Craig Hemke – Gold & Silver: Navigating Historically High Prices in a Low-Sentiment Market
In this Daily Editorial, I sit down with Craig Hemke, Founder and Editor of the TF Metals Report, to break down the current state of the precious metals sector. Despite gold and silver holding at historically high price levels, the market is grappling with a significant loss of momentum and a puzzling lack of investor interest.
Key discussion points:
- The Disconnect in Sentiment: Why the market feels “boring” and range-bound despite gold and silver maintaining strong historical price floors.
- Collapsing Open Interest: An analysis of the dramatic drop in COMEX open interest – reaching 20-year lows – and what this thin liquidity means for future volatility.
- Rising Costs for Miners: A look at the upcoming earnings season and the potential of higher costs being forecasted.
Click here to visit Craig’s website – TF Metals Report – https://www.tfmetalsreport.com/
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Like Craigs updated picture.
Even so, not very often ya hear Craig so discouraged. Granted it’s tough waiting….for chart lows to finally be put in. Bottom line, I’m thinking sideways to down until past Labor Day for PM’s and down to sharply down shares for the foreseeable future; TPTB will kill markets to keep from losing their power and are 100% sure to sabotage whatever it takes to win the US Midterms.
Hard to say where things progress from here as there are serious economic issues everywhere one looks with no government regulation or slow down in questionable efforts to continue the transfer of wealth. It is quite concerning when no one has your back on pretty much everything …
Socialism will have your back but it will also keep you poor. DT
You are absolutely right. …can’t wait for it. Improvement is always a plus.
A couple of worthwhile charts from RBC in this article:
https://thedeepdive.ca/rbc-6500-gold-miner-cash-flow/
HL is a buy on weakness right here. It could dip to $15s soon, though no guarantees–basically a test of the 200 DMA, which is the ultimate buying opportunity in a trending bull market. (I would actually like to see a large quick flush rather than a drip drip drip that allows the MAs to reset lower, which would bode a much longer consolidation period IMO.)
Earnings are next week, IIRC.
I remember those days when Gary Savage was doing daily KER editorials for free, now he’s running a four‑figure subscription service and dealing with refund requests on X. The “daredevil” label fits him pretty well. His whole brand has always leaned on bold calls, high‑conviction narratives, and a kind of swagger that either pulls people in or pushes them away. I suppose when that style is free, people treat it like entertainment. When it costs $1,000, suddenly everyone wants accuracy and accountability.
I think silver is due to touch its 50 week EMA (currently at $62 but rising) over the next few weeks or months. While it may fail to take off immediately from there, if you can buy it anywhere near the 50 week EMA, I think it will be a very safe bet for a serious move higher in 2027 into 2029.
I would prefer a nice big rebound and consolidation at higher levels, but after such a huge initial spike I doubt that is in the cards this time. I would guess that much smaller drawdowns will be the course into future price spikes.
I have no idea what the actual time course or price action will be, but looking at other commodity price spikes, it is well within the realm of possibility that the peak at $120 won’t get broken above for good until 2028–basically a 12-18 month corrective period.
Oil has huge upside, even against gold:
https://schrts.co/RqGxEhhW
Yes, yes and yes! Time to invest in E&P sector and forget about mining stocks.
SLB, SHEL, BP, BKR, EGY
Pre-theft, theft week. Beef up your jerky in the shelter.