In Case You Missed It – Week Ended December 26, 2015

In Case You Missed It – Week Ended December 26, 2015.

Stories from the week ended December 26, 2015.

Buy Gold and Silver

The week was light on news stories during the days preceeding Christmas.

The main economic news of the week was related to digesting new U.S. economic data in the aftermath of the Fed’s rate hike the prior week.

Interest Rate Hike Deniers

Interest rate hike deniers back peddled about why they really weren’t wrong about their no Fed interest rate hike in 2015 calls. Jim Rickards (I was right until they raised rates) and Peter Schiff (others were more wrong than me) made their cases that they were indeed correct.

Smaulgld was right all along in prediciting a Fed rate hike by year end.

Gold and Silver

Gold closed last week at $1066.10 and closed this week at $1076.30

Silver closed last week at $14.08 and closed this week at $14.38.

The Lowest Cost. Period.

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

December 19, 2015


Senate passes International Monetary Fund (IMF) reform as part of budget deal that gives emerging economies China, Russia India and Brazil greater voting power in the IMF.

December 20, 2015


CNBC continues it’s gold bashing tradition – “perfect storm for gold”

Gold found in 2000 year old Chinese tomb of a marquis of the Western Han Dynasty

India’s Gold Monetization Scheme

Gold held in Indian temples not ready to be monetized

Government Intervention

Japan to buy $2.5 billion of non existent ETFs.

European Politics

Spain’s ruling party wins elections but fails to gain majority.

Putin vows to stand behind Russian in Ukraine.

The Fed Continues the Rate Hike Chatter

Atlanta Fed President sees rate hike every other meeting.

December 21, 2015


Rouble contiunues its slide.

EU extends sanctions on Russia.

Government Intervention

China signals more stimulus/flexible policy on their economy.


BN Amro BNP Paribas, Deutsche Bank and Goldman Sachs have all forecast sub $1,000 an ounce gold.

Thirteen Killed in Gold Mine Collpase in Guinea

U.S. Economic Data

Chicago Fed National Activity Index –0.30 in November from –0.17 in October.

IPOs slump at year end

December 22, 2015


Turkey, Kazakhstan add to gold reserves.

Canadian gold manipulation lawsuit filed against Bank of Nova Scotia

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Trade Wars

U.S. to levy 256% tarrif on Chinese steel – a clever way of driving up inflation!

U.S. Economic Data

Final Third Quarter GDP +2.0%

Real Estate Slumps – A New Excuse

Existing home sales 4.76M Exp 5.35M Prior 5.32M down 10.5%

“Paperwork” is the new “weather” for excuses for bad housing reports.

Reuters, citing National Association of Realtors talking point, blames “paperwork: “although new regulations on paperwork for home purchases may have driven the decline”.

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Asian demand to buoy gold price

European Banks

Deutsche bank in $10 billion of suspect Russian trades?

December 23, 2015

U.S. Economic Data

Consumer spending up



Zimbabwe grants Chinese Yuan official currency status


Gold’s Importance to Countries.

Bloomberg covers the importance of gold in China and India

Smaulgld’s take on the importance of gold

Silver Doctors reports CNBC commmentator and perma gold bear Dennis Gartman goes long gold

Real Estate

New Home Sales 490K, Exp. 505K

Manufacturing Craters

Capital goods orders drop 0.4% in November and October’s reading of +0.6% was revised to -1.3%.

BUT Reuters reports “rising income brightens outlook” “the outlook for the economy remains encouraging”

Atlanta GDP fourth quarter revised down to 1.3%


Russia May Deplete Reserve, National Welfare Funds by 2019

Asset Forefetiure

Feds shut down controversial asset forfeiture program

December 24, 2015

U.S. Economic Data

Initial Jobless Claims Data Touted as “best in decades”

Initial Jobless claims 267K (lowest since 1972) Exp. 271K prior 272K

We noted in August of 2013, the initial jobless claims number in today’s economy is a poor indicator of the strength of the labor market.

…fewer employees in the labor market, fewer left to fire….

December 25, 2015

Merry Christmas

December 26, 2015


Shanghai Gold Exchange Withdrawals Top 2500 Tonnes for 2015

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