Silver price recap: Silver opened this week at $16.43 and moved laterally until mid week. Silver then increased in value to close at $17.34 (5.3% above the opening price).
Gold price recap: Gold opened this week at $1244.70, and like silver, moved laterally until mid week. Gold then increased to close at $1274.05, 2.4% above the opening price.
Platinum price recap: Platinum opened at $984.50 increased to peak at $1019.87 mid week. Platinum then dropped to close at $992.50 (0.9% above the opening price).
Palladium price recap: Palladium opened this week at $554.00, and then moved laterally to the end of the week. Palladium then dropped to close at $545.00, 1.7% below the opening price.
Scientists have found a way to incorporate silver atoms into zeolites (large, porous particles), which may be used in light emitting diodes, or in biological imaging to identify cancerous tumors.
The British Royal Mint will offer investors the opportunity to include gold bars in their pensions; the British Royal Mint will store this gold bullion.
As the fear of rate hikes by the Fed have lessened, and as the dollar has weakened, the price of gold reached a 3-week high.
Silver has been out performing expectations, indeed to-date, the value of silver has increased 25%.
EIA Petroleum Status Report (June 8, 10:30 am ET): The EIA Petroleum Status Report measures the inventories of crude oil, gasoline, and distillates, and offers insight into the health of the economy and consumer behavior. Crude oil inventories fell again this week (-3.2 million barrels), while the gasoline and distillates inventories increased (1 million barrels, and 1.8 million barrels respectively).
Jobless Claims (June 9, 8:30 am ET): The Jobless Claims Report measures the number of claims files for unemployment benefits each week, and offers insight into the health of the US economy.
Retail Sales (June 14, 8:30 am ET): This is a measures of the total receipts at stores that sell goods to end consumers. The previous report showed a significant surge in retail sales by 1.3%. It is expected that this report will show an increase of 0.3%.
PPI-FD (June 15, 8:30 am ET): Producer Price Index of the Bureau of Labor Statistics is a suite of statistics that measures the change over time in the prices received by producers of goods and services in the United States. This is a unique measure of the domestic and foreign demand. The previous report showed an increase in the index of 0.2%. It is expected that the index will increase 0.3%.
Petroleum Status Report (June 14, 10:30 am ET): This report measures the US inventories of crude oil, gasoline, and distillates, and provides insight into the US economic momentum.
FOMC Meeting Announcement, Forecasts, and Press Conference (June 15, 2:00 pm ET): The Federal Open Markets Committee is the policy-making arm of the Federal Reserve. There have been rumors that, given the strength of the US Economy, the FOMC will determine to increase interest rates.
Consumer Price Index (June 16, 8:30 am ET): The Consumer Price Index is a measure of the change in the average price level of a fixed basket of goods and services, and provides some insight into the economic strength of the US. It is expected that the consumer price index will increase to 0.3%.
Jobless Claims (June 16, 8:30 am ET): This is a report of the number of first-time claims for unemployment benefits. It is predicted that jobless claims will increase to 270 thousand.
Philadelphia Fed Business Outlook Survey (June 16, 8:30 am ET): This an index for the manufacturing sector of the Philadelphia Federal Reserve District, that offers insight into broad manufacturing trends and industrial production. The previous report showed a drop of 1.8 in the index, but the consensus report suggests an increase of 0.8 in the upcoming report.
Housing Starts (June 17, 8:30 am ET): This a report that measures the number of construction projects that begin in the survey period for structures primarily to be used as residential buildings. The previous report showed 1.172 million starts, and the consensus us 1.15 million in the upcoming report.
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