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LBMA-COMEX collusion intensifies as CME approves 267 LBMA gold and silver bar brands

August 24, 2020

In a move which has gone entirely unnoticed in the precious metals markets, but which signals gold and silver bar delivery constraints for the COMEX gold and silver futures contracts, Chicago Mercantile Exchange Group (CME), operator of the New York based COMEX, has quietly and under the radar, hugely expanded its lists of eligible refinery gold and silver bar brands that can be delivered against the massively traded flagship GC 100 (100 oz gold) and SI (5000 oz silver) contracts. These…

The "Speculative Bubble" in Gold and Silver

August 19, 2020

Just because prices have been rallying, the market generalists and their sycophant media have been pushing the idea that gold and silver are somehow in a "speculative bubble". However, even just a quick, basic review of the COMEX market internals reveals that this is nothing but lazy misinformation.

Scotiabank Will Pay $127.4 Million to Settle Silver Spoofing Claims

August 19, 2020

Bank of Nova Scotia agreed to pay $127.4 million to settle U.S. allegations that the company engaged in spoofing of gold and silver futures contracts, and made false statements to the government. As part of the accord, Bank of Nova Scotia will pay a $17 million fine on Commodity Futures Trading Commission claims that it dramatically misrepresented the scope of the alleged wrongdoing. The bank made multiple false statements during the CFTC’s investigation of a spoofing case that was…

Missed the gold rush? There’s a SILVER lining!

August 17, 2020

"Silver is likely to continue its outperformance,” Manoj Jain, Director / Head of Commodity and Currency Research, Prithvi Finmart, told NDTV. He added that “The dollar value is on the decline as US growth is at an all-time low. Discovery of a Covid-19 vaccine will lead to a rebound in global industrial activity and push silver rates still higher." Gold, which is a traditional safe-haven asset at a time of economic uncertainty and a hedge against inflation, is also likely to do…

As silver trades near seven-year highs, here’s why investors continue to pile in (CNBC)

August 14, 2020

But silver has seen even bigger percentage gains in recent weeks.  “It seems like silver is going for the gold medal,” said Mobeen Tahir, associate director of research at exchange-traded product provider Wisdom Tree.  The silver spot price, it’s real-time value, reached $29 an ounce last week, according to Reuters data. It has since pulled back slightly but still stands at almost $27 an ounce. This represents a seven-year high and a gain of nearly 39% since mid-July when the…

Precious Metals Update Video: Big rally again in Silver

August 14, 2020

The thing that bothers me are the wide ranges, which is hard to manage risks as a trader.

Silver for immediate delivery climbs most since December 2014 (Bloomberg)

August 13, 2020

Silver for immediate delivery climbed as much as 8.7% to $27.7207 an ounce, the biggest intraday increase since December 2014. The metal rose 2.9% on Wednesday and slumped 15% on Tuesday. The Bloomberg Dollar Spot Index headed for a second straight decline. “The dollar index broke down a bit today, but there’s a lot of people that are on the sidelines that are looking to get back in and are chasing back into gold and silver right now,” Phil Streible, chief market strategist at Blue Line…

Biggest Discount Since 2008 Opens Up in $16 Billion Silver ETF (Bloomberg)

August 13, 2020

Silver’s wild ride this week is driving the steepest discount since 2008 in the world’s biggest ETF tracking the metal. BlackRock Inc.’s $16.2 billion iShares Silver Trust exchange-traded fund, ticker SLV, plunged 14% on Tuesday alongside spot prices. However, the ETF tracks the London Bullion Market Association’s silver price -- which is calculated once a day at an auction and was little changed. The result was a more than 11% discount between SLV and its underlying holdings as the…

Silver dives over 13%, biggest daily decline since Oct. 2008, as equities surge (Reuters)

August 11, 2020

  * Gold on track for worst day since June 2013 * Silver plunges 13.8%, biggest daily decline since Oct. 2008 * U.S. PPI rebounded more than expected in July * Gold is down over $100 since Monday’s close

Silver Crashes Most Since Lehman Bankruptcy (zerohedge)

August 11, 2020

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