In Case You Missed It – Week Ended April 30, 2016.
Stories from the week ended April 30, 2016.
The big economic news of the week: Gold and silver hit 15 month highs.
Gold and silver
Gold closed last week at $1232.20 and closed this week at $1292.50
Silver closed last week at $16.95 and closed this week at $17.82
The gold and silver ratio ended the week at 72:1.
Silver and gold are rising but silver is rising faster leading to a reversal in the gold silver ratio in April.
Chart of the Week
As the price of silver rises, premiums on American Silver Eagles have been dropping. Click to see why.
Here are the stories we wrote, followed or commented on.
April 25, 2016
From Smaulgld.com
Gold
CNBC: Why gold may head to $1400 an ounce
Hong Kong To Build World’s largest Gold Vault
Currencies
British Pound Rises on Increased Probability of “Stay” Vote
Silver
De-Dollarization
What's all this fuss about Harriet Tubman replacing Michael Jackson on the $20 bill? @RudyHavenstein https://t.co/vNdSdCzfsB
— Smaulgld (@Smaulgld) April 25, 2016
U.S. Mint Sales Update
U.S. Mint reported selling 801,000 American Silver Eagles & 8,000 American Gold Eagles today.
MTD American Silver Eagles sold 3,871,000 American Gold Eagles Sold 86,000
YTD American Silver Eagles Sold 18,713,500/American Gold Eagles sold 271,500
The U.S. Mint reported selling 4,000 American Gold Buffalo coins.
MTD 19,000 sold YTD 79,000 sold
The U.S. Mint reported no Cumberland Gap National Historical Park America the Beautiful five ounce coins sales today
MTD 7,000
YTD 64,000
Total ATB coins sold YTD 169,000
April 26, 2016
From Smaulgld.com
Gold
We covered the release of the 2016 Mercury Dime Centennial Gold Coin from the U.S. Mint
The 2016 Mercury Dime Centennial 24k gold coin is a replica of the silver Mercury Dimes that were minted for general circulation from 1916-1945.
Mercury Dimes like these once jangled in the pockets of everyday Americans.
Silver
CPM Group – Silver production increased in 2015, set to fall in 2016
What silver’s popularity over gold means
Gold
Chinese Gold Imports Up 49% in March
Russia’s VTB aims to supply up to 100 T gold to China per year
HSBC- Gold Could Explode If Britain Votes Out or Europe
Venezuela sends more gold to Switzerland
Deutsche Bank says $20 silver possible
U.S. Economic Data
Durable Goods + 0.8% in March/ -3.1% in February
Non defense durable goods 0.00% vs downward revised -2.7% in February
Consumer Confidence 94.2, Exp. 95.8, Last , Last 96.1
Markit PMI Services 52.1, Exp. 52.0, Last 51.3
Real Estate Case-Shiller 20-City Home Prices +5.38% Y/Y; Est. 5.50%
U.S. Mint Sales Update
U.S. Mint reported selling 176,000 American Silver Eagles & 2,000 American Gold Eagles today.
MTD American Silver Eagles sold 4,047,000 American Gold Eagles Sold 88,000
YTD American Silver Eagles Sold 18,889,500/American Gold Eagles sold 273,500
April 27, 2016
From Smaulgld.com
Smaulgld spoke to the Daily Coin on a wide range of silver and gold topics.
You can listen here:
The charts that go with the podcast can be accessed here.
Gold
Saxo Bank recommends gold in a negative interest rate environmnent
Gold Trades Higher as Indian Jewelers call off Strike
Silver
BOFA/Merrill Lynch Raises 2016 Silver Price Target to $16.47 (lower than toady’s $17.22 per ounce price)
Federal Reserve
Fed Rate hike decision Fed “sees gradual rate hike appropriate” but doesn’t raise rates
Fed "sees gradual rate hike appropriate" but doesn't raise rates
— Smaulgld (@Smaulgld) April 27, 2016
Fed Waits For Economy To Give iT Green Light To Raise Rates
Fed will get their inflation w/ rising oil prices & by bluffing abt raising rates, which will cause $ to fall making imports more expensive
— Smaulgld (@Smaulgld) April 27, 2016
Fed’s “hawkishness” believed only for a few minutes Dollar Rally Short Lived Post-Fed Meeting
Platinum
Why platinum is overtaking gold this year
Oil
Real Estate
Pending home sales hit ten month high
U.S. Mint Sales Update
U.S. Mint reported selling 25,000 American Silver Eagles & 5,500 American Gold Eagles today.
MTD American Silver Eagles sold 4,072,000 American Gold Eagles Sold 93,500
YTD American Silver Eagles Sold 18,914,500/American Gold Eagles sold 279,000
The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 19,500 sold YTD 79,500 sold
Socialism
Venezuela doesnt have enough money to print its money
April 28, 2016
US Dollar
The dollar continued its descent after the Bank of Japan announced no expansion of their current stimulus plan
Gold
Gold rose on weak US GDP and Bank of Japan inaction
NASA’s New Gold Covered Telescope Reflects Infra-Red light
FT Takes Note of Golds’ Stellar Run
Reuter’s Poll – Gold’s Three Year Rout is Over
Hunting for gold in Egypt’s Deserts
Chinese Monk to live on as Gold Covered Mummy
Gold nano particles may aid in detecting kidney disease
Socialism and Prepping
Venezuela’s economic collapse has left many without food, water and vital services. Prepping can help people get through a breakdown in supply chains. Breakdowns don’t just happen in socialist countries and can be brought on by political unrest, extreme weather, technological/mechanical failures or other factors. The Daily Coin spoke with Daisy Luther to discuss real life examples and solutions of how to prepare for anticipated disruptions. Click here to learn more.
Central Banks
Bank of Japan decides against more stimulus
British Pound
Out vote now leads UK Brexit poll-0 Obama fails to sway Britons
U.S. Economic Data
ROBUST! SOLID! STRENGTHENING!- US Economy Grew .05% in first quarter Reuters writes: “The economy was also blindsided by cheap oil” Blindsided? That the price of oil was cheap was well known. What will the excuse be for poor growth in the second quarter? “The economy was blindsided by expensive oil”?
April 29, 2016
Silver
From the Daily Coin: Silver Moves Towards a Breakout
Fed Chatter
Fed’s Kapan in favor of gradual rate hikes
Oh, and if there is a BREXIT -that is a factor against raising interest rates
Gold
.@zerohedge Muppet with Pet Rock # gold https://t.co/NSo4aLIFsR
— Smaulgld (@Smaulgld) April 29, 2016
Gold rallies on weaker dollar, safe-haven demand
FT: Gold Finds a home under London Street
Silver
Bloomberg Notes Silver is “rocketing”
BREXIT
“Leave” vote increases in poll after Obama urges “Stay” vote.
US Economic Data
Personal Income 0.4%, Exp. 0.3%
Personal Spending: 0.1%, Exp. 0.2%
Personal consumption expenditures (PCE) +0.1 % in March +0.2% in February.
Core PCE +1.6 percent prior 12 months through March
ISM Milwaukee 51.05, Last 57.7
Chicago PMI 50.4, Exp. 52.6
Consumer Sentiment Falls To Seven Month Low
Oil
Oil has biggest gain in seven years despite glut and no production freeze agreement
Brent Crude Set for Biggest Monthly Gain in Seven Years
NY Fed
GDP growth prospects remain moderate for 2016:Q2, standing at 0.8%.
April 30, 2016
From Smaulgld.com
Gold
American Gold Buffalo Coin Sales Spike In April
Sales of American Gold Buffalo coins are on pace to sell about 225,000 in 2016.
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