An Encouraging Thursday

260
Thu, Sep 8, 2011 - 5:10pm

It what can only be construed as encouraging action, gold flew back higher today, nearly to the level it was before the blatant manipulation of Wednesday. I'll be very interested in the OI numbers tomorrow to see if today was primarily due to continued short covering by The Cartel.

I'll find it quite amusing if it was. To think that the SNB deliberately tried to manipulate gold lower only to be thwarted by the greedy, frightened, short-covering Cartel is wonderful to consider. Sort of like having your two worst enemies declare war upon each other. I'll stay happily on the sidelines while I giggle at my good fortune. At the end of days, survival instinct kicks in and everyone turns on each other. Perhaps that's what we're seeing here.

Regardless, The Turd is quite pleased with where we stand at this moment. Absent margin hikes or further intervention, the PMs look certain to trade higher this evening and into the overnight. (President O'bottom discussing the idea spending more money that we don't have should help provide the bids.) IF they can survive the usual 3:00 am LBMA beatdown, they will be poised for a stellar day tomorrow. Perhaps they will even finish with a green candle on the chart.

And if you haven't read this yet, I suggest you do it now. There's no sense in me commenting on it as I would imagine you can easily envision what I would say. (Something like "duh" or "ya think?" comes to mind.)

https://www.zerohedge.com/news/goldman-head-gold-trader-speculates-about-authority-intervention-gold-sees-gold-pushing-higher

Have a great evening! TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  260 Comments

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SilverBoy
Sep 9, 2011 - 6:38am

EE That's all you have?? You make me fun!

Shows us more! Uups, I forgot you don't have more. HAHAHAHA! We are wining!

Himalaya
Sep 9, 2011 - 6:35am

Gold at Discount!!!

Gold at Discount!!!

stoneeh
Sep 9, 2011 - 6:35am

Aw come on ....

Aw come on ....

debtless
Sep 9, 2011 - 6:33am

Metals are now just a rigged carnival game

This is just fucking ridiculous. Worse than I've ever seen it. They are in total and utter control of these prices. Pathetic.

flying monkey
Sep 9, 2011 - 6:26am

Gold Sale

A warm thank you to the Cartel for providing another Gold and silver Sale today prior to the comex open. Very kind of them to allow me to stock up on discounted precious metals before the Keynesian experiment totally fails.
Mbovane
Sep 9, 2011 - 6:17am

Raid?

What caused this drop?

GS_PHYS
Sep 9, 2011 - 6:07am

Anyone remember April 29 ????

In Silver am seeing most indicators (today Fri Sep 9) lining up to almost same level and Pattern as Fri, April 29 (on 8 Hour chart).

It's a coincidence that Monday, May 2 was holiday in Asia as it is Mon Sep 12.

I am seeing Stoch Momentum/Stoch RSI in Silver.

Also Gold was hammered from 1576 to 1524 almost 2% drop.

Any predictions for today ?

PS: if anyone believes WB, Silver above 36 for 60 days is ending on Sep 11 as per "silver-foil-hat" https://www.tfmetalsreport.com/comment/510537#comment-510537

flying monkeyRui
Sep 9, 2011 - 5:18am

James McShirley Video

@riu Thanks for putting that video up. We had a 3% rise last week which was a sign of the cartel being overwhelmed by demand but then the swiss flying monkeys came in to help. lemetropolecafe.com is a great source of info as well as this blog.

nathan1234StartThePurple
Sep 9, 2011 - 5:04am

Obama is playing to the galleries

RE :Insanity Submitted by StartThePurple on September 9, 2011 - 2:36am. Obama is playing to the galleries- This way he can accuse the Republicans if they dont agree and when it does not work he will say he tried. Politicians think they can dumbdown the people. Being Goebellian works only for a while. Truth will prevail. All these guys need to be behind bars or strung up from the nearest lampost. People's welfare is the last thing on their minds

GS_PHYSRevolucion
Sep 9, 2011 - 5:04am

Good catch there !! Thanks to

Good catch there !! Thanks to both @Monkey and @Revolucion

@Rui Thanks for the video.

Regards,

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