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On this Wednesday, we look at global gold production and try to find answers as to why yellow metal production fell sharply last year. Of course, the pandemic played a role, however, there is more to it than just COVID-19.
Also, some news coming out of Canada is a reminder for all investors to choose your investment advisor wisely…this individual did not represent the industry in a professional manner, and seven people were hurt by this carelessness.
Plus, there is more news on gold, the dollar, and the precious metals recycling market.
Have a great day! Let’s dig in…

Latest News
Investment Advisor Gets Banned for Failing to Tell Clients About Gold Risks
A former advisor has been banned for three years by the MFDA after failing to adequately explain the risks, and ensure the suitability, of investing in precious metal sector mutual funds to a number of clients. Vanessa Doreen Sjostrom admitted failing to ensure that investment recommendations she made to seven clients were suitable, in particular regarding the risks associated with concentrating their portfolio in this way. She also admitted failing to adequately explain the risks of investing in precious metals sector mutual funds to five clients. Sjostrom was registered in the securities industry from 2004 until 2018 and, between November 2006 and May 2016, was registered in British Columbia as a dealing rep with FundEX Investments Inc. Between June 2016 and June 2018, she was…
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Commentary
Surging Demand for Physical Bullion Might Break Paper Markets
Last year felt like a pivot point in U.S. history. The pandemic and election left the nation ideologically divided. There seem to be only three resolutions going forward. America will face an increasingly authoritarian federal government ruling over a largely apathetic populace, the nation will splinter, or leadership will emerge which is somehow capable of bridging the ideological divide between the American left and the right. Gold bugs are not betting on bridges being built any time soon. Demand for physical metal ratcheted up to a new all-time high in January.
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Economy
Greenback Holds Steady as Traders Trust the Fed Will Hold the Line
The U.S. dollar steadied on Tuesday as rising coronavirus cases and doubts over the speed and size of U.S. stimulus tempered traders' upbeat mood, while investors were also cautious ahead of the Federal Reserve's policy review later in the week. Bonds held gains though hard-running equity markets cooled in Asia, and the cautious move into safer assets held the dollar index =USD at 90.353, roughly in the middle of a range it has kept for the past two weeks. The euro and yen were likewise hemmed in, with the euro unable to break resistance around…
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Commentary
Gold: King of the Hill (And Just Getting Started)
In the summer of 2020, while stock markets were recovering from a pandemic-driven slump, an old asset made its comeback with a roar. In August, the price of gold surpassed the threshold of $2,000 an ounce for the first time in history. Few people who had been following the market were shocked at the news. “If you asked me at the end of 2019, I would have been bearish on gold. But given COVID-19 and the fiscal stimulus put in place, this didn’t come as a surprise,” said Bernard Dahdah, senior commodities analyst at Natixis investment bank.
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Commentary
The Future of Precious Metal Recycling Looks Cloudy
A year ago the idea of a global pandemic completely altering life as we knew it was pure science fiction. Added to that, global economic instability and the traditional challenges of an election year, the ability to forecast what the metals recycling marketplace would look like the great unknown. Li-Cycle’s Sean Grixti, business development and operations, said the metals recycling marketplace looks good right now, with a strong outlook going into 2021. “This is mainly due to the increasing demand for critical metals coupled with an increasing appetite for utilizing recycled materials in industry,” Grixti said. Having said all of this, COVID-19 has caused some capacity constraints in the supply chain as a result of reduced operations at processing sites and lower collection numbers from the general public.
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Commentary
Why Did World Gold Production Plunge in 2020?
World gold production dropped by 5.4% in 2020 according to preliminary estimates released by GlobalData last week. Global data projects gold production came in at 108 million ounces last year. The sharp decline was largely due to mine closures during the coronavirus pandemic. But it also fits into a broader trend of declining mine output we have seen over the last several years. Coronavirus forced many mines to shut down completely for periods of time last year, particularly during the second quarter. According to a report from Kitco News, Q2 2020 charted the lowest gold mine quarterly output in six years.
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Gold Silver Central

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