Thursday Conversation - James Turk


It has been a long time since we've caught up with Mr. Turk....way too long, as a matter of fact. But we correct that issue today with this podcast that contains all sorts of valuable information.

James is currently stuck in London but this has given his first-hand perspective on the current troubles of the LBMA, the CME and their global gold market. Among the items discussed in this podcast:

  • Issues facing The Banks as the year began
  • What took place as spreads blew out on March 24
  • Ongoing signs of physical stress in London
  • The significance of bullion banks quitting the LBMA
  • Why/how the GLD utilizes Bank of England gold for its "inventory"
  • And much, much more.

Many thanks to James for his time today and we promise to have him back on again soon. In the meantime, please be sure to follow James on Twitter @FGMR and you should always try to keep GoldMoney in mind whenever you are in the market for bullion:



May 15, 2020 - 8:47am

Jr Miners are still underperforming

As evidence via GDXJ.

Anyone shorting mining stocks will have a religous experience.

May 15, 2020 - 8:46am


Nice to see where the onegold account in silver is up 15 percent over purchase price. Not worried about APMEX premia, can do better at the LCS, where they've been selling constitutional silver at 13x

May 15, 2020 - 8:45am

McHugh last nite

" Gold rose sharply Thursday, and finally broke out higher from its sideways triangle pattern, as expected. Silver also broke out higher from its sideways pattern. Triangles are continuation patterns, meaning the direction of prices headed into the pattern will be the direction they leave the pattern, in present case, that would be up. Gold has formed an inverse Head & Shoulders bottom pattern with an upside price target about 200 points higher than they closed at Thursday. See chart on page 46. "

May 15, 2020 - 8:38am

US retail sales historically awful

BREAKING: Retail sales plunge a record 16.4% in April, vs 12.3% drop expected

— CNBC Now (@CNBCnow) May 15, 2020
May 15, 2020 - 8:35am
May 15, 2020 - 8:15am

Nice start to the day

Spike at 7:00 CT.

Comex silver opens in 11 minutes. Again, if we can somehow hold above $16.50 through the close....

May 15, 2020 - 8:13am

you should get some

All it usually takes is one ounce. Hold it in your hand. Feel the weight and density. And you'll want more.

May 15, 2020 - 7:22am

Holy crap Batman

Holy crap Batman

I step away and G S run like scalded dogs

I sucked it up and am back in JNUG in premarket at are now clear for the crash.

Gdxj should break 44 with silvers big run. Only being up .51 from yesterday's close??? Seems like theres a big breakout coming.

...unless the...nah

J Siefert
May 15, 2020 - 3:10am

Charles De Gaulle

I was a young man, 25 at the time, when I heard de Gaulle's speech about gold and how the US was handing out IOUs for real things produced by foreigners using real capital. Then ALL the papers in the UK demonized him and at the time I believed them. A couple of decades later I thought about it differently and went over to converting all excess savings to gold coins.

Here de Gaulle's speach....

May 15, 2020 - 1:39am

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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

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

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