Central Bank Policies and Intervention Drives Stocks to All Time Highs

Dow, S & P, and Nasdaq hit all time highs, while gold and silver mining shares also soar.

In Case You Missed It.

Top Gold And Silver Stories from the week ended August 6, 2016.

The top stories of the week

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The top economic story of the week was the market reaction to the “solid” non farm payroll report on Friday.

Gold and silver

Gold closed last week at $1350.40 and closed this week at $1335.40(-1.1%)

Silver closed last week at $20.28 closed this week at $19.66 (-3.1 %)

The gold and silver ratio ended the week at 67.92 to 1

Charts of the Week

Swiss National Bank Gold and Silver Mining Holdings

Documents filed by the Swiss National Bank with the SEC reveal a $1B gold and silver mining portfolio.

Dow Jones Keeps Pace with Gold since hitting its 2016 lows

Despite “global economic uncertainty” and declining earnings, since February the Dow Jones has kept pace with gold in 2016.

Higher gold prices have westerners chasing gold and Asians curbing purchases

Dollars Continue To Flow into Gold ETFs

SHANGHAI GOLD EXCHANGE WITHDRAWALS SLUMP NEARLY 60% IN JULY – 25% Decline In SGE withdrawals YTD through July in 2016

Gold withdrawals on the Shanghai Gold Exchange in July 2016 were the lowest in the month of July since 2012.

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

July 30, 2016

Gold

‘Sell everything,’ DoubleLine’s Gundlach says “gold/gold miners are the best alternative to Treasuries“

July 31, 2016

From Smaulgld

EXCLUSIVE: ESTONIAN SILVER DEALER SHUT DOWN BY SWEDISH TAX AUTHORITIES

Gold

Bloomberg: Trump Presidency means Higher gold prices

Fed Chatter

Fed’s Dudley urges caution on rate hikes, cites risks to U.S.

but says Fed may raise rates faster than market expects

August 1, 2016

From Smaulgld.com

AMERICAN SILVER EAGLE SALES PLUMMET 75% IN JULY AS SILVER PRICE SOARS

July 2016 sales of 1,370,000 ASE’s were more typical of pre-financial crisis monthly sales and were down 75% from July 2015 sales of 5,529,000.

July sales of American Silver Eagles were 1.37 million.

Gold

Gold imports to the US https://twitter.com/Smaulgld/status/760229319943806976

India’s gold imports drop for sixth straight month in July

Peru Cracks Down on Illegal Gold Mining

Sell everything

Gundlach reiterated that gold and gold miners are the best alternative to Treasuries and predicted gold prices will reach $1,400. U.S. gold on Friday settled up at $1,349 per ounce.

Tisch doubles gold bet

Silver

This pen uses a silver-based ink to draw electronic circuits

US Economic Data

Construction Spending -0.6%, Exp. 0.5%, May revised to -0.1%

ISM Manufacturing 52.6, Exp. 53.0, Last 53.2

From the St. Louis Federal Reserve re Chinese Yuan

“…if it also reduces official purchases of U.S. assets, the yield the United States must pay on those assets may increase slightly.”

August 2, 2016

From Smaulgld.com

AMERICAN GOLD EAGLE SALES FALL 79% IN JULY AS GOLD PRICE RISES

Gold Eagle sales fell sharply in July

Gold

CNBC: Case for gold looks bright amid Brexit and Bank issues

Fresnillo optimistic on gold and silver prices
Rare Gold Double Eagles Worth $100M have to be returned to U.S.

Inside the Bank of England Vaults

Gold And Silver Mining Funds Hammer Ahead As Gold Hits 3-Week High

Indian bar imports down 62% in July

Discounts to the international spot price of gold were reported at record levels of $65-75/oz in July, with cash discounts heard as high as $100/oz, as prices soared to 28-month highs in the days and weeks after the Brexit vote on June 23.

Must make for a brisk smuggling trade

https://twitter.com/Smaulgld/status/760620408806801412

Fed Chatter

Fed’s Kaplan is “closely monitoring” slowing growth

US Economic Data

Personal Income 0.2%, Exp. 0.3%
Personal Spending 0.4%, Exp. 0.3%

Reuters Propaganda :US consumer spending increases solidly in June suggesting consumption will remain strong after surging in the second quarter. Then changed headline to “U.S. consumer spending exits second quarter with strong momentum”
100% propaganda “economists are optimistic that spending will remain SOLID”
ALL economists are optimistic re SOLID spending?

Bitcoin

Bitcoin tumbles 30% after exchange hack

Bitcoin exchanges have only one layer of security,where as digitized #gold has two-you can’t hack a vault.

August 3, 2016

From Smaulgld.com

SWISS GOLD EXPORTS TO THE US SKYROCKET- WW III COMING? COMEX COLLAPSE IMMINENT?

Gold

Scotish Gold Mining Company produces first batch of gold

US government reclaims rare gold eagles

World Gold Council- Failed Monetary Policies Boost Gold

WSJ: Gold not a safe haven according to Harvard Researchers price of gold fixed at $35 from 1933-1971

“harvard researchers” know more than investors!

Investing in gold: Big players put money into the precious metal Bill Gross is putting money into gold, and he’s not the only one

Indian Gold Demand Down on Higher Prices (with video)

CNN: Gold May Soar if Trump Wins

Bitcoin

Bitcoin hack- Bloomberg’s take

US Economic Data

ADP 179K, Exp. 170K

Goldman Sachs
Goldman to settle Federal Reserve charges over leak of central-bank secrets WHAT DIFFERNCE DOES IT MAKE!!!

August 4, 2016

From Smaulgld.com

PERTH MINT SILVER SALES FALL 43% IN JULY

The Perth Mint sold over 693,447 ounces of silver in July 2016, down 43% from June.

PERTH MINT JULY GOLD SALES PLUMMET 67%

Perth Mint gold sales in July were the lowest in more than five years.

Gold

Bank of India to Study Why Indians Spend So Much on Gold

Bank of England

Bank of England Cuts Rates, Boosts Stimulus

U.S Economic Data

Factory Orders -1.5%, Exp. -1.9%, Last -1.0%

REUTERS but signs of stabilization in business spending offered some hope for struggling industries.

Initial Claims 269K, Exp. 265K

Reuters “The number of Americans filing for unemployment benefits unexpectedly rose last week, but the trend continued to point to a healthy labor market.

U.S. Mint Sales Update

U.S. Mint reported selling 75,000 American Silver Eagles 5,000 American Gold Eagles today.

MTD American Silver Eagles sold 75,000 & American Gold Eagles sold 5,000

YTD American Silver Eagles Sold 27,695,500 /American Gold Eagles sold 441,000

The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 19,000 American Platinum Eagle coins sold.

The U.S. Mint reported selling 0 American Gold Buffalo coins.
YTD 122,500 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

YTD Sales of Harpers Ferry coins – 34,200

You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:

BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange

August 5, 2016

Gold

Higher prices curb demand for gold, but festive season may spur fresh buying

Trump voters and gold buyers may have something in common

US Economic Data

July Payrolls: 255K, Exp. 180K

CNBC Job creation continued at a solid pace in July

https://twitter.com/Smaulgld/status/761541452082077696
https://twitter.com/Smaulgld/status/761541588732547072

Trade deficit at 10 month high

Stocks soar to all time highs

JUST IN: S&P 500 hits fresh all-time high » https://t.co/O9oytw6lPJ pic.twitter.com/AMBDMvDh1l

— CNBC Now (@CNBCnow) August 5, 2016

Swiss National Bank updates its equity holdings

2,636 Positions as of 06/30/2016

You Tube Notes to this report

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