The Price of Gold Continues to Rise as Asian Gold Demand Falters

In Case You Missed It.

Top Gold And Silver Stories from the week ended July 30, 2016.

The top stories of the week involved Hillary Clinton and her nomination for President, the first woman ever so nominated, amid boos and jeers of lock her up!

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You Tube Notes to this report

Telling:

BOTH parties chanted Lock Her Up!
Cruz was booed for not endorsing Trump
Sanders booed FOR endorsing Clinton

Year of the anti establishment/anti politician

Democrats have politicians and news media openly supporting Clinton (CNN, Washington Post, NY Times) but this year political endorsements are LESS important – in fact to some degree a negative. A year in which Trump openly insults the former President’s brother, calls the Democratic nominee “crooked Hillary” and STILL manages to remain competitive in the race for President.

The other top story was the aftermath of the release of DNC documents showing the media and DNC in the tank for Hillary.

https://twitter.com/Smaulgld/status/757962340788764672

90% of Sanders supporters are for Clinton. We are in a really good place right now in our party-Senator Claire McCaskill

Media narrative that Russia hacked DNC servers, yet no evidence Russia hacked Top Secret docs from unprotected private server in Hillary’s bathroom. Trump mentions in a press conference that if Russia has the Clinton deleted emails to turn them over.

David Gregory: Trump is not serious about national security matters
https://twitter.com/Smaulgld/status/758334050125877248

The top economic story was the continued march higher of gold and silver after the FOMC meeting and release of the abysmal GDP numbers for the first half of 2016.

Gold and silver

Gold closed last week at $1322.10 and closed this week at $1350.40 (+2.1 %)

Silver closed last week at $19.59 closed this week at $20.28(+3.5%)

The gold and silver ratio ended the week at 66.55 to 1

Charts of the Week

Sharp Decline In Chinese Gold Demand in 2016

The Gold Platinum Ratio

Gold is priced 1.19:1 to Platinum

Platinum Supply and Demand

Gold vs. The British Pound

Gold has risen over 40% against the British Pound in 2016.

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Companion audio to this blog post

SHARP GOLD PRICE INCREASE BELIES DRAMATIC DECLINE IN ASIAN GOLD DEMAND – IN CASE YOU MISSED IT – WEEK ENDED JULY 30, 2016 from Smaul Gld on Vimeo.

Here are the stories we wrote, followed or commented on.

July 25, 2016

Gold
Surge in gold prices doesn’t help Madagascar gold miners much

U.S. Economic Data

Dallas Fed -1.3, Exp. -10; Last -18.3

U.S. Mint Sales Update

U.S. Mint reported selling 125,000 American Silver Eagles 2,500 American Gold Eagles today.

MTD American Silver Eagles sold 1,320,000 & American Gold Eagles sold 25,000

YTD American Silver Eagles Sold 27,570,500 /American Gold Eagles sold 431,000

The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 9,000 sold YTD 121,500 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

July 26, 2016

Gold

Japan opens physical gold trading market

World Heading Towards a Gold Shortage

NatWest and Negative Interest Rates for Retail Depositors

Royal Bank of Scotland Prepares Clients for Negative Interest Rates

ABN Amro: Donald Trump Could Push #Gold Prices $500 Higher

Chinese Gold Imports Slide in June

Higher prices, import duties and taxes main causes for decline of gold demand in Asia

China’s gold consumption plunged 7.7% in 1H: Securities News led by decline in jewelry demand, offset by gains in bar and coin demand.

PBOC (down 45% over the past six months) and Shanghai Gold Exchange (down 29% in June year over year) also down significantly this year.

The People’s Bank of China added almost 15 tonnes of gold to reserves in June 2016 and none in May*.

Indian government action has slowed gold imports and are down 43% year over year.

Western Gold ETF demand balances drop in Asia

Peru in bid to Stop Illegal Gold Mining

Gold in Ireland!

India’s Gold Trade Imploding discounts on gold as War on Gold intensifies with 10% duty still in place

Mining the Pharaohs’ Gold in Egypt using ancient documents/maps

Silver

US Economic Data

New Home Sales 592K, Exp. 560K, Last 572K
ZILLOW:Buyers better act fast because homes are “flying off the market” ACT NOW OR BE PRICED OUT FOREVER!

Consumer Confidence 97.3, Exp. 96

PMI Services 50.9, Exp. 52.0, Last 51.4

Case Shiller Top 20 Composite Index Up 5.24% Y/Y; Est 5.52%

U.S. Mint Sales Update

U.S. Mint reported selling 25,000 American Silver Eagles 1,000 American Gold Eagles today.

MTD American Silver Eagles sold 1,345,000 & American Gold Eagles sold 26,000

YTD American Silver Eagles Sold 27,595,500 /American Gold Eagles sold 432,000

The U.S. Mint reported selling 18,500 one ounce American Platinum Eagle coins.

Add Platinum to Your Portfolio

The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 9,500 sold YTD 122,000 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

Premiums on American Silver Eagles remain low as dealers are fully stocked.

Compare American Silver Eagles for sale at:

BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange

July 27, 2016

Gold

Bloomberg: The Ups and Downs of Gold “Gold has lost its allure” Alluring gains to day from $1315 when published to $1328 and closed the week at $1350

URL- the fall of gold

Chinese Gold Mining hit 450 tons in 2015, highest in the world

Japan unveils $265 billion stimulus

US Economic Data

Durable Goods -4%, Exp. -1.4% (DG dont creat jobs the BLS does)

Fed Leaves rates unchanged

FOMC: KC FED’S GEORGE DISSENTS, WANTS HIGHER RATES

Gold Price

Gold spiked after the Fed decision

Silver Price

Silver also rose post FOMC.

July 28, 2016

Platinum

Platinum grabs limelight best month in four years.

Gold

India gold discounts hit record highs as demand falters

Asian/ Indian gold demand lower on higher prices, despite discounts in India Physical demand in China and Hong Kong muted.

Real Estate

Home ownership rate falls to lowest on record lowest since 1965 -62.9%

US Economic Data

Initial Claims 266K, Exp. 262K

U.S. Mint Sales Update

U.S. Mint reported selling 0 American Silver Eagles 2,000 American Gold Eagles today.

MTD American Silver Eagles sold 1,345,000 & American Gold Eagles sold 28,000

YTD American Silver Eagles Sold 27,595,500 /American Gold Eagles sold 434,000

The U.S. Mint reported selling 500 one ounce American Platinum Eagle coins.
MTD/YTD 19,000 American Platinum Eagle coins sold.

The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 9,500 sold YTD 122,000 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD Sales of Harpers Ferry coins – 34,200

July 29, 2016

US Economic Data

Q2 GDP 1.2%, Exp. 2.6%

Q1 GDP revised to 0.8% from 1.1%

Umich confidence 90.0, Exp. 90.2

Chicago PMI reported at 55.8, Exp. 54.0, Last 56.8

Silver

Silver is the top performing commodity in 2016 as of July

Fed Chatter

San Francisco Fed President not worried about a recession

Dallas Fed President Kaplan says he’s still hopeful for ‘solid’ GDP growth in 2016

Sees Rate hikes

Japanese Yen

Yen soars vs US Dollar as BOJ disappoints on stimulus

IMF admits disastrous love affair with the euro and apologises for the immolation of Greece

U.S. Mint Sales Update

U.S. Mint reported selling 25,0000 American Silver Eagles 2,000 American Gold Eagles today.

MTD American Silver Eagles sold 1,370,000 & American Gold Eagles sold 30,000

YTD American Silver Eagles Sold 27,620,500 /American Gold Eagles sold 436,000

The U.S. Mint reported selling no one ounce American Platinum Eagle coins.
MTD/YTD 19,000 American Platinum Eagle coins sold.

The U.S. Mint reported selling 500 American Gold Buffalo coins.

MTD 10,0000 sold YTD 122,500 sold

The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins.

MTD 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

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