Silver supply/demand historical and current

273 posts / 0 new
Last post
Wed, Mar 25, 2015 - 6:06pm
DeaconBenjamin
Offline
-
AR
Joined: Mar 30, 2013
3581
10281

Regarding silver demand

You know the cuisine in an Italian restaurant is authentic when the proprietor accepts payment in silver lire.

Mon, Mar 30, 2015 - 4:09pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

The History of the Element Silver An Esoteric View

The History of the Element Silver
An Esoteric View - from Ancient to Modern Use

Throughout human history, Silver has been recognized and utilized by many cultures as a metal with unique properties. This document explores the significance of the element silver in history, covering esoteric topics such as silver use in alchemy, human culture, and modern science. Silver has a long history of use in medicine, and was commonly used by doctors as late as the 1930's, before the advent of antibiotics.

A History of Silver

The Poetry of Silver throughout History

Anglo-Saxon Prosody©

Songs for the singers, sighs for none
Salvation sings simply for one
Symphonies of splendor
stagings for the moon's silver lore
Powerful singular sensed beauties
caught and shimmering, silence for the trees
Copyright © 2000 Jan Haag

Since ancient times, silver has been closely associated with the moon and lunar influences. The finest artist eyes have described the midnight sheen cast by the sun's reflection off of the moon in terms of silver. Silver is a cool color, and stands as a diametric opposite to gold. Silver is closely tied to Isis and all things flexible, creative, and emotionally intelligent.

In alchemy, silver is an archetype concept - one of seven. Before the periodic table emerged through technological advancement, there were in fact seven sacred metals, of which silver held a place of high esteem. In hermetic philosophy, an alchemical concept more than simply describes physical characteristics. All ideas were centered on discovering and utilizing the essence behind the material manifestation, with the goal of expressing in absolute terms primary principles governing both time and matter. Practitioners of the past were as much poets as scientists, and possessed unparalleled patience in their works.

Silver is even attributed in the ancient chakra system - a system of seven sacred energy centers of the body. Silver is associated with the sixth chakra, often referred to as the "third-eye". In this sense, silver certainly represents the concept of reflection, both physically ( all reflective substances are silvery ) and as an internal exercise of self-analysis.

Silver has always held a value above material and economic considerations. Gifts of silver jewelry in many cultures are given as a symbol of trust, truth, excellence, wisdom and love.

Even the ancient Vedas expound on the intrinsic power of silver. Within the Ayurvedic system of thought, all illness is rooted in an imbalance in the human energy system, and pure metals in precise combinations are used to help restore the body's electromagnetic balance to a state of equilibrium. Medically, silver was known to be a liver and spleen detoxifier.

In Roman and Greek Mythology, the First Age was called Golden, the second Silver. Apollo, god of truth and light, teacher of medicine, carried a silver bow. His twin sister Artemis lost a hand in battle and later was given a silver replacement by the Irish god of healing. In the shamanic religion of Bon-Po, a special river filled with silver sands is said to make anyone who drinks the water lovely asa peacock.

Islamic alchemy gives silver an important place physically and conceptually. Silver was known as one of the seven sacred bodies. Alchemical procedures were even defined in terms of silver, i.e. the silvering of other metals; the act of giving other metals silver-like qualities.

As an example of how these predecessors to modern chemists thought, examine the following passage:

The Marrow of Alchemy

"Wherefore now observe, that our Son of Saturn, must be united to a metalline, and mercurial form, because it is Argent-Vive alone, which is the agent our work requires, but common argent-vive availed nothing to our Stone, being dead, yet it is inclined to be actuated by the salt of Nature, and true Sulphur, which is its only mate. This salt is found in Saturn's offspring, being pure within, and hath power to penetrate to the centre do metals, abounding with such qualities as fits it to enter the body of Sol, which it divided into elements, and after dissolution abided therewith. The Sulphur you must seek in the house of Aries, this is the magic fire of the wise, to heat the Kings bath, (which you may prepare in a weeks time) this fire lies straightly concealed, which you may unlock in an hour's time, and afterward wash it with a silver shower."
- Eirenaeus Philoponos Philalethes
London, 1655

In other alchemical texts, silver is closely related to a process known as metal whitening, and specific procedures are followed to transform metals until they reach a state of color described as a blend of all colors - silvery. A related yellowing process refers to turning silver into gold, which is nothing more or less than taking something back to an original or purified state.


Brightness descends
Here a reflection
Somewhere a shadow
I see the moon in a midnight sky.
This lightness spreads to a pale glow
The secondary reflections bring
A million shades to thousands of colors.
Landscapes of grey-metallic twine
From her skin in ethereal beauty shine
There is silver in the moon!

- Silver Heart Files, JRE, Rights reserved 1989

Based on evidence found on islands in the Aegean Sea, mankind has practiced the science of separating silver from lead at least as far back as 3000 BC. Advances in technology and analytical methods since that time have brought us to extreme pinnacles in a chemical understanding of silver as both a metal and an element.

Silver, Ag, has an atomic number of 47. This means it is the 47th element in the periodic table by atomic weight and contains 47 electrons. The atomic weight of silver is 107.8682, and it is in a solid state at 298 degrees Kelvin. In ground state, it has four filled valence shells and a fifth shell with one electron. Silver has a hardness rated between 2.5 and 2.7, and is therefore one of the most malleable of all metals. Silver is white and lustrous. While it is a metal, it is more aptly described as a transition element. In fluids, silver can exist in four basic forms - as a compound, a neutral particle ( as in ground silver ), a negatively charged aggregate ( particle ), and a positively charged ion.

Silver Bromide and other silver-halide salts are used extensively in photography. Various alloys have long been used for jewelry. Silver is an excellent conductor of both heat and electricity and is therefore used extensively for electrical applications. Up until about the 1930's, silver compounds were used as a normal part of medicine, silver nitrate being the prevalent form. Silver Iodide was used in babies' eyes upon birth to prevent blinding as the result of bacterial contamination.

Esoteric Studies and Colloidal Silver

Some practitioners of the art of colloidal silver production believe that celestial events can effect colloidal silver production. In particular, a few researchers have noted that the moon significantly influences colloidal silver production. Amateur tests conducted indicate that the most stable colloidal silver can be made six hours prior to moonrise, or six hours after the moon sets. Such practitioners widely believe that especially high quality products can be made during a full or new moon.

Much of the colloidal silver industry is busy creating ways to effectively speed up colloidal silver production to maximize the amount of colloidal silver that can be produced in a short amount of time. However, there are those who hold fast to the ancient alchemical belief that time itself is a key factor in all chemical events and that patience IS, indeed, a virtue. The goal under this type of philosophy is to harness the complete cycles of nature, and to extend the brewing time to a day, week, month, or even longer. Usually, such formulations would be used in homeopathic doses.

There are those who also believe that not all silver is created equal! There exists at least one source of silver ( from the Sahara Desert ) that hermetically learned individuals prize for more spiritual reasons. It is unknown if anyone uses such silvers in colloidal silver production - indeed it is the rare individual who even knows of its existence!

While modern researchers, scientists and chemists explore the application of silver through hard science and analytical studies, there are those with broader ambitions and a more liberal attitude toward science who have begun to consider ways to improve isolated silver using different approaches. Production methods utilizing flow forms, holoforms, and other energy/electromagnetic patterning will likely begin to surface as time passes. Experimentation with light, sound and various forms of vibration have been underway for some time. The end goal of such pursuits is to create an end product that is energized, highly organized, and as "naturalized" as possible.

Regardless of whether such efforts yield any measurable benefit, there is a poetic value in beautifying any process. There is certainly room in the imagination to contemplate the differences between a "cold moon" ( December ) or a "hunter's moon" ( June ) solunar silver!

The reality of quantum physics may eventually bring mankind's understanding of natural law closer to its original roots. Studies in standing wave technology, morphogenic fields, and field theory paint an increasingly broad picture of how our universe operates as a dynamically interwoven and elastic reality. While there is ample room for imagination to explore possibilities, one can only wonder if the poetic essence of our highly expressive ancestors will ever fully resurface - or if it will simply continue to lay hidden deep and silent in the soft glow of the silvery night, where the healers of the world bath in peace after the day's work is all but done.

Source; https://www.silvermedicine.org

Tue, Apr 7, 2015 - 7:47pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Survey Shows Rising United States Silver Jewelry Sales in 2014

https://www.silverinstitute.org Silver News, Press Releases & Events Survey Shows Rising United States Silver Jewelry Sales in 2014 Sixth Consecutive Year of Double Digit Growth (Washington, D.C. — March 24, 2015) — Silver jewelry sales in the United States rose in 2014 according to an online survey fielded by “National Jeweler” magazine on behalf of the Silver Institute’s Silver Promotion Service (SPS). The survey affirmed that silver jewelry has become an increasingly important category for many jewelers for the past several years, both in driving sales and providing margin. Highlights from the survey include the following: 67% of jewelry retailers said that their silver jewelry sales increased in 2014, with an average increase of 17%. Retailers said that their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 34% of their unit volume and 30% of their dollar volume. The best maintained margins during the holiday season were as follows: (Percent rating category as “best”) Silver Jewelry 43% Diamond Jewelry 31% Bridal Jewelry 19% Gold Jewelry 7% Platinum Jewelry <1% 89% of retailers say they are optimistic that the current silver boom will continue for the next several years. Retailers reported that female self-purchases provided the best selling opportunity and the 20-40 age group bought the most silver jewelry in 2014. A copy of the report can be downloaded here: 2014 Silver Jewelry Sales Results Report Commenting on the survey, which was fielded February 13 – March 2, 2014, Michael Barlerin, Silver Promotion Service Director said, “The SPS and all of the participants in the Savor Silver program were very pleased by the 2014 results. They are further confirmation of the significance of the role that silver jewelry is now playing at retail.” The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. and serves as the industry’s voice in increasing public understanding of the value and many uses of silver. Please visit www.silverinstitute.org for more information on silver. The Silver Promotion Service was introduced in 2008 by the Silver Institute. The objective of the SPS is to develop and implement programs designed to enhance the image of and stimulate demand for silver jewelry in major international markets. For more information on the SPS please visit www.savorsilver.com.

Thu, Apr 30, 2015 - 2:38pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Goldcorp produces less silver in Q1 2015

* note* This is encouraging less silver coming to market is a good thing for future silver prices. Maybe low silver prices will finally result in less supply. This is a trend I will watch for...

Goldcorp Dips To Q1 Loss; Production, Sales Rise

By Kitco News
Thursday April 30, 2014 8:20 AM

(Kitco News) - Goldcorp Inc. (TSX:G)(NYSE:GG) reported a net loss of $87 million, or 11 cents per share, in the first quarter of 2015 due to unrealized losses from foreign exchange, deferred income tax assets and liabilities.

The company reported net earnings of $98 million, or 12 cents per share, in last year’s comparative quarter. Adjusted earnings totaled $12 million, or 1 cent per share, down from $209 million, or 26 cents per share, in the first quarter of 2015.

Gold production rose to 724,800 ounces in the quarter, while gold sales rose to 827,500 ounces leading to operating cash flow of 6 million during the first quarter.

"Our primary focus in 2015 is on safely executing our plans and forecasts. Delivering on those expectations, coupled with significantly lower capital spending compared to prior years, positions Goldcorp for a sustained period of strong cash flow," said Chuck Jeannes, Goldcorp president and chief executive officer. "This financial strength provides Goldcorp the flexibility to fund the next generation of growth projects.”

Silver production was lower in the quarter at 8.5 million ounces, compared to 9.6 million ounces in 2014’s first quarter. All-in sustaining costs were higher quarter-on-quarter at $885 per ounce of gold compared to $840 per ounce.

Adjusted revenues came in at $1.27 billion.

Tue, May 5, 2015 - 10:56pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

CDE selling silver at a loss

*Note, just imagine how well CDE will do if silver prices fall or stay in this range for 2015*

Coeur Mining Reports Net Loss of $33.3 Million In First Quarter

By Kitco News
Tuesday May 5, 2015 9:35 AM

(Kitco News) - Coeur Mining Inc. (NYSE: CDE) reported a net loss of $33.3 million, or $0.32 per share, for the first quarter of 2015, up from a net loss of $37.2 million, or $0.36 per share, reported in the fourth quarter of 2014.

Adjusted net losses for the first quarter, for non-recurring costs and stock option expenses, came in at 24.4 million or $0.24 per share, up from a loss of $18.8 million or 18 cent per share in during the same time last year.

According to media reports, the loss was better than expected as analysts were forecasting a loss of 31 cents per share.

The company reported revenue of $153 million for the first quarter of 2015, down from $159.6 million reported in the first quarter of 2014.

However, in the company’s earnings press release, Mitchell Krebs, Coeur's president and CEO, said that the company is off to a strong start in 2015.

“Falling oil prices and a weakening Mexican peso bode well for further cost improvement, as fuel represents approximately 7% of our total operating costs and about 50% of Palmarejo's costs are denominated in pesos,” he said. “In the past three months we closed two acquisitions, released a high-grade, high-margin, re-scoped mine plan for Kensington reflecting a significant new discovery, and announced a near-doubling in silver equivalent reserves at Palmarejo, reflecting higher grades from our Paramount acquisition and last year's discovery at Independencia. These are all important steps in our strategy to reduce unit costs, produce higher-quality ounces, and generate free cash flow at current metal prices.”

Some of the company’s highlights in the first quarter include previously announced silver production of 3.8 million ounces and gold production of 69,734 ounces. Total silver equivalent ounces totaled 8.0 million in the first three months of the year.

The company said that adjusted all-in sustaining costs (AASC) were $17.66 per silver equivalent ounce, down 8% from the fourth quarter of 2014. The company also saw a 2% rise in silver and gold prices in the first quarter, compared to the last three months of 2014.

The company is also maintaining its 2015 production guidance of between 14.8 and 16 million silver ounces and between 294,000 and 323,000 gold ounces at an all-in sustaining cost per silver equivalent ounce of between $17.50 and $18.50.

Wed, May 6, 2015 - 6:00pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Silver News, Press Releases &

*note, Silver coins and medals demand was 107.6 Moz last year! and just think the US mint sold 44 million ounce of silver eagle bullion coins alone! Then they sold all the other silver coins. So the rest of the world sold about 60 million ounces, is this number believeable?*

Silver News, Press Releases & Events Key Components of Global Silver Demand Rose in 2014 (New York City – May 6, 2015) Key components of global silver demand rose in 2014, with global silver jewelry demand posting a new record last year and silverware offtake rising to its highest level since 2006. This was coupled with notable growth in key silver industrial end uses, including ethylene oxide, photovoltaics, and brazing and alloys, according to World Silver Survey 2015, released today by the Silver Institute. Gains in supply from mine production and producer hedging were partially offset by a continued decline in scrap supply.

Silver Fabrication Demand

Total silver physical demand stood at 1.07 billion ounces last year, the fourth highest level recorded since 1990, but a 4 percent decline from the 2013 total. A main factor in the decrease in physical demand was a fall in coin and bar demand from 2013, which had been a record year.

The largest component of physical silver demand, industrial applications, which accounted for 56 percent of total physical silver demand, was marginally lower by 0.5 percent. On a regional basis, a modest increase in industrial demand in developing countries, led by 4 percent growth in China and Taiwan, was offset by weaker demand in advanced countries in 2014. This marks the fifth consecutive year of Chinese industrial demand growth. Last year’s industrial demand total for Taiwan was 23 percent above their 2009 figure.

Silver demand for photovoltaic applications rose 7 percent in 2014 while silver demand for ethylene oxide (EO) grew 6 percent. On the latter, GFMS estimates that 128.6 million ounces (Moz) of silver resided in EO plants around the word at year-end, equivalent to 15 percent of last year’s total mine production. Additionally, brazing alloy and soldering demand increased by 3 Moz in 2014. Photography demand slid by 5 percent in 2014, experiencing its slowest pace of decline since 1999.

Globally, silver jewelry fabrication had a second consecutive year of growth, increasing 1.5 percent to achieve a new record.

This was a reflection of high levels of restocking and a strong performance from India, which surged 47 percent from 2013 levels. Gains were also noted in Europe, up 9.3 percent, and North America, up 2.2 percent. Total silverware fabrication rose 3 percent to levels not seen since 2006, primarily due to a 20 percent increase in demand from the Indian Subcontinent.

World Silver Supply and Demand (million ounces) (totals may not add due to rounding)

Supply

2013 2014 Mine Production 835.3 877.5 Net Government Sales 7.9 - Scrap 192.7 168.5 Net Hedging Supply -35.4 15.8 Total Supply 1,000.5 1,061.8 Demand

2013 2014 Jewelry 212.1 215.2 Coins & Bars 243.6 196.0 Silverware 58.8 60.7 Industrial Fabrication 597.9 594.9 …of which Electrical & Electronics 266.2 263.9 …of which Brazing Alloys & Solders 63.1 66.1 … of which Photography 48.0 45.6 … of which Photovoltaic 55.8 59.9 … of which Other Industrial 164.7 159.4

Physical Demand 1,112.4 1,066.7

Physical Surplus/Deficit -111.9 -4.9 ETF Inventory Build 1.6 1.4 Exchange Inventory Build 8.8 -8.9 Net Balance -122.3 2.6

Silver Investment & Price

In 2014, silver coin and bar purchases remained at historically high levels, primarily due to growth in silver coin demand in several key markets. Growth was experienced in the United States, Canada, India and Spain. Silver coins and medals demand was 107.6 Moz last year.

Holdings by silver-backed exchange traded funds remained sturdy, growing by 1.4 Moz, to record their highest year-end level at 636 Moz. In contrast, gold ETF holdings ended 2014 at 53.1 Moz, 8.8 percent lower than their year-end 2013.

Identifiable investment demand, which includes physical bar investment, coins and medals and exchange traded funds (ETF) inventories, stood at 197.4 Moz last year. Demand for physical bullion bars reached 88.4 Moz. India experienced a 4 percent growth in silver bar demand last year, but that was countered by losses in the United States, China and Europe when compared to the prior year.

A combination of a slowdown in Chinese growth, a move away from commodities as an asset class, a stronger U.S. dollar, and a challenging year for most precious metals in general, led to a lower average annual silver price at $19.08 for 2014.

Silver Supply

Silver mine production grew by 5.0 percent to reach 877.5 Moz. This growth is attributable to stronger output from the primary silver and copper sectors, new projects that came online last year and significant production gains in Central and South America. Primary silver mine production grew 8 percent, and accounted for 31 percent of global silver mine supply. Mexico was the world’s leading silver producer, followed by Peru, China, Australia and Chile. Primary silver mine cash costs dropped 16 percent to US$7.74 an ounce, while the producer silver hedge book grew by 15.8 Moz in 2014.

Government sales of silver were essentially nonexistent last year. Scrap supply was down 13 percent at 168.8 Moz, the lowest volume level recorded since 1996 and the third consecutive year of decline. As a proportion of total silver supply, scrap remained just above 15 percent, down from 25 percent in 2011 and 2012.

About the World Silver Survey, the Silver Institute and Survey Ordering Information

The Silver Institute has published this annual report on the global silver market since 1990, to bring reliable supply and demand statistics to market participants and the general public. The 25th edition of the Silver Institute’s World Silver Survey was independently researched and compiled by the GFMS Team at Thomson Reuters. World Silver Survey 2015 was sponsored by 23 companies and organizations from North and South America, Europe and Asia. These firms are involved in most aspects of the global silver industry, from mining and refining to trading and manufacturing. Founded in 1971, the Silver Institute is an international industry association. Its members include leading silver producers, refiners, manufacturers and dealers.

Copies of World Silver Survey 2015 are available to the media upon request, and can be purchased by the public for US$225 from the Institute’s web site www.silverinstitute.org.

For copies outside North America, please contact GFMS at Thomson Reuters via GFMS[at]thomsonreuters[dot]com.

Major Sponsors

A-Mark Precious Metals, Inc. Coeur Mining, Inc. Fresnillo Plc Industrias Peñoles, S.A.B. de C.V. Pan American Silver Corp. Silver Wheaton Corp. General Sponsors

Barrick Gold Corporation Cia. de Minas Buenaventura, S.A.A. Goldcorp Inc. Hecla Mining Company Italpreziosi SPA Scotiabank Silver Standard Resources Inc. Contributors

Asahi Refining CME Group Endeavour Silver Corp. International Depository Services Group Mitsui Global Precious Metals Republic Metals Corp. SilverTowne Tanaka Kikinzoku Kogyo K.K. TD Bank Valcambi sa For Further Information Contact:

Mike DiRienzo The Silver Institute Tel: +1 202-495-4030

Andrew Edson Andrew Edson Associates Tel: +1 516-850-3195

Andrew Leyland Thomson Reuters GFMS Tel: +44 791 775 0411

This entry was posted in Silver Institute Press Releases. Bookmark the permalink. News from The Silver Institute Silver Institute Press Releases Silver Events Silver News Silver News Archives 2014 - 2005 Noticias de Plata 2015 - 2004

General Commodity News Bullion Street BullionVault Commodities Now Commodities Online Kitco.com Sharps Pixley The Bullion Desk Yahoo! Commodity News General Silver News Yahoo! Silver News Yahoo! Market Guides Gold and Silver Companies Jewelry & Silverware Manufacturers General Mining News American Metal Market Info-Mine Mining News Mine Web Mining Record

Thu, May 7, 2015 - 3:41pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

World silver survey 2015 audio cast

This is a must listen audio cast for the silver investor. If this link does not work, go to the silver institute website...enjoy https://www.webcaster4.com/Webcast/ListenPage?companyId=466&webcastI...

Fri, May 29, 2015 - 1:52pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Silver Exothermia

Silver Exothermia

https://www.silver-coin-investor.com/Silver-Exothermia.html

Every new chemistry student is warned about the dangers of pouring water into acid. The water causes the solution to boil over violently, splashing concentrated acid out of the container.

By definition, concentrated sulfuric acid is very dense. Adding water creates a sudden dilution, which produces heat or an exothermic reaction.

Over the past weekend, there were bullish cries from those who noticed something unusual about the commitment of traders set up on the COMEX silver and gold futures market. Where silver has been in a nearly forgotten state of massive concentration – a great (transparent) density influencing the price on a daily basis.

Traders noticed a build up of the long side of the blind, alto-driven speculative variety.

In a free market, this might be indicative of something meaningful about the future. But these markets are far from free--silver lying at the very heart of darkness.

The build of the speculative long manifested as it seemingly always does, by simply lowing hanging fruit ripe for the HFT-driven commercial paper short harvesting. Just another cycle driven by the largest multi-national and government-supported financial institutions civilization we will ever see.

Of course, down went the price--as if on cue. And sentiment follows immediately after. True market conditions buried deeper.

All one needs to do is simply look at the other side of the trade to predict more accurately what was actually coming. Watch what the elephants do.

It is this concentration, this saturation, which completes the nearly singular control of price mechanism. That is the key. It is the key to understating what will indeed be one of the most volatile returns to reality anyone alive today will have witnessed.

The analogy is for the eventual return to fair market value.

* WILL FALLING SUPPLY FROM THE MINERS BE THE CATALYST? *

But far from a graceful one. Price manipulation creates a massive disconnect between the actual market and what we’ve become accustomed to, or perception.

Once the real return begins, it will be like adding to water to acid. Concentrated acid is what we’ve got as a result of years of misallocation and disconnect. It is the evolution and maintenance of a massive and profitable paper short position.

We cannot escape market principles any more than we can escape physical laws. Therefore, the return will likely be an accident that boils over to other markets. The exothermic reaction either boils over from silver into derivatives...

Or it boils over to confidence.

It very likely boils over further and deeper into society. Either way, it is a not a gradual return. While the acid looks placid and not volatile it is wise to head the chemistry.


Sun, Jun 28, 2015 - 6:06pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

A silver miner speaks out

The Financial RESET & Triple Digit SILVER -- CEO Keith Neumeyer

https://www.youtube.com/watch?v=IWvRwUqYIL8#t=50

Tue, Jul 7, 2015 - 3:07pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

AHH Yes ...fundamentals?

US Mint Runs Out Of Silver On Same Day Price Of Silver Plunges To 2015 Lows

Which makes one wonder: just what is the inventory buffer at the mint if a modest 1.6 million ounces of silver sold in one week can deplete the Mint's planned holdings for one entire month.

And another question: in just what supply/demand universe does such an explicit confirmation of a surge in demand for silver result in a plunge in the price of spot silver to its lowest level of the year!?

https://www.zerohedge.com/news/2015-07-07/us-mint-runs-out-silver-same-d...

* BETTER GET INTO THE SAFETY OF BONDS!* AH HA HA

Sat, Jul 11, 2015 - 4:05pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Silver's value; some ratio analysis

With cry of silver shortage here again I thought I would share some of my silver analysis with all. I am going here to www.stockcharts.com and using the (:) you can do ratio analysis.( to view chart go to stockcharts and type in the below ques). Here is what I am look at; all charts are weekly.

$gold:$silver currently at 74.69 with 200 weekly moving average (wma) of 61.3. So gold is quite expensive in terms of silver.

$silver:$copper currently at 6.13 with 200 wma of 7.29. So copper is relatively more expensive than silver. So can you say that silver is easier, and more abundant to mine? Think about that.

$silver:$gaso currently at 7.67 well below the 200 wma of 9.18. So gas is more expensive now in terms of silver.

$silver:$crb currently at 0.71 and 200 wma of 0.84. So silver is buying less commodities in general.

$spx:$silver currently at 133.37 well above the 200 wma of 77.49. So stocks have a long way to fall just to revert to the mean! Can you say Shemetah!

$hui:$silver currently at 9.10 with the 200 wma of 12.62. Well it looks like mining stocks are sooo hated even silver is valued more than them. So this is a good thing as the mining industry is being starved for capital they are in survival mode. What will be cut is development for further in ground supply. If we go to the silver institute we can see that silver production has been rising for the past 10 or more years from 639.9 million ounces in 2005 to 877.5 mos in 2014. It is a long slow yearly number metric but we need to see this trend reverse with a decline in production starting in 2015 and continuing for the next year and year after that.

GG:$silver is currently at 1.06 and 200 wma of 1.21 Goldcorp is a large silver byproduct producer. As you can see its stock price is under performing silver price.

AG:$silver is currently at 28 and is way under the 200 wma of 51. !st Majestic is a popular primary silver producer its share price is way underperforming silver.

What to take from all this. IMO, silver is cheap and may still get cheaper! So cost average your stacking efforts and leave gold stacking to the wealthy. Some day the gold:silver will reverse then regardless of what the Fiat dollar prices of the metals are you can sell some silver and stack gold. Mining shares are risky here so buy some with money you feel you can lose, think Las Vegas! So if I gaze into my crystal ball and using that lucky number 7, silver should make a new high some time in 2018. God bless all.

Wed, Jul 22, 2015 - 2:39pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Can’t Stop, Won’t Stop; Why Gold Miners Just Keep Digging

Silverwood says...*This article from Bloomberg, bearish for prices of metals of coarse, has a lot of truth to it. But... what you are not being told is that there is little to no money for future mining supply. The longer the prices stay at these levels the more damage will be done to future mine supply via exploration. This is a stacker's guarantee of higher prices down the road and patience is a virtue!*

https://www.bloomberg.com/news/articles/2015-07-21/can-t-stop-won-t-stop...

If only gold mine operators could flatten their debt mountains as easily as they can the real things.

Mining companies built up record borrowings to boost gold output during a 12-year bull market in the metal that stopped dead in 2011. The 42 percent slump in prices since then leaves them effectively servicing the debt with devalued currency.

Gold mining companies boosted debt to take advantage of rising prices.

Output that might have fallen as gold sank has continued on to all-time highs as producers need to generate enough cash from sales at lower prices to keep up payments on what they owe.

That’s squeezed profitability and share prices, with a benchmark index of 30 of the biggest precious-metals miners falling to the lowest levels since 2001, when bullion was barely a quarter of its current rate of ,110 an ounce.

Equities tumble to their lowest since 2001.

“The industry is in a shocking state,” said Mark Bristow, head of Randgold Resources Ltd., the producer with the best share performance in the past decade. “Everyone is still focused on production and not on profitability.”

Growth in output has exacerbated an oversupply that makes a recovery in the bullion price harder to achieve, Bristow said.

Gold production continues to rise even as prices fall.

Debt held by 15 of the biggest producers including Barrick Gold Corp. and Goldcorp Inc. hit a record $31.5 billion at the end of the first quarter, up from less than $2 billion in 2005, according to data compiled by Bloomberg Intelligence.

That was spurred by the dash for growth when prices were rising, including $8.5 billion for Barrick’s mine in the Andes mountains and C$8.2 billion ($6.3 billion) for Kinross Gold Corp.’s bet on Mauritania. In the past decade, world output expanded 24 percent to last year’s 3,114 metric tons.

“The whole industry is being encouraged to continue to live on hope,” Bristow said. “The question is how much cash flow do you need to expunge the debt? There’s nothing really left to create value for shareholders.”

Tue, Jul 28, 2015 - 1:33pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Silver Continues To See Positive Broad-Based Demand – Silver Ins

By Kitco News
Tuesday July 28, 2015 11:05

(Kitco News) - Despite the recent price weakness, there is still a lot of potential for silver as the market continues to see broad-based demand, according to the Silver Institute.

However, the institute does see some potential for silver prices to regroup from recent losses noting that that the gold:silver ratio averaged 73 in the first half of 2015, well above the 15-year average of around 58.

According to the latest report released by the nonprofit association, this indicates “silver is underpriced relative to gold.”

“This gives way to increased potential for buying in the silver market,” the institute explained.

The report said that consumer demand for silver jewelry was particularly strong as jewelry imports in the U.S. increased 11% through the end of May; while, imports from Thailand and China increased 18.5% and 14%, respectively, during the first five months of the year.

“GFMS Thomson Reuters (GFMS), the precious metals consultancy, estimates that globally silver jewelry will grow 5 percent in 2015,” the report said.

Silver also continues to see strong industrial demand. The institute noted that silver use in the renewable energy sector, as the metal is a key component in solar panels, is expected to increase 8% this year to 65 million ounces.

“The increase is due to the U.S., which had a 76 percent increase in solar installations in the first quarter of 2015 when compared to last year,” the report said.

The report also highlighted that while silver demand remains positive, the metal is expected to see a growing supply deficit of around 57.7 million ounces, the third consecutive yearly deficit.

Probably one of the most noticeable differences between gold and silver has been in investor demand. Despite a strong start to the year, gold held in trust in physically-backed exchange-traded funds are now negative on the year, as investors outflows increased in June.

However, the institute noted that global silver ETF holdings have increased by more than 4.7 million ounces as of July 24, “indicating that these investors likely have a more positive longer-term view of the silver price.”

Despite a slow start to the year, the institute has also noticed a pickup in silver bullion demand. In late-June, the U.S. Mint sold out of its 2015 American Eagle silver coins, as it was caught off guard when sales picked up after prices dropped below $15 an ounce. The U.S. Mint resumed sales of its silver bullion coins on Monday on an allocated basis.

The institute noted that global coins sales in the first half of the year was down about 6% compared to the same time period last year; however, sales were still the fifth highest on record.

Sat, Aug 1, 2015 - 7:11pm
daveyboy
Offline
-
UK
Joined: Jun 19, 2011
780
2432

Okay, before I comment I just

Okay, before I comment I just want to say that if you aren't overstretched, then buying silver at these prices is a no brainer. However next to address this surge in demand, or supposed. Contrary to the statements made, I am able to buy silver eagles, Britannias panda's cheaply. In fact I just did, bought some 200 plus ounces of Britannias. The point being the premiums paid were low. So, back to the US mint headline, they are trying to predict demand and during summer months demand is typically low so they got caught out, I.e. they did not order enough blanks. As for why they got caught out, there were barely 2 million sales of eagles in May. So, then the question of demand, is this new demand or simply the same buyers, buying more because of the price. The reason why that's important should be obvious but as for whether there is no overall increase, hmmm if demand is falling in industrial use and more people are selling too (mike Maloney admits this) then the end result is not a demand which tips the balance of supply. I am sorry to say but for every person with a shred of honesty (David Morgan) there are a ton of bullshitters trying to just sell more silver with lies and distortions. Furthermore again as David Morgan has pointed out, the reason why the miners can still continue is because the falling oil prices have acted as as a massive cost saver. I think the best thing we can do is just continue to buy at these low levels (if you can afford it) and never again be suckered in with the "buy at any price" crap. These levels could hold for many months to come though or indeed fall further still.

Tue, Aug 4, 2015 - 3:04pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Fresnillo First-Half Profit Declines; Capital Spending To Be Tri

So this looks just like what I have been saying, less money for future supply, but they did increase silver production. We will have to wait to find out if global silver production for 2015 is the beginning of the decline and that 2014 was the peak year for production. This is a slow numbers grind but for the bull market in silver to get hummin' we need global production in a decline. Other factors could play into getting silver's bull market going but falling supply is a lock for higher prices.

Fresnillo First-Half Profit Declines; Capital Spending To Be Trimmed

By Kitco News
Tuesday August 04, 2015 09:03

(Kitco News) - Fresnillo Plc. (LSE: FRES) Tuesday reported a decline in its profit for the first half of 2015 as metals prices fell, adding it is cutting capital spending this year.

The company’s first-half profit fell to $76.4 million, a 44% decline from $137.1 million reported in the same period in 2014, the company announced.

Image Courtesy of Fresnillo Plc: Fresnillo underground silver min

Earnings per share were 10.4 cents, down 41% from 17.7 cents in the year-ago period, Fresnillo said. The company announced a dividend of 2.1 cents per share.

Fresnillo is the world’s largest primary silver producer, with core operations in Mexico.

"We have had a solid first half operationally, with silver and gold production up 11% and 37%, respectively,” said Octavio Alvídrez, chief executive officer.

Adjusted revenues increased 9.6% year-on-year to 2.4 million as a result of the increase in the amount of metal produced and sold, Fresnillo said.

Silver production was 23.8 million ounces, up from 21.5 million in the year-ago period due to increased production resulting from the start of operations at Saucito II, which offset lower production at the Fresnillo mine.

Gold production was 364,020 ounces, up from 265,670 in first half of 2014 mainly due to Herradura being fully operational after a previous temporary suspension of its explosives permit, which affected production in the first half of 2014. Also, output was helped by the dynamic leaching plant at the mine being in operation for the full half year after its start-up in March 2014, together with increased contributions from Saucito and Noche Buena, Fresnillo said.

The company reported lower realized commodity prices, with silver fetching .61 per ounce, down 18%, from a year ago. The company received ,206.10 per ounce for gold, down 7.4%. The lower prices impacted financial performance, Fresnillo said.

“The pricing environment remains challenging, with ongoing precious metals price volatility,” said Alvídrez. ”Our strategic objectives remain unchanged and we continue to take a long-term view, but we will also take into account the effect of market dynamics on our operating assumptions, if necessary deferring expenditures without compromising the profitable growth we continue to deliver, as evidenced by our reduced capital expenditure estimate for the full year 2015.”

Capital expenditures for the year are now expected to be around 0 million, down from the previous expectation of 0 million.

For 2015, gold-production guidance was raised to between 715,000 and 730,000 ounces from the previous forecast of 670,000 to 685,000. Full-year silver production remains on track at 45 million to 47 million ounces, Fresnillo said.

Stage 1 of the San Julián project is now expected to be commissioned in the first quarter of 2016 rather than fourth quarter, Fresnillo said. The company cited delays in permitting, weather-related issues and a high rotation of contractor personnel due to the project's remote location. However, the Pyrites project remains on track for production in 2017.

By Allen Sykora of Kitco News; asykora[at]kitco[dot]com

Tue, Aug 4, 2015 - 8:02pm
daveyboy
Offline
-
UK
Joined: Jun 19, 2011
780
2432

I agree with you, eventually

I agree with you, eventually these things feed in but over indebted miners have an incentive to maintain production. I am very tired of hearing these silver Touters. "Record demand" I say fuck off with that fallacy. Do you know if we take eagles as being the yard stick for overall demand then there was no noticeable movement from 2013 vs 2014 and when you average sales up to the present, it doesn't look like there will be much of a difference this year either. Every damn year the unsubstantiated and baseless "comex imminent default" and US can't meet demand market about to explode crap is pushed. Yet this is NOT reported by people who are being overly enthusiastic they are knowingly using false arguments. They know all about just in time inventory but yet want to push the fear card to spur more sales. I find that absolutely disgusting as impressionable people who believe in what is being said have been panicked into buying over and over which has led them into financial dire straits. I have no idea how long this collapse will continue but this bear market in metals could conceivably last a few more years. I put some stock in what Armstrong says about capital flows out from bonds into assets but we may well be another 4 years from seeing the results of that. It's time for a sense of realism and sobriety to replace the hype.

Wed, Aug 5, 2015 - 2:25am
Boswell
Offline
-
L.ost A.rea, CA
Joined: Jun 23, 2011
826
3085

Ahhh, Jewelry!

"The report said that consumer demand for silver jewelry was particularly strong"

I was just thinking... If you know people who are hesitant to "invest" in gold & silver bullion, suggest that it is a good time to buy some gold & silver jewelry!??? High carat gold, silver belt buckles, flatware, etc? At least they will have something to sell (cash in on?) later. ;-)

Thu, Aug 13, 2015 - 4:48pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

This is a worthwhile listen

https://thedailycoin.org/?p=39805

Here's the equation....lower mining exploration + increasing production into falling prices = future supply crunch = rising prices

Wed, Aug 26, 2015 - 5:14pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Some good news on a $hitty day for silver

*Note...Wondering if you all have noticed that as soon silver prices fall the coin dealers are raising premiums sometimes erasing any bargain we the stackers may enjoy. We may see silver prices fall to $12 range or who knows where. I can see the dealer advertise Silver Eagle as low as $6.29 over spot...LoL*

Silver Being Used To Kill Bacteria On Corning’s Gorilla Glass

By Bodo Albrecht
Wednesday August 26, 2015 10:06

Many people using touch screen devices such as smartphones or tablets have wondered about the presence of microbes on these screens at one point or another. Corning, maker of “Gorilla Glass”, a widely used brand of glass on such devices, just announced a new version of anti-microbial Gorilla Glass to address the issue.

This week’s Tech Metals Insider guest is Dr. Joydeep Lahiri, division vice president and program director at Corning’s Specialty Surfaces Group, to tell us more about the development.

Image courtesy of Corning

“The idea was to create a product that has durable anti-microbial properties while preserving key properties of Gorilla Glass such as scratch resistance, damage resistance and optical clarity,” he explained. “By infusing a tiny amount of ionic silver on the surface we get a reservoir that is sufficient to last for the lifetime of the device.”

Asked about the life span of the feature, Lahiri said that the coating will last “a lot” longer than just 2 to 3 years. “We adjusted the amount of silver so the optical quality would not be compromised by putting the silver where it needs to be. It’s a very precise process,” he added. This approach also keeps the additional cost at a minimum.

Corning is confident that this new patented process will be the most efficient use of silver while providing the highest performance and lowest cost. “Most devices today already have an ‘easy to clean’ surface coating,” Lahiri went on. “It reduces smudges and gives a smooth, textile feel.” Combined with Corning’s new anti-microbial Gorilla Glass, “you get the look and touch that you would expect from Gorilla Glass but now it has the anti-microbial effect as well.”

The product is in production mode and will first appear on ZTE’s Axon smartphone and on Diebold ATMs. Given Corning’s history and relationship with Apple the next generation iPhone is probably a good guess, too. On top, Corning expects the new type of glass to open additional markets in the area of shared touch screens. Many of us are using so-called “point of sale” (POS) touch screens in stores, at airport kiosks and in many other places. “Microbes can transfer from shared to personal touch screens”, Lahiri points out. The coating will therefore be beneficial in both areas and markets.

Asked about sapphire glass as a competitor to Gorilla Glass, Lahiri said: “We believe Gorilla Glass is an extremely competitive material. We understand the properties and limitations of thin sapphire glass well. There are significant issues, cost being one of them but also scratch and damage resistance which are severely compromised in some types of application.

Corning is one of the world’s leading innovators in material sciences; the company was first to develop substrates that could be impregnated with precious metals, leading to catalytic converters. Corning’s activities range from display technologies, optical communications, environmental technology and life sciences to specialty materials. Its “Emerging Innovations Group” represented by Dr. Joydeep Lahiri focuses on new businesses that are considered long term or that do not fit with any of the existing businesses.

The latest use for silver demonstrates that the metal is once again inching into novel main stream technical applications, contributing to its renaissance.

Bodo Albrecht
President – BASIQ Corp.
www.basiq.com
www.bodoalbrecht.com

Thu, Aug 27, 2015 - 2:54pm
silverwood
Offline
-
Kilauea, HI
Joined: Jun 15, 2011
651
1754

Retail silver... a coin dealer's perspective

Dear TexMetals customers:

I am writing to provide you with an update on precious metals inventories. We are presently out of stock on many products. I want to begin by quoting an article I posted on July 8th, 2015:

————

“It is important to understand how and why supply constraints occur during periods of falling prices, and why precious metals premiums consequently spike. Let’s use an extreme example to illustrate the nature of how the physical metals markets move.

a. Let’s assume the spot price of silver is $15 and subsequently falls to $10.
b. Let’s assume the annual average demand for physical silver is $1B.

In this scenario, if the demand in dollar terms remains flat, the manufacturing output would need to increase by 50%. The mint would need to increase minting capacity from 66.67M coins to 100M coins - a huge increase.

Now, if the silver spot price fell by 33% in a condensed time frame, you can be certain that demand would increase precipitously. If we assume demand (in dollar terms) doubles, the mint would need to increase production from 66.67M coins to 200M coins. What if demand triples or quadruples? You get the idea. Over the long term, the US Mint might be able compensate, but certainly not in the short term. No manufacturing operation could. Manufacturing is inelastic with respect to short term scalability.

Then you have the domino effect:

- The US Mint goes on “allocation", limiting supply to authorized purchasers.
- This supply constraint, in the midst of rising demand, forces dealers to raise premiums.
- Rising premiums on US-minted products induces buyers to purchases other sovereign coins, like Canadian Maples, or privately-minted products.
- The increase in demand for these products creates the same manufacturing constraints for these organizations that are affecting the US Mint.
- The problem compounds and lead times extend until demand cools, supplies increase, and the coil unwinds.

These reverberations in the market are Economics 101. The physical precious metals market is minuscule relative to all other asset classes, and small shocks can create major supply shortages.”

————

Supply constraints began surfacing in July at the US Mint, and subsequently the Canadian Mint encountered severe manufacturing disruptions which greatly limited supply on gold, silver and platinum. The recent tremors in the stock market and decline in precious metals prices have compounded the problems in the supply chain.

As our loyal customers know, if we don’t have a product in stock, we don’t sell it. Given the recent events in the market and the supply chain, we are out of stock on many products. Please refer to the information below for the most recent information about our supplies:

TEXAS ROUNDS AND BARS: This past week we had an issue with a Brinks delivery which delayed a new shipment of Texas Rounds. We will have 20,000 rounds available beginning next Tuesday 9/01, with 20,000 rounds arriving every Tuesday thereafter. At current demand, it is unlikely that we will maintain deep supplies for the next couple of months. We are expecting a limited shipment of 10 oz Texas bars next Tuesday also. Premiums remain normal on these products, and we are hoping to keep these premiums unaffected by supply constraints.

US MINT: Presently, there are no delays on gold coins, and premiums for gold products remain normal. Silver American Eagles are on allocation, and allocated levels were extremely low this past Monday, 8/24. As of this writing, we presently have 50,000+ Silver Eagles left in stock. We expect further supplies out of next week’s allocation, but the volumes are presently unknown. We are attempting to keep premiums as the lowest in the industry, but they nevertheless remain elevated throughout the supply chain.

ROYAL CANADIAN MINT: Supplies for Gold Canadian Maples remain extremely tight, and premiums have elevated by a couple of dollars. Sales of Silver Canadian Maples, Birds of Prey Series coins, and 100 oz bars are suspended and unlikely to become available until late September at the earliest.

PERTH MINT: Presently, there are no delays on gold coins, and premiums remain normal. Supplies on 1 oz gold bars remain tight, but we do expect limited supplies to arrive by 8/31 at the latest. As of this writing, we presently have 15,000+ Silver Spiders in stock, as well as 25,000+ ozs of ½ oz Sister Cities coins. Premiums on both coins remain normal. We expect the new 2016 Silver Kangaroo to arrive by late September, but we do not yet have a firm date on their arrival.

Supplies for Platinum Platypus remain very limited. We are having difficult keeping any in stock. We are hoping to secure another small lot by early next week, 8/31.

AUSTRIAN MINT: We are expecting a shipment of 10,000 Silver Philharmonics due to arrive on Friday 9/04. The premiums remain normal at the present time. Supplies of Gold Philharmonics are presently constrained.

GENERIC 100 oz BARS: We have an order for 250 100-oz Republic Metals Silver Bars (25,000 ozs) due to arrive September 17th. Barring any unforeseen supply changes, we do not expect to have 100 oz bars in stock prior to then.

I hope this offers you a general overview of our present expectations for supply. Please note, this information may change as the industry reacts to these constraints. We will do our best to keep you posted on the latest developments.

As always, thank you very much for your business and your loyalty.

Sincerely,

Jason Kaspar
CEO, Texas Precious Metals