In Case You Missed It – Week Ended June 4, 2016.
Stories from the week ended June 4, 2016.
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 massive non farm payroll miss on Friday. The Bureau of Labor Statistics reports that just 39,000 jobs were created in May. Expectations were for 160,000 jobs.
Gold and silver
Gold closed last week at $1212.80 and closed this week at $1243.50
Silver closed last week at $16.20 closed this week at $16.39
The gold and silver ratio ended the week at 75.45 to 1
The gold silver ratio rose in May as silver got hit harder than gold during the month.
Photo of the Week
Children of the Damned and Iron Maiden
https://twitter.com/Smaulgld/status/738665044712521728
Sign Up For Smaulgld.com Updates Here!
Check out all the Smaulgld.com Podcasts here
Here are the stories we wrote, followed or commented on.
We missed it
Smaulgld.com’s article “The Dark Side of a Cashless Society” was cited by Payments NZ in their analysis of the impact of going cashless. About Payments NZ: “Payments NZ was established in 2010 by eight banks, with support of the Reserve Bank, with a mandate to open access to and preserve the integrity of New Zealand’s payments system. Our eight shareholder banks are ANZ, ASB, BNZ, Citibank, HSBC, Kiwibank, TSB and Westpac”.
May 30, 2016
From Smaulgld.com
Real Estate
Why Are New Home Sales Still Far Below Those of Prior Decades?
New home sales between the “housing recovery” years 2010 – 2016 are at best comparable to the new home sales of the 1960’s.
Chart source: US. Bureau of the Census, New One Family Houses Sold: United States, retrieved from FRED, Federal Reserve Bank of St. Louis May 24, 2016.
Gold
Pakistan’s gold imports increase 20% in ten months
https://twitter.com/Smaulgld/status/737300410034180096
Fed Chatter
Bullard says markets prepared for summer rate hike
May 31, 2016
From Smaulgld.com
Silver
American Silver Eagle Sales up 122% in May
May sales of American Silver Eagles were the highest May total ever and follow record first quarter sales.
Top Three Sovereign Mints Report 32% Silver Sales Growth in First Quarter
May sales of American Silver Eagles were the highest May total ever and follow record first quarter sales.
Gold
India Rolls Back Sales Tax on Gold Jewelry
Peru’s Illegal Gold Miners May Get A Break
Solid Gold Maltese Eagle Worth Five Million Dollars Stolen
Silver
Mexico’s “Silver King” Alberto Bailleres sees wealth rise $1.3 billion silver price increase
US Economic Data
Chicago PMI 49.3, Exp. 50.5, Last 50.4
Dallas Fed -20.8, Exp. -8
Case-Shiller 20-City Home Prices Rose 5.43% Y/Y; Est. 5.16%
Personal Income 0.4%, Exp. 0.4%, Last 0.4%
Personal Spending 1.0%, Exp. 0.7%, Last 0.1%
Consumer Confidence 92.6, Exp. 96.2, Last 94.2
Higher gas spending fueled the increase
WSJ Spin: “the latest sign the economy is improving after a sluggish start to the year.”
and U.S. consumer spending surges; inflation creeping up the word “GAS” not mentioned once in this Reuters story
Fed Chatter
Back peddling
St. Louis Fed President Bullard says take a wait and see approach to rate hikes
U.S. Mint Sales Update
U.S. Mint reported selling 579,500 American Silver Eagles 7,500 no American Gold Eagles today.
MTD American Silver Eagles sold 4,498,500 & American Gold Eagles sold 64,500
YTD American Silver Eagles Sold 23,413,000 /American Gold Eagles sold 343,500
The U.S. Mint reported selling 2,500 American Gold Buffalo coins.
MTD 18,500 sold YTD 98,000 sold
June 1, 2016
From Smaulgld.com
Gold
Top Sovereign Mint Gold Sales Grow 54% in First Quarter
The Perth, Canadian and U.S. Mints sold 650,870 ounces of gold in the first quarter of 2016.
Sudan gold revenue near $1 billion in three months
Silver
Silver fundamentals look solid to Commerzbank
US Economic Data
ISM Mfg 51.3, Exp. 50.3, Last 50.8
U.S. April Construction Spending -1.8%; Est. +0.6%
De-Dollarization
AIIB president says bank to have 100 members by year end
Platinum
Platinum falls on US Car Sales Data
June 2, 2016
From Smaulgld.com
Gold
American Gold Eagle Sales up 378% in May
May 2016 sales of one ounce American Gold Eagle coins were the seventh best May sales in the coin’s history.
U.S. Economic Data
ADP 173K, Exp. 173K, Last 156K
Initial Claims 267K, Exp. 270K
ISM NY April 37.2, May 57.0
Fed Chatter
Dallas Fed President Kaplan says rate hike appropriate but after Brexit vote, cites “full employment”
U.S. Mint Sales Update
U.S. Mint reported selling 71,000 American Silver Eagles & 9,500 American Gold Eagles today.
MTD American Silver Eagles sold 71,000 & American Gold Eagles sold 9,500
YTD American Silver Eagles Sold 23,484,000 /American Gold Eagles sold 353,000
The U.S. Mint reported selling 3,000 American Gold Buffalo coins.
MTD 3,000 sold YTD 97,500 sold
Plastic Cash
June 3, 2016
From Smaulgld.com
Silver
Perth Mint May Silver Sales up 189%
Perth Mint silver sales of 974,865 were the lowest since the Australian Silver Kangaroo coin was introduced in September 2015.
US Economic Data
Non Farm Payroll 38K Exp. 160K
Unemployment Rate 4.7
Wages 0.2
62.6% Labor Force Participation Rate down 0.2 / 458K shrinkage of labor force
US Trade Deficit Increases 5.3% in April BUT Reuters spin “as exports of goods rebounded strongly, suggesting that trade would be a boost to economic growth in the second quarter.”
Gold
Canada Out of Gold Foot note: “On May 31, the Government had no holdings of gold.”
Gold miner stocks blast off after weak jobs data
Fed Chatter
Back-peddling
Pre Jobs report
Chicago Fed President Evans sees case for deferring U.S. rate hikes for years
Post Jobs Report
Fed Governor Brainard – Fed should wait on raising rates as job market has slowed calls job report ‘sobering‘
The Fed will raise interest rates
https://twitter.com/Smaulgld/status/738742922523357184
The Fed wants a not too strong dollar that it crimps military exports and not too weak that it lowers demand for US Treasuries.
You Tube Notes to this report
Check out all the Smaulgld podcasts here.
Please consider making a small donation to Smaulgld.com. Thanks!
Sign Up For Smaulgld.com Updates Here!
If you have enjoyed this report, please consider sharing it, buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.
Get Free Updates From Smaulgld.com
Subscribe to Smaulgld.com to receive free gold and silver updates, news and analysis.
Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items.
You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Bullion Vault, Gold Broker, Golden Eagle Coin, GoldMoney, SD Bullion, Perth and Royal Canadian Mint ads on the site.
Browse Collectible Coins on Amazon
DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.
Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. You should always consult a professional investment adviser before investing in precious metals or any type of investment. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site.
The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.
The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.
Send Litecoin to this address:
