An Encouraging Thursday

Thu, Sep 8, 2011 - 5:10pm

It what can only be construed as encouraging action, gold flew back higher today, nearly to the level it was before the blatant manipulation of Wednesday. I'll be very interested in the OI numbers tomorrow to see if today was primarily due to continued short covering by The Cartel.

I'll find it quite amusing if it was. To think that the SNB deliberately tried to manipulate gold lower only to be thwarted by the greedy, frightened, short-covering Cartel is wonderful to consider. Sort of like having your two worst enemies declare war upon each other. I'll stay happily on the sidelines while I giggle at my good fortune. At the end of days, survival instinct kicks in and everyone turns on each other. Perhaps that's what we're seeing here.

Regardless, The Turd is quite pleased with where we stand at this moment. Absent margin hikes or further intervention, the PMs look certain to trade higher this evening and into the overnight. (President O'bottom discussing the idea spending more money that we don't have should help provide the bids.) IF they can survive the usual 3:00 am LBMA beatdown, they will be poised for a stellar day tomorrow. Perhaps they will even finish with a green candle on the chart.

And if you haven't read this yet, I suggest you do it now. There's no sense in me commenting on it as I would imagine you can easily envision what I would say. (Something like "duh" or "ya think?" comes to mind.)

Have a great evening! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 8, 2011 - 5:21pm



So is it Ok to buy yet?

flying monkey
Sep 8, 2011 - 5:23pm

U.S. To Trade Gold Reserves For Cash Through U.S. To Trade Gold Reserves For Cash Through Treasury officials say the gold has just been in the bottom of some vaults at the US Bullion Depository anyway, and the government needs the money NOW. Been lurking on here for months, thought I'd go ahead and say something. Thanks Turd.

Sep 8, 2011 - 5:28pm

Thanks TF!

Thanks TF!

Eric Original
Sep 8, 2011 - 5:33pm

Ah, gotta love "The Onion"!!

Ah, gotta love "The Onion"!!

GregGH flying monkey
Sep 8, 2011 - 5:34pm

Great link FM .... the cash

Great link FM .... the cash for gold link is going to a few of my friends that just can;t 'grasp' why anyone invests in PM's - thanks for sharing


Sep 8, 2011 - 5:38pm

I was talking with a friend

I was talking with a friend today who is not invested in PM's at all, but is a very smart business man and we were talking about the market and he mentioned gold has ran up huge as of late and I asked him if he thought Gold/Silver were in a bubble and his response was "why would someone want to pay $50 for an ounce of silver when it has no industrial use, but gold does?" I gave him a list of many uses for silver and he seemed stumped. He later went on to say that "Gold has the highest conductivity of all metals" and I said did CNBS give you this info? I'll keep on stacking!

Sep 8, 2011 - 5:39pm

jobs plan

gotta pay for that jobs plan, might as well pull out some of that dusty gold in the basement to put america back to work!

Sep 8, 2011 - 5:39pm

rearflank, cpn, rara

I responded to the plat on the previous thread, here

Sep 8, 2011 - 5:40pm


Could there be any downsides to the speech for gold? The only thing I can come up with is if we cut taxes or spend money that we don't have in the name of job creation (without any overt "easing"), the markets may perceive it as positive for: jobs, gdp and the stock market, which could send gold lower?

Sep 8, 2011 - 5:42pm


I have friends like that too. They will be the ones that get wiped out when it hits the fan. Don't waste time on them, you did your part. Talk to the next one and see if you can help them. I have a hit rate of about one in twenty. Good luck.

Buzz Wired
Sep 8, 2011 - 5:43pm

AP: Obama's Proposed Jobs Plan is Now up to $450 Billion!

AP Sources: Obama to seek deeper payroll tax as part of nearly $450 Billion Jobs Plan

Someone take the shovel away from him, all he knows how to do is dig deeper!

Well, it's certainly bullish for metals!

Sep 8, 2011 - 5:45pm


Isn't there something that can be done about the blatant last tick manipulation that goes on at least once a week at the Globex? Look at the last tick today Dec contract. $1872 down to close at 1857.5 for settlement. Every F'n week I see this at least once.

Gadsd N. Flagg flying monkey
Sep 8, 2011 - 5:47pm

@flying monkey

That Onion newscast is an absolute hoot. I especially liked how the "Treasury Official" got somewhat testy and defensive when the reporter pressed him about what other options they had considered. Remind you of any special little someone we all know? Hi there, Little (Tax Cheat) Timmy!

Sep 8, 2011 - 5:51pm


I had an interesting discussion with a friend that works in the biomedical industry. She was telling me about the future advances with the use of silver for antibacterial properties, and I'm not talking about colliodal silver. ​I found it interesting of course because there is a lot of concern in that industry about the overuse of antibiotics and so on. Silver appears to have many appealing antiseptic properties, that she believes that will grow exponential in use. Likewise, these are uses that deplete the element.. Just a little side note.

She by the way is also a PM investor (thanks to me). lol

Sep 8, 2011 - 5:54pm

My Second Favorite "Onion"

Video unavailable
Sep 8, 2011 - 5:55pm

Well, we've seen a couple

Well, we've seen a couple raids now under different guises and it has taken less than a week to bounce back. I think that is extremely bullish. Will this be the regular MO? Anytime it gets over $1900 we get a whacking on gold?

Sep 8, 2011 - 5:56pm

Painting the tape?

Nice rally today, but if they are indeed painting the tape somewhat, double top blah blah.. we should note $1872 high today is exact 61.8% fib retrace of the 2 day plunge from $1920 to $1792. Does this mean we go lower first, as Turd suggested yesterday ... maybe to around $1725 (or even to lower to fill the Aug 5 to Aug 8 gap of $1665-$1682) before the inevitable push through $2k?

Sep 8, 2011 - 5:57pm

Turd, you have me worried.

Turd, you have me worried. You said "At the end of days". Does this mean we are doomed? Normally I thought you say "At the end of the day". I don't know if you saw the Arnold movie by the same name, but that puts a bit of fear in me.

Thank God the NFL starts tonight. It will wash the bad taste out of my mouth after watching Obama.

Sep 8, 2011 - 5:57pm

This would be a rather unpleasant surprise

Say what you want about debka but their info primarily comes from sources within The Mossad.

Say what you want about The Mossad but they certainly have their fingers on the pulse of the region.

Do you own any crude calls?

Sep 8, 2011 - 5:59pm

No, doc...

You read it right. The end of days to which I'm referring, however, is the end of bullion bank hegemony.

Sep 8, 2011 - 6:01pm
TheGoodDoctor Buzz Wired
Sep 8, 2011 - 6:03pm

@Buzz Wired Obama Jobs

@Buzz Wired Obama Jobs solution from $300 billion to $450 billion? I thought Bernanke says there is no inflation? Wow that is 50% inflation in less than a week. Are we on the cusp of hyperinflation?

Sep 8, 2011 - 6:03pm


I have lots of Crude USO calls.

I'm just checking back in here and seems like I haven't heard the latest news.

Doesn't sound good when I see the big guy referencing the end of days and crude calls...h'mmm.

I'm almost afraid to ask. But I do have a lot of calls

Sep 8, 2011 - 6:10pm

@DPH and Turd I just watched

@DPH and Turd I just watched a show on Bloomberg this weekend about the nat gas in that Israel has been finding. There is also shale oil too. The show was called EnergyNOW!

Here is a link to their episodes.

I find the show interesting it is on each week at various times on the weekend. If you get a chance tune in. It shows new advancing energy technologies, discusses energy hurdles, and discusses current legislation facing the US and other countries. I think folks here would find it interesting as well.

Northern Border
Sep 8, 2011 - 6:11pm

Outstandind article to read !!!

I came across this outstanding article posted on American thinker today. This article goes along exactly with the whole "End of the Keynesian Experiment" and the theme of Turd's blog.

I highly recommend that every takes 5 minutes to read this.


Sep 8, 2011 - 6:14pm


I am steadily selling into this Gold strength now. I will be wary of momentum chasing this Market, in my opinion it simply does not work that well because the thugs that rig prices see it coming.

And I will respect Gold as it gets more and more volatile and thrashes its way thru short term charts like an alligator moving thru the kiddie end of a country club pool.

Yes it closed strong at the highs and yes it looks to power further up. Just watch what happens in early morning though. Be ready on the West Coast and up between 1 a.m. and 2 a.m. and latest by 3 a.m. Who the hell knows but I just think the criminals love to target the momentum traders who buy strength.

This is just my opinion. In any other market it is correct action and is sound. You jump in when you see a thrust beginning. In this Market there is no real price discovery. Not until I can trade exclusively on the Shanghai index using their currency. That I look forward to. What I will miss then is the waterfall gifts given weekly to me by the Monkey operatives.

Sep 8, 2011 - 6:16pm

Actually, silver has the most conductivity

Gold comes in a close second. For electronics use, if gold wasn't rare, they'd use it for everything, seeing as how inert and unreactive it is, but they do use it in places likely to see dirt and grime (like the contacts for peripheral cards).

Gold does have a few industrial uses, but because it's more or less inert, it sees far fewer industrial uses than silver does. What makes silver less desirable as money, makes it more desirable as a chemical building block, basically.

Sep 8, 2011 - 6:23pm

Yeah, I'll take closing on the highs of the day

I mean, for 7000 contracts to be dumped on the sell side, this is quite amazing. Past years everyone would be screaming and this would be turned into a real rout. I could smell the fear on this forum a day or two ago.

I think that guy who wrote about the volatility being due to the commercials losing control of the gold market has some merit.

It could very well be they've lost complete control over gold and what we saw in August was just a tiny taste of what's to come.

It's a bull market, you know.

BillAuAg sevin
Sep 8, 2011 - 6:32pm

I was talking with a friend

For your reference

Material, Resistance, Conductance, K

Material ρ [Ω·m] at 20 °C σ [S/m] at 20 °C Temperature
coefficient[note 1]
Silver 1.59e−8 6.30×107 0.0038 [2][3]
Copper 1.68e−8 5.96×107 0.0039 [3]
Annealed Copper[note 2] 1.72e-8 5.80×107 [citation needed]
Gold[note 3] 2.44e−8 4.52×107 0.0034 [2]
Aluminium[note 4] 2.82e−8 3.5×107 0.0039 [2]
Calcium 3.36e−8 2.98×107 0.0041
Tungsten 5.60e−8 1.79×107 0.0045 [2]
Zinc 5.90e−8 1.69×107 0.0037 [4]
Nickel 6.99e−8 1.43×107 0.006
Lithium 9.28e−8 1.08×107 0.006
Iron 1.0e−7 1.00×107 0.005 [2]
Platinum 1.06e−7 9.43×106 0.00392 [2]
Tin 1.09e−7 9.17×106 0.0045
Lead 2.2e−7 4.55×106 0.0039 [2]
Titanium 4.20e−7 2.38×106 X
Manganin 4.82e−7 2.07×106 0.000002 [5]
Constantan 4.9e−7 2.04×106 0.000008 [6
Sep 8, 2011 - 6:32pm


Actually, some interpretations of the Book of Ezekiel claim that the newly reformed Israel will become very wealthy in the end times before the war of Gog and Magog.


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 4/22

4/22 10:00 ET Existing Home Sales
4/23 10:00 ET New Home Sales
4/25 8:30 ET Durable Goods
4/26 8:30 ET Q1 GDP first guess

Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

Key Economic Events Week of 4/1

4/1 8:30 ET Retail Sales (Feb)
4/1 9:45 ET Markit & ISM Manu PMIs
4/1 10:00 ET Construction Spending (Feb)
4/1 10:00 ET Business Inventories (Jan)
4/2 8:30 ET Durable Goods (Feb)
4/3 9:45 ET Markit & ISM Services PMIs
4/5 8:30 ET BLSBS