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Louis Cammarosano (Smaulgld): Gold Update - Rory Hall (8/9/2017)

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September 8, 2017

After well over a year I finally was able to get Louis Cammarosano, Smaulgld, back on the line for, what we hope, is the kick-off to a more consistent update on the gold and silver “markets”

With both metals enjoying a nice upswing over the past several months it seemed like a good time to take a look around the globe and see what is happening. You can’t really see around the world unless you first look in your own backyard to find out what is happening, which is exactly what we do.

The American Gold Eagle (AGE) sales have fallen off a cliff. So much, in fact, that 2017 very well may be a “key date” in the series. If a person were thinking about adding a little gold to their stack the 1/2 ounce AGE looks like the one to pick up. As we discussed just a few weeks ago, the 1/2 ounce AGE will probably be the lowest minted coin in the history of the 1/2 ounce AGE program. The number of minted coins is currently sitting at 29,000 with only 4 months remaining in the year. With 3 of the previous 9 months drawing a blank, there is a good possibility we will see another month of zero sales of this coin. The premiums on this particular coin are already beginning to rise and we feel this trend will continue for some time – this is investment advice, simply what we see happening with the 1/2 ounce AGE. We will be picking up at least 2 of these coins before years end.

There was more news regarding Russia selling or swapping gold with China released today. Peter Koenig reported Sberbank, Russia’s largest bank, has already sold 440 pounds of gold to China in 2017 and would be “selling” an additional 3-5 tons gold to China in 2017. Also, Sberbank would be selling between 10-15 tons, if not more, to Chinese “financial institutions” beginning in 2018. It is a little unclear if this is in addition to the already committed “up to 100 tons” Russia has agreed to sell China beginning in 2017. Lots of gold flowing between Russia and China.

Russia has continued there steady program of adding approximately 200 tons of physical gold to their sovereign gold horde.

Louis brings a certain calm to the space and discusses gold, and other subjects, from a point of “what do the numbers tell us”. We take a hard look at the relationship between the ETF, paper gold market, and how the COMEX moves in tandem to the paper fluctuations. This makes perfect sense because the global “price” of gold is determined in a fraudulent paper market this is almost completely disconnected from the physical gold market.

We cover a wide range of gold topics in this 30+ minute show. I wouldn’t call an interview, more like two friends discussing the state of the market today. We hope you learn something and have a laugh or two along the way.

Don’t miss a golden opportunity.

Now that you’ve gained a deeper understanding about gold, it’s time to browse our selection of gold bars, coins, or exclusive Sprott Gold wafers.

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Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.

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