Silver Price – Silveracce 365 http://silveracce365.com/ Wed, 18 May 2022 02:39:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://silveracce365.com/wp-content/uploads/2021/06/icon-5.png Silver Price – Silveracce 365 http://silveracce365.com/ 32 32 Commissioner Adam Silver says NBA is working with WNBA to release Brittney Griner from Russia https://silveracce365.com/commissioner-adam-silver-says-nba-is-working-with-wnba-to-release-brittney-griner-from-russia/ Wed, 18 May 2022 02:03:24 +0000 https://silveracce365.com/commissioner-adam-silver-says-nba-is-working-with-wnba-to-release-brittney-griner-from-russia/ NBA Commissioner Adam Silver said Tuesday that he is working “side-by-side” with WNBA Commissioner Cathy Engelbert to try to bring Brittney Griner home. Speaking to ESPN’s Malika Andrews in a televised interview from Chicago ahead of the NBA draft lottery, Silver said his league heeded expert advice when it didn’t take an aggressive approach in […]]]>

NBA Commissioner Adam Silver said Tuesday that he is working “side-by-side” with WNBA Commissioner Cathy Engelbert to try to bring Brittney Griner home.

Speaking to ESPN’s Malika Andrews in a televised interview from Chicago ahead of the NBA draft lottery, Silver said his league heeded expert advice when it didn’t take an aggressive approach in the early stages of Griner’s incarceration in Russia.

“We have been in contact with the White House, the State Department, hostage negotiators, all levels of government and also through the private sector,” Silver said. “Our top priority is her health and safety and making sure she gets out of Russia.”

The State Department also said Tuesday it is still pushing to have regular contact with the Phoenix-Mercury star.

A consular officer was able to meet with Griner last week when her pre-trial detention in Russia was extended by a month. Griner has been detained – wrongly, according to US officials – since February after vape cartridges containing cannabis-derived oil were allegedly found in her luggage at a Moscow airport.

“This consular officer feels that Brittney Griner is doing as well as could be expected under what can only be described as extremely difficult conditions,” State Department spokesman Ned Price said in Washington. “But sporadic contact is not satisfactory. It may also not be in line with the Vienna Convention, which Russia is a party to.”

The 31-year-old Griner – a two-time Olympic gold medalist for the USA – faces a maximum sentence of 10 years in prison for drug smuggling. Biden administration says Griner is being wrongly imprisoned. The WNBA and US officials have been working towards their release with no visible progress.

Secretary of State Antony Blinken has spoken to Griner’s wife over the past few days, Price said.

“He once again expressed the priority we place on seeking the release of all Americans around the world, including Brittney Griner in the case of Russia, Paul Whelan in the case of Russia, those Americans we consider unjustly imprisoned.” said Price . “This has been a priority of Minister Blinken since the earliest days of his tenure.”

Whelan is a Michigan security researcher being held in Russia. He was arrested in December 2018 while attending a friend’s wedding and later sentenced to 16 years in prison on spying charges, which his family says are false.

The Associated Press contributed to this report.

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BMO cuts Endeavor Silver price target to $5.25 https://silveracce365.com/bmo-cuts-endeavor-silver-price-target-to-5-25/ Sun, 15 May 2022 17:11:00 +0000 https://silveracce365.com/bmo-cuts-endeavor-silver-price-target-to-5-25/ Endeavor Silver Corp. (TSX:EDR) released its financial results for the first quarter last week. The company reported revenue of $57.7 million this quarter, up 67% year over year. Though the company’s net earnings were flat year over year as inflation ate away at gross earnings. The company posted net income of $11.7 million for the […]]]>

Endeavor Silver Corp. (TSX:EDR) released its financial results for the first quarter last week. The company reported revenue of $57.7 million this quarter, up 67% year over year. Though the company’s net earnings were flat year over year as inflation ate away at gross earnings. The company posted net income of $11.7 million for the quarter.

Commenting on the results, CEO Dan Dickson said, “Our performance in the first quarter was strong and puts us on track to meet our 2022 production guidance.”

Endeavor announced that its mine operating income for the quarter increased 258% year-on-year to $20.3 million, while its pre-tax mine operating cash flow increased 101% year-on-year to $26.7 million.

In terms of production results, the Company produced 1,314,955 ounces of silver and 8,695 ounces of gold, a 25% increase in silver production while gold production decreased 22% year-on-year. This brings the Company’s total production to 2,010,555 silver equivalent ounces, a 4% increase over the prior year. In addition, the company processed 206,147 tonnes year-on-year.

Endeavor says cash costs per ounce of silver production were $10.21, up 30% year-over-year, while total costs per ounce of silver for the quarter were $15.13. The Company sold 1,717,768 ounces of silver at a realized price of $24.38, down approximately 10% from the prior year. They also sold 8,381 ounces of gold at a realized price of $1,970, up 16% year-on-year.

Endeavor Silver currently has 7 analysts covering the stock with a 12-month average price target of $7.12, a 65% increase from the current share price. Of the 7 analysts, 2 have buy ratings and the other 5 have hold ratings. The street high is $11.04, or up 155%.

In BMO Capital Markets’ note on the results, they reiterate their assessment of the market‘s performance and lower their 12-month price target to $5.25 from $6.00, saying the change is primarily due to the rolling -Due to forward estimates.

On the results, BMO says Endeavor Silver’s reported adjusted earnings per share of $0.07 beat its estimate of $0.04. The other highlight BMO talks about is the company’s operating cash flow, which matched estimates of $21.7 million.

While BMO notes that Endeavor’s sales were $57.5 million, which includes a good chunk of inventory, they say the additional metal sales were previously cabled.

Below are BMO’s updated estimates of Endeavor Silver.


Information for this briefing was found through Sedar and Refinitiv. The author has no securities or affiliations with the organizations discussed. No buy or sell recommendation. Always conduct additional research and consult a professional before purchasing any security. The author does not own any licenses.

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Gold falls Rs 451/10g, Silver plummets Rs 740/kg https://silveracce365.com/gold-falls-rs-451-10g-silver-plummets-rs-740-kg/ Wed, 11 May 2022 08:08:03 +0000 https://silveracce365.com/gold-falls-rs-451-10g-silver-plummets-rs-740-kg/ Gold and Silver Prices Today News Updates: Gold and silver prices in the country’s major spot markets opened significantly lower on Wednesday, May 11, 2022. The opening price for 999 pure gold was 51,045 rupees per 10 grams, down 451 rupees from Tuesday’s close of 51,496 rupees, while that for 999 pure silver was 60,733 […]]]>

Gold and Silver Prices Today News Updates: Gold and silver prices in the country’s major spot markets opened significantly lower on Wednesday, May 11, 2022.

The opening price for 999 pure gold was 51,045 rupees per 10 grams, down 451 rupees from Tuesday’s close of 51,496 rupees, while that for 999 pure silver was 60,733 rupees per kg, down 740 rupees from 61,473 rupees Conforms to data available on India Bullion and Jewelers Association (IBJA) website.

gold bar purity Opening Price (Rs) Previous Close (Rs)
gold 999 51,045 51,496
995 50,841 51,290
916 46,575 47,170
750 38,284 38,622
585 29,861 30,125
Silver 999 60,733 61,473
Source: India Bullion and Jewelers Association (IBJA)

On the Multi Commodity Exchange of India (MCX), the gold contract for June delivery was trading at Rs 50,642.00 per 10 grams, up Rs 56.00 (0.11 percent) at 13:16, while the silver contract for July delivery was Rs 60,900.00, down to Rs 282.00 (0.47 percent).

In the global market, gold hit a three-month low on Wednesday as an elevated dollar pushed prices lower as investors await monthly US inflation data, which could impact the Federal Reserve’s monetary policy stance and demand for precious metals, the reported Reuters news agency.

Spot gold held steady at $1,838.55 an ounce by 0546 GMT, having fallen to its lowest level since Feb. 11 earlier in the session, as a relatively strong dollar made bullion priced against the greenback less attractive to overseas buyers. U.S. gold futures fell 0.2 percent to $1,836.60, the report said.

Commenting on the movement in the gold market, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart said: “While investors await the US CPI data, the daily trend in gold and silver could remain range-bound. Gold has a support level of Rs 50,000 and a resistance level of Rs 51,200. Silver has a support level of Rs 60,000 and a resistance level of Rs 62,000.”

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Gold price today is Rs. 51,710 per 10g, silver price is Rs. 62,500 per kg https://silveracce365.com/gold-price-today-is-rs-51710-per-10g-silver-price-is-rs-62500-per-kg/ Mon, 09 May 2022 01:43:00 +0000 https://silveracce365.com/gold-price-today-is-rs-51710-per-10g-silver-price-is-rs-62500-per-kg/ The price of 10 grams of 24k gold remains unchanged at Rs 51,710 on Monday from yesterday’s rate and the price of 1 kg of silver is also the same as on Sunday at Rs 62,500 per kg. The price of 10 grams of 22k gold also remains unchanged at Rs.47,400, according […]]]>

The price of 10 grams of 24k gold remains unchanged at Rs 51,710 on Monday from yesterday’s rate and the price of 1 kg of silver is also the same as on Sunday at Rs 62,500 per kg.

The price of 10 grams of 22k gold also remains unchanged at Rs.47,400, according to the Goodreturns website on Monday.



The price of 10 grams of 24 karat gold in Delhi and Mumbai is the same as 10 grams of 24 karat gold in Bengaluru, Hyderabad and Kolkata, with the precious metal trading at Rs 51,710 in these regions.

The price of 10 grams of 22-karat gold in Delhi and Mumbai is also the same as 10 grams of 22-karat gold in Bengaluru, Hyderabad and Kolkata, with the metal selling for 47,400 rupees in those regions.

However, the price of 10 grams of 24k gold and 22k gold in Chennai is higher than the other cities at Rs 53,200 and Rs 48,770 respectively.

The price of 1kg of silver in Delhi, Mumbai and Kolkata is 62,500 rupees, while the metal is trading at 66,800 rupees per day in Chennai, Bengaluru and Hyderabad.

The price of gold varies for different regions based on parameters such as excise duty, duties and government taxes.

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Zacatecas Silver Receives Permits for 30 Oil Rigs at El Cristo https://silveracce365.com/zacatecas-silver-receives-permits-for-30-oil-rigs-at-el-cristo/ Fri, 06 May 2022 12:30:00 +0000 https://silveracce365.com/zacatecas-silver-receives-permits-for-30-oil-rigs-at-el-cristo/ The Secretariat for Environment and Natural Resources of Mexico (“SEMARNAT”) has approved 30 drill permits at El Cristo that will allow drill targets throughout the extensive silver-rich vein system. Multiple oxidized silver-base metal mineralized veins have now been defined over at least 4 km of strike length, significantly extending the previously reported strike length of […]]]>
  • The Secretariat for Environment and Natural Resources of Mexico (“SEMARNAT”) has approved 30 drill permits at El Cristo that will allow drill targets throughout the extensive silver-rich vein system.
  • Multiple oxidized silver-base metal mineralized veins have now been defined over at least 4 km of strike length, significantly extending the previously reported strike length of 2.5 to 3.0 km.
  • All in all 2500m of diamond drilling at this early stage of drilling at El Cristo.
  • Drilling is ongoing in the Panuco North area with multiple assay results pending.

El Cristo vein system

El Cristo is located in the central portion of the Zacatecas property. It is the north-west extension of the well-known Veta Grande Vein that has reported but not verified historical production of 200 Moz AgEq. The veins at El Cristo show similar characteristics as at Veta Grandehave a similar orientation and are part of the same sigmoidal dilatation zone.

DR Chris WilsonChief Operating Officer and Director of Zacatecas Silver, commented, “The permitting of 30 drill pads at El Cristo will allow the Company to test multiple veins within a dilatation zone nearly 4 km long and up to 4 km long 600m far. The permitted pads will allow testing of the shallow depth extensions of the veins, a strategy that has worked very well at Panuco North, where the Company is currently drilling. Of particular interest at El Cristo are those portions of the veins that show historical shafting and surface workings. Historical unconfirmed assay results from channel sampling show robust silver grades and the down dip extension of these zones are very attractive targets.”

Historically, the El Cristo vein system has only been tested with 8 angled diamond drill holes, despite containing multiple veins within a 4 km long and up to 4 km long dilatation zone 600m far. In addition, these drill holes targeted the vein at depths of less than 100 to 200 meters. There are over 20 known historic shallow workings and several areas of shallow historic workings.

The cumulative strike length of all veins at El Cristo is at least 12 kilometers. El Cristo is a highly prospective system with numerous high quality cross-streak, straddle and bend targets. Veins exhibit multiphasic and brecciated textures, indicating multiple mineralization events. Although the historical surface channel samples are unverified and unreliable, they show that many veins are strongly anomalous to silver at surface. Vein textures and mineralogy at El Cristo are consistent with the uppermost portions of an intermediate sulfidation system, indicating robust downhole potential.

Qualified Person

The content of this press release has been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, Chief Operating Officer of Zacatecas Silver. dr Wilson is a Qualified Person as defined by National Instrument 43-101 – Disclosure Standards for Mineral Projects and is responsible for all technical information in this press release.

About Zacatecas Silver Corp.

Zacatecas is a mineral resource company with the advanced-stage gold-focused Esperanza gold project and the advanced-stage silver-focused Zacatecas property. The Zacatecas Property is located in the State of Zacatecas, Mexico, within the highly prospective Fresnillo Silver Belt which has produced over 6.2 billion ounces of silver. The Company holds 7,826 ha (19,338 acres) of land highly prospective for low- and intermediate-sulphidation silver-base metal mineralization and possible low-sulphidation, gold-dominated mineralization. on December 15, 2021Zacatecas Silver announced a mineral resource estimate for the Panuco deposit consisting of 2.7 million tonnes grading 187 g/t AgEq (171 g/t Ag and 0.17 g/t Au) for 16.4 Moz AgEq (15 Moz silver and 15,000 ounces) consists of gold) (see Company press release dated December 15, 2021).

The Zacatecas property is located 25 km southeast of MAG Silver Corp.’s Juanicipio mine. and Fresnillo PLC’s Fresnillo Mine. The Zacatecas Property shares common boundaries with Pan American Silver Corp.’s claims. and El Orito, owned by Endeavor Silver Corp. located. There are four high-grade silver prospects within the Zacatecas property: the Panuco deposit, Muleros, El Cristo and San Manuel-San Gill. The Zacatecas property also includes El OroEl Orito, La CanteraMonserrat, El Penón, San Judas and San Juan Silver base metal vein targets and such targets are relatively unexplored and will be the focus of rapid exploration.

The advanced stage Esperanza Gold Project, covering 14,337.83 hectares, is located in Morelos State, Mexico. Significant core and reverse circulation drilling has been completed to date at the Esperanza Gold Project resulting in a total of 389 drill holes for 69,716 metres.

Alamos Gold Inc. reported in its most recent Annual Information Form a resource estimate of a measured and indicated resource of 34,352,000 tonnes grading 0.98 g/t gold and 8.09 g/t silver for 1,083,366 ounces of gold and 8,936,201 ounces of silver an inferred resource of 718,000 tonnes grading 0.80 g/t gold and 15.04 g/t silver for 18,375 ounces of gold and 347,192 ounces of silver. The Company considers this a historical resource as defined by National Instrument 43-101. Resource blocks have been defined with dimensions of 10 meters (m) by 10 meters by 5 meters. Estimation of grades was performed using standard kriging on clipped composites. An additional step in the estimation strategy was the use of the dynamic anisotropy technique in Vulcan’s unfolding options. This additional capability allows for a more realistic result of the spatial distribution of the estimated grade as it follows the folded shape of the deposit. The assumptions used on the resource include the following metal prices: gold price of $1,400 (US) per ounce (oz) and silver price of $22 (US) per ounce. The following economic assumptions were used for the resource: recoveries from 60.4 percent at 0.2 g/t to 71.9 percent at 1.6 g/t for gold, 25 percent for silver, $2.60 per tonne mining costs, 64 cents per general and administrative costs, $4.20 per tonne grinding costs and a 45 degree pit incline. The Company believes the resource is relevant based on its identification and modeling of the Esperanza deposit.

The Company has not done sufficient work to classify the resource as a current mineral resource or mineral reserve and the Company is not treating the historical estimate as a current mineral resource or mineral reserve. Although the resource estimate is believed to be reliable, the Company will resample a portion of the drill core in order to complete a new resource estimate. In addition, additional data review including re-logging of selected diamond drill hole collars; reviewing graphical drill core logs, comparing these logs to remaining half-cut core and cross-checking selected geological log entries in the agonist database; and a reconciliation of the original sample certificates with the sample and drill hole database.

In the name of the company
Bryan Slusarchuk
Chief Executive Officer and Director

Forward-Looking Statements

The information contained in this press release contains forward-looking statements that are based on assumptions as of the date of this press release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zacatecas Silver cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their control. These factors include, among others: risks and uncertainties related to Zacatecas Silver’s limited operating history, proposed exploration and development activities on its properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results could differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required by applicable securities laws, Zacatecas Silver undertakes no obligation to publicly update or revise any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the Exchange’s policies) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Zacatecas Silver Corp.

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XAG/USD falls below $22.50 and sees yearly lows around $22.00 as Fed threatens https://silveracce365.com/xag-usd-falls-below-22-50-and-sees-yearly-lows-around-22-00-as-fed-threatens/ Wed, 04 May 2022 14:44:28 +0000 https://silveracce365.com/xag-usd-falls-below-22-50-and-sees-yearly-lows-around-22-00-as-fed-threatens/ Silver is back below the $22.50 level and on course for a tenth day of losses as the Fed threatens. Traders expect a test of yearly lows near $22.00 if the central bank delivers a hawkish surprise. Spot Silver (XAG/USD) prices continue to trade on the downside ahead of the Fed’s key monetary policy announcement […]]]>
  • Silver is back below the $22.50 level and on course for a tenth day of losses as the Fed threatens.
  • Traders expect a test of yearly lows near $22.00 if the central bank delivers a hawkish surprise.

Spot Silver (XAG/USD) prices continue to trade on the downside ahead of the Fed’s key monetary policy announcement on Wednesday and as US traders at their desks after falling back below $22.50 a troy ounce arrived, see them on track to post a tenth consecutive session in the red. At current levels around $22.30, silver is trading down just over 1.0% on the day and has stretched its losses to almost 15% since mid-April, when the precious metal temporarily topped $26.00. The disappointing March US trade balance and April ISM Service PMI data had no impact on prices.

The Fed is expected to hike rates by 50 basis points, although there is some speculation that it could hike rates by 75 basis points and is expected to signal rates of around 2.5% by year-end ( which a series of rate hikes of more than 25 bps per meeting are likely). Should Fed Chair Jerome Powell hint at the likelihood of a higher terminal rate at the post-meeting press conference, markets could see a hawkish reaction that could put even more pressure on silver prices.

XAG/USD bears are eyeing a test of support in the form of the 2022 lows in the $22.00 area, a break below would open the door for a pullback towards the mid-$21.00 Q4 2021 lows . While the Fed doesn’t deliver a hawkish surprise, concerns over geopolitics as the EU moves closer to a blanket ban on Russian oil imports and ongoing concerns over Chinese growth amid ongoing lockdowns in Beijing and Shanghai suggest the dollar may be weak for the foreseeable future will remain robust future. That alone might be enough to force XAG/USD lower to test the key support in the coming weeks.

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Hedge Funds Drop Bullish Gold, Silver Bets Ahead of Fed Meeting – CFTC https://silveracce365.com/hedge-funds-drop-bullish-gold-silver-bets-ahead-of-fed-meeting-cftc/ Mon, 02 May 2022 20:55:00 +0000 https://silveracce365.com/hedge-funds-drop-bullish-gold-silver-bets-ahead-of-fed-meeting-cftc/ Editor’s Note: With so much market volatility, keep up with the daily news! In just a few minutes, get caught up in our quick recap of today’s most important news and expert insights. Login here! (Kitco News) – The upcoming Federal Reserve rate hike, which has pushed the U.S. dollar to a near […]]]>

Editor’s Note: With so much market volatility, keep up with the daily news! In just a few minutes, get caught up in our quick recap of today’s most important news and expert insights. Login here!

(Kitco News) – The upcoming Federal Reserve rate hike, which has pushed the U.S. dollar to a near 20-year high, is prompting gold investors to scale back their bullish stance, according to the latest trading data from the Commodity Futures Trading Commission.

Analysts have noted that the Federal Reserve’s plan to aggressively tighten monetary policy to counter the growing threat of inflation poses a significant headwind for gold. Not only is the US dollar hitting long-term resistance levels, but bond yields are within striking distance of 3%, their highest level since 2018.

However, many analysts have also noted that gold has historically hit a long-term low ahead of a new wandering cycle.

Ole Hansen, head of commodity strategy at Saxo Bank, described current gold price developments as a “dangerous market”.

“Gold investors just need to get through Wednesday’s FOMC meeting to find some fresh momentum,” he said.

The CFTC’s disaggregated Commitments of Traders report for the week ended April 26 showed that money managers reduced their gross speculative long position in Comex gold futures by 19,345 contracts to 138,215. At the same time, short positions increased by just 804 contracts to 57,098.

Gold’s net length now stands at 81,117 contracts, down almost 20% from the previous week. Gold’s net length is currently at a three-month low. During the survey period, gold prices tested the support at $1,900 an ounce.




Since then, gold has continued to struggle as the market fell almost 3% on Monday. Although gold is struggling to attract bullish momentum, some analysts are noting that the market is still relatively healthy as money managers hesitate to take significant bearish bets.

Phillip Streible, chief market strategist at Blue Line Futures, said he views the sell-off in gold as the last capitulation move ahead of the Federal Reserve policy meeting.

However, other analysts see further weakness for gold.

“Given that high food and energy prices will persist for a significant period of time and inflation is entrenched in the economy, it is highly likely that the Federal Reserve will continue to issue very hawkish policy signals for a while. This means that any rally, like that of the past few days, can have a finite lifespan and long liquidations well into the second half of the year can be a fact,” said analysts at TD Securities.

Investors aren’t just exiting the futures market. Daniel Briesemann, precious metals analyst at Commerzbank, noted that global gold-backed exchange-traded funds have seen outflows over the past week, ending a 14-week winning streak.

“The withdrawal of both groups of investors has likely weighed on gold prices and accordingly contributed to lower prices,” he said in a statement on Monday.

Along with gold, silver is also struggling as hedge funds react to the upcoming Federal Reserve rate hike.

The disaggregated report showed that money-managed gross speculative long positions in Comex silver futures fell by 12,614 contracts to 44,689. At the same time, short positions decreased by 1,706 contracts to 18,291.

Silver’s net length stands at 26,398 contracts, down 34% from the previous week. Silver prices were under continued selling pressure during the survey period as prices fell below $24 an ounce. The market continued to lose ground as prices fell below $23 an ounce.

Silver is struggling not only as a currency metal, but also in industrial demand. The growing threat of a global economic slowdown is weighing on base metals. According to last week’s report, hedge funds have significantly reduced their exposure to copper. Analysts have said China’s economy is slowing due to its COVID-19 lockdowns.

“While infrastructure-focused stimulus provides strong tailwinds for commodity demand going forward, traders’ attention remains on the interim spate of metal shipments into LME warehouses, which continues to weigh on prices,” said commodity analysts at TD Securities.

Copper’s disaggregated report showed that money-managed gross speculative long positions in high-grade Comex copper futures declined 11,101 contracts to 58,010. At the same time, short positions increased by 11,411 contracts to 56,433.

Copper’s net length fell to 1,577 contracts, down 93% from the previous week. During the survey period, copper prices tested fresh support at $4.40 a pound.




Disclaimer: The views expressed in this article are those of the author and may not reflect those of the author Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not an invitation to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article assume no responsibility for any loss and/or damage resulting from the use of this publication.

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Gold, Silver Prices Drop Slightly – The Himalayan Times – Nepal’s #1 English Daily https://silveracce365.com/gold-silver-prices-drop-slightly-the-himalayan-times-nepals-1-english-daily/ Sun, 01 May 2022 06:23:16 +0000 https://silveracce365.com/gold-silver-prices-drop-slightly-the-himalayan-times-nepals-1-english-daily/ KATHMANDU, APRIL 30 The price of precious metals declined in the trading week between April 24th and 29th. On the domestic market, gold fell by 1,700 rupees per tola, while silver fell by 40 rupees per tola in the week under review. According to the Federation of Nepal Gold and Silver Dealers Association (FeNeGoSiDA) price […]]]>

KATHMANDU, APRIL 30

The price of precious metals declined in the trading week between April 24th and 29th.

On the domestic market, gold fell by 1,700 rupees per tola, while silver fell by 40 rupees per tola in the week under review.

According to the Federation of Nepal Gold and Silver Dealers Association (FeNeGoSiDA) price list, gold was priced at Rs 100,500 per tola when the market opened for trading on Sunday. The price of the yellow precious metal fell by 300 rupees per tola to 100,200 rupees per tola on Monday. Gold prices fell to 99,300 rupees per tola on Tuesday and 99,000 rupees per tola on Wednesday. The yellow metal fell to Rs 98,000 a tola on Thursday.

On Friday, however, it recouped some of its earlier losses. The yellow metal price rose by Rs 1,200 per tola to close the week at Rs 99,200 per tola on the last trading day. Similarly, silver was trading at Rs 1,360 a tola on Sunday.

Its price fell by 10 rupees per tola to 1,350 rupees per tola on Monday according to FeNe-GoSiDA and remained unchanged the next day. The gray metal’s price moved south for the remainder of the week. It fell by 10 rupees a tola to 1,340 rupees a tola on Wednesday and by 20 rupees a tola to 1,320 rupees a tola on Thursday. The gray metal price was unchanged on Friday.

Gold prices rallied a percent on Friday after the dollar slipped, according to Reuters, but the metal was expected to end the month lower on bets that the US Federal Reserve would aggressively tighten monetary policy.

Spot gold was up 0.9 percent to $1,911.14 an ounce by 1752 GMT. However, it was on track to post a 1.4 percent decline in April, its first monthly decline since January. US gold futures rose 1.1 percent to $1,911.70 an ounce. The dollar index fell 0.7 percent after hitting a 20-year high on Thursday, making gold less expensive for those who hold other currencies, Reuters reported.

A version of this article will appear in the print edition of The Himalayan Times on May 1, 2022.

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Why Most Investors Will Miss Out On The Uptrend In Silver – Part 1 https://silveracce365.com/why-most-investors-will-miss-out-on-the-uptrend-in-silver-part-1/ Fri, 29 Apr 2022 13:55:00 +0000 https://silveracce365.com/why-most-investors-will-miss-out-on-the-uptrend-in-silver-part-1/ Serhii Tychynskyi/iStock via Getty Images By David Smith As silver breaks out on good volume above $30 – initially confirmed by multiple closes above that price (an event I believe will happen this year) – the number of investors (as opposed to speculators) will do so begin to shrink immediately. This will continue to take […]]]>

Serhii Tychynskyi/iStock via Getty Images

By David Smith

As silver breaks out on good volume above $30 – initially confirmed by multiple closes above that price (an event I believe will happen this year) – the number of investors (as opposed to speculators) will do so begin to shrink immediately.

This will continue to take place as the price works its way up towards $50 and accelerates to new all-time highs over the next 12-18 months, towards the magnetic target of $100 an ounce… For starters?

The probability and the reasons for it are the focus of this essay.

“Take clean profits” after holding/replenishing a position for so long. There’s nothing wrong with taking some money off the table, especially in $45-$55 silver, but if you believe (like me) that a literal once in a lifetime opportunity awaits us in gold, the miners and silver in particular, then be careful not to take too much lest you ride the wave with a position size much smaller than you are were willing to risk at lower levels.

Just as you should buy in tranches (portions), you should discipline yourself to, as Stewart Thomson is fond of saying, “sell less than is reasonable”.

“Recency Bias”. “Silver has failed before, either in the high 20’s or around $50, and this time will be no different. ‘Da boyz’ will always be ‘Masters of the Universe’ in this arena. The price will never break out unless they choose to let it.” (Except for the old saw: “You’re always right until you’re not anymore.”)

“Expert” recruiter. Selling behavior is based almost entirely on technical “resistance” levels, be they horizontal resistance/support (HSR) or any type of chart-induced technical formation such as triangles, head and shoulder tops, resistance fan lines, “overbought” signals.

And don’t forget “bikes” and “free rides”.

A runaway market is rare, but when they do occur, or when it’s simply a matter of strong momentum, most technical microanalysis, including “overbought/oversold” water witch assumptions, are better used as a tactic rather than a strategy .

Like many of you, I experienced this up close, in person, and at staggering speed during the 6-month out-of-pit silver and miners blast from late 2015 into June 2016. “Overhead resistance levels” slowed the bullish storm for just a day or two … if at all, before new intermediate highs were reached It went on like this for almost 6 months!

My guess on the back of the napkin is that less than 20% of those with positions in this market have actually taken almost 50% of the profits available. And the rest? Not (almost) that much.

To add insult to injury, the resulting spike was not a surge but a roll-over, allowing reasonably competent investors to convert 30-50% of their gains into a willing crowd of new buyers.

Unbelievable that “everything is different this time”. Folks, I don’t care if you’ve held and added gold and silver for years and that we were all wrong about “the great breakout.” By any rational measurement, even the most rudimentary fundamental analysis, the time will come when silver – along with all other metals – will continue to trade with such grossly distorted price-value metrics.

The market will not drop a starting flag for you. What if we’re not just “three feet from gold”? but three inches? If, not if, this event takes place, it will be a once-in-a-lifetime deal. No second chance for you.

Silver’s (“repulsive”) tendency to underperform gold. Historically, this was the way to bet, but sometimes silver gets a bit mouthy and decides to “do his thing”. Not to mention that in 1979-80 both gold and silver took turns on the price bar while the other stayed quiet for a few days or even weeks.

Plus the way it likes to “break support” and be rejected by resistance line patterns before you do the exact opposite.

Experience shows that when an impulse section gets underway, the predictive ability of most chart data points loses value, often for weeks – even months. If “animal spirits” then appear, anything is possible. It is best to follow the tried and tested motto “Be right. And sit tight.”

Counterparty risk: Most reading this will understand that having your gold and silver in an “unallocated” account means there is another layer of accountability between you and your gold. But what if it’s supposedly “assigned” – held on your behalf?

What if your “allocated” silver isn’t deposited as part of a real storage arrangement or doesn’t actually exist (although you will be charged for insurance and storage)? And what happens if the counterparty goes bankrupt?

And don’t think that this risk only applies to “the little ones”. I would suggest (as David Morgan has been discussing publicly since late last year) that it is likely that some large metals clients who assume their silver is actually being stored on their behalf could prove to be “bag holders”.

A few years ago, a large banking house lost a case precisely for cheating its customers in this way.

As a variation on the theme, there is already precedent for bank “buy-ins” – where a troubled bank takes a large chunk of customer funds to solve its own financial missteps.

We can now “have an advantage”

As Stanley Druckenmiller, one of the world’s largest investors, puts it, “If you know you have an advantage, take advantage.”

If you believe, as I do, that we are on the verge of developing a cutting edge this fine and very sharp, isn’t it time to ‘expand’ that advantage as well?

Original post

Editor’s note: The summary bullet points for this article were selected by Seeking Alpha editors.

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Fed policy meeting crucial for further direction for precious metals: MOFSL https://silveracce365.com/fed-policy-meeting-crucial-for-further-direction-for-precious-metals-mofsl/ Wed, 27 Apr 2022 17:29:58 +0000 https://silveracce365.com/fed-policy-meeting-crucial-for-further-direction-for-precious-metals-mofsl/ Business oi-Roshni Agarwal | Published: Wednesday 27 April 2022 22:59 [IST] For the precious metals, including gold and silver, 2021 was a poor year with negative returns of over 6% for both metals. However, on a YTD basis, gold and silver have posted gains of 7% and 5% respectively amid a number of factors including […]]]>

Business

oi-Roshni Agarwal

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For the precious metals, including gold and silver, 2021 was a poor year with negative returns of over 6% for both metals. However, on a YTD basis, gold and silver have posted gains of 7% and 5% respectively amid a number of factors including geopolitical tensions, inflation concerns.

Fed policy meeting crucial for further direction for precious metals: MOFSL

Fed policy meeting crucial for further direction for precious metals: MOFSL

While both of the above concerns will support gold price gains on the downside, according to Motilal Owal, “Next quarter’s Fed meeting will be very important in assessing further direction for the metal”.

Gold and Silver Price Outlook on the Comex and Domestic Markets for a 12 month period

On the Comex, gold is expected to trade in the $1,800-$2,050 range on a 12-month perspective. In the domestic markets the price. Speaking for domestic markets, the broker said: “On the domestic front, prices could trade in a wide range with critical support at Rs 50,000 followed by Rs 48,000 and 46,500 while rallies up towards Rs 55,000 would present opportunities for long positions leaving. Similarly, silver prices on the COMEX are expected to trade higher towards $26.45 and $27.15 with strong support at $24.20 and $23.70. With the buy strategy on dips, the Comex rally could extend past $30 over the next 12 months.”

Silver, which broadly trailed gold, was also trading at limited gains given the volatility of base metals, MOFSL noted. And since the beginning of the year, it has been trading in a wide range, giving hope for a bullish comeback.

Silver ETFs are seeing good inflows year-to-date versus outflows last year

Year-to-date versus silver ETF outflows. They started the year with decent inflows of around 16603 tons and now stand at 17975 tons. “Demand from the renewable sector could also pick up. The whole story around decarbonization in the COP26 and the whole ESG transition taking place in the economy will boost the demand for green technologies,” the report adds.

Story first published: Wednesday, April 27, 2022 at 10:59 pm [IST]

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