Craig Hemke - Gold’s Next Breakout? COT Reports Show Bullish Setup

The KE Report

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.