Silver Headlines

Hidden silver found at castle occupied by Nazis; Diary may lead to more treasures

Included in the 103 silver objects that were discovered were homeware, including goblets and cutlery. They were primarily made in Austria or Poland, the news outlet added.

Silver climbs just over 2% for the week

Peter Spina, president and chief executive officer at GoldSeek.com, referred to the forecast as a “strong promotion from Goldman Sachs,” following sideways trading for gold in the last couple of months.

Silver on track for second weekly gain

Goldman Sachs raised its three, six and 12-month estimates for silver to $19, $21 and $22 per ounce

The U.S. bank also raised its three, six and 12-month estimates for silver to $19, $21 and $22 per ounce from $13.5, $14 and $15 per ounce, respectively. 

Montreal Police search for Suspects in $10M Silver Heist

In January, a container holding 596 bars of silver was stolen from a LaSalle transportation company by suspects who allegedly used fake documents to take possession of the items.

Powell repeats Fed to use full range of tools to aid economy

With a full U.S. economic recovery out of reach until the coronavirus pandemic is brought to heel, the Federal Reserve will use its “full range of tools” to cushion households and businesses, Fed Chair Jerome Powell told lawmakers on Wednesday.

U.S. Treasuries saw second month of heavy foreign selling in April: foreigners sold $176.7 Billion

On a transaction basis, foreigners sold $176.703 billion in Treasuries in April, compared with sales of $298.910 billion in March, the U.S. Treasury Department said.

The Fed says it is going to start buying individual corporate bonds, ability to buy up to $750 Billion

Under the latest guidelines, the Fed said it will buy, on the secondary market, individual bonds that have remaining maturities of five years or less. Those purchases will go along with the ETFs the Fed already has been buying, which are balanced toward investment-grade indexes but also include some junk bond funds that track debt which had been investment grade before the crisis but had been downgraded after.

All Systems Go: Silver And Platinum

Summary Silver and platinum are witnessing material buying the last several months, as represented by a number of technical indicators. Federal Reserve money printing has reached record levels in 2020, and Congress is looking into a 4th round of stimulus to offset the coronavirus recession. We may be close to a global monetary reset for the U.S. dollar, akin to the end of the WW2 Bretton Woods system during the early 1970s. The lagging monetary/industrial metals may perform smartly into…

Fed sees interest rates staying near zero through 2022

The Federal Reserve voted Wednesday to keep benchmark short-term rates near zero. In addition to the rates move, the Fed said it would keep buying bonds, targeting $80 billion a month in Treasurys and $40 billion in mortgage-backed securities. On the economy, the Fed sees GDP tumbling 6.5% in 2020 but bouncing back to a 5% gain in 2021.