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Silver Market Updates

Silver Market Morning: May 24 2017 - Gold pulled back by a stronger dollar, but still within a narrow trading channel!

May 24, 2017
By SilverSeek

Again it was a day for the gold price to change because of the dollar’s influence as it strengthened a little, but remained at low levels. There was a significant sale of gold from the SPDR gold ETF which assisted the fall. The discounts of London and New York to China widened quite heavily yesterday, but only to the extent that held the euro price of gold relatively steady.

Silver Leads Gold In Rate Hike Cycle

May 23, 2017
By SilverSeek

Since Chinese New Year buying peaked in February, gold has essentially traded sideways with a mild upside bias. Here’s why: Indian dealers are waiting for the government to announce the GST rate for gold, and it’s too early for them to begin stocking up for Diwali. So, the price discovery ball is now in the US central bank’s court. I’ll dare to suggest that most gold market investors don’t fully understand the relationship between interest rates, money velocity, and gold.

The US Dollar Breakdown Clears The Way For A 70s Style Silver Rally

May 23, 2017
By SilverSeek

On the chart, I have marked two fractals (1 to 3). Both fractals exist in similar conditions – relative to the relevant Dow/Gold ratio peaks (1966 and 1999), as well as Dow peaks. Both fractals span over the period of the first phase of the silver bull market during the 70s and the current era (2001 to 2017), respectively. If the comparison is justified, then the US Dollar index will fall significantly during the coming months. Given the fact that silver has traditionally had its strong rallies…

Silver Market Morning: May 23 2017 - Gold nudging overhead resistance ahead of a strong move!

May 23, 2017
By SilverSeek

What is true is that COMEX has a turnover of 2.1 billion ounces of ‘paper gold’ [Gold derivatives – Options and Futures] Of this between 1% and 5% is actual gold bullion, whereas all of Shanghai’s gold trade is physical gold bullion. i.e. COMEX trades between 653 tonnes and 3,266 tonnes to Shanghai’s almost 14,000 tonnes annually. COMEX’s turnover is far closer to 653 tonnes of physical gold bullion than 3,000 tonnes. This makes New York only 5% of Shanghai’s physical gold bullion turnover.

Silver Market Morning: May 22 2017 - Gold continues consolidating in a narrowing range ahead of a strong move!

May 22, 2017
By SilverSeek

Today’s gold price is all about a weaker dollar. But the dollar is barely changed against the Chinese Yuan. The dollar took a hammering over the weekend falling to lows on the index that we have not seen for a long time. If the dollar continues to fall, as we expect, the dollar gold price will look strong. Technically, we see higher gold prices, but are keeping our eyes on overhead resistance to see if we can expect a breakout.

Silver Market Morning: May 19 2017 - Gold consolidating in a narrowing range!

May 19, 2017
By SilverSeek

When we look back at the actions of Modi and his government in India and on gold, since he came to power, we see that Indian governments are still unhappy with gold in the country and will always be. This is not a small problem for that government, when you consider that the total gold holdings of the world’s central banks is around 34,000 tonnes, private citizens and institutions in India hold around 24,000 tonnes, an amount that is rising by around 1,000 tonnes a year.

Silver: Train Leaving Station Soon!

May 18, 2017
By SilverSeek

Silver prices are rising along the bottom of a 20 year log scale trend channel (shown later). There are no guarantees in a manipulated paper market, such as COMEX silver, but it is possible that silver prices will collapse further, or more likely, move substantially higher, sooner rather than later. Silver prices COULD fall from their current level of $16 – $17 to under $10.

Bill Murphy: Silver – The Only Commodity 66% Cheaper Than 37 Years Ago!!

May 18, 2017
By SilverSeek

I ask how could a commodity or any product that is bought and sold on planet earth be 66% cheaper than in 1980. The evidence above demonstrates how that is possible. The only remaining question is – why is silver the kryptonite to the banking and financial system? Gold, while the market has been proven to be rigged as well, has at least been able to climb higher than in 1980. The current global “price” of gold does not reflect it’s true value, however, it is still higher than 37 years ago…

Silver Market Morning: May 18 2017 - Gold going stronger in all currencies!

May 18, 2017
By SilverSeek

On the evidence above, New York hit gold’s peak price in the day, first, then Shanghai rose to meet it and London opened at the same level. In an extraordinary picture ALL THREE GLOBAL GOLD MARKETS ARE AT THE SAME PRICE. This is the first time we have ever seen this happen. While we used the dollar as the measuring currency, we note that the gold price is the same in all markets, so currencies, today are not the influence.

Silver Market Morning: May 17 2017 - Gold going stronger in the dollar, weaker in the euro!

May 17, 2017
By SilverSeek

We have to see just how far this is a war between the media and Trump and just how far it is a real crisis. If it is Trump, the dollar will recover once his crisis is resolved, whenever that is. If it is the dollar itself, gold will benefit over a much longer period as the dollar faces a more fundamental crisis. This fundamental crisis can always be linked to the rise of the Yuan or the falling oil prices or more fundamental crises. If the current weakness of the dollar is due to a structural…

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