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Silver, Gold, and What Could Go Wrong

April 15, 2014
By Chris Mullen, Chief Content Manager

Richard Russell thinks the stock market is currently dangerous and that silver and gold are safe. He understands that gold and silver are eternal wealth with NO counter-party risk. What is counter-party risk? It is the risk that paper wealth is not real, that debts will not be paid, that dollars, yen, and euros will decline in purchasing power, that your employer will declare bankruptcy and your pension will be cut in half, that your brokerage account will be hypothecated by management, that…

Silver Market Morning

April 15, 2014
By Chris Mullen, Chief Content Manager

After Mario Draghi’s confirming that he wants to see a weaker euro, the market has obliged by pulling it back from its recent peak just under $1.40: €1 to $1.38: €1. If gold is moved in the same way as gold, we come to $1,307. This is where the gold price is now. We did not see selling of gold to press the gold price down, but dealer’s adjustment of prices in line with the dollar’s strength. Like the waves on the seashore the gold price fell but we believe this will bring in Asian buyers…

First Majestic Announces US$30M Forward Sale Contract on Lead Production

April 15, 2014
By Chris Mullen, Chief Content Manager

First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX - FR, NYSE - AG) is pleased to announce that it has entered into a US$30 million forward sale contract with Bank of America Merrill Lynch (BAML) on a portion of the Company's future lead production. All amounts are in U.S. dollars unless stated otherwise.

Silver Market Morning

April 16, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,302.90 down $23.80 Tuesday, in New York. Asia pulled it down to $1,295 initially before lifting it back to $1,300 ahead of London’s opening, where it rose to $1,304. The gold price was then Fixed in London at $1,299.00 down $12.50, because of the stronger euro. In the euro, it Fixed at €938.584 down €11.847 as the euro was stronger at $1.3840 down from $1.3800: €1. Ahead of the opening in New York gold stood at $1,302.90 and in the euro at €941.40.

David Morgan Interview on Silver Market, Silver Price Manipulation and the Coming Global Monetary Reset

April 16, 2014
By Chris Mullen, Chief Content Manager

Since there is a lot of talk about a potential gold re evaluation following an international monetary reset, I wanted to interview David Morgan, renowned silver market analyst, in order to have his views on a couple of topics, including silver evolution, silver manipulation, and the potential price of silver after a financial reset.

Silver Market Morning

April 17, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,303.10 down $0.20 on Wednesday, in New York. At Asia’s closed it was pulled it down to $1,297 initially at which price London opened. The gold price was then Fixed in London at $1,301.50 up $2.50, because of the stronger euro. In the euro, it Fixed at €941.615 up €3.031 as the euro went stronger at $1.3822 up from $1.3840: €1. Ahead of the opening in New York gold stood at $1,298.50 and in the euro at €936.80 as the euro weakened again to $1.3861.

Precious metals Market report

April 17, 2014
By Chris Mullen, Chief Content Manager

It wasn’t meant to be like this: six years of global money-printing should have guaranteed economic recovery. Until very recently, there was hope that finally the medicine was having some effect; but in the last few weeks investors have become noticeably more cautious. Is it Ukraine, or is it the slow-down in China? Whatever the story the truth is revealed in the chart of recent US bond prices shown below.

Santacruz Silver Announces First Quarter 2014 Production Results/ Ramp Up Program at Rosario Mine is on Schedule

April 17, 2014
By Chris Mullen, Chief Content Manager

Santacruz Silver Mining Ltd. (TSX VENTURE:SCZ) (the "Company" or "Santacruz") is pleased to announce first quarter 2014 production of 159,729 silver equivalent ounces from the Company's Rosario Mine in San Luis Potosi, Mexico. This production represents a 260% quarter over quarter increase as compared with Q4 2013 and demonstrates the Company is on schedule to meet its production target of between 850,000 to 1,100,000 silver equivalent ounces by the year-end 2014.

The Dark Side Of The Silver Mining Industry

April 21, 2014
By Chris Mullen, Chief Content Manager

There is an insidious Dark Side to the silver mining industry that goes unnoticed by the majority of investors and analysts. Actually, I haven't come across one mining analyst who puts out comprehensive data on this very subject for the silver mining industry.

Extorre Reacts to Current Market Conditions and Announces Further High Grade Drilling Results at Cerro Moro

May 16, 2012
By Chris Mullen, Chief Content Manager

"One drill rig remains on the infill drilling program on our principal prospects, namely Zoe, Escondida, Loma Escondida and Gabriela. Our aim is to ensure that the drilling density is sufficient in areas that would fall within the first two years of a potential mining scenario (at 1300 tonnes per day) to estimate "indicated mineral resources". This program is nearing completion, with the drilling at Zoe, Loma Escondida and Gabriela essentially complete."

Silver Market Update

April 21, 2014
By Chris Mullen, Chief Content Manager

Silver’s recent rally was feeble compared to gold’s, and the retreat that followed has already erased all of the gains made, and already brought it back close to key support at its June and December lows, as we can see on its 1-year chart below. This much lower high and recent preponderance of downside volume are negatives that portend a severe test of this support and its possible failure soon. However it should be noted here that failure of this support won’t necessarily lead to a severe…

Silver Up & S&P Down

April 22, 2014
By Chris Mullen, Chief Content Manager

Silver has had three bad years while the S&P has had 5 good years. It is time for both markets to reverse. Examine the following graph of Silver versus the Silver to S&P ratio. It tells me the ratio has returned to levels seen in 2008 and that the ratio follows the price of silver. This is interesting but not that helpful.

A game-changer the ‘peons’ could control

April 22, 2014
By Chris Mullen, Chief Content Manager

Of this we can be sure: China WILL keep accumulating record amounts of precious metals. Why, one asks, would China suddenly reverse course and change a policy that it has now been aggressively pursuing for years? Such a scenario would not/does not make sense.

Santacruz Silver Announces Trading on OTCQX

April 23, 2014
By Chris Mullen, Chief Content Manager

Santacruz Silver Mining Ltd. (TSX VENTURE:SCZ)(SZSMF) (the "Company" or "Santacruz Silver") is pleased to announce that its common shares will commence trading on the OTCQX marketplace in the U.S., effective April 23rd, under the ticker SZSMF. Trading on OTCQX is designed to provide current and future U.S.-based shareholders with greater access and ease to trading the Company's shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Santacruz Silver on www…

Gold Nugget Interview: Mr. Brendan Cahill, CEO & President, Excellon Resources (TSX: EXN | US: EXLLF)

April 28, 2014
By SilverSeek

Mr. Cahill was previously Vice President Corporate Development of Pelangio Exploration Inc., a junior gold exploration company active in Ghana, West Africa. Prior to Pelangio, Mr. Cahill was a lawyer in the M&A and corporate securities practices at Davies Ward Phillips & Vineberg LLP. At Davies, he advised on public and private transactions valued at over $15 billion, including Barrick's acquisition of Placer Dome in 2005. He also advised on public offerings totaling over $2 billion dollars for…

FMQ Update and valuing gold

April 25, 2014
By Chris Mullen, Chief Content Manager

 In the two months since my last update on USD Fiat Money Quantity, it has increased by $292bn to $12.861 trillion and is still growing rapidly as shown in the chart below.It is now 70.6% above where it would have been if it had grown at the long-term pre-banking crisis average monthly compound rate, represented by the red line in the chart.The reduction in the monthly rate of QE does not appear to have slowed the growth rate of FMQ. Indeed, the objective is for QE to be supplemented and…

Are ‘dollar bugs’ insane? Blind?

April 25, 2014
By Chris Mullen, Chief Content Manager

I’m not only an avid reader of precious metals articles on the Internet, I also love to read the reader comments that follow. This morning, I was struck by the comments that followed a brief interview with Peter Schiff (conducted by a reporter on The Wall Street Journal’s “marketwatch” website).

Silver Market Morning

April 28, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,292.90 down $10.20 on the previous Friday, in New York. In the last week it was pushed back to support just above $1,280 but recovered in Asia and London to Fix this Monday morning at $1,302.00 and in the euro at €938.446 down only €3.169 on the last 11 days. The euro itself stood at $1.3874 half a cent stronger than 11 days ago. Ahead of the opening in New York gold stood at $1,301.00 and in the euro at €937.79.

Silver Market Morning

April 29, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,296.60 up $3.70 on yesterday, in New York. It was not showing any independent moves, simply moving with the dollar. In Asia it was being pulled back to $1,293 just ahead of London’s opening. In London it was Fixed this morning at $1,289.75 down $12.25 and in the euro at €930.019 down €6.805. The euro itself stood at $1.3868 barely changed. Ahead of the opening in New York gold stood at $1,290.40 and in the euro at €930.20.

Fortuna Intercepts 2.6 kg/t Ag and 10.8 g/t Au Over 3 m at Trinidad North Discovery, San Jose Mine, Mexico

April 29, 2014
By Chris Mullen, Chief Content Manager

Fortuna Silver Mines Inc. (FSM) (FVI.TO)(FVI.TO)(F4S.F) is pleased to announce additional results for step-out drilling of the Trinidad North discovery located contiguous with the San Jose Mine in Oaxaca, Mexico. Assay results are included for eight drill holes completed in March and April of 2014. The results continue to confirm the extension of the Trinidad North zone with high-grade silver-gold mineralization present over wide vein widths. The results reported herein lie within a 230 meter…

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