Apple and Alphabet (Google) Boost U.S. Treasury Security Holdings to Nearly $100 billion at June 30, 2017.
Combined Apple and Google US Treasury Security holdings top holdings of Canada, France and Germany.
What Happens If Apple and Google Dump U.S. Treasuries?
Silver imports into China through first half of 2017 at a seven year high.
Indian silver imports are running at a higher rate than China’s through first half of 2017.
Video Commentary to “Apple and Google U.S. Treasury Holdings Soar in 2017”
Top economic story:
At the end of the second quarter large U.S. Corporations held growing and substantial amounts of U.S. Treasury Securities.
We noted that foreigners (The Russians, Saudis, Chinese and other BRICS nations) had been increasing their U.S. Treasury holdings since November, with the notable exception of Mexico).
A closer look reveals that Corporate American also seems to be boosting their U.S. Treasury holdings.
According to recent SEC filings at the end of the second quarter:
Apple owned $52.6 billion in US Treasuries up 28.3% from $41 billion in the third quarter of 2016.
Apple’s holdings were about $20.1 short term U.S. Treasury Notes (2, 3, 5, 7, or ten year maturities) and $31.4 in long term U.S. Treasury Bonds (30 year maturity) with the remainder in Treasury bills.
Alphabet (Google) held $44.8 billion in US Treasury Notes (with maturities of 2, 3, 5, 7, or ten years) up 19.1% from $37.6 billion at the end of 2016.
Facebook held $11 billion in US Treasuries, up 57% from $7 billion as at December 31 2016.
Combined, Apple, Google and Facebook held $108.4 billion in U.S. Treasuries at the end of the second quarter of 2017.
Chart from US Treasury http://ticdata.treasury.gov/Publish/mfh.txt
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Gold and silver.
Gold closed last week at $1269.10 an ounce and closed this week at $1258.40 -0.8%
Silver closed last week at $16.74 an ounce and closed this week at $16.24 -3.0%
The gold and silver ratio ended the week at 77.54:1
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Tweets of the Week
https://twitter.com/Smaulgld/status/887758245816827912
https://twitter.com/Smaulgld/status/892028453964439552
https://twitter.com/Smaulgld/status/893517891924054016
https://twitter.com/Smaulgld/status/893517304394338304
Bitcoin forks has some unhappy
https://twitter.com/Smaulgld/status/892786777370525698
Here are the stories we wrote, followed or commented on.
July 26, 2017
Mining Giants Post Red-Hot Results in Lukewarm Gold Market
July 28, 2017
Chinese Demand for Gold Bars Climbs by Half on Hunt for Havens
Bars first half of 2017 158.40 metric tons 4,919,064 ounces
Jewlery 330.8 tons 10,635,467 ounces
Total 545.2 tons 17,528,587 ounces
BUT PBOC lists just 1842 tons of gold on its balance sheet.
July 31, 2017
From Smaulgld.com
MEXICO IS DUMPING U.S. TREASURIES
Gold
Inappropriate to dissuade gold imports, says former RBI Governor
Six killed in explosion at illegal gold mine in Colombia
Silver
SIERRA METALS REPORTS STRONG Q2-2017 FINANCIAL RESULTS AT ITS SOCIEDAD MINERA CORONA SUBSIDIARY IN PERU
All in sustaining cost (“ASIC”) per silver equivalent payable ounce lower by 8% to US$13.47
The Maestro Speaks: Greenspan Sees Return of Stagflation Unseen Since 1970s
Litecoin
Litecoin Terminals Pop Up Across US, UK and Canada Amidst Surging Demand
US Economic Data
Chicago PMI 58.9, Exp. 60, Last 65.7
Pending Home Sales 1.5%, exp. 1.0%
Dallas Fed 16.8, Exp. 14.0
US Mint Sales Update
U.S. Mint reported selling 70,000 American Silver Eagles and 1,000 American Gold Eagles today.
MTD American Silver Eagles sold 2,220,000 & American Gold Eagles sold 12,500
YTD American Silver Eagles sold 14,503,500/American Gold Eagles sold 154,500
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 5,000 sold
YTD 71,000 sold
The U.S. Mint sold 0 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD Effigy Mounds ATB coins 35,000. The US Mint sold 0 Frederick Douglas National Historical Site ATB coins and 0 of the Ozark National Scenic Riverways.
Total YTD ATB coin sales 35,000 Effigy Mounds National Monument coins, 20,000 Frederick Douglas National Historical Site and 20,000 Ozark National Scenic Riverways ATB coins. Total 75,000
August 1, 2017
From Smaulgld.com
KAZAKHSTAN ADDS MORE GOLD TO RESERVES IN JUNE
Gold
Gold replica of lunar module stolen from Neil Armstrong museum
US Economic Data
Personal Income 0.0%, Exp. 0.4%
Personal Spending 0.1%, Exp. 0.1%
U.S. June Construction Spending Fell 1.3%; Est. +0.4%
Markit PMI Mfg 53.3, Exp. 53.2
ISM Mfg 56.3, exp. 56.5
August 2, 2017
From Smaulgld.com
AMERICAN SILVER EAGLE SALES ADVANCE STRONGLY IN JULY
Silver
China H1 2017 Silver imports climb to highest level in nearly seven years
China imported around 330 tons of silver in June up 34% from last June.
China imported 1,984 tons of silver (63,787,082 ounces) in the first half of the year +37% more than the first half of last year and the highest silver imports in seven years.
India, in comparison (sneak peak) imported 2,638 tons of silver in the first half of 2017
or 84,813,670 million ounces
India and China have imported about 150 million ounces of silver in the first half of 2017.
At the current pace, they will import 300 of the approximately 850 million ounces of silver mined annually.
China itself mines about 100-110 million ounces of silver a year.
US Economic Data
MBA mortgage applications -2.8%, last +0.4%
Purchases -2.0%, -2.2% last
Refis -3.8%, +3.4% last
ADP 178K, Exp. 190K
Fed Chatter
FED’S MESTER: GDP SHOULD GROW SLIGHTLY ABOVE 2% OVER NEXT YEAR
August 3, 2017
From Smaulgld.com
VENEZUELANS WANT DOLLARS – NOT FOR TOLIET PAPER
Gold
Randgold reports 53 pct rise in H1 profit, cash pile mounts
Kazakhstan extended its buying run to 57 consecutive months
Turkey bought 21t during the quarter, bringing its gold reserves to 137.1t. Germany sold 3.8t from its gold reserves in Q2 as part of its ongoing coin-minting programme.
Silver
US Economic Data
Factory Orders 3.0%, Exp. 2.9%, Last -0.3%
ISM non-mfg employment from 55.8 to 53.6
ISM Non-mfg 53.9, Exp. 56.9
PMI Services July 54.7, Exp. 54.2
Initial Claims 240K, Exp. 243K
August 4, 2017
From Smaulgld.com
AMERICAN GOLD EAGLE SALES REMAIN GROUNDED IN JULY
US Economic Data
July Payrolls 209K, Exp. 180K
Atlanta Fed cuts Q3 GDP nowcast from 4.0% to 3.7%
The Maestro Speaks Again
Greenspan: Bond bubble about to break because of ‘abnormally low’ interest rates
August 5, 2017
From Smaulgld.com
AMERICAN GOLD BUFFALO SALES REMAIN DOWN TRODDEN IN JULY
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Compare American Silver Eagles for sale at:
Golden Eagle Coins
SD Bullion
Money Metals Exchange
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You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
Golden Eagle Coins
SD Bullion
Money Metals Exchange
Compare American Silver Eagles for sale at:
Golden Eagle Coins
SD Bullion
Money Metals Exchange
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