TF Metals Report

TFMR Podcast - Tuesday, May 12

info@tfmetalsreport.com (TF Metals Report) — Tue, 12 May 2026 16:03:51 -0400

With TF

What an interesting day. PM prices fell overnight but then tried to bounce after the CPI. They were then hammered lower again late morning before rallying back this afternoon. And now the shares have turned green, too. A good sign for tomorrow? Maybe. Let's see how the PPI looks first.

For today, there's a lot to wrap up and discuss. It feels like it has already been a long week but...

CPI Hot, POSX Hotter

info@tfmetalsreport.com (TF Metals Report) — Tue, 12 May 2026 10:24:58 -0400

By TF

34 Comments | 14 Likes

The CPI report for April came in slightly hotter than expected today, pushing rates and the POSX higher. This exacerbated some PM price weakness overnight but, as I type, CDS is back into the green on the day.

Let's start with the CPI. Again, I think tomorrow's PPI will be more interesting but what do I know?

Rates are up on the day and so is the POSX:

War worries...

TFMR "Podcast" - Monday, May 11

info@tfmetalsreport.com (TF Metals Report) — Mon, 11 May 2026 17:29:53 -0400

By TF

46 Comments | 23 Likes

I seem to have found some decent airplane WiFi this afternoon so let's give this written "podcast" summary a go after what was a great day for the PMs and mining shares.

First of all, that this happened on a Monday is interesting, given the string of bad Mondays we've had since the Iran War began. I recall adding up the net loss of the nine Mondays since early March and it exceeded $...

Crude Up. Silver Up?

info@tfmetalsreport.com (TF Metals Report) — Mon, 11 May 2026 08:57:00 -0400

By TF

61 Comments | 21 Likes

An interesting turn of events to start your new week. Since the Iran War began, rising crude oil prices have been considered "inflationary" and have led to higher interest rates, a rising POSX and falling commodities. But not today.

Now one day does not make a trend but this seems to be noteworthy. We noticed this last evening when, after the usual Sunday open of higher crude and...

TFMR Podcast - Saturday, May 9

info@tfmetalsreport.com (TF Metals Report) — Sat, 09 May 2026 11:30:29 -0400

With TF

108 Comments | 22 Likes

It's time to wrap up what was an eventful week and the charts are starting to look somewhat compelling so please carve out some time this weekend to give this podcast a listen.

Let's get right to it. After the weekly wrap-up monologue, we review these images:

More BS From The BLS

info@tfmetalsreport.com (TF Metals Report) — Fri, 08 May 2026 10:05:05 -0400

By TF

44 Comments | 19 Likes

Today brought the April "jobs report" and, as per usual, it was full of fun and foolishness. Not only did the headline number come in above 69 of the 73 "expert predictions", the latest revisions to February and March made for some excellent early morning comedy, too.

Let's start with the reported data. Headline number up, unemployment rate flat but, perhaps most importantly, average...

TFMR Podcast - Thursday, May 7

info@tfmetalsreport.com (TF Metals Report) — Thu, 07 May 2026 16:23:02 -0400

With TF

45 Comments | 18 Likes

A surprisingly fun day came to a crashing halt by the same old, unsurprising headlines of continued strife in the Persian Gulf. Maybe things will turn back around tomorrow? Maybe. One thing we know for sure, though, is that tomorrow will bring the latest iteration of the BLSBS. So, there's that.

And all of that should make for an interesting day. In preparation, here's a lengthy...

Those Old Adages

info@tfmetalsreport.com (TF Metals Report) — Thu, 07 May 2026 09:38:44 -0400

By TF

42 Comments | 16 Likes

Earlier this week, I lamented that the tried and trusted TFMR adages no longer seemed to be working, at least during this period of headline-driven war markets. But then, lo and behold, old TFMR Adage #1 steps in and bails out the reputation of both with a massive rally that began just as things looked the worst back on Monday.

For anyone new or in need of a refresher...

...

Guest Podcast: "Grizzled Veterans Roundtable"

info@tfmetalsreport.com (TF Metals Report) — Wed, 06 May 2026 11:14:00 -0400

With TF

59 Comments | 23 Likes

It has been a while since we last heard from our Grizzled Veterans and, with my schedule this week, what better time to get their latest opinions on everything precious metal.

If you're wondering just who these Grizzled Veterans are...they're three of you favorite members and regular contributors to this site: Mickey, Dr. Jerome and AGXIIK...and they self-admit to having a combined...

Rumors Of Peace, Part V

info@tfmetalsreport.com (TF Metals Report) — Wed, 06 May 2026 10:28:05 -0400

By TF

30 Comments | 14 Likes

The "markets" have been goosed again today on rumors of peace in Iran and the Strait. Already, however, there have been denials and retractions so how long might this morning's gains persist?

And, frankly, it doesn't matter to me. It has been such a long slog that any day where prices are green seems like a relief and a breather. As such, I'll take it...even if it's just another...

TFMR Podcast - Tuesday, May 5

info@tfmetalsreport.com (TF Metals Report) — Tue, 05 May 2026 16:55:39 -0400

With TF

50 Comments | 20 Likes

As my old man used to say...Today is better than yesterday but you know what a bad day yesterday was. And at this point, any day that finishes even a few pennies in the green seems like a gift from heaven.

So let's get caught up today. It has been since Thursday that we've had a spoken podcast and tomorrow will bring a special "Grizzled Veteran" roundtable. As such, let's dive right...

Navigating The Minefield

info@tfmetalsreport.com (TF Metals Report) — Tue, 05 May 2026 10:25:10 -0400

By TF

34 Comments | 17 Likes

At mid-day Monday, it appeared that all heck was about to break loose in the MENA with the worst possible outcomes on the table. In a major relief, Tuesday has not brought significant escalation...at least not yet.

Here are some of the latest headlines from ZH:

So, apparently, Iran attacking the UAE infrastructure is "below the threshold of restarting major combat operations...

Special Podcast - Tom Kleeberg, COO of MetalSource Mining

info@tfmetalsreport.com (TF Metals Report) — Mon, 04 May 2026 14:00:00 -0400

With TF

43 Comments | 16 Likes

You may recall that we first introduced you to MetalSource Mining back in January. Despite everything that has taken place in the world since, the stock is up over 50%. Why? Well, today we visit again with COO Tom Kleeberg so that he can elaborate on all the exciting developments.

Let's start with where we left off. If you missed the podcast in January...or if you need a refresher......

Another Crappy Monday

info@tfmetalsreport.com (TF Metals Report) — Mon, 04 May 2026 09:41:32 -0400

By TF

31 Comments | 19 Likes

It's Monday and, since late February, that can only mean one thing....another crappy start to the week for the Comex PMs.

To be fair, not every Monday has been terrible but, more often that not, we've begun the week very poorly ever since Trump's ill-fated attack on Iran that began Saturday, February 28:

March 2: +64
March 9: -55
March 16: -59

TFMR "Podcast" - Saturday, May 2

info@tfmetalsreport.com (TF Metals Report) — Sat, 02 May 2026 10:42:16 -0400

By TF

78 Comments | 23 Likes

I had promised you a podcast this morning but, instead, you're getting a "podcast". What gives?

It's another Saturday where the weekend began with a dump of the PMs into the Globex close. It wasn't as bad as some of the other late Friday dumps we've seen of late but, once again, it sets us back going into the Sunday reopen. We'll restart with CDG already down $20 and with CDS down...