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Silver Market Update

August 03, 2014
By Chris Mullen, Chief Content Manager

We called the exact top in silver to the day in the last update 3 weeks ago, as it has since reacted back. Although a brief relief rally now looks likely, the still extreme COT readings suggest that silver has just put in an intermediate top. On its 6-month chart we can see how it has reacted back from the peak to arrive at an area of support at its principal moving averages, with its earlier overbought condition having completely unwound. This set of circumstances makes a bounce likely…

Silver Market Morning

August 04, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,293.30 up $11.20 on Friday in New York. In Asia and early London, prices held at $1,293.80 as the euro rallied to $1.3424. The gold price was Fixed at $1,293.50 up $9.00 and in the euro at €963.573 up €4.418, while the euro was up at $1.3424. Ahead of New York’s opening, gold was trading at $1,291.90 and in the euro at €962.88.

Silver Market Morning

August 05, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,293.30 the same as Friday in New York. In Asia and early London, prices slipped to $1,291 as the euro fell back to $1.3394 from $1.3424. The gold price was Fixed at $1,292.75 down $0.75 and in the euro at €965.027 up €1.454, while the euro was weaker at $1.3406. Ahead of New York’s opening, gold was trading at $1,292.50 and in the euro at €965.07.

Silver Market Morning

August 06, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,288.10 down $5.20 in New York. In Asia and early London, prices recovered to $1,292 as the euro fell back to $1.3370 from $1.3394. The gold price was Fixed at $1,288.50 down $4.25 and in the euro at €964.266 down €o.761, while the euro was weaker at $1.3362. Ahead of New York’s opening, gold was trading at $1,289.40 and in the euro at €965.37.

Silver Pyramid Power

August 06, 2014
By Chris Mullen, Chief Content Manager

Global annual silver production is approximately 820,000,000 ounces or a bit more than 25,000 metric tons. What does that mean in terms that we can more easily understand?

Huldra Silver Announces Drawdown of Fourth Tranche of Credit Facility

May 24, 2012
By Chris Mullen, Chief Content Manager

Huldra Silver Inc. (HDA.V, HUSIF.PK) (the "Company" or "Huldra") announces that it has completed the drawdown of the fourth tranche of the $10 million credit facility entered into with Waterton Global Value, L.P. ("Waterton") in June 2011. The principal amount of the fourth tranche is $2.5 million.

Silver Market Morning

August 07, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,306.40 up $18.30 in New York. In Asia and early London, prices held those levels as the euro held around $1.3377. The gold price was Fixed at $1,302.00 up $13.50 and in the euro at €973.531 up €9.265, while the euro was at $1.3374 reflecting a slightly stronger euro. Ahead of New York’s opening, gold was trading at $1,307.50 and in the euro at €977.20 pointing to a stronger gold price in New York.

Government Silver or Private Mint Silver?

August 07, 2014
By Chris Mullen, Chief Content Manager

I was chatting with one of the owners of GoldSeek Mint and we thought it would be interesting to run a poll to see what type of Silver bullion investors preferred? Do they like Government Silver or Private Mint Silver? Silver bullion investors are a very special bunch of people. We actually have a name for our community, “Silver Bugs”.

Silver Market Morning

August 08, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,311.60 up $5.20 in New York. In Asia and early London, prices rose further to $1,319.00 as the euro held those levels as the euro held around $1.3383. The gold price was Fixed at $1,317.50 up $15.50 and in the euro at €984.017 up €10.486, while the euro was stronger at $1.3389. Ahead of New York’s opening, gold was trading at $1,317.20 and in the euro at €983.46 pointing to a stronger gold price in New York.

Silver Market Morning

August 11, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,311.40 down 20 cents on Friday in New York. In Asia on Monday gold prices were down at $1,306 ahead of the opening in London. The euro was at $1.3392 with a wide spread. The gold price was Fixed at $1,308.25 down $9.25 and in the euro at €977.327down €6.69, while the euro was at $1.3386. Ahead of New York’s opening, gold was trading at $1,309.90 and in the euro at €978.16.

Markets: Keep calm and carry on

August 11, 2014
By Chris Mullen, Chief Content Manager

At the end of July global equity bull markets had a moment of doubt, falling three or four per cent. In the seven trading days up to 1st August the S&P500 fell 3.8%, and we are not out of the woods yet. At the same time the Russell 2000, an index of small-cap US companies fell an exceptional 9%, and more worryingly it looks like it has lost bullish momentum as shown in the chart below. This indicates a possible double-top formation in the making.

SilverCrest Announces Completion of Mill Commissioning Major Milestone Achieved as Growth Continues

August 11, 2014
By Chris Mullen, Chief Content Manager

SilverCrest Mines Inc. (the "Company") (SVL.TO)(NYSE MKT:SVLC) is pleased to announce that the new 3,000 tonne- per-day ("tpd") mill and facilities (CCD-Merrill Crowe recovery) at its 100% owned Santa Elena Mine has been successfully commissioned. The commissioning period began in early May, 2014, and planned for 3 months of ramp-up, which was completed as of August 1, 2014. The Santa Elena Mine is currently transitioning from an open pit heap leach operation to a conventional 3,000 tpd…

The world’s worst ‘open secret’

August 11, 2014
By Chris Mullen, Chief Content Manager

In my view, the manipulation (more accurately, “suppression”) of precious metal prices is the most recognized “open secret” in markets today. That is, virtually everyone who participates in the markets that set PM prices understands - takes for granted - that prices are capped and will not be allowed to rise above a certain price point.

Don't be surprised if silver is the target.

August 11, 2014
By Chris Mullen, Chief Content Manager

Russia took some very stern retaliatory steps this past week in response to being sanctioned, sanctioned again, and sanctioned further for good measure. Up until this point, Mr. Putin had remained somewhat restrained and I would say almost stoic in his responses by never trying to "one up" the sanctions, only matching them so far. This may have now changed and unfortunately for the West, Russia's retaliation is coming at a poor time.

Silver Market Morning

August 12, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,309.10 down $2.30 cents on Monday in New York. In Asia on Tuesday gold prices eased slightly to $1,307.50 ahead of the opening in London. The euro began to fall again and stood at $1.3368. The gold price was Fixed at $1,311.00 up $2.75 and in the euro at €982.759 up €5.432, while the euro was weaker at $1.334. Ahead of New York’s opening, gold was trading at $1,311.80 and in the euro at €983.43.

Fortuna Reports Consolidated Financial Results for the Second Quarter 2014

August 12, 2014
By Chris Mullen, Chief Content Manager

Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI) (F4S.F) today reported revenue of $44.3 million, cash generated from operations, before changes in working capital of $15.1 million and net income of $2.9 million in the second quarter of 2014.

Silver Market Morning

May 25, 2012
By Chris Mullen, Chief Content Manager

New York closed higher at $1,559.50 and in London’s early morning rose to $1,563.55. The euro was slightly stronger in London at €1: $1.2582. It Fixed at $1,560.50 and in the euro at €1,240.658. Ahead of New York’s opening gold stood at $1,560.32 and in the euro, €1,240.26 while the euro was at €1: $1.2582.

Silver Market Morning

August 13, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,309.70 up 60 cents on Tuesday in New York. In Asia on Tuesday gold prices eased slightly to $1,307.50 ahead of the opening in London. The euro began to fall again and stood at $1.3368. The gold price was Fixed at $1,309.25 down $1.75 and in the euro at €980.418 down €2.341, while the euro was at $1.3354. Ahead of New York’s opening, gold was trading at $1,308.90 and in the euro at €979.46.

First Majestic Reports Second Quarter Financial Results

August 13, 2014
By Chris Mullen, Chief Content Manager

"Production in the second quarter, marking another record, increased for the ninth consecutive quarter. Costs continue to improve and remain a primary focus. The bulk of our capital intensive projects are winding down; some by design and some by choice in order to preserve cash during these challenging times."

Santacruz Silver Announces Appointment of Chief Operating Officer

August 13, 2014
By Chris Mullen, Chief Content Manager

Santacruz Silver Mining Ltd. (SCZ.V) (the "Company" or "Santacruz") is pleased to announce the appointment of Mr. Robert Byrd to the position of Chief Operating Officer of the Company effective August 11, 2014. Mr. Byrd will report directly to the President and CEO of the Company, Mr. Arturo Préstamo.

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