This will put total Silver Eagle sales for the first quarter at 15 million…the highest ever.
In the wake of Japan announcing negative interest rates and chaos in the silver market with Thursday’s LBMA silver price fix smashed .84 below spot prices by the 6 fixing bullion banks, we welcomed The Admiral of the Silver Market, Eric Sprott himself to help us break down all the action.
In Sprott’s words, the sheer brazenness of the silver fix smash “Reeks of Desperation“.
The discussion offers a unique look into the mind of the Billionaire Asset Manager, as Sprott shares insight into the thought process on how he evaluates whether a market is experiencing a bottom, and the legendary investor also shares the greatest financial lesson he’s ever learned…
Talk about putting things into perspective…
There continues to be a lot of misinformation on the internet, even on the alternative media. So, I thought I set the record straight.
Yes, it’s true…. the facts show that the U.S. peaked in silver production a century ago.
That’s correct, 100 years ago.
Don’t be confused. Gold and silver prices will skyrocket in the future based on the fundamentals, NOT technical analysis. Not only will fundamentals be the important factor in the future, they have also been the leading indicators over the past 50 years.
I realize I will get a great deal of flak for stating this, but the facts presented below paint a pretty clear picture:
Sales of American Silver Eagles set a new all-time record today…
While the Silver Institute’s 2015 projection of silver coin demand of 129.9 million ounces squares generally with our projection of 125.2 million ounces, their overall coin and bar demand does not.
We would estimate that if government mint coin demand demand is up 21% in 2015, privately minted silver rounds and bars would be up by at least that much.
Rising physical silver investment demand will put a record squeeze on North American supply this year.
The charts below show just how much the surge of Silver Eagle and Maple Leaf sales have totally overwhelmed domestic silver mine supply from the US and Canada. While silver is still relatively cheap and abundant, there will come a time where silver producing countries such as Mexico and Peru will hold onto more of their mine supply for their own citizens.
Precious metal investors and especially the ignorant public have no clue just how little silver there is to go around when its true STORE OF WEALTH properties are realized:
A Low $14 futures price of silver combined with this weekend’s world changing tragic events in Paris appear to have ignited another run on physical precious metals…
This is a STUNNING statistic…