during the day, on Friday. Asian demand came in and continued to lift gold to $1,238 and it kept on rising to $1,243 where it was Fixed in London and where it was Fixed in the euro at €952.80, up €30, while the dollar against the euro was at €1: $1.3046. Ahead of New York’s opening gold stood at $1,238.64 and in the euro at €949.81.

Silver Market Morning

June 28, 2013
By Chris Mullen, Chief Content Manager

New York closed at $1,199.10 down another $25 yesterday. Asian demand came in and lifted it to $1,205. London held it there until the Fix where it was set at $1,203.25 down $18.75 and in the euro at €921.889 down €23.60 while the dollar was slightly weaker against the euro at €1: $1.3052. Ahead of New York’s opening gold stood at $1,202.02 and in the euro at €920.19.

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