Craig Hemke – Gold Breaks $3,400 as Global Markets Unravel
Craig Hemke, founder and editor of TF Metals Report, joins us to break down an increasingly chaotic market environment where gold surges while nearly everything else sells off.
With the S&P 500 down over 3%, the U.S. dollar dropping 11% in 100 days, and bond yields rising, Craig unpacks what’s driving this unprecedented divergence, and why gold continues to be the major winner.
Key themes we cover:
- Capital flight out of U.S. assets and the breakdown of traditional “safe havens”
- Why this gold move feels different from any in recent memory
- Gold stocks lagging despite surging margins at $3,400 gold
- The potential setup for silver to play catch-up as the gold-silver ratio holds above 100
- Whether gold stocks could finally decouple from silver and get re-rated on fundamentals
Craig also shares insights on the Commitment of Traders (COT) report, revealing gold’s rally is not driven by overcrowded hedge fund positioning, but possibly a commercial short squeeze.
We close with a look at what gold miners might do with these outsized margins; M&A, dividends, buybacks, or development spending, and whether generalist capital will finally rotate into the sector.
