2017 Global Physical Gold and Silver Demand: A Fact Vs. Propaganda Update

Recently, the western banking cartel media has been out in full force to mislead everyone regarding a narrative of falling and ‘soft’ demand for physical gold and physical silver, as they typically frame the market in the US as representative of the global market when this is patently false. Furthermore, the usual suspects, like Goldman Sachs bankers, have piled on to this misinformation by calling for a plunge in gold prices, but more on that later. First let’s discuss the misleading statistics being disseminated by the mainstream financial media regarding physical gold and physical silver demand. Last month Reuters reported plummeting silver Eagle coin sales for Q3 at 3.7 million ounces, and attempted to frame weak US physical silver demand as weak overall silver demand by calling the silver coins data ‘the lowest in 10 years’. Furthermore, they attempted to frame physical gold demand as weak by referring to the Q3 2017 American gold eagle coins sales of 38,500 ounces as a 80% plunge from the same quarter, prior year. If you were to read just this one article to gauge physical gold and physical silver demand worldwide, you would likely believe that demand was dead and that no one was interested in buying physical gold or silver anymore, as the Reuters journalist literally provided zero context to these numbers. As I’ve repeatedly stated for the past 10 years, anyone can use statistics to present a biased and false picture of reality by stripping presented data of any context. This is precisely what the Reuters journalist did.
Furthermore, Bloomberg hopped on the ‘no one wants to buy physical gold and physical silver’ Reuters bandwagon as well with a similar narrative of gloomy gold demand by reporting last week that ‘sales of gold coins [in the United States] in the first nine months of the year shrank to the lowest in a decade.’ As well, various mainstream US financial websites prominently reported that demand for US Mint produced gold bullion has fallen off a cliff this year, with the first 5-months of 2017 only generating 185,500 ounces of gold sales, yielding a projected 2017 annual figure of only 445,200 AuOzs sold.

This post was published at GoldSeek on Thursday, 12 October 2017.

Gold Reset To $10,000/oz Coming ‘By January 1, 2018’ – Rickards

– Trump could be planning a radical ‘reboot’ of the U. S. dollar
– Currency reboot will see leading nations devalue their currencies against gold
– New gold price would be nearly 8 times higher at $10,000/oz
– Price based on mass exit of foreign governments and investors from the US Dollar
– US total debt now over $80 Trillion – $20T national debt and $60T consumer debt
– Monetary reboot or currency devaluation seen frequently – even modern history
– Buy gold eagles, silver eagles including monster boxes and gold bars
– Have a 10% allocation to gold, smaller allocation to silver
Editor: Mark O’Byrne
A new monetary standard which will see the dollar ‘reboot’ and gold be revalued to $10,000/oz according to best-selling author and Pentagon insider Jim Rickards.
A monetary ‘reboot’ is not unprecedented Articles about an imminent return to the gold standard are not exactly infrequent in the gold world and it can be easy to become immune to them and dismiss them without considering the facts and case being made.

This post was published at Gold Core on August 30, 2017.

2017 American Gold Eagles – The Best Year EVER?

American Silver Eagles (ASE) sales are way down for the year but seem to be on the rise, while American Gold Eagles (AGE) sales have been down and are off by a substantial percentage compared to all other years.
In the fist half of 2016 ASE’s were on a tear and had the pace set in the first half of 2016 continued throughout the year it would have been another record setting year. However, a funny thing happened in the second half of 2016, sales fell off a cliff and have never recovered. AGE’s in 2016 were also enjoying a great run, not record setting but strong sales month after month.
As can be seen in the charts AGE sales are down by some 75% year over year. In April 2017 AGE sales were down north of 90%; that trend has continued in the following months with only a slight improvement in May. If you are a coin collector this year would probably be a good year to add a few AGE’s to the stack, in multiple denomination’s as the total number of coins minted should be exceptionally low across the board. Personally, I will be picking up one coin of each denomination because of the low mintages. Graded coins should do exceptionally well as the years go by.

This post was published at GoldSeek on Tuesday, 8 August 2017.

Paper Gold And Silver – A Tragic Reflection Of The U.S. Financial System

Dave, just a moment for some feed back on your Short Seller’s Journal. I just placed an order for 1oz gold eagles thx to my profits off Tesla and BBBY, thx as always. – subscriber email received today – Short Seller’s Journal information
Wow. The hedge funds are almost net short silver contracts again, having had their algos steered into that predicament by the bullion bank market manipulation. The fraudulent paper short position in both gold and silver – but especially silver – is many multiples larger than the available supply of physical metal that is supposed to legally back commodity derivatives. This is evident from the Comex disclosures.

This post was published at Investment Research Dynamics on July 8, 2017.

U.S. Gold Exports Surge As Its Gold Trade Deficit Continues

It’s no secret that the East (Asians and Indians) continue to acquire a lot of gold as Western demand has weakened this year. According to the most recent data released by the USGS – United States Geological Survey, U. S. gold exports surged during the first four months of the 2017 versus the same period last year.
How much? A great deal. In the first four months of 2017, the U. S. exported a stunning 173 metric tons of gold (5.5 million oz) compared to 119 metric tons (3.8 million oz) during the same period last year. Thus, U. S. gold exports Jan-Apr 2017 surged 45% versus last year.
This is quite a large increase. I would imagine part of the increase is due to the fact that U. S. precious metals retail demand is off considerably ever since Trump was elected President. U. S. Gold Eagle sales are down a whopping 62% 1H 2017 versus the same period last year.
For example, the U. S. Mint sold 501,000 oz of Gold Eagles during the first half of 2016, versus 192,000 oz for the first half of 2017. This is a drop of 309,000 oz.

This post was published at SRSrocco Report on JUNE 30, 2017.

Gold – An Overview of Macroeconomic Price Drivers

Fundamental Analysis of Gold As we often point out in these pages, even though gold is currently not the generally used medium of exchange, its monetary characteristics continue to be the main basis for its valuation. Thus, analysis of the gold market requires a different approach from that employed in the analysis of industrial commodities (or more generally, goods that are primarily bought and sold for their use value). Gold’s extremely high stock-to-flow ratio and the main source of gold demand – which is monetary, or investment demand – suggest that gold has to be analyzed as though it were a currency rather than a commodity.
One implication of this is that reservation demand is an extremely important factor in determining the gold price (for details on this topic see Robert Blumen’s essay ‘What Determines the Price of Gold’). Data on the annual flow of gold in terms of mining supply, jewelry demand, retail buying of gold eagles or net demand from central banks are insignificant by comparison.

This post was published at Acting-Man on April 11, 2017.

Ted Butler Quote of the Day 03-02-17

Unless there’s some unexpected surge in reported sales, this month’s sales of Silver (and Gold) Eagles from the U.S. Mint are so low as to be almost unbelievable. I would remind you that gold and silver prices have moved higher for the month and for the year to date, so the abysmally weak sales of coins stand out even more. Why are Eagle coin sales so low?

When I first concluded JPM was behind the surge in sales, many doubted my findings and some continue to do so to this day. Ironically, the sharp recent falloff in U.S. Mint (and Royal Canadian Mint) sales, at least to me, provides more proof that JP Morgan was the big (former) buyer. The mark of whether any premise or finding is valid lies in how it holds up to changes in circumstances along the way. By identifying that JP Morgan was the big buyer and not the retail public that created the probability that should JPM suddenly refrain from buying (as it is now doing), there must be a sudden and shocking decline in total sales, which has occurred.

For those who claimed it was strong retail demand all along and not JP Morgan behind the six years of record sales of newly issued silver coins from both mints, it would seem that they have the burden of proof to now explain the sudden falloff in sales. As I’ve contended all along, public behavior is broadly recognizable and there were no clear signs of strong retail demand away from the Mints’ record sales of coins. Since I claimed there was no big retail demand all along, just big demand by JPM, my explanation for the recent falloff in demand is that the bank stepped aside. It seems to me that those claiming it was strong retail demand all along and not JPMorgan now have the responsibility of explaining why retail demand suddenly changed. I’m not holding my breath waiting for those explanations.

A small excerpt from Ted Butler’s subscription letter on 25 February 2017.

  More precious metals news & information available at
Ed Steer’s Gold & Silver Digest.

Ted Butler Quote of the Day 12-07-16

I’m convinced the price take-down over the past month in gold and silver was as deliberate and highly orchestrated as any I’ve ever seen. I know I’m talking about a price manipulation which shouldn’t be condoned in any way – but the manipulation itself was masterful, nonetheless. The largest amount of gold and silver ounces repositioned were of the COMEX paper variety by far, but the 2.5 million physical ounces of gold withdrawn from GLD was worth $3 billion, hardly chump change. There’s no doubt in my mind that whoever primarily orchestrated the price decline on the COMEX, not only bought back a large number of gold and silver short futures contracts, but much of the physical gold and silver dishoarded by investors in GLD and SLV, as well. Along with stopping big physical deliveries on the COMEX.

Speaking of JPMorgan, I sense the bank’s octopus reach for physical metal continues to extend into Gold and Silver Eagles. This past month featured weak retail demand for these coins, just as the same weak retail demand was reflected in redemptions in GLD and SLV. Yet the U.S. Mint sold more Gold Eagles in November than in any month this year. These circumstances can’t be explained away from it being the work of a big buyer. And the only reason I can come up with why JPMorgan hasn’t been buying more Silver Eagles is that its overall silver buying has become too obvious in too many venues. The bottom line on all this is JPMorgan is taking extraordinary measures to buy as much physical silver and now gold as it can. Maybe you should too.

A small excerpt from Ted Butler’s subscription letter on 03 December 2016.

More precious metals news & information available at
Ed Steer’s Gold & Silver Digest.

Investors Push Gold Eagle Sales To Record High & Commentary On Precious Metals Sentiment

Investment demand for Gold Eagles surged during the last day in November pushing sales to a new monthly record. Not only did Gold Eagle sales for November reach a new record high for the year, it surpassed sales during the same month last year by 52%.
It seems as if investors are once again taking advantage of lower gold prices. I had planned to publish the article on Wednesday (last day of the month) showing that November sales hit a new record high, but the U. S. Mint updated their figures yesterday reporting another 20,000 Gold Eagles oz were sold on the 30th.
So, as of Nov 29th, the U. S. Mint Gold Eagle sales reached a new high for the year of 127,500 oz. Then they sold another stunning 20,000 oz in one day for a total of 147,500 Gold Eagle oz for November:

This post was published at SRSrocco Report on December 2, 2016.

Pilgrim Currencies: From Wampum to Gold Eagles

The majority of Americans know the basics behind the story of the pilgrims’ 1620 journey on the Mayflower, their eventual landing at Plymouth Harbor, and the physical and mental hardships they faced helping form the first permanent settlement of Europeans in New England.
Native American tribes like the Pokanoket were instrumental in helping the Pilgrims survive harsh winters, showing them how to plant corn, the best places to fish, and where to catch beaver. Thanksgiving is the day we celebrate the harvest feast the Pilgrims shared with the Pokanokets as an expression of thanks and good will.
Trade with other cultures, like the Pokanokets, was as essential for the Pilgrims’ survival just as it is for Americans today. Unlike our nation’s early European ancestors, however, today we use some pretty sophisticated ways to exchange goods and services. Credit cards, electronic transfers, bank wires, and cryptocurrencies make the Pilgrim’s form of currency seem like an alien technology, but that doesn’t mean it didn’t (and still doesn’t) work just as effectively today.

This post was published at Schiffgold on NOVEMBER 25, 2016.

Regardless Of Price, Gold Investment Demand Increases On Rising Market Uncertainty

Global gold investment demand has increased due to rising uncertainty in the financial markets and the unpredictability associated with a new Trump Presidency. Not only has gold investment demand surged this year, sales of the U. S. Mint Gold Eagles spiked the day after the U. S. President election.
Interestingly, the current price action in gold and silver seems to suggest that market has no need for top two precious metals. While the gold price spiked to almost $1,340 late Tuesday night when Trump began to lead in the Presidential election, it has continued lower to $1,226 on early Friday trading.
The gold price chart above shows the huge spike during early morning trading on Nov 8th. Of course, gold was behaving exactly as many in the gold community forecasted if Donald Trump won the Presidential election. However, later that day, the broader markets rallied into record territory while the gold price continued to fall.
On the other hand, as the Dow Jones surged 500 points to a new record over 18,800 points, the oil price continues to weaken. In just the past three weeks, the price of West Texas Crude is down 16% from $51.5 to $43.5 today.

This post was published at SRSrocco Report on November 11, 2016.

Global Interest In Silver Investment Expands As South Africa Adds New Silver Krugerrand

As interest in silver investment expands throughout the world, the South African Mint will produce its first 1 oz Silver Krugerrand, to be released this November. This is quite remarkable as the South African Mint has been producing Gold Krugerrands since 1967.
Matter-a-fact, the South African Mint has produced over 50 million oz of Gold Krugerrands over the past 49 years. It is the largest Official Gold coin producer in the world. The U. S. Mint’s Gold Eagle comes in second with over 22 million oz produced since the program started in 1987.
With the 50 year anniversary of the minting of the Gold Krugerrand in 2017, the South African Government will also release a new 1 oz Platinum Krugerrand along with its new silver coin. They also plan on adding some addition sizes of the Gold Krugerrand, such as a 1/20th, 1/50th oz variants as well as a 5 oz coin.
However, the big deal for the silver investor will be the new 1 oz Silver Krugerrand:

This post was published at SRSrocco Report on October 31, 2016.

Bullion coin sales boost revenues of world’s largest Mints

The world’s major precious metals mints are currently riding high on the back of extremely strong global bullion coin demand and relatively buoyant gold and silver prices. These mints are predominantly run as commercial enterprises. The sheer scale of revenues that the US Mint, Royal Canadian Mint (RCM), Perth Mint and Austrian Mint have been generating over the last number of years is eye-opening. Not surprisingly, due to their high value nature, revenues from bullion coin sales account for the lion’s share of total revenues for each institution and have been a core driver of their overall profitability.
Official Bullion Coin Programs
Each of these four mints has an official bullion coin program. The US Mint’s program consists of the production and sales of American Eagle Silver bullion coins, American Eagle gold bullion coins, American Buffalo gold bullion coins, America the Beautiful silver coins, and American Eagle Platinum coins. RCM’s bullion coin program comprises gold, silver, platinum and palladium Maple Leaf bullion coins, as well as the recently addedMapleGrams.
The Perth Mint bullion program is slightly more extensive and briefly consists of the following: Australian Kangaroo gold and silver coin series, Australian Kookaburra silver coin series, Australian Koala silver coin series, Australian Platypus platinum coin series, Australian Lunar gold and Australian Lunar silver coin series. The flagship of the Austrian Mint’s bullion program is the Vienna Philharmonic gold bullion coin series, but the mint also produces the Vienna Philharmonic as a silver and platinum bullion coin, as well as historical re-strikes of original Austrian circulation gold ducats, gold guilders and gold crowns.
Bullion Coin Sales Drive Revenues
In fiscal 2015 (to September 30), the US Mint generated revenues of US$2.12 billion on its bullion coin sales. This represented 57.6% of the Mint’s total 2015 revenues of US$ 3.69 billion. Revenues from gold Eagles totalled $979.6 million, silver Eagle sales added $785.4 million, and gold American Buffalos contributed another $252.2 million in revenues.
In 2015, the RCM’s Gold Maple Leaf coin sales generated revenues of CA$1.41 billion while the Silver Maple Leaf coins added a further CA$687 million, giving a combined revenue of CA$2.1 billion. This represented over 80% of RCM’s total bullion revenues in 2015, and nearly 71% of RCM’s total 2015 group revenues.

This post was published at GoldSeek on 4 July 2016.

News Flash: Gold and Silver Bullion Coins Selling at a Frenzied Pace

Demand for physical gold and silver continues to surge with bullion coins flying out of the US Mint at a frenzied pace.
May gold coin sales increased more than 206% over the same month last year. The mint sold 76,500 ounces of American Gold Eagles in May and 18,500 ounces of Gold Buffalos. That compares with 21,500 ounces of Gold Eagles and 9,500 ounces of Gold Buffalos in 2015.
May typically marks the beginning of the slow season for gold coin sales, but 2016 was atypical. This was the strongest May for US Mint gold coin sales since 2011.

This post was published at Schiffgold on JUNE 2, 2016.

Solid gold eagle worth millions stolen

Delta Police are looking into the robbery of an 18-pound, solid-gold, diamond-encrusted statue in Ladner, worth about $5 million.
Sgt. Sarah Swallow says the heist occurred ‘on the street’ Sunday night in the 4700 block of 57th Street. The owner, Ron Shore, suffered minor injuries, was treated in hospital and released.
He said the eagle had been on display for four days at the Art! Vancouver exhibit and was in transit when the theft occurred, while it was being loaded onto a vehicle.
‘I struggled as hard as I could and yet wasn’t able to prevent the robbery,’ Shore said.
Swallow says police are not releasing any further information at this early stage of the investigation:
‘Investigators … are working with the victims and witness to establish exactly what happened and confirmation of suspect descriptions prior to any further details being released,’ Swallow said in a statement.

This post was published at TruthinGold on May 31, 2016.

Continued Financial Market Deterioration Impacts Gold Eagle Sales In A Big Way

The financial system is sitting on the edge of a cliff and an increasing number of investors are beginning to realize it. I hear more and more evidence from contacts in the financial and precious metal industry that the U. S. banking industry and Dollar are in serious trouble.
While some of individuals believe that the Fed and U. S. Government will continue rigging the markets for the next decade or more, I believe we will witness a financial dislocation or black swan event within the next year.
As I have stated in several interviews, I sold my business and left the big city and moved to the country back in the beginning of 2007. I knew the mortgage industry and economy were going to collapse. What I didn’t know was the degree to which the Fed and Central banks could prop up the market.
NOTE: If you haven’t checked out our new PRECIOUS METALS INVESTING PAGE, please do.
It has been eight years now and the silver bullets have run out. While the Fed and Central Banks will continue to rig the markets as best they can, the amount of debt overhanging the market has become unsustainable. As Central banks push interest rates negative, it just motivates more investors to get into gold and silver.
Last week there were several emergency Fed meetings followed by China’s launching of its new gold yuan benchmark this Tuesday. Also, according to Global Research News:

This post was published at SRSrocco Report on April 22, 2016.

Emergency Fed Meetings Spooked Investors Into Purchasing Record Gold Eagles

Sales of the U. S. Mint Gold Eagles surged last week as investors were spooked by the emergency Fed meetings. As several news sources reported last week, this was the first time both the President and Vice President ‘unexpectedly’ met with the Fed Chairman to discuss the state of the American and global economy.
In addition, according to the news release, SuperStation95 – TWO MORE! Closed-Door, Expedited Meetings of Federal Reserve:
After Monday’s expedited, closed-door meeting of the Federal Reserve, Chair Janet Yellen met with Obama and Biden in an extraordinary meeting. Then, the fed called another, ‘expedited meeting’ for Tuesday, April 12 to discuss a ‘Bank Supervisory Matter’ and now, has called yet a THIRD closed-door meeting for Wednesday, 13 April, over ‘financial markets . . .’
The calling of three, closed-door meetings of the federal reserve Board of Governors and an extraordinary meeting with the President AND Vice-President, signals something is very serious; and the answer seems to rest with today’s meeting about a ‘Bank Supervisory Matter.’
Which bank?
Which bank has a ‘supervisory’ matter so serious that it had to be taken-up by the federal reserve Board of Governors at an emergency, closed-door meeting?

This post was published at SRSrocco Report on April 18, 2016.


Good evening Ladies and Gentlemen:
Gold: $1,233.60 up $0.50 (comex closing time)
Silver 16.25 down 6 cents
In the access market 5:15 pm
Gold $1233.00
silver: 16.24
I hope you all watched a very important video where Rob Kirby and Greg Hunter discuss the purchase of the Chinese of the SWIFT system. Now the Chinese can combine their CIP with the new SWIFT system and bypass the USA altogether. Rob Kirby describes this as a knife into the heart of the USA. (CIP transfers money/Swift provides the information packet. Up until now you had to settle in dollars as there was no way around the SWIFT system.)
Let us have a look at the data for today.
At the gold comex today, we had a fair delivery day, registering 35 notices for 3500 ounces for gold, and for silver we had 18 notices for 90,000 oz for the non active April delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 218.990 tonnes for a loss of 84 tonnes over that period.
In silver, the open interest rose by another 1447 contracts UP to 194,076 as the silver price was UP 14 cents with respect to FRIDAY’s bullish trading. In ounces, the OI is still represented by .970 billion oz or 138% of annual global silver production (ex Russia ex China). We are now at multi year highs in OI with respect to silver
In silver we had 18 notices served upon for 90,000 oz.
In gold, the total comex gold OI fell BY A rather small 2675 contracts DOWN to 494,212 contracts DESPITE THE FACT THAT the price of gold was UP $8.10 with FRIDAY’S TRADING(at comex closing).
We had another huge change in gold inventory at the GLD, this time a deposit of 6.38 tonnes thus the inventory rests tonight at 812.46 tonnes. (Yesterday we also had 3.26 tonnes removed) The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver, we had another withdrawal of .951 million oz of silver despite silver’s rise. No doubt that this silver was used in the fruitless attempt at knocking down the silver price. Thus the Inventory rests at 333.297 million oz..
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on April 18, 2016.

Ted Butler Quote of the Day 03-31-16

Sales of Silver Eagles achieved weekly sell-out levels yet again, as another one million coins were sold last week, bringing to 14 million the total number of Silver Eagles sold year to date. Sales of Gold Eagles continue relatively soft as of late, with the daily sales run rate this month 50% less than the previous month and 70% below the level of January’s sales. Since I allege that JPMorgan has been the big buyer of Silver Eagles for the past five years—and of Gold Eagles for much of the past year, the question I ask myself is not why has JPM stepped away from buying Gold Eagles, because I think I know the answer—namely, because JPM knows it will likely rig the gold price lower ahead. I ask myself instead, why haven’t they done the same thing with Silver Eagles, as they did a year ago when they stepped away from buying until prices fell? I don’t have a firm answer yet, so feel free to pass along anything you can think of.

Leaving possible explanations aside, I would point out that with the month coming to an end, more Silver Eagles have been sold relative to Gold Eagles in March than in quite some time (no, I’m not going to look it up). There aren’t many months in the 30-year history of the bullion coin program that Silver Eagles have outsold total ounces of Gold Eagles by a ratio of more than 100 to 1, as has been the case this month. My point is that on both an absolute and relative to gold basis, Silver Eagles sales are phenomenally large. On this, no one would disagree after looking at the data.

At the same time, reports from the retail dealer front indicate weak to downright putrid retail demand for silver and gold, not just currently, but for much of the past five years. Based upon recent Mint statistics, the weak demand can be seen in Gold Eagles (now that JPM has stepped aside), but it can’t be said that Silver Eagles are not being sold to the Mint’s maximum production capacity. Silver Eagles are being sold in the quantities reported by the Mint, for sure, but who the heck is buying them?

Perhaps the biggest question/disagreement raised in my allegation that JPMorgan has accumulated hundreds of millions of silver ounces has been my insistence that the bank has acquired 100 million Silver Eagles (plus as many as 50 million Canadian Maple Leafs) over the past five years. I’m going to address the most important reactions to the article I just made public soon, but I would ask those who doubt that JPM has been the big buyer of Silver Eagles, to at least try to reconcile and explain the strong actual sales against weak retail demand. More than any other single factor, it was this very curious circumstance -strong reported sales but weak retail demand – that first led me to the JPM connection. And I am not too proud to beg for alternative explanations, so please send them my way.

A small excerpt from Ted Butler’s subscription letter on 26 March 2016.

  More precious metals news & information available at
Ed Steer’s Gold & Silver Digest.

SILVER vs. GOLD: 2 Must See Charts

What is the better investment? Silver or Gold? Well, if we look at the following two charts below, we can spot some interesting trends. The U. S. Mint has been producing Gold and Silver Eagles for over thirty years now. Since 1986, the U. S. Mint has sold 21.7 million Gold Eagles versus 463.4 million Silver Eagles. The overall Silver-Gold Eagle Ratio from 1986-2016 is 21.1:

This post was published at SRSrocco Report on March 29, 2016.