Silver ETFs post 'massive' inflows as prices recover

12 hours 4 min ago

“Silver ETFs have registered massive inflows this week,” said Commerzbank analyst Carsten Fritsch. Inflows of 57 metric tons were reported Thursday, with just shy of 560 tons going into these ETFs since the start of the week, Fritsch said. Further, inflows over the past seven trading days have totaled nearly 1,000 tons.

As gold and silver catch fire, what's happening?

Ordinarily it would seem that circumstances are hugely favorable to gold and silver. But if governments lose on the market-rigging front, they can always become more openly totalitarian -- confiscating gold or outlawing private possession of monetary gold, imposing windfall profits taxes on capital gains in gold, raising royalty requirements on gold-mining companies to prohibitive levels, and so forth. So even as we all may hope for the best -- free and transparent markets, and limited and accountable government -- your secretary/treasurer's only prediction is borrowed from Orwell's "1984": "If you want a vision of the future, imagine a boot stamping on a human face, forever." To prevent that is another reason to press on in the morning.

Silver Prices – The Next Five Years

Silver prices move higher as population adjusted national debt increases. (Dollar devaluation drives all prices higher.)Silver prices move higher and lower with crude oil, another commodity. Silver prices move opposite to the S&P 500 Index. (Investor preference for commodities versus paper assets.) The model weighs and combines these macroeconomic variables to produce a “calculated silver price.” Call it a “fair value” price.

Why The Coming Silver Rally Might Be The Greatest

n the last one hundred years there have been some great silver rallies. Some have been greater than others though. The economic conditions underlining the different silver rallies were not all the same. Obviously those that occurred during conditions most conducive to silver rallies were the great performers. The coming silver rally could be the greatest especially since it potentially has most conditions in common with the great silver rallies.

Two sectors with mind boggling potential over the next 5-10 years

While I think we are entering an inflationary phase and during an inflation everything tends to go up together (at least during the initial and middle phase of the inflation) there are two sectors in particular that I think have absolutely mind boggling potential over the next 5-10 years. Silver maybe more than anything is a time bomb waiting to explode. You rarely get a prettier (and longer) basing phase than this one..

Goldfinger, Silver and Gold

As of July 5, the gold to silver ratio stood at 93, the highest since 1993. This ratio is not a precise timing indicator, but high ratios have always indicated major bottoms in both metals. While low silver prices anger some investors, the wise are buying. The stock market since 2009 has rallied based on near-zero interest rates, huge stock buybacks benefiting management, media hype, and trillions of new corporate, government and individual debt. It might rally further, but a risk to reward analysis suggests a high risk and low potential reward for the over-valued stock market in 2019. Silver is in the opposite position. Prices have fallen for eight years and built a five-year base. Expect much higher prices in late 2019 and 2020.

Silver Seeks to Catch Up With Gold

The best performing metal this week was silver, up 6.40 percent on perhaps a paradigm shift as the investors poured $133 million into silver bullion ETFs on Wednesday, the single biggest inflow in six and a half years. The weekly Bloomberg survey of gold traders and analysts shows that most are bullish on the yellow metal as prices broke through a five-year high and touched $1,453 per ounce on Friday morning. Traders seem to be set on an interest rate cut from the Federal Reserve this month, which is helping gold, even as some better-than-expected economic data was released on Tuesday. Turkey, which often sells its gold, saw its reserves rise by $71 million this week compared to last.

Precious Metals Big Picture, as Silver Gets on Its Horse

While many are talking about major new bull markets in gold, silver and the miners I find it safer to set realistic goals within a still very bullish outlook. After all, we became bullish in November, had to retrench due to over-bullish sentiment and fading fundamentals in February (both situations linked here) and then have been back in the bull seat since the gold stock launch as noted on June 3rd. The point being, I have nothing to prove to you; nothing to woo you and tempt your greed impulse about. NFTRH has simply called the sector in line with its fundamentals and technicals, and that is what we continue to do as of this day. We chart 20 quality miners (+/-) each week and note short-term targets, resistance, etc. for the miners, gold and silver routinely.

Silver Seems To Shock The Market

Well, as I think about it, I am starting to understand the shock if you had been reading what everyone has been writing about silver. Whereas the rest of the complex has already moved strongly higher, silver has been significantly lagging. And, I have been hearing one excuse after another as to why it is lagging, such as silver “has been acting as an industrial metal.”. But, last I looked, the economy was humming along. So, why would an industrial metal be lagging? Moreover, it certainly did not act like an industrial metal on Tuesday.

Silver rallies to its highest in over a year, plays ‘catch up’ to gold’s gains

"He said gold and silver investors have not missed much of this rally, though in the short term the rally may be overextended when it comes to some miners. Over the coming months and year, however, Spina believes he sees “one of the best risk/reward [opportunities] in the gold/silver sector since I started buying juniors as a teenager, some 25-[plus] years ago.”

Silver's Promising Surge

Buyers surpassed a 15.840 target I'd flagged earlier in the week with such ease that a test of a more daunting obstacle at 16.470 seems all but inevitable. That's where September Silver double-topped earlier in 2019. If the rally should exceed these peaks as easily as did the 15.840 pivot today, that would greatly strengthen the case that a powerful new bull market has begun. More immediately, look for a short-term finishing stroke to 16.190, the Hidden Pivot target of the pattern shown in the chart.

Gold & Silver Miners: The Hot Action Is Now

- Please click here now. Double-click to enlarge this daily silver chart. Like Rodney Dangerfield, silver doesn’t get much respect, but that’s because inflation has yet to really surge. - Having said that, the silver chart is beginning to look quite bullish. A breakout from an inverse H&S bottom pattern has occurred, and the pullback was flag-like. - The target of both the flag and the H&S pattern is the $16.50 area highs of February.

This Needs To Happen Before Silver Really Takes Off

What is significant about this peak-level in the Gold/Silver ratio is the fact that it is so close, and follows the 2016 bottom in interest rates. These confirm that some very serious credit woes are coming. It is likely on a scale not seen over the last 100 years. We can expect a rush for real monetary assets as never seen before. This will put silver again at the forefront of money and monetary solutions.

Very Long-Term Silver

Just for fun because I am a chart guy who all too often bores you (and me) to death with ratio and indicator charts and all too seldom makes charts just for the fun of it anymore… So this long-term silver chart is just for the fun of it. What do we have here?

A Pretty Ugly COT Report in Gold. Silver..

Also in silver, 26 non-U.S. banks are net short 36,928 COMEX contracts in the July BPR...which is up a decent amount from the 27,599 contracts that 21 non-U.S. banks were short in the June BPR. I would suspect that Canada's Scotiabank [and maybe one other, the BIS perhaps] holds a goodly chunk of the short position of these non-U.S. banks. I believe that a number of the remaining 24 non-U.S. banks may actually net long the COMEX futures market in silver. But even if they aren't, the remaining short positions divided up between these other 24 non-U.S. banks are immaterial - and have always been so. As of July's Bank Participation Report, 30 banks [both U.S. and foreign] are net short 36.5 percent of the entire open interest in the COMEX futures market in silver-which is up a monstrous amount from the 16.3 percent that they were net short in the June BPR - with much, much more than the lion's share of that held by Citigroup, HSBC USA, JPMorgan, Scotiabank -- and certainly one other non-U.S. bank.

Kootenay to Commence Drilling at Columba Silver Project, Mexico

Kootenay President and CEO, James McDonald stated: "We are excited to test the vein system to confirm the historically reported grades and widths. The first 12 holes of the drill program will be designed to test the F vein where underground development work extended to 200 meter depth and the historic mining occurred."

If History Still Matters, Silver Is Poised For A Huge Move

It’s been a pretty good couple of months for precious metals, but more so for gold than silver. Both are up but gold is up more, and the imbalance that this creates might be one of the major investment themes of the next few years. The gold/silver ratio – that is, how many ounces of silver it takes to buy an ounce of gold – has bounced all over the place since the 1960s. But whenever it’s gotten extremely high – say above 80 – silver outperformed gold, sometimes dramatically.

Will Silver Soon Follow Gold’s Lead?

The super-rich and large institutional investors who are more apt to take contrarian positions in overlooked assets generally prefer gold over silver because it is more convenient for them to accumulate in large quantities. We are still in the stealth phase of a precious metals bull market. When we enter the public participation phase – and demand for physical bullion increases – we have no doubt that silver will shine.

These Two Charts Virtually Scream “Buy Silver”

Silver is currently trading around $14.84 an ounce. This is around 30% of its 1980 all-time high of $50. However, this is an incomplete representation of what silver is really trading at, relative to US dollars. When you look at the silver price, relative to US currency (the amount of actual US dollars) in existence, then it is at its lowest value it has ever been (see chart below). Also, it is ridiculous that one ounce of silver cost $50 in 1980 when there were about 132 billion dollars in existence, whereas today it is only $14.84 at a time when there are 3 304 billion dollars in existence (note that I have used rounded numbers which created some distortion).

The Rise of Silver and Major Economic Decline

Currently silver priced in the Dow is close to all-time lows. Economic conditions has been favourable to paper and debt-based assets. The bullish wedge is an indication that all this is about to change. There has now been a breakout of the wedge and the ratio seems ready to go much higher. On the chart, I have indicated how the periods indicated by the green arrows have been associated with economic prosperity, and the red one with economic decline...

Kootenay Reports Columba Access Road and Surface Access Agreement Completed

Since acquiring Columba, the Company has undertaken a mapping and surface sampling program with silver grades of up to 693 gpt sampled on surface. This area includes a network of underground workings comprised of 4 shafts and 6 levels of drifts reported to measure over 1,000 meters in length. Historic* mine records indicate grades from these underground workings to range from 600 to 900 gpt silver with highlights of 1,900 gpt silver over 4 meters and 679 gpt silver along 133 meters of vein strike and 1.3 meters of vein width. (Click on this link to view a video that illustrates the historic underground mining data).

New Pacific Reports First Results from 2019 Drill Program at Silver Sand, Bolivia – Continuing intersecting wide silver mineralization near surface including 169 g/t silver over 144.2m

The 2019 drilling program at Silver Sand commenced in late April and is expected continue throughout rest of the year. These first eight holes were part of the infill drilling program to bring drill hole density to approximately 25 metre by 25 metre spacing and to produce a mineral resource estimate in accordance with NI 43-101 at the end of 2019. These holes were approximately oriented at azimuths of 60 degrees and dips of -45 degrees. These first eight infill holes have intercepted significant silver mineralization similar to those reported from the 2018 drilling program, and adequately confirms the continuity of mineralization within the drilled extents.

Rocket Fuel

According to silver analyst Theodore Butler, various hedge funds are currently short 440 million ounces of silver on the COMEX futures market. That’s over half the silver that’s mined in a year. These funds manage money for big investors and they rely on computerized trading programs. Human judgements and emotions don’t enter into trading decisions. Their foremost trading strategy is to buy or sell when moving averages are penetrated. If the price of silver or gold moves upward to the point it goes through the average of prices over the past 50 days, it causes some short selling programs to buy and close out their short position. A penetration of the more important 200 day moving average sparks major buying and can lift the price significantly.

Bolivian gov’t seeks a new deal with miners, says Minister Navarro

Although the state has ownership of the resource, it grants the company a lengthy concession period during which it can explore, build and operate a mine. In exchange, the company promises to undertake certain investments in stages throughout the project’s life, including rehabilitating the site when the mine closes. Once signed with Comibol, the contract is sent to Congress, where it would be approved as a law and finally promulgated by the president himself, giving the contract considerable legal weight. In January, Navarro signed the first such deal for an exploration project with Vancouver-based New Pacific Metals (TSXV: NUAG; US-OTC: NUPMF). The 45-year contract is due to receive legislative approval by mid-year.

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.