• Category Archives Precious Metals
  • JUNE 21/GOLD UP $2.40 BUT SILVER DOWN 4 CENTS/OPEN INTEREST IN SILVER CLIMBS 1400 CONTRACTS TO ALMOST 200,000 CONTRACTS (1 BILLION OZ)/HUGE SHAKEUP IN RIYADH AS SALMAN’S SON MOHAMMED BECOMES CROW…

    GOLD: $1243.40 UP $2.40
    Silver: $16.36 DOWN 4 cent(s)
    Closing access prices:
    Gold $1246.50
    silver: $16.44
    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: $1255.01 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1245.90
    PREMIUM FIRST FIX: $9.11
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    SECOND SHANGHAI GOLD FIX: $1255.90
    NY GOLD PRICE AT THE EXACT SAME TIME: $1245.40
    Premium of Shanghai 2nd fix/NY:$10.50
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    LONDON FIRST GOLD FIX: 5:30 am est $1247.05
    NY PRICING AT THE EXACT SAME TIME: $1246.10
    LONDON SECOND GOLD FIX 10 AM: $1242.50
    NY PRICING AT THE EXACT SAME TIME. $1242.80
    For comex gold:
    JUNE/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 9 NOTICE(S) FOR 900 OZ.
    TOTAL NOTICES SO FAR: 2621 FOR 262,100 OZ (8.1524 TONNES)
    For silver:
    For silver:
    JUNE 40 NOTICES FILED TODAY FOR
    200,000 OZ/
    Total number of notices filed so far this month: 957 for 4,785,000 oz

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


  • Ted Butler Quote of the Day 06-21-17

    But I still sense this thing is headed for a climax. One way or another, there will come a time when JP Morgan won’t add to short positions on a coming silver rally and that rally will be like no other. I just can’t know if it will be McDonald taking the high road and ordering JP Morgan to no longer add manipulative silver shorts…or if the most crooked bank in the U.S. will do so on its own.

    A small excerpt from Ted Butler’s subscription letter on 17 June 2017.

    More precious metals news & information available at
    Ed Steer’s Gold & Silver Digest.
     


  • 10 Fold Increase in Cryptocurrencies by Year-End | BrotherJohnF

    The following video was published by SilverDoctors on Jun 19, 2017
    Money is rushing into cryptocurrencies, but are the biggest moves yet to come? John from the Silver for the People blog would not be surprised if the cryptocurrencies sector increased ten-fold by the end of 2017.
    Can cryptocurrencies be stopped? John says individual cryptocurrencies might fail, but cryptocurrencies in general will survive. Cryptocurrencies may become the world’s most popular money, John says.


  • Gold’s Pricing Power Moving East – Part 2

    China excluded from the global gold price or arbitrage includes it?
    China is unhappy that gold prices should be driven by U. S. and dollar concerns. But many state that because there is no free flow of gold in and out of China, China will remain a parochial market, not integrated into the global gold market. Nothing is now further from the truth.
    The author has worked with successful arbitrageurs in London in the past, so we can clearly see that through the London and Shanghai Gold Exchanges via bullion banks such as ICBC/Standard, HSBC and many others, arbitrage in gold is not just feasible but practiced.
    Any overweight London gold stocks can easily be sent to Shanghai from, in particular the ICBC/Standard branch in London that control two warehouses capable of holding 3,500 tonnes of physical gold. With this bank being a ‘market maker’ in London and a member of the LBMA price setting body, such a trading activity would be consistent with its normal functions.
    As to gold leaving China, it is not permitted, but the export of Yuan is. So a sale in Shanghai of gold receives Yuan which can be exported to buy gold in London. This is, in essence, giving arbitrageurs the ability to lower prices in Shanghai and raising them in London.
    Capital Controls in China do not pose a hurdle for this business. We believe that while capital exiting China is now heavily restricted, it is not withheld for the purchase and import of gold bullion.
    What this trade does do, is to smooth out price differentials between Shanghai and London. With Shanghai’s physical gold prices being more representative of physical gold demand and supply [due to volumes of gold traded] it is inevitable that Shanghai becomes the leading gold Benchmark pricer in the future.

    This post was published at GoldSeek


  • Why Peter Krauth Sees the Price of Silver Rebounding from Here

    Calling the price of silver a roller coaster would be an understatement.
    All you need is to look at a 60-day or 6-month price chart, and you’ll see exactly what I mean.
    In fact, even the past week can make seasoned silver investors nauseous. It’s been a bumpy ride, and it’s not over. On June 7, the price of silver was trading as high as $17.60. By last Tuesday, it had fallen all the way to $16.80.
    The price of silver today is down another 0.63% to $16.58.
    Although silver has lost ground to gold in the last few days, a glance at the price chart shows we may already be at support, bolstering the case for a return to upside price action from here.
    A quick comparison of gold and silver in the last five trading days shows their price behavior has been nearly identical, with silver of course amplifying the movements.
    Let’s examine silver’s volatility over the past trading week, then look to what may lie ahead for the precious metal…
    How the Price of Silver Is Trending Now
    Silver began the week on a bearish note, following through on weakness from the previous trading sessions.

    This post was published at Wall Street Examiner by Peter Krauth via Money Morning June 19, 2017.


  • Proposed Hallmarking Program Could Boost Confidence for Indians Buying Gold

    Late last month, the gold trading industry in India announced plans to set up 100 hallmarking centers, and establish a precious metal assay and training institute in an effort to ensure the purity of gold sold in the country.
    According to the Economic Times of India, ‘Indian Association of Hallmarking Centres has submitted a proposal to the Bureau of Indian Standards to issue a certificate along with each jewelry sold, capturing its photo, purity, weight and the names of the center that put the hallmark and the jeweler who sold it.’
    Gold hallmarks show the purity of a piece of gold jewelry. They generally include the mark of the assaying office that certified the purity, as well as the fineness or caratage of the gold.
    ‘Caratage’ is the measurement of purity of gold alloyed with other metals. Pure gold is certified as 24 carat. The lower the number the less gold the metal contains. For example, 18 carat gold contains 75% gold and 25% other metals.

    This post was published at Schiffgold on JUNE 19, 2017.


  • GDXJ: Myth vs. Reality

    Many of you have contacted me about the sell-off in GDXJ and upcoming re-balancing that will occur at the end of this week (I think). First of all, thank you for your inquiries and please feel free to email me with questions/ideas. The only ‘dumb’ question regarding gold, silver and mining shares is, ‘should I own any?’
    First I wanted to highlight the difference between fact and ‘propaganda.’ The propaganda has led many to believe that the rebalancing of the GDXJ has exerted undue pressure on the mining stocks as a whole and on the GDXJ components specifically. However, a simple graphic analysis differentiates fact from fiction:

    This post was published at Investment Research Dynamics on June 16, 2017.


  • You Don’t Have to Visit a Museum to Experience the Wonder of Gold

    Going back to the earliest civilizations, people have longed for gold. Humankind has always been drawn to the yellow metal’s beauty, rarity, and unique qualities. In many, gold inspires a kind of wonder.
    An art exhibition that recently opened in Macau attempts to capture the beauty and spiritual aura that makes gold so desirable.
    Anne Camilli is the curator of ‘A Golden Way of Life – Trs’Ors’ exhibition. The collection includes over 250 French gold creations and artifacts, including classic and contemporary art works, religious artifacts, vintage furniture pieces, fashion and accessories, watches and jewelry, and everyday life objects dating from the 17th century to today.

    This post was published at Schiffgold on JUNE 16, 2017.


  • JUNE 15/CROOKED BANKING CARTEL CONTINUES TO WHACK GOLD AND SILVER: GOLD DOWN $20.40 /SILVER DOWN 42 CENTS/ GIANT INSURANCE CONGLOMERATE CHAIRMAN DETAINED WITH REVENUES CRASHING 90%: THIS WILL NO …

    GOLD: $1252.20 DOWN $20.40
    Silver: $16.69 DOWN 42 cent(s)
    Closing access prices:
    Gold $1253.40
    silver: $16.75
    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: $1273.84 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1265.30
    PREMIUM FIRST FIX: $8.54
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    SECOND SHANGHAI GOLD FIX: $1269.24
    NY GOLD PRICE AT THE EXACT SAME TIME: $1261.95
    Premium of Shanghai 2nd fix/NY:$7.25
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    LONDON FIRST GOLD FIX: 5:30 am est $1260.25
    NY PRICING AT THE EXACT SAME TIME: $1260.95
    LONDON SECOND GOLD FIX 10 AM: $1254.55
    NY PRICING AT THE EXACT SAME TIME. $1253.90
    For comex gold:
    JUNE/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 2 NOTICE(S) FOR 200 OZ.
    TOTAL NOTICES SO FAR: 2208 FOR 220,800 OZ (6.8678 TONNES)
    For silver:
    For silver:
    JUNE 67 NOTICES FILED TODAY FOR
    335,000 OZ/
    Total number of notices filed so far this month: 901 for 4,505,000 oz

    This post was published at Harvey Organ Blog on June 15, 2017.


  • Are We Finally Seeing That Pullback?

    As we came into 2017, I was looking for the metals market to bottom and begin a strong rally for 2017 which would take us back to the highs of 2016 and beyond. Thus far, the market has bottomed, but we have only been consolidating for most of the year.
    For most people, this consolidation phase has been quite frustrating. So much so that many have actually been losing interest in this complex. But, there is still a certain amount of ‘hope’ evident in the market, especially as gold marginally broke out over its April high. Clearly, it was not a sustained break out, and it has left gold in a precarious short-term position.
    I have warned many of those who read my analysis that trend line analysis in this complex most often will have you turning towards a certain ‘sentiment’ right before the market reverses strongly. This past week, many got bullishly excited with gold’s ‘break out’ of a trend line, only to turn down almost immediately. And, to be honest, this has happened at just about each and every metals turn we have seen over the last several years. Remember the failed heads and shoulders break down at the end of 2016? I even warned you in advance back in September and October that the heads and shoulders would set up and then fake everyone out on the supposed ‘break down’ of the neckline, only to get most of the market bearish right as the turn was about to occur to the upside.
    Each trend line break, whether it be to the upside or downside, has only served to whipsaw those that make the use of trendlines their primary analysis. And, I have repeatedly warned how using trend lines as a primary means of analysis is the most crude form of technical analysis within which one can engage. Moreover, in the metals complex, it is almost a certainty that you will be whipsawed following trend lines, as we have seen time and again for the last several years. But, I digress.

    This post was published at GoldSeek on 14 June 2017.


  • Gold Market Morning: June-14-2017 — Gold waiting for the Fed!

    Gold Today – New York closed at $1,268.60 yesterday after closing at $1,268.90 Monday. London opened at $1,267.24 today.
    Overall the dollar was slightly weaker against global currencies, early today. Before London’s opening:
    – The $: was slightly weaker at $1.1217 after yesterday’s $1.1212: 1.
    – The Dollar index was weaker at 96.92 after yesterday’s 97.04.
    – The Yen was slightly stronger at 110.14 after yesterday’s 110.16:$1.
    – The Yuan was slightly stronger at 6.7976 after yesterday’s 6.7979: $1.
    – The Pound Sterling was stronger at $1.2785 after yesterday’s $1.2700: 1.
    Yuan Gold Fix
    As you can see from the above, Shanghai traded both yesterday and today lower than New York and London. This was the first time we have seen that happen! New York closed higher than Shanghai yesterday and London opened higher than Shanghai. On these numbers Shanghai is not a buyer from the west today.
    We have heard that China stands accused of gold price manipulation. They are accused of keeping prices low until they have acquired a particular number of tonnes. Meanwhile, Shanghai prices have consistently been at a premium to western prices. This is not the path down.

    This post was published at GoldSeek on 14 June 2017.


  • Ted Butler Quote of the Day 06-14-17

    A couple of weeks back, a subscriber asked me to explain what I meant by JPMorgan ‘skimming’ off silver from the near frantic and highly unprecedented physical turnover in COMEX silver warehouse movement. I answered him privately, but I’m not so sure I did an adequate job in explaining my premise, so please let me have another crack at it here.

    I’ve always thought that the incredibly large physical ‘churn’ in the COMEX silver warehouses created the opportunity for someone to dip into the turnover and extract metal without it being widely noticed. I mean, if there was hardly any physical turnover in publicly trackable exchange warehouses, as is the case in just about every commodity except for COMEX silver, then there wouldn’t be any real opportunity to dip into a movement that didn’t exist.

    Try to think of it this way. We’ve all seen footage of the bears lining up and positioning themselves for a salmon run in Alaska. There are so many fish running, that no matter how many the bears may catch and gorge on, it hardly reduces the run. When the salmon aren’t running, the bears must eat something else. There have been no big salmon runs in other commodities, just in COMEX silver. This consistent six year salmon run in physical silver between the COMEX warehouses has allowed just one big grizzly to gorge on physical silver nearly undetected and unchallenged by other bears. I think JPMorgan may have secured as many as 150 million oz of its 600 million oz hoard in this manner.

    A small excerpt from Ted Butler’s subscription letter on 10 June 2017.

      More precious metals news & information available at
    Ed Steer’s Gold & Silver Digest.


  • Palladium Pandemonium – Short Squeeze Sends Precious Metal Spreads Parabolic

    I know just enough about the palladium market to get myself into some serious trouble – which means, I don’t know much. But this morning, the popular trader Kid Dynamite tweeted about a surprising development in the palladium futures market.
    ***
    Usually, metals’ futures markets trade in contangos. The future price is higher than the spot price to account for the opportunity cost of holding (or financing) the long position in the underlying metal.

    This post was published at Zero Hedge on Jun 11, 2017.