In Case You Missed It – Week Ended February 20, 2016

In Case You Missed It – Week Ended February 20, 2016.

Stories from the week ended February 20 2016.

The big economic stories of the week revolved around the extremely volatile gold, silver oil and currency markets.

Gold and silver

Gold closed last week at $1237.90 and closed this week at $1226.00
Silver closed last week at $15.75 and closed this week at $15.31

The gold and silver ratio ended the week at 78.6:1

The gold silver ratio has been near 80:1 during February 2016.

The Lowest Cost. Period.

Chart of the Week

gold vs brazilian real feb 19 2016

Gold has been soaring vs. the Brazilian Real for months.

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

WE Missed it!

From the week ended February 13, 2015:

February 12, 2016



Too much Thompson Reuters in the silver market?

In “Silver Institute Trends for 2016” we analyze the latest data from the Silver Institute

Thompson Reuters helps compile silver industry data with the Silver Institute, reports on silver news and works with the CME Group, operator of the COMEX silver futures exchange to establish the price of silver.

silver demand by sector 2006 and 2015

This chart is amended to assume that if silver coin demand grew by 21% in 2015, silver round and bar demand also grew by the same amount vs. the Silver Institute’s projection that silver round and bar demand declined by 21% in 2015.

Reuters Spin on Gold As gold price soars, traditional India, China buyers show little love

But this story contradicts Reuters: China on massive gold buying spree

Last week we noted that reporters constantly include in every gold story a cut against it by saying gold doesnt pay interest.

Seems that standard language has been removed from gold reporting with the awareness that negative interest rates make gold look better.

“With government bonds in many cases boasting a negative yield after inflation, yieldless gold doesn’t seem like such a bad option.”

Gold bullion is the place to be


February 13, 2016

Canada Sells its gold

February 14, 2016


China boosts Yuan


Japan’s economy shrinks again in the fourth quarter

Japanese stock market soars 7.1%


Iranian Stock Market bucks the downward trend rises 18%


Pakistan default risk rises

February 15, 2016

War on Cash

ECB votes to ditch 500 Euro note

Draghi Denies War on Cash

Oil continues its three day surge on more speculation of OPEC production cuts


FT Recognizes Negative Yields are Good For Gold

Gold bugs prosper in negative yielding world

Reuters Talking Down Gold Again: China dampens gold’s rally as peak demand period wraps up

Gold Falls $30

Harmony Gold to increase production 45%

Chinese investors renew ‘gold rush’ as market prices rocket up

European Stocks

Euro Stocks Rally


Ruble Rises with the price of oil

Currency Manipulation

Japan spends billions of dollars to support the Yen

Mario Draghi spoke at the Euro Parliament
Dovish Draghi -Ready to Act; ease further

February 16, 2016


We published the third installment of our “Welcome To the Cashless Society” series, which covered the century long events that have led to the near cashless society.


Saudi Arabia and Russia Agree to Freeze Oil Production- At Current Levels

Oil price rose then fell “as hopes over Saudi, Russia deal faded”

War on Cash

Summers says kill the $100 bill

“Most economists” say Fed will hike twice in 2016, undeterred by external risks: Reuters poll


Goldman Sach says sell gold

…Stock declines not justified

Classic CNBCnow segement- Two gold bashing guests and one gold bashing host! h/t @Blanchardgold
Chief CNBC bullion-basher Sully at it again: “Gold is done

Australian Gold Miners doing well

Bloomberg says Indian Gold Demand is down


Treasure Hunter Gets His Shipwreck Silver Coins Back from the US Government

Fed Chatter

Philadelphia Fed President says stabilization of oil prices and the dollar and strength in labor market mean another rate hike-timing not determined

“Most economists” say Fed will hike twice in 2016, undeterred by external risks: Reuters poll

US Mint Sales Update

U.S. Mint sold 803,000 American Silver Eagles & 16,000 American Gold Eagles today.
YTD American Silver Eagles Sold 8,803,000/American Gold Eagles sold 140,000.

The US Mint also sold 2,500 American Gold Buffalo coins today- MTD 8,000 YTD 42,000

Buy Gold Online


Chemistry World: Burn to boost silver salvage from solar cells

February 17, 20165

U.S. Economic Data

Housing Starts 1.099MM, Exp. 1.173MM, Last 1.143MM

PPI 0.1% Exp -0.2% Prior -0.2
Core 0.4% Exp 0.0% Prior -0.1%

Industrial Production 0.9%, Exp.0.4%,
Manufacturing 0.5%, Exp. 0.3%
Utilities +5.4%, largest since 2010


On God of Wealth’s day, Vietnamese jostle to buy gold (photos of Vietnamese lining up to buy gold)


WSJ: Is Now the Time to Buy Gold in India?

Reuters: Asia shuns gold on higher prices

A Longtime Gold Bear Capitulates as Global Economy Turns Gloomy

ABN sees gold rising to $1,300/oz by year-end, up from $900


Oil up 7 percent, extending rebound, as Iran welcomes output freeze

Buy 90% Junk Silver From


FOMC minutes show Fed members saw downside risks


Brazil could waive U.S. dollar to bolster Iran trade – minister

Puerto Rico Contemplates Default


Morgan Stanley to pay $3.2 Billion to settle government mortgage probes

U.S. Mint sold 123,500 American Silver Eagles & no American Gold Eagles today.
YTD American Silver Eagles Sold 8,926,500/American Gold Eagles sold 140,000.

The US Mint also sold 75,000 Shawnee National Forest five ounce America The Beautiful silver coins – the highest sales of America the Beautiful coins since 2011’s Olympic National Park 104,900

The US Mint also sold 2,500 American Gold Buffalo coins today- MTD 8,000 YTD 42,000

February 18, 2016


Global Silver Mining Production Increased in 2015

Global silver mine production chart 2014- 2015

Global Silver Mining Production increased 1.8% in 2015.

US Economic Data

Initial Claims 262K, Exp. 275K

US jobless claims fall as labor market tightens Reuters cites “labor market strength” but claims estimated in some states.

Buy 2016 American Silver Eagle Coins

JM Bullion

Fed Chatter

Fed bullard unwise to continue a normalization strategy

St. Louis Fed President Bullard says unwise to raise rates now


India and Gold

IIM-A study calls for gold spot exchange “to improve price discovery”
Gold Sales Surge in Germany

CNBC Daily Gold Bash The Trade: Here’s what could be next for gold “as equities recover”

Jim Cramer promotes gold as insurance and negative interest rates

Pan American Silver Reports 4Q Loss But Record Silver, Gold Output For 2015

Walmart’s Q4 income down 7.9% as sales fall, lowers outlook Because of SOLID LABOR MARKET, ROCKIN US CONSUMER

U.S. Mint sold noAmerican Silver Eagles & 1,500 American Gold Eagles today.
YTD American Silver Eagles Sold 8,926,500/American Gold Eagles sold 141,500.

The US Mint also sold 4,500 American Gold Buffalo coins today- MTD 12,500 YTD 46,500

February 19, 2016

Market Manipulation

China to inject $153 billion into money markets

CPI came in flat against expectations of -0.1% and -0.1% in December.
Core CPI +0.3% vs expectations of 0.2% and 0.2% in December.
The Core CPI reading was the highest in four and a half years.

Rents and health care costs rise so fed can raise rates

Fed Chatter

Cleveland Fed President Meister says U.S. Economy on track


Pure gold violin goes on display

More main stream media reports noting that while gold doesn’t pay interest, banks and bonds often have negative rates

US News: Slow Economic Growth? Look to Gold, Treasuries as Haven Investments

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