Emmanuel Macron Defeats Marine Le Pen In French Presidential Race.
Gold and Silver Fall; Gold Silver Ratio Tops 75:1.
Fed Hints at More Rate Hikes as Economy Slows.
Gold Demand In China/India Rises; Falls at U.S. Mint.
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Top stories:
Russian Hack of French Election?
France elects Emmanuel Macron despite hack and release of potentially damaging documents and emails. Macron and media immediately blame Russia. Macron’s win solidifies EU grip on power and provide a win against “anti democratic” Russia. Symbolically slows nationalism.
The release of documents occurred to late to impact the outcome due to the black out period prior to the election.
Top economic story: Federal Reserve concluded their May meeting without raising rates, but gave hawkish signals that more rate hikes are on the way.
Gold and Silver:
Gold and silver.
Gold closed last week at $1267.70 an ounce and closed this week at $1227.90 -3.1%
Silver closed last week at $17.16 an ounce and closed this week at $16.31 -5%
The gold and silver ratio ended the week at 75.16:1
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Tweets of the Week
Chinese credit expansion
China, despite its gold, has caught credit fever toohttps://t.co/QxtKyGvlEX https://t.co/ZLnmGdjK13
— Smaulgld (@Smaulgld) May 1, 2017
New Indian cashless gold buying app
As India goes cashless, a new app allows them to buy gold without cash: https://t.co/kLOHM13ZRm
— Smaulgld (@Smaulgld) May 1, 2017
Paris – City of Fights
Paris – City of Fights https://t.co/7vdhIDEyff
— Smaulgld (@Smaulgld) May 1, 2017
Gold silver Ratio
.@mauritius_gold @ergathrok91354 @Annrhefn @simjojim yes, so expecting markets to revert to a set ratio is itself irrational!
— Smaulgld (@Smaulgld) May 2, 2017
Gold is decentralized money
Gold is Decentralized money not dependent on govt. regulated internet or electricity https://t.co/uNZgrtN97k
— Smaulgld (@Smaulgld) May 4, 2017
Charts of the Week
Last week was Smaulgld Appreciation Week, so there was a lot of original content.
Here are the stories we wrote, followed or commented on.
May 1, 2017
From Smaulgld.com
WIPE OUT! – AMERICAN GOLD EAGLE SALES FALL TO TEN YEAR LOW
Fed Chatter
Fed could cut its balance sheet in half, Bernanke says
Atlanta Fed projects 4.3% GDP in second quarter
US Economic Data
Personal Income 0.2%, Exp. 0.3%
Personal Spending 0.0%, Exp. 0.2%
PCE -0.2%, Exp. -0.2%
1.8% Y/Y, Exp. 1.9%, Last 2.1%
Core PCE -0.1%, Exp. -0.1%
1.6% Y/Y, Last 1.8%
US Mfg PMI 52.8, Exp. 52.8, Last 53.3
ISM Mfg 54.8, Exp. 56.5, Last 57.2
Construction Spending -0.2%, Exp. 0.4%
U.S. Mint Sales Update
U.S. Mint reported selling 530,000 American Silver Eagles and 2,000 American Gold Eagles today.
MTD American Silver Eagles sold 530,000 & American Gold Eagles sold 2,000
YTD American Silver Eagles sold 9,322,500/American Gold Eagles sold 129,000
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 1,000 sold
YTD 60,000 sold
The U.S. Mint sold 400 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD Effigy Mounds ATB coins 20,600. The US Mint also sold 800 Frederick Douglas National Historical Site ATB coins.
Total YTD ATB coin sales 20,700 Effigy Mounds National Monument coin and 18,400 Frederick Douglas National Historical Site ATB coins. Total 39,100
May 2, 2017
From Smaulgld.com
AMERICAN SILVER EAGLE SALES OUT SHINE GOLD EAGLE SALES IN APRIL
CENTRAL BANK OF KAZAKHSTAN GETS SERIOUS ABOUT ITS GOLD RESERVES
THREE LARGE SILVER STOCK PILES
Will Fear or Greed Prevail During the Trump Administration?
Gold
Rye Patch now pouring gold at Florida Canyon
BOJ's Kuroda welcomes expansion of China-led infrastructure bank
China's capital controls to hamper yuan internationalization: Fitch
Will Fear or Greed Prevail During the Trump Administration?
May 3, 2017
From Smaulgld.com
AMERICAN GOLD BUFFALO SALES ADD NO RELIEF TO PLUMMETING US MINT DEMAND
PERTH MINT DISMAL APRIL GOLD SALES TOP U.S. MINT GOLD SALES
INDIA IMPORTED $7.7 BILLION IN GOLD IN FEB & MARCH VS $294 MILLION IN SILVER
US Economic Data
ADP 177K, Exp. 175K
Fed Tosses Word Salad
FOMC: "The Committee views the slowing in growth during the first quarter as likely to be transitory"
May 4, 2017
Smaulgld.com
PERTH MINT SILVER SALES IN APRILL
De-Dollarization
PBOC's Zhou Says Belt-Road Financing Should Use Local Currencies
From Smaulgld.com
CHINA
Kyle Bass Warns "All Hell Is About To Break Loose" In China
Gold
Shandong province becomes world’s third largest gold-mining site
Silver
Dow Silver Ratio
Buying Mania Will Push Silver Price Much Higher As Dow Jones-Silver Ratio Falls Back Towards 50/1
"So, the huge pressure heading into Bitcoin is released at much higher prices, while the pressure in the Silver Market is released by adding more and more contracts onto the exchanges. So, this caps the silver price and momentum."
US Economic Data
Factory Orders 0.2%, Exp. 0.4%, Last 1.2%
Initial Claims 238K, Exp. 247K
Unit Labor Costs 3.0%, Exp. 2.5%, Last 1.3%
Nonfarm Productivity -0.6%, Exp. -0.2%
May 5, 2017
From Smaulgld.com
Happy Cinco de Mayo!
Mexican Silver Libertad coins are minted in various sizes available here from Golden Eagle Coins.
Compare Pricing and Shipping on Mexican Silver Libertad Coins
Gold
Chinese demand for gold bars and coins soars in first quarter
Lower gold prices bolster gold demand; premiums rise in India, China
The glittering history of Saudi gold
US Economic Data
April payrolls 211K, Exp. 190K
Unemployment Rate 4.4%, Exp. 4.6%
Average Hourly Earnings 0.3%, Exp. 0.3%, Last 0.1%
Fed Chatter
James Bullard, St. Louis Fed President: "If Fed hikes once or twice, not the end of the world"
Fed
NY Fed Cuts Q2 GDP To 1.8% From 2.3%
Atlanta Fed At 4.2%
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May 6, 2017
From Smaulgld.com
May 7, 2017
LOCAL CURRENCIES SHOULD BE USED IN BELT & ROAD FINANCING – PBOC PRESIDENT
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