In Case You Missed It – Week Ended December 19, 2015.

Stories from the week ended December 19, 2015.

The main news stories were about the race for the U.S. Presidency. The Republicans held a debate and Democrats Bernie Sanders and Hillary Clinton campaigns aruged over access to voter lists.

The U.S Congress passed a massive spending bill and politicians bickered over how to fight ISIS.

The main economic news of the week was the Federal Reserve’s announcement on Wednesday that they raised interest rates a quarter of a percentage point– the first interest rate hike in over ten years.

Gold and silver see-sawed during the week- rising before the Fed announcement and after the Fed announcement, then selling off the next day and rebounding on Friday.

Gold closed last week at $1074.20 and closed this week at $1066.10.

Silver closed last week at $13.89 and closed this week at $14.08.

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

December 13, 2015

Pre Fed Announcement Chatter

The Feds “New” worry

Fed on course to do exactly as I said- talk all yr abt a hike,do one that causes them to cut rates to neg and do QE4 https://t.co/TbTNxyjZdV — Smaulgld (@Smaulgld) December 14, 2015

Silver

From Smaulgld.com

President Obama Signs Bill to Allow the U.S. Mint to Increase the Silver Content of U.S. silver coins

Buy 90% Junk Silver From BGASC.com

December 14, 2015

Gold

Gold trading at discount in India

European Central Bank

ECB will meet Inflation target- Draghi

U.S. Mint Sales Update

The U.S. Mint Sold 853,000K American Silver Eagles today & NO American Gold Eagles (production halted)

YTD Silver Eagle Sales 46,639,000 (a record)



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BGASC.com

Golden Eagle Coins

JM Bullion

Money Metals Exchange

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

Obama on ISIS/ISIL

Obama updates on ISIS fight progress

December 15, 2015

Silver

New World Silver Council to be Launched

U.S. Economic Data

The U.S. economic data continues to be sub par.

Empire Fed -4.59, Ex. -7.0, Prior -10.74 (five months in a row contraction)

CPI 0.0% Exp 0.1% Prior 0.0

Core CPI 0.2% Exp 0.1% Prior 0.2

Baltic Dry Index sinks to all time low

December 16, 2015

US Economic Data

The last U.S. economic data prior to the Fed announcement wasn’t good:

US MFG PMI 51.3, Exp. 52.6, Last 52.8

Industrial Production tumbled -0.6%, Exp. +0.2%

Federal Reserve

The Federal Reserve announced a quarter point rate hike, in line with our prediction.

From Smaulgld.com

Smaulgld on Why the Fed Raised Rates

New York Times on Why the Fed Raised Rates

The Fed cited job growth as a key reason for raising rates:

From the NY Times:

“Among the Fed’s roles are maximizing employment and moderating inflation. Job growth has strengthened steadily since the recession, and the Fed’s policy-making committee said in a statement it expected that progress to continue.”

We predicted all year that not only would the Fed raise rates, but that they would point to “sturdy job growth” as the rationale.

U.S. Mint Sales Update

US Mint Sold 361,000 American Silver Eagles today & NO American Gold Eagles (production halted)

YTD Silver Eagle Sales 47,000,000 (a record)



December 17, 2015

US Economic Data

Philly Fed -5.9, Exp. 1, Last 1.9

Initial jobless claims 271,000 Exp 276K

U.S. third quarter current account deficit largest since 2008

Bank of England

UK Traders Don’t Expect BOE Rate Increase Until 2017 After Fed’s Move

U.K. Real Estate

UK Bank of England governor will take action against Buy to Let Bubble

Gold

Hopes Dashed in Hunt for Nazi Gold Train

Treasury staffers find a gold nugget worth $3.7 MILLION in an old box they used as a wicket to play CRICKET in the office corridor

Silver

Algae can carry a silver lining

December 18, 2015

U.S. Economic Data

US Services PMI 53.7, Exp. 55.9, Last 56.1.

Congress passes $1.1 trillion spending bill

Gold

From Smaulgld.com

Russia broke its own annual record by adding 186 tonnes of gold to its reserves in 2015. Russia added 700,000 ounces of gold to reserves in November.

Russia added another 700,000 ounces (21.77 tonnes) of gold to its reserves in November.

Shanghai Gold Exchange Week 50

Volume continues to be heavy at the Shanghai gold Exchange.

That’s all folks-U.S. Mint closes for year

2015 Sales:

Silver Eagles 47,000,000

Gold 1oz Eagles 626,500

Total Gold Eagles (ounces including fractional sized gold eagle coins) 801,500

24K Gold Buffalo 220,500

Buy 2015 American Silver Eagle Coins

Buy 2015 American Silver Eagle Coins

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