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Silver Market Morning

July 03, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,326.90 up 10 cents on Wednesday in New York. In Asia prices dropped to $1,321 ahead of the London Fix which was set at $1,322.50 down $4.25 and in the euro at €968.581 down €2.401, while the euro stood almost unchanged at $1.3654. Ahead of the opening in New York the gold price was trading at $1,323.10 and in the euro at €969.06.

THE COMING TWO-STAGE RALLY IN SILVER

July 03, 2014
By Chris Mullen, Chief Content Manager

As the MSM, Wall Street and various so-called analysts waste time focusing on worthless and insignificant data, the price of silver is positioning itself for the coming TWO-STAGE RALLY. The majority of the precious metals analysts discuss the revaluation of silver as it pertains to the amount of fiat currency in the system.

Silver Market Morning

July 04, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,319.60 down $7.30 Thursday in New York. In Asia prices rose to $1,321 ahead of the London Fix which was set at $1,321.50 down $1.00 and in the euro at €972.335 up €3.754, while the euro was weaker at $1.3591 down over half a cent. Thereafter, gold held at roughly the same level being moved by dealers and arbitrageurs in line with the $: € exchange rate, clearly unimpressed by the success of the American Revolution.

Market Report: Underlying strength

July 04, 2014
By Chris Mullen, Chief Content Manager

Gold and silver spent most of the week consolidating recent gains by moving broadly sideways, but their underlying strength was a notable feature. The first chart is of gold and its open interest on Comex.

Silver Market Morning

July 07, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,319.60 on Friday in New York. In Asia prices pulled back to $1,312 ahead of the London’ opening. In London it began to recover through $1,314 after the dollar, initially slightly stronger began to weaken again. The Fix gold was set at $1,313.25 down $8.25 and in the euro at €965.838 down €6.497, while the euro was weaker at $1.3597. Ahead of New York’s opening, gold was trading at $1,313.80 and in the euro at €966.88.

Silver Market Morning

July 09, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,319.70 10 cents higher than Tuesday in New York. In Asia, prices rose to $1,323.00 ahead of the London’ opening. London held the gold price around that level then the Fix was set at $1,322.50 up $4.25 and in the euro at €971.712 up €2.482, while the euro was slightly stronger at $1.3610. Ahead of New York’s opening, gold was trading at $1,323.80 and in the euro at €972.56.

Silver Market Morning

July 10, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,327.70 up $8.00 on Wednesday in New York. In Asia, prices rose to $1,329.00 ahead of the London’ opening. London took the gold price up to $1,343.25 at the Fix up $20.75 and in the euro at €985.221 up €13.509, while the euro was stronger at $1.3634. Ahead of New York’s opening, gold was trading at $1,342.70 and in the euro at €986.19.

Fortuna Reports Production of 1.6 Million Ounces of Silver and 8,519 Ounces of Gold for the Second Quarter 2014

July 10, 2014
By Chris Mullen, Chief Content Manager

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 10, 2014) - Fortuna Silver Mines Inc. (FVI.TO)(FSM)(F4S.F)(FVI) is pleased to announce second quarter production figures from its two 100 percent owned operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver, 8,519 ounces of gold and significant base metal by-products. Silver and gold productions for the first six months of the year totaled 3.2 million and 16…

Swap Dealers ‘Goal Line Stand’ for COMEX Silver Futures in Jeopardy, Squeeze Very Possible Now

July 10, 2014
By Chris Mullen, Chief Content Manager

A sure-enough short squeeze might be developing in the volatile silver market. We attempt to identify who, or rather which class of futures trader, might be squeezed in this brief offering.

Asset Boom & Inflation Ahead?

July 10, 2014
By Chris Mullen, Chief Content Manager

The “price” of anything is a measurement of something just as a “mile” is a measurement of something. A mile measures distance, a “gallon” measures volume and a “pound” measures weight. But because the actual “value” of a currency can fluctuate, the “price” of the food in the grocery store to the “price” of a share of a stock exchange can move up and down without a change in value of the item itself.

Silver Market Morning

May 22, 2012
By Chris Mullen, Chief Content Manager

New York closed higher at $1,593.00 and at London’s early morning fall back to $1,578. The euro was stronger at the time London at €1: $1.28 before falling back to €1: $1,2776. It Fixed at. The euro was weaker at €1: $12770, where it was when the morning Fixing took place. In the dollar it Fixed at $1,575.75 and in the euro at €1,233.947. Ahead of New York’s opening gold looked almost the same at $1,575.50 and in the euro, €1,235.67 while the euro was at €1: $1.2750.

Silver Market Morning

July 11, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,335.80 up $8.10 on Thursday in New York. In Asia, prices rose to $1,337.00 ahead of the London’ opening. London held the price around that level then Fixed at $1,336.50 down $6.75 and in the euro at €981.782 down €3.439, while the euro was weaker at $1.3613. Ahead of New York’s opening, gold was trading at $1,336.80 and in the euro at €982.55.

Silver Up 10.3% YTD - Outperformance To Continue

July 11, 2014
By Chris Mullen, Chief Content Manager

Gold and silver saw gains yesterday on concerns about instability in the Middle East and the risk of contagion coming from Espirito Santo, the large Portuguese bank. A possible default has sent government bonds of Europe’s most indebted nations and bank and other stocks tumbling, showing how fragile confidence in the Eurozone banking system and sovereign debt markets is.

Market Report: The ghost of bail-ins past returns the financial stage

July 11, 2014
By Chris Mullen, Chief Content Manager

Gold and silver had a good week after the US holiday last Friday. From a low of $1312 on Tuesday, gold rose to a high point of $1345 yesterday, and silver from $20.84 to $21.60. Open interest is climbing too for both metals, as shown in the following charts.

COMEX Silver Traders in Commitments of Traders (COT) Mexican Standoff, Short Squeeze Remains Likely

July 12, 2014
By Chris Mullen, Chief Content Manager

We believe there are two classes of large traders dominating the battle underway for price discovery in the COMEX futures market for silver bullion. We point to the mercenary Swap Dealers on one side of the battlefield – figuratively dug in and short selling futures in obscene numbers as we have been documenting in these GGR pages.

Silver Market Morning

July 14, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,337.70 up $1.90 on Friday in New York. In Asia and early London, prices mysteriously plummeted to $1,321.00.The gold price was Fixed at $1,321.25 down $15.25 and in the euro at €969.867 down €11.915, while the euro was at $1.3623. Ahead of New York’s opening, gold was trading at $1,321.60 and in the euro at €969.95.

Fortuna Intercepts 854 g/t Ag and 5.0 g/t Au Over 3.3 m in Trinidad North Step-Out Drilling at the San Jose Mine, Mexico

July 14, 2014
By Chris Mullen, Chief Content Manager

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 14, 2014) - Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI) (FRANKFURT:F4S.F) is pleased to announce results for additional step-out drilling of the Trinidad North discovery located contiguous with the San Jose Mine in Oaxaca, Mexico. Results are included for eleven drill holes completed from April through June of 2014, confirming that the high-grade silver-gold mineralization remains open along strike to the north and to depth.

New Record of 3.86 million Silver Eqv. Ounces Produced in Q2; Announces Spin-out of Non-Core Exploration Properties

July 14, 2014
By Chris Mullen, Chief Content Manager

First Majestic Silver Corp. ("First Majestic" or the "Company") is pleased to announce that total production at its five operating silver mines in Mexico for the second quarter ending June 30, 2014 reached a new quarterly record of 3,855,224 equivalent ounces of silver, representing an 18% increase compared to the same quarter in 2013.

Brazen

July 14, 2014
By Chris Mullen, Chief Content Manager

Brazen. This is the first word that came to mind when I checked today’s silver prices on Silverseek.com, Synonyms for “brazen” include “bold” or “fearless.” To me the word connotes an attitude that one is going to do what one wants and doesn’t care what anyone else thinks. There’s an arrogance, a cockiness or perhaps even an air of desperation I associate with brazen acts and those who commit them.

Silver Market Morning

July 15, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,306.70 down $31 on Monday in New York. In Asia and early London, prices began to recover rising to $1,310 ahead of London’s opening. The gold price was Fixed at $1,312.00 down $9.60 and in the euro at €965.203 down €4.664, while the euro was weaker at $1.3593. Ahead of New York’s opening, gold was trading at $1,311.60 and in the euro at €964.80.

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