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Silver & Gold Seeker Report #35: This Week In Mining: Production Numbers Overload

This was another week full of production results from gold and silver producers. This is far and away the most companies I’ve ever seen reporting quarterly production numbers instead of waiting until earnings. Again, this is likely because investors who know production numbers ahead of earnings could lead to buying earlier, pushing up stock prices.

Gold and Silver Set for a Breakout?

October 15, 2020

Silver has taken a lot of signal for gold and while more volatile. The news cycle effecting gold has resulted in a number of false breakouts for silver that caught a number of technical traders by surprise. We have seen a breach of the long established trend support line that never turned in to a further move to the downside and a break to the topside as traders tried to digest and second guess the stimulus package news. Today silver is looking a bit heavy and another close below trend…

Silver an “Obvious Beneficiary” from Government Stimulus (GoldSeek)

The best performing precious metal for the week was silver, up 5.97 percent, perhaps related to Goldman Sachs suggesting investors go long with the boost seen from a greater expansion of solar energy. Gold rose for a second straight day on Thursday on hopes that Congress will provide another round of stimulus for the economy. The yellow metal was then up 2 percent on Friday morning on a weaker U.S. dollar.

Silver’s Best Quarter Since 2010, up a massive 27.62 percent

Silver had its best quarter since 2010, up a massive 27.62 percent for the three months ended September 30. Gold also had a strong quarter, up 5.89 percent despite a weak September. Holdings in gold-backed ETFs saw an eighth straight quarter of expansion. So far in 2020 they have added around 860 tons.

Kootenay Silver Drills 1.5 m of 773 g/t Ag at Columba

James McDonald, President and CEO of Kootenay stated: “We are excited about the resource and grade potential of these breccias and stockworks because they offer potential for both high grades and large tonnages.

JPMorgan Admits Spoofing by 15 Traders, Two Desks in Record $920 million Deal

September 29, 2020

Over eight years, 15 traders at the biggest U.S. bank caused losses of more than $300 million to other participants in precious metals and Treasury markets, according to court filings on Tuesday. JPMorgan admitted responsibility for the traders’ actions. The Justice Department filed two counts of wire fraud against the bank’s parent company but agreed to defer prosecution related to the charges, under a three-year deal that requires the bank to report its remediation and…

Silver Seeker Report #32: This Week in Mining; A Much Needed Healthy Correction

This was a volatile week to say the least but in a bull market this should be expected, especially after the metals essentially went straight up from March through early September. The mining equities sold off far more heavily and are trading with implied gold prices around $1,550-$1,625/oz. (depending on the company). If you learn to embrace these violent pullbacks, your returns could higher. For example, had you taken some profits in August or so, you would have been able to buy back the…

Former Deutsche Bank traders convicted of trying to manipulate gold and silver prices

September 27, 2020

Prosecutors behind a sweeping US crackdown on market “spoofing” scored a big win on Friday when former Deutsche Bank traders Cedric Chanu and James Vorley were convicted of fraud for manipulating gold and silver prices. A federal jury in Chicago, after three days of deliberations, concluded Mr Chanu and Mr Vorley made bogus trade orders between 2008 and 2013 to illegally influence precious metals prices. The week-long trial was the latest US prosecution of a “spoofing” case since the…

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