• Gold: 1,465.73 7.22
  • Silver: 16.96 0.14
  • Euro: 1.101 -0.000
  • USDX: 98.362 0.035
  • Oil: 56.4 -0.4

COMEX Silver Inventory Update: -171,623.212 ounces

COMEX Silver Inventory Update: -171,623.212 ounces

Europe in Focus

Over the weekend, the European political/economic conflagration worsened further, with the Spanish Prime Minister forced to re-assure the populace on national TV that “this is not the eve of the Apocalypse” – which it is, of course, from a financial standpoint. European equities were flat to down, although Spain and Italy enjoyed a brief respite by BEGGING the EU to create some cockamamie “governing board” to take over their finances. It will never happen, but allowed those two markets mild dead-cat bounces. Following Friday’s major PM up day, prices have been holding their own all day with the Dow down yet again – particularly gold, now just $6 from its Friday close. With Wednesday’s ECB meeting and Bernanke’s Thursday speech before a Joint Congressional Economic Committee about the near-term outlook, be prepared for ANYTHING this week.

iShares Silver Trust: 9,643.17 tonnes

iShares Silver Trust: 9,643.17 tonnes

COMEX Silver Inventory Update: +701,261.561 ounces

COMEX Silver Inventory Update: +701,261.561 ounces

Ranting Andy on Silver

June 1, 2012 will be remembered as a watershed day. “Cartel Rule #1” was already broken on Wednesday – i.e., “thou shalt not let PMs rise when the Dow plunges,” and nearly was yesterday as well, until they viciously ATTACKED PMs and GOOSED the “Dow Jones Propaganda Average” at midday. But today – with European markets already in freefall, the BLS published its third straight catastrophic NFP employment report.

SilverSeek.com May Traffic: 133,092 Unique...

SilverSeek.com Website Traffic Report*: May 1 - 31, 2012: •Unique Visitors: 133,092 •Visits: 297,016 •Page Views: 1,186,311

iShares Silver Trust: 9,643.17 tonnes

iShares Silver Trust: 9,643.17 tonnes

COMEX Silver Inventory Update: +528,970.137 ounces

COMEX Silver Inventory Update: +528,970.137 ounces

iShares Silver Trust: +24.14 tonnes

iShares Silver Trust: +24.14 tonnes

Gold & Silver breaking away from the euro

As the Eurozone crisis decayed another notch the relationship of precious metals to the euro appears to be fracturing. As the euro continues to fall further, reflecting an Eurozone crisis [not just Spain Greece and Italy], gold and silver prices rose strongly in the euro and slightly in the U.S. dollar.