Brexit Gold Buying – UK Demand for Gold Bars Surges 39%

– UK investors buy gold bars as demand surges 39% in 2016 – Brexit Day sees Article 50 triggered and pound weakens – “Brexit nerves” see “Brits hoard gold” reports WSJ – End of 44 year relationship with closest economic partner – May sets Brexit clock ticking in letter to Tusk
The Market Oracle

Mansa Musa, Gold, And Inflation

From Wikipedia… Musa Keita I (c. 1280 – c. 1337) was the tenth Mansa, which translates as           “sultan” (king) or “emperor”, of the wealthy West African Mali Empire.  During his reign Mali may have been the largest producer of gold in the world at a point of exceptional demand. One of the richest people in history, he is known to have been enormously wealthy; reported as being inconceivably rich by contemporaries, “There’s really no way to put an accurate number on his wealth” (Davidson 2015). 
The Market Oracle

Clad Boys Town coins show strength

If you are a commemorative coin buyer, what is the best deal among the Boys Town offerings?

The clad halves?

The silver dollars?

The gold $ 5s?

Many collectors would consider something made of precious metal to be a better buy when compared to something made of copper-nickel clad.

However, in terms of numbers sold, the clad half dollars in this program are doing quite well.

There are 11,944 individual proof halves that have been sold and 11,804 of the uncirculated coins.

Those numbers are astounding insofar as proofs usually outsell uncirculateds by 2 or 3 to one.

So far, this regular pattern is not playing out with the clad halves.

Is it the price?

Proofs are $ 21.95 each while the uncirculated halves are $ 20.95.

The difference between the two you would think is not large enough to steer buyers to the uncirculated piece.

If we add the proof half dollars in the three-coin proof set to the overall proof total we arrive at a figure of 15,825.

This makes the sales ratio 1.34 proof halves sold for every uncirculated.

It is still a far cry from 2 or 3 to one.

The proof set is the critical factor that puts the ratios in traditional bounds for the silver dollar and the gold $ 5.

When you add in the 3,881 proof set number to the individual proof dollar number, you get 17,746 compared to 6,830 uncirculateds, a comfortable 2.6 to 1.

For gold it is 4,898 proofs to 1,351 uncirculateds, which is 3.6 to 1.

It is early days yet in a program that will run until the end of the year.

The proof to uncirculated ratio for half dollars can easily move to more familiar territory in the months of sales to come.

However, for the moment, buyers of uncirculated clad half dollars have skewed the traditional sales ratio.

They have also created sales numbers that imply that they view the uncirculated half dollar to be a better buy than the uncirculated silver dollar, 11,804 to 6,830.

These numbers are a puzzler.

Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper “Numismatic News.”

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U.S. Mint Continues to Surprise with 2017-S American Silver Eagle in New Congratulations Set

By CoinWeek News Staff …… Earlier in the week, PCGS tipped off CoinWeek regarding the U.S. Mint’s latest surprise release – the 2017-S American Silver Eagle Proof Coin, available in the upcoming 2017 Congratulations Set, available April 4. A Mint press release later confirmed the information we received Monday. While this is not the first time […]

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Stock Market Mixed Session

The stock market indices had a solid session for tech stocks, but not so for biotech’s. The indices were mixed at the closed with the Dow down all day. Net on the day, the Dow was down 42.18 at 20,659.32. The S&P 500 was up 2.56 at 2361.13, just a couple points off the high and 9 points off the low. The Nasdaq 100 was up 23.06 at 5430.27, 3 points off the high and 25 points off its low.
The Market Oracle

Bitcoin Price Rises Higher Than Gold… But Its Value Is a Different Story

Since hitting a record-low of $ 177 in January 2015, Bitcoin is up almost 600%. On March 2, 2017, it reached a new high of $ 1,268 per unit—thus surpassing the price of an ounce of gold for the first time ever. So, what’s the driving force behind this parabolic rise?
The Market Oracle

Gold coins: The Vienna Philharmonic

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Did the Stock Market Top for the First Half of 2017 Just Hit?

The top for the first half of 2017 probably just hit. Markets do not react to what everyone knows. Markets react to surprises. And the surprise today is that the Trump administration will not be able to implement rapid reform. Since election night, the stock market has assumed that President Trump would somehow repeal Obamacare, reform the tax code, and announce a massive infrastructure project almost immediately.
The Market Oracle

FDRs Letter to the Democratic Convention Delegates in 1940

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John McCain’s New World Order Is Under “Enormous Strain”

Decades ago, John McCain was in Asia trying to kill people he didn’t know while living off the largess of money (taxes) stolen from hard working people in the US. In any other reality but our current one he’d be considered a thieving mass murderer. Unfortunately, in our current reality, some people call him a “war hero”.
The Market Oracle

The Transformation Of Our Nation Into A Complete Surveillance State Is Almost In Place: “You’re Known, Your Vehicle Is Known, Your Daily Itinerary, Shopping Habits… It’s All Being Recorded”

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Charts That Reveal US Real Employment Status and It’s Not Good

The “labor force” from which we get unemployment statistics includes only those people who are either working or wish to be working. It ignores the retired, those in school, the disabled, and nonworking spouses—as well as those who are not interested in working.
The Market Oracle

The Last G-20 Meeting Marks the End of Free Trade

BY GEORGE FRIEDMAN : In the last G-20 meeting, its members agreed to drop the forum’s commitment to free trade at the insistence of the United States. That agreement was reached at one meeting and was contained in a single document—such agreements and documents are far from written in stone. In spite of that, it must be regarded as a historical moment. Excluding the free trade commitment from the agreement marks a fundamental shift in a concept that has been central to global economics for more than a generation.
The Market Oracle

The Value of Debt

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Critical Fibonacci Extensions May Mark End Of Trump Stock Market Rally

Our research is showing critical Fibonacci extensions are in place for US Major Markets that may be foretelling of a massive market correction.  Part of our research is to search for and study events and resources that are a bit abstract.  One component of this research is to identify critical price levels and early warning triggers from abstract price data.  The major US indexes and most individual all showing price advanced over the past years and many are showing extended price rallies since the US Presidential election on November 8, 2017.  Yet, none are as foretelling as our “US Custom Index”.
The Market Oracle

SPX Forms a Triangle

SPX is having an “inside day.” The most likely formation appears to be the Triangle. It is “buying time” and is not likely to be complete until the close of the day or early tomorrow. It appears to be finishing Wave (d) now and Wave (e) is likely to decline to the Broadening Wedge trendline at 2355.00. Using the Triangle formula, SPX is likely to make a final surge from the trendline to 2365.00. The hourly mid-Cycle resistance is at 2364.48 and the 61.8% retracement is at 2364.13. This cluster of resistance may be pretty formidable, but act as attractors until its time.
The Market Oracle

Ending Syria’s Nightmare will Take Pressure From Below

Ominous developments in East Syria have drawn the United States and Russia into closer proximity increasing the likelihood of a violent confrontation.  The Trump administration has embarked on a dangerous plan to defeat the terrorist militia, ISIS, in Raqqa. But recent comments by US Secretary of State Rex Tillerson suggest that Washington’s long-term strategy may conflict with Moscow’s goal of restoring Syria’s sovereign borders.  Something’s got to give. Either Russia ceases its clearing operations in east Syria or Washington agrees to withdraw its US-backed forces when the battle is over. If neither side gives ground, there’s going to be a collision between the two nuclear-armed adversaries.
The Market Oracle

Everybody loves an Early Inflation

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Ominous Social Trends That Will Shape Our Future

We’ve touched on this before, but there’s a strong sense in much of the developed world that we’re headed for harder times. Deficits increase. Unemployment rises. The benefits of the future have been unevenly distributed throughout society. It is not just in voting patterns that you can sense malaise. You can see it in the economic numbers and in sociological research.
The Market Oracle

Cheaper proof set ready for release

What does it mean for collectors to have no Presidential dollars for the first time since 2006?

For starters, they will get a cheaper proof set.

The clad and base metal group of proof coins has dropped in price by $ 5 to $ 26.95.

It goes on sale at noon Eastern Daylight Time today.

Last year’s set had the final three Presidential dollars in it.

The cost then was $ 31.95.

So I guess that means collectors who want this year’s set in a way get a $ 2 tip.

Face value is reduced by $ 3, the price by $ 5.

Will this new price be viewed as more reasonable?

Will the many collectors who have fallen away start buying this annual set again?

The Mint hopes so.

There is one proof dollar coin remaining in the set.

It is the Native American design. Sacagawea is on obverse, where she has been since the year 2000.

On the reverse of this dollar coin is a design showing Sequoyah writing “Sequoyah from Cherokee Nation” in syllabary along the border of the design.

He is the scholar who gave his people a written language.

Five coins in the set are this year’s America the Beautiful quarter designs.

Only 2017’s first quarter design, for Iowa’s Effigy Mounds National Monument, is in circulation.

Acquiring this proof set is one way of getting ahold of the other designs early.

The remaining coins in the set are the cent, nickel, dime and half dollar.

Loyal buyers of proof sets often are motivated by the need to keep their ongoing sets current.

That doesn’t mean they need all the coins in the proof set, but they might need a proof Lincoln or proof Jefferson that is available in no other way.

With so much choice available in other consumer fields, perhaps the time has come for the Mint to offer each proof coin individually.

Collectors can already buy the five quarters in a separate set.

Even selling the other five coins as a set might not be a bad idea. They are already packaged together.

Is there a potential demand for just the proof dollar, half dollar, dime, nickel and cent in a  standard plastic holder? The Mint should find out.

Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper “Numismatic News.”

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US Secretary of State Just Showed China Matters More Than NATO

BY GEORGE FRIEDMAN : US Secretary of State Rex Tillerson will attend a meeting between Chinese President Xi Jinping and US President Donald Trump April 6–7. Tillerson will skip an April 5–6 meeting of NATO foreign ministers. This is the first time a US secretary of state will miss such a meeting since 2002.
The Market Oracle

What A Westinghouse Bankruptcy Could Mean For U.S. Utilities

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Brexit: The Chaotic Divorce Saga Continues

"It will be a formidable challenge for Britain’s next prime minister to make an economic, diplomatic and political success out of Brexit. Or, to set the bar at a more realistic level, to contain the damage." –  Andrew Rawnsley Much has been, and continues to be written in the press about Great Britain and her extraction from the European Union (EU), and by the looks of things, it is turning out to be a very messy divorce. The bad news is that Theresa May, the British Prime Minister, has not triggered Article 50. For the uninformed and confused among us, Article 50 is the formal notice that the UK needs to give the EU that she intends to withdraw from the European Union.
The Market Oracle

Gold, Interest, Basis

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Savers Maximise the Personal Savings Allowance for Bigger Returns

As a new tax year approaches, savers may well be readying their cash to invest in a new ISA, but the latest research by Moneyfacts.co.uk reveals why savers should still consider maximising their Personal Savings Allowance (PSA) for bigger returns. Since April 2016, savers have been given an individual Personal Savings Allowance to earn a portion of savings income or interest tax-free, with basic rate (20%) tax payers given a £1,000 allowance and higher rate (40%) taxpayers getting £500. This momentous change means that now most taxpayers (estimated at 95%) no longer pay tax on their savings interest.
The Market Oracle

Digital Silver and Digital Gold Climbing – Rory Hall

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SNP Controlled Scottish Parliament Demands Right for Scotland to Commit Suicide – Indyref2

As Britain counts down to triggering Article 50 later today the SNP fired another missile at Westminister Tuesday in their continuing program towards the subversion of the settled BrExit will of the British people by voting to demand that another Scottish Independence referendum be held before the BrExit negotiations are finalised with the EU. This despite the fact that in the run up to Scotland’s September 2014 Independence Referendum the Scottish Nationalists from Alex Salmond and Nichola Sturgeon down promised that they would abide by the results of the referendum, declaring that it was at least a once in a generation decision if not once in a life time decision.
The Market Oracle

SPX Challenging its Cup with Handle Trigger Point

SPX has completed a double zigzag from yesterday’s low. The rally has retraced 48.5% of the decline from 2390.01. It may have one zigzag left to finish a 50% retracement to 2356.13 or thereabouts. However the decline from 2390.01 and its retracement have gone exactly 60 hours, or 4.3 days at the 12:00 pm high. In other words, it may be complete, or nearly so at this time.
The Market Oracle

Warning: Three Major Stock Market Bellwethers Are on Red Alert

As we have repeatedly warned since mid-December, the “Trump trade” was based on hype. This is not to say that President Trump will not succeed in generating economic growth… it IS to say that whatever growth is coming will do so in 2018 as opposed to the GDP growth of 5% that the market seemed to believe would be hitting in early 2017.
The Market Oracle

How to Store Silver at Home

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