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Silver Market Updates

Silver Market Morning

March 05, 2013
By Chris Mullen, Chief Content Manager

The gold price slipped back to $1,573.80 in New York, yesterday. In Asia it began to recover and rose over $1,580 and London it continued to rise before Fixing at $1,584.25 and in the euro at €1,214.822, while the euro was $1.30325 in the middle. Ahead of New York’s opening, gold was $1,583.30 and in the euro at €1,215.12.

Silver Prices Defy the “Law of Supply and Demand”

March 04, 2013
By Chris Mullen, Chief Content Manager

How can we explain what has happened recently with the price of silver? In about three months, silver has declined from its late-November price of about $34 per ounce to its current price of about $28.50 as of today’s close (February 28, 2013). That’s a drop of about $5.50, which equates to a decline of over 16% in about 90 days.

Silver - Visualized in Bullion Bars

March 03, 2013
By Chris Mullen, Chief Content Manager

This infographic shows all the Silver ever mined throughout history. Silver price is currently hovering around $30 / troy oz. When Silver price hits $31.10 / troy oz each gram of Silver will be exactly $1. Silver is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.

Silver Market Update

March 03, 2013
By Chris Mullen, Chief Content Manager

The big story with silver is that the Commercials are continuing to unwind their earlier massive short position at a very rapid rate, and of course booking massive profits in the process. We had pointed out in the last update that until their short positions eased further, silver was likely to back and fill and that’s what happened last week, as after a 4-day rally into Tuesday, silver dropped back for the rest of the week to make a new intraday low on Friday.

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.

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