Gold Robberies Continue as Gold Leads for Silver & Platinum Price Rises to Come
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SUBSCRIBE to Our Channel: https://www.youtube.com/c/sdbullion?s... Some supposedly shocking, not-so-shocking news if you follow recent trends in the precious metals world. To start this week, news out of a major airport in Toronto, Canada. It seems a major robbery of gold, originally reported valued at nearly $100 million fiat CAD, today downplayed to only $20 million fiat USD valued likely gold ore up and disappeared. Perhaps stolen from a supposedly secure shipping container with an 18-wheeler.
Common sense suggests surely an inside job, with airport and logistics workers knowing mining to refinery shipping routes of freshly mined or refined gold ore.
Gold illiterate reporters at Bloomberg had the following coverage on this week's reported gold thievery.
Canadian Mounties Looking for Millions of Dollars in Missing Gold
Bloomberg TV: • Canadian Mounties Looking for Million...
Hey, hey! At least the Canadian reporter at the airport called this gold robbery what it is, missing money. The precious stuff governments historically have killed for.
And not talking about some 2-bit Wiley coyote pip squeak gold heist in airport cargo.
No, I'm talking about imperial Japan in 1937 waltzing into the capital city of China, committing unspeakable atrocities in front of western witnesses, and then marching out of the then Chinese capital city of Nanjing with an estimated 6,600 metric tonnes of gold bullion. Over 212 million troy ounces valued at over $424 billion in fiat US dollar valued gold jacked in a few month war campaign.
But that's another history you never got taught the story of another day.
GOLD THEFT HISTORY: Biggest Gold Robbery All Time by Size:
https://sdbullion.com/blog/gold-theft...
Both silver and gold spot prices in fiat US dollars fell slightly for the week's trading.
The spot silver price in fiat USD closes just over $25 oz.
While the spot gold price in fiat USD finished the week just under the key $2,000 per ounce price level.
The spot gold-silver ratio closed flat at 79.
Onwards to the Silver Institute's publishing this week of the World Silver Survey 2023, with updated silver industry data through 2022. And some likely predictions that again will turn out to be incorrect.
First, let me hand the next few minutes off to Indian silver CNBCtv18news journalist Manisha Gupta as she covers some basics from the report.
INDIAN CNBCtv18news
Silver Prices Trade Near 1-Year High Of $25.80 oz fiat USD
World Silver Survey -- • Silver Prices Trade Near 1-Year High ...
The first thing to remember when reading their 88-page report is the World Silver Survey's track record for guessing incredibly wrong: https://www.silverinstitute.org/wp-co...
To start the last year 2022 they guessed that the for the year, the silver supply deficit would only be -20 million oz. Well, they missed the record-sized nearly -240 million ounce deficit that hit this market last year by a factor of nearly 12X. If that was your job to make accurate forecasts, well you wouldn't have a job anymore.
Also, remember that this report is written by Metals Focus, a City of London-based consultancy that surely has no incentives to try and pour cold water on an otherwise red-hot silver demand and potential periphery readership thinking about getting involved.
For anyone watching who knows the real value game being played there long term, I suggest you front these under-allocated low history knowing flock and get prudently positioned before they come scrambling in on a fear of loss trade the likes of which the world has never collectively all at once seen at the same time.
That is all for this week's SD Bullion Market Update.
As always, to you out there.
Take great care of yourselves and those you love.
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