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.

silver etf april 2016

There are over 500 million ounces in silver ETFs and over 300 million ounces in ishares SLV ETF.

Comex silver in warehouses April 2016

COMEX warehouses are stocked with about 150 million ounces of silver.

India and Gold

indian house hold gold

Indian households are estimated to have more than 18,000 tons of gold

Russia and Gold 

Russian Central bank gold reserves June 2015 - March 2016

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

Russia is working with China to provide them with gold.

Russia and China monthly additions to gold reserves august 2015 march 2016

Russia is adding gold to reserves at a pace 45% greater than China’s.

chinese gold mining production 2000-2015

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”

Russian gold mining vs gold reserves 2006-2016

Russia has been buying a greater percentage of its gold mining output

gold reserves by country april 20 2016 top ten

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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