Craig Hemke from TF Metals Report – Thu 15 Oct, 2020

Gold Market Comments – Gold’s inverse correlation to the USD, low volume on the GDX, and CoT report updates

Craig Hemke joins me for an update on the gold sector. We start with the inverse relationship between the dollar and gold and discuss big picture how this relationship usually plays out. Next up is a look at the recent changes in the CoT reports for gold and the volume in the gold stock ETFs.

Click here to visit Craig’s site – TF Metals Report.

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Comments:
  1. On October 15, 2020 at 4:08 pm,
    Glenfidish says:

    Thanks guys for the editorial!

    The US dollar is toilet paper! The place to be is the cad and I have mentioned that a million times including the stocks. It’s called double dipping.. Mark my words the cad not only will it test the all time highs recorded at 1.10 monthly closing but it will exceed it.. I don’t know what the currency of choice will be in the future but cad has a date with much higher prices.

    With all this being said I need to clarify something. I don’t like drama or calling anyone out as I respect this contributor and his knowledge however I feel I was wrongfully pointed out and that I have an issue with.

    Why not go with Wolfsters rose coloured glasses??? Believe I called short term range bound between $1820-1900 for gold…..who knew short term was a few days.lol…….I’m with Matthew and think we have another move to new highs in gold before years end

    I did respond to wolf by telling him it was a great call. And by the way I did never make mention of anything negative towards his call. What I do have issue with is that apparently there is a team lol.. Team Matthew and I’m not part of it. How silly. For the viewers and for the many that have followed me In here and appreciate my constant updates, i have been more clear than anyone I’m here in regards to direction and even price ranges. I’m not 100% perfect but I’ve been right up there with any and I’m not here to toot my horn I’m here so I’m not being discredited or my reputation stepped on because I have shared all my knowledge with you guys as you have with me.

    It has been very clear, and very simple to go into the history that glen was the first to call$35-40 silver year end and my best friend Jerry laughed at me jokingly and than others jumped on board including Matt who said his charts now seen something different. I’ve been consistent with it and Matt has also been consistent. I have said many times that gold is headed higher and year end would be higher so I’m not sure how wolf came to this conclusion that glen does not see gold higher year end when all that was recently discussed was the low for gold and timing of the low. The low may be I’m but prices are still within my timing band. Which means my timing band may have not produced the low but it producers a lower level that is still yet to break out higher from higher highs. My point is this, before making remarks double check what that posters “ overall trend and history has been”.. I have always said once this intermediate cycle is completed we are headed higher so nothing new. Jerry and Tracy I can assure are my witnesses.

    Gold update!

    We are about to explode higher after this range but never ever rule out a lower low before an upward movement.

    • On October 15, 2020 at 4:30 pm,
      OOTB Jerry says:

      Hello Glen,
      Glad to see the update…and always appreciate your comments.
      I really do not have much to add to the above,
      and you are spot on …….Gold is headed higher.
      Oh,…are you sure it was me, who laughed…at your call on $35 silver……but, very well could have been, since, I did say long ago…..Silver needed to break $22 before any real
      excitement…My concentration has been on the gold, ….cup first… and a little bit of silver tea service next….. 🙂

      • On October 15, 2020 at 4:33 pm,
        OOTB Jerry says:

        Oh, Glen, ….you can always depend on us having your back….I think you make great points…..

      • On October 15, 2020 at 6:24 pm,
        Glenfidish says:

        Jerry,

        We both know that when i speak in my tone i would never ever insult you which means that what you originally said was glen that may be to optimistic. Which for me was mike wow! Jerry knows we are going much higher and my technicals are telling me we are going higher faster which I believe you kinda said glen “ really” that fast. That’s how i interpreted it. I know you never have bad towards me. 😉I also know me you Matt, Tracy and many others know we are in a healthy bull that we can make lots of mula.. I just don’t like being labeled on teams because I have a respectful relationship with Matt outside of here and with you guys. I honestly respect wolf because I have learned from him as well. But he is mistaken if he thinks I never said gold is going higher year end. My thing was the timing of the low. Regardless my timing band really is on par which wolf does not see.. most miners are still way below there all time highs including impact! We don’t have a breakout till next week or after… A true breakout on its way to test all time highs. That’s my point.. I was painted as something else 🤷‍♂️

        • On October 15, 2020 at 6:49 pm,
          OOTB Jerry says:

          Glen……….all is good, no problem here my friend……As I said, I always enjoy your info. and comments…

        • On October 16, 2020 at 4:59 am,
          Wolfster says:

          I’m not sure where or how any confusion was created Glen but I never have insinuated that you don’t see gold higher at year end….I merely agreed with Matts comment at that particular moment. I have been very busy so posting very little but still trying to keep up with what everyone one has been posting. Correct me if I’m wrong but the only point we may differ on is how much/long the correction/consolidation in gold will be. I’ve just been slightly more rosy in the near term but we both see higher by years end….sorry if my comment came across as slighting you, I honestly wasn’t even thinking of you at the time. I was merely commenting on Matthews comment…I respect everyone on this board and certain people such as yourself and Matthew I look forward to seeing comments from because I value them greatly. If I’m on a team as you put I’m on team KER..Cheers

          • On October 16, 2020 at 6:24 am,
            Glenfidish says:

            Wolf,

            There is no harm intended and like wise, I truly appreciate all your post and knowledge you are very good at what you do. Once again, if that turns out to be the low, it’s a great call. I believe Matthew may have said few days earlier mentioned something about many may think we are headed lower but bull trends tend to leave you behind.

            Keep posting and more often if possible. This move higher we all agree will be very strong. I’d like to get your and Matt’s perspective on possibly percentage or how high you guys see it going. If September 24 is the low, we are possibly looking at 2-3 possibly more months of upper movement.

            Cheers

      • On October 15, 2020 at 6:26 pm,
        Glenfidish says:

        By the way you nailed that cup Jerry!!

        • On October 15, 2020 at 6:54 pm,
          OOTB Jerry says:

          Glen……..thank you very much….
          .btw….I look for the same cup on silver….Jmo……

          • On October 16, 2020 at 6:35 am,
            Glenfidish says:

            Jerry,

            Exactly! That is why I went with a more aggressive mid term approach to the price of silver at that time. I blew up the charts and said if golds cup is made, wowsers silvers is truly lagging. Which meant code for silver is going to explode higher very soon into the upper range of that cup.

            😃🙌cheers amigo

          • On October 16, 2020 at 7:06 am,
            OOTB Jerry says:

            Cheers…….back to ya……….. 🙂

      • On October 15, 2020 at 6:32 pm,
        Glenfidish says:

        Tracy,

        Exactly! You are bang on and my voice of reasoning. This is exactly what I was trying to get across. There are many minds that thing and very few that think along. But the few that think are always miles above!!!

        I’m this forum there are to many bright heads.. I’m for sure thankful..

        • On October 15, 2020 at 6:59 pm,
          OOTB Jerry says:

          Glen, ….DT, is a great asset……as I said before…..He was the only one that I remember, that called the silver top at $49….the last time…..way before Dave Morgan….just saying…. 🙂

          • On October 16, 2020 at 6:26 am,
            Glenfidish says:

            If Tracy made that Call, wow!

            I would not be a bit surprised as we have An amazing Group I’m here.

            Cheers to all

      • On October 15, 2020 at 6:33 pm,
        Glenfidish says:

        Guys forever my spelling!

        I”m=In

    • On October 15, 2020 at 8:07 pm,
      blazesb says:

      Hey Glen. Is the cad going higher because canada’s economy is resource based and commodities can only go higher longer term?

      I enjoy your posts. Keep em coming.

      • On October 16, 2020 at 6:32 am,
        Glenfidish says:

        Hi blaze,

        I think your on to something 😉.. I believe what you say, combined with a race to devalue the currency much faster than canada is what will drive the US dollar down and cad up.

        From a technical point of view Matt has shared many charts which give you a greater weekly and monthly longer term picture. The second knock on the door when cad gets there may also be a spot we’re we “may” want to unload positions for a big correction. I’m of the thinking the third two would be the one to penetrate 1.10. We are quite sometime away from that but look for the cad to be strong into next year.

        Thank you for your comments hope to hear from you as well

        • On October 16, 2020 at 8:32 am,
          Wolfster says:

          Hey Glen I’m not saying you’re wrong on the cad call I will only say that the one fly in the ointment so to speak is the liberal govt They make the Democratics look tight with their spending and the huge deficits they are creating have to eventually bite them in the ass

        • On October 16, 2020 at 4:36 pm,
          Canuckski says:

          I wonder out loud if the turn up for CAD is due mainly to a trending turn down if US. If that’s the case, I wonder if developing countries (specifically Mexico) are going to see an upswing too.

          • On October 16, 2020 at 7:36 pm,
            Glenfidish says:

            Hey Canuck!

            Im not sure what it means for the Mexican peso but you hit a nerve in regards to Peter Schiff mentioning exactly that I’m his book about developing countries. He mentioned that at the peak of investments with gold/silver countries like Canada, India, Russia, México, a few others would do well.

            Since I personally live in Canada it’s much easier to be invested in the cad…

          • On October 17, 2020 at 9:02 am,
            Canuckski says:

            That’s exactly what I was thinking Glenfidish. I figured resource rich countries like Canada (I’m in Canada too) and Mexico (for the mining and potential for manufacturing) would stand to benefit if the theory proves true.
            I had been considering putting some $ into a fund that would tease out the above thinking. It would be more specific than pursuing a fund that deals in developing countries. Example: guys like Rob Arnott have been promoting some funds that focus on the developing world, but there’s a tendency for them to include weightings in China and Africa. They’ve been banking on the tide turning for the US for a few years now.
            I haven’t pulled the trigger yet, but I’m thinking it prob wouldn’t hurt.
            I wasn’t aware of Schiff’s thoughts on this, so thanks for sharing that.

    • On October 16, 2020 at 4:37 pm,
      Canuckski says:

      I’m a big fan Glennie!

  2. On October 15, 2020 at 5:17 pm,
    Dick Tracy says:

    Hi Glen, I feel there is no real alarm about the price of gold even though we are getting close to the third week of October. The consensus of opinion from me is that the storm of September has blown over. The gold market is readjusting itself into a more secure technical position. In short gold is going higher, the skies for gold and especially silver look bright. I don’t see a decline but an advance from here, that seems to have been your position for a while and I concur. Right now I am very excited about my silver equities and the possibility of a big push higher to close the year. Then I think it would be wise to re-evaluate at that time. DT

  3. On October 15, 2020 at 7:50 pm,
    Dick Tracy says:

    Hi Jerry, I posted this interview with Bob M about one week ago, the first part is political and if you haven’t listened in, I think you should as I believe it is very timely. DT

    https://www.youtube.com/watch?v=DxFsSAYuk9U

    • On October 16, 2020 at 5:58 am,
      OOTB Jerry says:

      Early morning, and just saw your note DT………I will listen, and thanks for the heads up….

      • On October 16, 2020 at 7:01 am,
        OOTB Jerry says:

        DT……..Bob was great as usual…….the lady interviewing Bob was a ding dong,…and is kind of scary , that she represents the youth of today….She did not have a clue about history.
        But , with that being said………BOB WAS SPOT ON……and I APPRECIATE the video.
        Bob, had some great comments on the miners.
        Bob’s Comment on gold, is exactly what I think.(that might be scary 🙂 )

        • On October 16, 2020 at 8:42 am,
          irishtony says:

          HI…..Glen / Jerry / Wolf / Blaze / DT…Great chat amongest you lot….Positive…

          • On October 16, 2020 at 8:52 am,
            OOTB Jerry says:

            Hi IRISH……..Is Boris going to get the job done on the Brexit……

          • On October 16, 2020 at 8:54 am,
            OOTB Jerry says:

            Sad to wake up to the fact……All THE GOVTs are CORRUPT…….

          • On October 16, 2020 at 8:56 am,
            OOTB Jerry says:

            Back to the beginning……….BOBBY, said the MASK are BS…. 🙂

          • On October 16, 2020 at 8:58 am,
            OOTB Jerry says:

            Man are there a lot of DING DONGS…..7 Billion people in the world, and the USA, INC, has more highly educated idiot than we need.

  4. On October 16, 2020 at 4:40 am,
    irishtony says:

    Off Topic….But i believe this needs to be seen , following on from nexflicks…”CUTIES”
    https://www.sgtreport.com/2020/10/disturbing-mkultra-and-child-abuse-paintings-displayed-on-billboards-in-italy/

  5. On October 16, 2020 at 4:55 am,
    irishtony says:
  6. On October 16, 2020 at 7:31 pm,
    Glenfidish says:

    Wolf,

    You make a valuable point in regards to the record spending by the liberals and all this covid money and bails outs we continue to see.. Initially you would think that this spending is bad for the cad and thus not being físcally responsible would call for a lower level, but the ace in the cards is the United States of America is printing at such an alarming rate that we would need 10x the presses to keep up! Peter schiffs first or second book he wrote mentioned this clearly that the US dollar would have a date with .58-.62 vs the cad.. I believe this will come true as he also nailed the housing bubble.