In Case You Missed It – Week Ended April 16, 2016

In Case You Missed It – Week Ended April 16, 2016.

Stories from the week ended April 16, 2016.

The Lowest Cost. Period.

The big economic news of the week was the announcement of a settlement by Deutsche Bank of a private silver price manipulation case. The news was surpassed in importance by an announcement the next day that Deutsche Bank had also agreed to settle a private gold maninipulation case.

As part of the agreements Deutsche Bank has agreed to pay undisclosed amounts of money and to cooperate and provide evidence against their co-conspirator banks.

Late in the week, Saudi Arabia threatened to sell its U.S. Treasury bonds if the U.S.Congress passed the “9-11 bill” that might implicate Saudi Arabia in the terrorist attack on September 11, 2001. For a list of largest foreign holders of U.S. Treasury Securities, see below.

Gold and silver

Gold closed last week at $1221.90 and closed this week at $1234.10
Silver closed last week at $15.05 and closed this week at $16.23

The gold and silver ratio ended the week at 76:1

gold silver ratio april 14 2016

The Gold Silver Ratio dipped below 80:1 for the first time in months in mid – April 2016.

Chart of the Week

silver etf april 2016

Silver ETFs experienced net inflows in April 2016.

Here are the stories we wrote, followed or commented on.

April 10, 2016

From Smaulgld.com

What if 1% of the U.S. Labor Force Saved in Silver?

1-4 % of labor force buys silver

The impact of a small increase in the percentage of people investing in small amounts of silver would have a dramatic impact on demand.

Compare American Silver Eagles for sale at:

BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange

April 11, 2016

Gold

Indian Jewelers end strike, open shops

India imposes 15% duty on items purchases abroad after 1 year stay

WSJ: China goes prospecting for world’s gold mines

RBC ups gold price target to $1300 based on Chinese, Indian & ETF demand

US Q1 GDP down graded

Silver

From Smaulgld.com

Mexican Government projects decrease in silver mining production in 2016.

mexican silver mining prodution 2006-2015 steady increase

A decade of Mexican silver mining production growth is set to end in 2016.

Yellen meets with Obama and Biden

Obama “pleased” with Yellen

https://twitter.com/smaulgld/status/719940267827138561

April 12, 2016

Silver

From Smaulgld.com

Sales of Mexican Libertads Increase 110% in 2016.

mexican silver libertads 2004 -2015

Mintages for the Mexican Silver Libertadad have averaged just 775,000 per year from 2004-2015.

Compare Pricing and Shipping on Mexican Silver Libertad Coins

BGASC.com
Golden Eagle Coins
JM Bullion

Gold

Gold hits highs vs Platinum and Silver

HSBC: Buy Gold

US New World Report: Will Gold Continue To Shine?

U.S. Economic Data

Export Prices ex-ag. 0.3% Prior -0.5%
Import Prices 0.2%, Prior -0.3%
Import Prices ex-oil -0.1% Prior -0.1%
US Import Prices rose in March

Fed Chatter

SF Fed President Williams says online financial products need regulation

Two non voting Fed members speak out:

Dallas Fed’s Rob Kaplan says another rate hike may come soon could raise three times this year if oil prices pick up

but

Philadelphia Fed President Patrick Harker wants to delay a rate hike until more evidence of inflation

Richmond Fed President says four rate hikes in 2016

Oil

Oil surges on news of Saudi/Russian production freeze agreement

Oil tanker traffic jam: full tankers stuck at sea

Global Economy

IMF cuts global growth estimate

U.S. Mint Sales Update

U.S. Mint reported selling 984,500 American Silver Eagles & 10,000 American Gold Eagles today.

MTD American Silver Eagles sold 2,106,000 American Gold Eagles Sold 28,500

YTD American Silver Eagles Sold 16,948,500/American Gold Eagles sold 214,000.

The U.S. Mint also reported selling 2,000 American Gold Buffalo coins.
MTD 8,000 sold YTD 68,000 sold

Buy 2016 American Silver Eagle Coins

April 13, 2016

Silver

From Smaulgld.com

Indian Silver Imports were nearly 275 million ounces in 2015

indian annual silver imports 2008 - 2016

Indian silver imports rose to over 273 million ounces in 2015.

Gold

India’s Gold Imports Fall 16%

China’s Four largest banks to join Yuan Gold Fix – China flexes its gold muscle

Anglo Asian Mining Plc, cuts its output by 17.6 percent

Europe

European Industrial Production Falls most in 18 months

U.S. Economic Data

U.S. Retail Sales March -0.3%, Exp. +0.1%

Producer Price Index -0.1% Exp. +0.2%

Core PPI -0.1 Exp. +0.1%

U.S. Mint Sales Update

U.S. Mint reported selling 51,500 American Silver Eagles & 14,000 American Gold Eagles today.

MTD American Silver Eagles sold 2,157,500 American Gold Eagles Sold 42,500

YTD American Silver Eagles Sold 17,000,000/American Gold Eagles sold 228,000

The U.S. Mint also reported selling 3,500 American Gold Buffalo coins.
MTD 11,500 sold YTD 71,500 sold

Yellen Yacks

Fed Chair says Fed must move with care, focused on Main Street to boost jobs

April 14, 2016

Silver

Deutsche Bank to settle U.S. silver price-fixing litigation

Gold

From Smaulgld.com

Shanghai Gold Exchange withdrawals fall year over year in March

SGE gold withdrawals 2016 march

Shanghai Gold Exchange withdrawals in 2015 were 2,597 tonnes. Through March 2016, SGE withdrawals are 516.631 tonnes, or 17.4% lower than 625.136 tonnes withdrawn through March 2015.

You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:

BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange

Deutsche Bank Settle Gold Manipulation Charges

Gold demand in Japan Soars on Negative Interest Rates

CNBC

Gold’s $33 billion man: Don’t be a doubter; keep buying

Five Reasons Gold Is a Buy

Bank of England

US Economic Data

CPI 0.1%, Exp. 0.2%, Last -0.2%

Initial Claims 253K, Exp. 270K, Last 266K

Reuters U.S. jobless claims fall, revisit 1973 level

The economy sucked in 1973 too. SOLID ROBUST job market!

Fed Chatter

Atlanta Fed President doesn’t support June rate hike

U.S. Mint Sales Update

U.S. Mint reported selling no American Silver Eagles & 3,000 American Gold Eagles today.

MTD American Silver Eagles sold 2,157,500 American Gold Eagles Sold 45,500

YTD American Silver Eagles Sold 17,000,000/American Gold Eagles sold 231,000

The U.S. Mint also reported selling 500 American Gold Buffalo coins.
MTD 12,000 sold YTD 72,000 sold

April 15, 2016

Gold

From Smaulgld.com

Deutsche Bank settles gold manipulation case

Silver

From Smaulgld.com

Deutsche Bank Settles Silver Manipulation Case

US Economic Data

US Industrial Production March -0.6%; Capacity Utilization -0.5 TO 74.8%

Empire Fed 9.56, Exp. 2.10, Last 0.62

University of Michigana Consumer Sentiment 89.7, Exp. 92.0, Last 91

NEW YORK FED 2Q NOWCAST GDP FORECAST +1.2% VS PREV +1.9%
NEW YORK FED 1Q NOWCAST GDP FORECAST +0.8% VS PREV +1.1%

Atlanta Fed BOOSTS 1Q GDP from 0.1% to 0.3%

From Smaulgld.com

Saudi Arabia Threatens to Sell US Treasuries as U.S. Treasury Department Updates Top Foreign Holders of U.S. Treasuries

War on Cash

EU to phase out 500 euro note

U.S. Mint Sales Update

U.S. Mint reported selling no American Silver Eagles & 2,500 American Gold Eagles today.

MTD American Silver Eagles sold 2,157,500 American Gold Eagles Sold 48,000

YTD American Silver Eagles Sold 17,000,000/American Gold Eagles sold 231,000

The U.S. Mint also reported selling 500 American Gold Buffalo coins.
MTD 12,000 sold YTD 72,000 sold

JM Bullion

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