GoldCorp (ie Perth Mint) interviewed on Kitco. Interestingly Perth Mint refines 160 tonnes of silver a year compared with 350 tonnes of gold per annum. Also comments about the very strong demand for silver. http://bcove.me/4ddmsk9z
Yes, there is a lot of investment demand in germany. Looking back to 2008 there are now at minimun 30 dealers only in PM business ( no numismatics ) selling bars and coins. Before 2008 there were only a few ones. In my small town (5000 citicens ), there are 3 shops they want to buy your gold and silver, only to melt down them and make profit. Most people dontt know the real value of gold and silver and they upload their jewellery for small money. I think a lot of bars will find a new place at big moneys vaults. The last days there was a professional study that say germans private people store 29.000 tons of silver. A big discussion started about this, becaus we bugs do not belive this big number. A average household ( 4 persons ) should have 1.5 Kg pure silver. If anybody is interested in the study - Germans horting 29.000 tons of silver
Interesting point. This just to average out the official numbers I wonder? Well here in ooooorstralia I'm doing my part then. 1.5kg of silver? Check!
First a disclaimer, I have not read the link but just from the title I think you can see the comparisons of the two countries economies and their outlook in the immediate future. One is pushing for the biggest economy at the moment and a world leader, the other is in some strife economically and have some concerns financially. So to me this takes on the old saying Silver is speculative and Gold is security. So these two countries are approaching it differently one trying to claw back losses and one trying to maintain its power when the US$ comes crashing down. So the question still comes back to what part Silver plays in this change when/if it happens. I also wonder when the Silver tonnage will outnumber the Gold tonnage P.A ?
It was actually a study of 1122 people over 18 and than it was extrapolated to the entire population. Silver in all forms was counted ( jewellery, silver cutlery, bars, coins ).
Interesting point in the video, the guy from the Perth Mint says China produces some 400 odd tonnes of gold a year which the Chinese central bank takes and THEN they also import tonnes more of gold. ie. ALL of Chinese domestic gold production gets hoarded by the Chinese regime.
So does all their silver production and still they import ;-) (apart from panda's...and not a lot of them go out either) For the last year or so they have been the largest producer of gold and a net importer
