In Case You Missed It – Week Ended March 5, 2016.
Stories from the week ended March 5, 2016.
Donald Trump and Hillary Clinton won the bulk of the presidential primaries and caucuses. Ted Cruz and Bernie Sanders won a few and Marco Rubio won one. Mitt Romney gave a speech attacking Donald Trump and a former aid to Hillary Clinton was granted immunity relating to the FBI investigation into her use of a private server to conduct her affairs as Secretary of State.
In economic news, oil regained its footing amidst continued chatter about an oil production freeze.
Gold and silver
Gold closed last week at $1221.80 and closed this week at $1259.10
Silver closed last week at $14.67 and closed this week at $15.51
The gold and silver ratio ended the week at 83:1
Chart of the Week
Brexit fears boost gold
Brexit fears have driven the British Pound lower and gold higher.
Here are the stories we wrote, followed or commented on.
WE Missed it!
From the week ended February 27, 2015:
Fraud
Citbank Sued for $1.1 Billion in losses
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February 28, 2016
February 29, 2016
Silver and Gold
We reported on the record American Silver Eagle sales at the U.S. Mint in February and provided a full review of U.S. Mint gold and silver sales
Sales of American Silver Eagles Smash February Record
February 2016 sales of American Silver Eagles outpaced the annual sales of each year from 1986 to 2007.
Gold
UK Guardian Expresses Doubts Over Gold Rally
Gold Miners on Course for best month since 1998
India and Gold
India Imposes sales tax on top of record duty on gold…
Prompting Indian jewelers to go on strike!
Brexit
UK government warns Brexit could lead to decade of uncertainty
U.S. Economic Data
Pending Home Sales -2.5%, Exp. 0.5%
Pending home sales hit one year low but reports Reuters HOUSING STILL RECOVERING
Chicago PMI 47.6, Exp. 52.5
Dallas Fed: -31.8, Exp.-30.0, Last -34.6
US Mint Sales Update
U.S. Mint sold 782,000 American Silver Eagles & 9,000 American Gold Eagles today.
YTD American Silver Eagles Sold 10,736,500/American Gold Eagles sold 156,500.
MTD Silver Eagles sold 4,782,000 silver eagles, a February record
MTD Gold Eagles sold 67,500
The US Mint sold 2,000 American Gold Buffalo coins today- MTD 19,000 YTD 53,000
March 1, 2016
Silver and Gold
We reported on the Perth Mint Silver and Gold Sales in February
Perth Mint Silver Sales Top One Million Ounces For the Six Month In A Row
Perth Mint silver sales continue to hop along off the back of the new silver Australian Kangaroo coin.
Gold
COMEX Gold Volume Rises 50% to largest Highest amount in February on record
Central Banks on Longest Gold Buying Spree Since 1965
Gold Bar woth $50,000 found under bath tub
Fed Chatter
NY Fed President Dudley sees risks in the economy “on balance, I am somewhat less confident than I was before.”
US Economic Data
ISM Mfg: 49.5, Exp. 48.5, Last 48.2
Construction Spending 1.5%, Exp. 0.3%, Last 0.6%
Oil
United Arab Emirates urges production freeze for oil producers
Russian President Putin Says Oil Producing Nations Agree Not to Increase Production in 2016
Fed Chatter
Alan Greenspan issues negative outlook re the economy; comes out against negative interest rates
https://twitter.com/Smaulgld/status/704857315770503169
March 2, 2016
Silver and Gold
Smaulgld was on the Daily Coin discussing the gold and silver markets
Silver and Gold Sales at the U.S. Mint
Gold
Barrick Gold minter soars 74% in 2016
Societe General gives three reasons to sell gold
Gold and platinum discovered in south-east Irish streams
WSJ: Donald Trump – Good For #Gold? Some observers say yes
Nanotechnology determine what makes gold special
China
China’s bonds cut from stable to negative by Moody’s rating agency
De-Dollarization
China to Manage Russian Euro bond offering
US Economic Data
ADP 214K, Exp. 190K Manufacturing down 9K
Oil
Venezuela says upcoming oil meeting will discuss freeze and possible further actions
Fed Chatter
San Francisco Fed President said the US Economny will “power ahead” says that his view on the number of rate hikes this year has not changed
Gold and Silver
CNBC Trading Nation: Metals mystery The “mystery” is why gold is out performing silver now
March 3, 20165
Silver
Another Mexican primary silver miner reports record silver mining production in 2015.
Great Panther Reports Record 2015 silver mining production up 25% over 2014
Gold
India and Gold
India’s Love affair with gold tested
Indian governmnet to launch third tranche of gold monetization scheme
OH CANADA! Canada sells the rest of its small remaining gold reserves
Real Estate
House flipping hits ten year high “as confidence in the housing recovery spreads”
U.S. Economic Data
Initial Claims 278K, Exp. 270K
SM Non-Mfg 53.4, Exp. 53.1, Last 53.5
Markit Service PMI 49.7, Exp. 50.0, Last 49.9
Negative Interest Rates
JP Morgan’s Jamie Dimon says negative interest rates unlikely in the US
Fed Chatter
Dallas Federal Reserve President urges “Patience” on Further Rate Hikes
U.S. Mint sold 263,500 American Silver Eagles & no American Gold Eagles today.
YTD American Silver Eagles Sold 11,000,000/American Gold Eagles sold 156,500.
MTD Silver Eagles sold 263,500 silver eagles
MTD Gold Eagles sold 0
The US Mint sold no American Gold Buffalo coins today- MTD 0 YTD 53,000
Buy 90% Junk Silver From BGASC.com
March 4, 2016
Gold
Blackrock Temporarily Suspends issuance of new shares of gold ETF IAU
Canada Sells all its gold except 77 ounces (related to blackrock?)
India and Gold
India plans third round of gold monetization scheme
Silver and Gold
Endeavour Silver to buy True Gold Mining Company
Pan American Silver acquire shares in Kootenay Silver
Central Banks
Swiss National Bank Loses $23 Billion
US Economic Data
February Non Farm Payroll 240K vs Exp 180. wages decline. December and January NFP revised higher
US Trade deficit widens as exports fall to five and a half year low
U.S. Mint sold no American Silver Eagles & 1,000 American Gold Eagles today.
YTD American Silver Eagles Sold 11,000,000/American Gold Eagles sold 157,500.
MTD Silver Eagles sold 263,500
MTD Gold Eagles sold 1,000
The US Mint sold no American Gold Buffalo coins today- MTD 0 YTD 53,000
Buy 2016 American Silver Eagle Coins
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