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Silver Market Updates

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.

Silver Market Morning

July 30, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,623.40. London opened slightly lower at $1,620 and fell back to Fix at $1,616.50 as the euro fell back to €1: $1.2273. In the euro it was Fixed at €1,317.871 up €8 on Friday’s p.m. Fixing, while the euro stood at €1: $1.2266. Ahead of New York’s opening gold stood at $1,618.60 in the middle and in the euro at €1,320.72.

Silver ETFs Stealing Miners Thunder

July 27, 2012
By David Morgan, The Morgan Report

David Morgan, founder of Silver-Investor.com, says ETFs are stealing mining stocks investor base, but beaten down miners like Silver Wheaton are now the market's best bet.

Silver: Supply and Demand

July 27, 2012
By Chris Mullen, Chief Content Manager

Ever wonder how supply and demand affects the price of silver? It's not as simple as you may think. This educational video explores the economics of silver and its various uses for industrial demand.

Silver Market Morning

July 26, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,604.50 up $22.20 on yesterday. London opened slightly higher at $1,606.10 rising to Fix at $1,603.00 $15.50 higher as the euro recovered back over 1: €$1.2185 up 80 cents. In the euro it was Fixed at €1,321.735 up €12.3 on yesterday morning, while the euro stood at €1: $1.2128 almost the same as yesterday. Ahead of New York’s opening gold stood at $1,608.56 in the middle and in the euro at €1,318.98.

Silver Market Morning

July 25, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,582.30 yesterday. London opened higher rising to Fix at $1,587.50 $14 higher as the euro recovered back over 1: €$1.21. In the euro it was Fixed at €1,309.386 up €9 on yesterday morning, while the euro stood at €1: $1.2124 up 30 cents. Ahead of New York’s opening gold stood at $1,592.35 in the middle and in the euro at €1,310.63.

Silver Market Morning

July 24, 2012
By Chris Mullen, Chief Content Manager

Gold closed in New York at $1,572 yesterday. London opened at the same level as the euro fell below €1: $1.21 on growing fear. London’s morning Fix today was set at $1,573.00 and in the euro at €1,300.537, while the euro stood at €1: $1.2095. Ahead of New York’s opening gold stood at $1,575.25 in the middle and in the euro at €1,301.54.

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.

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