In Case You Missed It – Week Ended February 6, 2016

In Case You Missed It – Week Ended February 6, 2016.

Stories from the week ended February 6, 2016.

Buy Gold and Silver

The main stories of the week involved continued tensions in the Middles East, terrorist attacks and the Iowa Republican and Democratic Presidential caucuses.

The big economic story of the week was the fall of the dollar and the economic data and statements by Fed officials that led to a fall in the US dollar index from about 99.50 to 96.30 on Thursday before settling at 96.96 on Friday.

Gold and silver

Gold closed last week at $1117.80 and closed this week at $1173.50
Silver closed last week at $14.23 and closed this week at $15.01

The gold and silver ratio ended the week at 77.81:1

The Lowest Cost. Period.

Chart of the Week

Argentine peso vs gold february 2016

Argentines holding gold have been spared the economic impact of the devaluation of the Argentine peso

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

WE Missed it!

From the week ended January 30, 2015:

January 29, 2016

Gold and Silver

Oklahoma Bill would Establish Gold and Depository to Faciliate Transactions


Platinum expected to be in deficit nearly 8 tonnes until 2021

Gold and platinum rose sharply during the week. Platinum peeked above $900 an ounce. The gold platinum ratio ended the week at 1.29 to 1.

For platinum supply and demand dynamics click here.

January 30, 2016


Turkey says Russia violated its airspace – again!

January 31 2016


Gold and Silver

We reported on the US Mint gold and silver sales in Janaury 2016.

january sales of american silver eagles 1987-2016

January 2016 sales of American Silver Eagles were nearly six million.


Scientists find new cost effective/environmentally friendly way to remove gold from electronics waste

The Cashless Society

Bloomberg: Bring on The Cashless Society

February 1, 20165


Gold and Silver

Smaulgld reported on the strong gold and silver sales at the Perth Mint in January 2016.

perth mint sales jan 2015 - 2016

Perth Mint January 2016 silver sales were up 156% over January 2015.


Investor Faith Broken in London Silver Fix?

Silver Mining History in Arizona


Suicide Bomb Kills More than Twenty in Afghanistan

JP Morgan

JP Morgan blames Fed for Bearish Tone

U.S. Economic Data

ISM MFG 48.2, Exp. 48.4

US Markit Mfg PMI 52.4, Exp. 52.6, Last 52.7

US Manufaucturing Slumps For Fourth Month in a Row

Consumer spending flat, savings jump

December Construction Spending 0.1%, Exp. 0.6%.

Personal Income: 0.3% Exp. 0.2%
Personal Spending: 0.0% Exp. 0.1%

Savings rate rises from 5.3% to 5.5%


Will “peak gold” help the gold price

Fed Chatter

Fed Vice Chairman Stanley Fischer hints at no more rate hikes this year

Text of Fisher’s speech

U.S. Mint Sales

US Mint sold 727,000 American Silver Eagles & 1,500 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 6,687,000/American Gold Eagles sold 90,500

Buy 90% Junk Silver From

February 2, 2016


India’s Gold Rule Designed to Curb Imports, Backfires

CNN Publishes a Positive Gold Story

CNN Money: Gold is 2016’s Most Beloved Asset

Bloomberg comments positively on gold

Bloomberg: Gold Resillient as Commodities and Stock Slump


BP reports worst annual loss in twenty years

Presidential Primaries

Iowa Caucus- Cruz and Clinton Win, Sanders urges recount

Fiat Currencies

Swiss National Bank President says Swiss Franc Over Values- Ready to Act

Negative Interest Rates

Fed wants to test how banks would handle negative interest rates

U.S. Mint Sales Update:

U.S. Mint sold 288,000 American Silver Eagles & 6,500 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 6,975,000/American Gold Eagles sold 96,000

Buy 2016 American Silver Eagle Coins

February 3, 2016


Smaulgld was interviewed by the Daily Coin

U.S. Economic Data

ADP says private employers added 205,000 jobs in January, Reuters calls the report “Solid”

ISM non-mfg big miss: 53.5, Exp. 55.1, Last 55.8


Russia accepting Yuan for oil

Fed Chatter

Fed President Dudley expresses concern over “tightening financial conditions” and rising dollar’s impact on the US economy.


Business Insider says buy gold ahead of the 2016 election

China Seen Buying More Gold

Pizza Hut to Create 24K gold topped pizza for the Super Bowl

U.S. Mint Sales Update

U.S. Mint sold 25,000 American Silver Eagles & 500 American Gold Eagles today.
YTD American Silver Eagles Sold 7,000,000/American Gold Eagles sold 96,500

February 4, 2016

US Economic Data

Initial Jobless Claims 285K, Exp. 278K, Last 277K but but but pleads marketwatch – claims still very low

Challenger Gray Job cuts surge 218% in January


CNBC? Makes the Case for Gold

Teenage Girl to keep Gold Bar found in German Lake

Bank of England

Bank of England’s Governor threatens rate hike sooner than later

Fed Chatter

Dallas Fed President urges patience on rate hikes


Dollar Falls again on doubt that Fed will raise rates


Thompson Reuters CME to introduce new silver benchmark

Got insurance? How Good is your insurance company?


Obama proposes $10 a barrel of oil tax to fund “clean energy”

February 5, 2016


South African Mine Collapses

Powerful earthquake strikes Tawain

via Reuters Anti Gold Propaganda

Gold rally scares away physical buyers in China, India “Most physical gold buyers in Asia stayed off the market this week”

U.S. Economic Data

Non Farm Payroll: 151k Exp 190k
Unemployment Rate: 4.9%
Average hourly Earnings increased 0.5% Exp. 0.3%, Last 0.0%
November and December were revised lower

Jobs Created
Retail 58k
Drinking establishments 48k
Health care 37k

Labor Force Participation 62.7%

Market Reaction to Jobs Data

More Reuters Propaganda “Traders took the report as a sign of labor market strength

News stories referred to the poor jobs report as “mixed”

Nasdaq fell 3.5% and the Dow was down over 200 points.

Stock Market Mixed

Atlanta Fed ups Q1 GDP forcast from 1.2% to 2.2%

US Mint Sales Update

U.S. Mint sold no American Silver Eagles & 2000American Gold Eagles today.
YTD American Silver Eagles Sold 7,000,000/American Gold Eagles sold 98,500

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