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Silver Market Updates

Recent Rally in Silver – A Sign of Strength or a Mere Correction?

August 29, 2012
By Chris Mullen, Chief Content Manager

Summing up, a lot has happened in the past several days in the white metal market but not very much has really changed from the medium-term perspective. So silver’s show of strength seen in the above charts is not really a very bullish phenomenon. This is especially true when the overbought RSI levels are considered.

Silver Summit Celebrates Its 10th

August 29, 2012
By Chris Mullen, Chief Content Manager

Cambridge House International's annual Silver Summit celebrates its tenth year Oct. 25 and 26 at the historic Davenport Hotel in Spokane, Washington, with a cavalcade of experts in all things silver and a thousand silver aficionados.

Silver Market Morning

August 29, 2012
By Chris Mullen, Chief Content Manager

New York gold closed at $1,667.20. Traders are driving the market in line with the moves of the euro: dollar exchange rate. The morning Fix was set at $1,664.25 and in the euro at €1,325.040, while the euro stood at $1.2560. Just ahead of New York’s opening, gold was steady at $1,664.26 in the middle and in the euro to €1,325.39.

Silver Price Projection – for 2013

August 28, 2012
By Chris Mullen, Chief Content Manager

An objective and reasonable estimate for the price of silver at the next intermediate peak (estimating 2013 – Quarter 2) is $50 to $60 per ounce (current price is about $28). This is not a prediction based on wishful thinking and hope, but a best estimate based on rational analysis of data stretching back to 1975.

Silver Market Morning

August 28, 2012
By Chris Mullen, Chief Content Manager

Silver in New York closed at $30.68 ignoring gold’s pullback after which London took it higher to $30.90 where it stood just ahead of New York’s opening. Silver continues stronger than gold.

Silver Market Update

August 26, 2012
By Chris Mullen, Chief Content Manager

The sharp advance by silver last week was presaged by the late July breakout from the important "inner" downtrend that we had earlier delineated, which had been in force from early March, as we can see on the 8-month chart for silver shown below. So is that it - are we on our way now? - almost, but there is one remaining major hurdle left to clear. Before going on to consider what that is we should take note of the fact that silver is now critically overbought short-term as shown by its RSI…

Silver: Supply and Demand Part 2, Investment Demand

August 24, 2012
By Chris Mullen, Chief Content Manager

This educational video looks at how and why people invest in silver. While economic, socio-political and psychological forces play a large part in determining the price of silver, it all comes back to the basic principles of supply and demand.

Silver Market Morning

August 24, 2012
By Chris Mullen, Chief Content Manager

New York gold closed at $1,669 up $14.60 on the day. Asia and London took it up slightly to $1,670 ahead of the Fix with the euro slightly weaker at €1: $1.2547. Gold continues its run up against all currencies. Gold was Fixed in London at $1,666.50 and in the euro it was Fixed at €1,329.159. After the Fix and just ahead of New York’s opening, gold was trying to rise again to $1,667.75 in the middle and in the euro to €1,330.47.

Silver Tacks on the "30" Handle

August 23, 2012
By Chris Mullen, Chief Content Manager

Silver needs to close out the week on a strong note to punch through the downtrending resistance line noted on this weekly chart. The ability to put a handle of "30" in front of the price is extremely helpful from both a psychological and technical perspective but a solid trending move is still not yet in the cards until silver can decisively gain the $32.50 level. Even at that, dip buyers should begin making their appearance in this market as the technical posture has changed significantly…

Silver Sector Shrinking

August 23, 2012
By Chris Mullen, Chief Content Manager

It has been a while since we had this nagging feeling that we’re witnessing something profound taking place before our eyes and the market doesn’t seem to grasp it yet. We are not talking about the smorgasbord of events effecting markets all over the globe that is receiving ample coverage elsewhere in the media. As readers might know, our particular interest is in the silver space, and that is where we see an elephant in the room that hasn’t made headlines yet.

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