The next five trading days for gold and silver are going to be very busy...and very interesting.
"Kazakhstan plans to begin construction of a third gold refinery next year to process an expected increase in volumes of the precious metal, the country’s Industry Ministry said on Monday. There are currently two other gold refineries in Kazakhstan.
"Kazakhstan, Central Asia’s largest economy, has ambitious plans to raise annual gold output to 70 tonnes or more by 2015. It produced 27.5 tonnes of gold in the first nine months of 2011, including 12.5 tonnes of refined gold, official data show.
"The central bank has committed to augment its gold reserves and ease exposure to the dollar by purchasing Kazakhstan’s entire bullion output from next year until at least 2014 or 2015."
[Be sure to read the stuff at the end of Ed Steer's Daily.]