In Case You Missed It – Week Ended November 14, 2015.
Stories from the week ended November 14, 2015.
The economic news of the week centered around U.S. data and Fed official speeches. Producer price inflation (negative) and retail sales (barely positive) were far below estimates. Yet, Fed officials are still promoting an interest rate hike in December, data dependent of course.
Last night news broke regarding a series of terrorist attacks in Paris, France. – timeline of events
Gold closed last week at $1089.40 and closed this week at $1083.90
Silver closed last week at $14.74 and closed this week at $14.28
Here are the stories we wrote, followed or commented on.
November 7, 2015
From Smaulgld.com
Gold
China adds fourteen tonnes of Gold to Reserves in October
Chinese Gold Reserves 2009-2015
After adding 19.4 tonnes of gold to its reserves in July and 16.15 tonnes in August, 15 tonnes in September, China added 14 tonnes of gold to its reserves in October and has added over 64 tons of gold from July- October 2015, bringing its total gold reserves to 1722 tonnes.
Gold and Silver
The Perth Mint reported strong October gold and silver sales.
Perth Mint Silver Sales October 2014 – October 2015
Perth Mint silver sales continued to hop along off the back of the new silver Australian Kangaroo coin.
The Perth Mint Silver Kangaroo.
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BGASC.com
Golden Eagle Coin
JM Bullion
Money Metals Exchange
November 8, 2015
Gold
Excavation begins at Nazi Gold Train Polish site
Indian jewellers see flat gold sales this Dhanteras
November 9, 2015
Silver
Bank of America/Merril Lynch says silver could fall to $12 -citing weak investment demand
Federal Reserve
St. Louis Fed: NO CHANCE inflation will be out of control next year
Boston Fed President says December appropriate for rate hike
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Chinese Yuan/Swiss Franc to exchange trade directly avoiding US Dollar conversion
Gold
Gold headed for three year losing streak?
NY Times covers the Texas Gold Bullion Depository story
A short history of Arizona’s gold mines
November 10, 2015
Federal Reserve
San Francisco Fed President Williams says there is a case for December rate hike
Gold
Marketwatch: Gold rises on technical bounce/sentiment at five year low
Hedge funds cut long gold positions
U.S. Economic Data
US Wholesale inventories rise most in three months
David Stockman – Wholesale inventories have never been higher relative to sales
From Smaulgld.com
Why the Job Recovery Was and Still is a Farce
November 11, 2015
Gold
U.S. Economy
Record Number of Young Women Living with Parents
Why the job recovery was and still is a farce
Real Estate
Black Friday/Cyber Monday Smaulgld Sales Preview
November 12, 2015
Gold and Silver
U.S. Mint Sales
US Mint sold 11K American Gold Eagles & no American Silver Eagles today
MTD Sales Gold 24K
Silver 2,096,000
YTD Silver Eagles sold 41,938,500
Federal Reserve
St. Louis Fed President James Bullard – supports rate hike, worries about permazero rates
Fed Chair Janet Yellen – no comment on timing of a rate hike
Chicago Fed President Charles Evans- cautious on December rate hike;may need to be way into 2016 to justify rate hike;but may not dissent if other members for to hike
New York Fed President Dudley –strong Oct labor report points to December rate hike but “dependant on incoming data”
Fed Vice Chair Stanley Fisher- Waiting to raise rates helped to minimize dollar strength harm
U.S. Economic Data
Initial Jobless Claims 276K, Exp. 270K
Gold
Gold demand at two year high on bargain hunting
Gold demand up 8% in the third quarter year over year
Gold price drop causes gold panic buying spree
Gold sentiment near five year low
Apple CEO: Next generation of kids won’t know what cash is
November 13, 2015
Gold
The Gold Platinum Ratio soared as gold held steady and platinum plummeted.
The gold platinum ratio topped 1.25:1 last week.
Add Platinum to Your Portfolio
U.S. Economic Data
Retail Sales 0.1%, Exp. 0.3%
Ex-Auto: 0.2%, Exp. 0.4%
Ex-Food/Energy: 0.1%, Exp. 0.5%
Consumer Confidence 93.1, Exp. 91.5
Producer Price Index -0.4% Exp. 0.1%
Core -0.3% Exp 0.2%
Federal Reserve
Cleveland Fed President Meister- Time for rate hike.
U.S. Mint Sales Update
From Smaulgld.com
Shanghai Gold Exchange Withdrawals
2015 Year To Date Withdrawals vs. Prior Years
Withdrawals on the Shanghai Gold Exchange were running 29.4% higher than last year and 19.8% higher than record year 2013 through week 45.
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