In Case You Missed It – Week Ended June 11, 2016

In Case You Missed It – Week Ended June 11, 2016.

Stories from the week ended June 11, 2016.

The Lowest Cost. Period.

NEW: Smaulgld commentary on this In Case You Missed It report now available on You Tube here.

The big economic news of the week was the fall out from the poor jobs report from last Friday, and Fed officials insisting that rate hikes were still coming and (hoping) that perhaps the slow down in jobs was transitory. Gold and silver ignored the calls for future rate hikes and headed higher all week.

Gold and silver

Gold closed last week at $1243.50 and closed this week at $1273.30
Silver closed last week at $16.39 closed this week at $17.28

The gold and silver ratio ended the week at 73.64:1

gold silver ratio june 10 2016

The gold silver ratio fell last week as silver rose more than gold.

Chart of the Week

silver eagle premiums June 10 2016

Silver Eagle premiums have fallen since the Great Silver Shortage of 2015.

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

June 4, 2016

Cashless Society

Last Hurrah for British Bank Notes

June 5, 2016


Ghana to produce 2.7 million ounces of gold in 2016

Economic Insanity

Swiss reject basic income proposal


Danish PM worries his citizen may eye the EU exit if Britain votes to leave, say Denmark shouldnt even consider it


Russia’s Stacking Gold Faster Than China (Podcast)

Russian and Chinese Central Bank Additions to Gold Reserves August 2015 - April 2016

Russia added 58 more tonnes of gold to its reserves than China from August 2015 – April 2016.

June 6, 2016


Indian Gold Imports Drop for fourth month in a row

China begins to extract gold from Tajikistan mine

Bank of Montreal files to say Vaulted Gold Bullion Trust to issue $500 mln of gold deposit receipts

Large Scale Gold Mine Approved for New Zealand

18 Karat Chicken McNugget In Japan story also covered by Mashable.

Fed Chatter

Rate Hike Yack Attack: Fed’s Rosengren flags jobs report, yet says Fed rate hikes coming

Yellen to reintroduce “patience” “global uncertainty” “transitory” today?

3/3 Yellen mentioned global uncertainties, transitory and Fed President Lockhart stressed patience

Fed President Lockart stresses “patience”

Yellen Yacks

Yellen Speech Indicates Fed May Rethink Rate Hike Plan

Yellen Delusion: As Labor market deterioriates she says rate hike appropriate “provided that labor market conditions strengthen further” YET Fed’s job index hits lowest in seven year- shows labor market weakening!

Text of Yellen Speech


Scientists using silver to make lights shine brigher

U.S. Mint Sales Update

U.S. Mint reported selling 720,000 American Silver Eagles 16,500 American Gold Eagles today.

MTD American Silver Eagles sold 720,000 & American Gold Eagles sold 16,500

YTD American Silver Eagles Sold 24,133,500 /American Gold Eagles sold 360,000

Buy American Silver Eagle Coins

The U.S. Mint reported selling 3,500 American Gold Buffalo coins.
MTD 3,500 sold YTD 101,500 sold

The U.S. Mint Reported selling 33,000 Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

June 7, 2016



People’s Bank of China Halts Gold Purchases in May

people's bank of china gold reserves from 2009 through April 2016

The People’s Bank of China added 11 tonnes of gold to reserves in April 2016 and none in May 2016.

*many suspect that “China” has under reported its gold reserves. See “The Case of China’s Missing Gold and “China’s President Confirms Practice Of Moving Official Reserve Assets To Other Entities In China.

Sales Of American Gold Buffalo Coins Surge 95%

american gold buffalo coin sales in may 2006 -2016

The U.S. Mint sold 18,500 American Gold Buffalo coins in May 2016, the second highest May sales total in the coin’s history.

You can compare American Gold Buffalo coins for sale at these websites:
Golden Eagle Coins
JM Bullion
Money Metals Exchange


500 Year Old Shipwreck filled with gold found in Namibian desert

You can still pay with gold at this historic California hotel

Incredibly rare 2,300-year-old Ancient Greek gold crown worth £100,000 “discovered” by owner

S&P’s Gunzberg on Commodities Rally, Gold Could See $1800 an ounce (Audio)

India’s Gold import drop by 51% in May


A better and eco friendly way to clean silver

Rare cache of silver coins discovered in Israel

US Economic Data

Q1 Nonfarm Productivity: -0.6%, Exp. -0.6%, Last 1.0%
Q1 Unit Labor Costs: 4.5%, Exp. 4.0%, Last 4.1%

U.S. Mint Sales Update

U.S. Mint reported selling 113,500 American Silver Eagles 500 American Gold Eagles today.

MTD American Silver Eagles sold 833,500 & American Gold Eagles sold 17,000

YTD American Silver Eagles Sold 24,246,500 /American Gold Eagles sold 360,500

Buy American Silver Eagle Coins

June 8, 2016


Sales of America The Beautiful Coins top 2015 Sales

Top selling ATB coins smaulgld through June 2016

Two of the top selling ATB coins are from the 2016 series.


Egypt looking to start up its gold mining business in the shadows of the Pharaohs

Gold miners gear up for growth

New company can turn water into gold and other precious metals

British Royal Mint to Sell Gold Bars For Pensions

Central Bank Insanity

Commerzbank considers hoarding billions to avoid ECB charges


U.S. Economic Data

Hiring Tumbles as Job Opening Soar


Inventories Fall and Production Rises

U.S. Mint Sales Update

Buy American Silver Eagle Coins

June 9, 2016

How the Federal Reserve Manages the Dollar and Avoids Collapse

Will the Fed Sacrifice the Dollar for the Markets?

Shanghai Gold Exchange Gold Withdrawals Lower in May

Shanghai gold exchange 2008- 2016 through may

Through May 2016, SGE withdrawals were 835 tonnes, or 15% lower than 983 tonnes withdrawn through May 2015.


London gold demand up on Brexit concerns

George Soros shorting stocks, buying gold

CNBC: Why some investors say it’s time to hoard gold


Bloomberg: Silver Acting Like Gold On Steroids

Silver ‘gone mental’ as investors place big bets

Silver Shekel Stash: 2,000-Year-old Coins Uncovered in Israel


Sterling hedging costs rise on Brexit possiblity

US Economic Data

Wholesale Inventories 0.6%, Exp.0.1%
Wholesale sales 1.0%, Exp. 1.1%

June 10, 2016

Fed Chatter

Fed’s Meister sees rate hike despite weak jobs data

U.S. Economic Data

UMich 94.3, Exp. 94, Last 94.7


“Leave” vote takes ten point lead in latest poll

You Tube Notes to this report

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