Bullish Gold in Four Pictures

Tue, Sep 20, 2011 - 3:06pm

All four of the charts below paint a bullish picture but it appears that the next 24-48 hours hold the key. Hmmm. Isn't that interesting? What earth-shattering, market-moving news is possible over that time period?

Silver, not so much. Though I'm still extremely bullish long term, for now, silver looks to still be taking baby steps toward recovery.

Further affecting my enthusiasm for silver are the charts for copper and crude, both of which are failing to inspire much excitement or confidence.

That'll have to do for today. The Turd is going to be quite busy through the evening so I doubt I will update again before tomorrow morning. Hang in there. Get some rest as tomorrow promises to be a very interesting day. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 20, 2011 - 3:07pm



Sep 20, 2011 - 3:08pm

Thanks TF!


Sep 20, 2011 - 3:09pm

My two charts...

posted in the last thread. Two hour spot gold... and then the 1 minute spot gold with the bottom line shown. $1810 seems to be very important to all parties

Sep 20, 2011 - 3:10pm

My question

Is how have they been driving silver lower so strongly if the contracts have been decreasing? How do you make it waterfall if you aren't dumping thousands of sell contracts into the market. No margin hikes, no mass shorting...how are they making it go down?

Sep 20, 2011 - 3:15pm

And, in preparation for tomorrow,

I would strongly suggest that you read this:


$1T in new QE would probably help gold catch a bid.

Dr G
Sep 20, 2011 - 3:16pm

@austrian (from previous

@austrian (from previous thread),

I fully agree that silver will outperform gold. I'm hoping that it will. I'm holding much more silver than gold. It just seems so undervalued right now. When I think about it my mind starts to turn to mush. And then you have moments like now where gold is up $22+ and silver is up only 7 cents.

Sep 20, 2011 - 3:16pm


Big thumps and then cover.....

Dr G
Sep 20, 2011 - 3:23pm

@Turd, yeah, $1 trillion

@Turd, yeah, $1 trillion would probably do it, but if that is the case what will $400-500 billion do? I don't know that we will see $1T tomorrow (although the ZH article makes a great case for it). And I know that in the long run none of this matters. Gold is going up and so is silver. But it's fun to speculate. This is another form of sports for many of us.

On the bright side, many of us should be rolling in piles of freshly-made fiat at this time tomorrow. Thanks Bernank!

Sep 20, 2011 - 3:24pm

London Trader reveals .....

London Trader continues:

“As soon as China closes trading each day, that is when the selling starts in the paper markets. These raids on the price are designed to get weaker players flushed out of the futures markets so they (commercials) can cover some of their short positions.


Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Recent Comments

by Turd Ferguson, 2 min 21 sec ago
by Turd Ferguson, 2 min 38 sec ago
by Stevediva, 7 min 6 sec ago
by brolgaboy, 8 min 44 sec ago
by Turd Ferguson, 12 min 50 sec ago

Forum Discussion

by ancientmoney, 2 hours 6 min ago
by argentus maximus, 2 hours 31 min ago
by atarangi, 5 hours 40 min ago
by atarangi, 6 hours 12 min ago
by atarangi, 6 hours 31 min ago