Craig Hemke from TF Metals Report – Thu 16 May, 2019

New open interest contracts in gold just this week are keeping a cap on price moves

Craig Hemke is with us today to share his thoughts on the increase in open interest contacts in gold that popped up this week. We also discuss the move into safe haven assets while gold is simply holding within a range.

Click here to visit Craig’s site for more metals focused commentary.


Comments:
    • On May 17, 2019 at 9:03 am,
      OOTB Jerry says:

      Old gold , takes it on the chin……..and the gut …….

      • On May 17, 2019 at 9:06 am,
        OOTB Jerry says:

        Bitcon……is taking the dummies to the wood shed…….

        • On May 17, 2019 at 9:25 am,
          b says:

          Notice bitcoin is moving with gold?

          Some people say that silver is gold on steroids, looks like bitcoin is on its own steroids.

          Gold just went up $20, bitcoin went up a $1000, gold dropped $25 bitcoin down $1000.
          Percentages look pretty steroidish.

          • On May 17, 2019 at 9:32 am,
            OOTB Jerry says:

            BitCON…….is taking a life on it’s own……from what I read, there are only 375 major players in the Con…do not know how accurate that is……just saying….JPMorgan is in on the con……so , that should tell everyone , nobody , is going to win.
            HERE IS THE CON…….
            https://www.zerohedge.com/news/2019-05-17/cme-introduce-gold-silver-futures-speed-bump-end-hft-manipulation

          • On May 17, 2019 at 9:34 am,
            OOTB Jerry says:

            Wonder if, Max Keiser is in on the con……….?

          • On May 17, 2019 at 2:29 pm,
            b says:

            Con or not Keiser made millions.
            He screamed forever to buy bitcoin from $3.00
            He said he started telling people before that but for a conman he was pretty right on.

            There is still a chance bitcoin is here to stay and if it is, the goldbugs are gonna look darn silly for alot of years.

          • On May 17, 2019 at 2:32 pm,
            b says:

            Especially if Armstrong and Dent prove to be correct, there are others but they were the first I recall saying gold had a ways to come down.

            Actually thats not true, bird was the first I noticed.

          • On May 17, 2019 at 3:02 pm,
            Matthew says:

            I doubt that Bird was ahead of permabear Dent. Dent was probably calling for $200 when Bird said $900.

          • On May 17, 2019 at 3:21 pm,
            OOTB Jerry says:

            b……..you have any bitcoin…….if, not………you did not listen to Max… 🙂

          • On May 17, 2019 at 4:11 pm,
            b says:

            I couldnt figure out how to do it, and didnt really put in an effort to buy it as I didnt see a need for it.
            Too bad they didnt call it tulip bulbs.

  1. On May 16, 2019 at 2:48 pm,
    Bob Grierson says:

    Craig

    So much for your ‘cap’ on price moves.

    • On May 16, 2019 at 3:18 pm,
      cfs says:

      Actually housing is so expensive in San Francisco, houses are muli-occupied, so changing the zoning, might loosen up adding kitchen/bathrooms to existing structures, which might improve things. There are too many homeless/living in campers and cars.

      • On May 16, 2019 at 3:25 pm,
        OOTB Jerry says:

        Supply and demand…………

        • On May 16, 2019 at 3:27 pm,
          OOTB Jerry says:

          Those living in vans and campers…….I bet , will not be able to afford the rent, even if, the units are broken into smaller units….

          • On May 16, 2019 at 3:29 pm,
            OOTB Jerry says:

            Is there a DRUG PROBLEM…..in that homeless population…..

          • On May 16, 2019 at 4:09 pm,
            cfs says:

            There’s a drug problem all over San Francisco.
            You can’t leave anything in a parked car and expect it to be there when you get back.
            You’re lucky if they use a tool to open the door instead of busting a window.

  2. On May 16, 2019 at 3:12 pm,
    cfs says:

    A cartel of Banks led by Citi were fined $1.2 Billion for manipulating the foreign exchange market.

    Stock market option expiration for May is tomorrow.

  3. On May 16, 2019 at 3:29 pm,
    cfs says:
  4. On May 16, 2019 at 4:44 pm,
    Ebolan says:

    Dang, could you even imagine this idiot as Emperor???

    https://youtu.be/ipC28i4cy94?t=1650

    Considering the sheeple….it’s very possible.

  5. On May 16, 2019 at 4:48 pm,
    cfs says:

    Grant williams on gold manipulation:

    https://www.youtube.com/watch?v=zpJLARG-GEc

  6. On May 16, 2019 at 6:38 pm,
    David says:

    There is an unemployment problem among the homeless which is falsely reported by the government. There is cost of living problem experienced by the homeless which is falsely reported by the government. There is a corruption problem with Central Banking that is ignored by the government. There is a deregulation problem with the government that is threatening the legal system of the US and contributing to the unemployment problem and the homeless problem. There has been a transfer of wealth from the US Treasury to corporate and banking interests affecting employment, wage equality and homelessness. There has been a breakdown in the checks and balances if the three branches of government with the agenda being special interests versus the Constitution, with specific attacks against the rule of law for the interests of men.

    • On May 17, 2019 at 12:57 am,
      JMiller says:

      David,

      You said that there is an unemployment problem and a cost of living problem among the homeless which is falsely reported by the government. What exactly is the government falsely reporting concerning the homeless.

      • On May 17, 2019 at 4:30 pm,
        David says:

        Shadowstats.com

        • On May 17, 2019 at 6:19 pm,
          JMiller says:

          Shadowstat’s unemployment rate is bogus. The unemployment rate is not no 20%. More closer to 10%. I thought that you were referring to some actual report about the homelessness by the government. Also the average inflation rate for most people is around 5%. John Williams reported inflation rate of 9 or 10 percent is only for those that buy their own health insurance which is only about 10% of the population.

          • On May 17, 2019 at 6:28 pm,
            Matthew says:

            You have it backwards, JMiller. The politically motivated BLS is bogus. The same goes for the BLS inflation data.
            http://www.shadowstats.com/alternate_data/unemployment-charts

          • On May 17, 2019 at 7:28 pm,
            JMiller says:

            Well Matthew, even John Williams says that the government’s BLS reported unemployment rates, like the U-3 and U-6, are correct. What the government fails to include is the number of long-term unemployed “discouraged worker” (those who have not worked or looked for work for more than a year). If you add the estimated number of long-term unemployed to the U-6 unemployment rate (which is the broadest measure that the government uses), then you get a number around 10% or a little higher. However, what William’s does is adds people who were displaced because of NAFTA even though many of those people have subsequently got another job, retired or even died. Sorry but I do not include those people as been unemployed. According to Wolf Ritcher the employment rate was never meant to be exact. Just a general indication of the economy. The unemployment rate is much lower today than it was 10 years ago without doubt. Most places in the U.S has seen a noticeable improvement in economic conditions. We have not been in a depression nor recession for the past 10 years like some morons say

            And when it comes to the inflation rate, a loaf of bread, gallon of gas, and most items have not doubled in price in the last 7 years. Some things have but most have not.

          • On May 17, 2019 at 8:09 pm,
            Matthew says:

            I’m not interested in arguing this further but have to point out that Williams is an economist who runs a business that is dedicated to providing what the market demands: accurate information. There is no incentive for him to turn out “bogus” information and would likely have disappeared long ago if he did. This statement does not prove anything, of course, but judging by the caliber and number of financial professionals who think highly of him, it’s safe to say that he’s not incompetent or out to mislead as the the word “bogus” implies.

            As for the inflation stats, if he’s way off then so too was the government before the Clinton administration. The fact is, the gov DOES have a strong incentive to understate inflation and has increasingly done so for the last 30 years.

            Your focus on the prices of specific consumer items is a mistake that the Keynesians want you to make as such an approach implicitly assumes that, absent the Fed’s funny money, prices would be flat. This is not true. The natural state of sound money is one of INCREASING purchasing power over time. Therefore, you have to look at the gold price to determine what’s really going on with your currency. Gold today is sitting at 5 times what it was at the lows of 18-20 years ago for a reason. The stock market is trading at less than half of its 2001 gold value for a reason as well: the economy is not doing nearly as well as you think.

          • On May 20, 2019 at 3:27 am,
            paul says:

            JMILLER – You are correct. John Williams has said in some of his interviews that the unemployment rate released by the government is correct according to their methodology. What Williams does is he takes the U6 unemployment rate and adds to it his estimated of long-term discourage and displaced workers, which the government does not count, to get his estimated unemployment rate. He admitted that his estimate may be high, May be? More like is. The economy is better than it was back in 2008 without question and so should the unemployment rate. Matthew fails to understand this. Matthew also seems to think that you are saying Williams inflation rate is wrong. You are not. You are making a correct observation that the things that have increased the most in the last 8-10 years, such as healthcare insurance and tuition, most people are not directly impacted by. Most people get their health insurance through their employer or Medicaid/Medicare. Same goes for tuition. For most people, their personal inflation rate is much less than 10%.

            And as far as gold goes, it has lost a lot of purchasing power over the long-term (30-40 years).

          • On May 20, 2019 at 7:01 am,
            Matthew says:

            Paul, you are incorrect. I know what John Williams does and I understood JMiller’s claims.
            I now also understand that you are as misguided as JMiller is and do not know the difference between price changes and purchasing power changes.

            What I might struggle to understand is the very common delusional condition that causes so many to think that they know more than they do. There is nothing “bogus” about what Williams does and it is both ignorant and irresponsible to flippantly say that there is.

          • On May 25, 2019 at 10:03 am,
            JMiller says:

            Bravo Paul!

  7. On May 17, 2019 at 12:01 am,
    Matthew says:

    SGTreport had a goofball guest that thinks tariffs and the loss of purchasing power they bring are just fine…
    https://www.youtube.com/watch?v=LWuC2BP2aXw

  8. On May 17, 2019 at 6:15 am,
    OOTB Jerry says:

    I think AOC is onto something……going to tick off the cartel
    https://realcurrencies.wordpress.com/2014/06/05/capitalism-is-jewish-usury/

    • On May 17, 2019 at 6:16 am,
      OOTB Jerry says:

      Usury is Plutocracy. Compound interest makes it unavoidable that the very richest own everything in generations.

  9. On May 17, 2019 at 7:46 am,
    cfs says:

    Off Topic:

    North Korean Missiles

    The recent launches of shorter range missiles appear to be the equivalent of Russian SS26’s.
    These missiles almost certainly were not developed in North Korea, but have been sold to North Korea.
    The question is: Did they come directly from Russia or China or via some intermediary?
    These missiles, althougn not ICBMs, do represen an up-grade in technological ability for North Korea, in that they are solid fuel, instead of liquid fuel, AND are more accurate, allowing targetting of specific building locations in South Korea.
    Similar missiles were placed by Russia in Syria, so Syria is a possible source.

  10. On May 17, 2019 at 7:49 am,
    Bonzo Barzini says:

    Matthew, I bought more IMBBY@27.19 yesterday and it is now 27.45, so I hope the bottom is in. It goes ex-div next week.

  11. On May 17, 2019 at 9:05 am,
    cfs says:

    Spygate: How dirty is Mueller? Treason, in trying to impede Trump!

    https://youtu.be/3JUCavbSSyI?t=3389

    • On May 17, 2019 at 10:39 am,
      OOTB Jerry says:

      Not much imagination needed on that quiz……………lol

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