TF Metals Report Blogs

All sorts of commentary today that the drop in CPI...below expectations for the first time in a year...somehow proves Powell correct. Namely, that inflation is/was indeed "transitory". Well, as the old ball coach likes to say, "not so fast, my friend".

And we've been stating this here...

The new week begins and the best thing we can say about it is that it's a week before an FOMC meeting. This means that all Fed Goons must remain in the crypts and lairs all week. Yay us!

Yes, the September FOMC is scheduled for next week, the 21st and 22nd. So all Fed Goons are under...

Yesterday was a very frustrating day for many of us and even I allowed my personal emotions to spill over into the Jackass thread. But it's back to business today...on a day where the Comex PMs are business as usual.

Let's start with today's Producer Price Index. Again, the word is "...

Man, this is not how I thought this week would play out. Instead, it's more like how I figured last week would play out. The fact that prices are about where they would be regardless brings no comfort.

All through last week, I was concerned that The Banks, by actively capping price at...

In an extension of yesterday's trade, the POSX has moved higher again today and has broken back above its 50-day moving average. As a result, the Comex digital metals have again been taken to PoundTown. However, the expected support levels that we discussed in yesterday's podcast have so far...

Just when it appeared that we were set to extend some gains after last Friday's BLSBS, the bond and POSX markets reversed Monday into today and now the Comex precious metals are taking another Tuesday smash. It's as if last Friday's BLSBS never happened as The Banks win again.

Welcome...

We've been waiting all week for the BLSBS. We've watched The Banks cap price at the 200-day moving average and our concern grew that today would bring a slam. Instead, the BLSBS came in at about 30% of expectations and it now appears that our concerns were unwarranted.

Of course, it's...

Jeez, Louise. Every day this week has been the same. Comex gold gets beaten lower and away from its 200-day MA time and again...all of it designed to keep price in check before tomorrow's latest update on the BLSBS.

Today was particularly egregious. No sooner did the Comex open at 7:20...

We don't usually pay too much attention to the ADP employment report that precedes the BLSBS by a few days each month. However, with so much focus and emphasis being placed upon this Friday's US jobs report, this month's ADP is worth noting.

And it was a major miss. Expectations were...

The price of CDG is being wiggled back and forth today as it's not only a CoT Tuesday but it's also the last day of the month. Again, though, all of this matters little with what's pending for later this week.

So, anyway, happy Tuesday. It's a mostly quiet news day with not much change...