Anniversary Hat Contest

267
Thu, May 17, 2012 - 8:01am

As hard as it is to believe, this site will have it's 1st birthday on 6/14/12. Time sure goes fast when you're getting the snot beat out of you, day after day.

It's been a crazy 11 months but today is not the day for a retrospective. Today IS the day to start a new Hat Contest! Same rules as before. Submit your guess for the closing Comex price on Thursday, June 14 for the July12 silver contract and the August12 gold. Each winner will receive a genuine, 100% authentic and autographed Turd Ferguson hat. If any lucky Turdite manages to win both categories, I'll even throw in an original mint "silver Keiser" for good measure.

So, go for it! Enter your guesses in the comments section of this thread. I'll leave it open for entries through the Comex open tomorrow (8:20 am EDT) if you want to take a look at today's action before committing. Remember, all new Turdites have their initial comments sent into the "moderation queue" for approval. So, if you don't see your entry show up immediately, do not despair. Just give the mods and I a little time to find it and publish it.

I'm going to be out most of the day today so I won't be able to post a new thread until at least mid-afternoon. Please continue to use the "sticky" thread at the top of the homepage as your discussion/open thread. In the meantime, the nice rally overnight was derailed by euro weakness earlier today. Oh well. At least we are up a little off of yesterday's lows. Baby steps, everyone. To begin with, we need to stem the tide of the spec shorts. Then, we can reverse and squeeze them.

Have a fun day! TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  267 Comments

xaviercromartie · May 17, 2012 - 11:29am

Gold 1612 Silver 29.96

Gold 1612

Silver 29.96

iceman321_2k2 · May 17, 2012 - 11:31am

Hedge Funds and Gold

What are Hedge Funds Doing With Gold?

https://wallstcheatsheet.com/stocks/what-are-hedge-funds-doing-with-gold.html/

Billionaire fund manager John Paulson is known for betting against subprime mortgages during the housing bubble, but is also a vocal advocate for gold. Earlier this year, he said in a letter to investors, “By the time inflation becomes evident, gold will probably have moved, which implies that now is the time to build a position in gold.” His firm Paulson & Co. Inc. kept its large position in the SPDR Gold Trust unchanged at 17.3 million shares in the first-quarter and remains the largest holder of the ETF to date. However, the firm increased its shares in NovaGold Resources from 22.9 million in the fourth-quarter to almost 32 million shares in the first-quarter. Paulson also increased his holdings in IAMGOLD from 2.7 million shares to 3.8 million shares in the same period.

More than two years ago, George Soros, one of the most famous hedge fund mangers, warned at the World Economic Forum that gold was in a bubble. He claimed, “When interest rates are low we have conditions for asset bubbles to develop and they are developing at the moment. The ultimate asset bubble is gold.” Apparently, Soros had a change of heart. His management firm nearly quadrupled its exposure to the SPDR Gold Trust from 85,450 shares in the fourth-quarter to 319,550 shares in the first-quarter. Soros Fund Management also opened a new position through call options in Newmont Mining, one of the world’s largest gold producers.

RaRaRasputin · May 17, 2012 - 11:32am

Got me a hat but would love me a Keiser!

Back to the realms of the old high's? - wishing and hoping ;)

Gold $1887.62

Silver $47.02

Action like todays so far should do it :)

RaRa

SilverFocker · May 17, 2012 - 11:33am

With the Euro on a shit slide

this deflation pop is good for the Fed as long as it is moderate and short term........There will be no "Formal" QE for the minions to digest, at least for the summer.

Silver @ 26.15

Gold @ 1535

Sandiaman · May 17, 2012 - 11:35am

Predictions

Silver 37.66

Gold 1728

jaw777 · May 17, 2012 - 11:39am

let the rally begin with optimism

Gold - $1760

Silver - $37.50

balz · May 17, 2012 - 11:40am

My guess

Ag 36.66

Au 1766.66

wholetthedogsout · May 17, 2012 - 11:42am

Orco says Silver to 43.19 He

Orco says Silver to 43.19

He used the magical formula of a reverse HS, to get SH, then added TF for good measure, to derive the ominous abbreviation SHTF.

Candygram · May 17, 2012 - 11:44am

Happy Anniturdsary

My humble stab in the dark:

Silver $ 31.27

Gold $ 1598.75

diegeiro · May 17, 2012 - 11:45am

guess

Au: 1621.84

Ag: 30.12

This guess is as good as any, but I figure if I really want/need a hat I will probably have to buy one, but only if there is a Turdapalooza or Turdaroo cause I really don't need more stuff, except of course, a big yellow hat. :-)

leeson_was_framed · May 17, 2012 - 11:45am

Gold : $1720 Silver : $ 32.10

Gold : $1720

Silver : $ 32.10

Heart's Yours · May 17, 2012 - 11:47am

my guess

Silver 35.01

Gold 1756.06

Thanks for the last year TF. I put my donation to the site on monthly autopay. If you have not done so, I suggest that you do because the information gained from this site is PRICELESS.

justin99975 · May 17, 2012 - 11:49am

nice... good luck all...

yellow: 1680.75

hi yo silver: 34.33

Thanx Turd!

RaulP · May 17, 2012 - 11:52am

AU 1621 AG 29.88

AU 1621 AG 29.88

RightLeftWrong · May 17, 2012 - 11:54am

great post for today Turd!

​Silver $32.20 Gold $1725

grvdigga · May 17, 2012 - 11:55am

Maybe

Ag 30.84
Au 1711

thirteen · May 17, 2012 - 11:56am

I will hazard a guess

silver 31.15

gold 1712.15

thirteen · May 17, 2012 - 11:56am

I will hazard a guess

silver 31.15

gold 1712.15

thirteen · May 17, 2012 - 11:56am

I will hazard a guess

silver 31.15

gold 1712.15

batting500 · May 17, 2012 - 12:01pm

SIlver 21.82 Gold 1233.36

I will use my guess to 'hedge' my actual physical. So if this happens, I will be crying...but sporting a new hat!

I will take 20% off yesterdays closing prices call it a super bear 'hedging' guess.

Good luck to everyone...

batting500

RTMoney · May 17, 2012 - 12:03pm

Big Yellow Hat

Ag - 28.64

Au- 1594

geminiRX · May 17, 2012 - 12:04pm

Forecast

Au - 1666.66 Ag- 30.66

Riides · May 17, 2012 - 12:05pm

Au 1745.50 / Ag 33.56

Gold = 1745.50

Silver = 33.56

Looking for the Au/Ag ratio to close a little by this time next month.

Magpie · May 17, 2012 - 12:09pm

Bang, zoom, straight to the Moon!

$1813

$35.55

(achmachat.....2012 Cougars came out in the fall of 2011. The g-kids received them last Christmas. Already been fondled and stashed. smiley )

Charles S. Hamlin · May 17, 2012 - 12:11pm

Gold/Silver guess

I will guess the following:

Gold $1645

Silver $31.85

Good Luck To Us All!

question · May 17, 2012 - 12:12pm

?????????

And the answer isenlightened.......

Yellow shiny: $1712.34

White shiny: $35.84

Gold Dog · May 17, 2012 - 12:13pm
TheRajMan · May 17, 2012 - 12:15pm
BUDDHA PRINCESS · May 17, 2012 - 12:17pm

Daily Delivery Report

It was a nothing day for deliveries...and the CME's Daily Delivery Report showed that only 3 silver contracts were posted for delivery tomorrow.

The GLD ETF showed a tiny withdrawal of 16,253 troy ounces, which was probably a fee payment of some kind...and there were no reported changes in SLV.

Over at Switzerland's Zürcher Kantonalbank, both their gold and silver ETFs showed minor withdrawals of metal as of the close of trading on Tuesday. Their gold ETF showed a decline of 80,814 troy ounces...and their silver ETF declined 44,368 troy ounces.

The U.S. Mint had another sales report. They sold 1,500 ounces of gold eagles...4,000 one-ounce 24K gold buffaloes...and 275,000 silver eagles. This brings the mint's month-to-date sales up to 36,000 ounces of gold eagles...5,500 one-ounce 24K gold buffaloes...and 1,410,000 silver eagles.

There wasn't a lot of activity over at the Comex-approved depositories on Tuesday. They reported receiving 300,253 ounces of silver...and shipped a smallish 13,894 ounce of the stuff out the door. The link to that action is here.

By Ed Steer Gold & Silver daily

ferretflat · May 17, 2012 - 12:21pm

My last purchase price

My last purchase price should be a good guess.

gold $1641.11

silver $31.07

Notice: If you do not see your new comment immediately, do not be alarmed. We are currently refreshing new comments approximately every 2 minutes to better manage performance while working on other issues. Thank you for your patience.

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