In Case You Missed It – Week Ended November 21, 2015

In Case You Missed It – Week Ended November 21, 2015.

Stories from the week ended November 21, 2015.

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The news cycle last week focused mainly on the aftermath of the Paris terror attacks, with follow on anti terrorist raids in Paris and a vigorous debate in the U.S. and Europe as to the efficacy of taking on more refugees.

The economic news of the week centered around U.S. data and Fed official pronouncements. Fed officials are still promoting the concept of an interest rate hike at their next meeting and the market believes them. The economic data released last week indicates a contracting economy.

Gold and silver had another down week, despite increased demand and reduced supply. (see stories below re Russian, Chinese and global demand for silver and gold)

Gold closed last week at $1083.90 and closed this week at $1077.20

Silver closed last week at $14.28 and closed this week at $14.19

The Silver Institute released their interim 2015 report that showed silver to be in deficit for the third year in a row. Our analysis (see below) indicates the deficit may be greater than the Silver Institute projects.

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

November 13, 2015

US Mint Sales Update

US Mint sold 1,500 American Gold Eagles and 96,000 American Silver Eagles today
YTD Sales Gold 25.5K
Silver 2,187,000
YTD Silver Eagles sold 42,029,500 (2014 record- 44,006,000)

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November 14, 2015


Fund Manager Frank Holmes thinks gold could hit $1350 by end of year


Catch a falling knife and buy silver?

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U.S. Dollar

Dollar rises fueled by “job gains”

De-Dollarization, The SDR and Chinese Yuan

Vote on Yuan inclusion in the SDR set for November 30

November 15, 2015

The U.S. Mint sold 9,500 American Gold Eagles & 663,000 American Silver Eagles today
MTD Sales Gold 35,000
Silver 2,850,000
YTD Silver Eagles sold 42,692,500

De-Dollarization, The SDR and Chinese Yuan

Lagarde statement on China/SDRs

U.S. Economic Data

Empire Fed -10.74, Exp. -6.20, Last -11.36


Iranian gold demand surges

November 16, 2015

The Debate over Refugees/Battling ISIS

Republican governors vow to stop Syrian refugee resettlement in their states.

Obama rules out ground troops to fight ISIS


Bloomberg runs article noting that silver sentiment is SO weak, but fails to mention silver sales and overall demand are at record levels

Note: Bloomberg later removed the “sentiment is negative” quote and replaced it with the “gold and silver don’t pay interest” so that is why gold and silver prices are falling palaver.

November 17, 2015

The Debate over Refugees/Battling ISIS

Ryan to ask House to ‘pause’ US refugee program

U.S. Mint Sales

US Mint sold 5,500 American Gold Eagles & 188,000 American Silver Eagles today
MTD Sales Gold 40,500
Silver 3,038,000
YTD Silver Eagles sold 42,880,500

Federal Reserve Policy

President threatens to veto any rules based Fed policy measures passed by Congress;
Yellen opposes too

U.S. Economic Data

Industrial production fell 0.2 percent last month after an unrevised 0.2 percent drop in September

Consumer Price Index:

CPI 0.2%, Exp. 0.2%, Last -0.2%
led by increases in rent and healthcare costs (according to Fed thinking higher prices are good for the economy)

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November 18, 2015

U.S. Mint Sales

The U.S. Mint sold 11,000 American Gold Eagles & no American Silver Eagles today
MTD Sales Gold 51,500
Silver 3,038,000
YTD Silver Eagles sold 42,880,500

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Federal Reserve Officials Yacking Rate Hike

Fed officials all talking rate hike in December


Silver Supply Demand to be in physical deficit three years a row

Solar power to boost silver prices


Platinum at 7 year low

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Real Estate

Housing starts 1.06M units in Oct vs 1.16M units expected

Renters aren’t saving to buy homes perhaps they can’t because their rents and healthcare costs eat up all their budgets?

Federal Reserve

Fed October 27-28 meeting minutes :”most” participants felt conditions for a rate hike “could well be met by the time of the next meeting,” (December)

The Debate over Refugees/Battling ISIS

Shootout in Paris bewteen French police and terrorist

November 19, 2015



Silver Institute undercounts privately minted silver bars and rounds

De-Dollarization, The SDR and Chinese Yuan

Chinese Yuan may enter SDR BUT at lower ratio


Roman Silver coins found in Switzerland

See also The Decline and Fall of The World’s First Silver Empire

Federal Reserve

House passes Fed transparency bill

The Debate over Refugees/Battling ISIS

House passes veto proof bill pausing Syrian refugee program


India’s Gold Monetization Scheme

India’s gold monetization scheme a flop so far

India’s gold monetization scheme attracts only 400 grammes so far

U.S. Mint Sales

US Mint sold 13,000 American Gold Eagles 25,000 American Silver Eagles today
MTD Sales Gold 64,500
Silver 3,063,000
YTD Silver Eagles sold 42,905,500

November 20, 2015

U.S. Mint sold no American Gold Eagles and 24,000 American Silver Eagles today
MTD Sales Gold 64,500
Silver 3,087,000
YTD Silver Eagles sold 42,929,500
(2014 record- 44,006,000)

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Shanghai Gold Exchange expands record for gold withdrawals

Russian Central Bank adds 600,000 ounces of gold to reserves in October

Fed Officials Speak

NY Fed President Dudley says Fed should be ready to raise rates soon-depends on the data- “start thinking about raising the short-term interest rates.”

St. Louis Fed President Bullard- Fed will want more uncertainty on rates after hike

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