Never Doubt Santa

Tue, Aug 9, 2011 - 4:24pm

 Always keep in mind the two warnings that Santa has given us:

1) We are about to experience extreme volatility in gold. Check!

2) $1764 is the Final Frontier and will be vigorously defended by The Cartel. Check!


Also, remember the warning that I gave you on Sunday:

For now, no one can predict gold in the very short term. What I do know, however, is that gold will be higher one month from now, three months from now and six months from now. If you must trade, buy yourself plenty of time.


About the Author

turd [at] tfmetalsreport [dot] com ()
Does Feb19 Comex gold close above $1250 on Friday?
Total votes: 191


Tripel_Play · Aug 9, 2011 - 4:26pm

What a wild ride!

What a wild ride!

Dagny Taggart · Aug 9, 2011 - 4:27pm

Thanks Turd!

I totally believe in Santa.

Over55 · Aug 9, 2011 - 4:28pm

Really how can't Gold go

Really how can't Gold go higher. Have you seen the incredible move in the Dow at the very last min?? Up 400 points for what? Because they are going to keep interest rates artificially low, and then jack up rates for all the consumers.

Really, get some gold, silver while you can. As TF said its going up.

and with the mess below, just more icing on the cake.

Dr Durden · Aug 9, 2011 - 4:29pm

Sidewise grind very important

Sideways grind very important for long term health. Needs to get back to trend line.

unky · Aug 9, 2011 - 4:29pm


How about silver? Not so great for the white metal... Stock market goes down, so does silver, stock market goes up, silver still goes down. Nevertheless I bought some hundred ounces today

LongGoldLongSilver · Aug 9, 2011 - 4:33pm
Eric Original · Aug 9, 2011 - 4:33pm

$40 moves

$40 moves in Gold are now the norm. Get used to it.

SilverWealth · Aug 9, 2011 - 4:39pm

gratitude to Jim Sinclair

The guy has been a leader in the gold community and a very important force.

Great gratitude to him.

Silver is money · Aug 9, 2011 - 4:40pm

Don't even want to talk about

Don't even want to talk about silver anymore huh? I don't blame you. What a strange riddle it has been lately. Dow down 634 makes it go down and Dow up 449 makes it go down. What will make it go up? 

LaMachinna · Aug 9, 2011 - 4:44pm
silverwood · Aug 9, 2011 - 4:45pm

Bought some silver today.

I was able to catch the 3:45 et dip and got in at $37.11. It was hard to pass up as it was not only on sale in $fiat but gold also was putting it on sale @46.+/1 gold/silver ratio. The gold/silver ratio is at strong overhead resistance zone shown on a monthly chart. So silver may continue to fall so that is why I only bought SOME.

Dr Durden · Aug 9, 2011 - 4:45pm

200MA for silver is ~$35.50

200MA for silver is ~$35.50 and we seem to be heading for it. Patience.

And the lower trend line is still intact.

lostinspace · Aug 9, 2011 - 4:47pm



London on Fire: Video of Tottenham anti-police riots, bus blaze
Larry · Aug 9, 2011 - 4:49pm

@Silver is Money

It will go up when the Cartel goes long. If they capitulate to cover their shorts, I expect they would take it out on other or all other markets. That and get "relieved" with some Fed bailout money (our money).

The Hat Tip · Aug 9, 2011 - 4:50pm

Santa's Next Number

Santa's next number is $1849. Any bets when that'll be reached?

highway · Aug 9, 2011 - 4:55pm

"Don't even want to talk

"Don't even want to talk about

Submitted by Silver is money on August 9, 2011 - 4:40pm.

Don't even want to talk about silver anymore huh? I don't blame you. What a strange riddle it has been lately. Dow down 634 makes it go down and Dow up 449 makes it go down. What will make it go up?"

This only confirms that silver price is being manipulated desperately by EE.

71185208 · Aug 9, 2011 - 5:00pm

Too eager

I have bought gold and silver miners and explorers quite heavily in the last week. Used up a lot of dry powder. Discipline of waiting for lower bids, though, eludes me... I find that I don't have a problem with the psychology of buying when things are plummeting. I am not complaining about silver lagging, I always remember Rick Rule's maxim 'Either you're a contrarian or you're a victim' so I like buying when I read so many people feeling hopeless about the miners and silver, which is why I've loaded up on some silver stocks. I do struggle with waiting just that little bit longer, that little bit longer that I alway should have see the price down 10 or 15% on a stock you've liked for a while, and you think 'this is it! Here's my chance!' but then two days later it's down another 15%... Moral of the story: use those ultra-low stink bids, that are 30% to 40% off the current price...

Ojibwemowin · Aug 9, 2011 - 5:00pm

We all should continue

We all should continue to refine and work on our own Ag/Au plans. My family and I plan on buying physical as we have been doing over the last few years whenever we have convertible fiat to do so, which occurs on average 2 times a month. The price has to be in reason related to spot. Daily or weekly price fluctuations are interesting, but do not bother me. My wife and I have committed to is a long term horizon of buying physical metals through our working years, which should be at least 15 more years, God willing. I liked what I heard Ron Paul say about his long term gold plan which was to get in and buy gold regularly when the US departed from the Bretton Woods global gold currency standard in 1971. (The price of gold at that time was $40.62).

Thanks to what we have learned here we will consider periodic conversions of Ag to Au, and vice versa if appropriate ratios are there. If we need it before we are ready to quit working it will be there. If we don't need it we will be able to give it away to our kids, along with the knowledge that goes with it. Thanks to all of you for this perspective. In terms of talking to others about this, I generally don't as most people don't seem to have clue.

In addition to PMs, we also put time into health, fitness, fun, Church/Bible study, food procurement/preservation skills and our work related skills, as these are among the the truly great investments that can be made regularly as well.

Charles S. Hamlin · Aug 9, 2011 - 5:05pm

POSX dropping

Anybody notice the drop of the USD Index after the FOMC comments? Wow...

· Aug 9, 2011 - 5:06pm

The craziness continues

I've got Dec gold back up to 1746 as the Globex heads into timeout until 6:00

· Aug 9, 2011 - 5:15pm
PaPaSpeed · Aug 9, 2011 - 5:18pm

In the miners is where I want

In the miners is where I want to be. I remain convinced of that, especially the silver miners. Let's face it, that's where the silver is.

If we look at SLV, the physical is not there, if we look at the comex, it's not there. The supplies are being used up by either manufacturing, or by hoarders (like us). There is just not that many ounces available for all the paper commitments and industrial demand. Like the Zombies said " She's Not There"

So my best advice is to remain calm, buy miners, and stack physical. Merry Christmas!

Good luck to all.

· Aug 9, 2011 - 5:19pm
· Aug 9, 2011 - 5:20pm
UGrev · Aug 9, 2011 - 5:22pm

I swear I'm going to wake up

I swear I'm going to wake up one morning and I'm going to need a wheelbarrow and not have one to roll my money down to the grocery store to buy a loaf of bread. Seriously.. wtf is going on?

survivalwstyle · Aug 9, 2011 - 5:22pm

great links mrF! AG/AU ratio is @ 46

time to go out and get some more SILVER! do not think this sale wiLL last long once asia opens @ 3pm PST. goTTa run!

survivalwstyle · Aug 9, 2011 - 5:33pm


And did you see that total silver OI from basis yesterday is down to 114,366? Shit, after today, you can be certain that it's even lower. 

For perspective, at the worst of the bottom in late June, OI got down to about 110,000. Silver then rallied about 25%.

Be patient. The remaining contracts rest in very strong hands. Silver will charge forward very soon.

71185208 · Aug 9, 2011 - 5:36pm

Focal points

Today's Casey Daily dispatch talks about focal points and how it relates to Gold and Treasuries. Summary: There was an experiment where 10 people were randomly dropped off in different parts of NY with no communication or prior arrangements and told to meet each other. They all converged on Times square because it is a focal point. Similarly, people flock to treasuries even when they are downgraded because they know everyone else will flock to Treasuries. What is interesting is how gold is a new focal point, which it wasn't in the panic of 2008. The threat to Treasuries is not that it was downgraded, but that there is a new focal point to compete with treasuries. My extra take: In the context of the above, I suggest that TPTB know they can't entirely prevent gold from becoming a new 'focal point', but due to their tenuous short positions they will do everything possible to prevent silver from being seen as a focal point along with gold. I suggest that's the reason we get truly bizarre days like today, where ALL PM's except silver are up... In all honesty, I try not to read the EE into every negative price move, but today's price action in the PM's has to strike people as highly anomalous with regards to silver's negative correlation... But what do I know.

The Hat Tip TF · Aug 9, 2011 - 5:37pm

Morgan has quite a range

The $65-$75 interim high seems plausible, but $5 low - c'mon.

Too many people own silver and there are way too many people with big positions (10Ks or 100Ks of oz) now. There's already a silver insurgency afoot against the bullion banks and its members aren't only the Silver Liberation Army people that buy in small quantities - it's the big boys. COMEX is being drained slowly but surely because these big boys are taking delivery of the contracts they buy, every month.

It's a managed retreat by the bullion banks and tip-toeing advance by the buyers - amongst them Chinese, who can't get rid of the dollars fast enough. The newly opened Pan Asian Gold Exchange with its upcoming silver offerings will hasten the speed of retreat once it releases the silver products to market, presumably later this year or beginning of 2012 once the gold products are in full swing.

This volatility frustrates a trader but favors and delights a physical buyer, because the short sellers are presenting continuing silver sales as we advance towards the end of great Keynesian experiment.

kosinjames · Aug 9, 2011 - 5:43pm

Silver bargain coming soon?

Gunning Globex seems to be the tradition for even lower bargains, especially when silver is the only metal that goes down, hard on the day. Cheaper silver soon, anyone?

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