TFMR Podcast #9 - 8.12.13

16

Today, Turd covers the rally in prices, his concern over a not-so-Happy-Tuesday as well as technical targets for a continuation of the rally later this week.

  16 Comments

TreeTop Dweller
Aug 12, 2013 - 3:18pm

dream fulfilled?

What can I say...


Aug 12, 2013 - 3:19pm

If you haven't yet...

Please be sure to watch this. Pay particular attention to what this cat says between 1:30 and 2:30...

wildstylechef
Aug 12, 2013 - 3:31pm

YA

I'd be Turd!!!!

Waiting for gold to get above 1355 if we can do this we are off to the races as the momentum of the short squeeze will take us above 1450 in a short rush

EnglishTurdFan
Aug 12, 2013 - 3:40pm

Os this a free on or the first pay one?

Hi Turd,

Is this the last of the freebie podcasts or are you on pay per listen? The file is an m4a. I am all behind with mp3s!

EnglishTurdFan
Aug 12, 2013 - 5:01pm

This is satire. In no way is it meant to represent the truth!

This is satire. In no way is it meant to represent the truth! The Queen visited the BoE Gold vault some time ago.

If anyone knows the British satirical magazine Private Eye, these are the kind of things that tend to go on the cover of it, with speech bubbles. Here we go:

Igiveup2
Aug 12, 2013 - 5:29pm

5th

Hard to keep up with the action.

Green Lantern
Aug 12, 2013 - 7:00pm

I don't want to distract from

I don't want to distract from an excellent podcast!! Thanks Turd. But I think this article merit's as breaking news. Unless, I am late to it.

Syria Now Attacked With Tactical Nuclear Weapons

https://nuclear-news.net/2013/08/10/syria-now-attacked-with-tactical-nuc...

I haven't vetted the story but giving it to the community to do it's own diligence. I have to go do some peaceful things for awhile and clear my head.

Anybody know how gold reacts under the threat of nuclear war?


Aug 12, 2013 - 7:45pm

Sorry everyone

We had to disable today's podcast for a few hours.

it will be back up later tonight.

Dudley Do-Right
Aug 12, 2013 - 10:33pm

GL - Re Syria Nuke Attack

GL, check this out: this story apparently a fake, planted by pro-Assad Syrian hackers into a UK TV online blog that they hacked into - https://www.theregister.co.uk/2013/08/07/c4_hacktivist_defacement/

In the meantime, the item was picked up by the usual suspects, Godlikeproductions, beforeitsnews; also Iran's Press TV running with the story big time! The story of course was removed from the blog by Channel 4, the UK TV broadcaster that was hacked.

Wild or what?

Green Lantern
Aug 12, 2013 - 11:13pm

Yup, Dudley.   Looks like a

Yup, Dudley. Looks like a goose. Thanks for checking it out. Reading alternative media is sometimes alot of work. Have to do your own due diligence on every story.


Aug 13, 2013 - 12:07am

OK, sorry about that

The podcast is now available again.

RationalMind
Aug 13, 2013 - 2:38am

The Interviewer is deliberately misleading the discussion

1. She says gold is in contango, not backwardation.

2. After Mihir completes his comment about the 8 week delay (and spot being higher than future months at the 2:30 mark), she introduces the Bloomberg article (and hedge funds cutting gold bets) by using the term 'short interest in gold'.

Fishy smell.

Oboma
Aug 13, 2013 - 6:01am

NO backwardation according to dan again

i think that trader that turd posted even said there was backwardation. seems to be a complex matter


Monday, August 12, 2013

Gold Futures' Spread Continue to Tighten

I wanted to provide a quick update for those who are following the "backwardation" talk out there.

I am currently showing the August, October and December gold futures contract all at the same exact bid. Also, the December has a mere $0.80 discount to the February. The futures market has still not entered a backwardation state but it is just about there. I will continue to monitor this and report on it should it occur.

Also, thus far I have not seen anything that would signal any problems with the delivery process for the August gold contract but one thing that does stand out is that J P Morgan continues to be the consistent, large stopper of gold for their "House" account. Morgan is acquiring a lot of gold.

It is going to be interesting to see whether they retender it before the month ends or at some point during another delivery month process but either way, they are acquiring it right now.

I am still watching that $1340 level in the December gold contract. So far it is proving to be formidable resistance. Strength in the gold shares is helping keep a very firm bid in gold but it is silver that is really proving a great degree of lift to the yellow metal.

That push through $20.50 is squeezing the shorts and it now looks as if the metal has a decent shot at testing $22.00.

Downside support for silver is first at $20.50 followed by $20.

Incidentally, gold is moving higher in spite of the fact that the US Dollar is stronger today.
valvend
Aug 13, 2013 - 10:44am

The Gold Shuffle

Here is a link to Zerohedge showing where JP Morgan, HSBC and Scottia Mocatta are shuffling the Gold. https://www.zerohedge.com/sites/default/files/images/user5/imageroot/201...


Aug 13, 2013 - 2:56pm

Really enjoyed the podcast Turd

I think we've all been kicked around so often, had price drop out from under us just on the cusp of an important technical level so many times, that we are all still having a hard time getting into this rally. Perhaps the lack of exuberance over our nice little 20% rally in silver is a mark of the maturation of the community. Regardless, I think your call that we need to get and hold above the 22$ level is right-on... some time above there, and the accumulated short fuel Andrew Maguire has talked about may start to catch fire.

Being mature is fine and all, but all I want for Christmas (and preferably before Christmas) is a nice little Commercial Signal Failure... is that too much to ask? I think not.

¤
Aug 13, 2013 - 8:21pm

That would start the year off nicely

P4...That delivery failure on Christmas would make my 29 - Jan. '14 SLW calls very green & happy :-)

Subscribe or login to read all comments.

Contribute

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 6/10

6/11 8:30 ET Producer Price Index
6/12 8:30 ET Consumer Price Index
6/13 8:30 ET Import Price Index
6/14 8:30 ET Retail Sales
6/14 9:15 ET Cap Ute and Ind Prod
6/14 10:00 ET Business Inventories

Key Economic Events Week of 6/3

6/4 All day Fed conference in Chicago
6/4 10:00 ET Factory Order
6/5 9:45 ET Markit Services PMI
6/5 10:00 ET ISM Services PMI
6/6 8:30 ET US Trace Deficit
6/7 8:30 ET BLSBS
6/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 5/28

5/28 10:00 ET Consumer Confidence
5/30 8:30 ET Q1 GDP 2nd guess
5/31 8:30 ET Personal Income and Consumer Spending
5/31 8:30 ET Core Inflation
5/31 9:45 ET Chicago PMI