Louis and I from the Smaulgld discussed the gold and silver markets yesterday. Below are some charts and commentary that follow the discussion in the order of the podcast. Please have a listen and take a look below.
Silver Supply and Demand
Silver Mining Production Increases In 2015
Rory and I discussed reports from Societe Generale and the CPM Group and the Mexican government that indicate that silver mining production increased in 2015. Others say silver mining production decreased last year. We determnined that whether silver mining production increased or decreased in 2015, is largely irrelevant because demand is outpacing supply. In addition, Societe General, the CPM Group and Mexican Government project silver mining production will decline in 2016.
Silver Demand for ETF and COMEX Trading
The two largest known stock piles of silver are in ETF and COMEX vaults.
There are over 500 million ounces in silver ETFs and over 300 million ounces in ishares SLV ETF.
COMEX warehouses are stocked with about 150 million ounces of silver.
India and Gold
Indian households are estimated to have more than 18,000 tons of gold
Russia and Gold
The Russian Central Bank added another 15.5 tons of gold to reserves in March 2016.
Click here to see Russian Gold reserves Monthly archives
We discussed alternative sources to find gold- asteroid gold mining and sea bed mining.
China and Gold
- Chinese has launched Yuan gold fix.
- China is also added plenty of gold to her reserves. Click here to see the People’s Bank of China gold archives.
- Click here to see Shanghai Gold Exchange weekly and monthly withdrawals
Russia is working with China to provide them with gold.
Russia is adding gold to reserves at a pace 45% greater than China’s.
Chinese gold mining production is the largest in the world.
There is more gold in China than is on the books at the People’s Bank of China For an explanation of where it might be, see “The Case of China’s Missing Gold”
Russia has been buying a greater percentage of its gold mining output
Greenspan on Treasuries “the U.S. Can Always Pay its Debt because it can print dollars”
Greenspan on Gold: Gold is the premier currency
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