While the Shanghai Gold Exchange Was Closed All Week, Gold and Silver Took a Dive.
Gold and silver down 4.4% and 8.6%, respectively during the week.
Gold and silver sales at the U.S. and Perth Mints ratchet higher in September/first week of OctoberTop Gold And Silver Stories from the week ended October 8, 2016.
Top Gold And Silver Stories from the week ended October 8, 2016.
The top story of the week: The Clinton Trump Matchup
Wikileak issued a statement from Hillary about wanting to drone Assange, a Donald Trump explicit audio tape released and Wikileaks released partial transcripts of Hillary Clinton’s Goldman Sachs speeches.
Top economic stories of the week: Gold and silver take nose dives during the week long Chinese holiday.
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Gold and silver
Gold closed last week at $1315.80 and closed this week at $1257.60 ( -4.4%)
Silver closed last week at $19.15 closed this week at $17.53 (-8.6%)
The gold and silver ratio ended the week at 71.78: 1
Chart of the Week
You Tube Notes to this report
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Here are the stories we wrote, followed or commented on.
September 30, 2016
Larry Summers talking about “sustained governement purchases of stocks”
October 2, 2016
From Smaulgld.com
SEPTEMBER AMERICAN SILVER EAGLE SALES LOWEST SINCE 2007 -PODCAST
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Learn More About the American Silver Eagle
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
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Money Metals Exchange
October 3, 2016
From Smaulgld.com
AMERICAN GOLD EAGLE SALES ACCELERATE IN SEPTEMBER – PODCAST
GOLD PRICED IN WORLD CURRENCIES – THIRD QUARTER 2016
INDIAN GOLD IMPORTS FALL FOR EIGHT MONTH IN A ROW
AMERICAN GOLD BUFFALO SALES RISE 94% IN SEPTEMBER
De-Dollarization
The Great Russian Chinese Alliance is Here
Dollar as a percentage of reserves
‘US dollar flawed… Eventually we will all be using Chinese yuan’ – Jim Rogers
U.S. Economic Data
US Aug Construction Spending -0.7%, Exp. 0.3%,
July revised to -0.3% from 0.0%.
US ISM Mfg 51.5, Exp. 50.3, Last 49.4
Markit US Mfg PMI 51.5, Exp. 51.4
Atlanta Fed -as we said last week
Lowers third Quarter GDP estimate to 2.2% (was 3.8%)
Fed Chatter
Dudley advises caution in raising rates
MESTER: STILL THINK US ECONOMIC GROWTH WILL SEE REBOUND IN 2H case would “remain compelling” to back a rate hike at the next policy meeting, on Nov. 1-2, were the economic data to come in largely as she expects.
Gold
Indian Gold Imports Drop for ninth straight month
Guard Messes Up, Thieves Steal $1.5 Million in Gold
U.S. Mint Sales Update
U.S. Mint reported selling 185,000 American Silver Eagles and 4,500 American Gold Eagles today.
MTD American Silver Eagles sold 185,000 & American Gold Eagles sold 4,500
YTD American Silver Eagles Sold 30,760,500 /American Gold Eagles sold 569,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 1,000 sold
YTD 150,000 sold
The U.S. Mint Reported selling 0 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 29,500
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
October 4 2016
From Smaulgld.com
HERE COMES THE YELLEN CALL OPTION – PODCAST
Fed Chatter
Arm Chair Hawk
Richmond Fed President says rates need to go higher- would have voted for an increase in September
U.S. Mint Sales Update
U.S. Mint reported selling 345,000 American Silver Eagles and 4,000 American Gold Eagles today.
MTD American Silver Eagles sold 530,000 & American Gold Eagles sold 8,500
YTD American Silver Eagles Sold 31,105,500 /American Gold Eagles sold 573,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 2,000 sold
YTD 151,000 sold
The U.S. Mint Reported selling 1,000 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 30,500
October 5, 2016
From Smaulgld.com
PERTH MINT SILVER SALES REBOUND IN SEPTEMBER
US Economic Data
August Trade Deficit -$40.7Bn, Exp. -$39.3Bn, Last -$39.6Bn
US Trade deficit widen in August
ADP 154K, Exp. 165K ADP Manufacturing jobs: -6,000
ADP- 154,000 private sector jobs added in September
Non-mfg ISM 57.1, Exp. 53.0
Factory Orders Decline For 22nd Straight Month
Gold
China leads the world in gold consumption and production
Deutsche Bank says Gold is 25% overvalued cites “global growth!
But “Top forecaster” says gold to snap back cites “political risk”
Lower prices boost physical buying in England and India (and the US)
World Gold Council Market Update: Gold Price drop likely to spur demand
Silver
Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed
UBS is dismissed in U.S. silver lawsuit, other claims narrowed
Credit Suisse to pay $90 million fine and admit wrong doing
IMF blames Brexit/US Election for slow growth
ECB concerned about negative interest rates impact on lenders
Fed Chatter
Weak US Growth has created income gaps!
US Mint Sales Update
U.S. Mint reported selling 500,000 American Silver Eagles and 11,000 American Gold Eagles today.
MTD American Silver Eagles sold 1,030,000 & American Gold Eagles sold 19,500
YTD American Silver Eagles Sold 31,605,500 /American Gold Eagles sold 584,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 2,500 American Gold Buffalo coins.
MTD 4,500 sold
YTD 152,500 sold
The U.S. Mint Reported selling 0 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 30,500
October 6, 2016
Gold
Gold is the ultimate ‘anti-bubble’ amid falling bond yields, strategist says
Monetary supercycle’ demise could add $1,000s to gold price
Gold prices sinking. Bad sign for Donald Trump?
CNN Money: “Trump’s momentum has started to fade”
CNN’s bias extends even to their financial reporting
China’s Gold and Silver Markets Closed This Week
#Gold Down $75 (-5.6%)
#Silver Down $2.37 (-12.1%)
US Economic Data
Initial Claims 249K, Exp. 256K, Last 255K
US CHALLENGER: SEPT LAYOFF INTENTIONS 44,324 V AUG 32,188 -Up 38%
US Mint Sales Update
U.S. Mint reported selling 325,000 American Silver Eagles and 3,000 American Gold Eagles today.
MTD American Silver Eagles sold 1,355,000 & American Gold Eagles sold 22,500
YTD American Silver Eagles Sold 31,930,500 /American Gold Eagles sold 587,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 0 American Gold Buffalo coins.
MTD 4,500 sold
YTD 152,500 sold
The U.S. Mint Reported selling 0 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 30,500
October 7, 2016
British Pound pounded in flash crash
US Economic Data
Non Farm Payroll
September Payrolls 156K,, Exp. 175K
Unemployment rate rises to 5.0%
July revised down from +275K to +252K
August revised up from +151K to +167K
Reuters: the labor market may have more room to run
Healthcare +33K
Waiters and Bartenders: +30K
Retail trade: +22K
US AUG WHOLESALE INV -0.2%; JUL INV REV TO -0.1% (PRV UNCH)
US AUG WHOLESALE SALES +0.7%,DURABLES -0.5%, NONDURABLES +2.0%
Fed Chatter
Fed’s Mester says September jobs report was ‘solid’
Fed’s Fischer says jobs number close to “Goldilocks ideal”
Justifiying their crappy engineered economy the way a parent justifies their kid’s “D”
Buying equities will be because they believe the market is undervalued!
Gold
Goldman Sachs sees buying opportunity if gold falls below $1250
Deutsche Bank wins “RMB House of the Year” award
US Mint Sales Update
U.S. Mint reported selling 50,000 American Silver Eagles and 19,500 American Gold Eagles today.
MTD American Silver Eagles sold 1,405,000 & American Gold Eagles sold 42,000
YTD American Silver Eagles Sold 31,980,500 /American Gold Eagles sold 607,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 3,500 American Gold Buffalo coins.
MTD 8,000 sold
YTD 156,000 sold
The U.S. Mint Reported selling 0 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 30,500
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