Special Brexit Edition: In Case You Missed it – Week Ended June 25, 2016

In Case You Missed It – Week Ended June 25, 2016.

Top Gold And Silver Stories from the week ended June 25, 2016.

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The big story of the week was the Brexit vote on Thursday.

Gold and silver

Gold closed last week at $1298.10 and closed this week at $1315.60
Silver closed last week at $17.47 closed this week at $17.72

The gold and silver ratio ended the week at 74:24 to 1

gold silver ratio one year june 24 2016

The gold silver ratio is about flat year over year after reaching over 80:1 in the first quarter of 2016.

Chart of the Week

gold jump $100 june 23 june 24 2016

Gold’s initial reaction to reports that the LEAVE vote had a firm hold on the Brexit vote. Gold at one point as up over $100 an ounce on Thursday evening.

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

June 19, 2016

Four Reasons COMEX Won’t Default

Four Reasons Comex Won't Default from Smaul Gld on Vimeo.

June 20, 2016

Brexit

British Pound Rises 2% on Reduced Brexit Fears

Oil rallies Back over $50 a Barrel

Five Star Movement’s Virginia Raggi Wins Rome’s Mayor Position, Party wins other 19/20 contested town/city mayor seats

Gold

Gold down on easing, waning, receding, falling, dropping, declining, ebbing, fading Brexit Fears

Gold Falls as Brexit fears ease Bloomberg

WSJ Gold falls as Brexit fears wane

Marketwatch: Gold falls as Brexit fears recede

Dollar Falls Pound Soars on reduced Brexit risk

From Smaulgld.com

Russia Slows it Gold Purchases In May

russian gold reserves august 2014 - May 2016

Russia has added 12.9 million ounces (approximately 400 tons) to its reserves from June 2014 through May 2016.

The Wall Street Journal Notes the Popularity of Perth Mint’s Silver Kangaroo Coin

perth mint silver sales 2015 - 2016 May

Perth Mint silver sales of 974,865 were the lowest since the Australian Silver Kangaroo coin was introduced in September 2015.

Will Gold Pan Out?

Gold Fever Hits Australian Town

India’s Gold Monetization Scheme Update

India’s Tiramula temple looking to monetize its gold at short term higher rates of interest

Trump Supporters Tend to Be Gold Bugs

U.S. Mint Sales Update

U.S. Mint reported selling 238,000 American Silver Eagles 1,000 American Gold Eagles today.

MTD American Silver Eagles sold 1,382,500 & American Gold Eagles sold 36,000

YTD American Silver Eagles Sold 24,795,500 /American Gold Eagles sold 379,500

The U.S. Mint reported selling no American Gold Buffalo coins.
MTD 9,000 sold YTD 107,000 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

June 21, 2016

Yellen Yacks

Yellen Appears In Front of Senate Banking Committee

Hesitant to raise rates due to slowing jobs market, Brexit

From Smaulgld.com

Politicians, The Media and Fed Members Themselves Begin To Question The Fed, its Policies and Credibility

AU! That’s My Claim
“pan out” “stake a claim” “pay dirt”

Gold

Prices may have been falling on “reduced Brexit fears” but physical buying soared.

Gold bullion demand surges run-up to EU referendum

Brexit Fears Prompt Savers to Stuff Gold Bars in Safes at Home

Indian Gold Imports Sink

indian monthly gold imports January 2015 March 2016

Indian March gold imports were the lowest monthly imports since September 2013.

The British Pound

Pound rises to highest level since Brexit poll date set

So the British Pound is now strong because Britain might not do anything but remain a stagnant economy within the EU?

Gold

Gold Market Hits Record High in Burma

U.S. Mint Sales Update

U.S. Mint reported selling 371,000 American Silver Eagles 7,500 American Gold Eagles today.

MTD American Silver Eagles sold 1,753,500 & American Gold Eagles sold 43,500

YTD American Silver Eagles Sold 25,166,500 /American Gold Eagles sold 387,000

The U.S. Mint reported selling 2,000 American Gold Buffalo coins.
MTD 11,000 sold YTD 109,000 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

Buy American Silver Eagle Coins

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June 22, 2016

Brexit

Markets/Polls Diverge in Final Days Leading to Brexit Vote

Funds Stock Up on Cash Ahead of Brexit Vote

Britains Stocking up on Foreign Currencies

Britons Line up to Exchange Pounds Pre Brexit Vote

EU to Revisit Turkish EU application days after Brexit vote

FXCM ups Margins on Brexit Fears

Pound Strengthens on Eve of Brexit Vote

Google Predicts Brexit

Gold

From Smaulgld.com

Brazilian flood tragedy leads to increase in gold pan handling

minas gerais church interior

A half a ton of gold was used to decorate the Igreja Matriz de Santo Antonio.

Japanese maker of gold-plated golf clubs planning Hong Kong-listed IPO

US Equity Bubble

Tesla and Solar City to Merge

Two Unicorns are Better than One

mother unicorn and foal

Double Fantasy – The merger of Solar City and Tesla will create a family of unicorns.

Canstockphoto

Silver

Indian Silver Imports Increase

Indian monthly silver imports september 2015 to March 2016

Indian Silver imports rebounded in March.

De-Dollarization

Singapore to Include Yuan Assets as Part of Reserves

Chinese yuan to play major role in int’l financial markets: African bank governors

Fed Chatter

Fed Governor Jerome Powell says Fed is ready for any Brexit fallout

U.S. Economic Data

U.S. Existing-Home Sales Rise at Fastest Pace Since 2007

U.S. Mint Sales Update

U.S. Mint reported selling 86,000 American Silver Eagles 1,000 American Gold Eagles today.

MTD American Silver Eagles sold 1,839,500 & American Gold Eagles sold 44,500

YTD American Silver Eagles Sold 25,252,500 /American Gold Eagles sold 388,000

The U.S. Mint reported selling no American Gold Buffalo coins.
MTD 11,000 sold YTD 109,000 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

June 23, 2016

Pre Brexit Results News

Betfair odds at 86% probability of UK voting to remain in EU

British Pound hits high of the year

If remain wins, the Fed rate hike talk begins again

It’s raining across Great Britain

The remain vote will remain home in the rain

If Brexit, the pound may take a beating but UK will still be the UK- what will become of the EU and the Euro?

Smaulgld.com

Gold

Gold Finds In Ireland

irish map

While the Emerald Island has no known emerald deposits, gold deposits are being found all over Ireland.

The Gold Drop Outs of Uganda

BREXIT VOTE

Brexit Rules Britannia

silver after brexit june 23 june 24

Silver, like gold, spiked on Brexit.

Another reason not to buy gold besides it doesnt pay interest it receives no bail outs or subsidies

U.S. Economic Data

Initial Claims 259K, Exp. 270K

US Jobless claims fall to 43 year low

New Home Sales 551K, Exp. 560K, Last 586K (revised down from 619K).

New home sales fall- what housing ‘recovery’? http://www.wsj.com/articles/pace-of-u-s-new-home-sales-slows-in-may-1466690670

US Mfg PMI 51.4, Exp. 50.9, Last 5.07

TBTF Banks

Deutsche Bank to close 188 branches, fire 3000 workers

Silver

Another Reason Not To Buy Gold
Gold doesn’t get government subsidies or bailouts
Surely the Oracle of Omaha is aware of this

BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange

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June 24, 2016

It’s Brexit! Now what?

Brexit Fall Out

From Smaulgld.com

Gold and Silver

The price of gold and silver shot up but then miraculously stabilized

Gold price post brexit central bank stabilization

Gold traded in an incredibly tight range today after an initial burst higher in reaction to the Brexit vote.

silver post brexit central bank stabilization

Silver’s price action was steady as can be in mid Friday post Brexit trading.

DEVOLUTION

Netherlands, France Italy want their own referenda

Ireland wants united Ireland referendum

Scotland wants a referendum

Gold Sales Surge
In the coming days we will hear from the same people warning of disaster how Brexit is manageable under their skillful guidance

EU issues statement “respects the decision”

China is also “monitoring” the Brexit situation

Global central banks attempt to stabilize Brexit fall out

London gold dealers report surge in coin, bar demand on Brexit vote

Fed chatter

Fed Statemennt on Brexit – we are ‘carefully monitoring’ – will provide liquidity

Former Fed Chair Alan Greenspan – This is the Worst!

Gold

Health benefits of Gold

U.S. Economic Data

UMich 93.5, Exp. 94.0, Last 94.7

U.S. MAY DURABLE GOODS ORDERS FALL 2.2%; exp 0.5% EX-TRANS. DROP 0.3%

Coin Finds

Roman coins found in Devon England

Pompeii

Gold coins, skeletons dug up in Pompeii site

Skeletons, coins found in dig of ancient Pompeii shop

Forbes

U.S. Mint Sales Update

U.S. Mint reported selling no American Silver Eagles 1,500 American Gold Eagles today.

MTD American Silver Eagles sold 1,839,500 & American Gold Eagles sold 46,000

YTD American Silver Eagles Sold 25,252,500 /American Gold Eagles sold 389,500

The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 11,500 sold YTD 109,500 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

Buy American Silver Eagle Coins

June 25, 2016

From Smaulgld.com

Gold as Insurance – The Brexit Lesson

gold vs british pounds june 24 2016

In 2016, Gold rose 33% against the British Pound from January -June.

The Remain backlash

Young people supporting remain have NOTHING to gain but have been sold the concept of “inclusion” and not being racist.

Today there were

Protests

Recording artists complaining at Glastonbury and

Demands for another referendum

Democracy, by definition always dictates to the minority.

Having lost the vote, the remain camp are claiming they are being “held hostage”, “removed from the EU against their will” (and if the vote had gone the other way wouldn’t the leave camp have been forced INTO the EU against their will?)

If they had won, they would have said “respect democracy” “the people have spoken”
Now they are saying “democracy failed”

You Tube Notes to this report

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