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Silver Market Updates

Silver Market Morning: Oct-21-2016 -- Gold price consolidating with positive bias!

October 21, 2016
By SilverSeek

Shanghai kept the gold price in line with New York’s close, as did London. A correction now is healthy as the gold price is turning higher. As you can see below, purchases of around 3.5 tonnes of gold into gold ETF’ were seen in the U.S. but dealers decided that this would not reflect in the gold price, for now. These moves in the gold price remain small in percentage terms, so we cannot read too much into them.

Silver Market Morning: Oct-20-2016 -- Gold price consolidating with positive bias!

October 20, 2016
By SilverSeek

Once again, New York’s close and London’s opening was very close. But again Shanghai spent the day well above their prices by $5 and more. Having worked with successful arbitrageurs in London in the past, we can clearly see that through the International Shanghai Gold Exchange arbitrage in gold is not just feasible but practiced.

Silver Market Morning: Oct-19-2016 -- China leading the gold price higher!

October 19, 2016
By SilverSeek

New York’s close and London’s opening was barely different. But Shanghai spent the day well above their prices by $5 and more. But as London’s morning progresses we saw the gold price jump over $1,270. This implies that the ‘premium’ in Shanghai is not a premium but a more accurate pricing of gold, as London quickly followed, then led Shanghai higher at the price setting of the LBMA this morning.

Silver, Debt, and Deficits – From an Election Year Perspective

October 18, 2016
By SilverSeek

It is an election year. We should anticipate 8 years of upcoming trauma, following nearly 8 years of “hope and change,” after 8 years of “no nation building,” after 8 years of “I did not have sexual relations with that woman.” Examine the official US national debt in 8 fiscal year increments (10/1/84 – 9/30/92 etc.) using linear and log scales.

The Importance of The Deutsche Bank Silver Fix Lawsuit Settlement

October 18, 2016
By SilverSeek

This post is intended to remind you that this case is not about the present and it's not about the $38MM dollars. Instead, the true significance of this lawsuit will be on display over the coming months and years as innumerable new class action lawsuits are filed against The Bullion Banks for their collective role in rigging and manipulating the precious metals markets.

Silver Market Morning: Oct-18-2016 -- Gold and silver moving up, China taking control of the gold price!

October 18, 2016
By SilverSeek

The difference between New York’s close and Shanghai’s gold prices is gaining momentum. Yesterday and today there is a $10 difference, commonly referred to as the ‘premium in Shanghai. Such a comment implies that Shanghai has to add on an amount because gold is less available there and must wait for imports to even out prices. But the reality is that China has more than enough physical gold to satisfy the market on ‘normal’ days.

Silver Market Morning: Oct-17-2016 -- Gold and silver still waiting to run either way!

October 17, 2016
By SilverSeek

Shanghai is holding the gold price higher than both London and New York. After New York’s close on Friday Shanghai lifted it $8.5 as the Yuan weakened. It remains in a very narrow trading band around $1,260. This morning London pulled it back in the morning to $1,252 before turning it higher. We continue on the brink of a strong move either way.

Market Report: Markets steady

October 14, 2016
By SilverSeek

On Comex, gold’s open interest has now fallen a long way, from a high of 657,776 contracts on 11 July, to a current level of 495,457. This represents a destruction of a little over 500 tonnes of paper gold, worth $20.4bn. It is a substantial number obviously, and brings open interest down to the approximate levels that pertained at the end of May. Since that time, longer-term investors have become net buyers of gold in ETF form, and are also maintaining rolling long positions in the futures…

Silver Market Morning: Oct-14-2016 -- Gold and silver ready to run either way!

October 14, 2016
By SilverSeek

It is now clear to most observers that the People’s Bank of China wants the Yuan lower and is encouraging a ‘controlled’ devaluation over time. They are keen not to have a howling condemnation of a lower Yuan so are moving slowly, although compared to efforts by the E.U. and Japan to drive their currencies lower their actions are extremely restrained.

Silver Market Morning: Oct-13-2016 -- Gold and silver consolidating positively!

October 13, 2016
By SilverSeek

China continues to hold higher gold price levels than New York or London, but today we are seeing London opening at Shanghai’s levels. Shanghai continues to reflect physical demand as the Yuan continues to weaken. We forecast a falling Yuan with 7.00 by year’s end close to the beginning of the year and pointed out it would accelerate it fall after becoming a currency used in the SDR. It is doing this now.

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