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Silver Market Updates

Silver is looking over the edge...

July 23, 2012
By Chris Mullen, Chief Content Manager

Silver is looking over the edge of what looks like the "Grand Canyon" on the 1 year daily chart, see right hand side below. I have highlighted the past three month price action on the daily chart, see left hand side below. In the near term these trendlines in the recent price action are key reference areas for me.

Silver Market Morning

July 23, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,583.90 on Friday. London opened $11 down as the euro fell again on more fear. London’s morning Fix today was set at $1,571.50 and in the euro at €1,298.117, while the euro stood at €1: $1.2105 down nearly 1.5 cents on the dollar. Ahead of New York’s opening gold stood at $1,572 in the middle and in the euro at €1,297.03.

Euro shorts smell blood

July 23, 2012
By Chris Mullen, Chief Content Manager

Within the eurozone there are great stresses. At one extreme there are punitive costs of borrowing for Greece, Cyprus, Portugal, Ireland, Spain and Italy; at the other there is zero or negative interest rates for Germany, the Netherlands and Finland. Doubtless the first group begets the second, as captive investors in euros have to buy government bonds, and this requirement is being funnelled away from risk into safety.

Better Places to Keep Your Money than the Bank

July 22, 2012
By Chris Mullen, Chief Content Manager

My local bank in Colorado is literally offering to pay me no interest --just an offensive 0.05% annually, before taxes. The interest rate triples to 0.15% when the balance exceeds $50,000. Absolutely no incentive when one considers the risks the bank imposes on your capital, retaining only pennies on the dollar of your money, then leveraging your capital -- fractional banking. How can I be interested in a 0% savings rate deposited at a relatively risky institution while supporting the…

Silver Market Update

July 22, 2012
By Chris Mullen, Chief Content Manager

Silver investors and speculators are amongst the manic-depressive you can possibly find in the investment world. When they are playing maximum credits on the slots and passing round boxes of cuban cigars and taking out massive loans to buy Ferraris and Lambos you know it's time to watch out. When they retreat into the shadows, only coming out to hurl themselves off bridges and other tall structures, mumbling about the "cartel" as they plummet earthwards, you know it's getting time to buy - and…

Silver Market Morning

July 20, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,581.00 $4 higher, yesterday. London’s morning Fix today was set at $1,583.00 up $3 on yesterday and in the euro at €1,291.296, while the euro stood at €1: $1.2259 down nearly 20 cents on the dollar. Ahead of New York’s opening gold stood at $1,581.75 in the middle and in the euro at €1,293.28.

Silver Market Morning

July 19, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,577.3 yesterday. Asia took it to $1,578.94 ahead of London’s opening. London’s morning Fix today was set at $1,580.00 up $1 on yesterday and in the euro at €1,287.064, while the euro stood at €1: $1.2276 up 20 cents on the dollar. Ahead of New York’s opening gold stood at $1,588.00 in the middle and in the euro at €1,291.90.

Silver Market Morning

July 18, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,581.70 yesterday down $7.80. Asia took it to $1,582 ahead of London’s opening. London’s morning Fix today was set at $1,579.50 down $6 on yesterday and in the euro at €1,298.651, while the euro stood at €1: $1.2257 down half a cent on the dollar. Ahead of New York’s opening gold stood at $1,579.32 in the middle and in the euro at €1,290.66.

Silver Market Morning

July 17, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,589.50 yesterday. Asia took it higher to $1,594ahead of London’s opening. London’s morning Fix today was set at $1,595.00 up $11 and in the euro at €1,296.853, while the euro stood at €1: $1.2299 up a cent on the dollar. Ahead of New York’s opening gold stood at $1,594.75 in the middle and in the euro at €1,297.39.

Managed money positions hint at bullish turns for gold and silver

July 16, 2012
By Chris Mullen, Chief Content Manager

I have recently written about the breakdown of disaggregated data from the futures markets into producers and swap dealers for gold and silver futures, as reported in the Commitment of Traders reports issued by the US government’s Commodity Futures Trading Commission (CFTC). There is a further category of trader to consider, and that is Managed Money.

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