Monday, July 6, 2020

U.S. Mint Silver Eagle Sales Jump In August On Lower Prices

by Steve St. Angelo, SRSRocco Report:

Well, it looks as if a bit of life has come back into the silver market as U.S. Silver Eagle sales jumped in August due to lower prices. While Silver Eagle sales have fallen over the past few years, if we exclude typical high January demand, sales so far in August are the highest in a year.

What is even more interesting is that Gold Eagle sales in August haven’t increased that much compared to Silver Eagles even though the gold price fell to the lowest level in more than a year-and-a-half. Actually, Gold Eagle sales this month are more than 50% less than they were last month. So, for whatever reason, Silver Eagle sales are responding more positively to the lower silver price than Gold Eagles.

Russia Plans To Beat US Sanctions By Stockpiling Gold

by Mac Slavo, SHTF Plan:

The Russian government is not taking the United States’ sanctions lightly. Instead, they plan to beat all sanctions imposed by Washington, including any future sanctions, by stockpiling gold.

The Russian central bank’s First Deputy Governor Dmitry Tulin said that Moscow sees the acquisition of gold as a “100-percent guarantee from legal and political risks.” The increases in gold purchases by the Russian government come as the Trump administration plans to impose new sanctions on Moscow.

GOLD UP $3.45 TO $1196.75 WITH SILVER DOWN ONE CENT TO $14.77: SILVER NOW HAS A RECORD 244,196 OPEN INTEREST BUT NOT PRICE

by Harvey Organ, Harvey Organ Blog:

IT IS AT THE BOTTOM OF THE BARREL/TURKEY DID NOT SELL ANY OF ITS GOLD: THE WORLD GOLD COUNCIL HAD DECIDED THAT GOLD HELD BY ITS BANKS SHOULD NOT BE INCLUDED AS OFFICIAL RESERVES/EXISTING HOME SALES PLUMMET IN THE USA/BRAZILIAN REAL PLUMMETS TO 4.09 AND A DANGER FOR CONTAGION/A PLETHORA OF SWAMP STORIES FOR YOU TONIGHT

The Trend Change In Central Bank Gold Reserves in 2008 That Few Have Noticed And Fewer Acted Upon

by Jesse, The Burning Platform:

This excerpt below is from a blog which I published in 2013.   It is a theme that I have been striking since 2009 specifically.

The turn in central bank gold buying came in 2008, although the bullish case for gold for other reasons became pretty obvious in 2002.

The bottom in the gold price was marked when England sold its remaining physical gold, in the notorious ‘Brown’s Bottom.’

By 2009 the data made it completely clear that the world’s central banks had turned from net sellers of gold bullion in order to control its price and had become net purchasers of physical gold for their own reserves.

GOLD RISES BY $5.75 TO $1193.20 AND WITHIN ONE DOLLAR OF ITS 10 DAY MOVING AVERAGE

by Harvey Organ, Harvey Organ Blog:

SILVER IS UP 2 CENTS TO $14.78//MICROSOFT DISCOVERS A HACKING ATTEMPT BY RUSSIANS AGAINST CONSERVATIVE INTERESTS AGAINST TRUMP/USA TREASURY RESPONDS ANGRILY TO THIS/RUSSIA ABANDONS ITS BOND AUCTION DUE TO LACK OF BIDS AS INTEREST RATES RISE IN RUSSIA/EMERGING MARKETS STILL IN TURMOIL AS THE BRAZILIAN REAL BREAKS 4:1 /COHEN IS SET TO PLEAD GUILTY AND NOW WE MUST WATCH WHAT HE DOES WITH RESPECT TO TRUMP/JULIAN ASSANGE’S MOTHER TWEETS THAT IT WAS MARC RICH THAT DOWNLOADED INFORMATION OF THE DNC TO WIKILEAKS

David Morgan on the Metals Mayhem

by Kerry Lutz, Financial Survival Network:

Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result. You Can Continue To Grow Your Wealth Regardless Of The Changing Winds Of Politics, The Economy And The Financial Markets. Let me show you how…

Click HERE to Listen

Annual Mine Supply of Gold: Does it Matter?

by Ronan Manly, BullionStar:

The topic of how much extractable gold is left in the world has become increasingly discussed within the last few years. This is because of increased focus on ‘peak gold’ and also a concern about remaining levels of unextracted gold reserves. Peak gold is a term referring to the phenomenon of annual gold mining supply peaking (i.e. the rate of gold extraction increases until it peaks at maximum gold output and subsequently diminishes).

The concern about remaining extractable gold is based on the fact that annual gold mining production is running at over 3200 tonnes per annum (e.g. 3247 tonnes in 2017 according to GFMS), while various metal and geological consultancy estimates put the amount of remaining extractable gold reserves worldwide in the region of 55,000 tonnes. In other words, at current rates of extraction, according to these estimates, known gold reserves worldwide would be depleted in about 17 years.

Dollar Hegemony, Financial Warfare: Russia, China and Turkey Build up their Gold Reserves

by Prof Michel Chossudovsky, Global Research:

Central banks in several regions of the World are building up their gold reserves.

A large part of these Central Bank purchases of gold bullion are not disclosed. They are undertaken through third party contracting companies, with utmost discretion. 

The evidence amply suggests that US dollar holdings and US dollar denominated debt instruments are being traded in for gold, which in turn puts pressure on the US dollar.  

In the course of the last ten years, both China and Russia have boosted domestic production of gold, a large share of  which is being purchased by their central banks.

In Next Crisis, Gold Won’t Drop Like 2008 – Keith Weiner (20/08/2018)

by Keith Weiner, Sprott Money:

Last week, we discussed the tension between forces pushing the dollar up and down (measured in gold—you cannot measure the dollar in terms of its derivatives such as euro, pound, yen, and yuan). And we gave short shrift to the forces pushing the dollar down. We said only that to own a dollar is to be a creditor. And if the debtors seem in imminent danger of default, then creditors should want to escape this risk. The dollar is not redeemable so there is no way to be paid in full for the debt represented by the dollars. The only way to opt out of credit risk entirely is to trade one’s credit paper for gold. That is to buy gold. We said that Federal Reserve insolvency is not imminent.

The Move Out of Treasuries And Into Gold Continues

by Chris Marcus, Miles Franklin:

When Russia dumped the majority of its U.S. treasury holdings over the past few months,  I noted how it was interesting to wonder what the other holders of U.S. treasuries must be thinking.

“Because the reasons that Russia would sell its holdings are not a complete mystery. The U.S. debt has crossed $20 trillion, and rather than hearing any discussion of how that’s ever going to be repaid, instead the talk is just about how long it will take until the debt hits $30 trillion.”

So for any nation that’s sitting there holding a large U.S. treasury position, there’s an incentive to move first in order to avoid being left without a chair when the music stops.