The KE Report

Craig Hemke - Gold’s Next Breakout? COT Reports Show Bullish Setup


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Today, Craig Hemke, founder and editor of the TF Metals Report, joins me for his regular Monday commentary on the precious metals markets. We start with a recap of last week’s market action following Jerome Powell’s remarks at Jackson Hole, which signaled that the Fed may be preparing for a September rate cut. The result: strength across equities, bonds, and precious metals, with the U.S. dollar the lone laggard.

Key Discussion Points:

  • Powell’s Jackson Hole speech and why a rate cut now looks all but certain.
  • Market reaction: broad rallies across assets, dollar weakness, and implications for gold and silver.
  • Insights from the latest Commitment of Traders (COT) report showing bullish positioning for both gold and silver.
  • Gold’s ongoing five-month consolidation and what could spark the next breakout.
  • The revaluation of junior mining stocks and what’s needed for the sector to continue higher.
  • Silver’s inertia and potential for a sharp move once momentum returns.
  • The seasonal setup heading into September and how upcoming jobs data could influence Fed policy.
  • Follow Craig’s work at TF Metals Report.

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