In Case You Missed It – Week Ended May 21, 2016

In Case You Missed It – Week Ended May 21, 2016.

Stories from the week ended May 21, 2016.

The Lowest Cost. Period.

The big economic news of the week was the release of the Fed minutes from April that showed “members” thought that a rate hike might be appropriate at the next Fed meeting. Many Fed Presidents made hawkish statements during the week. The dollar rose and gold fell.

Gold and silver

Gold closed last week at $1272.30 and closed this week at $1251.90
Silver closed last week at $17.08 and closed this week at $16.50

The gold and silver ratio ended the week at 75.74

one year gold silver ratio may 19 2016

The gold silver ratio ticked up last week as silver declined more than gold.

Chart of the Week

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.

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

May 16, 2016



Big Four Sovereign Mints Sales Topped 3.7 Million in 2015

austrian mint gold sales with flag 2008-2015

Austrian Mint gold sales were up 215% in 2015.

China’s ICBC Standard Bank to buy Barclays’ precious metals vault Vault can hold 2,000 tons of gold

Forbes Why gold is a better investment than Apple

Analysts puzzled by swift fall of gold and silver prices today

Gold Depository On Its Way Texas

Trading in Indian gold bonds to begin by month-end: Finance Ministry

BUT the Indian Gold Monetization Scheme is not Working

ElDorado sells remaining gold mines to China


Open output signals oil glut


Platinum Supply Projected to Decrease as Demand Increases

U.S. Economic Data

NY Fed -9.02, Exp. 6.5

Too Big To Fail Banks

HSBC to layoff 840 IT workers

Fed Chatter

Richmond Fed President says rate hike should be on the June agenda

The case for raising rates looks pretty strong in June” Lacker is a non voting member.

U.S. Treasury Bonds

US Treasury discloses Saudi Arabia Treasury Bond holdings for the first time

May 17, 2016



Indian Silver Imports Down In February

indian monthly silver imports august -feb 2016

Indian Silver imports in February were impacted by a nation-wide jewelry strike.


JP Morgan Buy Gold

Russia and China Ditch Dollars for Gold

Russia and China buy physical Gold, not GLD

How Much Gold is in London?

Soros adds to gold position, buys Barrick gold mining shares
Gold Gleams Amid Voracious Demand

Gold Tourism Coming to India

U.S. Economic Data

Industrial production 0.7%, Exp. 0.3% (led by increase in utilities)

CPI 0.4%, Exp. 0.3%, Last 0.1% Gas prices +8.1%

So Fed can raise rates because of higher gas prices?


Real Estate

Housing Starts Increase Reuters editorializes “supporting views that the economy was regaining steam early in the second quarter.”

Housing Starts: 1172K, Exp. 1125K, Last 1099K
Housing Permits: 1116K, Exp. 1135K, Last 1077K

Fed Chatter

SF Fed President Williams, Atlanta Fed President Lockart and repeat their views- two rate hikes in 2016 and June is a “live” meeting, Dallas Fed President Robert Kaplan rate hike appropriate at “upcoming meeting”. None of the three are voting members this year.

June Rate Hike Yackers: Messrs. Williams, Lacker, Kaplan and Lockhart have no vote at June’s FOMC meeting

May 18, 2016



Indian Gold Imports Down in February

Indian Monthly gold imports from August 2014 - Feb 2016

Indian February gold imports were the lowest monthly imports since December 2014.

A rate hike will hurt the stock market far more than gold

Trump warns of Silicon Valley Bubble, SV execs mock

Bank of Russia Shelves Plan to Boost Its Reserves Amid Oil Rally

April Fed Minutes Signal Rate Hike in June …if conditions warrant

The Fed Will Do One Rate Hike This year

Why The Fed Raised Rates

U.S. Mint Sales Update

U.S. Mint reported selling 867,500 American Silver Eagles & 10,000 American Gold Eagles today.

MTD American Silver Eagles sold 2,925,500 & American Gold Eagles sold 30,000

YTD American Silver Eagles Sold 21,840,000 /American Gold Eagles sold 309,000

The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 11,000 sold YTD 90,500 sold

Buy American Gold Buffalo Coins

May 19, 2016

Fed Chatter


Why the Fed Raised Interest Rates in 2015 and Why They Will Raise them in 2016

Fed Vice Chair Fisher says U.S. needs faster growth potential

Richmond Fed President comfortable with Four rate hikes in 2016

Voting Member Dudley says June is a “Live” meeting

Dudley says important for markets to grasp Fed thinking

US Economic Data

Philly Fed -1.8, Exp. 3.0

Jobless Claims 278K, Exp. 275K

YET Reuters

“latest sign that the economy was regaining speed” “strong job market”, “upbeat picture of the economy”


The instability caused by a nominal rate hike will rock currencies & the stock market creating a positive distubance for #gold and #silver

U.S. Mint Sales Update

U.S. Mint reported selling 77,500 American Silver Eagles & 6,000 American Gold Eagles today.

MTD American Silver Eagles sold 3,003,000 & American Gold Eagles sold 36,000

YTD American Silver Eagles Sold 21,917,500 /American Gold Eagles sold 315,000

The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 11,500 sold YTD 91,000 sold

The U.S. Mint reported 11,000 Cumberland Gap National Historical Park America the Beautiful five ounce coins sales today
MTD 11,000
YTD 75,000
Total ATB coins sold YTD 180,000

America The Beautiful Silver Bullion Coins for sale

America The Beautiful Silver Bullion Coins – available from

May 20, 2016



Russia Adds Another 500,000 Ounces of Gold To its Reserves in April

Russian Central bank gold reserves June 2015-April 2016

Russia added 500,000 ounces of gold to its reserves in April 2016.

Nazi victim’s hidden jewels discovered at Auschwitz museum


Should you sell the family silver?

Silver in pillow case keeps bacteria at bay

Real Estate

Existing home sales 5.45MM, Exp. 5.4MM

U.S. Mint Sales Update

U.S. Mint reported selling 25,000 American Silver Eagles & 2,500 American Gold Eagles today.

MTD American Silver Eagles sold 3,028,000 & American Gold Eagles sold 38,500

YTD American Silver Eagles Sold 21,942,500 /American Gold Eagles sold 317,500

The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 13,000 sold YTD 92,500 sold

May 21, 2016


Podcast Where Does Silver Come From?

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

Get Free Updates From

Subscribe to and get the free In Case You Missed Itweekly email as well as updates and analysis on gold, silver, real estate and the economy.

Also get the free report “Twelve Key Differences Between Gold and Silver” when you subscribe.

Subscribe to 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 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 Silver Coins on Amazon

Buy Silver Austrian Philharmonic Coins

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.

Post Navigation