Central Bank Market Intervention Continues.
Fed Launches Another Rate Hike Yack Attack.Top Gold And Silver Stories from the week ended September 3, 2016.
The top story of the week more revelations regarind Hillary Clinton’s “email woes”. Devices smashed with a hammer by aides.
Top economic story of the week: Non Farm Payroll a big miss.
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Gold and silver
Gold closed last week at $1320.50 and closed this week at $1324.80. (+0.3%)
Silver closed last week at $18.65 closed this week at $19.42 (+4.1%)
The gold and silver ratio ended the week at 68.22 to 1
Charts of the Week
You Tube Notes to this report
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Here are the stories we wrote, followed or commented on.
August 29, 2016
Gold
Indian Gold Demand to Get Boost From Strong Monsoon Season
China’s Zhongjin ,a leading gold producer, profits jump 3X in first half
Silver
Platinum
Structural deficit in platinum coming?
For More on Platinum, see Platinum Supply and Demand
Despite being about ten times more plentiful than platinum, the price of gold has been higher for nearly 20 months.
New – 2016 Platinum American Eagle coins available now!
US Economic Data
Dallas Fed -6.2, Exp. -.3.9
Dallas Fed employment index -5.0 vs July -2.6
Personal Income 0.4%, Exp. 0.4%
Personal Spending 0.3%, Exp. 0.3%
“…strong demand for automobiles, pointing to a pickup in economic growth that could pave the way for the Federal Reserve to raise interest rates this year.
Consumer spending is being driven by a tightening labor market, which is steadily lifting wages. Rising home values and stock market prices, which are boosting household wealth, are also supporting consumption.”
Dollar rises to Three week highs on rate hike expectations
De-Dollarization
Iran and Russia in $1 Billion oil field building deal
Germans lose faith in banks, stash cash at home
U.S. Mint Sales Update
U.S. Mint reported selling 270,000 American Silver Eagles and 9,500 American Gold Eagles today.
MTD American Silver Eagles sold 1,280,000 & American Gold Eagles sold 47,000
YTD American Silver Eagles Sold 28,900,500 /American Gold Eagles sold 483,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 9,000 sold
YTD 130,000 sold
The U.S. Mint Reported selling 1,000 Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins and 27,500 Theodore Roosevelt National Park ATB coins.
YTD Sales of Harpers Ferry coins – 36,100
YTD Sales of Theodore Roosevelt National Park 27,500
August 30, 2016
From Smaulgld.com
TOP THREE SOVEREIGN MINTS REPORT 31% SILVER SALES GROWTH IN FIRST HALF OF 2016
The Perth Mint led the three top sovereign mints with a silver sales increase of 172% in the first half of 2016.
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Gold
Resolute Mining to pay dividends in gold
Central bankers cut their purchases of gold by 40% in second quarter Price rises, physical demand falls
BBC News – New method extracts gold from mobiles
Marketwatch Here’s how the Fed (and others) will drive gold to $1,700
US Economic Data
Consumer Confidence 101.1, Exp.97.3, Last 96.7
Case Shiller Top 20 Composite MoM: -0.07%, Exp. -0.1%, Last -0.1%
Y/Y +5.13% Y/Y, Exp. 5.1%
Fed Chatter
Fed Vice Chair Fischer says negative interest rates work
Central Banks
With every “collapse” central banks gain MORE control not less. The Fed have mastered making themselves the center of attention in the short term over a long period of time. Rigged systems don’t collapse, their operators dont lose control unless they are removed from running the rigged system.
Perhaps the TBTF banks will go but CBs will replace them
Reuters: Swiss National Bank Increases its Shareholdings
“The SNB has increased its stakes in all of its top 10 U.S. holdings this year, while many big institutional investors have been reducing much of theirs.”
“Around 20 percent of the SNB’s foreign currency reserves are now in equities, up from 17 percent last year and 10 percent in 2010.”
Swiss National Bank is world’s 8th largest investor Graphic
If the Swiss National Bank is the world's 8th largest investor, what happens when the Fed decides to buy stocks? https://t.co/Aaty4FHDti
— Smaulgld (@Smaulgld) August 30, 2016
I can imagine a future where Central Banks buy entire companies, pick Boards of Directors who will do as they're told, issue debt CB's buy..
— Rudolf E. Havenstein (@RudyHavenstein) August 28, 2016
August 31, 2016
From Smaulgld.com
SEVEN WAYS TO GET HIGHER INFLATION
TOP THREE SOVEREIGN MINT GOLD SALES GROW 49% IN FIRST HALF OF 2016
The Perth, Canadian and U.S. Mints sold 1,310,215 ounces of gold in the first half of 2016.
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Gold
Someone dumped $5 billion in gold again
Spot the rouge trade.
Fed Chatter
Chicago Fed President Evans Low Growth Means Low Interest Rates Here to Stay
US Economic Data
Chicago PMI 51.5, Exp. 54.0, Last 55.8
Chicago PMI: Inventories 49.8, vs 52.0
Pending home sales 1.3%, Exp. 0.7%, Prior revised lower to -0.8%
ADP Employment Change Aug +177K exp+170K Prior 194K
U.S. Mint Sales Update
U.S. Mint reported selling no American Silver Eaglesand 3,000 American Gold Eagles today.
MTD American Silver Eagles sold 1,280,000 & American Gold Eagles sold 50,000
YTD American Silver Eagles Sold 28,900,500 /American Gold Eagles sold 486,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling no American Gold Buffalo coins.
MTD 9,000 sold
YTD 130,000 sold
The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins and no Theodore Roosevelt National Park ATB coins.
YTD Sales of Harpers Ferry coins – 36,100
YTD Sales of Theodore Roosevelt National Park 27,500
September 1, 2016
From Smaulgld.com
COLLAPSE! AMERICAN SILVER EAGLE SALES CONTINUE TO CRUMBLE IN AUGUST
American Silver Eagle sales fell for the third month in a row in August.
AMERICAN GOLD EAGLE SALES REBOUND SHARPLY IN AUGUST
Gold
Deutsche Bank’s Xetra-Gold refuses physical gold delivery on demand dont hold it dont own it especially if DB holds it
10 million more ounces of gold to come online by 2020 if price holds
US Economic Data
Initial Jobless Claims 263,000 vs 265,000 estimate
Reuters “pointing to sustained labor market strength that could push the Federal Reserve closer to raising interest rates.
associated with a robust labor market.”
August Manufacturing
ISM New Orders 49.1, lowest since November 2015
ISM Mfg August 49,4, Exp. 52.0, Last 52.6
Reuters: “SHOCKING” contraction in Aug manufacturing- contrast to SOLID ROBUST STRENGTHENING everything else?
Reuters: "SHOCKING" contraction in Aug manufacturing- contrast to SOLID ROBUST STRENGTHENING everything else? https://t.co/GwfVheRXh2
— Smaulgld (@Smaulgld) September 1, 2016
Fed Chatter
Fed Yack Attack!
Fed’s Mester case for rate hike is compelling
U.S. Mint Sales Update
U.S. Mint reported selling 140,000 American Silver Eaglesand 5,000 American Gold Eagles today.
MTD American Silver Eagles sold 140,000 & American Gold Eagles sold 5,000
YTD American Silver Eagles Sold 29,040,500 /American Gold Eagles sold 491,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 1,000 sold
YTD 131,000 sold
The U.S. Mint Reported selling no Harpers Ferry National Historical Park five ounce silver America The Beautiful Coins and no Theodore Roosevelt National Park ATB coins.
YTD Sales of Harpers Ferry coins – 36,100
YTD Sales of Theodore Roosevelt National Park 27,500
September 2, 2016
Gold
Deutsche Bank refuses clients’ demand for physical gold
India and Gold
Festive-buying spurs Asian gold demand; Indian discounts narrow
Gold recovers on global cues, jewellers’ buying
US Economic Data
Non Farm August Payroll +151K, Exp. +180K
CNBC “Rate Hike off the table”
Reuters “could effectively rule out an interest rate increase from the Federal Reserve this month.”
Last month’s jobs gains, however, could still be sufficient to push the Fed to raise interest rates in December. The rise in payrolls reinforces views that the economy has regained speed after almost stalling in the first half of the year.
August Non Farm Payrolls Slump, Gold Jumps/Non Farm Payroll Slips Silver Spikes
Factory Orders 1.9%, Exp. 2.0%
Core Capital Good orders -.05% prev -0.04%
Atlanta Fed Ups Third Quarter GDP to 3.5%
De-Dollarization
Russia Iran Agree to Settle Trade Deals in Local Currency
War on Cash
Want a Free Market – Abolish Cash
Fed Chatter
Another Fed YACK ATTACK!!!!!! Fed’s Lacker says U.S. economy could need much higher rates
Lacker Yacks and the Market Doesn’t React
Supply chain breakdown after shipping container giant Hanjin bankruptcy?
September 3, 2016
From Smaulgld.com
AMERICAN GOLD BUFFALO COIN SALES LEVEL OFF IN AUGUST
The U.S. Mint has sold 131,500 American Gold Buffalo coins through August 2016.
MEXICO DUMPS US TREASURIES AS TRUMP MARCHES CLOSER TO PRESIDENCY
Mexican holdings of U.S. Treasury Securities have fallen steadily since Donald Trump announced his candidacy for President of the United States.
.@MilkenBoesky @NuitSeraCalme @rebeltrading1 @RudyHavenstein "intermediate banks" like JPM GS go away and govts control credit/money supply
— Smaulgld (@Smaulgld) August 28, 2016
.@Ajsoti Buy any failing asset! There is a central bank that is probably willing to buy it
— Smaulgld (@Smaulgld) August 28, 2016
.@dcexaminer @JONEEFRY Why would Hillary give up the Clinton Foundation if elected? its the only reason she wants to be president.
— Smaulgld (@Smaulgld) August 28, 2016
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