Silver prices | Precious Metals Drop on Week, US Mint Silver Coins Strengthen ...

Silver prices | Precious Metals Drop on Week, US Mint <b>Silver</b> Coins Strengthen <b>...</b>

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Precious Metals Drop on Week, US Mint <b>Silver</b> Coins Strengthen <b>...</b> Posted: 10 May 2014 10:39 AM PDT Precious metals decline this week. US Mint bullion coins were strong, with sales of silver coins surging. Gold edged only slightly lower Friday but that extended its losing streak to four straight sessions and secured the yellow metal's second weekly decline. Other precious metals joined in on the losses — for the day and week. On Friday, gold for June delivery slipped a dime to settle at $1,287.60 an ounce on the Comex division of the New York Mercantile Exchange. "People are not very enthusiastic to enter the market at the moment," Reuters quoted Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. "Right now, the Ukraine situation is supportive of prices but data coming from the U.S. continues to be strong and that could keep investors away and weigh on prices." Gold prices fell $15.30, or 1.2%, from the week-ago close. Gold Outlook and YTD Gains The latest Kitco News survey is more bearish than bullish in expectations for a second consecutive week. Eleven participants forecast weaker prices next week while 6 see them higher and 7 see them sideways to unchanged. "Those who see weaker prices said the macroeconomic environment for gold offers little upside potential for the yellow metal… Others point to a weak technical chart picture for gold," reports Kitco News. "Those who see price rising next week say that the simmering geopolitical tensions between Russia and Ukraine cannot be counted out." Gold prices this year have climbed $85.40, or 7.1%, since ending last year at $1,202.30 an ounce. Silver, Platinum and Palladium Futures Silver for July delivery shed 2 cents, or less than 0.1%, to settle at $19.12 an ounce. Silver prices tumbled 2.2% from a week ago, pulling prices down on the year by 1.3% In rounding out the precious metals complex: July platinum fell $8.20, or 0.6%, to $1,429.90 an ounce, dropping 0.8% on the week. Palladium for June delivery lost $4.30, or 0.5%, to $799.75 an ounce, falling 1.6% on the week. For the year so far, platinum has advanced 4.1% and palladium has surged 11.3%. London Fix Precious Metals London precious metals fixing were mixed. When comparing the London fix bullion prices from Thursday PM to Friday PM: Gold added $4.25, or 0.3%, to $1,291.25 an ounce, Silver was unchanged at $19.25 an ounce, Platinum lost $6, or 0.4%, to $1,429 an ounce, and Palladium shed $1, or 0.1%, to $804 an ounce Weekly results were also varied as palladium declined 1.5% while the other metals logging gains of 0.8% for gold, 0.4% for silver and 0.3% for platinum. US Mint Bullion Sales Demand for U.S. Mint bullion products was stronger this week for silver coins and platinum coins but a smidgen weaker for gold coins. In week-over-week comparisons: Gold coin sales advanced 11,500 ounces after rising 12,500 ounces last week. Splits were 10,500 ounces in American Gold Eagles compared to 7,500 ounces previously and 1,000 ounces in American Gold Buffalos after 5,000 ounces previously. American Silver Eagles rose 1,151,500 versus last week's 1,086,500. The coins topped the year-to-date mark of 19 million on Tuesday and are now near 19.8 million — a record pace. Last year when the annual Silver Eagle sales record was hit, the coins had reached 19.2 million by May 9, 2013. America the Beautiful Five Ounce Silver Bullion Coins jumped 18,700, or 93,500 ounces, this week after no gains in the previous week because none were available. The U.S. Mint on April 21 said it temporarily sold out of the five-ounce Great Smoky Mountains coins. Sales resumed on Monday. Additionally, the Mint also started selling five-ounce Shenandoah coins. In the ninth full week of release after a five-year hiatus, American Platinum Eagles added 600 after gaining 200 previously. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Friday, last week, this week, last month, the month so far, and the year-to-date. American Eagle and Buffalo Bullion Sales (# of coins) Friday Sales Sales Last Week Week To Date April Sales May Sales YTD Sales $100 American Platinum Eagle Bullion Coins 0 200 600 1,200 600 11,800 $50 American Eagle Gold Bullion Coins 0 3,500 9,500 26,000 9,500 136,000 $25 American Eagle Gold Bullion Coins 0 4,000 0 5,000 0 22,000 $10 American Eagle Gold Bullion Coins 0 0 0 20,000 0 62,000 $5 American Eagle Gold Bullion Coins 0 20,000 10,000 55,000 15,000 305,000 $50 American Buffalo Gold Bullion Coins 0 5,000 1,000 17,500 2,500 85,500 $1 American Eagle Silver Bullion Coins 25,000 1,086,500 1,151,500 4,590,500 1,322,500 19,792,000 Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 N/A 3,500 10,600 3,500 26,500 Shenandoah National Park 5 Oz Silver Bullion Coins 0 15,200 N/A 15,200 15,200

Spike for <b>Silver Prices</b> Ahead? This Options <b>...</b> - Money Morning Posted: 08 May 2014 10:55 AM PDT After rising as much as 16% earlier this year, silver prices are now nearly unchanged year to date. They're up just 0.2%, while gold has gained 7.2%. The silver price isn't the only number that's lagging... Silver's option activity sits near a decade low. That's highly unusual - and won't last. In fact, the low activity suggests things are about to change for the white metal. Silver Prices Soar After Low Options Activity According to Mike McGlone, head of U.S. research for ETF Securities, 30-day silver options volatility is roughly around 12% as of Tuesday's close. While it has ticked up a hair from the 10-year low logged last week, it remains well below the historic average of around 30%. "Volatility is always mean-reverting, so when volatility is that low, it's ready for a big move," McGlone told Kitco. "I think the path of least resistance is up." That last time silver volatility dipped into the mid-teens was early 2013, right before silver prices spiked in April. The silver price hit just under $28 an ounce. The time before that was in 2010 when silver dipped to $17.94 in August, just ahead of silver's 2011 breakout to a record high of $48.70 on April 28. Knowing when the big move up is likely to happen is key - and we have a few more signs that it's happening soon. How to Follow the Clues to Higher Silver Prices Telling signs that the silver price is poised to bounce include an unusually high gold/silver ratio, robust retail demand, and strong fabrication use. And, all those signs are aligning for an upward move in the silver price. Take a look: The gold/silver ratio, a measure of how many ounces it takes to buy an ounce of gold, has rested in the low 50:1 range for the last several years. Last week, the ratio rose to 67.3:1, the highest read since August 2010, when it stood at 67.5.1. Presently, it's at 66.8:1, McGlone said to Kitco. That kind of out-of-whack ratio often signals an upcoming strong performance for silver. Consumer demand for silver coins continues to be healthy. March sales of American Eagle silver coins totaled 5,354,000, up 30% from February's tally of 3,750,000, and up a whopping 59.5% year over year. First-quarter 2014 Silver Eagle sales amounted to 13,879.000. The only other better start to a year was in 2013 when Q1 sales reached 14,223,000. Moreover, holdings in silver exchange-traded funds (ETFs) like the iShares Silver Trust (NYSE: SLV) remain solid, as gold ETFs continue to experience outflows. Demand for silver fabrication (industrial use) rose 6.3% to 865.8 million ounces in 2013, according to The Silver Institute. That was the highest level since 2007, when demand level was at 865.9 million ounces. According to a recent Thomson Reuters GFMS study, silver industrial demand is expected to reach a new high in 2014. The silver price could remain range-bound near term. Data from The Commodity Trader's Almanac shows silver tends to peak of trend lower in May, reaching a bottom in late June. That sets the stage for a nice buying opportunity for savvy silver investors. As Money Morning Global Resource Specialist Peter Krauth explains, a lower silver price lures investors in, and the buying triggers a price boost. At last check, spot silver was trading at $19.32 an ounce, down $0.08, or 0.41%. Today's Top Story: The real skirmish in Ukraine is not being covered by the mainstream media. And these are the companies that may decide the fate of the country... Related Articles: The Silver Institute: World Silver Supply and Demand U.S. Mint: Bullion Sales/Mintage Figures Kitco: Silver Volatility Levels Near 10-Year Lows: Possible Trend Change on Horizon?

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