In Case You Missed It – Week Ended November 21, 2015.
Stories from the week ended November 21, 2015.
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.
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)
Buy 2015 American Silver Eagle Coins
November 14, 2015
Gold
Fund Manager Frank Holmes thinks gold could hit $1350 by end of year
Silver
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
Gold
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
Silver
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
Buy 2015 American Silver Eagle Coins
Federal Reserve Officials Yacking Rate Hike
Fed officials all talking rate hike in December
Silver
Silver Supply Demand to be in physical deficit three years a row
Solar power to boost silver prices
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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
The Debate over Refugees/Battling ISIS
Shootout in Paris bewteen French police and terrorist
November 19, 2015
Silver
From Smaulgld.com
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
Silver
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
Gold
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)
Buy 2015 American Silver Eagle Coins
From Smaulgld.com
Shanghai Gold Exchange expands record for gold withdrawals
Russian Central Bank adds 600,000 ounces of gold to reserves in October
Fed Officials Speak
St. Louis Fed President Bullard- Fed will want more uncertainty on rates after hike