In Case You Missed It – Week Ended May 7, 2016

In Case You Missed It – Week Ended May 7, 2016.

Stories from the week ended May 7, 2016.

The Lowest Cost. Period.

The big economic news of the week was the far lower than expected ADP and Non Farm Payroll numbers. The big general news was Donald Trump winnining Indiana Presidential Primary and his two competitors, John Kasich and Ted Cruz dropping out, leaving Mr. Trump as the presumptive Republican nominee.

Gold and silver

Gold closed last week at $1292.50 and closed this week at $1287.70
Silver closed last week at $17.82 and closed this week at $17.43

The gold and silver ratio ended the week at 74.47:1.

gold silver ratio may 6 2016

The gold silver ratio ticked up from last week.

Chart of the Week

gold COT may 6 2016

Speculative gold long interest now at higher levels than 2010/2011 bull market.

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

May 1, 2016

Too Big To Fail Banks

FCA sees issues in Deutsche Bank controls over financial crimes, FT reports

May 2, 2016



Four for Four

April 2016 American Silver Eagle Sales Top Four Million For Fourth Month in a Row

April american silver eagle sales 1986 2016

April sales of American Silver Eagles were the second best April total ever and follow record first quarter sales.


Bloomberg: Gold Keeps Shining as Funds Miss Out on Best Rally in Two Months

World’s Tiniest Engine For Medical Uses Powered by Gold Nano Particles

Fed Chatter

Fed’s Williams Says Rate Hikes Could Depress Asset Prices, but says Fed ready for rate hikes

The Dollar

Saudi Arabian Minister Confirms US T Bond Dump Threat re 9/11 Law

Dollar Hits One Year Low

The Yen

BOJ’s Karoda may act to stop Yen rise


Oil falls 3% on near record OPEC Production

U.S. Mint Sales Update

U.S. Mint reported selling 675,500 American Silver Eagles & 7,500 American Gold Eagles today.

MTD American Silver Eagles sold 675,500 & American Gold Eagles Sold 7,500

YTD American Silver Eagles Sold 19,590,000/American Gold Eagles sold 286,500

The U.S. Mint reported selling 3,000 American Gold Buffalo coins.
MTD 3,000 sold YTD 82,500 sold

Buy American Gold Eagle Coins

US Economic Data

Institute for Supply Management (ISM) 50.8 April 51.8 in March

Mfg PMI April 50.8, Exp. 50.8, Last 51.5

Markit says weakening in Q2


Reuters put its customary positive spin on the number: Q2 GDP REBOUND EXPECTED

May 3, 2016



Silver Confiscation Under Executive Order 6814

Fed Chatter

Fed’s Lockart says Get ready for rate hikes -at least two but but but Brexit may make Fed call it off

Australian Dollar

Australian Dollar Clobbered After Suprise Rate Cut


CNBC: Gold’s surge is making it feel a lot like late 2007

Bangladesh gold smuggler nipped in the butt

Sydney Morning Herald: Gold won’t stop at $US1300 an ounce

2 Kilos of Gold biscuits Seized at India’s Mubai airport

Maharashtra man with gold shirt makes it to Guinness World Records

India’s Gold Monetization Scheme

OH NO! Time to Sell Gartman says gold is in a true bull market—and on its way to $1,500

India has managed to “monetetize” 2.8 tons of gold so far from 105 depositors… out of 18,000 tons reported to be held in India by its citizens.


Anti -Bacterial silver underwear


India’s silver bar imports surge nearly 200% in March

May 4, 2016



Perth Mint April Silver Sales Top One Million For the Eight Month in a Row

perth mint silver kangaroo coins

Buy Perth Mint Silver Kangaroo coins from JM Bullion

Perth Mint sales silver 2015-2016 april smaulgld

Perth Mint silver sales of 1.16 million were the eight month in a row of one million a month sales.

U.S. Econonmic Data

ADP payrolls: 156K Exp. 195K

Labor costs up but productivity down
US Q1 Labor Costs 4.1%, Exp. 3.3%, Last 3.3%

US Nonfarm Productivity Q1 -1.0%, Exp. -1.3%, Last 2.2%

Productivity Reading Worst Since 1993


Silver Demand for Solar Industry to Set Record in 2016


Druckenmiller piles into gold

Gold in China – Not Just in PBOC

As we wrote last summer, the People’s Bank of China is not a proxy for “China’s” gold. There is gold elsewhere in the country most likely at state owned and controled banks and investment funds.

China eases gold trade rules in 6 cities to help boost gold imports


Indian Gold Imports Down 67% in April

Randgold mining production down 11%

Fed Chatter

Fed Presidents talking about possibility of rate hike in June boosts dollar

War on Cash

ECB discontinues 500 Euro bill

Italy rules its not a crime to steal if you are hungry

May 5, 2016


Silver Institute announces global silver mining production and demand up in 2015.

Silver Demand Reaches “Historic” Proportions



American Gold Eagle Sales Top 100,000 in April

April american Gold Eagle sales 1986 - 2016

April 2016 sales of one ounce American Gold Eagle coins were the sixth best in the coin’s thirty year history.

China laying the foundation for the next world gold standard?

Chinese Gold Demand Down in Q1 2016

Fed Chatter

St. Louis Fed President Bullard says Brexit not a “global stress event” contradicting Fed President Lockart who saysBrexit would be “a big deal”.

U.S. Economic Data

Initial Claims 274K, Exp. 260K

US Challenger Job report: April Layoff intentions 65,141 vs. March 48,207

Reuters As claims rise, planned layoffs also rise BUT but the underlying trend continued to point to a strengthening labor market.

War on Cash

ECB exescutive board member says there is no plot to eliminate cash

Fed Chatter

St. Louis Fed President -Labor market could be beyond full employment; says Brexit is not a global stress event


Oil Up on Canadian Wildfire in oil producing region

U.S. Mint Sales Update

U.S. Mint reported selling 346,000 American Silver Eagles & 2,500 American Gold Eagles today.

MTD American Silver Eagles sold 1,022,000 & American Gold Eagles Sold 10,000

YTD American Silver Eagles Sold 19,936,000/American Gold Eagles sold 289,000

The U.S. Mint reported selling 2,500 American Gold Buffalo coins.
MTD 5,500 sold YTD 85,000 sold

Buy American Gold Eagle Coins

May 6, 2016


April Perth Mint Gold Sales Up 79%

perth Mint gold sales 2015-2016 april smaulgld

Perth Mint gold sales remained elevated in April 2016.

U.S. Economic Data

NFP 160k vs 210 exp
Unemployment Rate 5.0%
Ave hourly earnings +0.3
Full-time jobs -253K
Labor force participation rate 62.8%
Average work Week + .01 to 34.5 hours
March NFP revised down from 215K to 208K
Feb NFP revised from 244K to 233K

Fed Chatter

NY Fed President William Dudley downplayed the lower than exptected Non Farm Payroll numbers saying two rate hikes in 2016 is still a reasonable expectation.

Too Big to Fail Banks

Italian prosecutor probes Deutsche Bank for manipulation of government bonds

May 7, 2016



America The Beautiful Sales in April

Top selling ATB coins smaulgld

After less than a month of sales, the Cumberland Gap Historical Park has sold 64,000.

America The Beautiful Silver Bullion Coins for sale

America The Beautiful Silver Bullion Coins – available from

U.S. Mint Sales Update

U.S. Mint reported selling 63,500 American Silver Eagles & 1,000 American Gold Eagles today.

MTD American Silver Eagles sold 1,085,500 & American Gold Eagles Sold 11,000

YTD American Silver Eagles Sold 20,000,000/American Gold Eagles sold 290,000

The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 6,500 sold YTD 86,000 sold

Buy American Gold Eagle Coins

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