Today, Craig Hemke, founder and editor of the TF Metals Report, joins me for his regular Monday commentary on the precious metals markets. We start with a recap of last week’s market action following Jerome Powell’s remarks at Jackson Hole, which signaled that the Fed may be preparing for a September rate cut. The result: strength across equities, bonds, and precious metals, with the U.S. dollar the lone laggard.
Key Discussion Points:
- Powell’s Jackson Hole speech and why a rate cut now looks all but certain.
- Market reaction: broad rallies across assets, dollar weakness, and implications for gold and silver.
- Insights from the latest Commitment of Traders (COT) report showing bullish positioning for both gold and silver.
- Gold’s ongoing five-month consolidation and what could spark the next breakout.
- The revaluation of junior mining stocks and what’s needed for the sector to continue higher.
- Silver’s inertia and potential for a sharp move once momentum returns.
- The seasonal setup heading into September and how upcoming jobs data could influence Fed policy.
Follow Craig’s work at TF Metals Report.