Craig Hemke – Economic Data Recap, Stagflation, Gold & Silver Market Trends 

June 3, 2024

Craig Hemke, Founder and Editor of TF Metals Report joins us to discuss last week’s economic data and forecasts. We dive into inflation data, GDP projections, and market reactions, exploring themes of stagflation and persistent inflation. 


We also preview a busy week ahead with new economic data releases such as PMIs and job reports, and speculate on how these might affect market trends and the Fed meeting next week. Craig provides insights into the gold and silver markets, analyzing recent movements and the potential influence of upcoming economic indicators. Additionally, we explore the broader impact of inflation on average Americans and the dichotomy between stock market performance and real economic conditions. 


Finally, we delve into the Commitment of Traders reports for precious metals, discussing the implications for future price trends



Click here to visit the TF Metals Report website to stay up to date with Craig.

    Jun 03, 2024 03:25 PM

    What do you think of The Big Bull Market in conventional stocks led by Nvidia. Stocks look like a road sign that say’s danger is ahead. This Bull Market has been going on for a long time. Business is terrible. The businessman is no longer revered. Socialists don’t like businessmen they want to live off of other people’s money without thinking about how money is produced.

    Phony money has persuaded innumerable people to gamble away their savings in real estate. Speculation has been increasing over many years, intensified in the action of The Federal Reserve in lowering the rate to zero and in some cases where it was negative.

    The lowering of money rates stimulated the stock market and allowed Washington to not consider the inflation which we are seeing. The politicians did not consider the impact on the financial community, and then they lost sight of what happens, when business activity declines.

    It is altogether too easy to see a time of reckoning ahead. DT

    Jun 03, 2024 03:53 PM

    What do people think of the LAB sale of their Kingsway Project to NFG that Bob Moriarty is talking about?

      Jun 03, 2024 03:42 PM

      Hi Terry, what if the deal gets voted down, do you think NFG will pay more. There are just a lot of variables. What price can you get in at. Lab has 6.5 million in cash; they could hold out for more. (management is recommending acceptance of the deal) There might be another suitor. How much do you want to own of NFG at almost 4.75 per share, will the dilution affect the shares of NFG. Your money will be tied up for 4 months if and when the deal goes through. What do you think? DT

    Jun 03, 2024 03:10 PM

    Here’s my latest article on Substack, that has a mashup of multiple royalty companies covered in it:


    Opportunities With Mid-Tier And Junior Royalty Companies – Part 5

    Excelsior Prosperity w/ Shad Marquitz – 06-03-2024

    Jun 04, 2024 04:42 AM

    Here is the list of inflation in Fast Food Prices from late 2019 to mid 2024.

    Obviously, these rising prices are much more extreme than the official inflation numbers so many are dithering about… and these are examples of the types of price increases that affect everyday consumers.

      Jun 04, 2024 04:44 AM

      Note at the bottom that the average price increase in just those 3 fast food chains was 80% in just 5 years.

      Jun 04, 2024 04:01 AM

      This doesn’t account for the size of the portions, the ingredients or the quality of service among many other variables, but it is shocking for sure.

        Jun 04, 2024 04:39 AM

        Great points, as the size of the portions has decreased in many cases, as has the service, so shrinkflation, worse customer service or automation transition to self-service, paired with inflating consumer prices.

          Jun 04, 2024 04:49 AM

          Don’t forget tipping now too. 🙄

            Jun 04, 2024 04:48 AM

            Tipping is outrageous in Canada, most places give you a choice on their point of sale machines of 15,20 or 25%. I usually pay cash for tips and for the meals, 25% is a stupid amount…

        Jun 04, 2024 04:01 AM

        North Americans are notoriously overeaters, shrinkflation might not be a bad idea when it comes to fast food. People need to get back to home food cooking. I was in a school recently and they had a number of framed class photos from 1957 when there were no fast-food restaurants around here. All of the students were thin and well dressed. DT

    Jun 04, 2024 04:55 AM

    XME a general metals basket has not confirmed the commodity mania yet….This matters imo…glta….Monthly is struggling at breakout resistance….!GCeQs4IP

      Jun 04, 2024 04:43 AM

      I agree about commodities and the XME but we should not lump the monetary metals in with commodities. Gold and silver are big-picture bullish in a way that commodities haven’t matched. Silver is really the place to be as it recently became long term very bullish vs gold and the same is true of the silver miners vs the gold miners though not as clearly so when it comes to the long term picture.
      The next 4 years will be nothing like the last 4.
      SILJ:GDX weekly:

    Jun 04, 2024 04:51 AM

    day gdxu…targ to buy 28ish….glta

    will take another daily cycle down after this one bottoms…imo!zh5dzSYc

    Jun 04, 2024 04:05 AM

    Dang… today is one of the harder selloff days across the commodity stocks that we’ve seen in a while.

    Everything seems to be down, gold stocks, silver stocks, copper stocks, uranium stocks…..

    My portfolio is down over 5% in a sea of red and across ALL the stocks. I have rarely seen a day where there are no green positions in my portfolio, just due to the number of stocks and diversification. This is a particularly bad day…

    Trying to debate doing a little accumulating, or waiting until tomorrow to see if there is more follow through.

      Jun 04, 2024 04:46 AM

      Just a guess but there are a lot of naked shorts that have not been able to cover. The best way to fix corrupt trading is with more corrupt trading. Just me but I am still range bound at all-time lows. Never even got close to being overbought.
      EDIT: I will say something positive: yet to be determined, but if this is just a temporary hit, I will have had a higher high and lower low. Got to see a turn around V bottom.

        Jun 04, 2024 04:37 AM

        Got that wrong: “Higher high and higher low”

          Jun 04, 2024 04:57 PM

          Getting my V bounce … going to be red anyway, but less is more.

            Jun 04, 2024 04:23 PM

            I think it was more of recent traders continuing to pull profits in commodities that had run nicely from late February through May, combined with shorts piling on to force prices down as the corrective move we saw last week started to build momentum to the downside. It’s just rare to see across the board selling like we did today in most commodities and resource stocks. A very ugly red day….

      Jun 04, 2024 04:30 AM

      No Ex don’t buy …..SELL SELL SELL

      Sorry. Couldn’t help myself. 😜

        Jun 04, 2024 04:10 PM

        🙂 Haha! Good one.

        Yeah, I ended up selling my Fortuna (as it was already well up in the green) and a there are a few things on the horizon that put a question mark on it for me compared to other silver/gold stocks for the medium-term.

        I ended up picking up a little more Probe Gold as it is back to an attractive accumulation point, and I added a bit to my Peninsula Energy, Nuscale Power, and Blink Charging positions.

      Jun 04, 2024 04:31 AM

      Many of the fed’s indicators are showing a slowing economy with higher retail prices, the very definition of stagflation and yet Powell is effing willfully blind to it and even publicly wrong… I see this as a last ditch attempt by the market makers to cover shorts by taking advantage of the Pm’s seasonally slow period.

        Jun 04, 2024 04:32 AM

        BTW, I’m a buyer as the USD looks weak and indefensable soon.

        Jun 04, 2024 04:11 PM

        +1 Dan

        Jun 06, 2024 06:50 AM

        … even a broken clock is right twice a day… hahahahaha!!!

    Jun 04, 2024 04:56 AM

    weekly GDX…Gartley buy set-up, is occurring…Gartley said to buy the first retracement in a bull run….A normal .618 pullback is in the 30ish area…The oscillators will be reset by the time this happens around August…glta

    week GDX,,,,,,,!BLHK9OnP

    Jun 04, 2024 04:18 AM

    New position EXK- Endeavor Silver
    1st of 3 : bought @ $3.63