Silver Wheaton, Pan American Hammered by Low Silver and <b>Gold</b> <b>...</b> |
- Silver Wheaton, Pan American Hammered by Low Silver and <b>Gold</b> <b>...</b>
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Climbed $4.00 to $1,312.80
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Lost 40 Cents Closing at <b>...</b>
- <b>Gold Price</b> Marks Crash Anniversary by Rising to April '13 Low as <b>...</b>
- Interest Rates "Key" to 2014 <b>Gold Price</b> | Gold News - BullionVault
- <b>Gold Price</b> "Bullish", Unmoved by Strongest US Jobs Data Since <b>...</b>
| Silver Wheaton, Pan American Hammered by Low Silver and <b>Gold</b> <b>...</b> Posted: 14 Aug 2014 04:24 AM PDT Silver futures traded at around $19.85 on Wednesday afternoon, down from their 52-week high of $25.11 and not much above the 52-week low of $18.65. Low prices coupled with still-high costs typically mean lower operating profits — and that is what we saw from two silver companies. Silver streamer Silver Wheaton Corp. (NYSE: SLW) posted earnings per share (EPS) after markets closed on Wednesday of $0.18 on revenues of $148.57 million. The company was expected to post EPS of $0.24 on revenues of $185.96 million. In the same quarter a year ago, the company posted EPS of $0.20 on revenues of $166.89 million. Silver Wheaton reported cash costs of $4.72 per silver equivalent ounce, down from $4.77 in the second quarter a year ago. The silver equivalent realized price fell from $23.05 per ounce a year ago to $19.83 this year. Gold sales accounted for about 30% of Silver Wheaton's sales, and the company's realized gold price of $1,295 per ounce was included in a 14% drop in the silver equivalent price. Shares closed at $27.18 on Wednesday and were trading down 1.8% at $26.69 in Thursday's pre-market session. The stock's 52-week range is $19.23 to $29.17 Pan American Silver Corp. (NASDAQ: PAAS) said it posted adjusted EPS of $0.01 per share on revenues of $200.8 million. In the second quarter a year ago, the company posted a loss of $0.07 per share on sales of $175.58 million. The consensus estimates called for EPS of $0.03 on revenues of $195.91 million. Including a $10 million charge to inventory values and "abnormally high" income tax expense, Pan American posted a net loss of $0.04 per share. The company's consolidated cash costs per ounce of silver came to $12.06 and the company's average realized price for silver during the second quarter was $19.58 per ounce, down from $22.68 in the year ago quarter. Gold, which accounts for about 25% of Pan American's sales, also suffered from tumbling prices. A year ago, gold fetched $1,423 per ounce compared with $1,289 in the second quarter this year. Pan American's shares closed at $15.11 Wednesday night and are trading down about 0.7% Thursday morning at $15.00. The stock's 52-week range is $9.78 to $15.97.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Climbed $4.00 to $1,312.80 Posted: 13 Aug 2014 03:57 PM PDT
The GOLD PRICE climbed $4.00 (0.3%) to $1,312.80 but silver fell 6 cents to 1981c. Silver's relative weakness is beginning to bite. Overnight the gold price traded flat until midnight, then started to climb. It fended off a seller's raid about 10:00 a.m., then rose to $1,316.40 before it closed at $1,312.80. This places gold above that downtrend line from October 2012, but after a series of descending highs. Today was the second time in five days at that line that the gold price closed above the line. The GOLD PRICE needs to master lateral resistance about $1,325, it seems, before it will advance. Silver is acting as a drag. The SILVER PRICE tried twice to pierce 2008c, but failed and fell back, lower than yesterday, to 1970c. So far that 1975-ish support is holding, but the longer silver loiters here, the greater the chance it will fall through. First assignment for silver is to throw a leg over the 200 DMA at 2021c and commence running. While gold's indicators all point up, silver's point down. Gold's course today makes it appear ready to climb higher, while silver's is weak and lazy. These contradictions don't last long. Markets are sawing back and forth without any progress It's August. Europeans are off vacationing and nobody else much is watching. The halfway point (50% correction) of the Dow's dive from the July high to the August low is 16,743. That would be a convenient place to turn down again. Today the Dow rose 91.26 (0.55%) to 16,651.80. The S&P500 outdid the Dow, rising 12.97 (0.67%) to 1,946.72. 'Twill be interesting to observe how they behave at their 20 day moving averages (19,768 and 1,953). One more downleg is being prepared even now. Dow in gold jigged up 0.24% today, but remains below its 200 DMA. Ended the day at 12.67 oz (G$261.91 gold dollars), still acting like a market looking for a trap door to fall through. Dow in silver reflects silver's relative weakness right now. It rose 0.93% to 839.09 oz (S$1,084.88 silver dollars), above its 50 DMA at 825.98 oz (S$1,067.93) US dollar index closed today at the top of its recent range, 81.68, up eleven basis points. It has remained in this range, oscillating around 81.50 resistance, for two weeks. It needs to close above 81.80 to break out of this range, or fall through 81.30 below. Odds favor higher prices. Yen fell 0.17%to 97.63, a bad slide. Lower prices in the near future. Euro was flat today, down 0.02% at $1.3364. But that close doesn't reveal its attempt to climb up to the 20 DMA, and failure. Not great. - Franklin Sanders, The Moneychanger © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Lost 40 Cents Closing at <b>...</b> Posted: 11 Aug 2014 07:25 PM PDT
The GOLD PRICE butted its head against that downtrend line form October 2012, but couldn't batter its way through. Think that's weak? Well, remember that uptrend from December 2013 has not been broken, and despite two attempts $1,281 held. And gold stands above its 200, 50, and 20 dmas, all aligned in that upward looking order. Gold needs to jump over $1,320 to break out of these August doldrums. The SILVER PRICE keeps on sliding along the downtrend line from the August 2013 high. So far the 1975c low has held, but silver is below its moving averages and is presently the sick sister of the precious metals. Indicators have not yet turned up. Be calm, be patient. Higher prices are coming in August. Today was a pretty slow day, as one of the top headlines read, "Fort Smith (Arkansas) Receives Nearly $5 Million Grant." Clearly, the yankee government is still at work subsidizing the airlines and airport construction companies, so y'all can wipe that worried look off your faces. The business-government partnership ("fascism") is alive and well in America. Stocks likely made a short term (1-2 week) bottom last week but have another leg down coming. Dow today rose 16.05 (0.1%) to 16,569.98. S&P500 climbed 5.33 (0.28%) to 1,936.92. Dow could rally to 16,740, but the decline is not yet complete. Dow in gold added 0.1% to 12.64 oz (G$261.29 gold dollars). DiG has clearly defined and confirmed that its upward correction has ended by closing below its last low and its 200 DMA. Friday it nearly fell through the critical uptrend from August 2011, today at 12.42 oz (G$256.75). Dow in silver is lagging its big brother, winding up in a triangle that ought to break downward. Today it moved 0.8% lower to 824.58 oz (S$1,066.12 silver dollars). Short term uptrend line today stands at 820 oz (S$1,060.20). Be patient. The Dow in Gold and Dow in Silver are rolling over. Time to begin swapping stocks for silver and gold. US dollar index crept up 6 basis points to 81.51. Currencies are doing nothing, as the US dollar Index is stuck oscillating around that 80.50 line that ought to have marked a breakout, but didn't. Stuck: can't move up, can't move down, but more dollar rally lies ahead. Euro flaked another 0.17% to $1.3383, still gravely ill. Yen gave up pretensions to health today, closing down 0.15% at 97.86 and below its 200 DMA. May be preparing another BIG fall. My friend Daniel Freemon has made an amazing recovery. They took him off the Ventilator on Saturday and Sunday moved him to an ICU Step Down room. He is talking and his mind has returned. I thank y'all most heartily for your prayers. On 11 August 1860 America's first successful silver mill began operating in Virginia City, Nevada. SPECIAL OFFER I bought some coins at the right price and crazy as I am, I am passing the saving on to you. 'Tis your lucky day! British sovereigns (minted 1818-today) are one of the world's most common gold coins, thanks to the British empire. They are 22 karat (91-2/3% pure) and contain 0.2354 troy ounce of fine (pure) gold. Dates of our choice, some coins may show wear since they actually circulated. The U.S. in the 1980s and 1990s issued a passel of different $5 gold (0.2419 troy ounces) and $10 gold (0.4838 tr. Oz.) commemorative coins. All are uncirculated coins, dates of our choice. Minted at 90% fine (21.6 karat). In 1979 Canada introduced the Maple Leaf gold coin as the first 24 karat "pure gold" bullion coin. At first they were issued at 99.9% fine, but then late in 1982 they began issuing them in 99.99% fineness. These coins are the later issue at 99.99% and of course uncirculated. All prices are based on spot gold at $1,308.5 and spot silver at $20.06. OFFER NO. 1 Nineteen lots of EIGHT (8) each British sovereign gold coins. at $324.50 each for a total of $2,596.00 plus $35 shipping for a grand total of $2,631.00. That's a premium of 5.35% over melt value. One lot totals 1.8832 troy oz. fine gold NOTE: I will charge shipping only once per order no matter how many lots you buy. OFFER NO. 2 Fourteen lots of FOUR (4) each US commemorative gold $5 coins at $335.00 each and TWO (2) ea. US $10 commems at $670 ea. for a grand total of $2,680.00, plus $35 shipping for a grand total of $2,715.00. Price is a 5.85% premium over melt value. One lot contains 1.935 troy ounces fine gold. OFFER NO. 3 TWO Lots of Nine (9) each Canadian Maple Leaf gold coins at $1,374 each for a total of $12,366 plus $35 shipping for a grand total of $12401.00. Price carries a 5.01% premium over melt value. Each lot contains 10 oz. fine gold. NOTE: I will charge shipping only once per order no matter how many lots you buy. Special Conditions: First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail. Send email to offers@the-moneychanger.com Sorry, we will not take orders for less than the minimum shown above. All sales on a strict "no-nag" basis. We will ship as soon as your check clears, but we allow Two weeks (14 days) for your check to clear. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed. It increases your chances of getting your order filled if you offer me a second choice, e.g., "I want to order Three lots of Offer #3 but if not available will take One lot of Offer #2." ORDERING INSTRUCTIONS: 1. You may order by e-mail only to offers@the-moneychanger.com. No phone orders, please. Please do NOT order by replying to THIS email, because it will not reach me timely. Please include your name, shipping address, and phone number in your email. Surprising as it is, we cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee. Repeat, you must include your complete name, address, and phone number. We will read your mind, but will have to charge you three times the price. Cheaper if you just supply your information so I don't have to read your mind. 2. When you buy from us, we cannot later change or cancel the trade. We are giving you our word that we will sell at that price, and you are giving us your word that you will buy at that price, regardless what later happens in the market, up or down. If you break your word to us, we will never again do business with you. 3. Orders are on a first-come, first-served basis until supply is exhausted. 4. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail. 5. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled. 6. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours. 7. "No Nag Basis" means that we allow fourteen (14) days for personal checks to clear before we ship. 8. Mention goldprice.org in your email. Want your order faster? Send a bank wire, but that's not required. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check. - Franklin Sanders, The Moneychanger © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold Price</b> Marks Crash Anniversary by Rising to April '13 Low as <b>...</b> Posted: 11 Apr 2014 06:41 AM PDT GOLD PRICES slipped again from near 3-week highs above $1324 per ounce in London trade Friday lunchtime, as world stock markets fell after yesterday's slump in US tech stocks. Dropping $6 per ounce after spiking from $1314 as the US Dollar rose on the currency market, gold prices were heading for their 12th weekly gain in 15 so far in 2014. Twelve months ago tomorrow, the gold began a 15% crash which took it through what analysts called strong support at $1535, bottoming on Monday 15 April at $1322. "The gold price is continuing to find support from the unexpectedly dovish Fed minutes from mid-week," says Germany's Commerzbank, citing earlier Dollar weakness. Sterling and Euro gold prices rose Friday, but held flat from last week's finish vs. the Dollar price's 1.2% gain. "Precious metals prices have proven resilient," says London market-maker Deutsche Bank, again pointing to Dollar weakness and Wednesday's release of US Federal Reserve meeting notes. The Fed "indicated unease with overly hawkish interpretations" of last month's statements on raising rates in 2015, says Deutsche, warning that a Dollar rally is likely this quarter. "Without the dovish [Fed] minutes," says Swiss bullion bank UBS, "we expect that gold would have traded lower. But gold has been wrong-footing many this week." The Chinese Yuan meantime fell to a 1-week low today, while the Shanghai stock market bucked the global trend to end 3.7% higher from last Friday. Tracking US biotech stocks drop, however, "the average fall for Asian internet stocks in the past month has now topped 20%," reports the Financial Times. Despite the falling Yuan, the Shanghai gold price – typically at a premium to world benchmarks – reduced its discount to $2.50 per ounce below London quotes by the close of Chinese trade. The Shanghai Gold Exchange said Friday it will launch "a rudimentary version" of the gold lending contracts used in London, heart of the world's physical gold market. Gold borrowing costs rose again in London again Friday, as lower GOFO rates reduced the incentive offered to would-be borrowers, who must pay storage and lose cash interest for the period of a gold loan. Two-month GOFO today went negative for the first time since late February, meaning that lenders are asking for payment on top of the interest they earn during a gold-cash swap. One-month GOFO has now been negative, albeit at 0.05% annualized at the most, for 38 of 72 gold trading days in London so far in 2014. That suggests what analysts have called some "tightness" in London's wholesale market, contrasted with the plentiful supply in Shanghai suggested by its discount to world prices. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Rates "Key" to 2014 <b>Gold Price</b> | Gold News - BullionVault Posted: 26 Feb 2014 07:27 AM PST Gold price rally "driven" by falling US bond yields. But $500 tag seen if rates hit 5%... U.S. INTEREST RATES are "key" to the direction of the gold price in 2014, according to analysts and fund managers. Historically, the gold price has "traditionally had a negative correlation with long-term US real interest rates," says Walter de Wet, head of commodities research in London for Standard Bank, moving higher when interest rates fall after accounting for inflation, and vice versa. "A lower bond yield would imply a higher gold price," says de Wet. But further ahead, his colleagues at Standard Bank "continue to expect US bond yields to move higher towards year-end," with the 10-year Treasury bond falling in price until its yield rises a whole percentage from today, up to 3.75%. Probably the most heavily traded government bond by maturity worldwide, 10-year US Treasuries have risen in price since the start of January. That has cut the annual yield – the rate of interest – which these fixed-income assets offer new buyers, pushing it down from 3.00% to 2.75% and below. This drop in the 10-year US Treasury yield "has also translated into a lower real interest rate," says de Wet at Standard Bank, comparing the yield against the latest reported US rate of inflation. Real interest rates are also "proxied" by the yield paid by 10-year inflation-linked US bonds, Standard Bank's analysis adds, noting that it "has dropped from just below 0.8% in December to the current 0.56%." "Since the launch of the SPDR gold ETF in 2004," said a presentation last month from Claude Erb, a former commodities portfolio manager, pointing to a major vehicle for investment funds to gain gold-price exposure, "it seems that interest rates have driven the price of gold." Identifying what he calls a "fear trade" linking bond and gold prices, on Erb's math the gold price "could fall to about $800 if interest rates rise to 4%...[and] $500 if interest rates rise to 5%." Trevor Greetham, director of asset allocation and manager of Fidelity UK's multi-asset range, also believes interest rates are key to gold prices. "If you wind the clock forward," he tells Investment Week, and also without referencing inflation, "interest rates could be at 5% in a few years time. "In that environment, people will question why they are holding gold, which does not yield anything." | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold Price</b> "Bullish", Unmoved by Strongest US Jobs Data Since <b>...</b> Posted: 02 Jul 2014 06:00 AM PDT GOLD PRICE gains of $5 per ounce were erased Wednesday lunchtime in London, as new US data showed a surprise jump in June employment and the Dollar rose on the currency market. Silver followed the gold price, spiking lower only to recover the tight range of the morning session around $21.05 per ounce. The private-sector ADP Payrolls report said the US added 281,000 jobs last month, the strongest rise since late 2012 and well ahead of Wall Street economists' consensus of 200,000. Peaking at $1329 just before the ADP jobs Report, the gold price eased back to $1324 – a two-day low some 0.6% higher for the week so far. The Euro currency fell harder, buoying the gold price for Eurozone investors above €970 per ounce, a 3-month high when first reached in late June. Sterling also dropped back vs. the Dollar after the ADP jobs data – widely seen signalling the US government's official Non-Farm Payrolls report due Thursday – but held near new 6-year highs after strong UK house price and manufacturing figures. The gold price for UK investors held above £772 per ounce, a level first reached in May 2010. "It's the first year in several," says Bloomberg, quoting Moody's Analytics director Marisa Di Natale, "where we haven't had some kind of manufactured fiscal showdown in Washington, which weighs on business confidence and consumer confidence." "If you have a desire," the newswire quotes one small-company boss, "and can write your name and will go out and work hard, you can get a job here today." Ukraine's armed forces and National Guard meantime continued what Kiev's parliamentary speaker called their "offensive on terrorists and criminals" in the country's pro-Russian separatist east. Crude oil prices slipped however, reaching 3-week lows on the Brent contract as a key Libyan port was re-opened. ISIS extremists in Iraq today ordered other Sunni groups to swear allegiance, meaning "our revolution has been hijacked" according to one militia leader. "The recent strength in the gold price," one Asian dealing desk said Wednesday morning, "continues to put downward pressure on premiums in India and China." Shanghai gold prices again ended the day at a $1.40 discount to London quotes. "Trending and momentum indicators are bullish," says the technical analysis team at Swiss investment and bullion bank UBS, looking at gold price charts. Silver prices, in contrast, have "failed to push higher with gold," says Australia's ANZ Bank in its daily commodities note, "struggling to overcome $21.20 despite numerous tests." |
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