Gold: Gold opened this week at $1290.87 USD and declined steadily until late in the week. Gold rallied to close at $1286.48 USD (0.4% decrease).
Silver: Silver opened this week at $18.57 USD and then steadily declined to close at $17.93 USD (3.4% decrease).
Platinum: Platinum opened this week at $975.00 USD, and then had a slightly stochastic week to close at $975.60 USD for a zero net change.
Palladium: Palladium opened this week at $796.50 USD, and like platinum moved stochastically sideways. Palladium closed at $793.75 USD (0.4% decrease).
On the tail of Brexit (albeit a long tail), many in the European Union would like to return to their national currencies.
Perth Mint’s bullion sales were split in the month of March. Silver sales increased while gold decreased.
A large cache of gold coins was discovered in a piano that was donated to a community college.
Housing Starts (April 18, 8:30 AM ET): This index reports the number construction projects for new residences and permits for new residences. The housing sector is a foundational sector for the US economy, and the Housing Starts Report offers a myopic view of this complicated economic sector. Experts predicted 1.262 million housing starts within the first quarter, but the report returned a meager 1.215 million. The report also showed, however, that ten thousand more permits were filed than predicted.
Industrial Production (April 18, 9:15 AM ET): The Industrial Production Report was no real surprise to investors, showing moderate gains in production, an unexpected loss in manufacturing, and 76.1% utilization rate.
EIA Petroleum Status Report (April 19, 10:30 AM ET): The EIA Petroleum Status Report continues its enigmatic trend. Last week’s reports posted losses in crude, gasoline, and distillates. This week showed further losses in crude and distillates inventories, and gains in gasoline, which was appreciated at the pump.
Jobless Claims (April 20, 8:30 AM ET): Some of the strongest indicators of economic expansion have recently come from the labor market. Recent reports have shown increases in jobs and fewer claims for unemployment, suggesting that employers have greater confidence in the US economy. While there were slightly more claims for unemployment benefits filed than expected, this report shows a continued week-over-week decrease in the number of claims.
Existing Home Sales (April 21, 10:00 AM ET): This report showed higher than expected home sales, which is great news for realtors, and is a good commentary on the state of the economy.
The following reports will be released during the week of April 24, 2017, and each has the potential to significantly impact the state of the economy:
- New Home Sales (April 25, 10:00 AM ET)
- EIA Petroleum Status Report (April 26, 10:30 AM ET)
- Durable Goods Orders (April 27, 8:30 AM ET)
- International Trade in Goods (April 27, 8:30 AM ET)
- GDP (April 28, 8:30 AM ET)