Fed Raises Interest Rates on Trump as Economy Slows

Fed Raises Rates for Second Time Since Donald Trump Elected President.

People’s Bank of China ALSO Raises Rates- no “Currency Wars”.

Gold and Silver Rebound After Rate Hike.

The Lowest Cost. Period.

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Top stories: Rachel Maddow releases Donald Trump’s tax returns. Trump’s second travel ban struck down again by 9th Circuit Judge in Hawaii, citing Anderson Cooper interview and no legal basis.

Top economic story of the week: Fed raises rates as does People’ Bank of China, a seemingly calibrated move hinted at during the G-20 summit a year ago.

Janet Yellen can’t explain why the Fed is raising rates eight years in to a “recovery” when the Atlanta Fed is showing scant 0.9% GDP growth in their first quarter 2017 projections. Ms. Yellen calls near real time data “noisy” but insists on her listeners believe that her own year and two year projects are “solid”.

Watch Yellen Ramble On:

Gold and silver.

Gold closed last week at $1204.50 an ounce and closed this week at $1228.80 + 2.0%

Silver closed last week at $17.01 an ounce and closed this week at $17.37 +2.1%

The gold and silver ratio ended the week at 70.74:1

gold silver ratio march 17 2017

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Tweet of the Week

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

March 12, 2017

Gold

Texas lawmaker: It’s time to protect gold depository, reduce precious-metal taxes

March 13, 2017

From Smaulgld.com

INDIAN GOLD DEMAND & IMPORTS BOUNCING BACK

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March 14, 2017

From Smaulgld.com

PERTH MINT GOLD SALES FEBRUARY DROP 32%

US Economic Data

PPI Feb. 0.3%, Exp. 0.1%, up 2.2% Y/Y, Exp. 1.9%

March 15, 2017

From Smaulgld.com

SHANGHAI GOLD EXCHANGE FEBRUARY WITHDRAWALS HIGHEST ON RECORD

Gold

Fed Raises Rates

China, raises short-term rates

BOJ Leaves Policy Unchanged

US Economic Data

Business Inventories: 0.3%, Exp. 0.3%
Empire Fed 16.4, Exp. 15
CPI Feb 2.7% Y/Y, Exp. 2.7%
Retail Sales 0.1%, Exp. 0.1%
MBA Mortgage Applications 3.1% vs 3.3% Last
Purchases 2.4%, vs 1.7% last
Refis 4.1%, vs 5.2% last

Atlanta GDP Now 1st quarter estimate reduced to 0.9%

U.S. Mint Sales Update

U.S. Mint reported selling 220,000 American Silver Eagles and 2,500 American Gold Eagles today.

MTD American Silver Eagles sold 500,000 & American Gold Eagles sold 6,000
YTD American Silver Eagles Sold 6,842,500/American Gold Eagles sold 113,500

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The U.S. Mint sold 0 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD ATB coins 19,500.

The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000

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The U.S. Mint reported selling 0American Gold Buffalo coins.

MTD 0 sold

YTD 49,000 sold

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

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March 16, 2017

Smaulgld.com

Bank of England holds BankRate at 0.25%, maintains government bond purchases at £435bn and corporate bond purchases at £10bn.

SNB keeps Record-Low Rates

Gold

Piano gold hoard is ‘life-changing’ sovereign stockpile

Police recover 195 ancient gold coins from Tonk in 3 month

US Economic Data

Philly Fed 32.8, Last 43.3
Housing Starts 1288K, Exp. 1264K
Housing Permits 1213K, Exp. 1268K

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March 17, 2017

US Economic Data

Industrial Production Feb. 0.0%, Exp. 0.2%

Consumer sentiment hits 97.6 in March, vs. 97 estimate

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March 18, 2017

From Smaulgld.com

PERTH MINT SILVER SALES SLUMP IN FEBRUARY

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