TF Metals Report

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.

Another BLSBS Week

Monday, March 1, 2021 - 10:28am

By TF

Beer with TF - February 2021

Please join us for our monthly Happy Hour.

No Rest For The Weary

Friday, February 26, 2021 - 10:45am

By TF

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TFMR Podcast - Thursday, February 25

Thu, Feb 25, 2021 - 5:37pm

Comex Gold Sleeps With The Fishes

Thu, Feb 25, 2021 - 10:56am

By TF

TFMR Podcast - Wednesday, February 24

Wed, Feb 24, 2021 - 5:41pm

TFMR Podcast - Wednesday, February 17

Wednesday, February 17, 2021 - 6:25pm

It was another difficult day for Comex gold as the FOMC minutes came and went without any important headlines or changes. However, there are some hints that this latest stab at the support November support levels may be leading to a final low for this consolidation so please be sure to listen...

No More Disinflation Expectations

Wednesday, February 17, 2021 - 10:58am

By TF

At his Jackson Holedown speech last summer, Chief Goon Powell expressed his deep concern regarding the vicious cycle of "disinflation and disinflationary expectations". He's probably not too concerned this morning.

As discussed yesterday, today was scheduled to be a major economic data...

TFMR Podcast - Tuesday, February 16

Tuesday, February 16, 2021 - 5:20pm

Trading resumes after a three-day US market holiday and Comex gold gets taken to PoundTown again. And why? Another major selloff in US treasuries has sent the yield on the benchmark 10-year note soaring to over 1.30%. Expect even higher rates to come before The Fed puts and end to the selling...

The Beatings Continue

Tuesday, February 16, 2021 - 10:48am

By TF

The week begins with a smash that is being blamed on rising interest rates. However, the yield of the 10-year note rose to 1.25% immediately after the Globex reopened last evening and it didn't seem to bother the "metals" at all. Hmmm. So what's really going on here?

Could it be that...

TFMR Podcast - Saturday, February 13

Saturday, February 13, 2021 - 12:28pm

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It's finally time to wrap up the week and then enjoy a three-day US market holiday weekend.

It was a long week but it actually turned out green with Comex gold registering a $10 gain wile Comex silver advanced 32¢. And now, with some interesting events looming next week and in the...

Thursday (Friday) Conversation - David Jensen

Friday, February 12, 2021 - 1:00pm

With TF

The #SilverSqueeze movement has been rolling for a couple of weeks now and it has certainly been interesting to watch. However, for it to have a long-term impact, we must continue to draw physical metal away from the Bullion Banks and force a de-leveraging of the fractional reserve pricing...

The Daily Grind

Friday, February 12, 2021 - 10:40am

By TF

It has been a long, strange week and it finally draws to a close today with the prospect of a green candle...at least in Comex Digital Silver. Comex gold, on the other hand, continues to be pounded lower on higher nominal interest rates and a bouncing POSX.

The idea I mentioned toward...

TFMR Podcast - Thursday, February 11

Thursday, February 11, 2021 - 4:55pm

Another day of blatant price manipulation as Comex gold is rigged downward and away from its "bull flag" trendline for what seems like the 50th time. But don't worry. The co-conspirators at the CFTC are on the case and they're certain to catch and fine those dastardly Banks Reddit traders...

Happy New Year?

Thursday, February 11, 2021 - 10:55am

By TF

It has been an unusually quiet week with barely any news or events to drive the "markets". That will soon change, of course, so I suppose we should enjoy the mental break from all the volatility we've seen as of late.

The only economic datapoint today was the initial jobless claims...

TFMR Podcast - Wednesday, February 10

Wednesday, February 10, 2021 - 5:59pm

It was another non-event sort of day as both the CPU and CGP failed to illicit any excitement out of the Comex precious metals. But that's alright. After the craziness of the past few weeks, a little down time can be beneficial.

So, for today, just a general discussion of the day's...

Key Economic Events Week of 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
2/25 10:30 ET Goon Bullard
2/26 8:30 ET Pers Inc and Spending
2/26 8:30 ET Core inflation
2/26 9:45 ET Chicago PMI
2/26 10:00 ET UMich sentiment

Key Economic Events Week of 2/15

2/17 8:30 ET Retail Sales
2/17 8:30 ET PPI
2/17 9:15 ET Cap Ute and Ind Prod
2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs

Key Economic Events Week of 2/8

2/8 12:00 ET Goon Mester speech
2/9 10:00 ET JOLTS job openings
2/10 8:30 ET CPI
2/10 10:00 ET Wholesale Inventories
2/10 2:00 ET Chief Goon Powell speech
2/11 8:30 ET Initial jobless claims
2/12 10:00 ET Consumer sentiment

Key Economic Events Week of 2/1

2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu PMI
2/3 8:15 ET ADP employment report
2/3 9:45 ET Markit service PMI
2/3 10:00 ET ISM service PMI
2/4 8:30 ET Productivity & Unit Labor Costs
2/4 10:00 ET Factory orders
2/5 8:30 ET BLSBS

Key Economic Events Week of 1/25

1/26 10:00 ET Consumer Confidence
1/26 1:30 ET Comex option expiration
1/27 8:30 ET Durable Goods
1/27 2:00 ET FOMC Fedlines
1/27 2:30 ET Chief Goon Powell presser
1/28 8:30 ET Q4 GDP first guess
1/29 8:30 ET Personal Income and Spending
1/29 9:45 ET Chicago PMI

Key Economic Events Week of 1/18

1/19 10:00 ET Mother for SecTreas hearing
1/20 12:00 ET POTUS Inauguration
1/21 ECB meeting and rate decision
1/21 8:30 ET Housing Starts
1/21 8:30 ET Philly Fed
1/22 9:45 ET Markit flash PMIs (Jan)

Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation