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Wednesday, October 31, 2012
Tuesday, April 10, 2012
Top Ten gold mining countries of 2011
China was the biggest
gold producer in 2011, a report by the London based metals research
company CRU states. Chinese production grew to 380 tonnes in 2011, up
11.4% from 341 tonnes in 2010.
Australia produced 4.6% more gold in 2011 and came second with with 272 tonnes of gold output compared to 260 tonnes produced in 2010.
Total global gold output was pegged at 2789 tonnes, a 5.7% increase from 2010 production of 2638 tonnes
Australia produced 4.6% more gold in 2011 and came second with with 272 tonnes of gold output compared to 260 tonnes produced in 2010.
Total global gold output was pegged at 2789 tonnes, a 5.7% increase from 2010 production of 2638 tonnes
CRU's Top Ten gold mining countries of 2011
Friday, April 6, 2012
Gold at $2175/oz : Morgan Stanley forecasts
NEW YORK : Morgan Stanley expects
gold prices to remain bullish for 2012 but sees risk to oil prices. The
bank forecasts gold prices to average $1845/oz in 2012 while oil prices
are expected to average $105/barrel
On oil, even though the bank expects prices to average $105/barrel in 2012, current high prices are likely to slow demand and support more production by OPEC causing "bearish inventory trends". In a bear case scenario, oil prices could fall to as low as $85/barrel
On gold, the bank states that “…Recent coordinated actions by six central banks and separate actions by the ECB suggest that non-gold related measures to ease access to USD swaps will be successful, reducing downside pressure on the gold price”
The bank expects gold prices to climb to $2175/oz by 2013 with prices depending on 4 bullish factors - decline in producer hedging, decline of developed market central bank sales, inability of gold mines to increase gold supplies materially and the long term growth in physical investment demand.
On oil, even though the bank expects prices to average $105/barrel in 2012, current high prices are likely to slow demand and support more production by OPEC causing "bearish inventory trends". In a bear case scenario, oil prices could fall to as low as $85/barrel
On gold, the bank states that “…Recent coordinated actions by six central banks and separate actions by the ECB suggest that non-gold related measures to ease access to USD swaps will be successful, reducing downside pressure on the gold price”
The bank expects gold prices to climb to $2175/oz by 2013 with prices depending on 4 bullish factors - decline in producer hedging, decline of developed market central bank sales, inability of gold mines to increase gold supplies materially and the long term growth in physical investment demand.
Thursday, April 5, 2012
Silver : Superb choice for investors
FLORIDA: Silver will be the
emergent king for precious metals investing in 2012 as a manufacturing
boom will push its price upwards to $150 per ounce by the end of year,
predicts Stephen M Smith, Managing Member of Smith McKenna, LLC.
Smith points out that in today's economy it is crucial to diversify investment portfolio, and commodities like silver is a superb choice.
According to Smith, who has over 20 years of experience in precious metal commodities and nobly boasts the lowest spreads in the commodities investing market, emerging dynamics are already spurring silver to experience its best quarter in a year's time.
He says,”The dynamics of Silver clearly dictate that it is undervalued many times over and holds the key to tomorrow’s new technologies.”
Also, he adds,”Without the Japanese tsunami, then a Greek crisis, a U.S. budget fight, and finally - the flooding in Bangkok; the global manufacturing data would have skyrocketed and sent Silver to the prices now enjoyed by less used metals like gold, palladium, and platinum.”
Smith notes that a lot of the hype behind precious metals investing in today’s market rests with gold, but silver should not be ignored and could now emerge the leader of the market. Silver is on par to experience its best quarter in a year’s time, something that is reinforcing that very notion.
Silver has reached a high so far of $33.13 per ounce and a low of $32.95 per ounce
Smith points out that in today's economy it is crucial to diversify investment portfolio, and commodities like silver is a superb choice.
According to Smith, who has over 20 years of experience in precious metal commodities and nobly boasts the lowest spreads in the commodities investing market, emerging dynamics are already spurring silver to experience its best quarter in a year's time.
He says,”The dynamics of Silver clearly dictate that it is undervalued many times over and holds the key to tomorrow’s new technologies.”
Also, he adds,”Without the Japanese tsunami, then a Greek crisis, a U.S. budget fight, and finally - the flooding in Bangkok; the global manufacturing data would have skyrocketed and sent Silver to the prices now enjoyed by less used metals like gold, palladium, and platinum.”
Smith notes that a lot of the hype behind precious metals investing in today’s market rests with gold, but silver should not be ignored and could now emerge the leader of the market. Silver is on par to experience its best quarter in a year’s time, something that is reinforcing that very notion.
Silver has reached a high so far of $33.13 per ounce and a low of $32.95 per ounce
Sunday, February 26, 2012
Thursday, January 26, 2012
Wednesday, January 25, 2012
Tuesday, January 24, 2012
Silver to $49.73 in April
I believe the short squeeze that took Silver to $49.73 in April has taught the commercials how tight the physical silver market actually is, and that the commercials "appear to have no interest in massively shorting silver again". As a result, I look for silver
to make massive gains in the near futures, as the commercials turn and
go net long, resulting in $50 silver appearing "cheap" in the near
future.
The big commercial silver shorts had a near death experience when the price approached $50 in April. They were at the end of their rope and needed to do something in a hurry. That’s why they rigged prices lower; so that they could buy and save themselves. These well-connected commercials knew, perhaps for the very first time, just how tight the silver market had become and how close we were to a profound physical shortage. The key is that the silver shortage wasn’t caused by excessive speculative buying or a bubble or a mania. The extreme tightness and near shortage in silver was as a result of the gradual and cumulative impact of normal investment buying over the past five years. There is nothing to suggest that the long term and steady silver investment buying has ended.
Because there was no bubble or mania in silver, there was no bubble to burst. The orchestrated take-downs of the price by the big commercial interests were simply so that these commercials could buy and rid themselves of Silver short positions. That’s done now. That means that the silver market is now in the best possible shape.
What lies ahead for silver is exciting. While we have not witnessed a bubble in silver yet, we will some day. The silver story and the dynamics of the market are too compelling for an investment mania not to emerge at some point. If anything, speculative sentiment has been completely wrung out from silver, clearing the way for speculators and investors to enter the market with a vengeance.
At some point, enough of the world’s industrial silver users will panic as prices climb and attempt to build physical silver inventories. This user buying, something that never kicked in during the run to $50 will create a silver shortage, the likes of which never witnessed before. It seems that the big commercial interests have come to learn the real silver story and they appear to want no part of the short side again. The major pressure of selling has passed...and the way seems clear for higher prices. By the time the next chapter in the silver story plays out, $50 could look cheap. (By Ted Butler)
The big commercial silver shorts had a near death experience when the price approached $50 in April. They were at the end of their rope and needed to do something in a hurry. That’s why they rigged prices lower; so that they could buy and save themselves. These well-connected commercials knew, perhaps for the very first time, just how tight the silver market had become and how close we were to a profound physical shortage. The key is that the silver shortage wasn’t caused by excessive speculative buying or a bubble or a mania. The extreme tightness and near shortage in silver was as a result of the gradual and cumulative impact of normal investment buying over the past five years. There is nothing to suggest that the long term and steady silver investment buying has ended.
Because there was no bubble or mania in silver, there was no bubble to burst. The orchestrated take-downs of the price by the big commercial interests were simply so that these commercials could buy and rid themselves of Silver short positions. That’s done now. That means that the silver market is now in the best possible shape.
What lies ahead for silver is exciting. While we have not witnessed a bubble in silver yet, we will some day. The silver story and the dynamics of the market are too compelling for an investment mania not to emerge at some point. If anything, speculative sentiment has been completely wrung out from silver, clearing the way for speculators and investors to enter the market with a vengeance.
At some point, enough of the world’s industrial silver users will panic as prices climb and attempt to build physical silver inventories. This user buying, something that never kicked in during the run to $50 will create a silver shortage, the likes of which never witnessed before. It seems that the big commercial interests have come to learn the real silver story and they appear to want no part of the short side again. The major pressure of selling has passed...and the way seems clear for higher prices. By the time the next chapter in the silver story plays out, $50 could look cheap. (By Ted Butler)
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