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Scottsdale Mint — Tether’s Gold Buying Nears $20 Billion Zerohedge — US Inflation Is Going to Keep Climbing Higher Yahoo — Scale Over Premium: Equinox's Orla Bid Signals New M&A Template for Gold Miners X.com — Beijing and the Barrel
Featured Analysis:
Bullion Bank: Central Banks Now Buying OTC Gold Under the Radar
One could say the Goldman Sachs report describes central banks increasingly buying gold “under the radar,” as sovereign purchases appear to be disappearing from traditional UK trade statistics even while London vault outflows continue rising. The bank’s revised methodology effectively argues that official-sector demand remains stronger than publicly visible data had suggested.
Goldman Sachs in a special weekend note1 believes central bank gold demand has remained materially stronger than previously estimated, even as publicly visible purchase data appeared to slow over the past year. In a precious metals note, Goldman Sachs analysts Lina Thomas and Daan Struyven revised the bank’s proprietary central bank nowcast higher after identifying what they describe as “missing sovereign flows” in London gold trade data.
News & Analysis:
Hartnett: Tale of 3 Bubbles- Early June for a Pop?
Hartnett says the US “boom loop” is accelerating as AI enthusiasm, rising stock wealth, and expectations of no Fed hikes push equities and commodities higher. But inflation is climbing toward dangerous territory, bond yields are rising, and weakening financials and tech credit suggest the same pressures that ended prior bubbles may be building again.
Coming Soon
Data on Deck: Fed Minutes
MONDAY, MAY 18 8:30 am Atlanta Fed First Vice President Cheryl Venable welcoming remarks
TUESDAY, MAY 19 Pending home sales April1.5%
WEDNESDAY, MAY 20 2:00 pm Minutes of Fed’s May FOMC meeting
THURSDAY, MAY 21 S&P flash U.S. PMI
FRIDAY, MAY 22 10:00 am Consumer sentiment
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Charts and Final Market Check:
MONDAY, MAY 188:30 amAtlanta Fed First Vice President Cheryl Venable welcoming remarks
TUESDAY, MAY 1910:00 amPending home salesApril1.5%7:00 pmPhiladelphia Fed President Anna Paulson speech7:45 pmAtlanta Fed First Vice President Cheryl Venable closing remarks
WEDNESDAY, MAY 202:00 pmMinutes of Fed’s May FOMC meeting
THURSDAY, MAY 218:30 amInitial jobless claimsMay 168:30 amHousing startsApril1.50 million8:30 amBuilding permitsApril1.37 million8:30 amPhiladelphia Fed manufacturing surveyMay26.79:45 amS&P flash U.S. services PMIMay51.09:45 amS&P flash U.S. manufacturing PMIMay54.5
FRIDAY, MAY 2210:00 amConsumer sentiment (final)May49.210:00 amU.S. leading economic indicatorsApril-0.6%
