• Gold: 1,326.28 -4.45
  • Silver: 16.41 -0.06
  • Euro: 1.232 -0.002
  • USDX: 89.909 0.196
  • Oil: 61.14 -0.44

February 20: Gold and Silver Fall Over 1% With Dow

9 hours 56 min ago

Gold waffled near unchanged in holiday thinned trade yesterday before it fell $13.20 to as low as $1335.50 at about 9AM EST today and then bounced back to $1342.90 by midmorning, but it then dropped to a new session low of $1328.40 by early afternoon and ended with a loss of 1.33%. Silver slipped to as low as $16.426 and ended with a loss of 1.26%.

Silver Morning: July-31-2017 -- silver rising in all currencies!

A lifetime of experience in global financial markets has taught us to recognize when a market is over extended either way. It has also taught us that it can stay over-extended for a long time The clear signs are when a market has discounted a very rosy future and expected returns are small relative to the price of assets. But in a climate where prices are very high, fund managers have to decide if the reasons are because they are over-bought, or if the money used to buy them is depreciating in value. Right now equity prices relative to fixed interest rate returns are not excessive. But the prospects of higher rates that will change this have been put off, allowing equities and other assets to remain too high for longer. Indeed the temptation this brings is that prices can go, unjustifiably, quite a bit higher. But this brings into view that when markets eventually do turn down they will fall precipitously. In such a climate ‘stop loss’ protections should be replaced with short positions. Once that happens on a large scale interest rates will become irrelevant and permit markets to fall precipitously simply because markets are falling.

Abraplata closes $1.62-million private placement

Abraplata Resource Corp. has completed, on a non-brokered basis, an offering of 4,066,480 common shares of the company by way of a private placement at a price of 40 cents per share for total gross proceeds of $1,626,592. Proceeds from the private placement will be used for property exploration and working capital.

Silver Market Morning: July-28-2017

With all the chatter about the timing of rate hikes or trimming the Fed’s Balance Sheet, one very, very important factor is being overlooked in the U.S. If inflation continues at lower or lowering levels and the recovery stalls followed by a downturn, the Fed has almost no more tools with which to combat the falls. As it is rates continue to be so low that any lowering will have little to no impact [unless they go negative] on stimulating the U.S. economy. Likewise, trimming the Fed’s Balance Sheet, we feel, will have little to no impact on the U.S. financial world. If they go that road and there is a downturn in the U.S. further stimulation is likely to crack confidence in the dollar, something that the Fed cannot afford! Certainly little could be more positive for the gold price. Despite their positive demeanor, Fed officials must be very disturbed by the downturn in inflation.

Premier Zinc Stock at Great Entry Point

Zinc One Resources Inc. (Z:TSX.V; ZZZOF:OTC; RH33:FSE) is one of the best zinc companies around, but over the past six months its stock has suffered a heavy reaction following a steep run-up early in the year, as we can see on its 8-month chart below. Fundamentally this reaction was due to two factors. One was a falling zinc price, and the other was a major funding by the company.

Silver Morning: July-27-2017

The Fed decided not to raise rates, as expected but only said they would start lowering the Fed’s Balance Sheet, relatively soon. This disappointed markets including the global gold markets that are taking the gold price above previous resistance levels into the $1,260 region. But once again the biggest feature of the day was the softening dollar. It has confirmed it is in a ‘bear’ market and will decline over the next few years. More and more analysts including major institutions are now talking the dollar down, over the long term.

Silver Morning: July-25-2017

In addition Chinese demand and the new London based LME precious arbitrage market with Hong Kong is letting London feel Chinese demand directly, in addition to the big banks in China doing the same in London. So we are watching to see where the gold price will go today.

Zinc One Enters into Surface Access Agreement with Comunidad Campesina de Yambrasbamba on the Bongará Zinc-Oxide Project and Announces Results of AGM

“Reaching an agreement with the Yambrasbamba community is a major milestone for Zinc One and the Bongará Zinc-Oxide Mine Project. The Yambrasbamba community has previously seen the full gamut of mining – from exploration to construction to operations to remediation – which is extremely rare. They are very knowledgeable and not only understand the economic opportunities it will afford the CCY stakeholders, but have seen the overall minimal impact of mining and the benefits of remediation. We are grateful to have such a supportive community and, if the project moves ahead as we expect, then we see the building of the Bongará Zinc Oxide Mine Project as a win for the community, government and company shareholders,” commented James Walchuck, CEO of Zinc One.

Silver Morning: July-24-2017

This is a structural change in the global gold market and allows a considerably greater influence of the physical gold market [primarily Shanghai] to impact the gold price and diminish the impact of the ‘paper gold markets of COMEX and the ‘paper’ side of the London gold market, across the world. We have highlighted in the Gold Forecaster newsletter of ours that while 90+% of gold-linked transactions go through London and COMEX over 90% of physical gold transactions go through Shanghai. With the impact of the arbitrageurs bringing global gold prices together, we will see, at last, the fundamentals of demand and supply impact the price.

5 Things I Look for in Exploration Companies

There is a decent number of executives in the junior industry that were part of or led a company to an acquisition. If they have done it before then they know what needs to be done in order to do it again. If management has not been involved in a transaction, check to see if they have discovered a deposit or expanded a resource through drilling. Also, seek out the executives that had ample experience at a major company.

July 21: Gold and Silver Gain Over 2% and 3% on the Week

Gold rose throughout most of world trade and ended near its midafternoon high of $1255.70 with a gain of 0.85%. Silver rose to as high as $16.522 and ended with a gain of 1.1%.

Silver Market Morning: July 21 2017 - Gold and silver markets continue to climb stronger than we expected!

New York closed only $0.80 lower than Shanghai yesterday and has been trying to follow Shanghai all the way up, with London opening today at a discount to Shanghai’s trading today of $5.06 an narrower discount than we have seen this week. Both London and New York are being pulled up by Shanghai. With this strong Chinese demand the chances of both London and New York breaking through $1,250 are greatly increased.

Golden Arrow Chairman's Update on Corporate Plans

Golden Arrow Resources Corporation (TSX VENTURE:GRG)(GAC.F)(WKN:A0B6XQ)(GARWF) ("Golden Arrow" or the "Company") - Subsequent to the formation of the joint venture with Silver Standard Resources Inc. (SSO.TO)(SSRI) ("Silver Standard"), which was announced on May 31, 2017, the joint venture, named Puna Operations Inc. ("POI"), has been formed to hold both the Chinchillas project and the Pirquitas project, which consists of the San Miguel open pit mine which ceased mining operations in January 2017 (the "Pirquitas Pit"), and the associated mineral processing facilities and tailings facility (the "Pirquitas Operation") in Argentina.

July 20: Gold and Silver Edge Higher

Gold fell $6.30 to $1235.30 in London before it climbed back to $1242.00 by a little after 9AM EST and then dropped back to $1237.60 in the next hour of trade, but it then jumped to a new session high of $1247.50 in late morning action and ended with a gain of 0.17%. Silver rose to as high as $16.414 and ended with a gain of 0.06%.

July 19: Gold and Silver End Mixed

Gold fell $5.10 to $1237.00 in Asia before it climbed back to $1243.80 in midmorning New York trade and then chopped back lower at times, but it ended with a loss of just 0.04%. Silver slipped to $16.166 before it jumped back to $16.359 and then also fell back off, but it still ended with a gain of 0.12%.

Silver Market Morning: July 19 2017 - Gold and silver markets continue to climb but the pace may slow!

New York closed $2.78 lower than Shanghai’s close yesterday, with London opening today at a discount to Shanghai’s trading today of $8.22, a slightly widening discount to Shanghai. But London is being pulled up by Shanghai. Chinese demand is sufficient to lift prices there, despite the slower rise in the gold price in London. This bodes well for more rises in London and New York.

July 18: Gold and Silver Rise A Third Day

Gold gained $10.40 to $1244.40 in midafternoon New York trade before it edged back lower in the last hour of trade, but it still ended with a gain of 0.66%. Silver rose to as high as $16.31 and ended with a gain of 0.93%.

Silver Market Morning: July 18 2017 - Gold and silver markets continue to climb!

New York closed $2 lower than Shanghai’s close yesterday, with London opening today at a discount to Shanghai’s trading today of $7.10, the same discount to Shanghai we saw yesterday. But London is being pulled up by Shanghai. Shanghai in turn was pulling back today from its high as the Yuan strengthened, bringing Shanghai’s gold price to the same differential as it had yesterday.

July 17: Gold and Silver Add Onto Recent Gains

Gold gained $7.50 to $1235.90 $16.196 by a little after 10AM EST before it chopped back lower at times, but it still ended with a gain of 0.46%. Silver rose to as high as $16.196 and ended with a gain of 1.07%.

Silver Market Morning: July 17 2017 - Gold and silver markets are seeing a changed mood for the better!

Janet Yellen’s comments Friday were followed by the publication of the latest CPI numbers which showed that the belief that the poor data, issued on Friday, which led the Fed to say it was a temporary setback, looks like turning out to be more permanent. With this in mind and indeed if this proves to be so, we may not see another rate hike in 2017. Equity markets have not yet discounted this, but it is being reflected in the dollar’s exchange rate. Once it is factored in, we expect more ‘bubble’ rises in U.S. equities [albeit against better earnings results from the corporate sector] as the prospect of better yields in these markets, for much longer, attracts funds.

July 14: Gold and Silver Gain Over 1% and 2% on the Week

Gold dipped to $1215.00 in Asia, but it then shot to as high as $1232.60 in early New York trade and ended with a gain of 0.84%. Silver rose to as high as $16.081 and ended with a gain of 1.4%.

National Debt Too High, Silver Price Too Low

Examine over a century of official national debt data graphed on a log scale. Official debt in 1913 was $3 billion. Since then it has risen 8% to 9% every year to reach $20 trillion or $20,000 billion. Debt will continue rising as long as politicians spend and bankers lend. Proof: Name the Senators, Representatives, Presidents, military contractors, pharmaceutical companies, and Medicare recipients who wish to see the government reduce expenses.

July 13: Gold and Silver Edge Lower

Gold edged up to $1224.40 in Asia before it fell back to $1216.70 in midmorning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.17%. Silver slipped to as low as $15.695 and ended with a loss of 1.19%.

How silver could bounce back after a ‘bearish 2017’

“Now that we have fallen below $16, we are back in what I believe is an extremely attractive accumulation zone,” Peter Spina, president and chief executive officer of GoldSeek.com, told MarketWatch. He said prospects for silver are “looking significantly stronger” in the second half of the year.

Silver Market Morning: July 13 2017 - Gold and silver are rebounding!

Janet Yellen’s comments yesterday made it clear that the Fed wants a ‘neutral’ interest rate, neither higher than inflation nor lower. At the moment it is lower, but with inflation falling in the U.S. the Fed may well delay another rate hike beyond year’s end because they may see ‘neutral’ rates without raising rates again this year. This has softened the dollar, which at one point nearly touched the point at which the dollar falls into a ‘bear’ market. We see that as coming very soon. It will benefit the dollar gold price.

August 13: Gold and Silver End Mixed Yet Again

Gold dropped $4.76 to $1304.94 by a little after 8AM EST before it jumped up to $1314.94 in the next few hours of trade and then chopped back lower at times, but it still ended with a gain of 0.15%. Silver slipped to as low as $19.714 and ended with a loss of 0.6%.

August 21: Gold and Silver Fall With the Dollar

Gold dropped $17.85 to $1273.25 by early afternoon in New York before it bounced back higher in the last few hours of trade, but it still ended with a loss of 1.07%. Silver slipped to as low as $19.32 in late Asian trade, but it then rallied back higher into the close and ended with a loss of just 0.15%.

Fortuna Silver Reports Updated Mineral Resource Estimate for San Jose Mine in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 27, 2014) - Fortuna Silver Mines Inc. (FSM)(FVI.TO)(FVI)(F4S.F) is pleased to announce an updated Mineral Resource estimate as of June 30, 2014 for the San Jose Mine located in Oaxaca, Mexico. Included in the San Jose mineral resources is an updated estimate of the Mineral Resource for the Trinidad North discovery based on the completion of forty-one additional step-out and twelve infill drill holes in the Trinidad North area.

Santacruz Silver Reports Second Quarter 2014 Financial Results

"During the second quarter we have been successful in reducing our operating costs significantly while keeping on-track with our 2014 mine plan, in particular we have reduced our all-in sustaining cost per silver equivalent ounce sold by more than 28% from the first quarter of 2014,"

September 5: Gold and Silver Fall 1.44% on the Week

Gold jumped up to $1270.35 after the release of this morning’s jobs report before it drifted back lower in late morning trade, but it still ended with a gain of 0.47%. Silver spiked up to $19.163 before it dropped back to $19.04, but it then bounced back higher in afternoon trade and ended with a gain of 0.63%.

September 10: Gold and Silver End Slightly Lower

Gold fell $12.62 to as low as $1243.88 by early afternoon in New York before it bounced back higher into the close, but it still ended with a loss of 0.52%. Silver slipped to as low as $18.893 and ended with a loss of 0.58%.

September 12: Gold and Silver Fall About 3% on the Week

Gold waffled between $1232.25 and $1239.92 in Asia before it fell to as low as $1227.69 by early afternoon in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.92%. Silver slipped to as low as $18.468 and ended with a loss of 0.32%.

September 22: Gold and Silver End Slightly Lower

Gold dropped $7.77 to $1209.83 in early Asian trade before it bounced back to $1217.10 in London and then fell back to $1212.34 by a little after 11AM EST, but it then jumped to a new session high of $1219.42 by early afternoon in New York and ended with a loss of just 0.19%. Silver slipped to $17.354 in early Asian trade before it climbed back to $17.863 in New York, but it still ended with a loss of 0.5%.

$0 Silver: The Price Point of Liberty

A few years ago when silver was approaching the magical $50 resistance point, I wrote an article claiming $50 silver as the Price Point of Liberty. Today I realize their are two price points of Liberty, $50 and somewhere before the price of silver reaches $0. Range limited, managed silver prices have been kept below $50 since 1980, regardless of inflation or the asymptotic decline in silver production and the drastic decline in production grams-per-ton and the exorbitant increase in national debt.

Fortuna Reports Production of 1.8 Million Ounces of Silver and 9,751 Ounces of Gold for Third Quarter 2014

Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI) (F4S.F) today announces production figures from its two underground mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru. In the third quarter of 2014, the company delivered 1.8 million ounces of silver, 9,751 ounces of gold plus base metal by-products. Year to date, the company has delivered 5 million ounces of silver and 26,420 ounces of gold. With current production results, silver and gold productions should exceed annual guidance by 9 percent and 8 percent respectively.

Excellon Reports Third Quarter 2014 Production

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, reports its third quarter 2014 production results and an exploration update from the La Platosa Mine in Durango, Mexico.

Silver price-fixing lawsuits consolidated in Manhattan federal court

Lawsuits filed by investors since July over the alleged price-fixing were consolidated on Tuesday in the U.S. District Court for the Southern District of New York, following an order issued last Thursday by the U.S. Judicial Panel on Multidistrict Litigation, a special body of federal judges that decides when and where to consolidate related lawsuits.

SilverCrest Announces Record Q3 Production 385,251 Ounces Silver and 7,085 Ounces Gold

SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC) (the "Company") is pleased to announce silver and gold production results for the third quarter ("Q3") of 2014 from its 100% owned Santa Elena Mine located in Sonora, Mexico. The Santa Elena Mine is in the process of finalizing the transition from an open pit heap leach to underground mining and milling operations.

October 16: Gold and Silver End Mixed As Stocks Stabilize

Gold saw slight gains in Asia and London before it dropped down to $1235.18 at about 9:15AM EST, but it then climbed back to $1244.35 by late morning in New York and ended with a gain of 0.14%. Silver slipped to as low as $17.21 and ended with a loss of 0.29%.

Silver Market Morning

The gold price closed at $1,229 down $2.00 on Monday. Asia and London took it up to $1,230.30. The euro is stronger this morning at $1.2735. The Fix was set $1,229.25 up $0.50 and in the euro at €964.572 down €2.263, while the euro stood stronger at $1.2744. The volumes of gold traded were one seller selling 30,000 ounces and three buyers buying 50,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,228.80 and in the euro at €965.01.

Silver Market Morning

The gold price closed at $1,198.70 down $12.50 on Thursday. Asia and London took down to $1,174. The euro is weaker this morning at $1.2560 on the day. The Fix was set $1,173.25 down $32.50 and in the euro at €933.447 down €24.638, while the euro stood weaker at $1.2569. The volumes of gold traded were two sellers selling 58,000 ounces and one buyer buying 38,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,774.1 and in the euro at €933.64.

U.S. Mint temporarily sold out of Silver Eagles amid huge demand

The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following "tremendous" demand in the past several weeks.

November 6: Gold and Silver Gain With Stocks

Gold chopped around between $1142.22 and $1149.44 and ended with a gain of 0.1%. Silver rose to as high as $15.465 and ended with a gain of 1.11%.

SILVER SHORTAGE? What Does It Mean?

Mike Maloney clarifies the situation of US Mint Silver Eagle suspension in this must watch report. Hidden Secrets Of Money is a world-leading educational series that is sponsored by, and also based on the priciples of WealthCycles. It shows the evolution of gold and silver as money, and teaches the historical economic mistakes that all societies repeat.

First Majestic Reports Third Quarter Financial Results

The Company generated revenues of $40.8 million for the third quarter of 2014, a 39% decrease compared to the previous quarter primarily due to a temporary suspension of silver sales of approximately 934,000 silver ounces to maximize profit in response to a 19% decline in the price of silver during the quarter, and a 9% decrease in total production.

November 12: Gold and Silver End Slightly Lower

Gold bounced between $1161.42 and $1169.72 in London before it dropped down to $1157.45 in early afternoon New York trade and then edged back higher in late trade, but it still ended with a loss of 0.49%. Silver slipped to as low as $15.569 and ended with a loss of 0.45%.

Silver Market Morning

The gold price closed up at $1,161.80 up from $1,160.10 in New York on Thursday. London took it down to $1,153 ahead of the Fix. It was Fixed at $1,154 down $7.00 and in the euro at €926.312 down €4.5, while the euro stood stronger at $1.2458. The volumes of net gold traded were two sellers selling 22,000 ounces and two buyers buying 36,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,153.70 and in the euro at €926.18.

Excellon receives TSX OK for 5.2-million-share buyback

The company filed the NCIB program to allow for market purchases of the company's common shares. Pursuant to the terms of the NCIB program, Excellon shall be permitted to purchase common shares for cancellation through the facilities of the Toronto Stock Exchange at the prevailing market price of the common shares.

MASSIVE INDIAN SILVER IMPORTS: Setting Up For Another Big Record Year

With the paper price of silver now below the break-even for the majority of the primary silver mining companies, India imported a massive 1,243 metric tons of silver in October alone. What is quite interesting about this figure is that it comes in at one metric ton shy of the previous record set in May, 2011 at 1,244 mt.

Liberty Dollar founder avoids imprisonment in sentencing

We have it only through a reliable intermediary that Liberty Dollar founder Bernard von Not Haus, convicted rather strangely almost four years ago of counterfeiting for issuing silver coins worth more than the originals they were supposed to be imitating, received a lenient sentence today from Judge Richard Voorhees in U.S. District Court for the Western District of North Carolina -- six months of home confinement and three years of probation.

Silver gets blown out

iShares Silver Trust

The iShares Silver Trust is not a standard ETF. The Trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act. Shares of the Trust are not subject to the same regulatory requirements as mutual funds. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.

South American Silver Files First Quarter 2012 Financial Statements and MD&A and Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/14/12)- South American Silver Corp. (SAC.TO)(SOHAF.PK) reports the release of its unaudited condensed interim consolidated financial statements for the three months ended March 31, 2012 and the related management's discussion and analysis of financial position and results of operations ("MD&A"). The Company is also pleased to provide an update on the Malku Khota silver-indium project in Bolivia and the Escalones copper-gold project in Chile. In this press release, all amounts are expressed in U.S. dollars, unless otherwise indicated.

Backwardation in Gold And Silver

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.

May 21: Gold and Silver End Mixed

Gold fell $6.40 to $1585.00 at about 9:30AM EST, but it then chopped back higher midday and ended with a gain of 0.16%. Silver slipped to as low as $28.076 before it also bounced back higher, but it still ended with a loss of 0.56%.

Silver Market Morning

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

Gold closed against the flow of the euro, in New York at $1,564.80 and in London’s early morning fell to $1,560. The euro stood at €1: $1.2397 another 75 cents lower than yesterday. It continued to fall in London. Gold Fixed at $1,567.50 up $19 and in the euro at €1,262.077 up €17. Ahead of New York’s opening gold stood at $1,566 and in the euro, €1,261.89 while the euro was at €1: $1.2410.

Perception and Propaganda

Today, we are experiencing a MAJOR inflection point in TPTB’s attempts to influence PERCEPTION with MONEY PRINTING and PROPAGANDA. This weekend’s impromptu “Spanish Bailout” was botched as badly as Facebook’s IPO, by the supposedly “top financial officials” of Europe. The “bailout” is nothing of the sort – simply €100 billion of PRINTED MONEY LOANS to insolvent Spanish banks, making them even more indebted as the Spanish economy collapses. Better yet, the money is supposed to come from the ESM – or European Stability Mechanism – which hasn’t yet been ratified by Germany!

A Blueprint to Kill JP Morgan’s Alleged Massive Manipulative Position in the Silver Futures Market

Our mission at SmartKnowledgeU, besides helping our clients to protect and grow their wealth in the face of the criminality of the global banking cartel, has always been, since day one, to also be a spark to reinstate a sound, gold-based monetary system. Bankers have released so much propaganda and deceit regarding the inability of our current fraudulent monetary system to return to a gold-based monetary system that I have written two books to be released this month and next that refutes the banker-created drivel and propaganda regarding the inapplicability of a gold-based system.

Silver Market Morning

Gold closed in New York at $1,626.20. The Fixing in London today was set at $1,623.5. In the euro it was set at €1,284.516. The changes since Friday have been slight, meaning the Greek election results have had little impact. Ahead of New York’s opening gold stood at $1,624.12 and in the euro, €1,283.30 while the euro was at €1: $1.2651.

Silver Market Morning

Gold closed in New York at $1,627.40. The Fixing in London today was set at $1,628.50. In the euro it was set at €1,291.743. Ahead of New York’s opening gold stood at $1,631.00 and in the euro, €1,293.73 while the euro was at €1: $1.2607.

Chink in the Armor

Today, the European contagion returned, as “official efforts” to juice markets – and thus, convince investors the Greek elections and FOMC dispatch were “bullish” – have FAILED. European markets imploded and the Dow fell 136 points, while gold, silver, and the HUI rose. This week’s “European summit” CANNOT and WILL NOT produce anything remotely constructive, with several nations – particularly, Spain and Italy – requesting bailouts despite no ratified mechanism – such as the European Stability Mechanism, which Germany has yet to approve. For the fifth time this year, PMs have risen while the Dow materially declined, demonstrating a major “chink in the armor” of TPTB, whom are desperate for investors to believe PMs are not safe havens. Which of course they are, as they have been for five millenia!

COMEX Silver Inventory Update: +599,997.06 ounces

COMEX Silver Inventory Update: +599,997.06 ounces

Silver Market Morning

Gold closed in New York at $1,604.40 down $18.4. A quiet London pulled it back to $1,599.40 ahead of the a.m. Fixing. The morning Fix today was set at $1,591.75 and in the euro at €1,285.535, while the euro stood at €1: $1.2382 down over one cent. The euro stood at €1: $1.2378 after the Fix. Ahead of New York’s opening gold stood at $1,593.00 in the middle and in the euro at €1,286.96.

Silver Market Morning

Gold closed in New York at $1,589.50 yesterday. Asia took it higher to $1,594ahead of London’s opening. London’s morning Fix today was set at $1,595.00 up $11 and in the euro at €1,296.853, while the euro stood at €1: $1.2299 up a cent on the dollar. Ahead of New York’s opening gold stood at $1,594.75 in the middle and in the euro at €1,297.39.

Silver is looking over the edge...

Silver is looking over the edge of what looks like the "Grand Canyon" on the 1 year daily chart, see right hand side below. I have highlighted the past three month price action on the daily chart, see left hand side below. In the near term these trendlines in the recent price action are key reference areas for me.

SilverCrest Announces Q2 Production 139,850 Ounces Silver & 8,584 Ounces Gold

“Operations at the Santa Elena mine enjoyed a robust second quarter with silver and gold production comfortably in line with our 2012 production guidance. This is the third consecutive quarter that we have operated at full, planned production rates. The crusher throughput averaged approximately 3,494 tonnes per day for Q2, 2012, compared to a plan of 2,500 tonnes per day. The open pit tonnes and grades continue to track closely with our geological block models and open pit mine plan. Cash costs for the quarter are anticipated to be consistent with our guidance of $8.20 per silver equivalent ounce. As a result of the strong first half of the year and projected production for the second half, the Company anticipates meeting or exceeding its 2012 production guidance of 435,000 ounces of silver and 33,500 ounces of gold”.

July 23: Gold and Silver End Modestly Lower

Gold fell to as low as $1563.41 by about 8:45AM EST, but it then rallied back higher throughout the rest of the morning in New York and ended near its noontime high of $1580.30 with a loss of just 0.42%. Silver slumped to as low as $26.671 before it also rallied back higher and ended with a loss of just 1.14%.

Silver Market Morning

Gold closed in New York at $1,582.30 yesterday. London opened higher rising to Fix at $1,587.50 $14 higher as the euro recovered back over 1: €$1.21. In the euro it was Fixed at €1,309.386 up €9 on yesterday morning, while the euro stood at €1: $1.2124 up 30 cents. Ahead of New York’s opening gold stood at $1,592.35 in the middle and in the euro at €1,310.63.

COMEX Silver Inventory Update: -66,421.358 ounces

COMEX Silver Inventory Update: -66,421.358 ounces

August 10: Gold and Silver Gain Over 1% on the Week

Gold fell $12 to $1605.70 in Asia, but it then rallied to as high as $1625.87 in New York and ended with a gain of 0.17%. Silver slipped to $27.613 in early New York trade before it surged back to $28.32, but it then drifted back lower in afternoon trade and ended with a loss of 0.4%.

August 24: Gold and Silver Gain Over 3% and 9% on the Week

Gold dropped $5.45 to $1662.55 in Asia, but it then rose to as high as $1673.36 in New York and ended with a gain of 0.05%. Silver climbed to as high as $30.712 and ended with a gain of 0.52%.

August 27: Gold and Silver End Near Unchanged

Gold climbed up to $1676.74 in Asia, but it then fell back off in London and New York and ended with a loss of 0.35%. Silver surged to as high as $31.241 in Asia before it also fell back off, but it still ended with a gain of 0.03%.