Barclays : SILVER exhibited its weakest month in two years

Barclays Capital’s commodity strategists this morning predict more tough sailing for the price of gold. They’re just as bearish on silver.
From the note:

On silver:

On the industrial demand side, silver imports into China were the weak spot in April’s trade data and reaffirm our negative view on the metal. Imports were down 28% y/y at 172 tonnes, while exports were up 21.5% y/y at 85.7 tonnes, keeping China a net importer of the metal. Once again, the weakness in silver was across the board, from powder to jewellery; unwrought silver suffered the sharpest decline at 29% y/y, while powder imports were down 28% y/y. Given that investor appetite also remains soft, silver is set to remain significantly oversupplied.
A considerable amount of weakness stemmed from the ETP outflows, which had been relatively resilient compared with gold until May. While outflows were still weak for gold in May, silver exhibited its weakest month in two years with outflows tallying over 500 tonnes. May’s activity almost eliminates inflows for the year to date, but outflows over the past two months only make up 3% of total holdings. Silver coin sales, on the other hand, have been quite strong. The US Mint has reported sales exceeding 100 tonnes every month so far this year with June on track to surpass 100 tonnes


MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

Unsustainable Silver Prices

First Quarter 2013 True All-In Cost Silver Industry Figures: Unsustainable Silver Prices


Over the last month we have been analyzing and posting the silver industry's true costs to mine each ounce of silver. We have analyzed all the major publicly traded primary silver producers, which includes close to 19 million ounces of mined production for Q1FY13 - a very large portion of the total worldwide production of silver (estimated at over 190 million for Q1FY13). We believe our numbers represent a large enough portion of mined production to extrapolate as a general figure across the industry.

Why These Costs Are Important
For silver ETF investors (SLV, SIVR, CEF, and PSLV) this metric is very important because it allows an inside understanding of the true costs associated with producing each new ounce of silver. This is arguably the most important metric in analyzing any commodity because it shows the price where production of that commodity becomes uneconomic. If it costs more to mine a commodity than the market is willing to pay for it, eventually producers will stop producing the commodity and close up shop. These are the type of environments that savvy commodity investors dream of because it allows them to purchase assets that cost more to produce than to buy, which is an environment that cannot last for very long because eventually supply will be lowered, cause scarcity, and then the price will increase.
http://seekingalpha.com/article/1496552-first-quarter-2013-true-all-in-cost-silver-industry-figures-unsustainable-silver-prices?source=google_news
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

Silver Investment Demand: The Ticking Time Bomb

Steve St. Angelo, SRSrocco Report | Monday, June 10th

Even though silver investment demand has picked up recently due to the lowest prices in over two years, this may be just the tip of the iceberg for what is to come in the future. Currently, only a small fraction of investors understand silver's future potential but that will change in the next few years.

Presently, the Main Stream Media bandwagon has been quite busy putting out bearish analysis on silver demand and price. Whether it's due to a decline of industrial demand or a lack of silver investment by those in India, there doesn't seem to be a shortage of this sort of commentary. However, this should not be a concern for those who understand the true fundamentals in owning silver.

The underlying problem with this present bearish commentary is that it is so typical coming from an industry that provides forecasts based on superficial, outdated and manipulated data. The world's financial system is being propped up by trillions of dollars of worthless paper instruments that have totally distorted the market's ability to value assets correctly. Some of these so-called assets are severely inflated, while others such as silver, are tremendously undervalued.

Severely Inflated Supposed Assets

According to the Investment Company Institute's Q4 2012 report, the U.S. Retirement Market was valued at $19.5 trillion, up from $19.3 trillion in previous quarter:

Q4 2012 Retirement Market Break-down (in trillions)

IRA's = $5.4

DC Plans = $5.0

Private DB Plans = $2.5

State & Local Govt. Pension = $3.2

Federal Pension Plans = $1.6

Annuities = $1.7

TOTAL = $19.5 trillion

Now, if we compare that data to the ownership of gold and silver, we have the following:

http://www.silverseek.com/node/12170



MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

India: Govt told to raise import duty on Gold

KATHMANDU, June 7: Gold traders have requested the government to raise import duty on gold.

They made such a request arguing that duty hike on gold in India would spur smuggling of yellow to the southern neighbor at a time when the local market is facing shortage of gold.

India on Wednesday hiked gold import duty from 6 percent to 8 percent to curb its current account deficit.

“At a time when the domestic market is facing gold shortage, the recent duty hike in India might increase gold smuggling to India,” Mani Ratna Shakya, president of Federation of Nepal Gold and Silver Dealers´ Associations, told Republica. “Hence, we have requested the government to hike the duty as soon as possible.”

If customs duty on gold is raised in line with India, the yellow metal will be dearer in the domestic market by around Rs 1,000 per 10 grams. But traders have requested the government to increase the import duty by at least Rs 1,500 per 10 grams to prevent smuggling of gold to India.

“If the government does not raise duty immediately, the duty hike in India, which has made gold expensive there compared to the local market, will encourage smugglers to illegally export the yellow metal to India to get Indian currency which is selling at higher rates in black market,” Shakya added.
 http://www.myrepublica.com/portal/index.php?action=news_details&news_id=55836


MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

The Silver Scandal - The Long War On Silver

The Silver Scandal - The long war on silver covers an interesting 70+ year old article covering the silver shortage in WW2 and is very interesting because it covers silver being "used up" and also cover silver leasing and silver certificates.

MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet