silver price

Silver Prices Lack A Catalyst, Silver Stocks to Watch

Gold and silverUp day. Down day. Seems to be the story of silver. And the moves lack any real conviction as the the poor man’s gold just lists around within a range. The expectations of further stimulus are no longer enough to be a market driver. Plus anemic demand expectations of of India has tempered silver price action to the upside.

Currently silver prices are in retreat along with the the broader market. Seems like everyone is waiting on Alcoa and then the Fed reaction to earnings season. Currently silver is down 35 cents to $31.41. [Read more...]

Silver Prices Slip, Silver Stocks to Watch

Gold and silverSilver prices slipped in early trading today as the dollar continues to gain strength. The dollar is strengthening after the Fed meeting yesterday where they gave no hints at any further monetary easing. The Fed also indicated that the economy was growing at a moderate pace. Not exactly a death knell for silver, but the recovery is definitely crimping the silver bug’s style.

The dollar hit an 11-month high against the yen and also rose against the euro. The euro is down 0.4% against the dollar right now at 1.3023.

Silver futures are currently trading down 3.08% at $32.51. [Read more...]

Gold Price Tumbles Again – Sixth Straight Day in Negative Territory

Gold bugs at this point can’t wait for 2011 to be over. The once high flying metal took another $20 hit in trading today sending it to levels not seen since July. The majority of the selling are funds liquidating positions to build their cash balance going into the new year. Traders want to be cash-flow positive so they are taking their profits now.

Recent economic data has also tempered demand for the metal on the futures market. Though you wouldn’t be able to tell if you looked at physical purchases on a local level. Those are still going strong as the average person looks to hedge against what they perceive as runaway government spending and monetary easing by Central Banks. The coming 2012 election cycle and the continuing EU crisis should help prop up prices in the long-term and drive physical demand.

Housing data released today also helped stem the flight to safe haven investments – typically precious metals. Pending home sales jumped to their highest level in 19 months. The Chicago PMI also has a better than expected reading, coming in at 62.5. While jobless claims jumped, they stayed under the ceiling that economists say is needed for modest labor growth expansion.

Precious metals investors looking for a ray of hope in this dismal week should look to silver. After dropping precipitously with gold over the past week, including a 5% drop yesterday, silver prices managed a gain today. Noted silver / gold bull Max Keiser said recently that the drop in precious metals is definitely a buying opportunity. He points out correctly that none of the economic woes in Europe have been fixed. Plus you have utter dysfunction in Washington, that will only get worse as parties jockey for position going into the election cycle of 2012.

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