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Silver Market Updates

Silver Market Morning: Jan 30 2017 - Gold and Silver holding up well while Shanghai closed!

January 30, 2017
By SilverSeek

On Friday in New York, there were sales of gold from the Gold Trust of 0.45 of a tonne, not enough to affect the gold price, which rose on the first day of the Lunar New Year, much to our surprise, as we saw the day as opportune for the bears to strike. Instead, bullish positions on COMEX rose as did the price of gold.

Market Report: Consolidating the rise so far

January 27, 2017
By SilverSeek

The timing of the slight pull back is, surprise, surprise, just before futures option expiration, when the takers who have sold options doubtless wish to see calls with strikers at $1200 and less expire worthless. They have their wish, and on the week gold this morning in early European trade stood at $1182.50, down $28, and silver at $16.70, down 38 cents.

Silver Market Morning: Jan 27 2017 - Gold and Silver weaker after options and Shanghai closed!

January 27, 2017
By SilverSeek

Shanghai was closed today until next Friday for the Lunar New Year celebrations. Yesterday it traded between 268 and 266.80 but the Fixes have not been released today. This equates to $1,212.38 and dropping to $1,206.95 Which was in line with London then, before New York took it down further as Options were closed.

Silver Market Morning: Jan 26 2017 - Gold and Silver weakening on options and Shanghai closing!

January 26, 2017
By SilverSeek

Shanghai was trading today around 266.80 Yuan or in dollars, at today’s exchange rate, $1,206.95. The dollar was weaker across the board, but only slightly against the Yuan. We correct ourselves and inform you that today is the last trading day before the ‘Year of the Rooster’ celebrations, which begin tomorrow and end next Thursday. Business will continue next Friday, there.

Silver Market Morning: Jan 25 2017 - Gold and Silver consolidating!

January 25, 2017
By SilverSeek

Shanghai was trading today around 268.75 Yuan or in dollars, at today’s exchange rate, $1,215.58. The dollar was stronger across the board, as well as against the Yuan. With only two more trading days before the celebration of the ‘Year of the Rooster’ begins we may well see last minute buying or a tapering off of demand. It is impossible to forecast which.

Silver Market Morning: Jan 24 2017 - Gold and Silver consolidating!

January 24, 2017
By SilverSeek

Shanghai was trading today just above 270 Yuan or in dollars, at today’s exchange rate, $1,226,15 having touched nearly 272 during the day. The dollar is only slightly weaker across the board, as well as against the Yuan. New York, Monday, closed in line with gold prices in Shanghai earlier in the day, before New York opened. This is a first, as New York climbed up to Shanghai’s levels despite an over 2 tonne sell-off from the SPDR gold ETF.

Alasdair Macleod: Silver, Gold and Commodities in 2017

January 23, 2017
By SilverSeek

China launched the One Belt One Road (OBOR) project 5+ years ago and made their first rail delivery in February 2016. China has been stock piling commodities, especially base metals, like copper and steel, for the past 2+ years in order to produce all the finished goods necessary to construct the largest infrastructure the world has ever seen. In 2016 we witnessed close to a doubling of the market price for iron ore and Alasdair sees this trend continuing into 2017.

Silver Market Morning: Jan 23 2017 - Gold and Silver rising against the dollar!

January 23, 2017
By SilverSeek

New York, on Friday closed at only a $4.60 discount to prices in Shanghai on Friday and London opened on Monday $12.00 higher than Shanghai. Shanghai is, once again driving prices despite the stronger Yuan against the dollar. It demonstrates that gold is rising against all currencies today and in all gold markets.

Market Report: Bear squeeze continues

January 20, 2017
By SilverSeek

This week saw some consolidation of the rise in gold and silver prices since the start of the year. This is hardly surprising, because in four weeks, gold has risen from an intraday low of $1122.9 through $1200 with very little consolidation. Therefore, to tick back from $1219 to find support at the $1200 is only to be expected.

Silver Market Morning: Jan 20 2017 - Gold and Silver consolidating around $1,200!

January 20, 2017
By SilverSeek

Some may feel that because London is the main physical market in the developed world it supplies China exclusively. Yes, the world’s main bullion banks are based in London, but they operate in both centers. Their hold over supply is far less than most believe. For instance the Rand Refinery in Johannesburg South Africa will sell to any buyer including the Chinese directly. It does not have exclusive agreements with the world’s main banks, as it had in 1974 with the three main Swiss Banks [the …

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