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Silver Market Updates

Silver Market Morning

The gold price closed at $1,425.4 down $6 in New York yesterday. In Asia, gold weakened to $1,413 then in London it Fixed at $1,412.25 down $24.25 on yesterday and in the euro at €1,094.513 down €9, while the euro was much weaker at €1: $1.2903. It then quickly fell to €1: $1.2883. Ahead of New York’s opening it stood at $1,411.55 and in the euro at €1,095.67.

A Different View of Silver

The SILVER MARKET often gets a bum rap. The reason is that often its gyrations are much greater than those of the gold market.

Silver Market Morning

The gold price closed at $1,431.40 in New York yesterday. In Asia, gold recovered slightly to over $1,441 then in London it slipped to $1,434 until the Fix which was set at $1,436.50 up $6.75 on yesterday and in the euro at €1,103.472 up only €1 while the euro was much weaker at €1: $1.3018. Ahead of New York’s opening it stood at $1,429.00 and in the euro at €1,102.96.

Silver Lows: A Discernible Pattern

Unfortunately, there is not, that I can see, a simple pattern that predicts the next high or low in the price of silver. Markets seldom make it that easy. However, there are patterns that provide valuable information to help illuminate the “big picture” perspective of where the current price of silver lies in the up-down-up-down cycle of prices.

Silver Market Morning

The pm Fix in London was set at $1,426.50, which was the lowest price of the day $16 in New York on Friday. In Asia, gold recovered slightly to over $1,431 where it held until the Fix which was set at $1,429.75 down another $19.50 on Friday and in the euro at €1,102.522 down only €11.50 while the euro was much weaker at €1: $1.2968. Ahead of New York’s opening it stood at $1,433.00 and in the euro at €1,103.41.

THE BIG FALLACY: Silver Trading More Like A Base Metal

The notion that silver has been recently trading more like a base metal is more a fallacy than fact. Some of the top technical analysts have been stating that the reason why the price of silver has not held up as well as gold is due to the fact that silver trades more like copper than gold. Basically, if the "King" of the base metals suffers... so will silver. While this makes good press, the reality is much different if we look at the data below.

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Silver Market Morning

Gold closed in New York at $1,456.20 down $16 in New York yesterday. In Asia, gold remained at that level but in London it began to slide. It was Fixed at $1,449.25 down $20 on yesterday and in the euro at €1,114.122 down only €4 while the euro was much weaker at €1: $1.3008 down €0.0128. Ahead of New York’s opening it stood at $1,432.00 and in the euro at €1,102.34.

Silver Bull Market Is Following The Structure Of The 70s Bull Market

The 70s silver bull took place during a period from a major peak in the Dow/Gold ratio (1966) to a major bottom in Dow/Gold ratio (1980). The silver bull market started in 1971 and ended at the beginning of 1980.

Silver Market Morning

Gold closed in New York at $1,472.60 up $20 in New York yesterday. In Asia, gold remained at that level. London held it there and it was Fixed at $1,469.50 up $15.5 on yesterday and in the euro at €1,118.681 up €10 while the euro was at €1: $1.3136. Ahead of New York’s opening it stood at $1,472.55 and in the euro at €1,120.36.

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