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Something Big Just Happened in the U.S. Mint Gold Eagle Market

SOMETHING BIG JUST HAPPENED IN THE U.S. MINT GOLD EAGLE MARKET

Something BIG just happened in the U.S. Mint Gold Eagle Market this month.  Not only have Gold Eagle sales in the first three weeks of January surpassed last year’s total by a factor of three, but it’s also the highest figure since the 2008-2009 Financial Crisis.  While Silver Eagle sales have been the main focus of precious metals investors in the past year, Gold Eagle sales are now the new spotlight.

In my last update on Jan 14th, Gold Eagle Sales reached 141,000 oz, compared to 60,000 oz in the same month last year.

Thus, Gold Eagle sales on Jan 14th were already more than double the previous year, with still two weeks remaining in the month.  When the U.S. Mint updated their figures earlier today, they reported 62,500 oz sold in the past week.  Remarkably, the U.S. Mint sold more Gold Eagles in the last week than they did for the entire month last year.  The total Gold Eagle sales as of Jan 25th are 203,500 oz.

As we can see, the U.S. Mint has already sold more Gold Eagles this month than they did for the past three January’s combined.  Folks, this is a BIG DEAL.  Investors are concerned about the crazy Fed and Central bank money printing and stimulus that will continue to be pumped into the markets to prop up the U.S. and global economies.  The fundamentals for the precious metals will only get stronger.

However, we believe the metals and miners’ market prices will fluctuate due to HOW THE MARKET TRADES.  We provide updates on the technicals on the markets and metals to better understand the price movements.  Unfortunately, most precious metals analysts only forecast HIGHER PRICES.  This is a disservice to investors.  Nothing goes up in a straight line.

…click on the above link to read the rest of the article…

Silver Eagle Sales Explode During First Two Weeks In January

Silver Eagle Sales Explode During First Two Weeks In January

With the continued disintegration of the economic and financial system in 2021, investment demand for physical precious metals continues to be strong.  After the U.S. Mint posted a stunning 2.7 million Silver Eagles sold during the first week in January, they just posted another update, which already blew past last year’s figure by a wide margin.

Remarkably, just the U.S. Mint Silver Eagle sales for the first two weeks in January accounts for 7% of the average monthly global silver mine supply.  That’s a lot of silver demand, considering the U.S. Silver Eagle sales are only a small segment of the total global silver market.  As I have mentioned in several articles, if we see another record year of physical and ETF silver demand this year like we had last year, the silver price will likely surpass the $35 level.

Now, according to the U.S. Mint’s most recent update, they sold almost 2 million more Silver Eagles this week to the Authorized Dealers.  Total Silver Eagle sales as of Jan 12th, are 4,646,000.  Already, for the first half of the month, the U.S. Mint sold 800,000 more Silver Eagles than during the entire month last year.

What’s interesting about Silver Eagles, even though the quality of .999 silver is less than its closest competitor, the Canadian Silver Maple coin at .9999 silver, the premium is higher.  Silver Eagle premiums can run $1+ more than a Canadian Silver Maple.  But, for whatever reason, Americans continue to buy a lot more Silver Eagles than Silver Maples.

With demand for silver investment reaching a record last year, Silver Eagle sales surpassed 30 million in 2020.

…click on the above link to read the rest of the article…

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U.S. Mint Sells 2.7 Million Silver Eagles First Week Of 2021

U.S. Mint Sells 2.7 Million Silver Eagles First Week Of 2021

With the Fed and central banks pumping up the markets with a record amount of money printing, liquidity, and stimulus, investor demand for precious metals continues to be very strong.  In the first week of 2021, the U.S. Mint sold 2.7 million Silver Eagles.  The Mint also sold 45,000 oz of Gold Eagles.

While Silver Eagle sales are elevated in the first month of every year as the Authorized Purchases are stockpiling the new dated official coin, 2.7 million in the first week is a solid start.  With three more weeks in the month, sales of Silver Eagles may reach 4-5 million.  According to the U.S. Mint website, here is the breakdown in Silver and Gold Eagle Sales.

Unfortunately, the U.S. Mint didn’t show any Platinum or Palladium Eagle sales so far in January.  The U.S Mint didn’t sell any Palladium Eagles in 2020 and stopped producing Platinum Eagles in May.  With a tightness in the Palladium market, it’s no wonder the U.S. Mint hasn’t sold any of these coins for quite a while.

Demand for precious metals continues to be strong even though we see NOISE BLEED price levels for Bitcoin.  Bitcoin surpassed $40,000 today.  Both Tesla and Bitcoin are perfect examples of TULIP BUBBLES ON STEROIDS.  If investors want to know Tesla’s REAL FAIR VALUE, you need to check out the Silver Member post below.

Regardless, Silver Eagle sales in 2020 surpassed 30 million while Gold Eagles totaled 844,000 oz.  Amazingly, the U.S. Mint has sold over a half-billion Silver Eagles and 24 million Gold Eagles, which turns out to be a 23/1 Silver to Gold Eagle ratio over the 1986-2020 period.  However, the ratio last year was 36/1.  Thus, the U.S. Mint sold 36 times more Silver Eagles than Gold Eagles in 2020.

…click on the above link to read the rest of the article…

 

GEOPOLITICS & EMPIRE INTERVIEW: The Energy Cliff, Green Energy Myth, Gold, Crypto, & Mad Max Future

GEOPOLITICS & EMPIRE INTERVIEW: The Energy Cliff, Green Energy Myth, Gold, Crypto, & Mad Max Future

With the world heading into deeper troubles in 2021, I sat down and chatted with the folks at Geopolitics & Empire.  In the interview, we discussed the impact of the coming ENERGY CLIFF on the global economy and markets.  We also talked about how this would impact Green Energy, gold, and the cryptos.  While some think we are heading towards a Mad Max scenario, I believe it will be different.

Even though the world is heading towards a collapse, due to the coming ENERGY CLIFF, it will likely take decades to play out.  Thus, over time, the situation becomes grimmer.  So, for those who want to prepare for the negative impacts of the energy cliff, it’s best to work steadily towards an alternative gameplan than to try to do it overnight.  But, as time goes by, it will become more difficult to make the changes.

Unfortunately, as the light-bulb goes off in citizens worldwide, access to country living may become harder in the future as country homes and small farms are snatched up and are no longer sold.  I see this as a likely scenario that will play out much similar to individuals stockpiling toilet paper during the pandemic’s early days.  Those who get the toilet paper first will have supply while those who come later, might not be able to get any.

However, toilet paper can be replaced, but not the small number of country homes and small farms.  Once those are bought up and held by families that realize they are STAYING… it will be hard to acquire these types of properties… even at much HIGHER PRICES.

I will be providing more details in articles and videos on this type of information in 2021 and onwards.

 

The Collapse Of U.S. Shale Oil Production Has Now Begun

The Collapse Of U.S. Shale Oil Production Has Now Begun

It’s Official.  The collapse of U.S. shale oil production has begun.  The mighty Shale Oil BOOM has now finally turned into a BUST.  While the pandemic shutdowns sped up the process, the collapse of the U.S. shale industry was going to occur, regardless.  According to the U.S. Energy Information Agency, shale oil production will continue to decline below 7.5 million barrels per day in January.

At the peak last year, the top five shale oil fields combined production reached nearly 9.2 million barrels per day.  Since the shutdowns during March-April, many of the companies curtailed shale oil production.  However, all of these wells have now been brought online, but the massive decline rate is kicking in due to a lack of drilling and completion activity.

As we can see in the chart below, shale oil production in these five fields fell from 9.16 million barrels per day during the peak in 2019 to 7.27 million barrels per day forecasted next month (January).

In a little more than a year, the combined shale production from these five fields declined by 1.9 million barrels.  The data in the chart above is shown in thousand barrels per day.  According to Shaleprofile.com, these five fields add more than 11,000 new wells in 2019.  In looking at the new well trend data for Jan-Oct 2020, I would be surprised to see more than a total of about 5,000 wells added this year.

While the Permian suffered the highest decline in shale oil production, the biggest loser in percentage terms was the Anadarko Field.  Oil production from the Anadarko declined from 603,000 barrels per day (b/d) at the peak last year to a forecasted 363,000 bd in January.  That’s a stunning 40% decline in a little more than a year.

…click on the above link to read the rest of the article…

The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up

The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up

U.S. demand for silver continued to remain strong as imports surged higher in September after a decline in August.  However, the opposite was true for India as silver imports during the same month collapsed to an all-time low.  What a difference in just a few years as India imported nearly 500 metric tons on average a month last year.

According to the data from GoldChartsRUs.com, India’s silver imports in September fell to only 11 metric tons (mt) compared to 169 mt during the same month last year.  That’s a 93% decline year-over-year.  Interestingly, during July last year, India imported an average of 33 mt of silver A DAY.  However, in September this year, it was a total of only 11 mt.  Gosh, that’s a tad bit more than 350,000 oz.  What’s going on?  Of course, the pandemic likely was part of the reason for the decline in silver imports, but the silver price rise to an average of $27-$28 during September likely curtailed buying by savvy Indian investors.

While India’s silver imports nearly dried up in September, it was a totally different story for the United States.  Total silver imports jumped to 745 mt in September, up from 524 mt in August.  When be put India and U.S. silver imports side-by-side, we can see a huge difference.

The United States imported 66 times more silver than India in September.  In just the past three months (JUL-SEP), U.S. silver imports totaled 2,309 mt, or 74 million oz.  As we can see, the U.S. has imported roughly 2.5 times more silver than India during the first three-quarters of the year.  The majority of U.S. silver imports were in bullion form.

The next chart shows just the U.S. silver bullion imports for Jan-Sep.

…click on the above link to read the rest of the article…

BREAKING NEWS: Shocking Increase In U.S. Money Supply In Past Two Weeks

BREAKING NEWS: Shocking Increase In U.S. Money Supply In Past Two Weeks

The increase in the U.S. money supply in the past two weeks is absolutely shocking.  Something must be seriously wrong behind the scenes at the U.S. Treasury and Federal Reserve for the M1 Money Supply to increase more in the past two weeks than it did in six weeks during the beginning of the pandemic shutdowns in late March.

I wrote about this in my last subscriber video, INVESTOR WARNING: Markets Just Propped Up By Half-Trillion In Liquidity, Brace For Major Correction Ahead.  In just one week, the M1 Money Supply surged by $498 billion.  While that was stunning, I was quite shocked to see another huge increase in the past week.

The FRED – St. Louis Federal Reserve just updated their M1 Money Supply figures showing another increase of $312 billion, on top of the $498 billion added the week prior.  So, the total increase in the U.S. M1 Money Supply for Nov 16th to Nov 30th is a shocking $809 billion.  Compare that to the $388 billion increase from Mar 16th to Mar 30th when the pandemic shutdowns first began.

Do you know how much $810 billion equals?  That turns out to be four years of global gold mine supply totaling 440 million or 40 years of global silver mine supply of 32 billion oz.  This is beyond stunning to see this much of an increase without any news release by the U.S. Treasury or Federal Reserve.

Of course, it made sense to see the M1 Money Supply to increase after the pandemic shutdowns and stock market meltdown… BUT WHY NOW???  Take a look at the following chart from the St. Louis Fed (FRED).

From March 16th to April 27th, the U.S. M1 Money Supply increased $773 billion… six weeks.  Why on earth has the M1 Money Supply increased $810 billion… in TWO WEEKS!!!

…click on the above link to read the rest of the article…

GREEN ENERGY DOUBLE-TALK BEGINS: First Major Oil Producer Announces Deadline to End Oil Extraction, But There’s A Catch

GREEN ENERGY DOUBLE-TALK BEGINS: First Major Oil Producer Announces Deadline to End Oil Extraction, But There’s A Catch

According to the Washington Post article published yesterday, Denmark was the first major oil-producing country to announce a deadline to end oil extraction. While this may sound like a “Victory” for the Green Energy Movement, there’s a catch. While Denmark announced that it would end all oil extraction by 2050, the country will likely run out of oil reserves well before that date.

I find this quite hilarious because all anyone has to do is look at a bit of data, and you can find out that Denmark’s oil-producing days are quickly coming to an end… WITH OR WITHOUT GREEN ENERGY.

The Washington Post article titled, Denmark becomes first major oil-producing nation to set deadline to end extraction, stated the following:

The decision was applauded by some environmental activists, with Greenpeace celebrating it as a “watershed moment,” although other groups had hoped for a faster timeline.

Denmark’s new rules mean companies will be barred from receiving new licenses to search for and extract oil and gas resources. Previously issued licenses will remain valid until 2050.

Denmark is the top oil producer in the European Union, but it has come under mounting pressure as the E.U. aims to become carbon-neutral within the next 30 years.

“It’s a historic decision for Denmark,” Dan Jørgensen, the Danish climate and energy minister, told The Washington Post in an interview Friday.

Please note the BOLDED text in the quote from the article above. What a laugh indeed. “The decision was applauded by some environmental activists??” Are you kidding me?? Even Greenpeace celebrated it as a “WATERSHED MOMENT.” Listen, I really admire some of the work being done by Greenpeace, but this is pure BOLLOCKS.

…click on the above link to read the rest of the article…

Silver Eagle Sales Surge To Highest Level In Nine Months & SRSrocco Report Interview With Palisades Radio

Silver Eagle Sales Surge To Highest Level In Nine Months & SRSrocco Report Interview With Palisades Radio

Investor demand for precious metals remains strong as the U.S. Mint Silver Eagle sales in November were the highest in nine months.  Not only were Silver Eagle sales the highest since March, when the pandemic caused investors to wipe-out inventories, but Gold Eagle sales also jumped by another 25,500 troy oz this past week.

According to the U.S. Mint data, Silver Eagles sales increased from 4,081,000 on Nov. 23rd to 4,805,000 on Nov 30th.  Total Silver Eagle sales for 2020 are now 29.3 million.

Silver Eagle sales in November at 4.8 million are the second highest in the year compared to the 5.5 million sold in March when the silver price fell to $12 during the stock market crash due to the pandemic lockdown.  It seems likely that Silver Eagle sales will reach and surpass 30 million this year.

UPDATE DEC 1st 2:30 PM MST:  It looks like the U.S. Mint sold another 276,000 Silver Eagles on the first day of December.  Total Silver Eagles for 2020 are now 29.6 million.  I believe we may even see 31 million sold for the year.

Furthermore, in November, Gold Eagle sales reached 88,000 oz for a total of 794,500 oz for the year versus 152,000 oz for full-year 2019.

As I have stated many times, I believe we are just beginning to see the MASSIVE SURGE of precious metals investment demand over the following years, especially in 2021.  There is so much CARNAGE taking place in the U.S. economy that hasn’t been factored into the stock markets or mainstream media.

Here is my interview with Tom Bodrovics at Palisades Radio, which we recorded last week on Friday:

Americans Are Leading The World By Hedging Their Bets In Silver

Americans Are Leading The World By Hedging Their Bets In Silver

When it comes to silver, Americans are leading the world in hedging their bets in the shiny metal.  This year, Americans have purchased one out of every three ounces of physical silver bar and coin compared to the rest of the world.  And, that’s not all.  If we also consider total Silver ETF demand, the U.S. based SLV ETF has seen its inventories increase by over 200 million oz in 2020.

Thus, Americans have purchased nearly half of all the global physical and ETF silver investment this year.  According to the Metals Focus Silver Interim Report for the Silver Institute, the U.S. is projected to see a 62% increase in physical silver bar and coin demand this year over 2019.  Based on the 2020 World Silver Survey data, total U.S. physical silver demand was 48.2 million oz (Moz) last year.  Simple math puts the total estimate for U.S. silver bar and coin demand at 78 Moz in 2020.  With global physical silver investment to be 237 Moz this year, the U.S. accounts for one-third of the total.

Furthermore, the U.S. based iShares SLV ETF, saw its inventories increase more than 200 Moz this year, accounting for two-thirds of the total 300 Moz growth in global silver ETFs.

Now, I don’t know if all that silver is located in the SLV ETF vaults, but it is still an excellent indicator revealing the increasing need for Americans to place more of their wealth into silver.  I believe this is only the beginning of a rising trend that will continue over the following years.

…click on the above link to read the rest of the article…

The Main Driver Of The Global Gold Market Totally Reversed This Year

The Main Driver Of The Global Gold Market Totally Reversed This Year

Something quite interesting took place in the gold market this year that hasn’t happened before.  Let’s just say the global gold market’s main driver has totally reversed and is setting a new precedent.  However, this is just the beginning as the world hasn’t quite figured out how bad the situation will become as the global economy continues to disintegrate.

So, what’s the main driver of the gold market this year??  Well, I can tell you what it isn’t… it’s not gold jewelry demand.  World gold jewelry demand has been the leading driver of the gold market for decades.  The chart below shows how much more annual gold jewelry demand has been versus investment demand over the past decade.

If we add up all the annual totals for the 10-year period, there were 22,734 metric tons of gold jewelry demand (731 million oz) versus 13,015 metric tons of net gold investment demand (418 million oz).  And, if we go back to 2000 or 2001, the ratio was much worse.  According to the World Gold Council Gold Demand Trends data, there was a total of 166 metric tons of retail gold investment in 2000 compared to 3,204 metric tons of gold jewelry demand.  So, the main driver for the gold market before the 2008-2009 financial crisis was jewelry demand.

However, this all changed in 2020 as the pandemic forced the Fed and Central Banks to do what they do best… PROP UP THE ECONOMY & FINANCIAL SYSTEM, but on steroids.  This has a profound impact on global gold investment, especially in the west.

As we can see in the chart below, global gold jewelry demand reversed with investment demand as being the main driver of the gold market.

…click on the above link to read the rest of the article…

Australia’s Perth Mint Silver Bullion Sales Surge In 2020

Australia’s Perth Mint Silver Bullion Sales Surge In 2020

With the newest update just released, Perth Mint silver bullion sales surged in the first three quarters of 2020.  And, for the first time in many years, the Perth Mint sold more than two million oz of silver bullion in a single month this year.  The official silver coins produced by the Perth Mint are the Silver Kangaroo, Koala, and Kookaburras.

Not only are the Perth Mint’s silver bullion sales up significantly this year, but gold bullion sales are also up a stunning 160% higher than the same period last year (info from CoinNews.net).  The Perth Mint sold 579,644 oz of gold bullion Jan-Sep this year versus 223,821 oz in 2019.

According to the data published on CoinNews.netPerth Mint silver bullion sales for Jan-Sep increased to 13.1 million oz compared to 7.8 million oz during the same period last year.  That’s a 68% increase year-over-year.

Furthermore, U.S. Mint Silver Eagle sales of 24.5 million oz are up 66% compared to the 14.8 million sold for Full-Year 2019.  So, with two more months remaining in the year, there is a good chance that Silver Eagle sales will reach 28-29 million, nearly double what they were in 2019.

I will update the Royal Canadian Mint’s Silver Maple and billion sales in an upcoming article.

With demand for physical silver bullion up significantly this year, along with the global Silver ETFs, if we see another year like this in 2021, watch out for much higher prices.

U.S. MINT SEPTEMBER SALES: 134 Times More Silver Eagles Sold Than Gold Eagles

U.S. MINT SEPTEMBER SALES: 134 Times More Silver Eagles Sold Than Gold Eagles

With the enormous investor demand for Silver Eagles, the U.S. Mint sold nearly three million official coins in September.  While this wasn’t the highest monthly amount this year, it was a record when we compare the Silver Eagle sales to Gold Eagles.  And, it seems that U.S. citizens are purchasing the majority of the Silver Eagles as Americans prefer silver bullion coins (and rounds) over bars.

For those who might be new to the precious metals market, the official coins such as Silver Eagles, Maples, Philharmonics, Krugerrands, Kangaroos, Britannias, Pandas, and Libertads are known as “COINS.” In contrast, private rounds such as Buffalos, Walking Liberty, etc are labeled as “ROUNDS.”

While some investors prefer the Silver Maples because they have a better fineness (99.99% silver) versus the Silver Eagles (99.9% silver), there has been one heck of a lot more Silver Eagles sold and held in the market than Maples.  I don’t have a total Silver Maple Leaf coin figure because the Royal Canadian Mint stopped providing updates since 2015 on the amount of Gold & Silver Maples sold.

Regardless, here is an updated chart of the total Silver Eagles sold to date since 1986.

A total of 556 million Silver Eagles and 23.8 million Gold Eagles were sold from 1986 to September 2020.  That’s a half-billion oz of Silver Eagles sold since the U.S. Mint began producing them in 1986.  The ratio of total Silver Eagles to Gold Eagles over the 35 years was 23/1.  However, if we look at the ratio for September this year, it’s considerably higher.

The U.S. Mint sold 2,958,500 Silver Eagles and 22,000 oz of Gold Eagles during September.  Thus, the ratio was 134 times more Silver Eagles than Gold Eagles.  The average ratio over the 2016-2019 period was 64/1.

…click on the above link to read the rest of the article…

THE FORMER INDUSTRIAL METAL: The Silver Price Surges As Copper & Oil Get Crushed

THE FORMER INDUSTRIAL METAL: The Silver Price Surges As Copper & Oil Get Crushed

The notion that silver is just an “Industrial Metal” was utterly destroyed today as both the copper and oil prices were crushed as silver surged higher.  This is precisely what I was looking for as a positive sign showing that silver is now disconnecting itself from the INDUSTRIAL METAL BALL & CHAIN.

While analysts will continue to regurgitate that the future silver price depends on industrial demand, we can now take this analysis and throw it into the dustbin.  The world is heading into a new paradigm of “Building Wealth to Protecting Wealth.”  And let me tell you, you cannot protect wealth in most STOCKS, BONDS, or REAL ESTATE.  Those days are over for good.

Unfortunately, 99% of investors still haven’t figured that one out yet… but they will.

Today, it was quite an impressive day for silver (and gold) as the metals surged higher while copper, the king industrial metal, got destroyed.  Here is a chart of the copper price versus silver.

As we can see, copper is down 5% while silver is up 2%.  Thus, the leading indicator of the global economy, COPPER, just put out a very BAD SIGNAL, indeed.  Now, if silver was just a mere industrial commodity, why didn’t it’s price follow along with copper???

And, if that isn’t bad enough, take a look at the WTI Oil price.  The West Texas Intermediate oil price was down 5% as well.

With the U.S. oil price falling $2 in one day, that just wiped out $21 million in oil revenues to the oil companies.  This is also terrible news for the U.S. Shale Oil Industry is being held together by DUCT TAPE, BAILING WIRE, and ELMERS GLUE.

Today, I also posted the broad selloff in oil on my SRSrocco Report Twitter feed:

…click on the above link to read the rest of the article…

THE INSANITY CONTINUES: Massive Diesel Engines Used To Balance Australia’s Renewable Energy Fiasco

THE INSANITY CONTINUES: Massive Diesel Engines Used To Balance Australia’s Renewable Energy Fiasco

Thus, if we have stupid solutions then we must use stupid bandaids.  Again, the insanity continues.

The credit for the information in this brief article goes to StopTheseThings.com, which focuses on the problems associated with wind and solar power generation.  The article, Ships Ahoy! Giant Diesel-Fuelled Ship Engines ‘Solution’ For Australia’s Renewable Energy Crisis, provided me a few good laughs and the desire to share it on the SRSroccoReport.com.

Here is a picture of the Wartsila 50DF Diesel Ship Engine:

Notice the two workers next to the engine?  That should give you an idea of the size of this beast.  According to the article linked above, AGL Energy Limited has installed 12 of these engines at the Barker Inlet Power Station in Torres Island, Australia.  The total output from these dozen ship engines is rated at 210 MW (MegaWatts).

Here’s another picture of Wartsila’s 50DF Diesel Ship Engine at the factory plant.

These Wartsila engines can run on diesel, natural gas, and bunker oil.  Can you imagine how much fuel a dozen of these engines consume to balance the power lost from wind and solar generation??  If you read the article linked above, which I highly recommend, wind power generated in Southern Australia can see drops of 3,000 MWs!!

…click on the above link to read the rest of the article…

Olduvai IV: Courage
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Olduvai II: Exodus
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