For the time being, the silver market has de-linked somewhat from its industrial commodity standing and instead the silver market has hitched its wagon to gold and the prospect of additional US easing. However, silver is also drafting some spillover safe haven buying from gold, but safe haven buying of silver has historically been suspect. Continue Reading…

Surprisingly July silver has spent the majority of the overnight action trading above the prior session’s closing level. Silver appears to have seen some technical short covering action in the wake of the better than expected US data yesterday morning and therefore the bull camp probably needs to see additional positive readings from the US economic report slate today jut to throw off more of the rather surprising May slide in silver prices of $4.60 cents an ounce. Continue Reading…

Not surprisingly July silver has followed gold and other physical commodity prices down in the wake of a chorus of predictions that Greece will exit the Euro zone. Another element that is keeping up the pressure on silver and other physical commodity markets is the fear that either Spain or Italy could be poised for another bout of financial instability directly ahead. Continue Reading…

Like gold, July silver managed another fresh new low for the move but silver prices have managed to claw back above the prior session’s lows in the wake of a minor improvement in global sentiment. Continue Reading…

While July silver hasn’t seen as big of a range down washout as gold prices in the early Monday US trade action, it has reached down to the lowest levels since December 30th of 2011. Clearly a broad based fear of global slowing is being factored into prices but that fear of slowing is coming from the Euro zone, China and the US and therefore it is not surprising to see such significant losses on the charts. Continue Reading…

Hedge funds and other large investors cut bullish bets on rising commodity prices by the most since November as risk-off sentiment in the wake of the Greek election eased the appetite for higher risk assets. Continue Reading…

Gold is reaching a key pivot point that will dictate its medium to long-term technical outlook (and probably for macro markets as well). USD1,522 represents a crucial support for two Elliott Wave counts. Holding as support will be bullish evidence but breaking will shift the probabilities in favour of our preferred scenario: a fall towards USD1,200. Continue Reading…

Like gold, the silver market is once again facing a patently negative global macro economic environment. With both Chinese and Indian economic news overnight disappointing, it is clear that the deflationary crowd remains in the driver’s seat. Continue Reading…

A big range down extension in July silver puts the market down to the lowest level since January 9th. While the July silver contract filled an old gap with the slide overnight, the overall macro economic outlook doesn’t look to provide any support to silver prices in the near term. Continue Reading…

Like gold, the silver market has forged yet another lower low and in the process the July silver contract has reached down to the lowest level since January 10th. With weakness in copper and platinum prices, more declines in equities and adverse currency market action, the outside market forces clearly favor the bear track. Continue Reading…