• Category Archives Precious Metals
  • JULY 27/GOLD UP $ 10.45 WITH SILVER UP 13 CENTS/GOLD/SILVER EQUITY SHARES FLOUNDER AT THE END OF THE DAY SIGNALLING A POSSIBLE RAID TOMORROW//EU IS FORCING 3 COUNTRIES TO ACCEPT MIGRANTS AGAINST …

    GOLD: $1260.30 UP $10.45
    Silver: $16.59 UP 13 cent(s)
    Closing access prices:
    Gold $1259.50
    silver: $16.58
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1269.54 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1263.20
    PREMIUM FIRST FIX: $6.34
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1267.86
    NY GOLD PRICE AT THE EXACT SAME TIME: $1262.60
    Premium of Shanghai 2nd fix/NY:$5.26
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1262.05
    NY PRICING AT THE EXACT SAME TIME: $1263.00
    LONDON SECOND GOLD FIX 10 AM: $1261.10
    NY PRICING AT THE EXACT SAME TIME. $1261.20
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 4 NOTICE(S) FOR 400 OZ.
    TOTAL NOTICES SO FAR: 175 FOR 17500 OZ (.5443 TONNES)
    For silver:
    JULY
    112 NOTICES FILED TODAY FOR
    560,000 OZ/
    Total number of notices filed so far this month: 3282 for 16,410,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)
    Judging from the way the gold/silver shares traded today, it sure looks like the boys are going to orchestrate another humdinger of a raid against us tomorrow.

    This post was published at Harvey Organ Blog on July 27, 2017.


  • Gold Cycle Outlook Cautiously Bullish

    I am cautiously bullish with today’s new high in Gold and GDX on day 13. Silver also made a new high on day 12 but is still lagging Gold out of the recent low. Note that I have used GLD and SLV in my charts today as the price prints for Gold and Silver on Stockcharts were bogus once again.
    Why cautiously bullish? During the long Bear from the secondary high in 2012, almost every Failed Gold Trading Cycle topped on day 10 or earlier. There were a couple that topped on day 11 and one on day 12 as I recall but day 12 was the longest uptrend we saw into a failed Trading Cycle. That said, I am still cautious as my charts will show that PM’s still have much work to do to break out of this sideways pattern that they have been in for much of 2017.
    Silver, which has already broken below its Dec 2016 YCL does give me some concern here. The Gold/Silver Ratio, as both Plunger and I have posted on, may be indicating that Credit Markets are nervous about something…

    This post was published at GoldSeek on Thursday, 27 July 2017.


  • RECONCILING THE US DOLLAR OUTLOOK with the SUPER BULLISH GOLD AND SILVER COTs…

    Because the dollar has such an important bearing on everything, especially the Precious Metals, it is timely for us to take a close look at it here after its recent steep drop, for as some of you may have seen, a number of indicators pertaining to the dollar suggest that, possibly after some further downside it is likely to bounce, or at least take a rest in a sideways range for a while, before the decline perhaps resumes in earnest. We’ll start by looking at a couple of these indicators. The latest US dollar Hedgers chart, which is a form of COT chart, is certainly starting to look bullish, and until these positions ease somewhat, further significant downside for the dollar in the short-term looks unlikely.
    ***
    Meanwhile the latest Dollar Optix, or optimism chart, also shows that pessimism is getting overdone. This doesn’t necessarily mean that the dollar’s downtrend is done, however, as minor rallies can cause this to ease before it then plumbs new lows. These two indicators taken together suggest that a relief rally is likely in the dollar soon, perhaps after it drops a bit lower first, although they don’t mean that the rally will get very far.

    This post was published at Clive Maund on Tuesday, July 25, 2017.


  • Gold Market Morning: July-25-2017: Gold consolidating above $1,250

    Gold Today – New York closed yesterday at $1,257.20. London opened at $1,253.00 today.
    Overall the dollar was weaker against global currencies, early today. Before London’s opening:
    – The $: was slightly weaker at $1.1654 after yesterday’s $1.1650: 1.
    – The Dollar index was slightly stronger at 93.97 after yesterday’s 93.94.
    – The Yen was weaker at 111.25 after yesterday’s 110.76:$1.
    – The Yuan was almost unchanged at 6.7506 after yesterday’s 6.7503: $1.
    – The Pound Sterling was slightly weaker at $1.3031 after yesterday’s $1.3041: 1.
    Yuan Gold Fix
    New York closed $0.50 higher than Shanghai on yesterday with London opening $7 lower than Shanghai. This keeps open arbitrage opportunities with Shanghai. Once again Shanghai is pointing the way higher for New York and London.
    Sales from the SPDR gold ETF become available for shipping to Shanghai implying that should U. S. investors want to return to physical gold they will have to pay up for it.
    Silver Today – Silver closed at $16.40 yesterday after $16.48 at New York’s close Friday.

    This post was published at GoldSeek on 25 July 2017.


  • Case-Shiller Home Prices Disappoint But Hit New Record High

    Great news ‘Murica – your house has never been worth more than it was in May (according to Case-Shiller’s national home price index).
    On the slightly less silver-lining side of the equation, April’s 0.28% gain in price was revised to 0.18% MoM drop and May’s proint disappointed at just 0.1% rise MoM.

    This post was published at Zero Hedge on Jul 25, 2017.


  • The Breakdown Before the Breakthrough

    Since our last note, the US dollar index has made its way down to the lows of last summer, currently hovering just above the Brexit upside pivot from June 24th, 2016.
    Although asset trends can elicit major technical breaks from oversold conditions (i.e. crash), the more probable outcome from our perspective favors another retracement bounce, before traders can set their sights on breaking through long-term underlying support that’s confined all declines in the dollar index over the past 3 years.
    Maintaining a KISS approach of lower highs and lows that has served traders well this year in the US dollar index, we would look for the highs from early July to contain a prospective bounce. This methodology also applies to the flipside of momentum for potential lows in the euro, yen and gold – with the two latter assets also likely influenced by the short-term respective trends in equities and yields. In this respect, over the near-term the Japanese yen and gold could hold up better than the euro, as we suspect the rally in equities gives back this months gains – largely supporting the uptrend in long-term Treasuries and buttressing safe haven assets like the yen and gold.

    This post was published at GoldSeek on Tuesday, 25 July 2017.


  • Is the Silver Price Going Higher in 2017 After Last Week’s 3.7% Rally?

    The silver price has bounced back strongly from its low over two weeks ago. The price of silver is coming off a strong 3.7% gain last week and is now up 7.4% to $16.51 from its July 7 low of $15.37. Not to mention, silver futures have suffered only one down day in the last 10 trading days.
    The 7.4% rebound since July 7 has come in small increments, but it’s been steady and stealthy. The average daily gain for silver prices since the July 7 low has been 0.6%, and that stealth growth may be most helpful for looking at where silver is headed in 2017. As silver climbs quietly higher, it continues to ‘feel’ like sentiment is still against it.
    Yet those are often the times when a price advance is the easiest to achieve, because it goes mostly unnoticed, bringing along fewer bulls for the ride higher.
    I’m one of those bulls, which is why I’m going to share my bold silver price prediction with you today.
    But first, let’s look at the price of silver’s big week last week…
    Silver Price Rises 3.7% on the Week (July 14 – July 21)
    After closing at $15.88 on Friday, July 14, the silver price opened Monday, July 17, higher at $16.11. Although it trended lower throughout the day, the metal still closed at $16.08 for a 1.3% gain on the day.

    This post was published at Wall Street Examiner on July 24, 2017.


  • Stocks and Precious Metals Charts For the Week Ending 21 July – No Fear

    “He who sows good seed is the Son of Man,
    the field is the world, the good seed the children of the kingdom.
    The weeds are the children of the evil one,
    and the enemy who sows them is the devil.
    The harvest is the end of the age, and the harvesters are angels.
    Just as weeds are collected and burned up with fire,
    so will it be at the end of the age.
    The Son of Man will send his angels,
    and they will collect out of his kingdom
    all who cause others to sin and all evildoers.
    They will throw them into the furnace,
    where there will be crying and grinding of teeth.
    Then the righteous will shine like the sun
    in the kingdom of their Father.
    Whoever has ears let them hear.”
    Matthew 13:30-43
    “No place so sacred from such fops is barred,
    Nor is Paul’s church more safe than Paul’s churchyard:
    Nay, fly to altars; there they’ll talk you dead:
    For fools rush in where angels fear to tread.”
    Alexander Pope, Essay on Criticism

    This post was published at Jesses Crossroads Cafe on 23 JULY 2017.


  • Gold Market Morning: July-24-2017: Gold and silver markets consolidating and rising above $1,250!

    Gold Today – New York closed Friday at $1,254.30. London opened at $1,254.00 today.
    Overall the dollar was weaker against global currencies, early today. Before London’s opening:
    – The $: was slightly stronger at $1.1650 after Friday’s $1.1657: 1.
    – The Dollar index was weaker at 93.93 after Friday’s 94.09.
    – The Yen was stronger at 110.76 after Friday’s 111.69:$1.
    – The Yuan was stronger at 6.7503 after Friday’s 6.7697: $1.
    – The Pound Sterling was stronger at $1.3041 after Friday’s $1.3001: 1.
    Yuan Gold Fix
    New York closed nearly $8.00 higher than Shanghai on Friday with London opening only $3 less than Shanghai. If this persists this week with the differentials narrowing as they are, then we will have confirmation that arbitrageurs are proving successful in smoothing out the differences between the global gold markets.
    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.

    This post was published at GoldSeek on 24 July 2017.


  • U.S. SMASHES RECORD: Highest Production Of Lowest Quality Fuel In The World

    Yes, it’s true… the United States smashed another fuel production record this year. According to the U. S. Energy Information Agency (EIA), the country produced over one million barrels per day of this liquid gold in the first six months of 2017. Unfortunately, this isn’t something to brag about. It would be wise just to keep this lil record to ourselves, rather than broadcast it loudly across the energy news wires and Mainstream media.
    Why do I say that? Because the U. S. produced a record 1.02 million barrels per day of corn-based ethanol, the lowest quality fuel in the world. Corn ethanol’s EROI – Energy Returned On Invested is so low, it barely provides one net barrel of fuel to the market for one barrel worth of energy that it took to produce it. I get into that in a moment, but let’s look at U. S. ethanol production since 2010:
    ***
    U. S. ethanol fuel production was 870,000 barrels per day (bd) in 2010, fell to 852,000 bd in 2013 and then continued to increase to a new record of 1.02 million bd in the first six months of 2017. We must remember, corn ethanol is blended into gasoline which is called ‘E10.’ All E10 means is that gasoline you buy at the pump can be blended up to 10% with ethanol.

    This post was published at SRSrocco Report on JULY 22, 2017.


  • Market Report: Classic bear squeeze conditions

    Gold and silver recovered well this week, continuing a rally which is now two weeks old. Gold, priced in dollars, rose by another $13 to $1247.50 in early European trade this morning (Friday), up $31 from the lows of 7 July. Silver has now recovered $1.75 from the lows of the flash-crash two weeks ago, to $16.40 this morning.
    Comex futures volume has been normal, but there’s something unusual happening, best exemplified by silver. We know that the bullion banks have shaken out the speculators (mostly hedge fund longs), and the flash-crash referred to above will have taken out the speculators’ stops, enabling the banks to close their short positions profitably. This (as of Tuesday, 11 July) left the managed money category (i.e. hedge funds) net short of 6,361 contracts, representing 31.8 million ounces. The extremeness of this position is shown in our next chart, only exceeded once, in mid-2015.

    This post was published at GoldMoney on July 21, 2017.


  • July 21/GOLD BREAKS ABOVE THE 1240-1250 RESISTANCE TO CLOSE AT $1254.75/SILVER UP 11 CENTS AT $16.49/THE BIG 3 GERMAN AUTOMAKERS CAUGHT IN ANTI TRUST ACTIONS;BIG FINES WILL BE COMING SHORTLY/TRUM…

    GOLD: $1254.75 UP $8.75
    Silver: $16.49 UP 11 cent(s)
    Closing access prices:
    Gold $1255.10
    silver: $16.54
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1253.46 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1245.60
    PREMIUM FIRST FIX: $7.86

    This post was published at Harvey Organ Blog on July 21, 2017.


  • How To Hedge Volatility With Gold… And Make Up To 92%

    While some it as a yellow pebble, it seems Goldman Sachs recognizes other ‘value’ in gold suggesting that amid the chaotic complacency of markets, precious metal derivatives could provide an attractive broad multi-asset hedge.
    Via Goldman Sachs,
    Gold implied volatility is at the 0th percentile and implied volatility is close to 1-month realised. As a broad portfolio hedge for both equity drawdown and rate shock risk, straddles on Gold appear attractive.

    This post was published at Zero Hedge on Jul 20, 2017.


  • BANK ASSETS ARE EPHEMERAL – HERE TODAY GONE TOMORROW

    It is not only paper gold which is Fake. Few investors realise that most of their investments are Fake.
    Fake news and Fake assets are everywhere. Let’s start with social media which dominates major parts of the world. Facebook for example has 2 billion active users. WhatsApp has 1.2 billion users and Instagram 700 million. There will obviously be quite a lot of overlap between the various social media. But what it is clear that these three Apps reach billions of people and their power is much bigger than that of any other media; Social Media has more impact than newspapers or than television and is the only media that 2-3 billion people follow regularly. Most people and in particular young people don’t watch television and don’t read the papers. They get all their ‘news’ from social media.
    SOCIAL MEDIA SOURCE OF FAKE NEWS
    Social media is instant gratification. You post something or you send a message and you get a message back or a number of likes which generates dopamine and makes you momentarily happy. But as I have experienced from our many grandchildren, social media is a perfect source of Fake news. Many young people using social media will be receivers of Fake News or bullying. Social media is perfect for spreading false rumours which are very often difficult to get rid of. Trump’s Twitter account is another example of alleged Fake News. Trump accuses the papers and television of Fake News and they accuse him of the same.
    This is the world we live in today – a world with Fake markets, Fake assets, Fake values, Fake money, Fake people and Fake news.

    This post was published at GoldSwitzerland on July 20, 2017.