Thu, Oct 8, 2015 - 11:30am

What's the old phrase? We may not agree on what pornography is but we all know it when we see it? The same is true in gold and silver. We may not all agree on the culprits and methods of price manipulation, but we all know it when we see it. The action last night and today are your most recent examples.

So, back on Tuesday, we noticed the old tried-and-true Cartel sell signal...the Globex raid. As soon as the silver Comex closed, price was immediately shoved back for the 200-day in a move of over 1%. We discussed this in Tuesday's podcast and expected a raid yesterday but it didn't happen. Then, when a similar Globex raid hit yesterday, you almost had to KNOW what was coming...and so it did.

Price was drifting along last evening (New York time) when suddenly, They struck:

By resetting price this way between Comex sessions, The Banks hoped to engender even more sell-stop selling and liquidations at the Comex open earlier today and it was mission accomplished on that, too:

But here's the good news (at least for now). We had projected (hoped) for support from the 100-day moving average and we got it. That Dec15 100-day is $15.38 and I have a low earlier today of $15.37. Pretty cool. And now we're back UP to a last of $15.65. For anyone hoping for a Cartel "loss of control", this is a hopeful and optimistic sign. But don't get carried away just yet. They could still come for it again later today and overnight so stay vigilant.

In gold, can it be any surprise at all that price was rigged down and away from the 100-day moving average...AGAIN!! Here's the chart I posted to the previous thread about an hour ago:

And here's another one of those weekly charts with the purple arrows. Could this be more obvious??

So, if you're looking for a real turn and a true signal that The Cartel is temporarily on the ropes and backpedaling, you've GOT TO SEE a move of significance UP and THROUGH this 100-day...and then the 200-day, too. Until then, The Banks will keep prices capped and trending lower while the HFT algos and funds keep selling the rallies.

And anyone with a trading position in miners is going to want to watch the HUI here, too. It's probably going to want to reach down and fill that area between 121 and 122. What comes after that will be important. Can it then move higher...through 128 and toward that 133 level? Or will it collapse back down again?

Still ZERO October gold deliveries in October! Again, the only "deliveries" thus far this month occurred on the 29th and 30th of September for a meager total of 126. All the while, total October OI has fallen from 3,092 to yesterday's 1,546. I don't know. Maybe it's nothing and just standard Gold Bank bullshit. But this sure feels funny given the utter lack of registered gold...a total that has remained at just 161,000 ounces for over three weeks now!

Finally, these are your BIG financial headlines of the day:

To that end and because this is all beginning to seem quite ominous, I hurriedly tracked down Denver Dave this morning and recorded about 20 minutes of discussion. I've got to try to clean up the audio a bit before posting as the neighbor's lawn crew showed up outside my window about half way through. Once I get that done, I'll be posting the "interview" this afternoon in lieu of a podcast. So, please be sure to check back later. For now, here's his latest on the subject:

Have a great day.


About the Author

turd [at] tfmetalsreport [dot] com ()


J Siefert
Oct 8, 2015 - 11:32am

Any news of

...China joining the fray in Syria?

Oct 8, 2015 - 11:32am



In order only!

TF Metals fan
Oct 8, 2015 - 11:33am


Would be nice

Safety Dan
Oct 8, 2015 - 11:36am



edit - I do believe this is my first first since a member here.. Thank you Craig for all you do. Outstanding site and family... even if I bark once in awhile... 

2nd edit - saw this comment on Craig's link to Dave's site:

I’m surprised the Euro is so stable today. I’m no forex trader, but the VW thing, this DB announcement, the CSFB announcement. Just flesh wounds I guess.
At least silver is getting monkey hammered. Good times, good times….

Oct 8, 2015 - 11:39am
Oct 8, 2015 - 11:42am

Thanks Craig...

I really love this site and all the different commentary!

I would agree that this is like porn because it is addicting as hell trying to make heads or tails out of this crap!

Oct 8, 2015 - 11:50am


Me Thinks,

Oct 8, 2015 - 11:50am

Maloney talking about what denver dave was talking about

Banking Crisis: Bernanke Bust is Here - Mike Maloney
Oct 8, 2015 - 11:58am

I just listened to 40 minutes of the Anti-Turd (Bron Bron)

Sorry guys - I was just curious about this guy. The first half of the interview was possibly as dull of an interview I've ever heard in the gold space. He then actually made some agreeable points imo ( ok 10 our fathers and 20 Hail Marys, may I be forgiven for blaspheming this blessed turd space) and then I just wanted to fantasise about Turd and Bill Murphy jeering and heckling at his next symposium ( about his stance on PM manipulation) towards the end of the interview. So here it is- 40 minutes of your life you'll never get back and don't tell me you weren't warned.

Angry Chef
Oct 8, 2015 - 11:58am


Nobody gets to read it..just sign it. Sound familiar. TPTB are losing control. The Internet has been exposing them for decades. This is furhter proof of the erosion of our freedoms and the march to an escalated confrontation with Russia, China and the World. How can you have a Trans Pacific Partnership without China ? Not only is it attacking the internet but it's escalating and extending ( extend and pretend ) the currency Wars.

I'm starting to think the best strategy isn't stacking and prepping. But getting the hell out of Dodge. Reagan was right. They're a bunch of crazies in the basement.

Oct 8, 2015 - 12:02pm

FOMC minutes in two hours

If you're looking for a dip to buy, you might find one between $1122 (50-day MA) and the trend arrow from the July lows near $1112.

Oct 8, 2015 - 12:04pm

@SilverX3...(FOMC minutes)....Why not "seconds"?

"...We, the almighty Fed, believe the economy is strong as ever..." I see it the same way. It's (the minutes) just another tool to give them more power and allow for a damage control.....Very little to do with transparency.

Nick Elway tyberious
Oct 8, 2015 - 12:10pm

Fascist Business model

Thanks Tyber for the Jim Willie heads up in the previous thread.

I am beginning to grasp what JW means by the Fascist Business model.

A Fascist Empire Crumbles ~ with Jim Willie Part 1
Oct 8, 2015 - 12:34pm
Oct 8, 2015 - 12:42pm

Today the liar in chief

liar (most transparent govt? bwahahahaha) (you can keep your insurance!) (I'll close guantanamo) (no more lobbyist revolving door in my administration!).... is coming to Oregon to lecture us about his opinion on gun control. I doubt he has seen this, nor does he want to because it will expose him AGAIN as a gigantic lying POS (president of states -what did you think??)

Joseph Warren
Oct 8, 2015 - 12:45pm

The Charts Are Fake !

or the data used to draw the real charts is fake.

Its a distinction that makes no practical difference.

(So there . . . this is for ole times sake in memory of SS121.)

He did make a good point . . . and you gotta wonder - How could they ever 'lose control' of their own charts ? They cannot manipulate the physical market forever. The premiums over spot, and miners falling revenues vs their expenses, will force physical prices higher. Under what circumstances can they allow their PM chart numbers to rise & reflect this? Can they ever afford to do that again, when they fear even a paltry 1/4 pt interest rise ? -- This is what I've hoped for as a PM investor. . . a spectacular rise in PM prices which would benefit me. But not a end-of-the-world scenario that might make my PMs valuable, but cause innumerable other 'problems' far worse than investment losses.

I guess your viewpoint depends on whether you look at this as only a financial/economic matter, or nothing but a brutal crime syndicate in operation (fascist business model).

I'd like to ask Jim Willie about this. With his mathematical & statistical background that would be interesting.

Oct 8, 2015 - 12:53pm
Oct 8, 2015 - 12:55pm

Just some news from the Central Europe...

Visegrad Group (Poland, Czech republic, Slovakia and Hungary) is considering a military help to Hungary, to protect the southern borders of Hungary.

The Minister of the Czech republic, the equivalent to the U.S. Homeland Security, stated, that they have information that Austria will close its borders with Germany and Hungary, and if they do, the Czech republic is ready to close its borders with Austria and Germany, to stop all the trains for search, and use its border police and the military units.

The U.S. Navy ships are moving towards the China's man-made islands, and China is very upset right now. ;-)

Just saying, that we are living in interesting times. ;-)

Oct 8, 2015 - 12:59pm
Oct 8, 2015 - 1:11pm


like suing god over gravity. Or maybe he should sue his parents for making him a genetic idiot: therabands are little pieces of rubber sheets used for resistance training. They are great for physical therapy. I think the only way they could hurt you is if someone wrapped it around your head and tightly held the other end with their fist while they pounded you into the dirt. This is crazy...

4 oz
Oct 8, 2015 - 1:15pm

Latest Ranting Andy


Chuck Diesel
Oct 8, 2015 - 1:16pm
Oct 8, 2015 - 1:18pm

Why A Gold Standard

Continue Reading at…

in plain and common English, inflation is coin clipping and, for thousands of years, equivalent to stealing, often punishable by death.

“The time has come to establish the international monetary system on an unquestionable basis that does not bear the stamp of any country in particular. On what basis? Truly, it is hard to imagine that it could be any other standard than gold. Yes, gold whose nature does not alter, which may be formed equally into ingots, bars or coins; which has no nationality and which has, eternally and universally, been regarded as the inalterable currency par excellence.” 

Charles De Gaulle

cc horses

Oct 8, 2015 - 1:31pm

@ canary......HUI is going

@ canary......HUI is going crazy still

But we have to watch action post-2pm to gauge how we close (above or below 128).......feels like a smash set-up is in place....HUI's technicals call for a breather of some type

Oct 8, 2015 - 1:37pm

Guest Post: 47 years after

Guest Post: 47 years after 1968, Bundesbank STILL fails to deliver a gold bar number list

Oct 8, 2015 - 1:48pm


Dollar selloff. SP500 flat. Gold sold off.... Guess this is breaking as well.

Oct 8, 2015 - 1:55pm

Oct 8, 2015 - 2:06pm


Back in the 2012...this Goon was a bigtime "hawk". Always giving speeches about the need for tightening and higher rates. Somewhere along the way, he flipped and now he's Dove City. Take this for what it's worth...

Oct 8, 2015 - 2:09pm

Well, this is nice

Post-FOMC, gold back above 100-day and near highs of day at $1150.

Oct 8, 2015 - 2:10pm

Nice post fed minutes rally

Can't keep the metals down. Go go

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