Bank Participation Report Update

If it's to be taken seriously, the latest Bank Participation Report from the CFTC shows a completion of the full "wash and rinse" cycle from January. Does this set the stage for a renewed move higher in price? Not necessarily. However, the decks are finally clear should renewed buying interest in paper metal materialize in the weeks ahead.

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Great Video...From 37 Years Ago

Over the weekend, Sprott's Tekoa Da Silva sent me a link to a fascinating discussion recorded over 37 years ago. The two panelists were Dennis Karnosky of the St. Louis Fed and "money expert" Merrill Jenkins. This remarkably frank and informative program is certainly worth taking the time to review.

Price vs Moving Average

The new week begins where the prior week ended. By rigging prices back below their key moving averages, The Banks have managed to flip the Spec metal algos back into "sell-the-rally" mode while the POSX presses toward 100.

On with Dr. Janda

I had the honor of joining Dr. Janda on his radio program again yesterday for a wide-ranging discussion of current events.

TFMR Podcast - Friday, April 10

The week finishes with an UP day and a green candle. That's all well and good but what might the rest of the month have in store for us? C'mon in and let's get caught up.

A Couple of Positive Fundos

For once, some fundamentals are actually making a difference in the paper gold "market" this morning. Fine with me...I'll take it. Now the question becomes, can we eek out a technically-positive close by 1:30 pm?

TFMR Podcast - Thursday, April 9

As expected, the POSX rallied further today and this applied significant additional pressure to the metals. As the index reaches toward 100 and the highs of mid-March, will it double-top or extend even higher? If it does, what will this mean for gold and silver?

What A Disappointing Week

You're not alone if you're disappointed in how the metals have traded this week. After last Friday's BLSBS, I also thought that this week would be higher, at least up until the FOMC minutes release. Well, that clearly hasn't happened so it's time to take a cautious approach and try to anticipate just how far this current downturn may stretch.

TFMR Podcast - Wednesday, April 8

The dreaded FOMC minutes come and go and, despite some volatility, prices are about unchanged in the time since. So, what happens next? As per usual, it's all about that Pig and the yen.

JB and SFC Update

While the active military fighting is mostly paused under the Minsk Agreements, that does not mean that the diplomatic fighting has lessened. In fact, the diplomatic war threatens the fragile peace and, last night, John and Steve explained some of the consequences.

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