Stocks Lower, Oil Higher While the major news networks continue to focus their attention on Omicron, Fed Chair Jerome Powell made comments on Monday that he believes Omicron will not have much impact on economic recovery of commodities.
Oil futures prices have risen while indexes of the major stock markets are trading lower as the market responds to comments by Fed Chair Jerome Powell.
The spot prices of gold, silver and platinum have also risen slightly on the comments from Powell.
This has cause the gold to silver ratio to fall back to 79.69.
Check out our Closest to Spot tools to search and find the best prices on silver, gold and platinum.
This follows a report released by the Federal Reserve last week ago that showed the emergency repo loans of $4.5 trillion were sent to more than 24 major Wall Street banks and trading firms starting at the end of 2019 and continued into 2020.
This report from the Federal Reserve provides new previously undisclosed information.
Major banks on the list include JP Morgan, Citigroup, Goldman Sachs.
Combined with all the other stimulus from pandemic related bailouts that have been used to keep the economy afloat these past few years are likely to have long term implications that are yet to be fully felt. Some researchers are estimating it to be as high as $11 trillion or more.
What do we know about Kazakhstan crisis and Precious Metals?
The protests in Kazakhstan began as a result of drastic increases in the cost of fuel and other commodities.
Petroleum & Natural Gas products represents more than 60% of the overall exports from Kazakhstan and are the backbone of their economy.
Unemployment in Kazakhstan had been roughly 6.1% in 2020. Over the past year there have been various reports that unemployment may have risen to as high as 13%.
The Kazakhstan government responded to the protests by introducing price controls on fuel as an attempt to manage the prices.
Protestors viewed the price controls on fuel as a feeble attempt by the government to satisfy protesters.
The price controls on fuel were seen by many as a minor concession to the major problems caused by the policies of the government and the protests have continue.
Some of the protests have escalated to riots with protestors burning buildings in areas with a large government presence.
A coalition of troops was requested from CSTO to help the government with restoring order.
CSTO is similar to NATO. The Collective Security Treaty Organisation was established from a treaty between various countries in the region and is expected to assist with policing, peacekeeping and other humanitarian missions.
Facts About Kazakhstan
Kazakhstan is 12th largest silver exporting country in the world, representing roughly 2.4% of the world’s silver market. The 5 largest mines in Kazakhstan produced roughly 4,733,500 ounces of silver in 2020.
The 5 primary mines producing silver and gold in Kazakhstan
Maleevsky Mineis an underground mine operated by Glencore Plc. The mine produces Zinc, Copper, Lead, Gold and Silver. In 2020, the mine produced an estimated 1.33 million ounces of silver. It is expected to continue operating until 2025.
Koktaszhal Projectis a surface mine owned by Altay Polymetals. The development of the mine included financing from the European Bank for Reconstruction and Development by a joint venture of AltaiPolimetally LLP and Terekty Ken Baitu LLP. The financing of $100 million was secured to develop an ore processing plant near the Koktaszhal copper-gold deposit located in the Karaganda region of Kazakhstan. The mine produced roughly 1.088 million ounces of silver in 2020. The mine will operate until 2034
Artemyevsky Mine is owned by KAZ Minerals PLC and produced an estimated 918,353 ounces of silver in 2020. The mine is expected to close in 2022.
Bozshakol Mine is a surface mine owned by KAZ Minerals PLC. The mine produced an estimated 803,124 ounces of silver in 2020 and is expected to continue operating until 2024.
Aktogay Project is a surface mine owned by KAZ Minerals PLC. the Aktogay Project is a surface mine located in East Kazakhstan. It produced an estimated 549,144 of silver in 2020. The mine will operate until 2044 594,144
$49.2 million in Gold annually from Kazakhstan, with most exports going to Turkey and Kyrgyzstan.
Kazakhstan is the largest exporter of Uranium in the world. The exports are mined by Kazatomprom, a government owned and operated mining company.
The Canadian mining company, Cameco owns a 40% interest in a joint venture and is entitled to as much as 59.4% of the exported Uranian under the control of Kazatomprom.
The share price of Cameco stock has been trending lower on the news.
Kazakhstan is nestled in Central Asia with China bordering on the east and Russia to the North.
Source: CIA World Factbook
It’s roughly the size of the midwest United States and is rich with deposits of petroleum, natural gas, coal, iron ore, manganese, chrome ore, nickel, cobalt, copper, molybdenum, lead, zinc, bauxite, gold, and uranium.
Kazakhstan has a mountainous central area of the country with tundra to the north and deserts to the south with borders on on both the Aral & Caspian Seas.
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The promotion can give you 8% cash back rewards on most purchases as eBay Bucks that you can spend on future purchases.
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eBay Bucks can be spent on Bullion and other items that aren’t eligible for earnings.
Utilizing this program is a way to get an additional 8% cash back rewards on gifts and purchases from eBay that can later be used towards bullion.
A new design of The Chinese Panda coin is released annually. The Panda Bullion Coin represents China in the global bullion market.
The Chinese Panda coin has been minted by The People’s Bank of China, since 1982. The design of the reverse changes annually as is adorned by depictions of the Panda Bear, a national symbol of the People’s Republic of China.
Chinese Panda coins are minted in Silver and Gold from bullion mined in China.
2022 Chinese Panda Series Design
The reverse design of the coin highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.
The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams.
The obverse design of the 2022 Silver Panda coin has remained unchanged since the coins debut.
The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.
Minting of the China Panda Coin Series
The People’s Bank of China is the central bank for the People’ Republic of China and is responsible for managing monetary policy and regulation of financial institutions throughout China.
In 2015 and prior, the coins were minted in 1 oz and fractional ounce coins.
Beginning in 2016, the China Silver Panda and China Gold Panda coins have been minted as 30 gram coins, which is slightly less than 1 troy ounce.
Switching their silver and gold bullion coins to metric weights has not yet had much influence on other government mints.
The majority of government and private mints continue to use the traditional Roman Monetary System or British Imperial troy ounce denominations for which has been in use by the Bretton Woods system most Western Nations.
2022 Chinese Panda Coins Collection
The 2022 China Panda Coin collection consists of 14 coins that feature the same design.
2022 Chinese Panda 30 gram Gold Coin – The 30 gram circular gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 32mm and face value of 500 yuan (500 元). The maximum mintage is 1,000,000 coins.
2022 Chinese Panda 15 gram Gold Coin – The 15 gram circular gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 27mm and face value of 200 yuan (200 元). The maximum mintage is 250,000 pieces.
2022 Chinese Panda 8 gram Gold Coin – The 8 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 22mm and face value of 100 yuan (100 元). The maximum mintage is 250,000 pieces.
2022 Chinese Panda 3 gram Gold Coin – The 3 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 18mm and face value of 50 yuan (50 元). The maximum mintage is 500,000 pieces.
2022 Chinese Panda 1 gram Gold Coin – The 1 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 10mm and face value of 10 yuan (10 元). The maximum mintage is 500,000 pieces.
2022 Chinese Panda 30 gram Silver Coin – The 30 gram round silver coin, is minted from .999 pure silver and with a bullion finish. The coin has diameter of 40mm and face value of 10 yuan (10 元). The maximum mintage is 10,000,000 pieces.
2022 Chinese Panda 30 gram Platinum Coin – The 30 gram round platinum coin, is minted from .999 pure platinum and with a bullion finish. The coin has diameter of 32mm and face value of 1000 yuan (1000 元). The maximum mintage is 10,000 pieces.
2022 Chinese Panda 1 gram Platinum Coin – The 1 gram round platinum coin, is minted from .999 pure platinum and with a bullion finish. The coin has diameter of 10mm and face value of 30 yuan (30 元). The maximum mintage is 100,000 pieces.
2022 Chinese Panda 1 kilogram Gold Coin – The 1 kilogram round gold coin, is minted from .999 pure gold and has a proof quality finish. The coin has diameter of 90mm and face value of 10,000 yuan (10,000 元). The maximum mintage is 1,000 pieces.
2022 Chinese Panda 150 gram Gold Coin – The 150 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 60mm and face value of 2,000 yuan (2,000 元). The maximum mintage is 10,000 pieces.
2022 Chinese Panda 100 gram Gold Coin – The 100 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 55mm and face value of 1,500 yuan (1,500 元). The maximum mintage is 20,000 pieces.
2022 Chinese Panda 50 gram Gold Coin – The 50 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 40mm and face value of 800 yuan (800 元). The maximum mintage is 30,000 pieces.
2022 Chinese Panda 1 kilogram Silver Coin – The 1 kilogram round silver coin, is minted from .999 pure silver and with a proof quality finish. The coin has diameter of 100mm and face value of 300 yuan (300 元). The maximum mintage is 20,000 pieces.
2022 Chinese Panda 150 gram gram Silver Coin – The 150 gram round silver coin, is minted from .999 pure silver and with a proof quality finish. The coin has diameter of 70mm and face value of 50 yuan (50 元). The maximum mintage is 60,000 pieces.
2022 Chinese Silver Panda Coins
The 2022 Chinese Panda Silver Coin has a new design for the 40th Anniversary of the Chinese Panda Coin Series.
The reverse design of the coin highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.
The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams. A special 40th anniversary privy mark is also incorporated into the reverse design.
The obverse design of the 2022 Silver Panda coin has remained unchanged since the coins debut.
The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.
At the center of the obverse is The Hall of Prayer for Abundant Harvests, which is located in Beijing’s Temple of Heaven.
The tiered circular building is an example of traditional Chinese architecture.
Legend has it that all of the Emperors from China’s Ming & Qing dynasties would visit the temple annually and pray to the gods for an abundant harvest.
At the top of the obverse is the name of the issuing country in native Chinese characters (中华人民共和国), while at the bottom is the date, “2022”.
The 2022 Chinese Gold Panda Coins are available from online bullion dealers in 1 bullion finish denomination:
The 2022 Chinese Panda Gold Coin has the same new design for the 40th Anniversary of the Chinese Panda Coin Series.
The reverse design of the gold coins highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.
The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams and the 40th Anniversary Privy mark.
The 2022 Chinese Panda gold and silver coins are minted by the People’s Bank of China (中国人民银行). The gold and silver Panda coins are distributed by China Gold Coin Incorporation (CGCI).
JBR Recovery Ltd. is a precious metals recovery company based in the United Kingdom. They are a world leader in silver, gold, platinum, and palladium recovery from other sources that can be refined for use in bullion programs.
The Icons of Britain collection from JBR Recovery Ltd. celebrates the cultural icons of British life.
The reverse side of the JBR Recovery 10 oz silver bars contains hieroglyph-like symbols on the reverse side. The iconic symbols reflect various elements that represent British life and are easily recognizable around the world.
For the obverse side, the 10 oz Silver Bar is stamped with the JBR logo at the top of the design field.
This consists of “999” at the center of an oval with a ring around it that reads “JBR Recovery Ltd.” At the bottom of the bar’s design field are the inscriptions of “10 oz,” “Fine Silver,” and “999.”
The 10 oz bars ship with individual, sealed-plastic packaging, while multiples are available in mint-sealed Monster Boxes of 50 bars.
Background on JBR Recovery Ltd.
JBR Recovery Ltd. is located in West Bromwich, United Kingdom. JBR recovers silver, gold, platinum, and palladium previously used in other industries for the production of its bullion items.
Using secondary sources, industrial sources, and waste materials, JBR recovers these coveted precious metals and is able to refine the metals back to purities of at least .999 for the production of cast bars, minted ingots, and rounds. JBR Recovery Ltd. has Good Delivery standing with the London Bullion Market Association.
Known for creating highly desirable and sought after unique coins, the Royal Tudor Beasts is the latest collection from the Royal Mint. The Royal Mint is the official government mint of Great Britain.
The Royal Tudor Beasts collection is based on the legend of Henry VIII and the Royal Beasts he kept in his Tudor Era court.
Legend has it, that King Henry VIII kept the Royal Tudor Beasts at the Hampton Court Palace.
Historically, guests would have been carried across the palace moat via boat.
At the Great Guesthouse, guests would be greated by ten beastly statues mounted on pillars positioned on either side of the bridge.
Similar sculptures appear throughout Hampton Court Palace. Statues of the Tudor Beasts adorn the palace rooftops and its famous Tudor Garden.
Royal Tudor Beasts Coin Series
The new Royal Tudor Beasts coin series from the Royal Mint will include 10 unique coins.
The Seymours were an English noble family with Norman origins.
The Seymour family came to prominence in the sixteenth century as Sir John Seymour (1474-1536) rose in the court of Henry VII and later his son, king Henry VIII.
Sir John’s influence on the Tudor Dynasty was cemented when the Henry VIII married his daughter Jane. Jane Seymour became the wife of King Henry VIII just days after the execution of his second queen, Anne Boleyn. J
The marriage was cut short by Jane’s death after the birth of her son, the future Edward VI. However, the Seymour family retained influence as the relatives of the heir to the throne.
Panthers in medieval heraldry a mythical creature with a spotted or multicoloured fur coat.
Legend says that the panther would emit a sweet odor when roaring which would attract the beast’s prey. After the beast had feasted, it would retreat to a cave where it would sleep for three days.
King Henry VI included a fire breathing panther on his heraldic crest.
It is believed that the Panther was bestowed on Jane Seymour because it made an easy replacement for her predecessor, Anne Boleyn’s leopards.
Jane Seymour’s panther was depicted as a maneless lion with red and blue spots. An eye-catching rendition of this magnificent creature appears on the 2022 Seymour Panther coin.
Many of The Black Friday sales with online precious metals and bullion deals are live and that means plenty of deals on silver and gold bars, rounds and coins.
Financial uncertainty around rising inflation and higher gas prices continue to weigh on the minds of holiday shoppers throughout the United States this year.
Holiday shoppers are seeking out discounts on popular items. Below are some highlights of some of the better deals offered by online bullion dealers in 2021.
Bullion Exchanges continues to have one of the lowest minimum order thresholds to include free shipping for orders over $99. There are many great Black Friday deals offered from Bullion Exchanges.
The short answer is: Yes. It is legal to own precious metals today.
However, throughout the past 100 years, the United States has had several periods during which ownership of precious metals was illegal.
History of Precious Metals Prohibition
In the early 20th century, much of the currency circulating throughout the United States was in the form of coinage. Paper bills were in circulation, however, they were often only available in large denominations for large commercial and interbank transactions.
On April 5, 1933, after already enduring several years of the Great Depression, President Franklin Roosevelt signed Executive Order 6102. The Presidential Executive Order 6102 (EO-6102) essentially forbade the hoarding of gold coins, gold bullion and gold certificates.
During the economic hardship many people lost faith in the banking system. Instead of depositing cash into banks, many people hoarding cash at home in the form of gold and silver coins.
The Executive Order required all persons in the United States to turn over all gold coins, gold bullion and gold certificates to the Federal Reserve in exchange for the equivalent of $20.67 per troy ounce.
The order did exempt some items. Such as jewelry, numismatic collectibles, items used by industry, some professions and artists.
In defiance to the order, people drilled holes or attached hasps to the coins to hang on a chain to meet the minimum standard of jewelry.
The prohibition on private ownership of gold continued for 41 years.
Legality of Precious Metals Today
During the Oil Crisis in the 1970s, facing rising unemployment and inflation, President Richard Nixon met in secret in August of 1971 at Camp David with advisors from the White House, Treasury, and Federal Reserve.
Notable participants in the meeting included Federal Reserve Chairman Arthur Burns and Treasury Secretary John Connally. Also present, then Undersecretary for International Monetary Affairs and future Federal Reserve Chairman Paul Volcker.
The actions taken following this meeting have been called the “Nixon Shock”.
Without consulting any international leaders, Richard Nixon authorized Treasury Secretary John Connally to break the Bretton Woods Agreement. This agreement had defined many of the rules of international trade amongst nations following World War II.
The action included the immediate suspension of the “gold standard”.
Nixon directed the Treasury Secretary to abolish the convertibility of dollars into gold through the London Gold Pool. This also removed the fixed price of gold from $35 an ounce to a market based system.
By 1973, the US gold standard that was established by the Bretton Woods Agreement had been replaced by our current regime of freely floating fiat currencies where currency values fluctuate based on Exchange Market fluctuations.
In 1974, President Gerald Ford, signed a bill to authorize United States citizens to purchase, hold, sell, or otherwise deal with gold in the United States or abroad.
It has been legal for anyone to own, hoard, buy and sell gold in the United States since December 1, 1974.
The events of 1971 ignited the first bull-run of the gold market. The gold bull run culminated in a price peak of $850 USD per ounce in January 1980.
Sovereign Gold Bullion Market
The Gold Krugerrand is first gold bullion coins to be sold to investors.
At the time, international sanctions against South Africa due to apartheid made it difficult to invest in Gold Krugerrands.
In 1979, the Royal Canadian Mint introduced the first Maple Leaf 1 oz Gold Coin.
The reverse of the coin features the iconic Canadian Maple Leaf design. The Royal Canadian Mint continues to keep the design contemporary and today is a leader in advanced anti-counterfeiting technology.
The obverse of the coin contains an effigy of Queen Elizabeth II. The effigy of the Queen has been refreshed twice. The first update came in 1990 using a portrait of the Queen at 64 years old. The second in 2005, using a portrait of the Queen at 79 years old.
The US Mint made several failed attempts during the early 1980s to woo precious metals investors. One notable attempt is the American Arts Commemorative Series Medallions.
There are ten medallions that are part of the American Arts Commemorative Series that were released from 1980 through 1984.
The larger medallions contain 1 troy ounce of pure gold. While the smaller medallions contain 1/2 troy ounce of pure gold. The medallions were poorly received by the public and investors.
These medallions were struck from an alloy containing .900 fine gold. These medallions continue to trade today as bullion. They are often sell very close to melt value.
The Sovereign Gold Bullion Market Today
The American Arts Commemorative Series medallions were a commercial failure with the public and investors. This series paved the way for Congress to create and establish the guidelines for the American Eagle series of coins from the US Mint.
The American Eagle series of coins premiered in 1986. It is the most popular precious metal investment product in the world today.
As of 2019, more than 42 million ounces of gold have been minted into four denominations of American Gold Eagle coins. Investor demand for American Gold Eagle coins remains strong after 36 years.
The obverse shows the widely recognized Walking Liberty design introduced in 1986.
The reverse of the 2022 Gold Eagle has the new design that debuted half way through 2021.
2022 American Gold Eagle Coin Proof Finish
The American Gold Eagle coin is available in four weight denominations, including 1/2 troy ounce ($25 USD), 1/4 troy ounce ($10 USD), and 1/10 troy ounce ($5 USD).
It has been nearly 50 years since the United States financial system was moved off the gold standard.
Private ownership of gold and other precious metals remains legal throughout the United States today.
The COP26 Climate Summit is underway in Glasgow, Scotland this week.
In a dramatic plea for awareness of the effects of climate change, Tuvalu’s foreign minister, Simon Kofe presented his speech to the group while standing knee-deep in seawater near the shores of an atoll in the Polynesian nation. Tuvalu is a tiny nation in the South Pacific region that is comprised of 9 small islands. It is an independent island nation under the British Commonwealth.
The country’s GDP in 2020 was the lowest in the world at only $45 million due to tourism shutdowns related to the pandemic.
There are many gold and silver coins minted on behalf of Tuvalu by the Perth Mint. Tuvalu receives a licensing fee for the use of it’s currency on bullion coins.
Below are some examples of coins produced by the Perth Mint on Behalf of Tuvalu.
2022 James Bond 007 1 oz Silver Coin These 2022 1 oz Colorized Tuvalu James Bond Series 007 Silver Coins feature a black colorization within the swirls of the reverse field.
