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Silver Market Updates

The coming silver price eruption

December 02, 2012
By Chris Mullen, Chief Content Manager

There was a degree of predictability about the knockdown in gold and silver at the US futures market (Comex) last Wednesday. The reason is that the Commercials (together the producers, processers, fabricators, bullion banks and swap dealers) have large short positions, so they have a vested interest in lower prices. This is particularly noticeable in silver, which is shown below.

Global Silver Mine Production

November 30, 2012
By Chris Mullen, Chief Content Manager

In order to satiate the world’s growing hunger for silver, a lot of pressure has been placed on its supply chain. And with total annual supply recently exceeding 31k metric tons (1.0b ounces) for the first time ever, the suppliers of this white metal have so far made a valiant effort to meet demand.

Silver and the Risk Trade

November 30, 2012
By Chris Mullen, Chief Content Manager

I have posted the following composite chart without any easily discernible labels to illustrate why I analyze the silver market in the manner that I have been doing for some time now. Both charts use last November 2011 as the starting point and carry on through the present trading session. See if you can pick out which one is the Continuous Commodity Index and which one is the Silver price.

Silver Market Morning

November 30, 2012
By Chris Mullen, Chief Content Manager

New York closed at $1,726.6 up over $7 on yesterday. This morning, Asian and London dealers continued to see a recovery into the mid $1.730 area. It was Fixed at $1,728.25 up nearly $4 on yesterday’s Fix. In the euro it was Fixed at €1,329.525 up nearly €2 down from yesterday while the euro was slightly stronger at €1: $1.2999. Ahead of New York’s opening, gold was almost the same at $1,729.55 and in the euro at €1,330.06.

Silver Market Morning

November 29, 2012
By Chris Mullen, Chief Content Manager

New York closed at $1,719.20$10 down on yesterday. But yesterday saw it fall down to nearly $1,700 [see below] before recovering. This morning, Asian and London dealers continued to see a recovery into the mid $1.724 area. It was Fixed at $1,724.50 down $10 on yesterday’s Fix. In the euro it was Fixed at €1,327.560 nearly €20 down from yesterday while the euro was slightly stronger at €1: $1.2990. Ahead of New York’s opening, gold was almost the same at $1,723.90 and in the euro at €1,327.92.

The Silver Series: Supply and Demand (Part 2)

November 28, 2012
By Chris Mullen, Chief Content Manager

In 2011, there were 1040.6 million troy oz of silver produced. Of this, 84% was used by industry and the remaining was used as an investment. Interestingly, traditional uses of silver only account for about a third of silver fabrication. These include jewelry, coins, medals, and silverware. Most silver is actually consumed in over 10,000 modern industrial applications. The vast majority of silver supply comes from recycling, net government sales, and mine production. In terms of mine production…

Silver Market Morning

November 28, 2012
By Chris Mullen, Chief Content Manager

New York closed at $1,741.30 down $7.10. This morning, Asian and London dealers took the price down slightly alongside a declining euro ahead of London’s opening. It was Fixed at $1,741.00 down $6.25 on yesterday morning’s Fix. In the euro it was Fixed at €1,347.002 down €2.5, while the euro was slightly weaker at €1: $1.2925. Ahead of New York’s opening, gold was weaker at $1,738.75 and in the euro at €1,347.55.

Silver & The Fab Four

November 27, 2012
By Chris Mullen, Chief Content Manager

From one perspective, the daily silver chart has become technically overbought. A number of key indicators and oscillators have risen to levels that are worrisome to some analysts.

The Silver Saga

November 27, 2012
By Chris Mullen, Chief Content Manager

The silver standard did not die a natural death. It was deliberately killed. A proper search for the assassins was never carried out. There was never a post-mortem. In this paper we focus on the conspiracy as it might have unfolded between the two dates: April 9, 1865 (the day General Lee of the Confederacy surrendered at Appomattox to General Grant of the Union marking the end of the War Between the States) and January 1, 1879 (Resumption Day, when payment of the victorious Union’s currency,…

Silver Market Morning

November 27, 2012
By Chris Mullen, Chief Content Manager

New York closed at $1,748.40 up nearly $20 on last week. This morning, Asian and London dealers held the price at yesterday’s levels of $1,748 ahead of London’s opening. It was Fixed at $1,747.25 down $3.25 on yesterday afternoon. In the euro it was Fixed at €1,349.540 almost the same as yesterday in very thin trading, while the euro was slightly stronger at €1: $1.2947. Ahead of New York’s opening, gold was almost the same at $1,746.75 and in the euro at €1,348.63.

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