In Case You Missed It – Week Ended December 19, 2015.
Stories from the week ended December 19, 2015.
The main news stories were about the race for the U.S. Presidency. The Republicans held a debate and Democrats Bernie Sanders and Hillary Clinton campaigns aruged over access to voter lists.
The U.S Congress passed a massive spending bill and politicians bickered over how to fight ISIS.
The main economic news of the week was the Federal Reserve’s announcement on Wednesday that they raised interest rates a quarter of a percentage point– the first interest rate hike in over ten years.
Gold and silver see-sawed during the week- rising before the Fed announcement and after the Fed announcement, then selling off the next day and rebounding on Friday.
Gold closed last week at $1074.20 and closed this week at $1066.10.
Silver closed last week at $13.89 and closed this week at $14.08.
Here are the stories we wrote, followed or commented on.
December 13, 2015
Pre Fed Announcement Chatter
Fed on course to do exactly as I said- talk all yr abt a hike,do one that causes them to cut rates to neg and do QE4 https://t.co/TbTNxyjZdV
— Smaulgld (@Smaulgld) December 14, 2015
Silver
From Smaulgld.com
Buy 90% Junk Silver From BGASC.com
December 14, 2015
Gold
Gold trading at discount in India
European Central Bank
ECB will meet Inflation target- Draghi
U.S. Mint Sales Update
The U.S. Mint Sold 853,000K American Silver Eagles today & NO American Gold Eagles (production halted)
YTD Silver Eagle Sales 46,639,000 (a record)
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
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
Obama on ISIS/ISIL
Obama updates on ISIS fight progress
December 15, 2015
Silver
New World Silver Council to be Launched
U.S. Economic Data
The U.S. economic data continues to be sub par.
Empire Fed -4.59, Ex. -7.0, Prior -10.74 (five months in a row contraction)
CPI 0.0% Exp 0.1% Prior 0.0
Core CPI 0.2% Exp 0.1% Prior 0.2
Baltic Dry Index sinks to all time low
December 16, 2015
US Economic Data
The last U.S. economic data prior to the Fed announcement wasn’t good:
US MFG PMI 51.3, Exp. 52.6, Last 52.8
Industrial Production tumbled -0.6%, Exp. +0.2%
Federal Reserve
The Federal Reserve announced a quarter point rate hike, in line with our prediction.
From Smaulgld.com
Smaulgld on Why the Fed Raised Rates
New York Times on Why the Fed Raised Rates
The Fed cited job growth as a key reason for raising rates:
From the NY Times:
“Among the Fed’s roles are maximizing employment and moderating inflation. Job growth has strengthened steadily since the recession, and the Fed’s policy-making committee said in a statement it expected that progress to continue.”
We predicted all year that not only would the Fed raise rates, but that they would point to “sturdy job growth” as the rationale.
U.S. Mint Sales Update
US Mint Sold 361,000 American Silver Eagles today & NO American Gold Eagles (production halted)
YTD Silver Eagle Sales 47,000,000 (a record)
December 17, 2015
US Economic Data
Philly Fed -5.9, Exp. 1, Last 1.9
Initial jobless claims 271,000 Exp 276K
U.S. third quarter current account deficit largest since 2008
Bank of England
UK Traders Don’t Expect BOE Rate Increase Until 2017 After Fed’s Move
U.K. Real Estate
UK Bank of England governor will take action against Buy to Let Bubble
Gold
Hopes Dashed in Hunt for Nazi Gold Train
Silver
Algae can carry a silver lining
December 18, 2015
U.S. Economic Data
US Services PMI 53.7, Exp. 55.9, Last 56.1.
Congress passes $1.1 trillion spending bill
Gold
From Smaulgld.com
Russia broke its own annual record by adding 186 tonnes of gold to its reserves in 2015. Russia added 700,000 ounces of gold to reserves in November.
Russia added another 700,000 ounces (21.77 tonnes) of gold to its reserves in November.
Shanghai Gold Exchange Week 50
Volume continues to be heavy at the Shanghai gold Exchange.
2015 Shanghai Gold Exchange vs. COMEX deliveries.
That’s all folks-U.S. Mint closes for year
2015 Sales:
Silver Eagles 47,000,000
Gold 1oz Eagles 626,500
Total Gold Eagles (ounces including fractional sized gold eagle coins) 801,500
24K Gold Buffalo 220,500
Buy 2015 American Silver Eagle Coins
Buy 2015 American Silver Eagle Coins
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