TF Metals Report Blogs

Another day in the Comex PMs, another day of price capping at $33 in Comex silver.

Where do you even start? I guess we'll start with a recap...no pun intended. Check this one-minute chart of the front month, May25 Comex silver contract. Other than one brief tock at $33.002, notice that...

A new week begins and, if anything, there will be at least one bright spot. What's that? No Goons! Why? Because next week brings the March FOMC and, as such, this week is the traditional "quiet period" for Fed Goons. So we've got that going for us.

That's not to say...

BLSBS Fridays are typically AlgoHell affairs and today is no different. POSX rallies, PMs plunge. POSX plunges, PMs rally. The good thing so far is that the POSX is mostly lower since the 8:30 ET release and this has helped to boost the PMs from their overnight lows.

Let's start with...

A complex picture continues to emerge today as global bond yields continue to soar relative to US treasuries. The higher rates spark algos to buy the local currencies, which results in a falling POSX, which is the opposite impact you might expect. But in a world largely run by algorithm, what...

Let's see...Last night, Trump referenced a "golden age" for America. Trump wants to drillbabydrill for "liquid gold" under ground. He mentioned a "golden dome" to protect from incoming missiles. How about his idea of a "golden passport" to recruit the world's best and brightest? All that's...

It's all Trump, all day long on this Fat Tuesday. From the overnight imposition of tariffs to this evening's "Address To Congress", Trump and his policies are going to dominate the news flow today and into tomorrow.

Let's start with the tariffs. As discussed in last night's podcast,...

The streak of eight consecutive days of Comex-based price smashes looks to come top a close today as prices have been higher all through the Asian and European day and have continued higher on Comex. That low at Friday's final PM Fux of February is looking better this morning but this all comes...

Looks like the beatings will continue...

So here we are on Day 8. Eight consecutive days of Comex-based price smashes and now Comex gold is about 4% off its highs. It's painful to watch and certainly no fun at all. However, I'll remind you that this is just the cost of doing business...

The prospect of imminent tariffs on Mexico and Canada is working against us today as a soaring POSX is leading to additional Spec liquidations of CDG and CDS.

And this is the first real, sustained weakness we've had in the PMs since 2025 began so we'll have to watch closely from here....

Today brought the sixth consecutive day of a plunge in price shortly after the Comex open. However, Comex silver refused to play along for once and Comex gold began to recover shortly thereafter. Maybe we're turning the corner?

So, anyway, welcome to Wednesday and welcome yours truly...