• Peak Silver – Supply deficits continue meaning higher prices
  • May have experienced a peak in world silver production
  • Global silver market suffered another large net supply deficit in 2016
  • Peak silver likely as global silver production will decline to 887 million oz (Moz), down from 893 Moz in 2015

“While forecasted global silver production for 2016 is down only slightly versus last year, GFMS also stated this in their report:

We estimate that mine supply peaked in 2015 and will trend lower in the foreseeable future.

Declining total supply is expected to be a key driver of annual deficits in the silver market going forward.

I will get to the annual silver deficits in a minute, but let’s look at their world silver mine supply by region:

“What is interesting here, is that GFMS forecasts the number one silver producer, Mexico, to be down in 2016 by more than 6 Moz.  Last year, I forecasted that global silver production would likely be lower in 2015.  I was going by data by the “World Metals Statistics.”  However, Mexico’s INEGI (government agency) considerably revised their figures higher for 2015.  While I have seen revisions take place, the revisions by Mexico’s INEGI for 2015 were quite substantial.

Regardless, GFMS does a pretty good job with the silver mine supply data.  The important take-away here is that the trend of global silver production will likely be lower going forward.”

Read the full report on SRS Rocco here


Silver bullion coins – like Silver Maples, Philharmonics, Britannias, Nuggets (Kangaroos) and Eagles  – are great gifts for loved ones at Christmas time.

product_coins_canadian-maple-leaf-silver-bullion-coinSilver Maples 2016 (1 oz) 

Besides being a wonderful Christmas present for loved ones, they are a great way to pass on wealth to the next generation. They are a great way to teach younger generations the value of savings and the value of insurance against currency debasement and financial collapse.

We have very competitive prices – some of the most competitive internationally. We are now delivering legal tender silver coins, VAT free, in the UK and throughout the EU. Give the most precious of gifts this Christmas.


Gold and Silver Bullion – News and Commentary

Gold little changed as dollar holds losses (Reuters.com)

Gold Posts Biggest Advance in Four Weeks as Dollar Declines (Bloomberg.com)

Oil up ahead of OPEC meeting; dollar, stocks dip (Reuters.com)

London zinc charges to 9-yr high, lead hits 5-yr high (Reuters.com)

Islamic finance body approves standard for gold-based products (Reuters.com)

Bonds set to snap three-decade winning streak as Fed, Trump plot next moves (CNBC.com)

How Donald Trump’s economic plans will lead the Fed to reverse course on policy: Schiff (CNBC.com)

Interventions in gold and currency markets by central banks (GoldSee