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Silver Market Updates

Silver Market Morning

December 04, 2012
By Chris Mullen, Chief Content Manager

New York closed at $1,715.20 yesterday. This morning, Asian dealers pushed prices down, unusually, to $1,705 before London opened. It was Fixed at $1,706.75 down $11.50 on yesterday’s Fix. In the euro it was Fixed at €1,305.354 down €11.5, while the euro was stronger at €1: $1.3075 and strengthening. Ahead of New York’s opening, gold was almost the same as Friday morning’s level at $1,706.75 the same as the Fixing and in the euro at €1,304.61 down €23 as the euro continued to strengthen.

David Morgan (The Silver Liberace!) Interviews Bix Weir About Silver Manipulation

December 03, 2012
By Chris Mullen, Chief Content Manager

I sat down with David Morgan at the 2012 Silver Summit and we discussed the ongoing Silver Manipulation and how it will end. David Morgan has been a long time advocate of Silver and it was a pleasure to have this discussion. You can sign up for David's service here: www.silver-investor.com

Silver Market Morning

December 03, 2012
By Chris Mullen, Chief Content Manager

New York closed at $1,713.20 on Friday. This morning, Asian and London dealers lifted the gold price to $1.719.50. It was Fixed at $1,718.00 down on Friday’s p.m. Fix but up from New York’s lows then. In the euro it was Fixed at €1,317.586 down €12, while the euro was slightly stronger at €1: $1.3026. Ahead of New York’s opening, gold was almost the same as Friday morning’s level at $1,729.55 and in the euro at €1,327.67.

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.

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