Schimita Delayed… Again?
No COMEX Default or Stock Market Crash, Yet – Coming Soon?
In Case You Missed It.
Top Gold And Silver Stories from the week ended August 13, 2016.
The top economic story of the week was another round of “unexpected” poor economic data.
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Bank Of Japan set to become top owner of 55 firms in the Nikkei 225 BOJ is aleady a top-five owner of 81 companies
Gold and silver
Gold closed last week at $1335.40 and closed this week at $1335.70(unchanged)
Silver closed last week at $19.66 closed this week at $19.64 (unchanged)
The gold and silver ratio ended the week at 68.01 to 1
Charts of the Week
Platinum is priced lower than gold, despite being about ten times rarer.
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Dow Jones Has Outperformed Gold since Hitting its 2016 lows
Higher gold prices have westerners chasing gold and Asians curbing purchases
Dollars Continue To Flow into Gold ETFs
Perth Mint Gold Sales
Perth Mint gold sales in July were the lowest in more than five years.
Compare pricing and shipping on Perth Mint Gold coins for sale at these websites:
BGASC.com
JM Bullion
Money Metals Exchange
1/10 Oz Australian Kangaroo Gold Coins
from: Money Metals Exchange
Swiss National Bank Gold and Silver Mining Holdings
Documents filed by the Swiss National Bank with the SEC reveal a $1B gold and silver mining portfolio.
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Here are the stories we wrote, followed or commented on:
August 7, 2016
From Smaulgld.com
PEOPLE’S BANK OF CHINA GOLD RESERVES RISE SLIGHTLY IN JULY
The People’s Bank of China added almost 5 tonnes of gold to reserves in July.*
August 8, 2016
Gold
Gold Reserve Inc. to get $770 million in settlement with Venezuela – subject to financing
Gold and Silver
Gold and Silver ETFs Top the Charts
FT Victory For Gold Bulls Just Beginning
Blame Brexit
Chinese imports and exports down in July
“pointing to further weakness in global demand in the aftermath of Britain’s decision to leave the European Union.”
Fed Chatter
Fed’s Powell urges “patience” on rate hikes
“With inflation below target, I think we can be patient.” He spoke on Thursday before STRONG payroll numbers were released.
US Economy
U.S. equities are the “best house in that bad neighborhood. … and that’s why the U.S. stock market has continued to outperform.” NO the market is being propped up
Donald Trump
Donald Trump Economic Speech – “the Five Percent Unemployment Number is one of the biggest politcal hoaxes”
promoted industrialization over financialization Americanism over globalism
U.S. Mint Sales Update
U.S. Mint reported selling 150,000 American Silver Eagles & 10,000 American Gold Eagles today.
MTD American Silver Eagles sold 225,000 & American Gold Eagles sold 15,000
YTD American Silver Eagles Sold 27,845,500 /American Gold Eagles sold 451,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 19,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 0 American Gold Buffalo coins.
MTD 1,500 sold
YTD 124,000 sold
The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.
YTD Sales of Harpers Ferry coins – 34,200
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
August 9, 2016
54% of Americans see the economy as poor
Gold
London to get new gold futures exchange
Comex competition from London? “The World Gold Council and the 139-year-old London Metal Exchange (LME), together with Goldman Sachs GS, +0.77% , ICBC Standard Bank, Morgan Stanley MS, +1.05% , Natixis, OSTC and Societe Generale”
perhaps just reinforce- same cast of characters
Oil
Fed Chatter
Hilsenrath’s Take: Dollar Gives Fed Some Room to Breathe Easier
U.S. Economic Data
Wholesale Inventories +0.3%, Exp. 0.0%
Reuters suggesting an upward revision to the second-quarter economic growth estimate.
NONFARM PRODUCTIVITY -0.5% VS 1Q -0.6%; Y/Y -0.4% vs exp +0.4%/
high turnover, unskilled part time labor partially to blame?
Donald Trump
CNBC: Wall Street Bankers Don’t like Trump
August 10, 2016
From Smaulgld.com
HOW THE SWISS NATIONAL BANK BUILT A $1 BILLION MINING SHARE PORTFOLIO
Set forth below is the Swiss National Bank’s top twenty five initial mining share holdings as of June 30, 2013 and their values as of July 1, 2013.
The Swiss National Bank’s Gold and Silver Mining Share Holdings as of June 30, 2013
Goldcorp, Newmont and Barricks were the largest initial Swiss National Bank’s largest mining share holdings.
Gold
Asian gold demand to fall 15-20% on higher prices- Scottia Bank
How Much is an Olympic Gold Medal Worth?
The world’s oldest gold artifact?
India’s cash for gold lenders headed for trouble?
US Economic Data
JOLTS job openings 5.624MM, Exp. 5.588MM, Last 5.514MM
Oil
Saudi Arabia output hits record high in July
U.S. Mint Sales Update
U.S. Mint reported selling no American Silver Eagles and 6,000 American Gold Eagles today.
MTD American Silver Eagles sold 225,000 & American Gold Eagles sold 21,000
YTD American Silver Eagles Sold 27,845,500 /American Gold Eagles sold 457,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 19,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 1,500 sold
YTD 124,000 sold
The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.
YTD Sales of Harpers Ferry coins – 34,200
August 11, 2016
From Smaulgld.com
AMERICAN GOLD BUFFALO COIN SALES FALL 68% IN JULY
The U.S. Mint has sold 122,500 American Gold Buffalo coins through July 2016.
Gold
Gold Demand Slumps in Middle East- At Record Lows in Egypt and Turkey
But WGC “Record “Investment Demand”
Gold bug? You’re not alone as gold demand sets new record
Gold investment demand 16% higher that prior record
For the first time, investors were the largest buyers of gold for two consecutive quarters
Seems like the media is not touting the “record gold demand” ie ETF Comex paper buying
“Buying by institutional and retail investors, mainly in the west, hit a new high of 1,064 tonnes, 16% Exchange-traded funds, which track the spot price of gold, had a stellar first half, recording inflows of nearly 580 tonnes.”
Isn’t that wonderful – all the westerners buying ETF….
They never cheered on physical buying like this..
Silver
Silver ETF Returning 280% Says Party Not Over in Yield-less Era
You can see what is happening. If they cant keep a lid on gold & silver demand- DIVERT IT to ETFs
Palladium
Palladium Prices Surge on Chinese car demand
Schmita Delayed?
S&P 500, Dow, & Nasdaq hit records together for the first time since 1999. https://t.co/FSlRTviubm pic.twitter.com/EPs4nKPAkm
— Worth W. Wray (@WorthWray) August 11, 2016
US Economic Data
Initial Claims 266K, Exp. 265K
Reuters “U.S. labor market firming” pointing to sustained labor market strength in early August that could help spur faster economic growth.
Fed Chatter
Fed’s Williams-We should raise rates this year
Fed should raise interest rates this year, Williams says https://t.co/qlOYnquyKw pic.twitter.com/lP8OTpXRMH
— Smaulgld (@Smaulgld) August 12, 2016
August 12, 2016
Gold
Indian and Chinese Gold jewelry demand down on higher prices
US Economic Data
Retail Sales July 0.0% Exp. 0.4%, Last 0.6%
Retail Sales ex auto -0.3%, Exp.0.2%, Last 0.9%
PPI -0.4%, Exp. 0.1%, Last 0.5%
Reuters:
could temper expectations* of an acceleration in economic growth in the third quarter.
suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market
*their own
Gold and Silver React
The price of gold rallied on the poor sales numbers and the negative producer price index reading.
Silver reacted in the same way as gold on the release of the spending and PPI numbers and got its own smackdown later in the trading session too.
UMich Consumer Sentiment 90.4, Exp. 91.5,
Business Inventories 0.20%, Exp. 0.10%, Last 0.20%
British Pound
China
IMF says Chinese credit growth is unsustainable
Pro Wrestling
Goldman up against JPMorgan in gold battle
Clinton Tax Returns
Clintons made $10.7 million in 2015 What is the SOURCE of that income? What job did Hillary or Bill have in 2015? Speeches!
Donated 10% of their income to the Clinton foundation
SDR Update
First SDR/Yuan bond issuance approved by World Bank
U.S. Mint Sales Update
U.S. Mint reported selling 100,000 American Silver Eaglesand 5,500 American Gold Eagles today.
MTD American Silver Eagles sold 325,000 & American Gold Eagles sold 26,500
YTD American Silver Eagles Sold 27,945,500 /American Gold Eagles sold 462,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 19,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 2,000 American Gold Buffalo coins.
MTD 3,500 sold
YTD 126,000 sold
The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.
YTD Sales of Harpers Ferry coins – 34,200
You Tube Notes to this report
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America The Beautiful coin sales: US Mint
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