Silver Panic Imminent? First the US Mint Suspends Sales… Now It’s Canada’s Turn! New iMac Production Delayed Over Silver Shortage. HSBC Purchases $876 Million Worth Of Silver From Poland. China Likes Silver, The World Likes Silver?!?!
First the US Mint suspends Sales… Now it’s Canada’s turn!
The United States Mint has temporarily sold out of 2013 American Eagle Silver Bullion coins. As a result, sales are suspended until we can build up an inventory of these coins. Sales will resume on or about the week of January 28, 2013, via the allocation process.
Please feel free to call us if you have any questions.
Jack A. Szczerban
Branch Chief, Precious Metals Group
Department of the Treasury
United States Mint”
Investor interest in silver bullion coins remains at high levels with yet another world mint showing signs that it is unable to meet demand. The Royal Canadian Mint is now rationing supplies of its 2013 Silver Maple Leaf.
This move comes one week after the United States Mintsuspended sales of their 2013 American Eagle silver bullion coins after inventories sold out, saying it would ration or limit orders when sales resume. Both series of bullion coins are struck for investors and guaranteed for weight and purity by the issuing government.
A statement offered by the Royal Canadian Mint identifies strong demand as the catalyst for the Maple Leaf rationing:
“We are carefully managing supply in the face of very high demand for SML (Silver Maple Leaf) coins to ensure all our distributors are served and we continue to take sales orders,” states Alex Reeves, RCM Senior Manager of Communications.
“Coming off strong sales volumes in December 2012, demand to date remains very strong for our Silver Maple Leaf and Gold Maple Leaf bullion coins. Specific (sales) numbers will be made available at our regular reporting intervals.”
Silver expert Ted Butler has long predicted and awaited an eventual industrial shortage of physical silver, and a resulting panic silver buying that terminates the bullion bank cartel’s manipulation of the silver market.
Butler may be about to be finally proven correct, if an Apple contractor is right that Apple has delayed production on the new 27” iMacs over an industrial silver shortage in China.
With the US Mint sold out of Silver Eagles and production shut down for the 2nd time in 2 weeks, and shortages of nearly all retail silver products rapidly developing along with spiking physical premiums, it appears that a widespread retail, and perhaps industrial physical silver shortage is developing and escalating by the hour.
I work as a sales contractor for a local independent Apple dealer. I don’ know how many of you closely watch Apple delivery dates, but we received a consignment of the new 21.5? iMacs and then they dried up. We haven’t received any of the new 27? iMacs. Our shelves are bare with lots of backorders. I’ve never seen this before….
HSBC has quietly moved into acquiring large amounts of silver bullion.
The bank has secured another deal to buy silver bars from KGHM which brings their total purchases of silver from KGHM alone in the last 12 months to $876 million or PLN 3.65 billion.
KGHM is one of the largest producers of silver in the world and is the second-largest producer of refined silver in the world.
They produce silver bars registered under the brand KGHM HG that are attested to by “Good Delivery” certificates issued by the London Bullion Market Association and the Dubai Multi Commodities Centre.
Silver’s drawing more and more attention as an investment these days, especially from China.
That appetite has made silver bulls giddy and lifted prices closer to a record.
“Investment demand, not industrial demand, is what drives silver prices right now,” said Mark Thomas, author of email-alert service provider SilverPriceAdvisor.com. “World investment demand is starting to really pick up.”
Chinese citizens are “now buying silver because gold topped out in 2011 and silver is much more affordable,” said Thomas, a silver bull who has recently tripled his exposure to the white metal.
And silver is starting to outshine gold.See Commodities Corner: Gold bulls come out of hiding.
As of Thursday’s settlement on the Comex division of the New York Mercantile Exchange, silver(COMEX:SIH3) has outperformed gold(CNS:GCG3) , with futures prices trading 5% higher this year, compared with a 0.4% loss in gold, and some analysts are touting the white metal’s prospects to achieve a record high this year. Read more on daily gold and silver trading.
from Bullion Street:
American global financial services firm Morgan Stanley cut its gold price outlook for 2013 to $1773 a troy ounce.
The bank also cut silver price outlook for 2013 by 4% to $33.44 an ounce but said silver should continue to outperform gold on a relative basis this year, despite expected volatility, it added.
In a statement, Morgan Stanley however said macroeconomic conditions remain favorable for further price appreciation in the yellow metal.
The statement said the bank remain bullish on the gold price outlook in 2013 despite recent selling pressure triggered by market concerns of an earlier-than-previously-anticipated tightening in U.S. monetary policy.
January 24, 2013, The highlight of the evening was the $10,016,875 sale of the coveted 1794 Flowing Hair silver dollar, a superb Gem Specimen example, the finest known to exist. This set a new world-record price for any coin.