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LATEST NEWS ABOUT SILVER PRICES AND MARKETS

Friday, April 20, 2012

The Other Side Of The Gold And Silver Coin | ZeroHedge

We have long-discussed the currency debasement, fiat-fiasco thesis for owning hard assets and only last night noted the discussion between Biderman and Sprott on the practicalities of this plan. What we found interesting was this week we have seen a number of quite bearish articles on the precious metals - most notably Bloomberg's chart-of-the-day has had two notes citing inventory build for Silver's imminent demise and lagging futures open interest as a sign of investor's losing conviction in gold. Given that we are fair-and-balanced we thought it worth sharing these technical insights and perhaps reflecting on what Eric Sprott noted (and Dylan Grice has previously highlighted) as the only thing that could break his 'hard asset' thesis - that the political and banker elite "come to their financial senses".

4/18/12. Silver-Inventory Surge Means Decline In Prices

The Other Side Of The Gold And Silver Coin | ZeroHedge

Silver Seen Over $40/oz in 2012 – Store of Value Remains Undervalued | ZeroHedge

Gold rose $1.50 or 0.09% in New York and closed at $1,640.80/oz yesterday. Gold traded sideways in a narrow spread in Asia and continued this in European trading climbing up around 0.16%. 
Gold rose quickly from $1,631/oz to nearly $1,650/oz in minutes on volume with some chunky 3000 lot plus batches of orders going through on the COMEX pushing gold up. A determined seller again appeared and gains were capped at that level.
Gold is still firmly within a $27 trading range it has stuck to for most of the week. It is gold’s narrowest range since March last year according to Jan Harvey of Reuters. Once gold breaks out of this range it will likely see sharp follow through moves up or down.  
Gold should be supported by deepening concerns about continuing poor US economic data and the eurozone debt crisis – Spain’s 10 year rose above 6% again today. However, the lack of direction and price weakness has seen weak hands flushed out of the market and has made prospective traders and investors nervous regarding buying. 
Some astute store of wealth buyers continue to buy (gold and especially silver bullion) on the dip but physical demand remains subdued in western markets as both speculators and some investors seek clarity regarding price direction.

Silver Seen Over $40/oz in 2012 – Store of Value Remains Undervalued | ZeroHedge

Central Bank Gold Purchases to Remain High, Says Barclays - International Business Times

Central Bank Gold Purchases to Remain High, Says Barclays - International Business Times


There is unlikely to be a “slowing down” of gold buying by central banks as significant economic uncertainty remains for the foreseeable future – according to Jon Spall, director of precious metals sales at Barclays.
In an interview with the Wall Street Journal, Spall discussed his outlook for the gold market in light of the weakness it has experienced in recent months.  Highlights from the interview included:
Gold prices seem to have stabilized a bit this year after last year’s bull run. How do you see the metal performing this year?

Silver Enjoys Record 2011, Optimism For 2012 - International Business Times

Silver Enjoys Record 2011, Optimism For 2012 - International Business Times


April 19, 2012 9:02 AM EDT
Silver enjoyed a record 2011, as investors turned to physical bars and coins of the precious metal to piggyback on a strong year for gold, according to The Silver Institute's World Silver Survey 2012 released on Thursday.

Blanch Says U.S. Fiscal Woes Will Push Up Gold

Blanch Says U.S. Fiscal Woes Will Push Up Gold

APMEX Market Commentary 04-20-2012 | Gold & Silver Market Reports, News and Commentary

APMEX Market Commentary 04-20-2012 | Gold & Silver Market Reports, News and Commentary

Silver Technical Precious Metals (2012-04-20) - NASDAQ.com

Silver Technical Precious Metals (2012-04-20) - NASDAQ.com

Morning Report Silver continues to trade within the sideway range between the resistance of 33.15 and the support of 31.25 since the 14th of March. But, the thing that pulls our attention that the support level of the sideway range was able to stop all the bearish attempts.

Read more: http://community.nasdaq.com/News/2012-04/silver-technical-precious-metals-20120420.aspx?storyid=135194#ixzz1sZGkAC5Z

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