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Silver Market Updates

“Silver’s Plunge Is Nearing Completion”

July 11, 2017
By SilverSeek

– Silver’s plunge is nearing completion – Bloomberg analyst – Silver’s 10% sharp fall in seconds remains “mystery” – Plunge despite anemic global supply and strong demand – Total silver supply declined in ’16 – lowest level since ’13 – Silver mine production down in ’16, first time in 14 years – Total silver supply decreased by 32.6 Mln Ozs in 2016 – Supply deficit in 2016- fourth consecutive year (see table) – “Falling knife” caution but opportunity presenting itself

Is Manipulation Partly to Blame for Silver’s Plunges?

July 10, 2017
By SilverSeek

It is my privilege now to welcome in Chris Powell, Secretary-Treasurer at the Gold Antitrust Action Committee, also known as GATA. Chris is a long-time journalist and hard money advocate, and through his tireless efforts at GATA he is working to expose the manipulation of the gold and silver markets. Through GATA's work over the years. Some important revelations have come to light, which quite honestly should concern everyone.

Silver Market Morning: July 10 2017 - Gold and silver consolidating at lower levels!

July 10, 2017
By SilverSeek

As you can see Shanghai has not dropped as far as New York or London. The price differential is very wide now on today’s price of $15.94 between Shanghai and London. We have no doubt that today, gold, from the SPDR [GLD} is flowing across to Shanghai via HSBC the Custodian of the gold ETF. The big question is will Shanghai pull up London and New York prices or will Shanghai be pulled down to a much narrower differential? At the moment it is New York and London that are pulling prices down, but…

CME Stays Silent on Cause of COMEX Silver Price Glitch

July 07, 2017
By SilverSeek

Silver futures prices on the COMEX futures trading platform briefly plummeted at approximately 7:06am Singapore time yesterday, with the price for the front month (most active) September silver contract falling from a US$16.06 quote down to a low of US$14.34 all within a 1 minute interval. The futures price then recovered nearly all of its losses in the subsequent 2-3 minute period. High to low, this COMEX silver futures contract saw its price fall by just over 10.7%, before rebounding nearly…

Market Report: Speculators chicken out

July 07, 2017
By SilverSeek

The fall in prices has continued after the end of the half year, when the bullion banks have had a history of suppressing prices to window-dress their books. Doubtless a reason will be concocted to justify this price action, and favourite must be the deflationary effects of the Fed running off its mega-balance sheet. But this is to misread the current fragility of the system. We can state categorically that the US and global economies are simply debt junkies, needing increasing amounts of debt,…

Silver Market Morning: July 7 2017 - Gold and silver marking time!

July 07, 2017
By SilverSeek

Shanghai is stabilizing again today, but not by much. New York traded at $6 lower than Shanghai following Shanghai’s close yesterday. Today London opened $11 lower than Shanghai. Until gold makes a firm break one way or another we consider it directionless as it has been for most of the second quarter. Today, once again, remains a critical day for the gold price in all three global centers as the direction forward is still to be established.

Silver Prices Bounce Higher After Futures Manipulated 7% Lower In Minute

July 07, 2017
By SilverSeek

– Silver prices ‘flash crash’ before rebound – Silver hammered 7% lower in less than minute in Asian trading – Silver fell from $16 to $14.82, before recovering to $15.89 – Silver plunge blamed on another ‘trading error’ – Gold similar ‘flash crash’ last week and similar recovery

Silver Market Morning: July 6 2017 - Gold and silver still stabilizing, where next is critical!

July 06, 2017
By SilverSeek

The Fed Minutes gave a less certain picture than was interpreted by the media from the statement by Janet Yellen. The Fed is worried that inflation is falling, not rising and it is now clear that if we do see a rate hike, we are unlikely to see a start to the tapering of the Fed’s Balance Sheet. But we do expect a Balance Sheet reduction from September at a very slow pace, so the prospect of a rate hike this year is falling away if the data pattern continues as it is now.

Silver Market Morning: July 5 2017 - Gold stabilizing at lower levels, Silver double bottom?

July 05, 2017
By SilverSeek

Silver closed at $16.08 yesterday [in London] after $16.14 at New York’s close Monday. As with gold, silver is stabilizing at lower levels. As we said yesterday, silver ignores its own fundamentals and will follow gold as a monetary metal, both ways further and faster. We are expecting the silver price to be volatile, but with the present stabilizing, we hope to see a clear direction in the price of gold and silver. The question remains, is silver forming a double bottom?

How many Silver Bars are in the LBMA Vaults in London?

July 03, 2017
By SilverSeek

Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin publishing gold and silver vault holding totals covering the network of commercial precious vault operators in London that fall under its remit. This follows an announcement made by the LBMA on 8 May. There are seven commercial vault operators (custodians) in the LBMA custodian vault network namely, HSBC, JP Morgan, Brinks, Malca Amit, ICBC Standard Bank, Loomis (formerly Viamat), and G4S.

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