Improving

We've had a very nice rally this morning, one that is extending as I type. Of course, this is very encouraging and gold, in fact, is building a very nice "stair" accumulation pattern on the shorter-term charts.

Everything looks positive as $85B/month of QE is confirmed for the foreseeable future. To that end, the metals appear to be coiling for a breakout move here. They look to be ready to extend toward the current downtrend lines that extend back toward the highs of early October last year. As you know, I've been calling for such a move for about the past 10 days and it's looking increasingly likely. For now, though, there are two key questions:

  1. Will this happen? As stated all week, these gains are nice but nothing of significance will have occurred until gold break $1626 and silver trades through $29.40. Will they do so soon? I think so but we'll see.
  2. What happens when the metals encounter those down trendlines? Will they roll over again as they did in November, January and February OR will they burst through and begin to establish some new, UP trendlines?
For now, getting back to question #1, can the metals break out of their recent ranges? Amazingly, silver has now spent 4 weeks between 28.40 and 29.40!
 
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Have a great day. I hope to get things back to "normal" at TFMR very soon.
TF
 
12:30 pm EDT UPDATE:
Obviously, the site is back up...for now. We will be making some decisions later today regarding our current servers and other issues. I'll keep you posted through this site (if it's up) or through the blogspot site http://tfmetalsreport.blogspot.com/
Silver and gold continue to struggle at these levels, as you can see below. Will silver simply fall back under $29 again tomorrow, as it did back on the 12th? Probably but let's not give up hope just yet.
TF

280 Comments

Fr. Bill's picture

Finally, First!

In spite of the .... well, you know ...

Fr. Bill's picture

And a glitch is worth ...

Second! Sometimes a cloud has a teensie silver lining anyway.

Silver Alert's picture

Troika

Oops, probably should have said Thurd.  I now have collected two thurds in my quest to collect all ten positions.  I'm willing to sell the extra one.  All proceeds will go to bailing out Cypress.

billhilly's picture

Amazing work and effort

Thanks Turd and Staff for all the energies you guys, and ladies, put into this site for our benefit.  You are truly amazing !!!!!!!!!!!

monkry's picture

Bit off topic

Am I the only one refreshing this site, silver doctors, and santa's site hoping to catch a glimpse of what yeterday's meeting  brought about?

The suspense is killing me.

Save_America1st's picture

I'm in!!!

Count me in...

Thanks for all yours and your tech team's hard work Turd!  We still like using the old library though if problems persist.  It's great to have as a backup. 

Hrunner's picture

Top Ten! (Plus Barclays)

Barclays talking down the yellow stuff- bullish for sure!

Mr. Fix's picture

Well, I'll try this one more time.

Seems like every time I press  “save”, the site goes off-line.

Glad there's a backup.

ZILVERMAN's picture

i was

first to give turd a hattip.

Turd Ferguson's picture

This simply cannot be a serious proposal

MODERATOR

A 40% penalty for all accounts over 100,000 euro? Looks more and more like an intentional move to cause some sort of spillover effect. What could that be, though?

http://www.zerohedge.com/news/2013-03-21/eu-weighs-40-haircut-uninsured-cypriot-deposits-bad-bank-plan

The Watchman's picture

US Mint UPDATE-88,500 more ASE's Sold

2013 Silver Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
January 7,498,000
7,498,000
February 3,368,500
3,368,500
March 2,438,000
2,438,000
Total 13,304,500
13,304,500
hammerman's picture

40% haircut

for all you guys who been whining they gonna bail on the metals cause they are not moonshotting right now.... and you know who you are..... (bobbay!!)  ( lizard lick)  just ask yourself.... self can you afford a 40% haircut?    now shut the xxok! up and act like you been here before.... good day...

Byzantium's picture

@ Turd

Assuming that the Russian depositors include current government officials, maybe it is a threat/reprimand for obstructing US ambitions in Syria.

That of course would not be the only purpose, as they have also mortally wounded confidence in the global banking system, and intentionally so.

Xty's picture

and I was

2nd

mrneutron's picture

I've never seen this before. Silver capping at a high?

Road_Scholar's picture

Euro- haircut coming to bank bond holders/depositors

1st in Cypress, then Spain, Italy, Greece.  Troika will need to "print, print, print" Euros or the derivative time bomb fuse gets lit and blows up ALL banks as they're daisy chained together.

torres-mullet-1.jpeg

Euro-mullets for all those clowns!

The Watchman's picture

Options Expire for Gold and Silver Monday 25th

wild-monkey_650x366.jpg

Watch out for attacking Monkeys.

Heart's Yours's picture

Don't to forget to Feed the Turd

During times like this when this incredible site is under attack, things get more expensive.  So please do your part and remember to "feed the Turd".  I have a little "donation" that is on autopay each and every month to do my small part to keep this wonderful resource accessible.  Keep stacking.  If you don't hold the metal in YOUR possession, it is not yours.  Thanks Turd for all you do. 

hammerman's picture

russians be hammering fingers off

now there are 2 ways to do this...... 1)  smash smash smash  now its not that clean of a cut.. but it is a cut....        2)   turn claw downward.....  good aim required     nice clean cut  though.....

put ur twinkies up you congress rats.....

The Watchman's picture

New Cyprus Haircut?

11427_Crazy_Hair_Style_NiceFun_724_1.jpg

Bollocks's picture

Server been under heavy load again?

I suggest anyone not called Bollocks is banned from here. That'll fix it.

billhilly's picture

hammerman...

are you giving us a small glimpse of your true identity?

Bollocks's picture

Turd

Hate to add another thing to the list of fixes, but the image re-sizer has stopped working frown.

¤'s picture

Merkel

Looking forward...her re-election isn't guaranteed unless she starts talking about the Mark in a serious way. I don't think she'll have a choice.

Can England be far behind from exiting the Euro door so that the Pound can strengthen upon the euro crumbling?

At this stage Greece should enter the picture soon enough if Cyprus is on the cusp of default.

Thanks to all who took part in Jerry's telethon :-)

Keep it goin'. yes

Sad-descent's picture

Re: Proposal

I really get the feeling that they are at a complete loss as to what to do.  If the Spaniards and Italians aren't cleaning out their accounts they are nuts.

billhilly's picture

bollocks

That train must have some heavy duty wiper blades....heck, I can't even see the engineer.

and, if we were to all take your advice, you would only have yourself left here to play with.  wink

Swineflogger's picture

Wah Hoo! Twenty Sixth!

wink

Fr. Bill's picture

Gold Is Going To Tank To $1,375 This Year

From http://www.businessinsider.com/socgen-gold-is-going-to-1375-2013-3

"SocGen analysts Alain Bokobza and Roland Kaloyan think "The Gold Rush Is Over".

"Gold is well off it's 52-week high of $1,802. And the analysts expects gold to fall 15 percent from its spot price to $1,375 per ounce by year end. This is more bearish than the consensus view which is 30 percent above SocGen's, with a forecast of $1,750 per ounce.

"In a report published earlier this year, the analysts wrote that they expect gold prices to fall for four key reasons."

Reasons:

1. Stronger U.S. dollar 
 
2. Higher real interest rates 
 
3. Outflows from precious metal Exchange traded products
 
4. Hedge funds are reducing their net long positions
 
THE SKY IS FALLING!! THE SKY IS FALLING!!
Bollocks's picture

Cyprus

A BBC News report right now showed a clip where they interviewed the owner of a petrol station, who is now selling petrol for cash only.

As he was being interviewed he got a a call from his petrol supplier saying that he will only make the next delivery if he's paid for it in cash - asking for 40,000 euros.

Well, things certainly are hotting up. I think we can be certain there will be a massive bank run when the banks do eventually open.

(and those poor cypriots will walk home with bags of printed paper. ouch)

SteveW's picture

Byzantium: Coin premiums

I'm fairly certain that vbce.ca has always paid spot for maples. While gold is currently spot they are paying spot + $1 for silver and going with a $1.50 spread (selling spot + $2.50).

Of course if you buy with CAD$ they also make a sliver on exchange.

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