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Silver Market Updates

What I’m saying on Facebook to get new people to consider silver...

April 30, 2013
By Chris Mullen, Chief Content Manager

It’s still too soon to tell if the “Buy Silver!” May 1st event will really go “viral.” This grassroots' effort still has hours to go parabolic, an eternity on the Internet. However, I’m already getting excited about the next phase of this market (and marketing) “experiment” - recruiting new people, those who have never bought silver - into the game.

Silver’s Bullish Cup Formation

April 30, 2013
By Chris Mullen, Chief Content Manager

The most significant fact about silver, from a charting point of view, is the mega cup pattern formed over a period of more than 30 years.These cup (or cup and handle) patterns are very bullish formations.

Silver Market Morning

April 30, 2013
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,470.41 in New York yesterday. In Asia, where China is still on holiday, it pulled back to $1,462. In London it jumped to $1,474 ahead of the Fix. The Fix was set at $1,472.75 just 25 cents higher and in the euro at €1,126.13 while the euro was at €1: $1.3078. Ahead of New York’s opening it slipped slightly at $1,471.90 [the same as yesterday at this time] and in the euro at €1,126.12.

Precious Metals Chartology Roadmap

April 29, 2013
By Chris Mullen, Chief Content Manager

In this weekend report I would like to answer some questions presented at the forum this weekend. First lets look at silver and see what the charts are telling us especially after last weeks price action. Lets start with a daily look that shows the downtrend channel that began back in October of last year.

Silver Market Morning

April 29, 2013
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,467.30 in New York on Friday. In Asia it continued to rise back to $1,472level despite the closure of the Chinese markets. The Fix was set at $1,472.50 in London up $10 on Friday and in the euro at €1,125.506 up €2 while the euro was at €1: $1.3083. Ahead of New York’s opening it slipped slightly at $1,471.90 and in the euro at €1,125.35.

Silver Shortage of April, 2013

April 28, 2013
By Chris Mullen, Chief Content Manager

Rounds and Silver Eagles are sold out, and occasionally it has been difficult to source them, on and off, so far this year. Prices over spot are changing up to 5% per day, and silver eagles are selling for up to 30-40% over spot on ebay.com. Investor buying probably remains about where it has been for the past 4 years, at about 100 million oz. of silver per year, but maybe a tiny bit more in recent weeks of course.

Should we all buy silver on May 1st? Twelve reasons I say, “dang straight!”

April 28, 2013
By Chris Mullen, Chief Content Manager

An effort has recently been launched on the Internet to get those who believe in “real money” to buy (physical) silver on May 1st. It’s too soon to know if this grassroots’ appeal goes “viral” and makes a statement that influences not only markets, but the mainstream media and perhaps even the world.

Silver Market Update

April 28, 2013
By Chris Mullen, Chief Content Manager

After being stuck in a tight range following its plunge about 9 trading days ago, silver finally responded to gold’s creeping advance and “popped” on Thursday, but it was not that impressive and was followed by a rather negative “spinning top” candlestick on Friday, meaning that it could have been a 1-day wonder especially given that gold’s relief rally looks to be about done.

Silver’s Underperformance Against Gold

April 26, 2013
By Chris Mullen, Chief Content Manager

What happened on Friday, April 12 and Monday, April 15 on gold and silver markets looked like a gigantic earthquake – a drop of about $200 (13%) for the yellow and almost $5 (18%) for the silver metal. There has been a lot of hyperbole going on. We even heard it said that a move of that scale would statistically only be expected “once every 4,776 years.” Going even further, John Kemp of Reuters calculates that, based on a normal distribution (by the way, market returns are not normally…

Silver Market Morning

April 26, 2013
By Chris Mullen, Chief Content Manager

Gold continued to move higher, closing at $1,464.3 up $34 in New York yesterday. In Asia it continued to rise back to $1,475.35 ahead of the Fix. The Fix was set at $1,462.25 and in the euro at €1,123.425 while the euro was at €1: $1.3016. Ahead of New York’s opening it slipped slightly at $1,463.75 and in the euro at €1,126.09.

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