20% tax on Mexican Silver?
United States Imports About a Third to over Half of its Annual Silver Requirements From Mexico.
President Trump Stirs up Uncertainty with Immigration Ban and Talk of Tariffs and Wall Building.
Trump’s Mexican Border Wall – The Maginot Line?
Click here to see the Smaulgld commentary video to this report below.
Top stories: Trump turmoil over immigration ban, remarks on Mexico.
Top economic story of the week: Silver rises for the fourth week in a row, gold slips.
While many were concerned that a Trump tariff on Mexican goods (to pay for the wall) would increase the price of Corona beer and Mexican Tequila, a tariff would also increase the prices of fruits, vegetables and silver.
Many of the top silver mining companies are located in Mexico, including world’s leading Fresnillo.https://smaulgld.com/top-silver-mining-countries/
- Mexico produced about 20% of world silver supply 189moz of 886 moz in 2015
- US imported about 215moz of silver in 2015 of which about 33% came from Mexico (70moz)
- US Import Sources (2011–14): 2011: 206moz, 2012: 163moz, 2013: 163moz, 2014: 159moz of which were provided by Mexico, 54%; Canada, 26%; Poland, 4%; Peru, 3%; and other, 13%
- Mexico exported about 37% of its silver to the U.S. in 2015
- The U.S. mint used over 37 moz in 2016 to produce American Silver Eagle and America The Beautiful coins and over 47 moz in 2015.
- US silver production was 35.4 moz in 2015.
USGS: Tariff: No duties are imposed on imports of unrefined silver or refined bullion.
Gold and silver.
Gold closed last week at $1209.80 an ounce and closed this week at $1191.30 down 1.5%
Silver closed last week at $17.06 an ounce and closed this week at $17.12 up 0.4%
The gold and silver ratio ended the week at 69.59:1
You Tube Notes to this report
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Charts of the week
The top two silver mining countries, Mexico and Peru increased their output in 2015.
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Here are the stories we wrote, followed or commented on.
January 23, 2017
Gold
Mongolia to increase gold reserves to 150 tons by 2020
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
January 24, 2017
U.S. Mint Sales Update
U.S. Mint reported selling 150,000 American Silver Eagles and 4,000 American Gold Eagles today.
MTD American Silver Eagles sold 4,722,500 & American Gold Eagles sold 74,000
YTD American Silver Eagles Sold 4,722,500/American Gold Eagles sold 74,000
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 0
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 28,000 sold
YTD 28,000 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
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January 25, 2017
From Smaulgld.com
Silver
Fresnillo logs record gold and silver output for 2016
Volkswagen Put an Invisible Layer of Silver in Its New Windshields to Melt Away Snow
US Economic Data
US MBA Mortgage Applications +4.0%, Last +0.8%
Purchases +6.0%, Last -5.2%
Refis +0.2%, Last +6.8%
US Home Price Index +0.5%, Exp. 0.4%, Last 0.4%
U.S. Mint Sales Update
U.S. Mint reported selling 175,000 American Silver Eagles and 0 American Gold Eagles today.
MTD American Silver Eagles sold 4,897,500 & American Gold Eagles sold 74,000
YTD American Silver Eagles Sold 4,897,500/American Gold Eagles sold 74,000
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 20,000 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 0 American Gold Buffalo coins.
MTD 28,000 sold
YTD 28,000 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
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January 26, 2017
Gold
Indian households have record gold hoard of Rs 24,000 tonnes worth $800 bn
India mulls reviving colonial-era #gold mines with $2 billion reserves
US Economic Data
Dec. New Home Sales Fell to 536K; Est. 588K
US Service PMI Jan 55.1, Exp. 54.4, Last 53.9
Wholesale Inventories Dec. 1.0%, Exp. 0.1%
Initial Claims 259K, Exp. 247K
US Goods Trade Balance -$65.0Bn, Exp. -$64.5Bn
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eagles and 1K American Gold Eagles today.
MTD American Silver Eagles sold 4,897,500 & American Gold Eagles sold 75,000
YTD American Silver Eagles Sold 4,897,500/American Gold Eagles sold 75,000
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 29,000 sold
YTD 29,000 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
Donate To Smaulgld.com via paypal
January 27, 2017
Gold
Govt plans to revive colonial-era gold mines with $2 billion reserves
Priest smuggling gold bars disguised as chocolate caught by Indian officials
US Economic Data
Q4 GDP 1.9%, Exp. 2.2%
Consumer Confidence 98.5, Exp. 98.1
War on Cash
Europe proposes restrictions on cash payments
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eagles and 5,000 American Gold Eagles today.
MTD American Silver Eagles sold 4,897,500 & American Gold Eagles sold 80,000
YTD American Silver Eagles Sold 4,897,500/American Gold Eagles sold 80,000
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 30,500 sold
YTD 30,500 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
You can compare American Gold Buffalo coins for sale at these websites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
January 27, 2017
From Smaulgld.com
BLEEDING GOLD RESERVES AT THE FASTEST PACE EVER, THE U.S. CLOSES THE GOLD WINDOW
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