Silver prices | Gold, Silver Prices Change Narrowly | Coin News

Gold, Silver Prices Change Narrowly | Coin News
The Banks Are Manipulating Silver Prices :: The Market Oracle ...
Silver Prices Post Slight Gains in Slow Week - Money Morning
Why Silver Prices Are Up Today - Money Morning
Gold and silver prices settle lower after jumping | The Salt Lake ...

Gold, Silver Prices Change Narrowly | Coin News

Posted: 23 Jul 2014 11:39 AM PDT

Precious metals prices logged modest changes Wednesday

Gold, silver and platinum logged a second straight day of losses Wednesday while palladium extended its losing streak to four sessions. All moved narrowly.

Gold for August delivery settled down $1.60, or 0.1%, to $1,304.70 an ounce on the Comex division of the New York Mercantile Exchange. Investors were more keyed on stocks than safe-havens with the S&P 500 hitting another record high.

"Gold prices ended the U.S. day session steady to slightly lower in quieter trading Wednesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Less risk aversion in the market place at mid-week is a bit bearish for safe-haven gold. However, the geopolitical events recently are still keeping sellers of gold leery."

Gold prices ranged from an intraday low of $1,303.50 to a high of $1,311.80. They declined in the prior session by $7.60, or 0.6%.

Silver for September delivery shed a penny after sliding about a half-cent in the previous session. The white metal settled at $21.00 an ounce, ranging from $20.94 to $21.11.

In PGM futures on Wednesday:

October platinum declined $1.60, or 0.1%, to $1,486.70 an ounce, trading between $1,482.70 and $1,493.10.
Palladium for September turned down 55 cents to $874.30 an ounce, ranging from $871.90 to $878.90.

London Fix Precious Metals

Earlier fixed London precious metals also registered mostly modest changes. In contrasting the London bullion fix prices from Tuesday PM to Wednesday PM:

Gold dipped $2.25, or 0.2%, to $1,308 an ounce,
Silver gained 12 cents, or 0.6%, to $20.93 an ounce,
Platinum lost $1, or 0.1%, to $1,486 an ounce, and
Palladium rose $2, or 0.2%, to $874 an ounce

US Mint Bullion Sales in July

United States Mint bullion sales were unchanged as of 2:38 PM ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on last week, this week so far, last month, the month to date, and the year to date.

American Eagle and Buffalo Bullion Sales (# of coins)
	Wednesday Sales	Sales Last Week	Current Sales Week	June Sales	July Sales	YTD Sales
$100 American Platinum Eagle Bullion Coins	0	0	0	700	0	12,900
$50 American Eagle Bullion Gold Coins	0	10,500	3,000	43,000	24,500	223,000
$25 American Eagle Bullion Gold Coins	0	0	0	2,000	0	27,000
$10 American Eagle Bullion Gold Coins	0	4,000	2,000	4,000	6,000	78,000
$5 American Eagle Bullion Gold Coins	0	15,000	5,000	35,000	25,000	385,000
$50 American Buffalo Bullion Gold Coins	0	1,500	500	16,000	4,500	116,000
$1 American Eagle Silver Bullion Coins	0	590,000	615,000	2,692,000	1,640,000	25,768,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins	0	0	500	2,000	500	29,500
Shenandoah National Park 5 Oz Silver Bullion Coins	0	0	0	900	0	20,000
Arches National Park 5 Oz Silver Bullion Coins	0	1,000	0	18,500	1,500	20,000

The Banks Are Manipulating Silver Prices :: The Market Oracle ...

Posted: 19 Jul 2014 12:07 PM PDT

Commodities / Gold and Silver 2014 Jul 19, 2014 - 09:07 PM GMT

By: Investment_U

Sean Brodrick writes: The big banks have smashed gold and silver lower this week, and after that shellacking, you'd have to be crazy to buy precious metals, right?

Yeah. Crazy like a fox.

If you're smart, you're going to put on your big-boy pants and buy silver right now.

And I'll show you why.

The key is in this monthly chart of silver performance, going back over the past 20 years...

You can see that over the past 20 years, silver has closed July higher than it started 70% of the time. It charged higher in August 63% of the time. September: 68% of the time.

But wait, wait! Twenty years is too long a time frame, you say? Fine. Then chew on this: In the past five years, silver has closed out July and August higher than it started 100% of the time. In September, it closed higher 60% of the time.

So why does this happen? Silver and gold are both subject to seasonal forces. There are times of the year when major income-cycle and cultural factors ignite demand. Prices start to rise in the summer because jewelers stock up for demand that starts with India, then rolls through the globe - the Middle East, China and finally the Western world when Christmas comes around.

'Tis the Season

Ignore seasonal trends at your own peril. Awareness of such trends can line your pockets.

For example, I told you about the seasonal trend for the U.S. dollar in May. And sure enough, the greenback finished the month higher again.

Why, then, did precious metals nosedive this week? The big banks are smashing the price lower in order to scare people to the sidelines.

They did it by selling insanely high volumes of futures contracts - paper silver and gold - on Monday and Tuesday.

Why would they do that? Because the Wall Street banks want to buy precious metals on the cheap, of course.

The manipulation of precious metal markets is more ham-fisted than usual lately. Maybe they're taking us all for chumps.

But that's just this week's noise. I say, forget that and focus on the bigger trend... and see the opportunities that are there for the taking.

I think you should beat them at their own game.

For Long Term, Too

Here's something else the banks know about silver: Demand has been outstripping mining supply for most of the last 20 years. After all, there are more and more uses for silver as both a precious and industrial metal. There is only so much supply.

You may not know that above-ground supplies of silver have fallen to historically low levels. In the year 1900 there were 12 billion ounces of above-ground silver in the world. Today, that figure has dropped to less than 1.39 billion ounces, according to CPM Group.

Do you see how the fuse could be lit on a supply/demand squeeze in silver? I sure do.

Good investing,

Sean Brodrick

Editor's Note: As The Oxford Club's Resource Strategist, Sean knows how to profit from things that come out of the ground, be it metals, oil or natural gas.

He recently spoke to the Club's Marc Lichtenfeld about the 94-year-old man whose invention Sean thinks may have "saved America." This innovation is creating a generation of oil and gas millionaires, and once-in-a-lifetime investment opportunities for ordinary Americans. To hear this incredible story, and learn how you can participate, click here.

Source: http://www.investmentu.com/article/detail/38801/buy-silver-banks-manipulating-silver-prices

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Silver Prices Post Slight Gains in Slow Week - Money Morning

Posted: 17 Jul 2014 10:43 AM PDT

Silver is having a slow week right now, although it got a boost today stemming from fears over geopolitical conflict.

Silver prices fell to about $20.79 at 11 a.m. EDT this morning (Thursday), but surged ahead to $21.23 within an hour. The advance happened after a Malaysian plane crashed on the Ukrainian-Russian border. The Boeing 777 was said to be transporting about 295 passengers from Amsterdam to Kuala Lumpur, The Telegraph reports.

Before that, silver stemmed two straight days of losses yesterday (Wednesday), closing with a 0.2% gain on the day and trading at $20.83 an ounce.

The iShares Silver Trust (NYSE: SLV) ETF is also down 0.7% on the week, while the ProShares Ultra Silver ETF (NYSE: AGQ) is down 2.7%, by the close of the market yesterday.

Coming into this week, silver slid as much as 3.5%, as news from Europe allayed investor fears over the health of the Portuguese financial sector.

"Part of [silver's price decline] was backing away from the view that the Portuguese bank problems represented a serious threat to the European banking system as a whole," managing partner at CPM Group Jeffrey Christian, wrote in an email to Money Morning. "Perhaps investors had a weekend to let the news sift through their brains, and realized the sky wasn't falling?"

Concerns arose last week for Portugal's largest lender, Banco Espírito Santo SA, when it suspended shares on the heels of steep losses. These losses were triggered by panic over the financial health of the parent company Espírito Santo International SA, which missed payments to some investors holding short-term commercial paper.

This provided a boon to silver prices, as they were up 1.7% on the day yesterday, and rounded out their sixth straight week of gains. Silver, as well as other precious metals, generally performs well when the markets panic as investors look for a hedge to protect against a loss in other investments.

This six-week period between June and July usually sees weak trading for silver, but as traders covered short positions and the U.S. Federal Reserve remained reticent on inflation expectations, silver has since seen as much as a 14.5% increase at the height of the rally from the lows it hit in June.

Silver Prices Still Poised to Advance Despite Some Profit Taking

While silver was trading as low as $20.63 Wednesday, down from the week's opening price of $21.48, Money Morning Resource Specialist Peter Krauth said this is just a function of the white metal hitting three-month highs and investors taking gains where they can.

"I have to say that I do think this is simply the market's healthy process of profit taking," Krauth said. "It had a good run lately."

Silver joined gold, platinum, grains, and oil in this most recent decline in prices.

Krauth said to watch for silver to hit its next benchmark around $22, a figure it touched a couple of times in February but wasn't able to maintain as silver hit an almost three-month bearish cycle going into March.

"I think we need to see silver close above $22 and remain there," Krauth said. "It's the last high it tried to best twice in February, but couldn't quite beat."

The reign of a small cabal of banks fixing the price of silver is set to end in August, dismantling a 117-year-old institution that kept silver prices artificially low. Here's what it means now that silver's price will be unfettered and allowed to float with the market...

Why Silver Prices Are Up Today - Money Morning

Posted: 10 Jul 2014 11:22 AM PDT

Heading into the week silver prices were cooling off from a June rally, potentially signaling the start of the summer doldrums, when the white metal generally sees weak trading.

But a new release from the Fed this week is one of the big reasons why silver prices are up today...

Wednesday marked the release of last month's Federal Open Market Committee (FOMC) meeting minutes, which caused silver prices to push back in the face of low expectations. Just before the 2 p.m. EDT release of the Fed minutes, silver was trading down 0.8% on the week at $21.03 an ounce. Since then, silver has shot up as high as $21.53, a 2.4% surge.

Silver hasn't seen prices this high since March, when it was topping out a bullish month for traders.

Silver prices are up today Investors have been listening closely to the words of the Fed lately, with Fed Chairwoman Janet Yellen's mention of potential interest rate hikes or disregard of the prospects for inflation moving silver prices in both directions. The most recent FOMC minutes did little else than reaffirm Yellen's words in last month's post-FOMC meeting press conference where she stayed firm on a commitment to keep interest rates at their near-zero level for a "considerable time."

And the silver market responded in kind, trading up on the day and carrying that momentum into this morning.

In June's press conference Yellen's "downplaying of inflation," as President and Chief Operating Officer (COO) of Asset Strategies International in Rockville, Md., Richard Checkan told Money Morning, was a big part of the June rally, which saw a jump following the meeting.

"There are no real supply and demand changes," Checkan said. "I think it's more a reaction to the sound bites."

Silver Price Stands to Gain from Fed's Inflationary Policies

Silver, like gold and other precious metals, is seen by investors as an inflation hedge, and at a time when the Fed has kept rates low and pursued a highly accommodative monetary policy, the economic environment is ripe for an accelerated increase in prices.

The growth of the Consumer Price Index (CPI) shows inflation running at a 2.1% year-over-year rate, said Money Morning Resource Specialist Peter Krauth, and at that rate it could climb to 3% late this year.

"Could inflation get out of hand? There's a strong possibility," Krauth said.

And with the recent June rally for not only silver, but also gold - which silver moves in tandem with, as both attract inflation-minded investors - we could be in the midst of an inflationary period.

"It's still early, but just maybe these are signals that inflation is becoming entrenched," Krauth said.

The Fed isn't the only actor behind silver's rise. There was also a lot of activity by investors who were liquidating their short positions and adding to their long positions, just following a bearish cycle where silver prices fell below $19 in late May, Jeffrey Christian, a managing partner at the CPM Group told Money Morning.

"What we mostly saw was the price rising over the last couple weeks due to short covering," and, "you saw fresh long buying," Christian said.

Silver is not only an inflation hedge for investors, but also an important metal in the industrial production of items like jewelry and silverware, providing demand from multiple sources. But the summer months tend to soften both trading and fabrication.

"Investment demand and fabrication demand have strong seasonality and you tend to see the weakest period of demand for silver in July and August both from investors and industrial users," Christian said.

Despite being well into the summer months, silver has yet to see a big sell-off or a significant drop in prices. As of 11:36 a.m. EDT, the silver price was around $21.40, up 14.3% from silver's early lows in early June.

More on Precious Metals Investing: Money Morning recently detailed for our Members the importance of owning gold now - and delivered a two-part "cheat sheet" that outlines the right amount of gold for your portfolio. You can get that gold investing guide - for free - here.

Gold and silver prices settle lower after jumping | The Salt Lake ...

Posted: 18 Jul 2014 01:23 PM PDT

Precious metals » Nerves calmer in the quiet aftermath of the plane being shot down.

Gold prices settled lower to end the week, a day after concerns about a conflict between Russia and Ukraine shot prices up.

Gold for August delivery fell $7.50, or 0.6 percent, to $1,309.40 an ounce. Silver for September sank 25 cents, or 1.2 percent, to $20.89.

Markets were rattled on Thursday following news that a passenger plane was shot down over eastern Ukraine, a battleground where government troops have been fighting Russian-backed separatists. Speculation that tensions between Russia and Ukraine could boil over sent traders into precious metals.

Dan Walsh, market strategist at RJ O'Brien & Associates in Chicago, says that with no escalation on Friday, traders were more willing to buy riskier assets, like stocks. Gold and U.S. government bond prices sank, while the stock market made gains.

Walsh cautioned that the situation is still fluid. Any new development could drive traders out of riskier investments and into precious metals and other hiding spots.

Traders often shift money into gold in anticipation of a crisis. In March, gold prices hit a high point for the year on concerns over a territorial dispute between Russia and Ukraine.

Industrial metals also settled lower Friday. Copper for September fell 4 cents to $3.18 a pound. Platinum for October dropped $13.80 to $1,489.90 an ounce, while palladium for September dropped $3.60 to $881.50 an ounce.

Wheat lost 19 cents to $5.32 a bushel. Corn fell 9 cents to $3.79 a bushel, and soybeans slipped 9 cents to $10.85 a bushel.

In the market for oil and gas, crude oil slipped 6 cents to end at $103.13 a barrel on the New York Mercantile Exchange.

In other trading on the Nymex:

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— Wholesale gasoline fell 2 cents to $2.86 a gallon.

— Heating oil shed 1 cent to $2.85 a gallon.

— Natural gas was unchanged at $3.95 per 1,000 cubic feet.