August 17: Gold Gains While Stocks Drop Over 1%

4 hours 47 min ago

Gold gained $8.10 to $1289.80 in Asia before it fell back to $1281.70 in late morning New York trade, but it then rallied back higher into the close and ended with a gain of 0.55%. Silver rose to $17.159 before it fell back to $16.977 and then also bounced back higher, but it still ended with a loss of 0.23%.

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.

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.

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.

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-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-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 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 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 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 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 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-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.

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 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 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 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 2: Gold and Silver Gain About 1% on the Week

Gold fell $8.30 to $1259.70 in Asia before it jumped up to $1279.00 in late morning New York trade and then drifted back lower in early afternoon action, but it still ended with a gain of 0.8%. Silver rose to as high as $17.571 and ended with a gain of 1.21%.

Safety in banking

There was a time when banks acted as custodians of their customers’ money. Indeed, keeping a person’s money and using it as if it belonged to you without their agreement is fraud in common law. A banking license legally exempts banks from charges of criminality in pursuing the normal course of fractional reserve banking business, by making it clear that you, the customer, agree to being a creditor of the bank instead of the bank acting as custodian for your money.

Silver Market Morning: June 2 2017 - Gold consolidating in a tight range!

As the gold price trading range tightens to a breakout point, we look at the silver price which is presenting a different Technical picture. If the gold price falls the silver price will tumble according to the charts. But if gold rises the silver price will follow as usual. But such a rise will change the Technical picture quite dramatically to the upside. Either way the silver price will prove more explosive than the gold price.

Silver and NASDAQ Strength Will Reverse

Prices for silver and the NASDAQ 100 rise exponentially as unbacked paper currencies are systematically devalued. Expect much higher silver prices because the silver to NASDAQ ratio is too low, along with dozens of other reasons. Consider taking profits out of the NASDAQ to buy silver. Don’t expect to hear this suggestion on Wall Street. Wall Street benefits from higher NASDAQ prices. Wall Street benefits little from higher silver prices, with the exception of JPM which, per Ted Butler’s data, has accumulated a massive hoard of silver bullion. Expect Wall Street to promote buying stocks and discourage acquisition of silver, as usual.

Zinc One Completes Forrester Acquisition and Appoints Chief Operating Officer

Zinc One Resources Inc. (“Zinc One or the Company”) and Forrester Metals Inc. (TSX-V: VEM.H) (“Forrester”) are pleased to announce, further to their news releases on February 1, 2017, March 7, 2017, and May 18, 2017, that Zinc One has received all necessary documents and approvals and completed its acquisition of all the issued and outstanding common shares of Forrester (the “Transaction”).

June 1: Gold and Silver End Near Unchanged Before Jobs Day

Gold fell $6.60 to $1261.60 at about 8:30AM EST, but it then bounced back higher in afternoon trade and ended with a loss of just 0.02%. Silver slipped to as low as $17.039 and ended with a loss of just 0.06%.

Silver Market Morning: June 1 2017 - Gold consolidating in a tight range!

The dollar continues to weaken slightly and the gold price in the dollar continues to rise, as it is doing in all currencies except the Yuan. The Technical picture shows that it is above resistance but has not yet run as it would have done in the past. Instead it is showing a steady plod with higher lows and higher highs. As we have been pointing out in the Shanghai section above, the influence of Shanghai on the gold price is visible. Its slow plod higher, we see, as evidence of Chinese price dominance at the moment.

Silver Standard Forms Joint Venture with Golden Arrow and Files Technical Report for the Chinchillas Project

Silver Standard Resources Inc. (SSRI) (SSO.TO) ("Silver Standard") announces that the transaction to form a joint venture with Golden Arrow Resources Corporation (GRG.V) ("Golden Arrow") for the development of the Chinchillas project ("Chinchillas" or the "project") closed today.

December 18: Gold and Silver Fall Almost 2%

Gold fell $36.70 to $1661.30 by early afternoon in New York before it rallied back higher in the last couple of hours of trade, but it still ended with a loss of 1.48%. Silver slumped to as low as $31.35 and ended with a loss of 1.77%.

December 26: Gold and Silver Gain With Oil

Gold climbed up to $1667.63 by about 9:15AM EST before it fell back off midday, but it still ended with a gain of 0.1%. Silver surged to $30.21 before it slipped back to $29.842 and then rallied back higher in early afternoon New York trade, but it then fell back off again in the last hour of trade and ended with a gain of just 0.23%.

January 16: Gold and Silver End Slightly Higher

Gold climbed $5.86 to $1684.76 in Asia before it fell back to $1673.59 at about 8AM EST, but it then rallied back higher in New York and ended with a gain of 0.06%. Silver rose to $31.46 in Asia before it fell back to $31.07 in London, but it then climbed to as high as $31.551 in New York and ended with a gain of 0.25%.

COMEX Silver Inventory Update: -257,806.020 ounces

COMEX Silver Inventory Update: -257,806.020 ounces

January 24: Gold and Silver Fall About 1% and 2%

Gold fell to as low as $1665.12 at about 10AM EST before it bounced back higher in the next hour of trade, but it then drifted back lower again into the close and ended with a loss of 1.06%. Silver slipped to as low as $31.60 and ended with a loss of 1.83%.

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%.

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.