Turd's Blog

What's left unsaid regarding the current state of the precious metals? Really, nothing. It just is what it is. Prices head lower as rates and the POSX head higher and, until something changes economically to force the hand of The Fed, we're just kind of stuck here.

The good news today...

Today's durable goods data came in slightly better than expected, though nothing to get excited about. However, it was enough to extend the relentless rally in the POSX and force even more selling and shorting in the Comex PMs.

Wow, this is some nasty stuff. Just one week ago today,...

It's another weak day on Comex which is pretty much what we expected after reviewing the option open interest yesterday. But it's just a day and it will be over soon enough and then we can turn our focus to the news and events pending for later this week.

If you missed it yesterday,...

The yield on the 10-year note is soaring again today with the rate now exceeding 4.50% and pushing higher. This has led the POSX higher and so, of course, the Comex PMs are down as the new week begins.

So I guess we might as well start there. The selloff in bonds began when trading...

In a stunning development, the Comex precious metals are actually poised to paint green weekly candles...again...for the second week in a row! Now, it's early and there's still plenty of time left in the day but, after the debacle of the FOMC, it just seems sort of surprising that the week is...

While it's no fun to wait out the economy and the Goons, the situation sure gets to get more ugly by the day...in all facets of society.

I don't even know where to start on a day like today. For fun, let's start here. Did you know that there are people who "identify" as dogs? Further,...

The POSX is down and the Comex PMs are up today ahead of the September fedlines and presser. Is this a sign of things to come or is it just a trap set to wrong foot traders ahead of the action this afternoon and tomorrow?

Of course, that's difficult to answer. It always feels...

The September FOMC begins today and, while no news is scheduled until tomorrow, there's still plenty to discuss as the markets prepare for the Fedlines and Jerry's presser.

Today has begun rather quietly, however. The precious metals rallied overnight on a weaker POSX but then, of...

What? Green candles?? Inconceivable!!!

" You keep using that word. I'm not sure it means what you think it means ." - Inigo Montoya

But it does seem inconceivable that the Comex PMs would have green candles...particularly on a Friday...particularly when a Friday rally can turn...

It's just another down day for the Comex metals as a perfect storm for HFT algo selling persists and worsens.

The Comex metals are being impacted by a double whammy today. First, the ECB did issue another rate hike but they seemed to strongly signal that it would be the last. So,...