In Case You Missed It.
In Case You Missed it Week Ended September 12, 2015.
Stories from the week ended September 12, 2015.
The week began with global markets in turmoil from the prior week’s declines.Concerns over a potential U.S. Fed rate hike dominanted trading considerations. Global markets, however, opened higher on the 7th, with the Japanese Nikkei leading the gains with a massive 1,000+ point one day gain. U.S. markets across the board ended the week about 2% higher.
During the week, we made some site changes to Smaulgld.com adding archives for the Perth, Canadian and U.S. Mint silver and gold monthly sales reports.
We archived the weekly Shanghai Gold Exchange withdrawals and the monthly Russian Gold Reserves data.
We also added Amazon U.K. as a Smaulgld.com affilaite for our sizable U.K reader and subscriber base. You can find permanent U.K. and U.S. Amazon search widgets in the right hand column of the site.
Gold prices ended about $14 lower on the week at $1108.70 per ounce.
Silver prices were up about $3, closing at $14.61 after opening the week at $14.58 per ounce.
Here are some of the top stories from the last week, in case you missed it…
September 11, 2015
The Brazilian meltdown continued last week with gold hitting an all time high against the Brazilian Real:
Gold Hits Record High Against the Brazilian Real
After months of ignoring or denying that silver and gold sales were soaring, Reuters ran an article taking notice of the obvious:
Reuters Notes Strong U.S. and European Gold Sales
The United States Bureau of Labor Statistics released its Producer Price Index. The PPI showed flat producer prices, leading some commentators to think the Fed may raise rates at its meeting next week.
We believe the Fed will raise rates this year to combat ongoing de-dollarization initiatives. For more information on this view see here and here.
August PPI Flat vs -.1% drop/ex food and energy +.3%
Browse Collectible Coins on Amazon
Goldman Sachs came out with a bold call on the direction of oil prices:
Goldman Sachs forecasts $20 per barrel oil
We published the latest Shanghai Gold Exchange withdrawal data for the week ended September 4, 2105
September 10, 2015
The U.S. Mint continues to sell large amounts of gold and silver. Silver sales, while sizable, have been restrained by production bottleneck causing the U.S. Mint to put is Authorized Purchasers on allocation.
U.S. Mint sold 4,000 American Gold Eagles today & 100,000 American Silver Eagles.MTD sales: 41,000 American Gold Eagles; 1,254,000 American Silver Eagles
As India prepare to embark on a gold monetization scheme, it gets an assit from Bloomberg.
Bloomberg propaganda: Outlook for Gold bulls gets worse-“because India is going to monetize gold/curb demand”
In the coming week, we will be covering India’s scheme to try and convince its citizens to turn in their gold in exchange for the right to receive interest.
Deutsche Bank weighed in against a Fed rate hike next week:
Seven Reasons the Fed Won’t Raise Rates Next Week: Deutsche Bank
The COMEX drama over registered gold continues…
Is COMEX really drained of its gold and set to declare force majeur?
COMEX Defiant: Was it Over When They Bombed the London Gold Pool?
Weekly jobless claims were in line with expecations:
US weekly jobless claims total 275,000 vs 275,000 estimate
Indian gold and silver imports continue to expand at an impressive pace as Bullionstar’s Koos Jansen reported:
India Precious Metals Import Explosive – August Gold 126t, Silver 1,400t
September 9, 2015
Peter Hambro Chairman & Co Founder of Petropavlovsk explains gold to two Bloomberg employees in this video:
Is Gold Still A Safe Haven Asset? – Bloomberg Interview with Peter Hambro Chairman & Co Founder of Petropavlovsk
The Wealth Watchman gives his take on geo-politcal events:
The Firing Line between East and West is now Red Hot- by the Wealth Watchman
The U.S. stock market had a down day today bucking the global rise in equities.
U.S. Stocks Plummett Despite Global Rally;”record job openings” cited for drop
US Mint sold 5,500 American Gold Eagles today & no Silver Eagles. MTD: 37,000 American Gold Eagles; 1,154,500 American Silver Eagles sold
COMEX Registered Ounces of Gold Available For Delivery Plummeting!
COMEX Owners Per Ounce of Gold over 200!
South African Gold on the Brink With Half of Mines Losing Money
China Just Killed the World’s Biggest Stock-Index Futures Market
Japan’s Nikkei in monster 1000 point rally, posting biggest gain since 2008
Details on India’s scheme to wrest gold from its citizens.
India’s Modi Moves Closer to Tapping Gold Hoard to Cut Imports
Indian Cabinet approves gold monetisation scheme and gold bonds to cut imports.
China Premier Li: No basis for continued yuan devaluation
Foreign private investors are stepping up Treasury purchases as foreign central banks step back, via Deutsche Bank (CHART)
We launched a Mexican Silver Libertad coins for sale page.
September 8, 2015
Sales of the popular Mexican Silver Libertad coins were suspended nationwide at Banca Azteca a primary outlet for sales of Libertads:
Silver Libertad sales halted at Banca Azteca in Mexico
In response, Smaulgld launched a Mexican Silver Libertad coins for sale page where you can get information on these coins and compare pricing and shipping.
“Nazi “Gold Train” gold found; Russian WWII gold found– A Sign the West is out of gold and needs to rely on “finds”
Browse Silver Coins on Amazon
Treasure hunter says he has found 100 tons of Soviet gold hidden from Nazis during WWII
The U.S. Mint sold 21,500 one ounce American Gold Eagles today & 900,500 American Silver Eagles
MTD Sales: 31,500 American Gold Eagles; 1,154,500 American Silver Eagles
Moscow Stock Exchange Breaks, All Trading Halted For “Glitch”
The real reason to worry about China’s FX reserves
September 7, 2015
Paul Krugman: Trump is Right on Economics
Calming words from France’s mega bank Société Générale:
SocGen says the U.S. stock selloff is overdone, and these 3 charts show why
J.P. Morgan announced that it was pulling stakes from trading on the London Metals Exchange.
JPMorgan to Abandon Floor Trading at the London Metal Exchange
We reported on China’s update to its gold reserves.
September 6, 2015
Why the Fed will raise rates
Analyst Ronan Manly weighs in on the LBMA:
Moving the goalposts….The LBMA’s shifting stance on gold refinery production statistics
Where Will Texas’ Gold Be?
Polish soldiers seal off ‘Nazi gold train’ location as finders reveal their ‘clear evidence’
IMF Cheif Christine Lagarde warns the Fed on any interest rate hike:
IMF Chief Lagarde Says Fed Must Be Sure of Jobs and Prices Before Moving
China Tells World’s Top Economies Its Turmoil Is Set to Subside
We reported on Perth Mint’s August gold and silver sales