Craig Hemke - Gold and Silver CoT Update, Correlation of Gold and GDX To Markets
Craig Hemke, Editor of TF Metals Report joins me to recap the Commitment of Traders Report (CoT) for gold and silver and the recent performance of gold and GDX to the markets.
We begin with a discussion on the Commitment of Traders (COT) reports as Craig explains the historical trends in hedge fund positions, highlighting their current short position. We also discuss volumes in ETFs, GLD and SLV and their correlation with underlying spot prices. Craig shares insights on why silver is underperforming compared to gold, attributing it to factors such as low speculative short positions and the industrial component affecting demand.
Craig then highlights seasonal trends, noting that August has historically been a strong month for gold. We wrap up with a forward-looking perspective on what to expect in the coming months, considering economic indicators, potential rate cuts, inflation, and geopolitical factors that could influence the precious metals market.
