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Gold Ends Day With Two-Sided Action; Silver Remains Attractive – Phil Streible

Kitco News– After hitting a two-month high on Tuesday, gold prices ended Wednesday near unchanged levels in what has really been two-sided action. Phil Streible, senior market strategist over at RJO Futures explained that it was a very busy day for U.S. economic data. The numbers, he noted, have mostly come in line with expectations and have not significantly impacted markets. This includes the consumer price index, which came in at 0.3% higher in December from the previous month and up 2.1% from a year ago. Fed Chair Janet Yellen also speaks later today in California. Silver prices rallied however, with prices hitting a two-month high Wednesday as the market also sees a near-term uptrend under way. February Comex gold settled the day relatively flat at $1,212.10 an ounce while March silver settled 0.7% higher at $17.724 an ounce.

Article source: https://www.thestreet.com/video/13958374/gold-ends-day-with-two-sided-action-silver-remains-attractive-phil-streible.html

Silver Prices: Battle at Multi-Month Level

What’s inside:

  • Silver prices trading in key resistance zone extending back to June
  • Higher high from December could become rather significant
  • Trading outlook based on current situation for both longs and shorts

Trading Guides and Forecasts

On Monday, we described this week as being a pivotal one for not only silver prices, but for gold and the US dollar (DXY) as well. So far, that is proving to be the case with gold now firmly above 1200 and DXY forcefully challenging key support. Yesterday, silver had its highest close in over two months, creating a higher high from December (on a closing basis), but it still needs to push through the 12/7 intra-day high of 17.24 to fully clear resistance around the 17.20 line and fully validate the higher-high scenario.

A higher high would be considered a fairly significant event, given it would be the first one since peaking back in July; a larger break in trend could be underway. On a firm push above resistance running back to June we will look to the trend-line running lower from a swing high created in August; the line runs in the area of 17.70/75.

With gold continuing to advance above 1200 and the US dollar looking fragile, silver looks poised to continue higher. However, buying into resistance, as always stated here, doesn’t hold the best prospects for success over the long-run. But if silver can clear those pesky lower 17s, it could

Article source: https://www.dailyfx.com/forex/technical/home/analysis/xag-usd/2017/01/18/Silver-Prices-Battle-at-Multi-Month-Level-PRtech.html

Scrap Gold and Silver prices rise on Index, Platinum recedes on …

By Paul Ploumis

January 17, 2017 12:46:58 AM

SEATTLE (Scrap Monster): The daily scrap gold and silver prices – hallmarked and non- hallmarked moved higher from previous day on Monday, 16th January, 2017 on the ScrapMonster Price Index. However, the prices of Platinum scrap declined over the day.

In the Hallmarked category, the 14 carat gold scrap prices went higher by $ 3.64 per Oz. The prices of 18 carat and 22 carat gold scrap also went higher by $ 4.66 per Oz and $ 5.68 per Oz respectively. 9 carat gold scrap prices increased by $ 2.33 per Oz. The price of Platinum scrap witnessed decline of $ 7.29 per Oz to reach $ 707.98 per Oz. Silver scrap prices saw up tick of  $0.04 per Oz.

In the Non-Hallmarked category, the 14 carat gold scrap prices went higher by $ 3.44 per Oz. The prices of 18 carat and 22 carat gold scrap too went up by $ 4.41 and $ 5.38 per Oz respectively.9 carat gold scrap also increased by $ 2.21 per Oz. The price of Platinum scrap witnessed a decline of $ 7.29 per Oz to reach $ 707.98 per Oz. Meantime, Silver scrap prices inched higher by $ 0.04 per Oz during the day.

Article source: https://news.metal.com/newscontent/100720059/scrap-gold-and-silver-prices-rise-on-index-platinum-recedes-on-16th-jan-2017

Gold and Silver Market Morning: Jan 17 2017 – Gold and Silver moving higher with a lower $!





 – Published: Tuesday, 17 January 2017 | Print  | Disqus 

Gold Today New York closed at $1,196.20 on the 16th January after closing at $1,198.30 on the 13th January. London opened at $1,213.20 today.

 

Overall the dollar is weaker against global currencies today. Before Londons opening:

 -         The $:  was weaker at $1.0650: 1 from $1.0593: 1 yesterday.

-         The Dollar index was weaker at 101.09 from 101.70 yesterday

-         The Yen was stronger at 113.44: $1 from yesterdays 114.11 against the dollar. 

-         The Yuan was stronger at 6.8860: $1, from 6.9082: $1, yesterday

-         The Pound Sterling was stronger at $1.2115: 1 from yesterdays $1.2056: 1.

 

Yuan Gold Fix

Please note that the Shanghai Fixes are for 1 gm of gold. From the Middle Eat eastward metric measurements are used against 0.9999 quality gold. [Please note that the 0.5% difference in price can be accounted for by the higher quality of Shanghais gold on which their gold price is based over Londons good delivery standard of 0.995.]

 

Shanghai gold

Article source: http://news.goldseek.com/GoldForecaster/1484663064.php

Price of Silver in 2017: Why It Could Bounce Higher

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Article source: http://host.madison.com/business/investment/markets-and-stocks/price-of-silver-in-why-it-could-bounce-higher/article_f0efc2d2-34c2-50fa-92e9-8c514b68ef79.html

Gold, silver prices rise sharply over domestic buying, global uncertainty

gold prices, gold demand, gold outlook, silver prices, silver demand, india news, wgc gold demand

Brisk domestic buying for wedding season and global headwinds such as Brexit, Chinese currency worries and uncertainty over US president-elect Donal Trump’s trade and economic policies lifted gold and silver prices on Tuesday. The two metals have gained almost 5 percent since January 1.

Gold gained Rs 150 to close at Rs 29,650 per 10 gm; based on its December 31, 2016 closing of Rs 28,300 per 10 gm, the metal has gained 4.77 percent.

Silver ended Rs 100 higher at Rs 41,400 per kg on Tuesday, translating into a gain of 5.34 percent based on its December 31 closing of Rs 39,300 per kg.

Read: Gold, silver outlook for 2017 is bleak, says Angel Broking

“Gold is going to do very well in the first half of the year due to Brexit concerns, Chinese currency pressure and uncertainty surrounding Donald Trump’s policies,” Reuters quoted Richard Xu, fund manager at China’s biggest gold exchange-traded fund, HuaAn Gold, as saying.

Gold is also enjoying from what many political analysts call “TINA” (there is no alternative) factor. “Stock valuations are pretty high and bonds are not going to perform much better than what they are doing now. There are very few alternatives for liquidity to go to and gold prices will find some support,” Xu told

Article source: http://www.ibtimes.co.in/gold-silver-prices-rise-sharply-over-domestic-buying-global-uncertainty-712606

Silver Prices – Potentially Pivotal Week; Gold, USD in Focus – DailyFX

What’s inside:

  • Silver prices fall just shy of 17 last week, DXY turns higher from support
  • Keep an eye on gold around the 1200 line
  • Light trading today, but with big levels upon us the rest of the week should be important

See our Webinar Calendar for a schedule of upcoming live events.

On Thursday, we discussed the timing of silver running into resistance around 17 and the US Dollar Index (DXY) trading into support. So far, the DXY has made a turn off support in the 100.80/50 region, while silver came a couple of cents shy of 17 before seeing minor selling pressure. The 21-day correlation between silver and the DXY is presently at a strongly negative 84%, so it’s one worth keeping close tabs on.

The turn lower in silver on Thursday produced a small key reversal day. Even if the metal was to trade above that day high (16.98), it still needs to close beyond the thicket of resistance in the 17-17.24 area before a clearance of resistance and higher high from December will come into play. As long as it stays below, then the current advance off the December low will remain categorized as corrective in our book.

Silver: Daily

Silver Prices - Potentially Pivotal Week; Gold, USD in Focus

Created with Tradingview

Gold is trading back above 1200 at this time, keep an eye on it and whether

Article source: https://www.dailyfx.com/forex/technical/home/analysis/xag-usd/2017/01/16/Silver-Prices-Potentially-Pivotal-Week-Gold-USD-in-Focus-PRtech.html

Silver Wheaton: You Shouldn’t Be Missing This Growth Opportunity

By virtue of being a precious metals streaming company, Silver Wheaton (NYSE:SLW) looks set for a strong performance going forward. This is because a streaming company does not own any mining assets, but rather gets its production in the form of streams from the miners of other base metals. This allows Silver Wheaton to save on operating and maintenance costs related to mines, which is why it has a superior margin profile as compared to other major gold or silver miners.

This is evident from the chart below:

As seen in the chart above, Silver Wheaton’s operating margins are way superior as compared to its peers in the industry. In fact, its operating margin of 32% is more than double of Barrick Gold’s (NYSE:ABX) operating margin. Additionally, Silver Wheaton’s rivals have negative profit margins. This is one of the key reasons why I believe that Silver Wheaton will be able to deliver robust net income growth in the long run, which will eventually translate into stock price growth.

Now, looking ahead, there will be two factors that will drive the growth in the Silver Wheaton’s earnings – an improvement in precious metal pricing and a consistent cost base. In this article, we will take a closer look at the potential pricing of gold and silver going forward, and the impact it will have on Silver Wheaton’s financials.

A closer look at potential gold and

Article source: http://seekingalpha.com/article/4037104-silver-wheaton-missing-growth-opportunity

Gold and Silver Market Morning: Jan 16 2017 – Gold and Silver …





 – Published: Monday, 16 January 2017 | Print  | Disqus 

Gold Today New York closed at $1,198.30 on the 13th January after closing at $1,195.40 on the 12th January. London opened at $1,202.25 today.

 

Overall the dollar is stronger against global currencies today. Before Londons opening:

 -         The $:  was stronger at $1.0593: 1 from $1.0633: 1 Friday.

-         The Dollar index was slightly stronger at 101.70 from 101.33 Friday

-         The Yen was stronger at 114.11: $1 from Fridays 114.70 against the dollar. 

-         The Yuan was weaker at 6.9082: $1, from 6.8873: $1, Friday

-         The Pound Sterling was weaker at $1.2056: 1 from Fridays $1.2168: 1.

 

Yuan Gold Fix

Please note that the Shanghai Fixes are for 1 gm of gold. From the Middle Eat eastward metric measurements are used against 0.9999 quality gold. [Please note that the 0.5% difference in price can be accounted for by the higher quality of Shanghais gold on which their gold price is based over Londons good delivery standard of 0.995.]

 

Shanghai

Article source: http://news.goldseek.com/GoldForecaster/1484576183.php

Silver Prices – Potentially Pivotal Week; Gold, USD in Focus – Nasdaq

DailyFX.com -

What’s inside:

  • Silver prices fall just shy of 17 last week, DXY turns higher from support
  • Keep an eye on gold around the 1200 line
  • Light trading today, but with big levels upon us the rest of the week should be important

See our Webinar Calendar for a schedule of upcoming live events.

On Thursday , we discussed the timing of silver running into resistance around 17 and the US Dollar Index (DXY) trading into support. So far, the DXY has made a turn off support in the 100.80/50 region, while silver came a couple of cents shy of 17 before seeing minor selling pressure. The 21-day correlation between silver and the DXY is presently at a strongly negative 84%, so it’s one worth keeping close tabs on.

The turn lower in silver on Thursday produced a small key reversal day. Even if the metal was to trade above that day high (16.98), it still needs to close beyond the thicket of resistance in the 17-17.24 area before a clearance of resistance and higher high from December will come into play. As long as it stays below, then the current advance off the December low will remain categorized as corrective

Article source: http://www.nasdaq.com/article/silver-prices-potentially-pivotal-week-gold-usd-in-focus-cm733821