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Silver Market Updates

Market Report: Massive falls in PMs

October 07, 2016
By SilverSeek

This currency mayhem comes at a time when it is obvious that central banks have failed in their monetary policies to achieve any of their economic objectives. Investors, who have been content to go with the central banks’ flows and routinely invest in financial assets are now faced with a quandary. Do they now assume that easy money policies, including QE, will be abandoned, replaced perhaps by a strong dollar/weak euro/weak yen/weak sterling as a new coordinated monetary policy? Supporting…

Silver Market Morning: Oct-6-2016 -- Gold and silver looking for a bottom still!

October 06, 2016
By SilverSeek

The evidence is out. 3.2 million ounces of gold futures, not gold, were traded in the first few minutes after New York opened the day before yesterday. This is what caused the fall triggering stop losses. What all physical gold investors find hard to swallow is the gold prices were affected by no physical dealing. Virtually none of these contracts ever reach maturity but are closed before they do so, so no physical gold changes hands.

Silver Market Morning: Oct-5-2016 -- Gold and silver looking for a bottom!

October 05, 2016
By SilverSeek

We hear on one side that the reason for the fall in the gold price came from hawkish comments by a non-voting member of the FOMC, but that seems unlikely to us. We also heard that ‘rumors’ of a gradual termination of the E.C.B.’s quantitative easing program, but that needs more solid evidence for that to be believable.

October 4: Gold and Silver Fall Over 3% and 5%

October 04, 2016
By SilverSeek

Gold held near unchanged in Asia and London, but it then fell throughout most of trade in New York and ended near its late session low of $1267.04 with a loss of 3.4%. Silver slipped to as low as $17.726 and ended with a loss of 5.15%.

Key Breakdowns after Silver’s Final Reversal

October 04, 2016
By SilverSeek

The end of the previous week was rich in signals as gold, silver and mining stocks all reversed along with the USD Index. Gold closed the week below the rising support line and the implications should not be ignored even by those who usually focus on fundamentals alone. Why? Because in the short- and medium term, the important technical developments will shape the price – not the fundamentals.

Gold and Silver Market Morning: Oct-4-2016 -- Gold breaks down through $1,300!

October 04, 2016
By SilverSeek

The Technical picture shows a break down through support and is now looking for the bottom or are we there now? We do know that at these levels there are many buyers just waiting to get in once a bottom is found. With China in its ‘Golden Week’ of holidays there is little drive to take gold prices higher at the moment. Even U.S. based gold ETFs are now seeing no demand [just small sales].

Willem Middelkoop: The SDR Has Arrived and Silver Should Expect to See Shortages in the Market

October 03, 2016
By SilverSeek

The renminbi was added to the SDR (Special Drawing Rights) basket of currencies on Saturday October 1, 2016. Nothing changed, the dollar didn’t blow apart and the world is still functioning as normal. Why? Because the people, around the world, still accept their currencies issued by the central bank in their respective country. We will not see any changes to the system until the next crisis. The next crisis could come today, tomorrow or fifteen years from now. The next crisis will be slowed,…

Deutsche Fuels Silver

October 03, 2016
By SilverSeek

Last week, it was the Fed’s magic boosting up the price of silver. This week, the slow slide in the silver price resumed, going all week except during peak fear about the woes of Deutsche Bank. When it looked bleakest—and the potential size of the capital-eating fines was highest—there was a wicked little rally in the metals, spiking silver up from below $19.10 to $19.70 in a few hours. However, the price reversed just as fast, on news of a settlement with the US Department of Justice.

Silver Market Morning: Oct-3-2016 -- Gold and silver struggling at support!

October 03, 2016
By SilverSeek

Once again we see lower prices dominating while Shanghai is on holiday. New York prices dominate when China is closed. The Yuan is now part of the SDR of the IMF, for the Chinese an important step on the way to international acceptability as a global currency. We expect to see its use accelerate from now on. Today’s Yuan exchange rate is merely academics because of the holiday there.

Market Report: Option expiry and Deutsche Bank

September 30, 2016
By SilverSeek

This week, a collapse of Deutsche Bank was openly discussed in the general media, and there are signs that institutional depositors in wholesale money markets have begun to minimise their exposure. The result is that DB’s shares on Wall Street last night dropped 7% into new low ground and continued this weakness overnight (Thursday/Friday) into the Frankfurt opening in heavy volume.

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