gold news

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The silver institute is forecasting that investors will buy 200 I think it's 200 million ounces of silver in in investment gold this year. When you divide that number out by the you know the population of the planet you'll find that one person in 45 or something like that can have 1 ounce. Now, I know half the world probably can't afford anything in silver, but even so, if you think about it, if you have 1 ounce of silver alone, you're already ahead of the other 46 who won't be able to have it because

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there is there just isn't enough if that 200 million ounces figure that estimate going into investment demand is correct. If that if that figure it turns out to be 400 million ounces cuz actually there's more than one person of 47 wants to buy an ounce or that one in 47 persons wants to buy 2 ounces. Well, where's it going to come from? The mind output is relatively illastic. So the only place that extra silver can come from is recycled silver. And the only way you get recycled silver is to have a

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higher price than yesterday. Welcome to Gold Silver News, your go-to destination for all things economics and finance. Whether you're an experienced investor, an inquisitive student, or just someone who wants to stay ahead in today's everchanging economic landscape, you've come to the right place. Now, we'll show you the best scenes of the latest interview. But first, smash the subscribe button, hit the like button, and send us super thanks if you find our daily recaps valuable. Enjoy the

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episode. We've seen a lot more central buy bank buying in the last few years and many of the indicators are that some central banks are buying gold and not telling anybody about it. They're they're doing it covertly. The biggest candidate for that is China where they have about they they produce about 20% of the world's gold from their own mines. Uh there's also um uh and I don't have concrete evidence of this, but there's a lot of people who seem to have done the research and got the evidence.

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There's also large quantities of 400 ounce bars being exported from Switzerland and the UK to China. And these are not the sort of bars which are used at the Shanghai Stock Exchange, which uses 1 oz, 3 oz, 100 oz bars. uh and then and they're not the sort of bars which are used in the jewelry industry. So these are the sort of bars which are used by central banks for storage. So there's the internal production of coming from the China's own gold mines per perhaps 20% of it going into their reserves, secret

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reserves. Uh we've potentially got a lot of bars moving to China which we don't know where they're going but they're the type of bars which would be held by central banks. And then the last thing we've got is since 2014, China's official reserves, which is basically treasury bonds and gold and special drawing rights, the official reserves have plateaued. Now, that's odd when China's trade surpluses have ever since continued to climb every year. Their trade surplus has been uh

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climbing, their current account surplus has been climbing. So for decades before that as these as this trade surplus was climbing the reserves would go up. It wasn't a one for one match but you know more surplus trade means more money in the central bank. Suddenly it seems to have plateaued since 2014 which kind of implies they're still potentially building up the reserves but they're not reporting it. So they're why are they not reporting it? Because perhaps it would hack off the Americans to know

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they're buying gold. So they are buying a little bit gold. That's officially reported numbers, but the numbers that they're buying, whilst they're pushing up gold as a percentage of their reserves in the on the balance sheet, it's still looking like it's relatively small, but reality it's probably quite big. And I expect there's central banks around the world, which are also um building up reserves. I I saw an article saying that um there's less central banks now reporting their gold purchases

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than ever before. Uh so implication is there's probably a lot of buying and that's probably why the gold price has reached an all-time high uh of 4,000. Well, the high was a bit higher than that, 4,400, but let's call it 4,000 for simplicity. And simply be speaking, most central banks are insensitive to the price. They don't care. They're they're not buying with a plan to sell tomorrow to make a profit. They're buying because they want a plan B which does not involve the dollar. Would you agree with

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the statement that in general masses in the west are still not that involved with this market? >> I believe that up until a week or two, a few weeks ago, the maybe only for a week or two in when it was gold was peaking, there were net purchases in the ETFs, but long and short of it is the number of tons of gold held by the exchange traded funds in the west have have been kind of falling. So as the price went up, retail investors have been coming out of gold and going into tech stocks but the gold price keeps going up. So

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it's not the retail investors who are involved in the market. It's someone else. And now these could be big hedge funds. It could be central banks. It could be the government US government itself. We don't know. But there's someone out there who is buying gold at the same time as retail investors are selling it. Why? Who is this buyer? Who are these buyers? We don't know in terms of the public at large getting involved, we're still a long long long way away from it. Um, if if you look at it, just

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a tiny fraction of Nvidia's market cap or Microsoft market cap or Apple's market cap and so on, if that was to find its way into the gold mining sector, Nvidia's market cap could buy the entire gold mining sector four times over if the price was where it is today. So if you could imagine just even a tiny percentage of divvidia going to the gold mining sector, those shares would go through the roof. And now we've seen a very large rise in gold mining stocks this year indicating that there is some

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interest in gold. But I I can tell you factually that many banks who say they've been uh promoting gold don't actually have any gold in their client portfolios yet or just starting to put it in. I think it will go in in 2026. It's a very long and difficult process when you decide to go from zero in an asset allocation to anything above zero for any asset you like. Um, I know that because I've worked in banks all my life, but just so I mean people think, oh, excuse me, the bank decides we're

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going to put 5% of gold and it's done. It it doesn't work like that. Let's say the chief investment officer decides that 5% of gold would be a good idea as opposed to zero or or 1% or whatever the number is. There's multiple departments now need to be involved. You need to have the legal and compliance departments involved to make sure that is legal under the rules of the country in which you're operating. You need to have look at the types of clients to find out if there are certain types of

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clients where that would be not allowed. For example, in Europe, if you take Luxembourg insurance policies, which are there's many of them investing through Switzerland, the Luxembourg insurance rules do not permit the holding of physical gold. So you know these are things these are things which legal and compliance have to look at. You made a decision to do it but they got to look at it and say okay let's take it client. It may be illegal or not allowed for clients in certain countries. Then

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you've got to look at how are you going to get your exposure to gold. Do we buy the physical metal? Do we hold gold in account? Do we have an ETF? Do we do it through the miners? Do we make a customized instrument, a structured product to do it? Do we go for a hedge fund? uh you know there's lots of different ways of getting it that exposure. So that has to be examined by a department who looks at all the possible ways of getting exposure uh to see how it can be done. >> Well, that's what's been occurring.

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Silver has surpassed gold in the present bull cycle. Um and I I say bull cycle because I don't I think we're still very much at the initial phases of that. Um uh so obviously on the industrial side it's a likelihood that the consumption will decline a little bit at the elevated levels but that's offset by the investor interest which now wants to purchase silver. Now the world uh the silver institute is projecting that participants will acquire 200 I think it's 200 million ounces of silver in

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investment metal this year. um when you divide that figure out by the you know the population of the earth you'll find that's one individual in 45 or something like that can have 1 ounce now I know half the globe probably can't afford anything in silver but even so if you think about it if you have 1 ounce of silver alone you're already ahead of the other 46 who won't be able to have it because there is there just isn't sufficient uh if that 200 million ounces number that projection going into

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investment buying is accurate Now, if that if that number ends up being 400 million ounces, cuz actually there's more than one individual of 47 wants to obtain an ounce or that one in 47 individuals wants to obtain 2 ounces. Well, where's it going to come from? The mining output is relatively limited. So, the only place that additional silver can come from is reclaimed silver. And the only way you get reclaimed silver is to have a elevated level than yesterday. Yes. Um, excellent point, Clive. If

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wood, so would there be any other raw materials that you would be interested in? Maybe like copper, uranium, or anything else? I haven't done a thorough analysis on copper yet, but everything I'm hearing from people who have done so says that the copper usage from uh everything from electrification of vehicles to um data hubs and and all types of other things, the electrification of the globe in fact is set to be greater in the future than it is at the moment. and it does take a long time to bring online new copper

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production. So, if what I'm hearing is correct, I think um I'd be relatively optimistic on the extended term for the copper, but it's not really in much of a bull run yet. Um and I think that might just be reflective of the slowing economy because copper will be much more susceptible to the fluctuations of the economy. So, where I'm sitting on copper is I'm thinking I should begin to acquire copper miners. I haven't begun yet and I think the way to do it is slowly and steadily over the next 6 and

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12 months. Um I don't think there's an urge to hurry in because obviously we do go into a downturn. If we go into a downturn, it won't be good for raw material companies in general. I think so. You know, I'm not going to go all in uh even if I do begin purchasing. But I'll, you know, I I think obtaining gradually will give me a spectrum of levels. Maybe some will be elevated than now. So my I don't mind but at least I won't be obtaining everything at the peak of the cycle. And what about

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uranium Clive? The A couple of years ago I did a review on the uranium consumption. It's going to rise. Uh a couple years ago I did a review of the uranium firms I could locate at that time and I I basically turned away in disappointment because they were all massively overvalued in my view. Um so I just I didn't feel you. Uranium itself, if if you know how to contain it, probably you're on to a solid thing, but getting the equities of the extraction companies didn't seem like a solid idea

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a couple of years ago. Uh, maybe I've been shown wrong. I haven't checked the valuations, but I I haven't gone back to examine them either, but I suspect they haven't gotten cheaper. Let me just say one factor. the currency that you hold uh in fiat form, whether it be bonds or money markets or cash or deposits in the institution or physical notes, there's never going to be any less of it with any Western administration. In other words, all the administrations of the world, broadly speaking, are effectively

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getting poorer on a day-by-day basis because they're overspending it. Uh when you can generate currency, it's very hard to stop it. We're not on a gold benchmark where there's a natural restriction and therefore the amount of obligations of your administration which includes the central bank and the government itself are just going to get larger and larger and larger which means your portion of the wealth if you happen to stay in cash is going to get smaller and smaller even after you've earned

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some yield and that's before you paid tax. So even though you might be obtaining 4% on your funds, the administration is creating away officially uh on a yearly basis about 61 12% in the United States but if you look at it on the last um since July there they've been generating at a 131.5% yearly pace. Obviously that's a bit of a brief span. It doesn't take into account the fact there was a debt cap and doesn't take into account the the flow of tax inflows which which don't all

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come at the same time of year. But over the long run, over the last few years, they increased the liabilities by something 6 and a half%. And that number is set to climb. So if you're only earning 4%, you're going backwards by 3%. So if you got another 30 years to store, so you've got your reserves, you got let's say you got 100,000 in the institution and you got another 30 years before you expect to die and the administration is getting poorer by the to the tune of 7%. Let's say that

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doesn't even rise. Uh, and they're only paying you four minus your tax. So, you're actually obtaining two, let's say. So, 7% at one end, 2% at the other end. You're getting poorer to the tune of 5% a year. How much have you surrendered over 30% over 30 years? Don't answer that one, but I can tell you it's a lot. Clive then circles back to silver, stressing that the metal is already surpassing gold in this bull cycle, and we're still early. Industrial consumption may cool slightly at

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elevated levels, but investment interest is now the dominant force. And once investment interest dominates, levels tend to escalate violently. When an asset that is inherently scarce meets a surge of new buyers, the revaluation is rapid, unforgiving, and usually lasting. The math doesn't lie. 1 ounce already places you ahead of 46 other individuals on the globe. On copper, Clive remains cautiously optimistic. Long-term usage is real, driven by electrification, EVs, data hubs, and grid expansion. But

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copper is economically reactive. That's why he prefers the gradual accumulation of copper miners over the next 6 to 12 months. It's a measured tactical approach in a market that will likely reward patients more than aggression. Uranium, meanwhile, remains fundamentally solid on the consumption side. But mining equities are still costly, and Clive hasn't seen a persuasive entry point since his last deep review. What links all of this together is the erosion of fiat credibility. Clive notes plainly that

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Western administrations are getting poorer by the day, drowning in liabilities, and unable to restrain their own currency creation. When a system can only function by issuing more obligations, the long-term outcome is predetermined. That is why institutions and nations are leaving the dollar, not with announcements, but with quiet, relentless acquisitions of physical metals. Gold for monetary protection, silver for scarcity and asymmetric upside. Copper for structural industrial usage, uranium for energy stability.

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