• Gold: 1,278.92 -1.51
  • Silver: 16.56 -0.03
  • Euro: 1.160 -0.001
  • USDX: 94.789 -0.19
  • Oil: 64.09 -2.92

June 15: Gold and Silver Fall Over 1% on the Week

2 days 2 hours ago

Gold fell $27.40 to as low as $1275.40 at about 1:30PM EST before it bounced back higher into the close, but it still ended with a loss of 1.71%. Silver slipped to as low as $16.455 and ended with a loss of 3.49%.

March 28: Gold and Silver Fall Over 1%

Gold saw slight gains in early Asian trade, but it then fell back off for most of the rest of the day and ended near its late session low of $1323.60 with a loss of 1.38%. Silver slipped to as low as $16.246 and ended with a loss of 1.33%.

Optimist or Pessimist on Silver

Silver demand increases every year and will push prices higher. Our modern world depends upon electronics, computers, missiles, fighter jets, cruise missiles, technology, communication devices and more. Each new application adds to silver demand. Medical applications, electric cars and photovoltaic solar panels need more silver and will boost demand.

Revisiting 2011 and COMEX Silver

There has been a lot of talk lately about the bullish internals of COMEX silver, and rightfully so! The size of the Speculator net short position is the largest in two decades, and this is a decidedly bullish indicator. Since all of this data comes from the weekly, CFTC-generated Commitment of Traders reports, we thought it would be fun to take a look back today and compare/contrast the current open interest and CoT structure to 2011, the last time price got "disorderly" to the upside.

March 27: Gold and Silver Fall With Stocks

Gold fell $13.70 to $1340.20 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.64%. Silver slipped to as low as $16.471 and ended with a loss of 1.08%.

Silver Futures Report and JP Morgan Record Silver Bullion Holding Is Extremely Bullish

The COT data signaled we are close to bottoming and suggest that both gold and silver should make gains in the coming weeks and months. The data showed that the hedge funds and “Managed Money traders,” the “dumb money” speculators now have record short positions in silver. At the same time, the large commercials and including large bullion banks such as JP Morgan, the “smart money” and the “inside money” have reduced their shorts dramatically and are now long.

Has Silver's Time Finally Arrived?

Has silver's time finally arrived? This week Mike Maloney links to several pieces of news and data that show a massive shift in the silver market, as well as a gigantic nail in the coffin for the US Dollar Standard. Be sure to read the accompanying articles and watch the video Mike mentioned for some excellent in-depth analysis on why now might be the time for silver.

March 26: Gold and Silver Gain Almost 1%

Gold climbed $10.10 to $1355.80 in late morning New York trade before it edged back lower into the close, but it still ended with a gain of 0.54%. Silver rose to as high as $16.785 and ended with a gain of 0.97%.

Trade War and Silver CoT – Details and Implications

Gold soared by the end of the week. Miners didn’t – the HUI didn’t even move above the previous March highs. Silver’s performance was rather mixed, but closer to the one of miners than the one of gold. Why did gold rally? Why didn’t miners rally? How can the silver CoT numbers help in this case?

Buy Silver with Reckless Abandon

Look at the positioning of the mighty Commercial Traders, who rarely lose money and who operate under the blinded eye of regulatory oversight and governmental sanctuary. As of last Tuesday, the most powerful group of traders ever to operate under the watchful eye of the Working Group on Capital Market wiggled out of a massive 41,497-contract short position in silver on January 23, and arrived in full regalia this week short a mere 3,709 contracts. To provide some modicum of perspective, the Commercials were short a notional amount of silver that would correspond to 207,485,000 ounces worth $3.3 billion at the $16.20 per ounce benchmark on January 23, and are now short a notional 18,545,000 ounces worth a paltry $300,429,000.

Hi-Ho Silver!

If the latest COT report for silver gets any more bullish than the one released on March 23rd, commercial traders will have to go ‘net long!’ As it is, they reduced their ‘net short’ position to the lowest number in many years, down to just 4,000 contracts – barely 2% of the total open interest! This is bullish action! As recently as January 16th the number of ‘net short’ positions was 50,000, and the percentage of open interest was 26%.

Silver Speculators Go Short – Which Is Extremely Bullish

Friday’s commitment of traders (COT) report for gold and silver offered more of the same. Which is to say the gold futures action was boring and the silver action was strange and exciting. Starting with gold, the large speculators – who, remember, tend to be wrong at big turning points – got a little less optimistic, while commercials – who tend to be right at big turning points – did the opposite. But both groups are still in unfavorable territory, with the speculators too long and the commercials too short. Looked at in a vacuum this is not good short-term news for gold.

March 23: Gold and Silver Gain on the Week While Stocks Drop 6%

Gold climbed $21.90 to as high as $1350.20 by midmorning in New York before it chopped back lower at times, but it still ended with a gain of 1.31%. Silver jumped up to $16.664 and ended with a gain of 0.85%.

March 22: Gold and Silver Pare Yesterday’s Gains; Dow Drops 700+

Gold chopped between $1327.50 and $1333.80 in Asia before it fell to a new session low of $1324.80 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.38%. Silver slipped to as low as $16.35 and ended with a loss of 1.27%.

March 21: Gold and Silver Gain Roughly 2% After Fed

Gold saw decent gains in Asia and London and climbed $16.10 to as high as $1326.50 in late morning New York trade before it pared back to $1319.40 just after today’s fed statement was released, but it then rose to new session highs into the close and ended near its last-minute high of $1335.60 with a gain of 1.76%. Silver surged to as high as $16.636 and ended with a gain of 2.47%.

JPMorgan's Domination of COMEX Silver

So it's easy to conclude that this massive hoard of silver is not customer silver in storage nor is it held in custody as a part of the SLV. Instead, this is very likely JPM's own silver, against which JPM can issue contracts as an alleged hedge. Just as selling call options against a large equity position can yield an investor additional income, we believe JPM sells futures against this physical position. This allows them to manage price and consistently create profits for their commodity trading desk.

March 20: Gold and Silver Fall Before Fed Day

Gold fell $9.60 to $1307.20 at about 10:30AM EST before it climbed back higher into midday, but it still ended with a loss of 0.49%. Silver slipped to as low as $16.116 and ended with a loss of 0.80%.

March 19: Gold Gains While Stocks Drop

Gold dipped $6 to $1307.60 in Asia before it jumped up to $1319.60 in early afternoon New York trade and then drifted back lower into the close, but it still ended with a gain of 0.24%. Silver slipped to as low as $16.21 and ended unchanged on the day.

March 16: Gold and Silver Fall Roughly 1% on the Week

Gold gained $5.20 to $1321.70 in London before it fell back to $1309.70 at about 11AM EST, but it then chopped back higher into the close and ended with a loss of just 0.22%. Silver waffled between $16.496 and 16.207 and ended with a loss of 0.37%.

Market Report: Snoozing Into Spring

On Comex, silver remains in deeply oversold territory, while gold is broadly neutral. Silver appears to be following the base metals, which have been drifting lower, while the dollar continues its consolidation of earlier falls. Consequently, the gold/silver ratio is up at over 80, a level that historically has been too high to sustain, as the next chart shows.

March 15: Gold and Silver Fall Nearly 1%

Gold edged up to $1327.90 in Asia before it dropped back to $1315.00 in midafternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.66%. Silver slipped to as low as $16.366 and ended with a loss of 0.97%.

March 14: Gold and Silver Hold Steady While Stocks Drop Again

Gold gained $4.30 to $1330.10 in Asia before it fell back to $1321.60 in midmorning New York trade, but it then chopped back higher into the close and ended with a loss of just 0.045%. Silver sloshed between $16.654 and $16.501 and ended with a loss of 0.12%.

Are You Ready For The Next Rally In Silver?

In short, the three primary drivers of this rally will be continuing weakness in the U.S. dollar, generally rising commodity prices and the aforementioned Commitment of Traders structure that recently showed the Large Speculators in COMEX silver to be NET short for the first time in nearly 15 years. As you know by now, the COMEX silver "market" is very likely THE most manipulated in the world, given its relatively small size and the dominant, monopolistic positions held by a few major banks.

March 13: Gold and Silver Gain But Miners Struggle With Stocks

Gold fell $6.60 to $1317.10 in Asia before it jumped up to $1327.50 in early New York trade and then dropped back down to $1318.70 by a little after 10AM EST, but it then climbed to a new session high of $1328.30 in early afternoon trade and ended with a gain of 0.16%. Silver rose to as high as $16.652 and ended with a gain of 0.12%.

March 12: Gold and Silver Erase Early Losses To End Near Unchanged

Gold fell $9.10 to $1314.40 at about 8AM EST, but it then rallied back higher throughout most of trade in New York and ended with a gain of 0.015%. Silver slipped to as low as $16.438 and ended with a loss of 0.18%.

Silver Does it Again! Severe Consequences.

In the free analysis that we posted last Monday, we warned that Friday’s session was likely to be volatile and tricky. This seems to have indeed been the case for silver. The white metal declined early in the day only to rally almost 40 cents from the initial low. In our previous alert, we discussed the possibility of silver topping at about $16.65 and this level was reached. Is silver about to take a dive just like it did in late November 2017?

January 30: Gold and Silver Gain About 1% and 2%

Gold rose $6 to $1668.70 in Asia before it fell to see a slight loss at $1661.60 by a little after 8AM EST, but it then climbed to as high as $1683.50 just after today’s fed announcement and the yellow metal and ended with a gain of 0.83%. Silver slipped to as low as $31.24 by a little after 8AM EST, but it then shot to as high as $32.24 and ended with a gain of 2.01%.

Silver Market Morning

In New York the gold price fell back to $1,664.80 continuing to consolidate, yesterday. In Asia it slipped a little to $1,663 and traded around that level in London’s morning where it Fixed at $1,665.00 and in the euro at €1,217.996 down €17, while the euro was $1.3670. Ahead of New York’s opening, gold was $1,666.40 and in the euro at €1,220.71.

Do Silver and Platinum Have Higher Growth Potential Than Gold?

We at Sunshine Profits suggest holding three precious metals (in a physical form) as long-term investments in a “default” precious metals portfolio – gold, silver and platinum. There are, of course, other viable options, such as palladium, depending on one’s preferences and needs, but these three mentioned above will suit virtually any precious metals investor.

February 8: Gold and Silver End Mixed on the Week

Gold edged up to $1673.53 in Asia before it fell back to as low as $1665.14 in early New York trade, but it then bounced back higher at times and ended with a loss of just 0.19%. Silver slipped to $31.314 in early New York trade, but it then rose to as high as $31.68 at about 10:40AM EST and ended unchanged on the day.

February 12: Gold and Silver End Slightly Higher

Gold dropped $10.51 to $1639.19 by a little after 5AM EST, but it then rose to as high as $1653.30 in New York and ended with a gain of 0.11%. Silver slipped to $30.57 in London, but it then climbed to as high as $31.128 and ended with a gain of 0.42%.

Endeavour Silver's Development of Work Underway at El Cubo Plant

Endeavour Silver's Development of Work Underway at El Cubo Plant

First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko

First Majestic Silver Corp. (FR.TO)(AG)(FMV.F) ("First Majestic" or the "Company") announces that it has today notified the Board of Directors of Orko Silver Corp. that it is not matching the offer made by Coeur d''Alene Mines Corporation ("Coeur") and will not be increasing the consideration under First Majestic''s offer to acquire all of the issued and outstanding Orko shares.

February 19: Gold and Silver Fall Slightly

Gold climbed $5.85 to $1614.75 in Asia before it fell to as low as $1600.54 in early afternoon New York trade, but it then bounced back higher in the last four hours of trade and ended with a loss of just 0.25%. Silver slipped to as low as $29.22 before it also rebounded, but it still ended with a loss of 1.31%.

February 26: Gold and Silver Gain Over 1% More

Gold bumped up to $1601.89 in Asia before it fell to see a $10.26 loss at $1584.34 at about 10:15AM EST, but it then shot to as high as $1619.40 in the next hour of trade and ended with a gain of 1.21%. Silver surged to as high as $29.456 and ended with a gain of 1.19%.

March 5: Gold and Silver End Slightly Higher

Gold climbed up to $1586.04 at about 8:30AM EST before it fell back to $1571.75 over the next five hours, but it then bounced back higher in afternoon trade and ended with a gain of 0.08%. Silver surged to as high as $29.065 before it fell back to $28.513, but it still ended with a gain of 0.42%.

March 6: Gold and Silver Rise, Miners Jump Higher

Gold dropped to $1567.40 at about 9:45AM EST before it rebounded to $1584.58 in the next hour of trade and then fell back to about unchanged by early afternoon in New York, but it then rallied back higher in the last few hours of trade and ended with a gain of 0.53%. Silver slipped to $28.54 before it jumped up to $29.067 and then also fell back off, but it still ended with a gain of 1.33%.

March 12: Gold and Silver Gain Almost 1%

Gold held near unchanged in Asia, but it then jumped higher at about 7AM EST and ended near its late morning New York high of $1598.21 with a gain of 0.77%. Silver surged to as high as $29.35 and ended with a gain of 0.59%.

April 1: Gold Edges Up While Silver Slips

Gold chopped around in a tight range of $1595.00 to $1600.90 in lackluster post-holiday trade and ended with a gain of 0.06%. Silver slipped to as low as $27.87 and ended with a loss of 1.44%.

COMEX Silver Inventory Update: -978,339.568 ounces

COMEX Silver Inventory Update: -978,339.568 ounces

Silver Market Morning

Gold continued to move higher, closing at $1,388 in New York yesterday. In Asia and London it pushed through $1,400 to $1,411 ahead of the Fix. The Fix was set at $1,414 up $17 and in the euro at €1,080.462 up €10 while the euro was at €1: $1.3087. Ahead of New York’s opening it began to slip at $1,411.55 and in the euro at €1,078.59.

iShares Silver Trust Subtracts 21.11 Tonnes

iShares Silver Trust Subtracts 21.11 Tonnes

COMEX Silver Inventory Update: -384,165.450 ounces

COMEX Silver Inventory Update: -384,165.450 ounces

May 8: Gold Gains Over 1% While Silver Slips

Gold saw a slight loss at $1450.14 at about 6AM EST before it jumped up to $1469.90 by a little after 8AM EST and then drifted back off into midday, but it then jumped to a new session high of $1476.30 in early afternoon New York trade and ended with a gain of 1.42%. Silver dropped to $23.73 before it jumped up to $24.08 and then fell back off to $23.67, but it then climbed back to as high as of $24.00 in early afternoon New York trade and ended with a loss of just 0.08%.

iShares Silver Trust Adds 9.01 Tonnes

iShares Silver Trust Adds 9.01 Tonnes

COMEX Silver Inventory Update: +2,391,349.790 ounces

COMEX Silver Inventory Update: +2,391,349.790 ounces

COMEX Silver Inventory Update: -606,188.735 ounces

COMEX Silver Inventory Update: -606,188.735 ounces

Fortuna intercepts 736 g/t Ag and 4.8 g/t Au over 19.3 m at Trinidad North discovery, San Jose Mine, Mexico

Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F) is pleased to report continued success in the exploration drilling at the Trinidad North discovery at the San Jose Mine in Mexico . Drilling continues to intercept high-grade silver-gold mineralization over wide widths with the mineralization remaining open to the north and to depth.

Join SilverSeek.com in Vancouver at the World Resource Investment Conference May 26/27

Cambridge House International announced the attendance of a team of world renowned investment managers, representing the Sprott Group of Companies, at the upcoming World Resource Investment Conference. Keynote speeches will be delivered by Rick Rule, David Franklin, Steve Yuzpe, Brian Mellum, and Dean R. Jensen.

Is Silver Currently Riskier Than Gold?

Summing up, even though the fundamental picture for silver and the long-term case are bullish, the technical situation for silver is quite bearish at this time and its medium-term picture is more bearish than gold’s.

iShares Silver Trust: -33.18 tonnes

iShares Silver Trust: -33.18 tonnes

Silver Market Morning

Gold closed in New York at $1,583.90 on Friday. London opened $11 down as the euro fell again on more fear. London’s morning Fix today was set at $1,571.50 and in the euro at €1,298.117, while the euro stood at €1: $1.2105 down nearly 1.5 cents on the dollar. Ahead of New York’s opening gold stood at $1,572 in the middle and in the euro at €1,297.03.

Silver ETFs Stealing Miners Thunder

David Morgan, founder of Silver-Investor.com, says ETFs are stealing mining stocks investor base, but beaten down miners like Silver Wheaton are now the market's best bet.

iShares Silver Trust: 9,708.77 tonnes

iShares Silver Trust: 9,708.77 tonnes

Arian Silver Signs Letter of Intent with 500tpd Mill Operator

Arian Silver Corporation (the "Company" or "Arian") (AGQ.V)(AGQ.L)(I3A.F), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report that the Company has signed a letter of intent, which reflects the Company's intention to sign a definitive contract for exclusive use of a newly refurbished and soon to be re-commissioned 500 ton per day ("tpd") toll mill. This mill, which is located on the outskirts of the City of Zacatecas, is currently expected to be operational within ten to twelve weeks.

COMEX Silver Inventory Update: +168,218.010 ounces

COMEX Silver Inventory Update: +168,218.010 ounces

Silver Sector Shrinking

It has been a while since we had this nagging feeling that we’re witnessing something profound taking place before our eyes and the market doesn’t seem to grasp it yet. We are not talking about the smorgasbord of events effecting markets all over the globe that is receiving ample coverage elsewhere in the media. As readers might know, our particular interest is in the silver space, and that is where we see an elephant in the room that hasn’t made headlines yet.

I Stand By $140 Silver In 2012

Pyrrhic Victory

This weekend, the much-hyped Greek elections occurred, with TPTB attempting to convince the world that a Syriza win would be catastrophic, and a New Democracy win “blissful.” Of course, neither situation is any different, other than that the timing of the ultimate Greek departure from the Euro currency mechanism. The MSM desperately wanted to bully stocks higher - and gold lower – to “celebrate” this Pyrrhic victory, but the markets are not co-operating, major equity indices flat and downtrodden PIIGS like Italy and Spain seeing their stocks AND bonds torched.

Commodities On Fire

Commodities markets ON FIRE this morning, led by oil, up another 4.5%. All base metals up 3%-4%, as well as silver, up 3.1% at 11:30 AM EST. Gold capped as usual at just a 1.5% gain, but pushing toward the top of its multi-month trading range of $1,550-$1,650, and on the verge of making a run toward its ALL-TIME HIGH in Euros. I’m not a big fan of short-term charts, but the long-term, ELEVEN MONTH, bullish “pennant” formation in Euro gold is a site to see, with MASSIVE upside potential when broken to the upside.

Lawrence Roulston on Santacruz Silver Mining Ltd.

Santacruz is less than six months from the start of production on its first Mexican silver mine. Two other advanced-stage projects are also on track for near-term production, supporting a production target of 5 million ounces per year within 3 to 4 years.

August 2: Gold and Silver End Modestly Lower

Gold climbed almost 1% to $1615.05 by a little after 8AM EST, but it then fell to as low as $1584.97 by early afternoon in New York and ended with a loss of 0.66%. Silver slumped to as low as $26.97 and ended with a loss of 0.91%.

SilverCrest Reports Q2, 2012 Financial Results

“We had a strong second quarter of 2012. We sold 637,050 silver equivalent ounces (2), for gross revenues of $16.0 million, with an average cash operating cost of $6.94 per silver equivalent ounce. The Santa Elena low cost, open pit heap leach mine operations continue to perform well and generated cash flows of $7.2 million which will contribute to the financing of the Santa Elena Expansion plan and the development of our major polymetallic La Joya Project. Q2, 2012, production was consistent with our budget and cash operating costs were below our budget of $8.20 per silver equivalent ounce. As a result, we are confident in meeting or exceeding our 2012 production guidance of 435,000 silver ounces and 33,000 gold ounces."

COMEX Silver Inventory Update: -55,338.220 ounces

COMEX Silver Inventory Update: -55,338.220 ounces

Silver: Supply and Demand

Ever wonder how supply and demand affects the price of silver? It's not as simple as you may think. This educational video explores the economics of silver and its various uses for industrial demand.

iShares Silver Trust: 9,687.66 tonnes

iShares Silver Trust: 9,687.66 tonnes

Silver Sales Up As Supply Slips

Silver's Fall

We are seeing macro funds buying the gold market and the Silver Trust shares, while other investors are selling to cover their losses in other markets.Silver demand remains vibrant in China and [as a 'needed' metal [in pharmaceuticals and electronics. We do not see that changing! But silver is moving as a monetary metal alongside gold, even though at institutional level it is not considered a monetary metal. We expect this to continue.