Just Some Charts

Mon, Apr 22, 2013 - 1:49pm

Because it's late and this is about all I can handle for today.

We had a little bit of a rally today but did you notice that gold was stopped in its tracks when:

  1. The Comex opened for trading and
  2. It had reached the all-important "2% cap". In fact, there was a clear movement afoot to close gold back under the 1% cap and they nearly made it.

So, now, here we are. Yes, it's always nice (and rare) to begin the week on an UP note. But don't be fooled...nothing much has been accomplished. I had expected/hoped that the drop out of the 19-month ranges would be nothing but a brief, stop-running exercise. Instead, the thing took on a life of its own last Monday and now we learn via the CoT that The Cartels didn't even cover. The LargeSpecs did. All of this infers that further weakness and volatility may be coming. Let's hope not but until prices get back into the 19-month ranges (above $1525-1550 and $26), we must remain vigilant.

And here is your homework assignment / thought experiment for the day. I want you to print off these three charts. Place the gold chart on top of the copper chart and hold it up to the light. Then, do the same with silver and copper. Having done that, let me ask you this:

Why are these charts nearly identical? Other than being elements on the periodic table, what do these metals have in common. If your list of commonalities is short, why do they trade as they do? And because they trade nearly in tandem, what does this say about the current method of price discovery?

OK, that's all. Gotta go. Have a great day!


About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 23, 2013 - 4:03pm

Hey look here,

If the cartel succeeds in smashing paper price to $0, and then goes for forced cash settlements, what a profitable business model. When will someone set up an alternative exchange?

Apr 23, 2013 - 3:58pm

Issa wants QE Exit Documents ~ Do they exist?

Fed withholding ‘exit’ documents, Republican lawmaker says

April 23, 2013, 3:44 PM
Getty Images
Rep. Darrell Issa

The Federal Reserve is “willfully” withholding documents related to their exit strategy planning, says Rep. Darrell Issa, Republican from California and chairman of the House Oversight Committee.

In a letter sent to Fed Chairman Ben Bernanke that was released to the media on Tuesday, Issa repeated a request for internal Fed studies of how it plans to unwind its balance sheet, now well over $3 trillion. Read how it may take a decade for balance sheet to return to normal.

If the Fed does not produce the material by May 6, the House panel may consider “the use of compulsory process,” Issa wrote.

Some Fed officials have raised concerns that the exit will be politically unpopular. The Fed could lose money on its holdings as interest rates rise. In addition, the Fed plans to raise the interest rate that it pays banks to park their excess reserves at the central bank.

Issa’s letter followed up a request sent to the Fed is mid-February from Rep. Jim Jordan, the chairman of the House Oversight panel’s subcommittee on regulatory affairs. Issa said the Fed only provided Jordan a binder of publicly available studies and a single one-page email.

“The American people have a right to know the true risks associated with the expansion of the Fed’s balance sheet. The Fed’s obstruction and lack of transparency must stop,” Issa said.

A Fed spokesman said the Fed has seen the letter and plans to respond.


Apr 23, 2013 - 3:57pm


dude... seriously?

the only thing you ever want to contribute here is a title and link to your own site?

how much do you think you should pay Turd for all the traffic?

Apr 23, 2013 - 3:53pm
Apr 23, 2013 - 3:53pm
Apr 23, 2013 - 3:50pm

Canadian Bison

Still available at APMEX for those who want to know

FYI the 2012 series ( at APMEX) at sell for 40+ sooo

effectively, get yours now!!

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Apr 23, 2013 - 3:38pm

@ Ancientmoney Re:Uprising @Bollocks re:Bartle

My parents returned this month from the sunny paradise of Arizona this month. There was Exceptional discomfort about the state of everything, little was talked about that was positive and life affirming. They actually came back a month early, There was no FUN to be had.

This year was also a rather chilly year down there, maybe that had something to do with the general Grueling Grouch Syndrome they experienced. Often its a confluence of events that agitates people, a silly spark like weather can be all that is needed to create an exothermic reaction.


@Bollocks Looking forward to Part II of that video, hoping he doesn't make a yarn about the "TRUST" and sticks to topic.

The 1st video that he had professionally done makes one wonder. A friend of mine had a tv spot 8 years ago paid by her and it was not a cheap endeavour. The other thing that makes me wonder about him is who did he meet/work for during his time spent as a Captain for Luxury yachts.

Maybe I am becoming too sceptical and need to trust more, but that is eroding fast in everything but my belief that tomorrow my hair will be longer.

Still his presentation begs the question, "Are current government entities legal?"

Apr 23, 2013 - 3:30pm


that James Sinclair, aka Santa, who apparently understands the gold business, as Mr Gold, would ask AM, through KWNs, whom AM has predictive apparent powers as 'a good start' to bag the mob using the legally sufficient proximate cause, in desire of understanding the mechanics of bullion trading at LBMA from AM, as Sinclair appears, from the perspective of one flying over the forest and getting the big picture, to have obviously done, on KWN, as these two heavies are apparently joining forces, now, somehow, perhaps looking to bagging the whole mob, which two incredible guys, have apparently now combined, as perhaps THE missing skill(s) of needed skill set, to sink the ship and bag the mob.

Just an observation. Just saying. No Missiles please.

A runner was sent today to the LCS to verify anecdotal data herein, reporting later.

When a legal team is formed for destroying the clients' hedge defense, it will get very interesting.

Apr 23, 2013 - 3:23pm

Schiff talks about the GDP manip... er, calculation change.

GDP Propaganda Exposed
GDP Propaganda Exposed
Apr 23, 2013 - 3:23pm

Not for Profit Selling

The only thing that didn't spike on the false AP report was the price of the PM. It is the one thing that should really have gone crazy because of its role as a hedge against uncertainty.

What did spike was the volume (still visible on the ND or NetDania.com chart). This kind of not for profit selling, where every single bid is hit in order to prevent the price from rising is blatant manipulation of the market. Any legitimate seller would gladly let the price go higher in order to profit from the trade, not just hit every bid to hold the price increase in check. There is no hope the CFTC will ever do anything about this. This farce ends when what little real metal backs these markets is completely gone. That day has never been closer.


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 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Recent Comments

by Ned Braden, 9 min 14 sec ago
by b72s, 12 min 18 sec ago
by Turd Ferguson, 25 min 43 sec ago
by allenb, 26 min 7 sec ago
by murphy, 32 min 5 sec ago
by Gasivs Buttox, 36 min 39 sec ago

Forum Discussion

by Mr Michael Khan, 2 hours 54 min ago
by TexasTonto, Jul 9, 2020 - 9:53pm
by SteveW, Jul 9, 2020 - 6:23pm
by SteveW, Jul 9, 2020 - 6:20pm
by Ken, Jul 9, 2020 - 1:36pm