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Silver Market Updates

Silver Market Morning: Nov-1-2016 -- Gold price rising from new support!

November 01, 2016
By SilverSeek

Growth in international trade is slowing, as describe by shipping statistics. It is the first time since World War II that trade with other nations has declined during a period of economic growth. Sluggish global economic growth is both a cause and a result of the slowdown. It is a structural phenomenon that will be much longer term and deflationary.

Silver Market Morning: Oct-31-2016 -- Gold price breaking up through resistance!

October 31, 2016
By SilverSeek

Once again, take a look at the last three days of Shanghai gold Fixings. Allow for the different qualities of gold being priced and you see Shanghai prices higher than New York and London. On Monday London opened in line with Shanghai then prices began to pull back through the morning. Allowing for Shanghai pricing of higher quality gold the prices were lower in London by $4 during the morning up to the LBMA price setting.

Market Report: PMs find support

October 28, 2016
By SilverSeek

This sideways trading pattern could end with a break to the upside, because the euro is drifting lower. Note that the euro comprises 57% of DXY. The reason this is important is a strong dollar worries the Fed. The Fed is desperate to limit the deflationary effects of a rising dollar, and believes that the appalling trade deficit is due to the dollar being very over-valued. So if DXY goes much higher, we can probably dismiss the possibility of an increase in the Fed Funds Rate in December.

Silver Market Morning: Oct-28-2016 -- Gold price consolidating!

October 28, 2016
By SilverSeek

Take a look at the last three days of Shanghai gold Fixings. Allow for the different qualities of gold being priced and you see Shanghai holding higher than New York and London. And this is in the face of heavy sales of physical gold from the U.S. We need to watch this pattern and see if there are more ‘bear raids’ to come?

Silver Market Morning: Oct-25-2016 -- Gold price moving higher!

October 25, 2016
By SilverSeek

Demand from China remains strong as we see above, with another higher price level in Shanghai. New York tries to hold back prices but is begrudgingly being pulled higher by Shanghai and in the face of heavy SPDR sales, the day before yesterday. So is it a strong dollar or a weak Yuan? Certainly the People’s Bank of China is taking advantage of the dollar’s strength to weaken the Yuan, seemingly, without it being accused of currency manipulation.

Silver Market Morning: Oct-24-2016 -- Gold price consolidating heavy SPDR gold ETF sales!

October 24, 2016
By SilverSeek

Demand in China is strong, as expressed in Yuan prices in Shanghai. This will pull gold into China from London. Only the People’s Bank of China buys ‘London Good Delivery’ [0.995 quality.]. Switzerland re-refines London’s gold into higher quality [0.9999], half a percent better quality. We expect a resumption of the flow of the highest quality gold into the Far East, that’s both China and India.

Market Report: Finding support

October 21, 2016
By SilverSeek

This is small bear, and not much evidence of better conditions. However, with predominantly bearish commentators, excepting of course the gold bugs who are always bullish, it ranks as a credible performance. Furthermore, open interest on Comex has fallen substantially from the peak on July 11, leaving the market moderately oversold. This commentator is also convinced that some portfolio exposure, as opposed to purely speculative trading, is being maintained in rolling futures positions, so we…

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.

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