The one month, two month, three month and the one year silver lease rates are up once again. The silver price is being squeezed from several directions. The banks do not have the silver to cover, over 1,200,000 ounces of silver was delivered to the COMEX with the Bank of Nova Scotia taking most of it, the ability of London and NY to keep the PM prices depressed is waning and the supply demand continues with a substantial deficit.

Today gold closed up $7.40 at $565.90 and silver closed up .18 at $9.75.

Silver was up as much as .16 at $9.91 and within two hours had been taken back down to even at $9.75.

During the past 10 minutes the price of silver has returned to $9.83.

This is very unusual for a tuesday. Gold closed up $4.80 at $570.70 and silver closed up .08 at $9.83

When the NY market opened gold was up $2.40 at $571.90 and silver up .09 at $9.85. After 20 minutes gold was up $3.70 and silver was up .11.

Once again all five of the silver lease forward rates have increased. This squeezes out any attempt by the silver shorts to roll over contracts. If this situation holds the paper players stand to lose many millions of dollars.

one month----2.1%---up .30
two month----2.5%---up .40
three month--2.7%---up .30
six month----3.3%---up .40
one year-----4.1%---up .50

Gold and silver took a hit today with gold losing $5.10 and silver losing .11. After the drop today gold is still up $8.60 for the week and silver closed up .14. The gold to silver ratio is 58.4 to 1.

Eratic movements in the price of silver have been going on for at least three years. This is why I pay close attention to the friday closing prices and very little to the changes during the week. I have gone back two years to 2-20-04 and during that time silver has increased in price 62 times and decreased 34 times. But if you go back about six months to 8-26-05 you will find that silver has gone up 19 times and down only four times. These are based on the closing prices on friday.

Hi popeye I'm from thew stockspot board.Could you give me your opinion on AGT for the short to mid term investment time frames.TIA

Gold closed up $3.10 today after being up $7.40 earlier in the session. Silver closed up .01 after being up as much as .19.

Cooldad, great to see you here.  Apollo is a little tough to figure out.  I am familiar with the company and they are producing but the management needs to start mining around some of the rich assay areas.  The company has a net loss of about $20,000,000 per year over the past two years but have come up with some assays that should open someones eyes.  The balance sheet looks ok but I wonder where the financing will come from if production is not increased.  I would hope that it would not be in the selling of shares which are now at about 110,000,000.

Assay readings of 3.20 and 3.10 oz per not are not good they are fantastic.  If these readings are valid I would hang in and watch the production and outstanding shares.

Another very interesting item:  A Japanese company apparently  purchased warrants at .35and on the same day exeercised those 11,650,000 warrants to give the Japanese company a totlal of  21,650,000 common shares.

Cooldad, I forgot to mention that I believe that four members of management are being booted with severance payments between $150,000 and $200,000.  I am not sure about the amount but this should be a plus and appears to be reflecting well in the price of the stock.

popeye thanks for your input.I will keep a sharp eye for the points you made.Thanks again

Once again the NY metals market is on an all out war against the rise in the PM prices. At the opening the price of gold was $566.30 and has now dropped to $556.90 and still dropping. The price of silver was $9.71 and now has dropped .31 to $9.40. This is only an hour and 30 minutes into the session.

Today gold closed down $19.50 at $550.70 and silver closed down .38 at $9.34

Gold and silver made a come back in Japan last night and held about even throughout the Far East and Europe.  Gold was up $7.60 at $557.70 and silver was up .11 at $9.51 when the US market opened.  The rise appears to be continuing as gold is now up $9.20 and silver is now up .18.