In Case You Missed It – Week Ended June 4, 2016

In Case You Missed It – Week Ended June 4, 2016.

Stories from the week ended June 4, 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 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

gold silver ratio may 2016

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

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

We missed it’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


Real Estate

Why Are New Home Sales Still Far Below Those of Prior Decades?

new home sales 1963 -2016 high low by decade

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.


Pakistan’s gold imports increase 20% in ten months

Fed Chatter

Bullard says markets prepared for summer rate hike

May 31, 2016



American Silver Eagle Sales up 122% in May

American silver eagle sales in may 1987 -2016

May sales of American Silver Eagles were the highest May total ever and follow record first quarter sales.

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Top Three Sovereign Mints Report 32% Silver Sales Growth in First Quarter

American silver eagle sales in may 1987 -2016

May sales of American Silver Eagles were the highest May total ever and follow record first quarter sales.


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


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



Top Sovereign Mint Gold Sales Grow 54% in First Quarter

Perth Canadian and US mint gold sales in q1 2016

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 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%


AIIB president says bank to have 100 members by year end


Platinum falls on US Car Sales Data

June 2, 2016



American Gold Eagle Sales up 378% in May

american gold eagle may sales 1987 -2016

May 2016 sales of one ounce American Gold Eagle coins were the seventh best May sales in the coin’s history.

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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

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Plastic Cash

Britain unveils plastic bills

June 3, 2016



Perth Mint May Silver Sales up 189%

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.

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.”


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

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

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

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