The end of the Great Keynesian Experiment is upon us. Turd Ferguson and his band of loyal Turdites patrol this Watchtower. We are here to help each other navigate the coming economic chaos. However, no one can predict every eventuality, so please read the disclaimer and community guidelines before proceeding.

Full Perspective

Weakness in the euro and the yen has led to dollar strength and further decline in the metals today. Now that the key levels we've been watching for support have been broken, it's time to take stock of where we are and perhaps prepare for additional weakness as the June gold contract comes off the board.

TFMR Podcast - Monday, May 23

Prices begin the week edging lower but, as we all know, it's not where you begin the week that matters. To that end, there's a lot of volatility to come with June gold expirations pending as well as a number of key economic datapoints.

GoonSpeak, HFT and Fundamentals

So what really matters? What drives the paper derivative gold price? Is it Fed policy? Is it changes to the relative value of the US dollar? How about the whims of the HFT algos? Whatever it is, price certainly isn't affected by such arcane notions as physical demand fundamentals. That much we know for certain.

It's a long hard journey ...

Aaaahhh, the life of a farmer …  filled with healthy food, baby animals, fun for the kids, beautiful land, lying back in a field, hands folded behind my head, watching clouds while chewing on an grass stem... and… a whole lot of hard work, government meddling, spring storms that kill blossoms, pests, drought, skunks running amok in the garden, zombies, and did I mention hard work?

TFMR Podcast - Friday, May 20

It was a long week but, in the grand scheme of things, it could have been a lot worse. As you consider the current landscape, keep in mind that gold is still up over 2% in the past four weeks while the HUI is up 8%. Even after the downdrafts of the past 48 hours, that's not too shabby.

Back To Business As Usual

After two days of downside volatility, it's back to business as usual today. The London Monkeys stood down overnight so, as you have come to expect, The Banks on the Comex soon took over and slammed price backward. It is what it is in the new, post-April 19 normal.

A2A with Steve St. Angelo of the SRSrocco Report

With paper metal prices lower today, what better time to have Steve St. Angelo back for an A2A. Straight physical demand will one day serve to end the paper games and Steve is one of the best physical supply/demand analysts on the internet.

Hot Money Heads For The Exits

Just two days ago, we wrote about the "epic battle" where The Banks were once again throwing huge amounts of open interest at The Specs in another attempt to cap and turn price. What you're seeing today is the success of that plan as once again the hot Spec money is all heading to the exits at the same time.

TFMR Podcast - Wednesday, May 18

Today's FOMC minutes seemed to portray a far different tone that the "fedlines" which were released immediately following the meeting three weeks ago. The resulting spike in the dollar has led to a significant selloff in the metals and now we'll just have to wait to see if dip buying emerges once again.

Ahead Of The Minutes

It's all fun, games and HFT shenanigans today until 2:00 pm EDT when the April FOMC minutes are released. Once these notes are public, we should quickly know whether or not yesterday's chart analysis will prove to be correct.

Syndicate contentTF Metals Report Front Page RSS Feed