Is this a Dead Cat Bounce for the Gold Miners?
May 02 2013 8:00 AM EDT
In the last seven months or so we have seen the Gold Bugs index, HUI, fall from 520 in October 2012 to 283 today 01 May 2013, registering a loss of 45% in the value of its constituents. The last four weeks has seen the HUI drop 100 points followed by a bounce of 23 points. Many are of the opinion that the bottom is in and are hopeful of a decent rally from this point in order to restore some normality to this tiny sector and repair their investment accounts. The chart below depicts the plight of the gold miners and the severity of the recent carnage that has decimated the stock prices at a time when they need all the friends they can get.
Gold And Silver Coin And Bar Shortages Globally
April 29 2013 8:41 AM EDT
Gold fell $7.00 or 0.48% Friday to $1,467.30/oz and silver finished down 1.65%. Gold and silver both gained for the week at 4.74% and 3.11%, respectively. Gold rose another 1% overnight in Asia, consolidating on last week's 4% gain.
Despite Crime, Sri Lanka Still Wary About Death Penalty
April 26 2013 12:27 PM EDT
The death penalty is on the books in Sri Lanka, but no executions have taken place since 1976.
Better “Safe Haven” – Switzerland or Canada?
April 25 2013 1:22 PM EDT
Despite the well-engineered ‘bear raid’ conducted by some U.S. banks together with some hedge funds –which knocked the gold price back on its heels down to $1,344—the demand for gold from all over the world remains unabated. The fall in the gold price caused the physical buying of gold to surge everywhere and the gold price has begun to recover.
Australia’s Iconic Koalas Now Face Extinction Through STD
April 25 2013 1:04 PM EDT
In the 19th century, millions of koalas roamed all across Australia. There are now no more than 100,000 on the entire continent.
Silver Institute Sees Lower Silver Prices In 2013
April 24 2013 8:24 AM EDT
The damage from the recent sell-off in silver prices will not likely be repaired this year.
Silver is Following its 1970s Pattern
April 12 2013 11:23 AM EDT
The cyclical bear market in Silver is serving its purpose. Its correcting and digesting the 6-fold advance that took place in less than two and a half years. A similar correction took place in the mid 1970s that led to the parabolic move to $50. Amazingly, if you line up Silver’s performance from its 1971 low to 1980 high with Silver’s performance since its 2008 bottom, you’ll notice strong parallels.
A US$ Retreat Could Ignite The Precious Metals market
April 10 2013 8:17 AM EDT
The recent rally in the US$ was more a product of the fall in other currencies than a strengthening of the dollar. In particular we have seen the British Pound fall dramatically in the first two months of this year and this was followed by the Japanese Yen which tumbled recently on the inflationary actions introduced by the Bank of Japan. The value of a position in the precious metals sector would have increased for those living in the UK or Japan, but for investors living in the United States the strength of the dollar has eroded the value of their holdings in the gold and silver space.
Goldman Sachs Goes Negative On Gold
April 10 2013 7:54 AM EDT
Exchange-traded fund redemptions are contributing to Goldman Sachs' prediction that the gold price will slide to $1,450 by year's end.
Turkey’s Silver Imports Surge 31% and Gold Imports Climb to 8 Month High
April 03 2013 9:31 AM EDT
Today's AM fix was USD 1,568.50, EUR 1,222.81 and GBP 1,038.40 per ounce. Tuesday's AM fix was USD 1,597.75, EUR 1,244.64 and GBP 1,051.64 per ounce. Gold fell $23 or 1.45% yesterday while silver fell 76 cents or 2.7%.
Gold Climbs to $1,600 on Dollar and Manufacturing Weakness
April 01 2013 2:54 PM EDT
On Monday, gold (NYSEARCA:GLD) futures for June delivery, the most active contract, gained $5.20 to close at $1,600.90 per ounce, while silver (NYSEARCA:SLV) futures for May fell 38 cents to finish at $27.94.
An update on the Silver Stocks
April 01 2013 7:58 AM EDT
When we discuss gold stocks we often refer to gold and silver stocks. Today we take a look at the silver stocks specifically. Below is a chart of our partially weighted producers index which contains 14 of the largest silver producers. We didn’t cherry pick the 14. We went down the list and that includes a handful of companies which have really struggled in recent years. Anyway, the 56% in the current cyclical bear is well in line with history. Previous downturns have been 51% and 49% and then 85% from 2007-2008.
Russia And South Africa To Create OPEC ‘Platinum Cartel’
March 27 2013 9:38 AM EDT
Gold is slightly lower in most major currencies this morning but is higher in euros and Swiss francs. Gold appears to be consolidating near the $1,600/oz level and worries about the euro zone's fiscal health are supporting prices as is the EU’s unprecedented expropriation of bank deposits in Cyprus. There are hopes that Cyprus will complete capital control measures today to prevent a run on the banks by rightfully nervous depositors.
Next US$ Peak is Catalyst for Precious Metals & Hard Assets
March 22 2013 7:42 AM EDT
Our title seems obvious. We all know that the US$ tends to be negatively correlated with commodity prices. This is true in the short-term but not always so over the long-term. The US$ index is currently nearing 83. It’s at the same level it was in 2007 when Gold was trading in the $600s and the CCI (currently 554) was trading near 400. The US$ index is near the same level it was at the end of 2005 when Gold was trading below $400 and the CCI was trading below 300. This tells us that the bull market in precious and hard assets goes way beyond simple US$ weakness. It is driven by long-term supply and demand dynamics as well as rampant monetary inflation from global parties and not just the USA. Throughout this bull market, key advances and turning points have originated from strength against foreign currencies and then sustained strength amid textbook US$ weakness.
Silver Wheaton Corp to pay Quarterly Dividend of US$0.14
March 22 2013 7:37 AM EDT
Today Silver Wheaton Corporation (TSX: SLW) (NYSE: SLW) declared its first quarterly cash dividend payment for 2013 of US$0.14 per common share. This dividend will be paid on April 2, 2013, and will be distributed on or about April 12, 2013. This is good news for shareholders in that it is the highest quarterly dividend to date by SLW. Randy Smallwood, President and Chief Executive Officer of Silver Wheaton commented on the dividend payment as follows:
Silver Prices Capped by US Dollar
March 21 2013 7:52 AM EDT
As the chart shows silver prices have been trading in a range of approximately $35.00 to the high side and $27.50 at the lower end for over a year now. The oscillations appear to be a lot less volatile of late which is surprising given the financial turmoil in Cyprus. Usually when there is uncertainty in the financial markets gold and silver are seen as safe havens and experience some upward price pressure.
JP Morgan Cleared Of Conspiracy "To Drive Down Silver Prices"
March 19 2013 8:51 AM EDT
Silver is trading at $28.86/oz, €22.38/oz and £19.16/oz. Platinum is trading at $1,605.25/oz, palladium at $757.00/oz and rhodium at $1,250/oz. Gold climbed $13.70 or 0.86% and closed yesterday at $1,578.10/oz. Silver hit a high of $29.05 finished +0.56%. A national holiday was observed in Ireland yesterday and markets were closed.
Gold And Silver Manipulation At London AM Fix Or New York COMEX?
March 18 2013 8:51 AM EDT
Gold was marginally higher yesterday and silver marginally lower. Gold rose just 20 cents and closed at $1,588.50/oz. Silver fell 15 cents to close at $28.75/oz. Silver is trading at $28.80/oz, €22.40/oz and £19.20/oz. Platinum rose to $1,587.25/oz, palladium to $771.00/oz and rhodium stayed at $1,250/oz.
Silver And Gold Manipulation - Next Price Fixing Scandal?
March 15 2013 8:08 AM EDT
Gold continues to steady near a two-week high just below $1,600/oz. Recent positive economic data and price falls have led to very negative sentiment in the gold market which indicates we may be close to a bottom. While some data has been encouraging, nothing has changed regarding the very poor fiscal state of the U.S., UK, Japan and indeed most western countries.
Lear Capital: Growing Silver Shortage Ignites Demand for Silver Polar Bear Coin
March 13 2013 8:53 AM EDT
With silver prices off 10% in the last 30 days, it’s hard to believe there is a growing silver shortage. I liken it to crossing the desert with a canteen full of water. As long as there is at least one drink of water left in the canteen, there is no shortage. And then with the last drink, as you attempt to shake out the last drop, you realize your canteen is empty. But, even then you don’t totally believe it. As thirst sets in you desperately try one more time to pour out any remaining drops. Then, it hits you. Ahh Nuts!