In Case You Missed It – Week Ended January 23, 2016.
Stories from the week ended January 23, 2016.
The main stories focused on terrorist attacks and the Republican and Democratic presidential primaries. The National Review enlisted conservatives to dump Donald Trump and left wingers started a “stop hate” campaign to stop Trump.
On the Democratic side, Hillary Clinton spoke out against the too big to fail/jail crowd during the Democratic debate while the audience snickered.
The markets were dominated by swooning global markets saved at the end of the week by some comments from European Central Bank President Mario Draghi that more stimulus was on the way. The falling price of oil also featured heavily in the news.
Gold and silver
Gold closed last week at $1088.80 and closed this week at $1098.00
Silver closed last week at $13.91 and closed this week at $14.00
The gold and silver ratio ended the week at 78.43:1
Here are the stories we wrote, followed or commented on.
WE Missed it!
From the week ended January 15, 2015:
January 15, 2015
Walmart closing 269 stores . Here is a list.
U.S. Mint Sales Update
The U.S. Mint sold 500,000 American Silver Eagles & 2,000 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 4,000,000/American Gold Eagles sold 52,500
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January 17, 2016
De-Dollarization
As the Chinese led Asian Infrastructure Investment Bank (AIIB) opens:
AIIB president committed to “highest possible standard”
Democratic Debate Highlight
Hillary Clinton, without a trace of self conscious, proclaims at the Democratic Presidential debate and tweets out “There should be no bank too big to fail and no individual too big to jail.”
"There should be no bank too big to fail and no individual too big to jail." —Hillary #DemDebate
— Hillary Clinton (@HillaryClinton) January 18, 2016
January 18, 2016
Gold
India’s Gold Monetization Scheme was back in the news as the Indian government continues to push it.
Indian Temple to invest in gold monetization scheme
1/10 Oz Canadian Maple Leaf Gold Coins
Indian Gold imports up 179% in December
Gold Miners say their output has peaked
Kitco, always happy to tout a negative gold forcast, ran this story:
Paribas forcasts sub $1000 gold
Silver
As we observed last week silver miners continue to boost production despite falling prices:
Silver Miners Increase silver production despite decline in silver price
Apmex says interest in the 2016 American Silver Eagle is at an all time high
Gold and Silver
India raises tarrif on gold and silver
Oil
The potential for massive shale oil company defaults was covered extensively during the week.
Big Banks Wait for Oil Loans To Implode
Suncor to Buy Canadian Oil Sands
Fewer dollars needed to buy oil- so higher rates neede to attract buyers
Russia
But Russians holding gold are fine:
Putin to discuss Syrian with Quatar
China
Chinese shipyards see orders shrink in half
Socialism
French President admits economy French economy is a disaster, declares emergency but doesn’t blame socialism or high taxes.
French President declares economic state of emergency – Just like Venezuela
January 19, 20165
Oil
A barrel of oil now costs less than the barrel
Petro Yuan?
Saudi Arabia and China in deal
U.S. Mint Sales Update
U.S. Mint sold 950,000 American Silver Eagles & 16,500 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 4,950,000/American Gold Eagles sold 69,000.
Buy 2016 American Silver Eagle Coins
Silver
Silver miners report record production results:
Great Panther
Great Panther -30% increase in production in 2015
Pan American Silver
Pan American Silver sets new annual records for gold and silver production
First Majestic
First Majestic reports record output in 2015
Smaulgld and Jason Burack discussed record gold and silver mining production and the potential impact on the markets in a Wall Street For Main Street podcast:
China
AIIB to Finance 5-10 projects in Russia worth $1 billion in 2016
January 20, 2016
Gold
From Smaulgld.com
U.S. Economy
The Atlanta Fed Projects .07% GDP growth in fourth quarter of 2015
Heard on CNBC
Of course, the contagion is contained- to the world equity markets!
Terrorism
Pakistan Terror Attack at University Kills 20 injures 50
Gold
Gold Miner Newmarket gold reports record production
Newmarket Gold Achieves Record Gold Production of 222,671 oz,
Islamic finance set sights on standard for gold-based products
Citibank says gold safe haven back in vogue
Trump makes case for gold and no one notices
World faces wave of epic debt defaults, fears central bank veteran
European Banks
Deutsche Bank says to post $7.3B net loss BECAUSE IT’S NOT 2008
US Economic Data
CPI -0.1% Exp 0.0 Prior 0.0%
Core CPI 0.1% Exp 0.2% Prior 0.2%
Housing Starts 1149K Exp 1197K Prior 1179K
Permits 1232K Exp 1200 Prior 1282
Silver and Gold
Fresnillo gold and silver out put to rise in 2016
Treasure Hunting for gold and silver
Silver
Silver Wheaton Audit News Crashes Stock Price
January 21, 2016
Heard On CNBC
U.S. Economic Data
Philadelphia Fed -3.5, Exp. -5.9, Prior revised to -10.2 from -5.9
Initial Jobless Claims 293K Exp 280K Prior 283
European Central Bank
ECB leaves rates unchanged, hints at more easing
Global stock markets rise on Mario Draghi’s comments
Gold
India
Reserve Bank of India will allow sale of gold coins
Gold and Silver
Gold rises on jewelry demand, silver slips
Gold Miner announces higher output
Acacia Mining forecasts higher gold output
Australian Gold Miner announces increase in production
Australian Gold Miner Silver Lake Resources increases production
January 22, 2016
Gold
Indian Gold Monetization Scheme
Banks to get commission for unlocking household gold – RBI
U.S. Mint Sales Update
US Mint sold 50,000 American Silver Eagles & 8,000 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 5,000,000/American Gold Eagles sold 77,000
Buy 90% Junk Silver From BGASC.com
U.S. Economic Data
Chicago Fed
-0.22 Prior -0.36.
December existing home sales 5.46M Exp 5.12 Prior 4.76M (new mortgage rules reduced November sales, closings moved to December)
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