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Endeavour Silver Corp. Message Board

  • shiftsuper175607 shiftsuper175607 Oct 24, 2013 1:01 PM Flag

    New article;see headlines tab

    for a link. very good article by one of the better authors at See king Al pha. here is a little of the article...___________
    Eric Sprott, investment analyst and resource specialist has released an open letter to the WGC (World Gold Council) in which he examines ongoing problems with the Reuters GMFS and WGC reporting on gold production and demand. Because Russia and China keep all the gold they produce, Sprott notes that annual world output is about 25% less than the 2800 tons usually cited. Absent Russian and Chinese output all of which is absorbed in-country, 2013 world production (projected from 1H 2013 results) will be 2142 tons rather than 2800. Moreover, the charts and discussion in Sprott's letter show that global demand, led by India, China, Thailand, Turkey, Hong Kong, retail investors and other Central Banks is 5184 tons. YTD outflows from Spider Gold (GLD) and other ETFs have left only about 1900 tons of physical gold to cover this 3000 ton annual gap between demand and supply which current buying trends will widen. "This contradictory situation," Sprott reasonably observes, with "demand for gold extremely strong" while prices on COMEX "have fallen precipitously" has done and is doing great damage to the gold mining industry. Even companies with great metrics and sites (noted below) suffer in the general rout.
    EXK is mentioned in the article. The author likes our company.

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