Craig Hemke – Recapping the run in gold and gold stocks since the Fed meeting, and rumors on possible Fed Chairman

November 12, 2021

Craig Hemke, Founder and Editor of TF Metals Report joins us to recap the moves in gold post last Wednesday’s Fed meeting and statement. On the back of higher than expected inflation data precious metals have broken above some short term resistance levels and the stocks have joined in on the rally. We also have Craig share thoughts on if Jerome Powell will be replaced as Fed Chairman.




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

    Nov 12, 2021 12:26 AM

    ESKYF – sold entire position @ $2.69

      Nov 12, 2021 12:30 AM

      Added to FSM @ $3.95, $4.00

        Nov 12, 2021 12:55 AM

        Last tranche FSM $3.90 filled

          Nov 12, 2021 12:35 PM

          MMNGF – Sold 70% @ $.46

            Nov 12, 2021 12:26 PM

            There has been a nice pop in Metallic Minerals lately, but I’m holding onto my position for higher prices and want to see them put out some more drill assays in the near future that may get investors focus. If they are anywhere close to the kinds of results Alexco has put out over the past few years, then they may raise a few eyebrows…

            Nov 12, 2021 12:20 PM

            I agree with Marty and Ex regarding FSM. Today was a huge over-reaction. I’ll be purchasing in the near future. Picked up some more USAS today.

          Nov 12, 2021 12:22 PM

          Marty, as much as I didn’t like the merger between Roxgold and Fortuna, and sold out of my ROXG shares when the news surfaced, I believe Fortuna may have been slammed down too hard today, considering they had a pretty good Q3 operations report, so I put an initial fishing pole in the water this afternoon at $3.86. Good trading to you sir.

            Nov 12, 2021 12:45 PM

            Arcadian Economics released a piece in today’s last hour of trading concerning FSM and all that’s going on with the company with Fortuna’s CEO and Dave Kranzler. I’m not a big fan of that channel ,l listened after I had tranched in 3 distinct times today into FSM.

            Nov 12, 2021 12:56 PM

            Went all in selling puts on FSM near the lows. If I get put those shares it’ll be a very good price. Also bought some LEAP calls.
            Some time ago, considered doing the same with IAG but backed off mostly because the Cote project seemed too far off.

    Nov 12, 2021 12:34 AM

    Crypto trade is HARAM, largest Muslim nation’s religious council rules

    “Cryptocurrency trading has been deemed ‘haram’ – or forbidden – by one of Indonesia’s top religious ”

    We’ll have to thank Moslems for more dollars heading golds way. 😉

    . Islam considers commodities with intrinsic value as currency. The following are some examples of commodities that can be used as currency: gold (as Gold Dinar), silver (as Silver Dirham), dates, wheat, barley, and salt.

    Nov 12, 2021 12:02 AM

    Reference the Fed and whether Powell is retained. I would refer everyone to Wall Street on Parade and one can read about the massive corruption with Fed Presidents “insider trading” and having to resign. Requests for trading information have so far been blocked in violation of the Freedom of Information Act. It is also an issue as to whether Powell himself has been insider trading. This is not necessarily a “party” issue but a significant part of the “corruption problem”. Couple this with all the felonies the “corporate person” has picked up in the Member Banks that “own” The Fed, the corruption is being noted throughout the entire Fed System.
    At what point does someone act even if most of Congress is funded by the Banks and Corporations through Citizens United. Do we continue to recognize blatant corruption in the Fed and allow them to continue to protect themselves from audit for the good of the “public” or do we call them what they are, thieves, and clean house. When does someone in the Federal Legal system do their job or will they continue to “sell out the people” and continue to allow the massive transfer of wealth to the few of the contents of the current/future contents of the US Treasury.

    Nov 12, 2021 12:32 AM

    He put all those pieces together and seems pretty clear what’s going to happen. Glad to have listened.

    Nov 12, 2021 12:36 AM

    In a crash that brings about a Depression, usually Inflation comes before Deflation, I would rather see Deflation than Hyperinflation. DT

      Nov 12, 2021 12:14 AM

      That’s an interesting point DT. Higher energy prices usually surface before a deflationary recession, and we’ve definitely seen that. It wouldn’t surprise most people after a 12 year run to nosebleed levels in the general markets and government intervention from “too big to fail” “cash for clunkers”, pushing clean energy forward at the expense of cheaper fossil fuels, juicing markets with artificially low interest rates, helicopter money stimulus checks and “business” PPP loans, a year of rioting and burning down 60 US cities in the “summer of love and equity” in 2020, and 2 years of lockdowns that crushed the small business sector and caused millions to lose their jobs, if we do see a recession start in the next 12-18 months…. after we finish this inflationary leg of the journey into fiscal and monetary madness.

    Nov 12, 2021 12:21 AM

    A large pending issue is whether democracy survives. If it doesn’t, all these concerns become a “personal problem” as a non-democracy form of government will not care about the individual as maintaining the security and wealth of the ruling class will be the only concern.

      Nov 12, 2021 12:58 PM

      Lakedweller, it sounds to me that you think we have Democracy, OH, OH! I don’t think we are on the same page. DT

      Nov 12, 2021 12:00 PM

      It’s touch and go on a Democracy. There is a movement to not have a legal system but rather a Facist State without a Constitution. That will only work for a few for a short time. A lot of misdirection and when the legal system is disregarded, all freedom will be gone no matter how many guns people have. They will only shoot each other and all property and wealth will be in the alternative universe from the populace. Criminals need to go to jail and not tolerated or worked around. Corruption is a parasite and not an alternative.

        Nov 12, 2021 12:22 PM

        The fascists will have an interesting definition of ‘criminal’. It’ll be really wunderbar.

    Nov 12, 2021 12:58 AM

    BOIL day, natural gas -retest or double bottom test today…A larger ABC down(white) …..A smaller ABC down(blue)…Those establish the buy the D point of a Gartley buy pattern..also nearing the perfect time symmetry of highs and lows…Good enough…took the boil….cookin…no idea, nat gas very volatile..bang bang……glta

      Nov 12, 2021 12:52 PM

      Larry: I think Europe would appreciate if you could send some of that BOIL left over from today as they are probably going to need that and as much NG as someone can send them. Europe may help push that bottom area into a fire pit at some point… 🙂

        Nov 12, 2021 12:53 PM

        Lake…all i know is that thing moves 6 to 10% moves per day…crazy….🔊🔆

    Nov 12, 2021 12:00 PM

    Jerome Powell Can’t Sleep
    Portfolio Wealth Global – 11/12/2021
    “Inflation is absolutely crushing savers in 2021! If you’re in the lower-income brackets and not capitalizing on the hottest jobs market in decades, by improving your skills and training, you’re literally seeing everything in your life rising in price. And there’s not much you can do about it until this supply chain nightmare unwinds.”

    “Even then, housing rents continue to go up and in 2022 they’re expected to go way up!”

    “U.S. consumer prices soared 6.2% YoY in October, far higher than expected and accelerating from September’s results.”

    “These numbers pressure the FED into acting, but Jerome Powell has already said numerous times that he is not worried, that he thinks the FED has the right pulse for things, and that because of the distortions in the economy, we’re seeing temporary occurrences that are hard to predict or time. This just creates trust issues for Powell, who looks to be wrong more than he’s right.”

    Nov 12, 2021 12:41 PM

    The goal of the Fed has been inflation because the debt is too massive to pay including the derivative debt fiasco of its member banks. They are going to steal as much as they can while they can, while eroding the value of the debt and the value of the country and its people. They have painted themselves into a corner that has a trap door. Someday they will disappear from the corner, but the debt will remain behind as their legacy.

    Nov 12, 2021 12:34 PM

    Wallbridge was another mining stock that took a hit today.

      Nov 12, 2021 12:08 PM

      Yep, Wallbridge has been selling off this week because the market had unrealistic expectations about where their resource estimate would come in as way up in the stratosphere, and instead it only came in great with 2.6 Million ounces of gold indicated (and 4.2 million ounces in all categories) in just 3 years of exploration. That is actually amazing and puts 99% of exploration companies to shame, but the market expected 5-10 million ounces because they drank too much blue sky koolaid. Their average grade is also much higher than what Kirkland Lake is mining next door at the Detour Lake mine, but again the retail hordes had unrealistic expectations in this area as well.
      Doc, as we’ve discussed many times before, I love it when investors throw tantrums on essentially good news, and a quality stock gets creamed. I’ve happily been adding to my WM position this week into the selloff. Those 4 million ounces of gold are all still in the ground, their land position all around Detour Lake is still amazing, and they have all their Grasset Nickel assets, that are right now receiving no value. Gotta love a good market dislocation.