Fast Market = Fast Update

Thu, Oct 27, 2011 - 10:39am

No time for dillydallying today. Things are rolling so let's get right to it.

Let's start with our two base commodities as the PMs are definitely drawing some strength from them. As I type, Dec11 crude is up $2.41 at $92.61. DrC is charging higher again, too.

These two have given a boost to silver which is finally trading back above $34.

Gold is lagging just a bit but the chart suggests that it won't be lagging much longer.

That's all for now. I'll have a more detailed update after the close. TF

1:10 pm EDT UPDATE:

As this epic drop in the POSX continues, look for even more downside tomorrow. As noted in the post from later yesterday, once 76 gave way, The Pig looked to fall into the abyss. As you can see on the chart below, 74 looks likely as a short-term bottom.

Dropping to 74 tomorrow or next week would likely be the impetus for gold at 1780 and silver at 37. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Captain Silver
Oct 27, 2011 - 12:31pm

USMint Website down?

Anyone been able to check out those ASEs? The USMint site appears to be swamped.

Oct 27, 2011 - 12:34pm
Oct 27, 2011 - 12:34pm

goodness, gracious, great ballz of fire!

i went out to work in the yard a couple hours ago, and i came back to this! the dullar diving, silver and gold soaring! i like it! i love it! i want some more of it!

Economical Disaster
Oct 27, 2011 - 12:36pm


think would be a nice numismatic collectors' set years on from now.

Its probably the worst investment one can possibly buy. If/WHEN the SHTF, it will be worth the silver content like ALL numismatic coins will be. I say NEVER buy these types of coins. I bought a 1936 DOT QUARTER in 1992 for $650, I just sold it for $650. Had I bought a normal SILVER coin for the going price of SILVER, I would have made 10 times the money.

Eric Original
Oct 27, 2011 - 12:37pm

Crash Season is Over

I tend to view Sept/Oct as Crash Season. October is famous for crashes, while September actually has the worse long term record. Generally, each year will see some period in Sept/Oct when you just don't know where the bottom is, whether stocks or commodities. My take on this weeks action is that Crash Season is Over.

Oct 27, 2011 - 12:38pm

AG Speaks

For all those who have not seen it yet. First majestic interview with Keith Neumeyer. He is saying $60.00 in the next 8-10 months.


Oct 27, 2011 - 12:41pm
Oct 27, 2011 - 12:42pm

Dollar - OMG

Dollar lost the 75 handle and EUR is over 1.42 - hats off to Ivars. But I just can't wrap my head around this if it is open knowledge that the 50% Greek haircut is "voluntary". Doesn't that mean that it means nothing? My head hurts. And a 50% cut IS a default event? Where are the CDS owners? I'm not seeing any news from that crowd.

PS - 25th Anniv. SAE @60 ea? No thanks, I already have an expensive hobby!

Oct 27, 2011 - 12:43pm

Are we in the clear?

Or is this a two day, Thursday Friday fake into the weekend?

Oct 27, 2011 - 12:45pm

hi ho gold n silver

YIPPEE-OOO-KIIII-AYYYY!!!! Mr Falconer!!!!!

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