In today’s Daily Editorial, we welcome back Craig Hemke, Founder and Editor of TF Metals Report, to break down the sharp pullback in gold and mining stocks amid renewed strength in the U.S. dollar and equity markets.
We explore the implications of a shifting trade policy narrative – moving from escalating tariff tensions to a tone of reconciliation – and ask: Is the “trade war premium” in gold now gone?
Craig dissects:
- The timeline of gold’s April rally and sharp reversal tied to tariff headlines
- Today’s triple-whammy: rising energy prices, weaker gold, and post-earnings positioning pressure on miners
- How short-term technicals, like the dollar index and gold’s 50-day moving average, may drive the next move
- Whether generalist investors are rotating out of gold stocks and back into risk-on trades
We also look ahead to key catalysts this week: CPI, PPI, and Jerome Powell’s Thursday speech… will inflation expectations and rate cut narratives shift again?