In Case You Missed It – Week Ended April 23, 2016.
Stories from the week ended April 23, 2016.
The big economic news of the week was the decline and fall and snap back in the price of oil and the surging silver price and smack down on April 21. Silver rose to $17.60 on Thursday and was beaten to $16.75 in about an hour. The price of silver ended the day over $17.00 an ounce and the week at $16.95, up $0.72 on the week.
Gold and silver
Gold closed last week at $1234.10 and closed this week at $1232.20
Silver closed last week at $16.23 and closed this week at $16.95
The gold and silver ratio ended the week at 72.7:1
A surge in the price of silver last week and a flat gold price, helped reduce the gold silver ratio from about 82:1 to about 72:1
Chart of the Week
Gold soared from January to March, while the Down fell like a stone from January -February. The two have achieved parity in April
Here are the stories we wrote, followed or commented on.
April 17, 2016
Oil
Doha oil production freeze meeting fails as Saudi Arabia conditions Iranian participation
April 18, 2016
Oil
Crude oil plunges after Doha meeting
Iran Urges OPEC Members To Freeze Oil Production But Won’t Freeze Their Own
Gold
From Smaulgld.com
We provided an update to Indian Gold Imports
January 2016 Indian gold imports were strong, but February and March imports are reported to have been much lower.
Apple Recovers Ton Of Gold From Old Devices
Bulgarian Varna Gold site yields coins, mysteries -What caused this society to suddenly disappear?
China to launch gold benchmark
From the Pet Rock Corner: Trump and Cruz’s Call for Gold Standard Is Impractical and Dangerous
Silver
Apple recovers 3 tons of silver from Iphones
Canadian class action suit names Scotia Bank in $1 Billion Silver Manipulation Case
First Majestic announces 30% increase in silver production in the first quarter
U.S. Mint Sales Update
U.S. Mint reported selling 676,500 American Silver Eagles & 10,000 American Gold Eagles today.
MTD American Silver Eagles sold 2,834,000 American Gold Eagles Sold 58,000
YTD American Silver Eagles Sold 17,676,500/American Gold Eagles sold 243,500
The U.S. Mint also reported selling 2,000 American Gold Buffalo coins.
MTD 14,000 sold YTD 74,000 sold
The U.S. mint also sold 48,000 Cumberland Gap National Historical Park America the Beautiful five ounce coins
De-Dollarization
Responding to threats that Saudi Arabia may sell hundreds of billions of dollars of U.S. Treasuries if Congress passes a 9/11 bill, White House Tells Saudi Arabia its not in their interest to de-stabilize the global economy
April 19, 2016
Silver
From Smaulgld.com
We provided an update to the record pace of American Eagle Sales at the U.S. Mint Through Mid-April
Silver Surges 4.5% today, hits 11-month high, now up more than gold in 2016
A screen shot from the live silver prices page on Smaulgld.com
U.S. News: Silver: Ready To Shine
CNBC : Behind the Silver Surge
Real Estate
Housing Starts Sink 8.8% in March
Gold
Gold coins found in Chinese “Marquis of Haihun” tomb
De-Dollarization
US Congress to Consider Impact of 9-11 Bill on Saudi/US Alliance
U.S. Mint Sales Update
U.S. Mint reported selling 78,500 American Silver Eagles & 5,000 American Gold Eagles today.
MTD American Silver Eagles sold 2,912,500 American Gold Eagles Sold 63,000
YTD American Silver Eagles Sold 17,775,000/American Gold Eagles sold 248,500
The U.S. mint also sold 5,000 Cumberland Gap National Historical Park America the Beautiful five ounce coins
YTD 53,000
April 20, 2016
From Smaulgld.com
Gold
We provided an update to rebounding Gold Sales at the U.S. Mint in Mid-April
Solid Gold Toilet to Be Installed in Guggenheim Bathroom
CNBC: Gold is about to break out
CNBC: Stay away from gold
Silver
Oil
Saudi Arabia and Russia Threaten to Increase Production
Real Estate
Existing Home Sales Increase 5.1% in March
Harriet Tubman to replace Andrew Jackson on $20 bill instead of Alexander Hamilton on the $10 bill
April 21, 2016
Gold
From Smaulgld.com
Russia Adds 500,000 Ounces of Gold to Reserves in March– adding gold at a faster rate than China!
Russia added 500,000 ounces of gold to its reserves in March 2016.
China looking for gold mine acquisitions
A fifth of the world’s gold is under London
Washington Post gold article Gold is not always golden
US Economic Data
Initial Claims 247K, Exp. 263K
Philly Fed -1.6, Exp. +8.9
Central Banks
ECB’s Draghi: We haven’t talked about helicopter money
Silver
Silver Drops $,70 on “profit taking”
Commodities are roaring backhttps://t.co/a1xIm8GOSK pic.twitter.com/J726seFkif
— Bloomberg Markets (@markets) April 21, 2016
CNBC takes a swipe at Silver: Here’s what’s behind silver’s sterling rally
U.S. Mint Sales Update
U.S. Mint reported selling 157,500 American Silver Eagles & 15,000 American Gold Eagles today.
MTD American Silver Eagles sold 3,070,000 American Gold Eagles Sold 78,000
YTD American Silver Eagles Sold 17,912,500/American Gold Eagles sold 263,500
The U.S. Mint also reported selling 1,000 American Gold Buffalo coins.
MTD 15,000 sold YTD 75,000 sold
The U.S. Mint also sold 11,000 Cumberland Gap National Historical Park America the Beautiful five ounce coins
YTD 64,000
April 22, 2016
Gold
From Smaulgld.com
On April 19, China launched a Yuan-based gold fix. We provided an overview in “China Launches Yuan Gold Fix”
Gold Miners In Tremendous Rally – Many Burned Invesors Miss It
Indian Jewelers Open After Strike
Goldman Sachs Still Says to Short Gold
Central Banking
Bank of Japan looking into negative rates for loans
U.S. Economic Data
US MFG PMI 50.8, Exp. 52.0, Last 51.5, Lowest since September 2009
U.S. Mint Sales Update
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 16,000 sold YTD 76,000 sold
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
April 23, 2016
Gold
From Smaulgld.com
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