• Gold: 1,511.49 -2.75
  • Silver: 17.11 -0.00
  • Euro: 1.109 -0.000
  • USDX: 98.142 -0.094
  • Oil: 54.91 0.14

It's Time to Get Serious about Silver

3 days 9 hours ago

Start laying in some physical gold and silver. There is compelling evidence that as the price reaches about $26, a major resistance point from years' past, "the public" – your friends and neighbors – will finally decide to join the crowd. With such a relatively small market you can be certain, assuming availability, both the price and the premiums will be much higher than they are today. So what's the point of waiting?

May 14: Gold and Silver Fall as Dollar Reverses Higher

Gold gained $3.40 to $1322.30 in Asia before it chopped back to $1318.10 in early New York trade and then bounced back higher at times, but it then fell back off again into the close and ended with a loss of 0.41%. Silver slipped to as low as $16.499 and ended with a loss of 0.9%.

Incomplete silver COT analysis

During March and April a number of articles appeared at precious-metals-focused web sites describing the silver market’s Commitments of Traders (COT) situation as extremely bullish. However, this unequivocally bullish interpretation overlooked aspects of the COT data that were bearish for silver. Taking all aspects of the data into consideration, my interpretation at the time (as presented in TSI commentaries) was that silver’s COT situation was neutral and that the setup for a large rally was not yet in place.

May 11: Gold and Silver End Slightly Higher on the Week

Gold gained $5.30 to $1325.90 at about 8AM EST before it drifted back lower in New York, but it ended with a loss of just 0.13%. Silver rose to as high as $16.828 and ended with a loss of 0.3%.

Market Report: Gold Still Underwritten At $1300

Gold and silver refuse to sink below their established lower consolidation levels, despite dollar strength. As can be seen in our headline chart, silver has enjoyed a decent bounce since 1 May, and gold has held firm at $1300, up 5% from the December low. Since last Friday, gold is up $8 in early European trade this morning (Friday) at $1323, having spiked down to as low as $1304 on Wednesday. Over the same time-scale, silver is up 23 cents on balance at $16.75.

May 10: Gold and Silver Gain Roughly 1%

Gold climbed $10.90 to $1322.70 by midmorning In New York before it pared back heading into midday, but it then rallied back higher in afternoon trade and ended with a gain of 0.67%. Silver rose to as high as $16.75 and ended with a gain of 1.39%.

May 9: Gold and Silver End Mixed

Gold fell $9.60 to $1304.80 in Asia before it climbed up to $1317.30 in late morning New York trade and then drifted back lower into the close, but it ended with a loss of just 0.2%. Silver dropped down to $16.354 before it rallied back to $16.616 and then also fell back off again, but it still ended with a gain of 0.01%.

May 8: Gold and Silver Close Slightly Higher

Gold saw slight gains in Asia before it fell back to $1306.10 by a little after 10AM EST, but it then rallied back higher into the close and ended with a gain of 0.01%. Silver rose to as high as $16.519 and ended with a gain of 0.06%.

Purchasing Power – In Silver

Exponential increases in debt, spending, and social programs have a limited lifetime in our finite world. If something cannot continue, it will stop. An ugly reset is inevitable. Silver prices rise as the dollar is devalued. When priced in silver ounces, most commodity prices are stable. When priced in silver, debt and paper assets have risen since 1913 when bankers paid congress to approve the Federal Reserve. Silver has been money and a common currency for thousands of years. Treasury notes and digital dollars have been important for a few decades. The distinction is important.

May 7: Gold and Silver Hold Near Unchanged

Gold gained $4.80 to $1318.80 in Asia before it fell back to $1310.30 by a little after 8AM EST, but it then bounced back higher in New York and ended with a gain of 0.02%. Silver chopped between $16.568 and $16.404 and ended with a loss of 0.18%.

May 4: Gold and Silver End Slightly Lower on the Week

Gold dipped $2.90 to $1308.50 in Asia before it jumped up to $1315.20 after this morning’s jobs report and then quickly dropped back to $1308.20, but it then rallied back higher into the close and ended with a gain of 0.2%. Silver chopped between $16.342 and $16.504 and ended with a gain of 0.49%.

Market Report: FOMC Minutes Mark The Low

This week, gold and silver traded lower ahead of the FOMC minutes released on Wednesday. As widely expected, there was no change in the target for the Fed Funds Rate, which will probably be raised a quarter point in June. Yesterday, precious metals began to recover their poise, improving from the lows of earlier in the week.

May 3: Gold and Silver Gain Before Jobs Day

Gold gained $13.50 to $1318.00 in London before it pared back in New York, but it still ended with a gain of 0.53%. Silver rose to as high as $16.583 and ended with a gain of 0.31%.

May 2: Gold Ends Slightly Lower While Silver Rises Over 1%

Gold gained $6.50 to $1311.60 in Asia before it dropped back to $1304.10 in midmorning New York trade and then jumped up to $1313.20 after the release of today’s fed statement, but it then sold back off into the close and ended with a loss of 0.05%. Silver rose to as high as $16.511 and ended with a gain of 1.24%.

May 1: Gold and Silver Fall Before Fed Day

Gold dropped $12.80 to $1301.90 in late morning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.73%. Silver slipped to as low as $16.052 and ended with a loss of 0.86%.

April 30: Gold and Silver Fall Roughly 1%

Gold fell $13.40 to $1310.20 at about 10AM EST, but it then rallied back higher into the close and ended with a loss of just 0.67%. Silver slipped to as low as $16.198 and ended with a loss of 1.27%.

April 27: Gold and Silver Fall Almost 1% and 4% on the Week

Gold fell $1.90 to $1315.60 in Asia, but it then rallied back higher in London and New York and ended near its late session high of $1325.50 with a gain of 0.46%. Silver rose to as high as $16.564 and ended unchanged on the day.

April 26: Gold Seeker Closing Report: Gold and Silver Edge Lower While Stocks Gain

Gold fell $7.70 to $1315.40 by midday in New York before it bounced back higher into the close, but it still ended with a loss of 0.42%. Silver slipped to as low as $16.425 and ended with a loss of 0.24%.

April 25: Gold and Silver Fall Roughly 1%

Gold fell $12.50 to $1319.00 by a little after 8AM EST before it chopped back higher in New York, but it still ended with a loss of 0.63%. Silver slipped to as low as $16.503 and ended with a loss of 1.02%.

April 24: Gold and Silver Gain While Stocks Fall

Gold gained $3.50 to $1328.50 in Asia before it fell back to $1323.50 in London, but it then climbed to a new session high of $1332.60 in New York and ended with a gain of 0.49%. Silver chopped between $16.565 and $16.752 and ended with a gain of 0.6%.

April 23: Gold and Silver Fall Almost 1% and 3%

Gold fell $13.40 to $1322.20 in early afternoon New York trade before it edged back higher in the last couple of hours, but it still ended with a loss of 0.79%. Silver slipped to as low as $16.592 and ended with a loss of 2.92%.

Happy Anniversary, Silver Investors!

The silver volume that we saw last week was huge and we don’t mean only the one that accompanied the sizable daily price spike. The volume was huge also if we take the entire week into account. In fact, there was only a single week when silver rallied on volume that was bigger than what we saw during last week’s rally – ever. That was the 2011 silver top, when the emotions reached their zenith.

Market Report: Silver Is The Star

Having performed indifferently since the price fell in late January, the silver price suddenly broke out of its torpor with a 45-cent rise on Wednesday and peaked intraday yesterday at $17.36. Gold is still confined within its established trading range and is yet to break out.

Silver on the verge of a break out

Silver prices are trading almost 25% below the values predicted by our price model. This is the largest downside deviation we have seen in over 25 years. We believe this is the result of massive short selling in the futures market. In order to maintain this downward pressure on silver, speculators would have to continue to sell over 500 million ounces of paper silver per year. A reversal of this positioning could lead a >30% rally in silver prices in our view.

April 20: Gold Dips on the Week While Silver Rises Almost 3%

Gold fell $11 to $1335.00 in late morning New York trade before it bounced back higher at times, but it still ended with a loss of 0.77%. Silver slipped to as low as $17.044 and ended with a loss of 0.7%.

April 19: Gold Edges Lower While Silver Gains

Gold gained $6 to $1354.60 in Asia before it dropped back to $1341.10 in late morning New York trade and then bounced back higher into the close, but it still ended with a loss of 0.19%. Silver climbed up to $17.349 before it fell down to $17.074, but it quickly rebounded and ended with a gain of 0.41%.

Silver and NASDAQ – Long, Medium and Short Trends

Courtesy of the High-Frequency-Traders and a wave of digital “money printing” the NASDAQ closed at a new high on Friday the 24th – a 15 year high. Silver, on the other hand, has been crushed – the near all-time high was 4 years ago. In this tale of two markets, we examine the silver to NASDAQ ratio over the long and medium term for clues about their next major moves.

Can Gold Save the World From the Credit Bubble?

It has been reported that global debt is about $200 Trillion. Central banks supposedly hold about 30,000 tons of gold. If the total debt were backed by central bank gold at 40%, that would price gold about $80,000 per ounce. In the US, the official gold reserve, which has not been audited in about 60 years, is about 8,200 tons. Official national debt is about $18 Trillion. If the official gold backed the debt at 100%, the price of gold would be about $70,000 per ounce.

Controlling copper and silver prices

There is an unwarranted assumption that market prices are always right, and represent "fair value". In the case of commodities, particularly metals, this is not necessarily true, because regulated financial markets make it too easy for government agencies and large banks to game the system.

Dollar Danger Zone

China has purchased and imported a massive amount of gold bars in the past 5 years. The magnitude of the gold migration from the west to Asia has been obscured intentionally. Clearly the western central banks and governments do not want the world to know how much gold they have sold to China. China does not want to announce how much gold they have purchased, which might panic the gold market and elevate prices, making additional purchases more expensive. China’s gold hoard will become a threat to the reserve currency status of the dollar, a fiat currency backed only by “faith and trust.”

Silver Bullion Buying Outstripping Supply As JP Morgan ($JPM) Buys

- Silver one of most undervalued assets in world today - Fundamentals for silver market very strong - Total demand for silver outweighed supply by almost 22% last year - Industrial demand set to surge as solar energy projects are expanded - Artificially low prices have forced some mines out of business which may lead to a supply crunch - Smart money including JP Morgan acquiring silver - Silver to outperform assets including gold

SilverCrest Announces Q1, 2015 Financial Results Cash Flow from Operations of $7.3 million ($0.06 per share) Net Earnings of $2.5 million ($0.02 per share)

"We are pleased with the strong start to 2015. Santa Elena's record AgEq (3) production delivered solid Q1, 2015 financial results, generating cash flow from operations (1)(2) of $7.3 million and net earnings of $2.5 million . We are confident in Santa Elena's ability to continue to generate positive cash flows during 2015, notwithstanding the lower precious metals price environment. We are pleased our tight cost control measures and record production resulted in cash operating cost (1)(2) of $8.49 per AgEq (3) ounce sold and all-in sustaining cash cost (2) of $11.25 per AgEq(3) ounce sold.

House of Cards - Will it Collapse?

My thought: It is unwise to scramble in front of an oncoming steam-roller in search of dollar bills when real money, gold and silver, is still available at “bargain” prices.

An Insane Financial World

We know that war has been a nearly constant distraction since 9-11 and that a crisis is often used as a justification for economic insanity, such as borrowing more to address an excessive debt problem. It seems likely that weakening economies, deflationary forces, excessive debt, massive unemployment, riots, economic anxiety, consumer price inflation, and so much more, will require more distractions. We should “rig for stormy weather” and expect another crisis and more wars.

“Suicidal Credit-Based Money System”

The US national debt exceeds $18 Trillion, NOT including off-balance sheet items, Fannie and Freddie, and unfunded obligations such as future payments for military pensions, Social Security, Medicare, and more. Depending on who is counting, add another $100 - $200 Trillion in debt.

Lunch With Elvis

Elvis and I had lunch last week. We dined on Sasquatch burgers, fried Unicorn fritters, and we were joined by “the lone gunman.” We had our special luncheon in the main vault room of the Fort Knox Bullion Depository in Kentucky. It was practically empty so converting it to a dining area was relatively easy.

Silver Eagle Rationing Ends...at Just the Right Time!

Those of you who have followed my work know that I have been fighting for the original intent and purpose of the US Eagle Program to be upheld by the US Mint and the US Treasury. I have written countless letters to the Mint and Treasury proving that the rationing of US Silver Eagles was 100% against the law. Here was my first letter to the Treasury and Mint after they announced their original rationing plan...

Gold & Silver: The June Swoon

The month of June is typically a boring one for gold and silver price action, although the latter half of the month tends to be a bit better for gold. That’s the seasonal chart for silver, courtesy of Dimitri Speck. India is the world’s main market for silver, and demand shrivels a bit during the May – June timeframe. As a result, the silver price usually swoons, and frustrated investors can make irrational statements about this mighty metal.

Gold: Surviving the Last Few Months of the Bear Market

As most of you probably know by now, it’s been my belief for about a year that gold’s bear market would not end until at least testing the previous C-wave top at $1050. Every D-wave correction in the secular bull has at least retraced to the previous C-wave top except one.

National Debt - Or 1 is Too Many and 12 Are Not Enough

The Vietnam War in the US is often mentioned as a major cause of the inflationary 1970s. The war and spending escalated in the late 1960s after Johnson became President. The national debt increased about $20 Billion between 1967 and 1968, which was big money back then. But 11 years later the national debt increased by $80 Billion. Once deficit spending and currency devaluation began, it was difficult to return to fiscal sanity.

Here We Go Again -- Another Silver Short Sqeeze Looms

Back on April 15, we accurately projected that a major Spec short squeeze was brewing in the coming days. Nine days later, silver shot higher in a move of +14% in just over three weeks. Well, guess what. The conditions that created that move have returned and another significant short squeeze is right around the corner.

Silver Manipulation May Be The Most Extreme In History

The open interest in Comex silver hit another new all-time high yesterday. As of Wednesday’s final open interest report, the open interest in silver was 189.7k contracts. This is the highest the open interest has been based on data I have going back to April 2005.

Gold Versus The Status Quo

Gold has been a store of value for 1000s of years. You can’t purchase gasoline with gold but it has no counter-party risk and is valued world-wide. In contrast, paper and digital dollars, euros, pounds and yen are debt based fiat currencies backed only by the faith and credit of the governments and central banks which issued them. Devaluation and higher consumer prices are all but guaranteed.

150,000 Cigarettes or 3,275 ounces of Silver

When silver sells for $100 per ounce will cigarettes sell for $40 per pack? This isn’t as outrageous as it sounds. I remember buying Marlboros for 19 cents per pack back in ancient times. Cigarettes are about 35 times as expensive now as in my youth. The current price is $6.50 for a pack, and 35 times that price would be about $225 per pack. Outrageous! The loss of purchasing power in fiat currencies is also outrageous.

The Forgotten History (and Potential Future) of Silver as Money

In contemporary discussions of sound money, silver tends to get short shrift. Even among staunch sound money advocates, the historic role of silver as money is often marginalized or ignored altogether.

Comex Silver Is The Most Corrupted Market In History

The silver paper futures open interest is now officially over a 1 billion ozs., most of which represents a naked short position in silver. Never in the history of the markets has any futures market been this extraordinarily disconnected from the amount of underlying physical commodity that is available to deliver against those contract open interest.

The Silver Short Bubble

For the first time ever, total Comex silver open interest exceeded 200M contracts yesterday, settling at 200,273. This means that the coming Spec short squeeze is going to be violent and substantial. And why isn't anyone calling this a "bubble"?

Selling a 10 oz Silver Bar for $10 (When It's Worth $160) - EXPERIMENT -

Media analyst Mark Dice tries to sell a 10 ounce bar of .999 fine silver bullion for just $10 dollars outside of a coin shop in San Diego, CA. HINT- It's worth WAY more than that, but does anyone want it? You have to see this!

When Will US Debt Hit the Wall?

Total official US debt is over $18 Trillion but some of that is “Intragovernmental debt” – such as debt to the social security program. The remaining portion that is actually owed to pension funds, individuals, sovereign governments etc. is about $13 Trillion. It is increasing rapidly, thanks to out of control spending far in excess of revenues.

The Criminality of The Comex

How is this even legal? That's a serious question and I'd like a serious answer after the you read what is presented below. Immediately following the short squeeze in mid-May that resulted in a 10% price move in just five days, the "Large Specs" in silver set out to rebuild (or were tricked into rebuilding) a massive naked short position in Comex silver. As you can see on the chart below, over the past five weeks, these Large Specs have added 41,806 gross naked short contracts to their accumulated position.

It Takes A Village

This is a short story. It has a purpose. Bear with me. A long time ago and far, far away there was a village that was occasionally raided by outlaws who took food, jewels, and women. The villagers were understandably angry but could do little to protect themselves.

COMEX Silver Inventory Update: -43,019.34 ounces

COMEX Silver Inventory Update: -43,019.34 ounces

iShares Silver Trust: 9,696.71 tonnes

iShares Silver Trust: 9,696.71 tonnes

SilverCrest Reports 50m @ 151.8 gpt Ag Eq(i) at La Joya Main Mineralized Trend Continues to Expand

SilverCrest Mines Inc. (SVL.V)(STVZF)(STVZF) (the "Company") is pleased to announce the results of an additional 11 holes of the Phase II drill program currently underway at its La Joya Property in Durango, Mexico. The Phase II program is comprised of 80 holes totaling approximately 15,000 metres. Phase II drilling reported to date has extended the Main Mineralized Trend ("Trend") beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.

COMEX Silver Inventory Update: -306,445.300 ounces

COMEX Silver Inventory Update: -306,445.300 ounces

July 17: Gold and Silver End Slightly Lower

Gold climbed $9.20 to $1598.70 in Asia before it fell back to as low as $1571.63 by about 10:45AM EST, but it then bounced back higher midday and ended with a loss of just 0.49%. Silver saw a 31 cent gain at $27.62 in Asia before it fell back to $26.809, but it then climbed back near its earlier high and ended with a loss of just 0.22%.

iShares Silver Trust: 9,696.71 tonnes

iShares Silver Trust: 9,696.71 tonnes

COMEX Silver Inventory Update: -616,179.956 ounces

COMEX Silver Inventory Update: -616,179.956 ounces

Silver Market Morning

Gold closed in New York at $1,577.3 yesterday. Asia took it to $1,578.94 ahead of London’s opening. London’s morning Fix today was set at $1,580.00 up $1 on yesterday and in the euro at €1,287.064, while the euro stood at €1: $1.2276 up 20 cents on the dollar. Ahead of New York’s opening gold stood at $1,588.00 in the middle and in the euro at €1,291.90.

iShares Silver Trust: 9,696.71 tonnes

iShares Silver Trust: 9,696.71 tonnes

COMEX Silver Inventory Update: -315,986.486 ounces

COMEX Silver Inventory Update: -315,986.486 ounces

July 19: Gold and Silver End Slightly Higher

Gold climbed up to $1591.49 at about 8:30AM EST before it fell back to as low as $1577.15 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.23%. Silver rose to $27.60 before it dropped back to $27.13, but it still ended with a gain of 0.07%.

iShares Silver Trust: 9,696.71 tonnes

iShares Silver Trust: 9,696.71 tonnes

COMEX Silver Inventory Update: -775,376.83 ounces

COMEX Silver Inventory Update: -775,376.83 ounces

July 20: Gold and Silver End Mixed on the Week

Gold climbed $5.79 to $1586.79 in Asia before it fell back to $1573.80 by a little before 8:30AM EST, but it then rallied back higher in New York and ended near its new afternoon high of $1587.10 with a gain of 0.18%. Silver slipped to as low as $26.82 before it also rallied back higher and ended near its new afternoon high of $27.437 with a gain of 0.22%.

iShares Silver Trust: 9,696.71 tonnes

iShares Silver Trust: 9,696.71 tonnes

Silver Market Morning

Gold closed in New York at $1,572 yesterday. London opened at the same level as the euro fell below €1: $1.21 on growing fear. London’s morning Fix today was set at $1,573.00 and in the euro at €1,300.537, while the euro stood at €1: $1.2095. Ahead of New York’s opening gold stood at $1,575.25 in the middle and in the euro at €1,301.54.

iShares Silver Trust: 9,708.78 tonnes

iShares Silver Trust: 9,708.78 tonnes

COMEX Silver Inventory Update: -1,329,524.330 ounces

COMEX Silver Inventory Update: -1,329,524.330 ounces

July 24: Gold Gains While Dow Drops

Gold edged up to $1584.09 at about 9:30AM EST before it dropped back to $1569.05 in the next few hours of trade, but it then bounced back higher into the close and ended with a gain of 0.32%. Silver slipped to as low as $26.60 before it also bounced back higher into the close and ended unchanged on the day.

iShares Silver Trust: 9,639.42 tonnes

iShares Silver Trust: 9,639.42 tonnes

COMEX Silver Inventory Update: -670,704.483 ounces

COMEX Silver Inventory Update: -670,704.483 ounces

Silver Market Morning

Gold closed in New York at $1,604.50 up $22.20 on yesterday. London opened slightly higher at $1,606.10 rising to Fix at $1,603.00 $15.50 higher as the euro recovered back over 1: €$1.2185 up 80 cents. In the euro it was Fixed at €1,321.735 up €12.3 on yesterday morning, while the euro stood at €1: $1.2128 almost the same as yesterday. Ahead of New York’s opening gold stood at $1,608.56 in the middle and in the euro at €1,318.98.

COMEX Silver Inventory Update: -329,991.424 ounces

COMEX Silver Inventory Update: -329,991.424 ounces

iShares Silver Trust: 9,639.42 tonnes

iShares Silver Trust: 9,639.42 tonnes

Silver Market Morning

Gold closed in New York at $1,623.40. London opened slightly lower at $1,620 and fell back to Fix at $1,616.50 as the euro fell back to €1: $1.2273. In the euro it was Fixed at €1,317.871 up €8 on Friday’s p.m. Fixing, while the euro stood at €1: $1.2266. Ahead of New York’s opening gold stood at $1,618.60 in the middle and in the euro at €1,320.72.