Craig Hemke – Gold, Silver, And The PM Stocks Continue Ratcheting Higher Post Powell Press Conference

Craig Hemke, Founder and Editor of TF Metals Report, joins us on Thursday as gold, silver and the PM mining stocks continued to ratchet higher, post Powell press conference and FOMC meeting on Wednesday, and on the back of several weeks of concerns regarding recent bank collapses.   We discuss how quickly the Fed funds futures markets shifted from not expecting any rate cuts until 2024, to now pricing in 4 cuts by year end, with the first potentially starting as soon as June or July this summer.  This dramatic and swift change in expectations is starting to mirror the years of 2010 and 2019 as Craig had forecasted may be how the year unfolds in his 2023 Macrocast in January.    The discussion goes into a number of areas on central bank policy, interest rates, tracking unemployment data, and then drilling down into the PMs by looking at the COT positioning and pricing action on the charts.  




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

    Mar 23, 2023 23:32 PM

    On a day like today (Thursday) with the PMs surging higher… Don’t ya just wish you’d sold everything PM related on March 7th to go to cash when ole’ Joe came on to troll the site advised doing just that [not surprisingly right when gold was putting in it’s short-term low around $1815ish?]

    He mentioned that you can’t spell Darth Powell without a POW, and proclaimed that PM bugs would never learn and was calling for lower moves, (which was offering his contrarian indicator service of bottom ticking the PM markets once again, just like his prior shouting rants did on Sept 24th, right before the mining ETFs bottomed on Sept 26th and surged higher for 4 months).

    Now just a little over 2 weeks later Gold has surged higher by $180 and just got up intraday to $2000, ironically, further fueled by Powell’s policies and comments… so yeah…. Pow indeed!

    So just a few weeks after another “sell everything” proclamation, Gold is getting closer to it’s all-time highs, while Silver has blasted up from below $20 to now well over $23 in a short amount of time. Not too shabby.

    We’ll see what happens in price action over the next week for the monthly and quarterly close next Friday, but as Jordan pointed out yesterday, a close above $1953 would be the highest quarterly close on record. Gold is much closer to making a higher high, than it is falling down to new lows, but that doesn’t mean it couldn’t get swatted back down again to consolidate the recent gains.

    Also as both Jordan and Christopher Aaron pointed out, Gold is blasting up to new highs in a number of other key global currencies like the Yen, Pound, Aussie and New Zealand dollars. That usually precedes a move higher in the green back. If we do see another PM sector pullback, it should be viewed as a gift for accumulation.

      Mar 23, 2023 23:22 PM

      I have a hard time bending to criminals and I don’t care who they work for. Play their game and there is no game anymore. Might as well just walk away from everything you own and send the keys to The Fed.
      All in and waiting for them to crash and burn. Hopefully they go first.

        Mar 24, 2023 24:29 AM

        Agreed Lakedweller2. Central Banks are criminals, and we shouldn’t even have them. Our founding fathers warned against installing a central bank, and were vehemently against it, as were most wise policy makers for the first 150 years of the US history. It wasn’t until the Creature from Jeckyl Island emerged in the early 1900s that the criminal cartels and big business elitists got their wish and a central bank was installed that the sinister plot began here in the “new world.”

        When modern day people pay homage to the great work the central bankers are doing “threading the needle” it is like they want to pay homage to these blood suckers and have amnesia that we shouldn’t even have a central bank interfering with the markets in the first place, and they are not “Federal” in any sense, as they are a private entity, not part of the government in a traditional sense…. even though they just came in to address congress 2 weeks ago. They are a criminal side element that comes in to report to the US government occasionally, but most citizens will remain uninformed and in the dark about who they really serve… just the way they want it.

          Mar 24, 2023 24:43 AM

          The solution to the current problems is for the fed to drain their bank accounts covering up the deposit losses and to lose their way to refill their bank accounts… effectively bankrupting themselves to save the world economy, then fade away to the rooms in hell awaiting them… and take the wef lot with them.

      Mar 24, 2023 24:49 AM

      Excellent post Excelsior!
      Was extremely motivated to add phyzz a couple-three weeks ago…. the Au I picked up for $1900 is sparkling nicely today.
      Craig Hemke is easily one of the best analysts in the sector!

        Mar 24, 2023 24:32 AM

        Thanks 4 oz. Yes, stacking some physical in this crazy world is not a bad action to take, especially if the metals are poised to make higher highs and eventually hold some of those gains for years to come.

        Yes, Craig is a true gem, gathers info that many overlook from a number of economic reports, and he’s one hell of a nice guy (and always makes me laugh).

        Thanks for listening to the KE Report and Ever Upward!

      Mar 24, 2023 24:51 AM

      Anyone that has been around for a couple of decades……. already knows the game…
      If, they do not, they get what they deserve…….. JMO

      The structure has not changed……… and the rigging will continue for as long as
      they have control….and that control is not going to change anytime soon..JMO

    Mar 23, 2023 23:41 PM

    Thanks for letting me know what is going in the real world. I have my own market of on-going intervention. I will know when it is different from month 15 …. But it hasn’t yet.

    Mar 23, 2023 23:07 PM

    Big volume in left for dead silver stocks. Added to Reyna Silver, Blackrock & Silver Viper today. AbraSilver starting to move

      Mar 24, 2023 24:56 AM

      The Company reported $16.3 million in revenue in 2022 compared to $17.7 million in revenue in 2021. Despite operational improvements and cost saving initiatives, the decline in revenue owes to a 13.6% decline in silver prices. Mine operating earnings before amortization and depletion in 2022 were $1.2 million (compared to $4.7 million in 2021) owing to lower silver prices and increased inflationary pressures on costs, wages, a stronger Mexican Peso, as well as additional exploration and drilling costs. Management believes cost controls implemented throughout 2022 as well as recovering silver prices as

        Mar 24, 2023 24:35 AM

        OOTB – Good comments on the IPT financials, and yes, those challenges of declining metals prices and rising costs were a challenge across the board with gold and silver producers in 2022. However, in 2023, we now have the opposite trends going on of lowering input costs for fuel, lumber, cement, chemical reagents, etc… and rising metals prices, so hopefully the beleaguered mining sector can make a little cheddar this year. 😉

        Cheers mate!

          Mar 24, 2023 24:51 AM

          Yup, last year at this time the price of oil was over $100, now that it is under $70 and the price of silver is rising, “investors” are running for the hills. The lack of brain power in this industries “investors” is amazing… sell sell sell!;-/ that’s the way to make $$$…

            Mar 24, 2023 24:06 AM

            Hopefully……………….. I was not advocating selling anything…………..

            Mar 24, 2023 24:15 AM

            I had a bout of sarcasm… I’m better now, haha. I have been watchin ‘dumb and dumber’ prance around Ottawa today and couldn’t help myself, haha!;-)

            Mar 24, 2023 24:29 AM

            :)………… all is well….
            or not… world is in a sick position for sure… comedy club here as well,
            Biden ding dong., and wokeism…..totally perverted

    Mar 24, 2023 24:36 AM

    Same … same another day

    Appears more aggressive take down. Continuing range bound to the bottom area of the range. Also appears to be intentional intervention.

    Mar 24, 2023 24:47 AM

    FREAKY FRIDAY………………………… AGAIN………………….

      Mar 24, 2023 24:23 AM

      Stay Safe…….. and keep your safe, safe……. 🙂

        Mar 24, 2023 24:26 AM

        Janet Yellen has called and Emergency Meeting this morning with EVERY HEAD OF EVERY US FINANCIAL REGULATOR!

        No panic here!
        Bix Weir…today

    Mar 24, 2023 24:38 AM

    Crypto-Man explains Signature Bank takedown. Interesting.

    Mar 24, 2023 24:42 PM

    The barometer continues to be the same in regards to the miners forget gold or silver price action. The mid and majors are running higher but everyone else is going lower for now. I expect one possibly two down monthly candles on the miners specifically the exploration and small cap! Equities will also crash here.

    Wti in target for glens $42-$45 call while most still horny on oil. We are close but not close enough. The fireworks i spoke about the other day about not taking off till July/august was reciprocated by non other than the legendary Pierre lasonde.

    I have cash raised and will buy in the next two months if the opportunity arises to bring down my average and possibly dip into a historical low in some miners. Let’s see what gives.

    Best of luck to all!

      Mar 24, 2023 24:40 PM

      This week ended on a much better note than it might seem and the odds of “two down monthly candles on the miners specifically the exploration and small cap” just dropped even more (2 down monthly candles was already very unlikely). The sector will either get its “finishing touches” next week or there will be a bad reversal to ruin the whole setup (which I consider highly unlikely but of course possible).
      I am bullish the immediate future and not cautiously so. A silver breakout next week should be no surprise and that of course would be great for the entire sector.