May 21: Gold and Silver Reverse Overnight Losses To End Higher

23 hours 3 min ago

Gold fell $9.70 to $1282.00 in Asia, but it then rallied back higher throughout trade in London and New York and ended near its late session high of $1292.90 with a gain of 0.04%. Silver rose to as high as $16.516 and ended with a gain of 0.43%.

Canada’s Dr. Doom Likes Silver

Money manager Eric Sprott has gained a reputation as an implacable bear, Canada’s version of Nouriel Roubini (aka Dr. Doom). In fact, that has not always been the case. Back in the 1980s, Sprott was bullish on the stock market. But that’s ancient history. Since 1999, he has been Canada’s highest-profile doomsayer. To hear him tell it, the markets are in long-term decline and everything is going to hell.

$100 silver (and $4,000 gold) or lower bullion prices and $20 silver asks inaugural DMCC Precious Metals Conference

Far from being the usual boring consensus event for gold prices, the inaugural Dubai Multi Commodities Centre Precious Metals Conference today struck a decidedly controversial note. Ross Norman of the blue-blooded Sharps Pixley brokers from London was the leader of the bullish camp. He forecast $3,500-4,000 gold prices and $100 an ounce for silver by 2017. His masterly presentation entitled ‘Silver has the bubble burst?’ argued that no it had not, and that merely projecting forward recent growth rates arrived at $100 an ounce within five years. Negative real interest rates were the reason for high precious metal prices cited by most experts. In short inflation is higher than the cost of money so cash on deposit is losing money.

SilverSeek.com April Traffic: 117,213 Unique Visitors

SilverSeek.com Website Traffic Report*: April 1 - 30, 2012: Unique Visitors: 117,213 Visits: 266,702 Page Views: 970,003 April 30, 2011 - April 30, 2012: Unique Visitors: 1,538,596 Visits: 4,673,616 Page Views: 16,362,067 * Directly verified and reported by Google.com Analytics.

Silver Prices: New Chinese Futures Trading Supports Rally

We already told you that silver prices would rally this year, and developments last week could make the surge approach even faster. The white metal was trending down last week until dovish remarks from Team Bernanke following the Federal Open Market Committee meeting on April 25 reversed the price slide. Spot silver prices on the Comex ended the week at $31.27.

April 30: Gold and Silver End Mixed

Gold edged up to $1665.80 in Asia before it fell back to $1646.42 in early New York trade, but it then climbed to a new session high of $1666.20 at about 3PM EST and ended with a gain of 0.23%. Silver slipped to as low as $30.574 before it also bounced back higher, but it still ended with a loss of 0.83%.

Critical Factors that will Impact Silver

The fundamentals for silver today are even better than they were last year when its price and sentiment were higher. Nevertheless, consumer affinity for precious metals has turned rather pessimistic presently. This may be indicated by those who see a rise in the COMEX silver inventories as well as a drop-off in Silver Eagle purchases. Furthermore, our favorite so-called precious metals analysts (more like Bears in a Bull’s skin) have come out of the woodwork to rub it in that the “GOLD BULL MARKET IS NOW OVER.”

April 27: Gold and Silver End Mixed on the Week

Gold fell $7.13 to $1650.47 in Asia before it shot up to $1667.30 in New York and then pared its gains a bit in the last few hours of trade, but it still ended with a gain of 0.28%. Silver surged to as high as $31.435 and ended with a gain of 0.61%.

Futures exchange to offer contracts for silver

The Shanghai Futures Exchange received regulatory approval on Wednesday to start trading in silver contracts, giving Chinese investors a new way to bet on the precious metal.

The Silver Megathrust

Between 1970 and 1979, the silver price was increasing steadily from $1.50 to $6, before taking off in September 1979 from $10 to $50 within 5 months. During that bull cycle, demand for silver did not increase but actually declined (sharply in 1979). It was as late as 1983 when demand increased confidently from 12,000 to 27,000 tons per year until 2000 – yet the silver price was in a 20 year bear market during that time. In 2003, when silver started its new bull market, the demand actually dropped to 23,000 tons until 2005 – during which 2 years silver almost doubled from $4.50 to $8. Since 2005, demand is rising stronger than ever, having reached 33,000 tons in 2010, whereas the silver price is rising strongly as well.

What Good is it if you Can't Spend It?

Buying silver and gold today will likely be better than buying Microsoft or Apple stock way back when they first came out, and this article addresses the fundamental reasons why. People often ask, "What good is silver or gold if I can't spend it?" But that's exactly why we all should buy it! Low monetary demand means silver and gold are still cheap and undervalued liquid assets that investors should crave.

April 26: Gold and Silver Gain About 1%

Gold saw modest gains in Asia and London, but it then accelerated even higher in New York and ended near its early afternoon high of $1660.90 with a gain of 0.84%. Silver surged to as high as $31.29 and ended with a gain of 1.2%.

COMEX Silver Inventory Update: +47,007 ounces

Silver Warehouse Stocks: 140,648,049.776 +47,007.97

Coeur’s Kensington Mine Returning to Full Production Ahead of Schedule

Coeur d’Alene Mines Corporation (NYSE: CDE, TSX: CDM) reported today its Kensington gold mine is resuming full production ahead of schedule.

Huldra Silver Announces Entry Into Lead Silver Ore Purchase Agreement

Huldra Silver Inc. (HDA.V, HUSIF.PK) (the "Company" or "Huldra") is pleased to announce that it has entered into a Lead Silver Ore Purchase Agreement (the "Agreement") with a smelter whereby Huldra has agreed to sell approximately 35 to 40 tonnes of ore from the East Zone to the smelter in exchange for payment that is tied to monthly prices for lead and silver as published by the Metal Bulletin, less certain deductions. The approximate grade of the ore removed from surface in the East Zone last September was 66% Pb and 194 oz/ton Ag. Based on the terms of the Agreement and current market prices, the approximate total payment for contained lead and silver is expected to be between $200,000 and $250,000.

Bull Hammer in Silver

There was some major downside price rejection yesterday in Silver which can be seen clearly in the bull "Hammer" daily candlestick pattern. This should make the bears think twice about their prospects. There is potential here for a near term change in trend, but it is important to remember Japanese Candlestick patterns are useless without confirmation.

April 25: Gold and Silver End Mixed

Gold waffled near unchanged in Asia and London and edged up to $1644.30 at about 9:15AM EST before it dropped to as low as $1625.25 immediately after today’s fed statement, but it then climbed to as high as $1646.20 in afternoon trade and ended with a gain of 0.16%. Silver slipped to as low as $29.98 before it also recovered, but it still ended with a loss of 0.29%.

Silver Warehouse Stocks Update

Will Silver and Platinum Outperform Gold in the Near Future?

Summing up, the long-term picture in the USD market continues to appear a bit more bearish than not and the implications for the precious metals are generally positive. The silver-to-gold ratio chart suggests that silver is likely to outperform gold in the months to come, yet it should be kept in mind that this may require some time to happen. Additional short-term volatility has been seen in the platinum market, but this is not unusual.

Federal Reserve Press Release On Economic Projections

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached table and charts summarizing the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the April 24-25 meeting of the Committee.

December 20: Gold and Silver Bounce Back From Morning Losses To End Mixed

Gold fell $12.82 to $1126.48 in late morning New York trade before it jumped back higher heading into the afternoon, but it still ended with a loss of 0.68%. Silver fell to as low as $15.626 at one point, but it then rose to as high as $16.082 in early afternoon trade and ended with a gain of 0.37%.

December 21: Gold and Silver End Mixed Again

Gold gained $5.51 to $1137.01 in Asia before it drifted back to $1130.09 in late morning New York trade, but it then bounced back higher into the close and ended with a gain of 0.01%. Silver edged up to $16.178 before it fell back $15.907 and then also rebounded, but it still ended with a loss of 0.62%.

December 22: Gold and Silver Edge Lower With Stocks

Gold popped up to $1134.04 in midmorning New York trade before it fell back to $1127.80 in early afternoon trade and then bounced back higher at times, but it still ended with a loss of 0.25%. Silver slipped to as low as $15.765 and ended with a loss of 0.94%.

December 23: Gold and Silver End Slightly Lower on the Week But Miners Gain

Gold rose to as high as $1135.53 in late morning New York trade before it drifted back lower into the close, but it still ended with a gain of 0.28%. Silver slipped to as low as $15.68 and ended with a loss of 0.51%.

January 3: Gold and Silver Gain Roughly 1% and 2%

Gold gained $8.17 to $1158.77 in Asia before it fell back to $1146.24 in London, but it then rallied to a new session high of $1163.18 in New York and ended with a gain of 0.77%. Silver rose to as high as $16.485 and ended with a gain of 2.07%.

January 4: Gold and Silver Gain Again

Gold gained $8.25 to $1167.75 by a little after 8AM EST before it chopped back lower at times, but it still ended with a gain of 0.34%. Silver rose to as high as $16.522 and ended with a gain of 0.86%.

Silver Market Morning: Jan 5 2017 - Gold and Silver prices follow Shanghai higher!

Shanghai gold prices continue to rise slightly on a daily basis and both London and New York are moving higher, faster as they appear to be catching Shanghai up. This again confirms that demand in Shanghai is solid and solid enough to pull gold out of the developed world gold markets. The strength or weakness of the dollar is not affecting this as you can see in Yuan prices. These appear to be rising in a relatively stable pattern over the last month. It is the translation into dollar prices that reflects dollar moves.

January 5: Gold and Silver Gain Over 1% More

Gold gained $15.41 to $1178.91 in Asia before it pared back to $1170.62 in London, but it then rose to a new session high of $1184.82 in New York and ended with a gain of 1.52%. Silver rose to as high as $16.709 and ended with a gain of 1.16%.

January 6: Gold and Silver Gain About 2% and 3% on the Week

Gold fell $10.21 to $1170.99 by early afternoon in New York before it bounced back higher into the close, but it still ended with a loss of 0.69%. Silver slipped to as low as $16.307 and ended with a loss of 0.84%.

January 9,: Gold and Silver Gain Almost 1% While Dow Drops With Dollar

Gold gained $12.88 to $1185.88 in early afternoon New York trade before it drifted back lower into the close, but it still ended with a gain of 0.81%. Silver surged to as high as $16.69 and ended with a gain of 0.55%.

January 10: Gold and Silver Gain Again

Gold gained $5.05 to $1187.55 in Asia before it fell to see a slight loss at $1181.07 in London, but it then jumped to as high as $1190.45 in New York and ended with a gain of 0.4%. Silver rose as high as $16.904 and ended with a gain of 1.33%.

Cambridge House International and Katusa Research: Vancouver Resource Investment Conference 2017

Highlights at the conference will be a fire-side chat with mining billionaire, Frank Giustra, Morning Star's #1 rated gold fund manager, Frank Holmes, several live-on stage "CEO grillings" hosted by Katusa Research founder and CEO, Marin Katusa, and a Roast of legendary investor, author and mining newsletter writer, Doug Casey.

Silver Market Morning: Jan 16 2017 - Gold and Silver correcting, U.S. buying!

Shanghai gold prices, having corrected on Friday, are, again, moving higher in Shanghai touching 270.1 Yuan or $1,211.1 in today’s trading [using the same quality of gold]. It is always tempting to make prices simple to understand even if it means attributing any moves in the gold price to any handy piece of news locally. But that would be misleading. Chinese prices are rising because of Chinese market conditions, not because of Trump’s latest tweet.

January 17: Gold and Silver Gain Over 1% and 2%

Gold traded mostly modestly higher in holiday thinned trade yesterday and rose to as high as $1218.68 in London today before it chopped back lower at times in New York, but it still ended with a gain of 1.44% from Friday’s close. Silver rose to as high as $17.20 and ended with a gain of 2.2%.

January 19: Gold Pares Early Losses To End Only Slightly Lower

Gold fell $7.89 to $1197.71 in Asia before it bounced back to $1205.85 in early New York trade and then fell to a new session low of $1195.98 at about 10AM EST, but it then rallied back higher into the close and ended with a loss of just 0.07%. Silver slipped to as low as $16.736 before it also bounced back higher, but it still ended with a loss of 0.47%.

Silver Market Morning: Jan 20 2017 - Gold and Silver consolidating around $1,200!

Some may feel that because London is the main physical market in the developed world it supplies China exclusively. Yes, the world’s main bullion banks are based in London, but they operate in both centers. Their hold over supply is far less than most believe. For instance the Rand Refinery in Johannesburg South Africa will sell to any buyer including the Chinese directly. It does not have exclusive agreements with the world’s main banks, as it had in 1974 with the three main Swiss Banks [the ‘pool’].

Market Report: Bear squeeze continues

This week saw some consolidation of the rise in gold and silver prices since the start of the year. This is hardly surprising, because in four weeks, gold has risen from an intraday low of $1122.9 through $1200 with very little consolidation. Therefore, to tick back from $1219 to find support at the $1200 is only to be expected.

January 20: Gold and Silver Gain Almost 1% and 2% on the Week

Gold gained $4.26 to $1209.06 in Asia before it fell back to $1198.66 in London, but it then jumped up to $1214.79 in afternoon New York trade and ended with a gain of 0.23%. Silver rose to as high as $17.148 and ended with a gain of 0.41%.

January 23: Gold and Silver Gain While Dollar Drops

Gold gained $11.85 to $1219.45 in Asia before it fell back to $1209.43 by a little before 10AM EST, but it then jumped up to $1218.90 by midday in New York and ended with a gain of 0.64%. Silver rose to as high as $17.247 and ended with a gain of 0.64%.

January 24: Gold and Silver Fall Slightly While Stocks Climb To New Highs

Gold saw slight gains in Asia before it fell back to $1211.64 in London and then jumped up to $1217.62 in midmorning New York trade, but it then fell back off into the close and ended near its late session low of $1206.68 with a loss of 0.44%. Silver slipped to as low as $17.038 and ended with a loss of 0.41%.

January 25: Gold Falls Back Towards $1200 While Dow Tops 20,000

Gold fell $16.55 to $1193.35 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.81%. Silver slipped to as low as $16.775 and ended with a loss of 0.7%.

January 26: Gold and Silver Fall Again

Gold fell $15.54 to $1184.56 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.92%. Silver slipped to as low as $16.683 and ended with a loss of 1.12%.

January 27: Gold and Silver End Mixed on the Week

Gold fell $8.48 to $1180.62 at about 8:45AM EST, but it then chopped back higher for most of the rest of trade and ended near its last minute high of $1191.60 with a gain of 0.15%. Silver surged to as high as $17.228 and ended with a gain of 1.9%.

January 30: Gold and Silver Gain While Stocks and Dollar Drop

Gold gained $4.74 to $1195.64 in Asia before it fell back to $1188.25 in London, but it then rose to a new session high of $1199.29 in New York and ended with a gain of 0.41%. Silver rose to as high as $17.27 and ended with a gain of 0.06%.

January 31: Gold and Silver Gain Over 1% and 2%

Gold gained $7.18 to $1202.98 in early Asian trade before it dropped back to $1196.33 at about 4AM EST, but it then rose to as high as $1215.31 by midmorning in New York and ended with a gain of 1.36%. Silver surged to as high as $17.609 and ended with a gain of 2.45%.

Silver Market Morning: June 5 2017 - Gold consolidating with a positive bias!

New York closed $4.17 lower on Friday than the Shanghai Gold Exchange was trading at today ahead of Monday’s opening. London opened at around $1 lower than Shanghai was trading earlier today. These are very small price differences evidencing arbitrage operations at very professional levels [likely banking operations]. We have been watching these markets, as you know, very carefully over the last year.

June 5: Gold and Silver End Slightly Higher

Gold gained $4.80 to $1283.00 by a little after 8AM EST before it dropped back to $1277.90 in the next four hours of trade, but it then chopped back higher into the close and ended with a gain of 0.11%. Silver rose to as high as $17.634 and ended with a gain of 0.29%.

Silver Market Morning: June 6 2017 - Gold poised to attack $1,300!

One is guarded about figures from Hong Kong being representative of Chinese demand. Gold enters China from Switzerland but also through Beijing and other ports of entry. In addition, the country mines around 450 + tonnes a year. It also imports gold directly from mines it owns outside the country. So the figures mentioned here are just part of the picture. What we do learn from these is that Chinese demand is running close to record levels. The government has encouraged this as a matter of policy, so as to build up the nation’s gold.

June 6: Gold and Silver Gain With Bonds and Oil

Gold climbed higher throughout most of world trade and ended near its late morning New York high of $1295.90 with a gain of 1.11%. Silver rose to as high as $17.741 and ended with a gain of 0.68%.

Silver Market Morning: June-7-2017: Draghi and the E.U.

British Elections happen tomorrow. With the discussions around the size of the conservative majority it appears to us that the result will not affect the gold price. Draghi and the E.U. With inflation falling in the E.U. problems in the banking sector [Banco Popular has just been taken over by Santander in Spain] Draghi, who has repeatedly said that policy makers must be convinced that inflation can rise toward 2% on its own, before removing monetary stimulus, is set to leave the current stimulus position in place through the rest of this year. This is positive for gold.

Silver Market Morning: June-8-2017: U.K. elections and Draghi

Growth in the Eurozone is now clearly evident, but inflation is falling. As we said yesterday, Draghi, who has repeatedly said that policy makers must be convinced that inflation can rise toward 2% on its own, before removing monetary stimulus, may well make a point of this, but will, it seems only change his language in the statement slightly confirming this. This is positive for gold.

Silver Market Morning: June-9-2017

British Elections have turned out to be disaster for Prime Minister May as we see a hung Parliament. As a result we expect to see more easing and perhaps a rate cut in the near future as uncertainty kicks into the way forward for Brexit. Most believed that the only issue was the size of the conservative majority. But this result changes things. Already the gold price is rising in the pound sterling, as the pound falls heavily.

Silver Morning: June-12-2017: reacting to currency moves now!

We also doubt that the gold mining companies would ever again embark on an exercise to raise production at the request of and with the support of bullion banks with the backing of central banks as they did at the end of the last century. This leaves global central banks on balance being buyers not sellers, in the future.

Silver Morning: June-13-2017: waiting for the Fed tomorrow!

While the markets continue towards the expectation that there will be a rate hike by the Fed tomorrow, more and more people are saying what we said yesterday, “With Janet Yellen such a cautious person she may well have been disturbed by the poor data of late. While 94% of the market believes a rate hike must come this week, there is room, we believe, for a delay in the rate hike until the data is more positive. If she does, you will see the dollar weaken and perhaps equity indices move too high. We see gold benefitting if this does happen.”

Silver Market Morning: June-14-2017 -- waiting for the Fed!

While there is no evidence of Chinese gold price manipulation we have seen gold’s pricing power shift to Shanghai. But with Shanghai trading gold lower than New York and London, that pricing power evaporated yesterday and today, because of demand for gold in western markets. Shanghai’s figures tomorrow will expand that story. It certainly does not seem that lower Shanghai gold prices can pull London and New York down. What is very true is that China has bought as much gold as they can when the bears did drive prices down and will continue to do so whenever they can. Will higher prices make them stop buying? We think not as the Chinese middle classes continue to burgeon.

Silver Market Morning: June-15-2017 -- Silver on the back foot after the Fed!

In essence, Janet Yellen’s statement showed that the Fed sees a moderately growing U.S. economy that will continue to grow at a moderate pace. No accommodation of President Trumps intended policies was made. The Fed Funds rate after the rise is lower than inflation levels and look like remaining there as the Fed Funds rate, if the economy remains on the path they expect it will. If the economy remains on this path, then by the end of the year, the Fed will begin to reduce its Balance Sheet. It will be a very slow process intended to give markets no stress. As a result equity markets may rise more ignoring institutional worries that they are already too high. It is clear that hopes of a robust economy in the near future are unrealistic. For gold this was overall positive because of low inflation levels.

Silver Morning: June-16-2017

Gold pulled back after the Fed’s announcement yesterday, but appears to have been factored in to the gold price now. What influences will now be brought to bear on the gold price. First and foremost the trend will dominate, alongside the path forward for the dollar. Shanghai will more than likely increasingly dominate the gold price.

Silver Market Morning: June 19 2017 - Gold stabilizing around $1,250!

Hong Kong’s central bank has stated that it prefers a stable exchange rate against the dollar. It is not independent of Shanghai and, judging by today’s exchange rate the People’s Bank of China agrees as we see the Yuan virtually unchanged today. This will allow us to see more clearly the differences between the Shanghai gold Exchange prices and London and New York.

Silver Morning: June-21-2017

The oil price will affect global markets as it struggles to stay close to $50. Today it continues to fail to hold onto that price area. With U.S. production growing alongside that of Iraq and Libya growing supplies are countering the production cuts of others in OPEC and Russia. There is a distinct danger that the continued increase in overall oil production globally will take the oil price down further and into an area from where it is unlikely to recover for a long time.

My Newest "Most Likely To Catalyze The Big One"

Today's article is one of my scariest yet; as, after watching events unfold in the world's most notorious geopolitical hotspot in recent weeks, it's difficult to come up, using my best Spock-like logic, with an alternative conclusion to the potentially catastrophic one I'll discuss today. Which, if it occurs, may catalyze not only the financial "big one" we all know is coming, but an era of political, geopolitical, economic, and monetary destabilization unlike; and potentially, unparalleled in its destructive value; anything yet witnessed.

Abraplata begins 2,000 m drill program at Diablillos

Abraplata Resource Corp. has started a 2,000-metre diamond drilling program on its Diablillos silver-gold project in southern Salta province of northwestern Argentina. The objective of the planned diamond drill program is to establish a resource within Fantasma Mineralized Zone with a view to further expanding the existing resources outlined at the Oculto Deposit, some 800m to the east of Fantasma. This will allow the Company to establish the parameters necessary for completing a Preliminary Economic Assessment study. Diablillos lies at an elevation of 4100m above sea level, and covers an area of some 79km 2 . The property hosts Ag-Au epithermal mineralization within a north-trending graben which traverses most of the property. This mineralization includes the Oculto deposit for which an indicated resource has been estimated consisting of 27.7m tonnes at 91.2g/t Ag and 0.85g/t Au and containing 81.3m oz Ag and 755k oz Au (135m oz AgEq or 1.9m oz AuEq). Reference is made to the Technical Report dated November 2, 2016 prepared by Roscoe Postle Associates Inc., a copy of which is filed under the Company's profile on SEDAR.

Silvercrest drills 7.6 m of 502 g/t AgEq at Las Chispas

Silvercrest Metals Inc. has released additional drill results for the Babicanora vein within the Las Chispas property located in Sonora, Mexico. These further drilling results, combined with results announced on March 2, 2017, show an increased high grade footprint within the Babicanora Vein (see attached Figures). The Babicanora Vein is one of 19 epithermal veins that have been identified to date on the Property, which historically was one of the largest silver-gold producers in Sonora. As part of the Company's ongoing Phase II exploration program, four drills are currently working at the Las Chispas, William Tell, Varela, Giovanni and Babicanora veins, with further results anticipated over the next several months.

Silver Market Morning: June 23 2017 - Gold rising above $1,250!

Shanghai is leading the way up again, albeit the rises are not that significant except to give the next direction. The gold price appears to have bottomed in all three global gold markets. We therefore must adjust our assessment of the gold price’s direction accordingly. While the Technical picture still remains a guide, the gold price is showing it must wait for Shanghai to lead the way.

Left wing, right wing, and free markets

One of the saddest things about Britain’s recent general election was the level of ignorance displayed by all parties on the broad subject of political economics. I use the term to include both political philosophy and pure economic theory.

June 23: Gold and Silver End Slightly Higher on the Week

Gold gained $8.70 to $1258.80 in early New York trade before it drifted back lower into midday, but it still ended with a gain of 0.46%. Silver rose to as high as $16.788 and ended with a gain of 0.78%.

Silver Market Morning: June 26 2017 - Gold knocked back to $1,240 early after London’s opening!

Shanghai is leading the way up again as New York closed $2.60 lower than Shanghai’s close on Friday. This morning Shanghai started the week nearly $4 higher than New York’s Friday close as the Yuan weakened against a weakening dollar. We note that the P.B. of C. has stated it wants to trade against a basket of currencies not just the dollar but today while other currencies are stronger against the dollar the Yuan is weaker.

June 26: Gold and Silver Fall Almost 1%

Gold fell $19 to $1236.90 in London before it bounced back higher in New York, but it still ended with a loss of 0.92%. Silver slipped to as low as $16.437 and ended with a loss of 0.78%.

Silver Market Morning: June 27 2017 - Gold recovers very quickly from dubious sale!

Yesterday, we thought the sale at the open in London must have been a physical sale, but it wasn’t, it was a ‘paper’ sale, where it was thought that someone made a huge mistake selling ‘lots’ in the futures market instead of ounces. The deal was 56 tonnes of gold a massive amount that has not been seen since the gold price was crushed in 2013. Whatever it was, we learned a great deal about the behavior of markets then right up until now and likely tomorrow.

June 27: Gold and Silver Gain While Stocks, Dollar, and Bonds Fall

Gold gained $8.60 to $1252.90 in Asia before it fell back towards unchanged in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.39%. Silver climbed up to $16.70 before it fell back to $16.563, but it then jumped to a new session high of $17.747 in the last hour of trade and ended with a gain of 0.66%.