Monetary Metals's blog

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They Broke the Silver Fix





On Jan 28, the price of silver flash crashed. This irregularity occurred around the silver fix. The spot price was $14.40 but the fix was $13.58.

 
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Possible Silver U-Turn Report, 7 Feb, 2016





Wow, did the dollar move down this week! It dropped more than it has in quite a while. It fell 1.3mg gold, or 0.1g silver, but what happened to the fundamentals?

 
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Monetary Metals Brief 2016





We have made a contrarian call for a falling silver price and a rising gold to silver ratio for years. This ratio has risen a lot during this time. Are we ready to change our call yet?

 
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Silver Flash in the Pan, Report 10 Jan, 2016





Many were excited on Thursday to see a spike in the silver price. We were not quite so exuberant, and in 13 hours the market took back the entire move and more.

 
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Murphy’s Law of Gold Analysis, Report 3 Jan





This week, the gold-silver ratio promptly moved up +2.3%. As readers will recall, we have been calling for a ratio value over 80 for a while.

 
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Supply and Demand Report 27 Dec, 2015





For a long time, we called for a big drop in the silver price. It stubbornly did not, or when it did drop it soon recovered. In the end, we were right and the silver bulls were wrong.

 
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Another Look at the Gold Price Drop of 6 November





Our previous look at Nov 6 compared spot and futuresThis time, let’s look at gold futures and GLD.

 
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Gold Price Drop of 6 Nov: Drilling Down





The cobasis briefly peaked around 11% (from around 0.5% previously).

 
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A 14 Handle on Silver. Again. 8 Nov, 2015





Last week, we asked if silver would have a 14 handle again. This week, the market answered yes we can! How did we know? By looking at supply and demand.

 
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Hedging in the Gold Miners





For a gold miner with dollar-denominated debt, the right thing to do is to hedge the gold price. It's interesting that at the LBMA conference in Vienna, a panel discussed the epic collapse of hedging. Why?

 
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And Then There Was None (Backwardation) 18 Oct, 2015





The dollar dropped about half a milligram gold, and 50mg silver.

But who wants to read about the universal currency falling, failing? Few people are so barbarous as to think of the dollar’s value as being priced in terms a monetary metal.

 
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Price Moves and Term Structures 20 Sep, 2015





Don't trade yesterday’s news. There was backwardation. However, it's a sensitive indicator and you need an updated picture before buying after a sizeable price move.


 
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Gold, Silver, and Horse Betting Report 13 Sep, 2015





Consider the sport of betting on the sport of horse racing. It’s actually similar to the analysis of the gold and silver markets. How’s that?

 
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Supply and Demand Report 6 Sep, 2015





This was a fairly quiet week in the market for the metals. The price action was elsewhere (e.g. equities and currencies).

 
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The Exquisite Market Setup, 23 Aug





Gold fundamentals are tight, but not so much in silver. According to popular belief, the prices of the metals are supposed to move together. What happens when a trading thesis is believed by just about everyone?

 
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