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Silver Market Updates

Could the Confirmation of the Breakdown in Silver be Consequential?

March 01, 2013
By Chris Mullen, Chief Content Manager

Investors sentiment for precious metals and gold and silver mining stocks has deteriorated quite substantially recently. And silver is no exception here, which can be seen on the white metal charts. However, the situation in the whole sector is extreme – the oversold readings on many technical indicators and the fact that very important support lines are currently in play in virtually any asset in the sector form a setup as (or even more) encouraging for potential buyers as what we saw in 2008…

Silver Market Morning

March 01, 2013
By Chris Mullen, Chief Content Manager

The gold price slipped back to $1,580.40 in New York, yesterday. In Asia and London it slipped further then Fixed at $1,570.00 and in the euro at €1,203.998, while the euro was $1.3057 in the middle of a 7 point spread, which is usually 1 or two points only. Ahead of New York’s opening, gold was $1,579.60 and in the euro at €1,209.73.

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.

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