Weekly Provident Report: December 5 – December 9

Silver price recap: Silver began the week at $16.98 and experienced minimal volatility in the early week. By midweek, however, a sharp spike brought an increase in prices. A small Friday decline ended silver at $16.86 (0.8% decrease).

Gold price recap: Gold opened at $1185.91 and experienced significant early week movement, though the volatility lessened throughout the week. Before the markets closed, a sharp decline closed gold for a loss at $1157.86 (2.4% decrease).

Platinum price recap: Platinum began the week sub $1000, once again, at $938.40. A high level of movement occurred throughout the week, but like the other precious metals, a late week decline closed platinum for a loss at $915.00 (2.5% decrease).

Palladium price recap: Palladium opened at $746.50 and prices fluctuated greatly. Again, the Friday market decline affected palladium and closed the precious metal at $730.00 (2.3% decrease).

Silver spot price chartMarket News

According to economists, gold prices will continue their slump throughout Q4 and early 2017 due to a strong American economy and the likelihood of increased interest rates.

Deutsche Bank provides plaintiffs evidence of many more players in the silver rigging scheme, including UBS Group AG, HSBC Holdings Plc, Bank of Nova Scotia and more.

Platinum and palladium futures for early 2017 deliveries have also dropped, in addition to gold and silver.

Market Reports

International Trade (December 6, 8:30 am ET):  The International Trade report measures changes in imports, exports, and the balance between the two. Reports indicated a loss of $42.6 B.

EIA Petroleum Status Report (December 7, 10:30 am ET):  The EIA Petroleum Status Report measures oil, gasoline, and distillates inventory levels held by the U.S. domestically and abroad. Gasoline and distillates inventories are up 3.4 M and 2.5 M barrels, respectively. Crude oil inventory levels were down 2.4 M barrels. 

Jobless Claims (December 8, 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. Consensus predicted 255 K new claims for the upcoming report, 258 K new claims were reported. 

Upcoming Market Reports

PPI-FD (December 14, 8:30 am ET): Producer Price Index of the Bureau of Labor Statistics indicates the change in prices received by producers and sellers of goods and services, domestically.  Predictions estimate a 0.2% increase.

Retail Sales (December 14, 8:30 am ET): The Retail Sales report measures receipt totals for consumer merchandise and services. This report is significant, as the total accounts for roughly 2/3 GDP. Consensus forecast a 0.4% increase.

Industrial Production (December 14, 9:15 am ET): The Industrial Production Report measures the production of industrial goods from sources like mines, electric utilities, and factories. Production is predicted to decrease 0.2%.

EIA Petroleum Status Report (December 14, 10:30 am ET):  The EIA Petroleum Status Report measures oil, gasoline, and distillates inventory levels held by the U.S. domestically and abroad.

FOMC Meeting Announcement, Forecasts, and Press Conference (December 14, 2:00 pm ET): The Federal Open Markets Committee is the policy-making arm of the Federal Reserve. It is very likely that, given the strength of the US Economy, the FOMC will increase interest rates.

Consumer Price Index (December 15, 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 0.2%.

Jobless Claims (December 15, 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. Consensus predicts 255 K new claims for the upcoming report.

Philadelphia Fed Business Outlook Survey (December 15, 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.  Consensus predicts a General Business Conditions Index-Level of 10. 

Housing Starts (December 16, 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 consensus forecasts 1.230 million in the upcoming report.2016 Canadian Silver Maple Bigfoot Privy

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