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Silver Market Updates

Gold & Silver Fear Indexes

August 16, 2012
By Chris Mullen, Chief Content Manager

A discussion with James Turk this week renewed my interest in his Fear Index. So I decided to calculate the current figure. Given the 2.8% GFI figure listed in the equation below, clearly the gold market mania phase is only beginning, when compared to the 1980's peak.

Silver Market Morning

August 16, 2012
By Chris Mullen, Chief Content Manager

New York gold closed at $1,604.10. London held gold there through the morning right up to the Fix where it Fixed at $1,603.50 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,306.739, up €13 on yesterday. Ahead of New York’s opening, gold was steady at $1,603.55 in the middle and in the euro at €1,306.62.

Silver Market Morning

August 15, 2012
By Chris Mullen, Chief Content Manager

New York gold closed at $1,599.60 down $8.70. London took gold down to $1,594 ahead of the Fix after which it Fixed at $1,594.74 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,293.600 down €12 on yesterday morning. Ahead of New York’s opening gold looked slightly stronger at $1,595.60 in the middle and in the euro at €1,299.40.

Silver Market Morning

August 14, 2012
By Chris Mullen, Chief Content Manager

New York gold closed at $1,608.3 down $12. London took gold up to $1,614 and it Fixed at $1,614.50 as the euro stood at €1: $1.2366. In the euro it was Fixed at €1,305.596 down €6 on yesterday afternoon. Ahead of New York’s opening gold slipped slightly at $1,613.00 in the middle and in the euro at €1,305.33.

Is the Silver’s Move Above Its 50-day Moving Average a Bona Fide Buy Signal?

August 10, 2012
By Chris Mullen, Chief Content Manager

Summing up, there are virtually no positive signs for the white metal in this week’s chart except for the move above the 50-day moving average. This move was not accompanied by analogous breakouts in gold nor mining stocks, so we don’t view it as overly important. The silver-to-gold ratio indicates further weakness ahead.

GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit!

August 09, 2012
By Chris Mullen, Chief Content Manager

Welcome to Capital Account. JP Morgan said in a court filing that PFG's subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature…

What a surprise: FT says CFTC to drop silver investigation

August 05, 2012
By Chris Mullen, Chief Content Manager

But such an outcome would be completely consistent with a finding that the really big player in the silver market is not JPMorgan at all but the U.S. government acting through intermediary brokerage houses. After all, as he signed the legislation demonetizing silver in 1965, President Lyndon B. Johnson pledged that the U.S. government would rig the silver market if necessary to prevent the price from rising...

Silver Market Morning

July 31, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,622.10. London nearly the same at $1,622 and was Fixed at $1,622.75 as the euro remained the same as yesterday at €1: $1.2274. In the euro it was Fixed at €1,323.290 up €5.5 on yesterday morning. Ahead of New York’s opening gold continued rising and was at $1,624.50 in the middle and in the euro at €1,323.21.

Why Is The Future Silver Supply More at Risk than Gold?

July 30, 2012
By Chris Mullen, Chief Content Manager

The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system. Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome. However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner.

Weekend Update - Silver

July 30, 2012
By Chris Mullen, Chief Content Manager

In Silver the volume has barely been 40,000 contracts lately on the daily chart, and "Open Interest" is around 120,000 contracts. Those traders who currently have a big position in Silver have a "ruling" hand right now. Should large orders "at the market" come in to cover shorts, or liquidate long positions it is likely to cause violent price action out of nowhere.

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