After well over a year I finally was able to get Louis Cammarosano, Smaulgld, back on the line
for, what we hope, is the kick-off to a more consistent update on the gold
and silver “markets”
With both metals enjoying a nice upswing over the past several months it
seemed like a good time to take a look around the globe and see what is
happening. You can’t really see around the world unless you first look in
your own backyard to find out what is happening, which is exactly what we do.
The American Gold Eagle (AGE) sales have fallen off a cliff. So much, in
fact, that 2017 very well may be a “key date” in the series. If a person were
thinking about adding a little gold to their stack the 1/2 ounce AGE looks
like the one to pick up. As we discussed just a few weeks ago, the 1/2 ounce
AGE will probably be the lowest minted coin in the history of the 1/2 ounce
AGE program. The number of minted coins is currently sitting at 29,000 with
only 4 months remaining in the year. With 3 of the previous 9 months drawing
a blank, there is a good possibility we will see another month of zero sales
of this coin. The premiums on this particular coin are already beginning to
rise and we feel this trend will continue for some time – this is investment
advice, simply what we see happening with the 1/2 ounce AGE. We will be
picking up at least 2 of these coins before years end.
There was more news regarding Russia selling or swapping gold with China
released today. Peter Koenig reported Sberbank, Russia’s largest bank, has
already sold 440 pounds of gold to China in 2017 and would be “selling” an
additional 3-5 tons gold to China in 2017. Also, Sberbank would be selling
between 10-15 tons, if not more, to Chinese “financial institutions”
beginning in 2018. It is a little unclear if this is in addition to the
already committed “up to 100 tons” Russia has agreed to sell China beginning
in 2017. Lots of gold flowing between Russia and China.
Russia has continued there steady program of adding approximately 200 tons
of physical gold to their sovereign gold horde.
Louis brings a certain calm to the space and discusses gold, and other
subjects, from a point of “what do the numbers tell us”. We take a hard look
at the relationship between the ETF, paper gold market, and how the COMEX
moves in tandem to the paper fluctuations. This makes perfect sense because
the global “price” of gold is determined in a fraudulent paper market this is
almost completely disconnected from the physical gold market.
We cover a wide range of gold topics in this 30+ minute show. I wouldn’t
call an interview, more like two friends discussing the state of the market
today. We hope you learn something and have a laugh or two along the way.
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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700
articles and produced more than 200 videos about the precious metals
market, economic and monetary policies as well as geopolitical events since
1987. His articles have been published by Zerohedge, SHTFPlan, Sprott
Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory
has contributed daily to SGTReport since 2012. He has interviewed experts
such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente
and Peter Schiff, to name but a few. Visit The Daily Coin website
and The Daily Coin YouTube channels to enjoy original and
some of the best economic, precious metals, geopolitical and preparedness
news from around the world.
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The author is not affiliated with, endorsed or sponsored by Sprott Money
Ltd. The views and opinions expressed in this material are those of the
author or guest speaker, are subject to change and may not necessarily
reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the
accuracy, completeness, timeliness and reliability of the information or any
results from its use.
