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Silver Market Updates

Volatility In Silver and GDX

February 28, 2013
By Chris Mullen, Chief Content Manager

In the four large silver bull markets since August 2005 (when the bull market really took off), the daily price of silver went up about 60% of the time and down about 40% of the time. Those bull markets were not constructed upon relentless upward moves, but upon chaotic sometimes up, sometimes down moves. On average, the daily upward moves occurred slightly more often than the daily downward moves. Yet, each bull market moved up over 114% in price from beginning to end.

Silver Market Morning

February 28, 2013
By Chris Mullen, Chief Content Manager

The gold price slipped back to $1,597.10 in New York, yesterday. In Asia and ahead of London’s opening it held there but as London opened gold slipped back to Fix at $1,591.00 and in the euro at €1,213.392, while the euro was $1.3112. Ahead of New York’s opening, gold was $1,591.30 and in the euro at €1,212.69.

Silver: Buy Now! Update #25

February 27, 2013
By Chris Mullen, Chief Content Manager

During the financial crisis of 2008, the silver price corrected 57% from the high of $20.79 down to $8.95. This correction was followed by a spectacular rise of more than 400% to $48.42. A correction was inevitable and a drop of 42% followed that phenomenal rise. So far, the silver price has recovered 6%, holding above the low of $26.43 reached last June. The next up-leg is expected to start any time and should lead the silver price to a new all-time high – most likely this year.

Silver Market Morning

February 27, 2013
By Chris Mullen, Chief Content Manager

The gold price jumped in New York, yesterday to close at $1,613.90 up nearly $20. In Asia and ahead of London’s opening it slipped slightly to $1,607. In London it was Fixed at $1,608.50 up $10 and in the euro at €1,228.801 up nearly €11, while the euro was $1.3090. Ahead of New York’s opening, gold was $1,607.65 and in the euro at €1,228.25.

Silver Market Morning

February 26, 2013
By Chris Mullen, Chief Content Manager

The gold price rose in New York, yesterday to close at $1,594.60. In Asia and ahead of London’s opening it slipped slightly to $1,591 as the euro dropped 2 ½ cents after the worry over the Italian elections. In London it was Fixed at $1,597.25 up $5 and in the euro at €1,219.65 up nearly €19, while the euro was $1.33096. Ahead of New York’s opening, gold was $1,592.00 and in the euro at €1,216.99.

Silver Market Morning

February 25, 2013
By Chris Mullen, Chief Content Manager

The gold price continued to recover and opened in Asia above $1,590 with a steady euro. In London it was Fixed at $1,592.50 and in the euro at €1,201.89, while the euro was $1.3250. Ahead of New York’s opening, gold was $1,591.00 and in the euro at €1,195.96.

Silver Market Update

February 24, 2013
By Chris Mullen, Chief Content Manager

Even though the technical indications for silver are not as strongly bullish as those for gold, they are now sufficiently positive that silver is likely to take off higher before much longer, encouraged by the strength that we should soon see reappear in gold. Of course, it will probably take some weeks for sentiment to recover sufficiently to drive a significant rally after the latest sharp drop, so we may see some backing and filling before a sustainable uptrend can get going, but that is…

Silver Market Morning

February 21, 2013
By Chris Mullen, Chief Content Manager

After the bloodbath in New York yesterday gold closed at $1,564.50 down $40 as the search for a floor went down to a new recent low assisted by a two cents weaker euro. In Asia overnight the gold price did not really bounce but rose from close to $1,560 to $1,568 ahead of London’s opening. In London it was Fixed at $1,568.50 and in the euro at €1,189.339, while the euro was $1.3188. Ahead of New York’s opening, gold was $1,573.65 and in the euro at €1,193.52.

Silver Market Morning

February 20, 2013
By Chris Mullen, Chief Content Manager

In New York yesterday gold closed at $1,604.90 as the consolidation phase seeks a clear direction at these levels. In Asia overnight the gold price was holding just below yesterday’s levels at $1,606.40. In London it was Fixed at $1,602.00 and in the euro at €1,195.344, while the euro was $1.3402. Ahead of New York’s opening, gold was $1,593.40 and in the euro at €1,189.55.

It’s Time to go All-in on Gold and Silver

February 19, 2013
By Chris Mullen, Chief Content Manager

Based on last week’s trading activity and my contrary opinion theory, I feel that we are seeing what is called a “weak hands clean out” of small investors in the Gold and Silver markets, and that Gold will continue its twelve year record of gains in 2013. Since 2011, the Gold price has consolidated in the $1,525 to $1,920 per ounce area and is ready to breakout. I would not be surprised to see Gold move back above its 2011 high of $1,920 per ounce, and see Silver above $40 per ounce in 2013.

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