In Case You Missed It – Week Ended May 14, 2016

In Case You Missed It – Week Ended May 14, 2016.

Stories from the week ended May 14, 2016.

The Lowest Cost. Period.

The big economic news of the week was the continued barage of Fed President statements indicating that a rate hike might happen at the June Fed meeting. Also drawing market observers’ attention was the “stronger than expected” April retail sales number released on Friday. The number seemed at odds with reports of major retailers (JC Penny, Macys and others) whose most recent sales numbers had been in decline. Gas prices rose adding to the retail sales total,

Gold and silver

Gold closed last week at $1287.70 and closed this week at $1272.30
Silver closed last week at $17.43 and closed this week at $17.08

The gold and silver ratio ended the week at 74.52:1.

gold silver ratio may 13 2016

The gold silver ratio was flat week over week last week.

Chart of the Week

gold vs turkish lira may 13 2016

Gold hit a new high against the Turkish Lira last week.

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

May 9, 2016



The People’s Bank of China adds 11 Tons of Gold to Reserves

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.

Eldorado Gold To resume work on Greek mine

Nazi Gold Train hunter search for treasure

Akshay Tritiya gold sales down



Canadian Mint Silver Sales Set Record in 2015

Canadian Mint Silver Sales 2005 -2015

canadian mint silver sales 2005-2015

Sales of silver at the Canadian Mint have risen from under one million ounces in 2005 to over 34 million ounces in 2015.

Compare Canadian Silver Maple Leaf coins for sale at these online bullion dealers:
Golden Eagle Coin
JM Bullion
Money Metals Exchange

NY Court Investigates Silver and Gold Rigging

Fed Chatter

Chicago Fed President favors ‘wait and see’ approach on rate hikes.

Minneapolis Fed President says interest rates about right, but adds a June rate hike is a possibility

Reuters editorializes “Encouraged by a strengthening labor market, Fed policymakers raised rates in December for the first time in nearly a decade.”

The Dollar

May 10, 2016



The Big Four Sovereign Mints Sold Over 100 Million Ounces of Silver in 2015

silver sales at the big four sovereign mints 2014-2015

Each of the four major sovereign mint experienced sales growth in their silver products. The Canadian, Perth and United States set silver sales records in 2015.



Canadian Mint Gold Sales Rise 34% in 2015

Canadian Mint Gold Sales 2007 -2015

Canadian mint gold sales 2007 -2015

The Canadian Mint has averaged sales of over one milllion ounces of gold a year since 2008.

You can compare Canadian Gold Maple Leaf coins for sale at these online dealers:
Golden Eagle Coin
JM Bullion
Money Metals Exchange

Britain’s Largest Gold Nugget Found off the coast of Anglesey.

U.S. Economic Data

JOLT Job Openings 5.76 million vs exp 5.56 million.

Fed Chatter/De-Dollarization

NY Fed President Dudley says he’d welcome more reserve currencies in addition to the US Dollar

Puerto Rico

US Treasury to restructure, not bail out Puerto Rico

Buy American Gold Eagle Coins

Post Fed Chatter

Former Fed President Kocherlakota: The Fed made the poor poorer by not having looser monetary policy that would have driven stock and home prices higher

May 11, 2016



Top Silver Mining Companies in 2015


World’s Largest Silver Miner Aims For Double Digit Silver Mining Production in 2016

Top silver producing companies 2014 -2015

All top ten silver mining companies saw production increases in 2015 over 2014, except Pan American whose output was flat year over year.


JP Morgan – Gold Is In A New Bull Market

Goldman Sachs- Ups Price Target on its Bearish Gold Call

Hedge Fund Manager Paul Singer: Gold Rally Just Getting Started

Indian Gold Smuggling up to Avoid Tarrif

May 12, 2016



There Goes Silver… Down the Drain!



Shanghai Gold Exchange Withdrawals down in April

2016 Shanghai Gold Exchange Withdrawals 2008 -2015

Shanghai gold exchange final 2105 vs 2009 - 2014

Withdrawals on the Shanghai Gold Exchange in 2015 were 23.5% higher than 2014 and 19.07% higher than prior record year 2013.

World Gold Council Reports Gold Demand at record levels in Q1 2016

Gold Fund Buying Frenzy

Indian Gold Demand to Rise on good Monsoon Rains

Gold demand off to fastest start ever in 2016

Here we go with the M & A in the mining sector!

Goldcorp to buy Kaminak for $520-million as gold rallies

Gold in the Toilet!

Gold Coins Worth 57 Lakh…Found In An Airline Toilet At Amritsar Airport!

Story of the California Gold Rush

A gram of gold can be stretched 2 milles!!

U.S. Economic Data

Initial Claims 294K, Exp. 270K

Bloomberg : a sign progress in the U.S. job market is moderating.

Reuters The spike in jobless claims and moderation in employment gains likely do not suggest a deterioration given difficulties

Import prices 0.3%, Exp. 0.6%

Poll: Fed to hold off on rate hikes until September then raise them right before the Presidential election?


Central banks buying up gold to diversify away from US dollar


Brexit may worsen unemployment, Bank of England warns

leaves interest rates at 0.5 as growth slows

Euro zone growth momentum weakening, Brexit a major risk: Reuters poll (more than migrant invasion?)

Canadian Banker warns: Brexit will lead to lower living standards and falling house prices

Fed Chatter

Fed Chatter Dollar Rally

Boston Fed President says market wrong about the Fed says underestimates potential for rate hikes and the strength of U.S. economy.

Gold and Silver Smash Dow

The Canary Must Not Be Allowed To Sing

U.S. Mint Sales Update

U.S. Mint reported selling 972,500 American Silver Eagles & 9,000 American Gold Eagles today.

MTD American Silver Eagles sold 2,058,000 & American Gold Eagles Sold 20,000

YTD American Silver Eagles Sold 20,972,500/American Gold Eagles sold 299,000

The U.S. Mint reported selling 3,500 American Gold Buffalo coins.
MTD 10,000 sold YTD 89,500 sold

May 13, 2016



Gartman – I am getting more bullish on gold

Rakesh Jhunjhunwala (India’s biggest equity bull) recommends gold, cites negative interest rates

Turkish Gold Imports Surge 92% in April to 3.2 metric tons, highest level this year

Three ways to tell if gold is counterfeit

Men arrested for trying to smuggle gold in their rectums


Solar Power Driving Silver Demand

Silver Nanowire technology may boost silver demand More on this story here

Fed Chatter

Yellen letter reveals negative interest rates not ruled out

U.S. Economic Data

Retail Sales +1.3 +0.8 ex autos

PPI. +0.2% Core +0.1%


U.S. purchases at retailers rose in April by the most in a year, indicating consumer spending will help shore up economic growth & “continue to spend strongly

Yet the sales gains were in higher gas prices and retailers Macy’s Nordstroms, JC Penny Dillards all had lower than expected sales.


Strong U.S. retail sales, consumer sentiment data buoy economic outlook

Bank of America: We are witnessing a stock market ‘exodus’

May 14, 2015



Top Silver Mining Countries in 2015

silver mining output by country 2015 compared to 2014

The top two silver mining countries, Mexico and Peru increased their output in 2015.

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