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Silver Market Updates

Hunt Becomes Billionaire After Bankruptcy 33 Years Ago in Silver...

March 28, 2013
By SilverSeek

William Herbert Hunt was once one of the wealthiest men on Earth. With his brother, Nelson Bunker Hunt, the billionaire bought more than 195 million ounces of silver -- 60 percent of the U.S. market -- in the 1970s. By early 1980, their stake was valued at more than $9 billion. The Hunts’ position imploded when silver prices plummeted 80 percent over the course of a few weeks in March 1980, culminating 33 years ago this week on what traders called Silver Thursday. The crash rattled Wall…

Silver Market Morning

March 28, 2013
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,604 yesterday. In Asia and London it traded down slightly to $1,601 ahead of the Fix in London which was at $1,602.5 and in the euro at €1,253.128, while the euro was at €1: $1.2788. Ahead of New York’s opening it traded at $1,600.80 and in the euro at €1,249.75.

Silver ‘$100 Within Two Years’

March 27, 2013
By SilverSeek

Alex: So you think $100 silver is realistic in the next year or two? Eric: Well I think obviously with gold at $1600, I would believe that silver should be at a hundred. Does it happen in one to two years? Maybe not, but I would certainly say in two to five years it happens. And that’s just with gold staying still!

Silver Market Morning

March 27, 2013
By SilverSeek

Gold Today – The gold closed in New York at $1,599.10 yesterday. In Asia and London it traded then down slightly to $1,595.30 then it rose ahead of New York’s opening to $1,599.30 and in the euro at €1,251.75 while the euro weakened to €1: $1.2776.  Silver Today – Silver closed at $28.70 in New York, yesterday. Ahead of New York’s opening silver stood at $28.37. Gold (very short-term) Gold will continue to consolidate around $1,600, in New York today. Silver (very short-term)&nbsp…

Silver Market Morning

March 26, 2013
By Chris Mullen, Chief Content Manager

The gold closed in New York at $1,604.40 yesterday. In Asia and London it traded then down slightly to $1,602.55 then it Fixed lower at $1,597.25 and in the euro higher at €1,241.354, while the euro was $1.2867. Ahead of New York’s opening, gold was $1,598.55 and in the euro at €1,242.22.

Silver Market Morning

March 25, 2013
By Chris Mullen, Chief Content Manager

The gold closed in New York at $1,607.60 on Friday. In Asia and London it traded then down until it Fixed at $1,602.25 and in the euro at €1,232.974, while the euro was $1.2995. Ahead of New York’s opening, gold was $1,603.35 and in the euro at €1,233.63.

Silver Market Update

March 24, 2013
By Chris Mullen, Chief Content Manager

Although silver’s long-term charts are more messy and difficult of interpretation than gold’s, on its long-term 7-year chart we can see that it, like gold, is getting close to a lower supporting trendline drawn parallel to the definite upper trendline drawn across the 2006, 2008 and 2011 highs, where the chances are good that it will successfully find support and turn higher, particularly as this trendline has now risen steadily to come into play underpinning the strong support level where the…

Silver's Investment Demand Conundrum

March 22, 2013
By Chris Mullen, Chief Content Manager

The silver market is increasingly becoming an exercise in contradiction. On one hand, the silver spot price has disappointed thus far in 2013, falling from the low-thirties in early January down to its current level around US$29.00/oz. Given that price direction, one would be forgiven for assuming that the silver ETF's had experienced outflows over that time - but they have not. While we have seen the SPDR Gold Trust (GLD) shed 141 tonnes of gold year-to-date with the price of gold reacting…

Silver Market Morning

March 22, 2013
By Chris Mullen, Chief Content Manager

The gold closed in New York at $1,614.40 yesterday. In Asia and London it slipped $2 until it Fixed at $1,611.50 and in the euro at €1,246.616, while the euro was $1.2906. Ahead of New York’s opening, gold was $1,609.00 and in the euro at €1,242.42.

Silver Market Morning

March 21, 2013
By Chris Mullen, Chief Content Manager

The gold closed in New York on Friday at $1,612.60 the same as yesterday. In Asia and London it slipped $5 until it Fixed at $1,608.75 and in the euro at €1,246.417, while the euro was $1.2907. Ahead of New York’s opening, gold was $1,608.85 and in the euro at €1,245.81.

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