Russia China Reportedly in Talks To Create Gold MarketPlace.
Participation in the Gold Marketplace would facilitate trading among Brazil, India, China, Russia and South Africa.
Trump Blames Freedom Caucus For Health Care Legislative Defeat.
Russia, Trump and Surveillance Battle for Media Attention.
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Top stories: Trump attacks freedom caucus for not supporting health care bill. Former Obama administration employee Eveyn Farcus MSNBC video emerges supporting the need to maintain Russian intelligence on Trump.
Top economic story of the week: Dollar weakens, Fed talks up rate hikes. Gold and silver rise.
Report that China and Russia are working on a gold payments system.
Russia, China Lay Groundwork For BRICS Transactions in Gold (a gold payments standard)
Types of Gold Standards
Currency backed by gold and redeemable in gold – eg. Dollar standard/Bretton Woods-breaks down when redemptions accelerate.
Currencies have fixed exchange rate to gold– classical gold standard (1880 to 1914) – breaks down when countries want “flexibility”.
Gold payments standard – no gold, no goods
Listen to Alan Greenspan explain why gold is the world’s premiere fiat currency.
Gold and silver.
Gold closed last week at $1242.90 an ounce and closed this week at $1249.20 +.05%
Silver closed last week at $17.74 an ounce and closed this week at $18.23 +2.8%
The gold and silver ratio ended the week at 68.56:1
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Tweet of the Week
https://twitter.com/Smaulgld/status/847469202042535937
Here are the stories we wrote, followed or commented on.
March 27, 2017
Gold
€1 million gold coin stolen from iconic Berlin museum
Massive 100 Kilogram Gold Coin Worth $4.5 Million Stolen From German Museum
Surfers Paradise gold digger finds four more nuggets in the sand on Gold Coast beach
U.S. Mint Sales Update
U.S. Mint reported selling 25,000 American Silver Eagles and 1,000 American Gold Eagles today.
MTD American Silver Eagles sold 1,320,000 & American Gold Eagles sold 15,500
YTD American Silver Eagles Sold 7,662,500/American Gold Eagles sold 123,000
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint sold 200 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD ATB coins 19,700.
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 0American Gold Buffalo coins.
MTD 7,000 sold
YTD 54,000 sold
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
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March 28, 2017
US Economic Data
Case Schiller Jan. 20-City Composite: +0.9%, Exp. 0.7%; Y/Y 5.7%; Exp. 5.60%, Last 5.50%
Consumer Confidence CB March 125.6, Exp. 114.0, Last 114.8
US Advance Goods Trade Deficit Feb. 64.8BN, Exp. $66.4BN
Gold
Russia, China Lay Groundwork For BRICS Transactions in Gold (not a gold standard, but a gold payments standard)
China’s largest ever gold mine found in Shandong with potential value of over $22 billion
House Committee Passes Bill To “Audit The Fed”
Fed Chatter
FISCHER: TWO MORE RATE HIKES SEEMS TO BE ABOUT RIGHT
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
March 29, 2017
BREXIT
US Economic Data
MBA Mortgage applications -0.8%, vs -2.7% Last
Purchases +1.2%, -2.1% Last
Refis -2.9%, -3.3% Last
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March 30, 2017
Gold
Keep in mind gold doesn’t have any intrinsic value
Silver
US Economic Data
Q4 GDP Final Estimate: 2.1%, Est 2.0%
Initial Claims 258K, Exp. 247K
Fed Chatter
FED’S DUDLEY, ASKED ABOUT MBS HOLDINGS, SAYS ‘WE DON’T CONTEMPLATE ACTIVELY SELLING ASSETS’
“The Fed Shouldn’t Overreact To Every Market Wiggle”
Fed’s Williams Says Monetary Policy ‘Adding a Lot of Stimulus’
War on Cash
New rules forcing banks to alert police to transactions worry rights group
U.S. Mint Sales Update
U.S. Mint reported selling 295,000 American Silver Eagles and 500 American Gold Eagles today.
MTD American Silver Eagles sold 1,615,000 & American Gold Eagles sold 16,000
YTD American Silver Eagles Sold 7,957,500/American Gold Eagles sold 123,500
Compare Pricing and Shipping on American Gold Eagle Coins
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 1,500American Gold Buffalo coins.
MTD 8,500 sold
YTD 55,500 sold
The U.S. Mint sold 0 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD ATB coins 19,700.
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
You can compare American Gold Buffalo coins for sale at these websites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
March 31, 2017
Gold
Festival drives Indian gold demand; higher prices curb buying elsewhere
Silver
Scientist uses a touch of silver to kill bacteria safely
London Metal Exchange imposes $1.4 mln fine on Glencore warehouse unit
US Economic Data
Personal Income 0.4%, Exp. 0.4%
Personal Spending 0.1%, Exp. 0.2%
Real Personal Consumption: -0.1%
UMich 96.6, Exp. 97.6
Chicago PMI 57.7, Exp. 56.9
Chicago PMI Employment tumbles to 49.9 from 57.7
Atlanta Fed reduces first quarter GDP estimate to 0.9%
Fed Chatter
BULLARD SAYS 1Q GDP TRACKING ESTIMATES SHOWING SUB-1% GROWTH
Bullard: Ending Bond Reinvestments Could Cause Fed To Slow U.S. Rate Hikes
Would Back More Rate Hikes If Inflation Threatened To Go Significantly Higher –
FED’S DUDLEY: COUPLE MORE HIKES THIS YEAR SEEMS REASONABLE
NO GREAT URGENCY TO TIGHTEN MONETARY POLICY
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April 1, 2017
EXCLUSIVE: CHINESE/SAUDI DOCUMENTS PROVE GAME OVER!
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