silver maple sales

In a surprising update, Canadian Silver Maple Leaf sales for the first half of 2014 surpassed sales during the same period last year According to the Royal Canadian Mint’s Q2 2014 Report, just released, sales of Silver Maples hit a new record of 15.4 million ounces in the first half of the year.
In the first half of 2014, combined U.S. Silver Eagle and Canadian Maple Leaf sales hit a new record of 39.5 million ounces Even though this is only up slightly higher at an additional 500,000 oz compared to 39 million in 1H 2013, it is still positive growth while Gold Eagle and Gold Maple sales are down a staggering 54%.

empty-vault

While the Comex utilizes highly leveraged paper contracts to control the price of silver, physical metal continues to be drained out of the Shanghai Futures Exchange.  In just one week, total inventory has declined by another 24%.
At the beginning of August, there were 148 metric tons of silver on warrant at the Shanghai Futures Exchange.  In just three weeks, 29% of the total inventory was removed.
The majority of this decline took place last week when 22 metric tons were withdrawn on Friday alone.

falling-bear

The current trading action in gold and silver – although seems quite bearish – is really a non-event.

1)   gold and silver bottomed in last June 2013
2)  June 1st this year:   gold is up almost 3%, silver is up just over 3%;  GDX is up almost 20%

Sure doesn’t feel like the precious metals sector has had positive returns this year, does it?
However, while the market trades sideways, SMART MONEY IS ACCUMULATING THE METALS & MINING SHARES. 

silver demand

The banking cartel may not realize it, but they woke up a sleeping giant… physical silver investment demand. 
Before the collapse of the U.S. Housing and Investment Banking Industries, there was very little global demand for physical silver bars and coins.
This all changed in 2008, when the world faced a total collapse of the financial and economic system.
The global economic and financial system went into the emergency room in 2008, and have never come out.
If you thought times were rough in 2008 & 2009, just wait until things really fall apart this time. 

Gold & Silver Eagle Sales Yearly Change Jan-AugAccording to the most recent data put out by the Official Government Mints, silver coin sales are outpacing gold in a big way.
Silver Eagle sales up to the first week of August reached a little more than 27 million compared to 30.3 million during the same period last year.  This was due to a big drop off in demand during June and July.  
In contrast, Gold Eagle sales declined a staggering 376,825 ounces (55%) from 683,325 oz in 2013 to 306,500 oz year to date.

Indian Silver Imports vs Global Mine SupplyIt looks like at least one country is still taking advantage of the extremely low paper price of silver.
From information just released, India continues to import a near record amount of silver in 2014.
Even though silver imports slumped in June compared to last year, demand is still extremely strong.
Do you really believe top silver producing countries like Mexico and Peru as well as many other South American countries will continue to give away their silver for a mere pittance when the Dollar finally loses its World Reserve status?

Collapse Of Roman Silver Monetary SystemThe precious metals will offer one of the best safe havens as the world enters into the next paradigm… “The Death of the Business Cycle.”
Unfortunately, very few analysts, economists or investors realize the darkness that lies ahead.
Gold and silver are more than insurance…. they will be the wave of the future, and the future is now here.

Shanghai Gold Exchange withdrawals 2014 week 23Chinese gold demand in the past few weeks is not as strong as in the beginning of 2014 or as in 2013 after the price of gold crashed in April, though the levels are slightly higher as they were throughout 2011 and 2012.
On the Shanghai Futures Exchange (SHFE) all silver futures contracts came out of backwardation this past week (week 24), and on June 13, most Shanghai silver premiums over international price closed under 6 %.
The prior week they all closed above 6 %.

The scarcity of silver in Shanghai appears to be easing.

silver coinThe particularly ruthless destruction of wealth that disproportionately have an effect on the poor and elderly is a process that slowly, then all at once, destroys the middle class – which has its roots in the debasement of money.
This is as pervasive today as it was in the days of coin clipping.
Monetary debasement is an ongoing and fluid process, although Greshem’s law allows for some filtering. Yet monetization of monetary metals is alive and well.
Of all the barriers to entry a physical silver investor must face, perhaps none is more egregious as those that have evolved in the United Kingdom silver market.

Elephant hunting MorganIt’s no secret that demand for the U.S. Mint silver eagles coin has been unprecedented. It is a walk back through memory lane following the 1986 confirmation of the growing (exponential) popularity of the legal tender coin program.
Many are left these days scratching their heads about who is buying all these coins. Retail demand seems soft at best, with stable coin premiums relative to times of relative shortage.
Speculation has ranged from steady domestic demand to JP Morgan or some other large entity quietly or surreptitiously stockpiling silver eagles.
However, the real elephant in the room for silver demand may be the oldest form of silver – the demand for silver jewelry.

Canadian Maple Leaf Sales Q1 2014With the release of the Royal Canadian Mint’s first quarter 2014 report, sales of silver maples increased substantially compared to the same period last year.  While Silver Eagles sales in Q1 declined slightly year-over-year due to a backup at the U.S. Mint, the Royal Canadian Mint reported a 24% increase in Silver Maple sales.
The Gold (and Silver) price manipulation will end one day OUT OF THE BLUE.  There will be no warningAnd of course it will be too late to purchase gold or silver.

freefallThe Doc & Eric Dubin break down the latest cartel smash-down of the metals, discussing:

  • Is a crash to new lows imminent, or did we see the bottom Friday afternoon as gold broke below $1250 and silver below 18.70?
  • Retail demand EXPLODES- SDBullion saw largest single day sales volume EVER Friday as nearly 20,000 oz of physical silver were withdrawn from the market
  • Russia, Kazakhstan, & Belarus sign Eurasian Economic Union Agreement- accelerate plans to launch “gold” Altyn currency to replace the USD in trade! 
  • GOFO rates & options expiration- implications for the metals

 Full Coverage of the Latest PM Take-down is Below With This Week’s SD Metals & Markets!

solar-canalsWe’ve been discussing the implications Modi being elected in India would have on the price of gold for nearly 9 months at SD- but it appears that gold won’t be the only precious metal majorly affected by Modi’s policies.
Bloomberg is reporting that Modi has announced plans for a massive solar power initiative to bring power to every Indian home by 2019. 
Considering the fact that nearly 1/2 billion people in India currently are without access to electricity, the Modi plan would bring monumental new demand to the solar panel industry- as well as to one of the solar panel’s main components…..SILVER. 

gold & silver sold outThe Doc joins Wall St. for Main St.’s Jason Burack for a wide reaching interview discussing current precious metals demand through the eyes of a retail bullion dealer, the current supply/demand situation for the ammunition and firearms market, and The Doc’s take on the overall macro-economic situation- how long do we have before a complete systemic collapse? 

The Doc’s full interview with Wall Street for Main Street is below: