The Phaserl


NAV Premiums of Precious Metal Trusts and Funds – Why There Is No Recovery

from Jesse’s Café Américain:

Another 7,285 ounces of gold bullion were redeemed from the Sprott Physical Gold Trust. My friend Arby had an interesting observation. I have not checked it out specifically. I thought Australia was in second place, but I have not looked at the latest figures for 2014. But if the numbers are generally right, which they seem to be, it gives us some idea of the magnitude of what is going on.

US 52 WEEKS gold mine production 2014 (estimate from Mineweb) … … 210 tonnes

China first 3 WEEKS gold imports 2015 (calculated by Koos Jansen) …. 202 tonnes

The largest producer of gold is China, second Russia, third USA.

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