loading
loading

Backwardation in Gold And Silver

May 16, 2012
By Chris Mullen, Chief Content Manager

On Monday, May 14, something happened that hasn’t happened since Dec of 2008. Two successive near-month precious metals futures contracts were in backwardation at the same time. To oversimplify, backwardation is when the price of a futures contract is lower than the price in the spot market.

April 29: Gold and Silver End Barely Lower While Miners Gain

April 29, 2014
By Chris Mullen, Chief Content Manager

Gold fell $10.16 to $1286.44 in late Asian trade before it rebounded to $1300.40 at about 9:30AM EST, but it then drifted back lower into the close and ended with a loss of 0.04%. Silver slipped to as low as $19.324 and ended with a loss of 0.51%.

Excellon reports net earnings of $1.9 million from first quarter 2014

April 29, 2014
By Chris Mullen, Chief Content Manager

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report financial results for the three-month period ended March 31, 2014.

Silver Market Morning

April 30, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,296.10 down $0.50 on yesterday, in New York. In Asia it was being pulled back to $1,293 just ahead of London’s opening, once again. In London it was Fixed this morning at $1,292.00 up $2.25 and in the euro at €934.674 up €4.655 as the dollar strengthened to $1.3823 before slipping slightly to $1.3834 ahead of the opening of New York, when gold stood at $1,292.30 and in the euro at €934.15.

Excellon reports results of annual meeting of shareholders

April 30, 2014
By Chris Mullen, Chief Content Manager

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report that shareholders voted in favour of all items of business, including the election of each director at the 2014 Annual General Meeting (the "Meeting") held on April 29, 2014.

Silver Market Morning

May 01, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,290.4 down $5.70 on yesterday, in New York. In Asia it was being pulled back to $1,283. London is closed today. The dollar weakened to $1.3880 nearly half a cent lower. Ahead of the opening of New York, gold stood at $1,286.10 and in the euro at €926.65.

Silver Market Morning

May 02, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,284.90 down $5.50 on yesterday, in New York. In Asia it was being pulled back to $1,283 again and holding in London. The dollar recovered to $1.3858, 0.2 of a cent. The gold price was Fixed in London at $1,285.00 and in the euro at €927.262 while the euro was at $1.3858. Ahead of the opening of New York, gold stood at $1,287.00 and in the euro at €928.64.

May Decline in Gold and Silver Stocks Would Create Opportunity

May 02, 2014
By Chris Mullen, Chief Content Manager

Last week we noted that the gold and silver shares had formed a short-term rebound in response to an oversold condition. Yet we felt that the downtrend that originated from the hard reversal in March was still in effect. As we go to publish, the rebound appears to be petering out. Be aware that there is more potential downside in May. The good news is a decline in May will likely create a great buying opportunity at the end of the month and in June.

Gold and Silver continue to drift

May 02, 2014
By Chris Mullen, Chief Content Manager

Gold kicked off the week at just over $1300 before declining to a low of $1278 yesterday. Most of the time prices just moved sideways, drifting lower from time to time to test support. And when support materialised, the price quickly reacted upwards, because no bullion bank really wants to sell; instead they are trying to close short positions as profitably as possible.

Institutions Mislead The Public About Silver Investment Demand

May 02, 2014
By Chris Mullen, Chief Content Manager

There's a lot of shortsighted and incorrect silver analysis out there, so it's imperative that you consider the information in this article. CPM Group just announced the release of their 2014 Silver Yearbook. In their statement they implied that "Net Global Silver Investment" declined in 2013, while fabrication demand increased.

Manipulation 101 ... The Pithy Version

May 02, 2014
By Chris Mullen, Chief Content Manager

The goal of The Powers That Be is to keep the grassroots masses from reaching an "orientation" that values precious metals over paper dollars that are backed only by the "full faith and credit" of U.S. Government.

Silver Market Morning

May 17, 2012
By Chris Mullen, Chief Content Manager

New York bounced back to $1,550 yesterday and Asia and London held it in that region today ahead of the gold Fix. The euro was weaker at €1: $12707. This morning in London, gold Fixed at $1,547.00 and in the euro at €1,217.439 up €10. Ahead of New York’s opening it looked slightly weaker at $1,546.50 and in the euro, which also continued to slip, €1,217.81 while the euro was at €1: $1.2699.

Silver Market Morning

May 05, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,298.30 in a $13.40 rebound on Friday, in New York. In Asia and London it was being lifted strongly to $1315.00. London was closed so we watch to see just how New York will play gold. The euro stood at $1.3874. Ahead of the opening of New York, gold stood at $1,311.65 and in the euro at €945.65.

SilverCrest Announces Commencement of Mill Commissioning At Santa Elena

May 05, 2014
By Chris Mullen, Chief Content Manager

SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC)(NYSE Amex:SVLC) (the "Company") is pleased to announce a major milestone for the Company with the commissioning of the new 3,000 tpd CCD-MC processing plant now underway at its 100% owned Santa Elena Mine in Sonora, Mexico. The scheduled three year Expansion Plan to transition from an open pit heap leach operation to a conventional mill and underground mine is nearing completion. The US$99 million program including drilling, Pre-Feasibility Study,…

Silver Market Morning

May 06, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,310.50 up $12.20 yesterday, in New York. In Asia and London it held those levels ahead of the Fixing. The euro weakened to $1.3926. The gold Fixing was set at $1,308.50 and in the euro at €939.609. Ahead of New York’s opening the gold price stood at $1,307.45 and in the euro at €938.15.

Silver Market Morning

May 07, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,307.80 down $2.70 yesterday, in New York. In Asia the gold price was lifted to $1,313 and London held those levels ahead of the Fixing. The euro weakened to $1.3926. The gold Fixing was set at $1,311 up $2.50 and in the euro at €942.081 up €2.472. Ahead of New York’s opening the gold price stood at $1,311 and in the euro at €941.13.

Silver Market Morning

May 08, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,289.40 down $18.40 yesterday, in New York. In Asia and London the gold price held above $1,290 as the dollar continued to weaken against all currencies ahead of the Fixing. The euro weakened to $1.3944. The gold Fixing was set at $1,291.25 down $19.75 and in the euro at €926.026 down €16.055. Ahead of New York’s opening the gold price stood at $1,290 and in the euro at €926.16.

Silver Market Morning

May 09, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,289.20 down only $0.20 yesterday, in New York. In Asia and London the gold price lifted back to $1,291. The gold Fixing was set at $1,289.00 down $2.25 and in the euro at €933.246 up €7.22 while the euro stood at $1.3812 nearly 2 cents down from the week’s peak. Ahead of New York’s opening the gold price stood at $1,289.40 and in the euro at €933.33.

Silver Market Morning

May 12, 2014
By Chris Mullen, Chief Content Manager

The gold price closed at $1,288.70 down only $0.50 on Friday, in New York. In Asia and London the gold price hovered around $1,289 and $1,290. The gold Fixing was set at $1,292.75 up $3.75 and in the euro at €938.953 up €5.707 while the euro stood at $1.3768 weaker by half a cent. Ahead of New York’s opening the gold price stood at $1,294.65 and in the euro at €940.96.

Fortuna Reports Consolidated Financial Results for the First Quarter 2014

May 12, 2014
By Chris Mullen, Chief Content Manager

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2014) - Fortuna Silver Mines Inc. (FSM)(FVI.TO)(FVI)(F4S.F) today reported record revenue of $45.5 million, cash generated from operations, before changes in working capital of $16.9 million and net income of $4.9 million in the first quarter of 2014.

Newsletter Signup

Join the Free Weekly Silver Review!
SilverSeek.com week in review delivered direct to your inbox!