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Silver Market Updates

Silver Market Morning: Mar 10 2017 - Gold consolidating after the Jobs report!

March 10, 2017
By SilverSeek

The demand for gold in Shanghai at the moment is not sufficient to lift its own prices let alone those of New York or London, as we see above. This is in the face of a weakening Yuan. The head of the People’s Bank of China stated that the Yuan exchange rate will remain stable going forward. We are always wary of central bank statements on exchange rates, because history shows that such statements are usually way off the mark.

13 Stunning Visualizations of Silver Put Global Debt Into Perspective

March 09, 2017
By SilverSeek

Although gold has a bigger reputation today as a monetary metal, it was often deemed too valuable for everyday transactions throughout history. For the most part, common people in places like Ancient Rome used silver to buy daily staples like grain or wine. As a result, silver has a strong reputation through monetary history as the “people’s money”. Even today, silver is still much more widely accessible. With one ounce of gold being 70x more expensive than an ounce of silver, it’s difficult…

Silver Market Morning: Mar 9 2017 - Gold drifting looking for a bottom!

March 09, 2017
By SilverSeek

At the close in Shanghai today, the gold price was trading at 272.01 Yuan once again, which directly translates into $1,224.15. But allowing for the difference of gold being traded this equates to a price of $1,219.15. This is $10.45 higher than the New York close and $14.15 higher than London.

Silver Very Undervalued from Historical Perpective of Ancient Greece

March 09, 2017
By SilverSeek

– What wages in ancient Athens can tell us about the silver price today – Wages paid in silver in ancient Athens compared to wages today – Silver massively undervalued compared to the past few thousand years

More Bad News for the LBMA Silver Price, but an Opportunity for Overhaul

March 08, 2017
By SilverSeek

On Friday 3 March 2017, in a surprise announcement with implications for the global silver market, the London Bullion Market Association (LBMA) informed its members that the current administrator and calculation agent of its recently launched LBMA Silver Price auction, Thomson Reuters and the CME Group respectively, will be pulling out of providing their services to the problematic London-based silver price benchmark within the near future. Thomson Reuters and the CME Group issued identical…

Silver Market Morning: Mar 8 2017 - Gold drifting!

March 08, 2017
By SilverSeek

At the close in Shanghai today, the gold price was trading at 274.02 Yuan once again, which directly translates into $1,234.34. But allowing for the difference of gold being traded this equates to a price of $1,229.34. This is $13.54 higher than the New York close and $16.74 higher than London.

Silver Market Morning: Mar 7 2017 - Gold waiting for the rate hike!

March 07, 2017
By SilverSeek

At the close in Shanghai today, the gold price was trading at 275.50 Yuan once again, which directly translates into $1,242.23. But allowing for the difference of gold being traded this equates to a price of $1,237.23. This is $11.23 higher than the New York close and $13.08 higher than London.

CME, Thomson Reuters step down from providing London silver benchmark

March 03, 2017
By SilverSeek

CME Group and Thomson Reuters are to step down from providing the LBMA silver price benchmark auction, the London Bullion Market Association said on Friday, less than three years after they successfully bid to provide the process.

Market Report: Silver hammered

March 03, 2017
By SilverSeek

On Comex, the large four traders category late in February was net short about 78,000 contracts, while the managed money category was net long 77,000 contracts. We won’t know for sure how this jumbo sale has effected this balance until the Commitment of Traders report for the current period is issued on 10th March. But it appears that one of the large four (it had to be one of them because of the size of the transaction) took the view that flaky hedge funds, in aggregate net long of what they…

Now that the silver rig is as obvious the gold rig, will anyone else speak out?

March 02, 2017
By SilverSeek

Central banks gave their gold game away in April 2013 when they used the futures markets to knock the price down by more than $200 with relentless selling over several days. The selling had to be inspired by central banks because there was no important relevant news in the market to spook investors and because nobody else would have had access to the huge amounts of metal and capital involved.

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