Ed Steer
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Articles by Ed Steer
Precious Metal Stocks Up Big On the Week
by Ed Steer, Silver Seek: Gold’s rally attempt in the first hour or so of Globex trading in New York on Thursday evening wasn’t allowed to get far — and it was then sold/engineered lower until around noon in Shanghai on their Friday. It then rallied a bit starting about 3:35 p.m. CST — and that rally attempt was capped at 9 a.m. in London.
Precious Metal Stocks Up Big On the Week
Gold's rally attempt in the first hour or so of Globex trading in New York on Thursday evening wasn't allowed to get far -- and it was then sold/engineered lower until around noon in Shanghai on their Friday. It then rallied a bit starting about 3:35 p.m. CST -- and that rally attempt was capped at 9 a.m. in London. It then had a very broad down/up move centered around the 9:30 a.m. opens of the equity markets in New York -- and ending at precisely 2 p.m. in after-hours trading.
The COMEX Silver Drain Continues
by Ed Steer, Silver Seek: Gold’s impressive rally that began right at 6:00 p.m. in New York on Thursday evening, ran into not-for-profit selling by the collusive commercial traders of whatever stripe at 1:37 p.m. China Standard Time on their Friday afternoon, shortly after it broke above $4,200 spot — and was then sold/engineered lower until around 8:55 a.m. in COMEX trading in New York.
The COMEX Silver Drain Continues
Gold's impressive rally that began right at 6:00 p.m. in New York on Thursday evening, ran into not-for-profit selling by the collusive commercial traders of whatever stripe at 1:37 p.m. China Standard Time on their Friday afternoon, shortly after it broke above $4,200 spot -- and was then sold/engineered lower until around 8:55 a.m. in COMEX trading in New York.
Ed Steer: Huge Deliveries For October on First Day Notice
1+ million gold ounces Nearly 10 million silver ounces “First Day Notice for the October delivery month showed that an eye-watering 10,247 gold, plus 1,957 silver contracts were posted for delivery within the COMEX-approved depositories on the U.S. coast on Thursday.” https://edsteergoldsilver.com/ About the author SUBSCRIBE: https://edsteergoldsilver.com/ Ed Steer’s Daily Analysis of the Gold and Silver Markets After eight years of writing about the precious metals for Casey Research, the...
The Precious Metal Equities Get Smashed Again
by Ed Steer, Silver Seek: The gold price began to rally a bit in the hour leading up to the Shanghai open on their Friday morning, but was then sold/engineered lower until noon China Standard Time…with its ensuing rally getting capped at the 2:15 p.m. afternoon gold fix over there. It was then sold quietly lower until a vicious down/up spike took place when the CPI number hit the tape.
The Precious Metal Equities Get Smashed Again
by Ed Steer, Silver Seek: The gold price began to rally a bit in the hour leading up to the Shanghai open on their Friday morning, but was then sold/engineered lower until noon China Standard Time…with its ensuing rally getting capped at the 2:15 p.m. afternoon gold fix over there. It was then sold quietly lower until a vicious down/up spike took place when the CPI number hit the tape.
The Precious Metal Equities Get Smashed Again
The gold price began to rally a bit in the hour leading up to the Shanghai open on their Friday morning, but was then sold/engineered lower until noon China Standard Time...with its ensuing rally getting capped at the 2:15 p.m. afternoon gold fix over there. It was then sold quietly lower until a vicious down/up spike took place when the CPI number hit the tape. Its boomer rally was capped at 9 a.m. -- and its high tick was set at the 10 a.m. EDT afternoon gold fix in London.
Sphere Digital Recruitment Announces Four Senior Promotions Following Record Growth
Sphere Digital Recruitment Group has announced four senior promotions across its executive l... Sphere Digital Recruitment Group has announced four senior promotions across its executive leadership team, reflecting the company’s record-breaking commercial performance and continued investment in its people. Holly Simpson has been promoted to Managing Director, Permanent Recruitment. Holly joined Sphere as a graduate and has spent the past 13 years helping to build the business.
Silver & Gold Stocks Up 20+ Percent On the Week
The gold price began to head higher the moment that the markets opened in Shanghai on their Friday morning -- and that state of affairs was allowed to last until it rolled over a bit starting at the noon silver fix in London. It then went vertical on the ugly non-farm payroll number at 8:30 a.m. EDT -- and only took 'da boyz' fifteen minutes to get that under control.
Bessent Note at Camp David Proves “The End is Nigh”
by Ed Steer, Silver Seek: Reader Brad Robertson sent me this OpEd piece from the halturnerradioshow.com Internet site that was posted there on Sunday morning EDT — and linked here. It’s so important that I didn’t think I should wait until Tuesday column to post it…so here it is now. Whether this scenario unfolds quickly over the next few days…or over the next few weeks or months…is unknown…but doesn’t really matter at this stage of the world’s 50+ year experiment with fiat currencies.
Bessent Note at Camp David Proves "The End is Nigh"
*************************** Reader Brad Robertson sent me this OpEd piece from the halturnerradioshow.com Internet site that was posted there on Sunday morning EDT -- and linked here. It's so important that I didn't think I should wait until Tuesday column to post it...so here it is now. Whether this scenario unfolds quickly over the next few days...or over the next few weeks or months...is unknown...but doesn't really matter at this stage of the world's 50+ year experiment with fiat currencies.
Tucker Carlson Says House Vote to Merge U.S. Military With IDF Is a HUMILIATION Ritual
Tucker Carlson Says House Vote to Merge U.S. Military With IDF Is a HUMILIATION Ritual A $1.5 TRILLION military just handed itself to a foreign reserve force, and the men who voted for it call themselves America First. pic.twitter.com/NMEzVon4IF — Ryan Rozbiani (@RyanRozbiani) July 23, 2026
Insiders Are Betting Millions On Gold Reset By Year-End | Ed Steer
Insiders Are Betting Millions On Gold Reset By Year-End | Ed Steer
Looking for a Sign Gold Has Bottomed? I Have One.
by Mish Shedlock, Mish Talk: Today’s action is different. And different is good. Since March, gold has struggled with rising oil prices, rising bond yields or rising rate hike expectatons. But here we are with the 30-year long bond on the verge of a major breakout, and rate hike expectations rising, yet the price of gold and silver are up anyway.
Yet Another 'Nothingburger' COT Report
The gold price was forced to chop quietly sideways to a tad lower in Globex trading in New York on Thursday evening -- and until the 2:15 p.m. afternoon gold fix in Shanghai. It was then sold/engineered quietly lower until its spike low tick was set around 10:35 a.m. in COMEX trading in New York. Its ensuing rally ran into 'something' at 12:30 p.m. -- and it was sold a bit lower until 3 p.m. in after-hours trading. It then rallied rather smartly until the market closed at 5:00 p.m. EDT.
The Big 8 Shorts Get Stuffed Again
by Ed Steer, Silver Seek: The gold price was engineered two steps lower shortly after the Globex open at 6:00 p.m. in New York on Thursday evening…setting is low tick at 10:57 a.m. in Shanghai on their Friday morning. Its ensuing rally attempt was allowed to last until around 10:20 a.m. in COMEX trading in New York. It hung in at that price until 12:30 p.m. EDT — and then was sold/engineered quietly lower until minutes after 3 p.m. in after-hours trading.
The Big 8 Shorts Get Stuffed Again
The gold price was engineered two steps lower shortly after the Globex open at 6:00 p.m. in New York on Thursday evening...setting is low tick at 10:57 a.m. in Shanghai on their Friday morning. Its ensuing rally attempt was allowed to last until around 10:20 a.m. in COMEX trading in New York. It hung in at that price until 12:30 p.m. EDT -- and then was sold/engineered quietly lower until minutes after 3 p.m. in after-hours trading.
A Disappointing, But Stunning COT Report!
All of gold's rally attempts in Globex trading overseas were turned lower -- and it wasn't until about 10:50 a.m. in COMEX trading in New York that it was finally allowed to rally above the unchanged mark and more or less stayed there. But even then, it's three ticks higher after that were all tapped lower. The low and high ticks in gold were recorded by the CME Group as $4,191.10 and $4,267.80 in the August contract...an intraday move of $76.70 an ounce.
A Brutal Bear Raid: Gold's 200-Day Moving Average Falls
The price pressure in gold commenced about an hour after Globex trading began at 6:00 p.m. in New York on Thursday evening -- and that didn't end until around the 2:15 p.m. afternoon gold fix in Shanghai on their Friday afternoon. It rallied a bit until around 8:30 a.m. in London -- and then traded pretty flat until five minutes after the 8:20 a.m. COMEX open. 'Da boyz' showed up even before the 8:30 a.m. non-farm payroll report came out.
A Huge Drop in the Commercial Net Short Position in Gold
by Ed Steer, Silver Seek: Gold was under quiet and somewhat uneven price pressure starting right at the Globex open in New York on Thursday evening — and that lasted until around noon in London on their Friday. It chopped a bit higher from that point until the collusive commercial traders of whatever stripe put in an appearance around 9:10 a.m. in COMEX trading in New York — and it was then sold/ engineered lower anew until 10:25 a.m. EDT.
A Huge Drop in the Commercial Net Short Position in Gold
Gold was under quiet and somewhat uneven price pressure starting right at the Globex open in New York on Thursday evening -- and that lasted until around noon in London on their Friday. It chopped a bit higher from that point until the collusive commercial traders of whatever stripe put in an appearance around 9:10 a.m. in COMEX trading in New York -- and it was then sold/ engineered lower anew until 10:25 a.m. EDT.
The Silver Stocks Big Rally Crushed Immediately
by Ed Steer, Silver Seek: Gold’s initial choppy rally in early Globex trading ended minutes after 10 a.m. in Shanghai — and it then chopped sideways until shortly before London opened. It was then forced to chop lower until the COMEX open in New York. Its rally attempt from that point was capped at the 10 a.m. EDT afternoon gold fix in London — and it was then engineered lower in price until minutes before 12 o’clock noon EDT.
The Silver Stocks Big Rally Crushed Immediately
Gold's initial choppy rally in early Globex trading ended minutes after 10 a.m. in Shanghai -- and it then chopped sideways until shortly before London opened. It was then forced to chop lower until the COMEX open in New York. Its rally attempt from that point was capped at the 10 a.m. EDT afternoon gold fix in London -- and it was then engineered lower in price until minutes before 12 o'clock noon EDT.
Gold Manipulation: The ‘London Bias’ : 1970-2024
by Ed Steer, Sprott Money: How the London Fix Has Suppressed Gold Prices Since 1975 Back in early March of 2015 I penned an essay with an identical headline… except for the year. It was something I presented at a Casey Research conference in San Antonio, Texas way back then. So, after almost ten years, it’s time for a revisit — and update. [Note: I’d link the original article from the Casey Research website, but it’s no longer active.] Both of the relative charts are simplicity themselves.
Gold Manipulation: The 'London Bias' : 1970-2024
Originally written by Ed Steer on November 4, 2024, this article examines long-standing distortions in gold pricing and the structural imbalance between paper and physical markets. We are reposting it today because the core observations remain highly relevant, particularly the discussion around the “London Bias,” price management between the a.m. and p.m. fixes, and the broader implications for true price discovery.
The Silver Institute Strikes Again -- John Macintosh
NOTE: On Sunday afternoon I received an e-mail from two of my subscribers containing the silver commentary posted below -- and the first one through the door with it was Keith Bronstein. I was able to track down the author of this work, who was kind enough to allow me to post it in the public domain, which is where I thought it belonged, as his in-depth analysis was more than worth sharing. John was a trader in the grain pits on the floor of the CBOT for 40 years.
The Big 8 Commercial Shorts Continue to Cover
by Ed Steer, Silver Seek: The gold price was sold unevenly lower in early Globex trading in New York on Thursday evening — and that lasted until around 10:40 a.m. China Standard Time on their Friday morning. It then had a broad up/down move that ended minutes before 10 a.m. in London — and its ensuing rally ran into ‘da boyz’ a minute or so after 10:30 a.m. in New York. It was then sold/engineered two steps lower until the market closed at 5:00 p.m. EDT.
The Big 8 Commercial Shorts Continue to Cover
The gold price was sold unevenly lower in early Globex trading in New York on Thursday evening -- and that lasted until around 10:40 a.m. China Standard Time on their Friday morning. It then had a broad up/down move that ended minutes before 10 a.m. in London -- and its ensuing rally ran into 'da boyz' a minute or so after 10:30 a.m. in New York. It was then sold/engineered two steps lower until the market closed at 5:00 p.m. EDT.
China & Silver | SGT Report
by Ed Steer, Silver Seek: SPECIAL EDITION 22 March 2026 — Sunday As you should be more than aware of at this point in the game, the silver inventories at the Shanghai Gold and Shanghai Future Exchanges are back to levels not seen since around Q3/2015…which is basically nothing at all. Here’s the latest chart from Nick that shows that. Click to enlarge.
China & Silver
SPECIAL EDITION 22 March 2026 -- Sunday As you should be more than aware of at this point in the game, the silver inventories at the Shanghai Gold and Shanghai Future Exchanges are back to levels not seen since around Q3/2015...which is basically nothing at all. Here's the latest chart from Nick that shows that. Click to enlarge.
China & Silver / Finvestly
Silver Seek SPECIAL EDITION 22 March 2026 — Sunday As you should be more than aware of at this point in the game, the silver inventories at the Shanghai Gold and Shanghai Future Exchanges are back to levels not seen since around Q3/2015…which is basically nothing at all. Here’s the latest chart from Nick that shows that. Click to enlarge.
Gold Joins Silver on the Launchpad
by Ed Steer, Silver Seek: Gold’s rally in early Globex trading in the Far East was capped around 11:15 a.m. China Standard Time on their Friday morning — and from that point it was sold/engineered unevenly lower until they set its low tick around 2:55 p.m. in after-hours trading in New York. It then had a very quiet up/down move until the market closed at 5:00 p.m. EDT.
Gold Joins Silver on the Launchpad
Gold's rally in early Globex trading in the Far East was capped around 11:15 a.m. China Standard Time on their Friday morning -- and from that point it was sold/engineered unevenly lower until they set its low tick around 2:55 p.m. in after-hours trading in New York. It then had a very quiet up/down move until the market closed at 5:00 p.m. EDT. The high and low ticks in gold were reported as $4,738.20 and $4,478.40 in the April contract...an intraday move of $259.80 an ounce.
Gold Joins Silver on the Launchpad
Silver Seek Gold’s rally in early Globex trading in the Far East was capped around 11:15 a.m. China Standard Time on their Friday morning — and from that point it was sold/engineered unevenly lower until they set its low tick around 2:55 p.m. in after-hours trading in New York. It then had a very quiet up/down move until the market closed at 5:00 p.m. EDT. The high and low ticks in gold were reported as $4,738.20 and $4,478.40 in the April contract…an intraday move of $259.80 an ounce.
The Set-Up in Silver: Even More Incandescently White-Hot Bullish
by Ed Steer, Silver Seek: The gold price was forced to wander/chop quietly sideways in Globex trading overseas until around 12:50 p.m. in London on their Friday afternoon. Its ensuing and impressive rally ran into ‘da boyz’ on multiple occasions in COMEX and after-hours trading in New York, but came very close to closing on its high tick of the day. The low and high ticks in gold were recorded by the CME Group as $5,182.90 and $5,299.00 in the April contract…an intraday move of $116.10 an ounce.
The Set-Up in Silver: Even More Incandescently White-Hot Bullish
The gold price was forced to wander/chop quietly sideways in Globex trading overseas until around 12:50 p.m. in London on their Friday afternoon. Its ensuing and impressive rally ran into 'da boyz' on multiple occasions in COMEX and after-hours trading in New York, but came very close to closing on its high tick of the day. The low and high ticks in gold were recorded by the CME Group as $5,182.90 and $5,299.00 in the April contract...an intraday move of $116.10 an ounce.
A Record High Short Position in SLV
SUBSCRIBE: https://edsteergoldsilver.com/ Ed Steer’s Daily Analysis of the Gold and Silver Markets After eight years of writing about the precious metals for Casey Research, the folks at Stansberry & Associates—who just recently purchased controlling interest in the company—decided that my ‘niche market’ column didn’t fit into their plans.
The Empire Strikes Back!
I shan't bother with the play-by-play in any of the four precious metals, as you know perfectly well what happened...as it was a premeditated and coordinated assault by the collusive commercial traders of whatever stripe. I'll get into the ugly details in The Wrap. The high and low ticks in gold were recorded as $5,480.20 and $4,700.40 in the April contract...an intraday move of $779.80 an ounce.
3-Digit Silver: As the World’s ETFs & Funds Puke It
by Ed Steer, Silver Seek: Gold’s rally attempt in early Globex trading was met with resolute selling every time it tried to tick higher — and that lasted until 2 p.m. China Standard Time on their Friday afternoon. It was then engineered lower until its low tick was set around 9:40 a.m. in London. Its ensuing quiet rally was turned sideways at 11:30 a.m. in COMEX trading in New York — and it wasn’t allowed to do much after that.
3-Digit Silver: As the World's ETFs & Funds Puke It
Gold's rally attempt in early Globex trading was met with resolute selling every time it tried to tick higher -- and that lasted until 2 p.m. China Standard Time on their Friday afternoon. It was then engineered lower until its low tick was set around 9:40 a.m. in London. Its ensuing quiet rally was turned sideways at 11:30 a.m. in COMEX trading in New York -- and it wasn't allowed to do much after that.
Creating Risk: SLV...the COMEX and FanDuel -- Keith Bronstein
After reading my Saturday column, I received an e-mail from a long-time subscriber...Keith Bronstein. Keith served as Chairman of the Business Conduct Committee -- and as a Governor of the Clearing Corporation on the Chicago Board of Trade way back when. For that reason, his insights into the innards of the paper trading system on the COMEX and NYMEX far exceeds mine -- and mostly likely yours as well. We had an e-mail exchange over the weekend -- and here it is...word-for-word....
What the East Giveth, the West Taketh Away...Again
The gold price stair-stepped its way broadly higher at an ever-decreasing rate until the collusive commercial short stepped in five minutes before the 8:20 a.m. COMEX open New York...the moment it broke above $4,400 spot...setting its engineered low tick about fifteen minutes after the 1:30 p.m. COMEX close. It was allowed to crawl a bit higher from that point until trading ended at 5:00 p.m. EST.
Six U.S. Banks Hold over $1-TRILLION Dollars in Precious Metals Derivatives
by Ed Steer, Silver Seek: And as I also mentioned in Saturday’s column, the Office of the Comptroller of the Currency updated their derivatives data for Q3/2025.
Six U.S. Banks Hold over $1-TRILLION Dollars in Precious Metals Derivatives
And as I also mentioned in Saturday's column, the Office of the Comptroller of the Currency updated their derivatives data for Q3/2025. I said I would have that for you in today's column -- and here it is... The latest OCC Report for Q3/2025 was posted on their website on Friday, December 19 -- and it showed that the precious metal derivatives held by the four largest U.S. banks increased by $137.54 billion/24.4% from Q2/2025...up to $704.05 billion...which is a very hefty amount.
Ted Butler’s “Bonfire” & Terra Incognita
by Ed Steer, Silver Seek: Gold’s boomer rally at the 6:00 p.m. Globex open in New York on Thursday evening was brutally capped at the Shanghai open — and was then engineered lower until around 10:35 a.m. China Standard Time on their Friday morning. It then had a broad and quiet up/down move centered around what looked like the 10:30 a.m. morning gold fix in London — and ending at the noon GMT silver fix.
Ted Butler's "Bonfire" & Terra Incognita
According to Nick Laird's data on his website, a net 2.070 million troy ounces of gold were added to all the world's known depositories, mutual funds and ETFs during the last four weeks. The two largest 'in' amounts were the 1.046 million troy oz. that went into GLD, followed by the 540,100 troy ounces into China's gold ETFs. The largest 'out' amount were the 165,900 troy ounces that left the COMEX.
Silver Closes At a New Nominal Record High
by Ed Steer, Silver Seek: ‘Da boyz’ stepped on the gold price an hour after Globex trading began in New York on Thursday evening — and they set its low tick of the day around 9:45 a.m. China Standard Time on their Friday morning. It then struggled quietly, broadly and unevenly higher from that juncture until it really began to sail starting at 9:45 a.m. in COMEX trading in New York.
Silver Closes At a New Nominal Record High
'Da boyz' stepped on the gold price an hour after Globex trading began in New York on Thursday evening -- and they set its low tick of the day around 9:45 a.m. China Standard Time on their Friday morning. It then struggled quietly, broadly and unevenly higher from that juncture until it really began to sail starting at 9:45 a.m. in COMEX trading in New York.
A Massive and Premeditated Bear Raid
by Ed Steer, Silver Seek: The gold price was edged quietly lower until around 12:30 p.m. China Standard Time on their Friday afternoon — about thirty or so minutes later a quiet and broad rally began that ended abruptly at the 10 a.m. EST afternoon gold fix in London…its high tick of the day. Fifteen minutes later ‘da boyz’ went to work…setting its engineered low tick at 11:45 a.m. EST.
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