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Silver Market Updates

Silver Market Morning: Aug-23-2016 -- Gold and silver prices being moved on exchange rates only

August 23, 2016
By SilverSeek

The market in gold remains sensitive to exchange rate moves and to purchases and sales in the gold ETFs There is little else of substance to move these prices currently. Janet Yellen is due to speak today, but is expected to remain dovish on rate hikes. Hence the better tone in the gold market. China has been given the OK to issue an S.D.R. bond, purchasable in Renminbi only, by the World Bank. This new bond issuance is 2 billion SDRs which is equivalent to $2.8 billion.

Silver Analysis

August 20, 2016
By SilverSeek

As I have been noting of late, both gold and silver have been trapped in sideways trading patterns for some time now, meaning that there really has not been a whole lot worth saying about the price action in either metal. That MIGHT POSSIBLY be changing in regards to silver. The reason is simple – price is down at the very bottom of the sideways trading range that has been intact for nearly seven weeks.

Market Report: Rothschild buys gold

August 19, 2016
By SilverSeek

The gold price rose $11 from last Friday’s close to trade at $1347 early in European trade this morning, while silver declined 14 cents over the same period to $19.57. Volumes on Comex have dropped off noticeably this month, consistent with the holiday season. However, these are the conditions which favour the bullion banks, allowing them to take over pricing control. When the speculators are on holiday, prices can be marked down unchallenged, allowing the bullion banks to close down their…

Silver Market Morning: Aug-19-2016 -- Gold and silver prices being moved on exchange rates only

August 19, 2016
By SilverSeek

It was a rapidly weakening Yuan exchange rate against the dollar that was responsible for dollar gold prices to fall. The combination of the Yuan price of gold and the move in the Yuan exchange rate affecting dollar gold prices this way, is just what the Shanghai Gold Exchange wanted. When they established the Fix an accompanying statement made it clear that it was not just to give SGE gold prices but to promote the use of the Yuan in such dealings. Here it is!

What Surging Mining Stocks Mean for Metals Markets

August 18, 2016
By SilverSeek

Gold and silver mining stocks have embarked on a rally this year that could prove to be one for the record books. The leading exchange traded fund for the sector, VanEck Vectors Gold Miners (NYSE:GDX), shows an incredible 125% year-to-date gain. That far out-surpasses the 27% and 44% advances of gold and silver spot prices, respectively. What does the mining stock run-up suggest about the fundamentals for the actual mined product, physical gold and silver?

Silver Market Morning: Aug-18-2016 -- Gold and silver prices pushing resistance!

August 18, 2016
By SilverSeek

The Fed Minutes described a split in the FOMC, but where the ‘hawks’ sat was on the non-voting side and the ‘doves’, led by Janet Yellen, sat on the voting side. The factors affecting the ‘doves’ were global influences as well as productivity, alongside wages. We can see that while the U.S. economy appears solid, the growth is low and not accompanied by a ‘healthy’ level of inflation. Hence the market views a rate hike in September with only a 21% likelihood and a hike early next year at a 50%…

Silver Market Morning: Aug-17-2016 -- Gold and silver prices steady in the euro weak in the dollar!

August 17, 2016
By SilverSeek

Again Shanghai was higher than New York’s closing but London decided to walk its own road at the opening, opening lower at $1,341. The reason London pulled gold prices down before the opening in London was the continuing ‘strength of the euro/weakness of the dollar, as you can see in the euro gold prices below.

Silver Market Morning: Aug-16-2016 -- Gold and silver prices trying to break higher on a weaker dollar!

August 16, 2016
By SilverSeek

Shanghai was higher than London’s opening and much higher than New York’s close. London opened at $1,350 whereas as you can see, the p.m. Fix in Shanghai was at nearly $1,354. Shanghai’s physical demand is greater than New York’s paper demand today. U.S. physical demand via the gold ETFs was absent yesterday.

Silver Market Morning: Aug-15-2016 -- Gold and silver prices still consolidating!

August 15, 2016
By SilverSeek

As the time approaches when the Yuan becomes one of the world’s ‘hard’ currencies it is meeting the definition of being widely traded in the global monetary system. Just to what extent remains to be publicized. Certain Capital Controls still persist but the silence on this ahead of the incorporation of the Yuan in the IMF’ Special Drawing Rights is deafening.

Silver Market Morning: Aug-12-2016 -- Gold and silver prices consolidating!

August 12, 2016
By SilverSeek

Shanghai took the gold price closing in New York higher more in line with the higher Shanghai price the day before. London then ignored Shanghai prices and opened at New York’s close. At the moment we are seeing a small battle between the developed world centers and Shanghai the physical market. This battle can be resolved provided the arbitrageurs in the market do their job. They can’t move gold but can adjust their positions with currency plays.

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