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Craig Hemke – Gold and Silver CoT Update, Correlation of Gold and GDX To Markets

Cory
August 27, 2024

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.

 

Click here to visit Craig’s website – TF Metals Report

Discussion
9 Comments
    Aug 27, 2024 27:51 PM

    The American public is sleeping at the switch. They don’t understand how The Bric’s are controlling the price of commodities soft and hard. “RO JERRY”! The West is up to its Ying Yang in debt. The East is controlling the resource markets through The Shanghai Metal Exchange. I wonder how much U.S. Agricultural land The Chinese have bought.

    The silver shorts in The Comex paper market are on their knees because soon we will see what they know, just like The Fed they are in a groooooooooooove and trapped. India is now buying huge quantities of silver 100’s and 100’s of millions of ounces. If you aren’t with the physical market by now you will be handed your head on a silver platter! LOL! DT😜

    BDC
    Aug 28, 2024 28:10 AM

    https://www.tradingview.com/x/oc8Z2mNR/
    Silver Chart : July 11th Top
    New To TradingView

    Aug 28, 2024 28:41 AM

    1. Canada
    > Total U.S. land area owned: 12.8 million acres
    2. Netherlands
    > Total U.S. land area owned: 4.9 million acres
    3. Italy
    > Total U.S. land area owned: 2.7 million acres
    4. United Kingdom
    > Total U.S. land area owned: 2.5 million acres
    5. Germany
    > Total U.S. land area owned: 2.3 million acres
    6. Portugal
    > Total U.S. land area owned: 1.5 million acres
    7. France
    > Total U.S. land area owned: 1.3 million acres
    8. Denmark
    > Total U.S. land area owned: 856,474 acres
    9. Luxembourg
    > Total U.S. land area owned: 802,249 acres
    10. Ireland
    > Total U.S. land area owned: 759,732 acres
    11. Mexico
    > Total U.S. land area owned: 693,971 acres
    12. Switzerland
    > Total U.S. land area owned: 690,069 acres
    13. Sweden
    > Total U.S. land area owned: 688,801 acres
    14. Cayman Islands
    > Total U.S. land area owned: 672,476 acres
    15. Japan
    > Total U.S. land area owned: 636,258 acres
    Scary China #16 383,935 acres
    Scary Bill Gates 270,000 acres

    The Emmerson Family 2,411,000 acres
    John Malone 2,200,000 acres
    Ted Turner 2,000,000+ acres
    Stan Kroenke 1,700,000+ acres

      Aug 28, 2024 28:02 AM

      Thanks for the info, sf! DT

    Aug 28, 2024 28:52 AM

    Nat Gas ready to fly? It sure is compelling…

    https://www.fxempire.com/commodities/natural-gas/chart

      Aug 28, 2024 28:42 AM

      We had snowflakes in Calgary this morning… must have spooked some people into locking in some futures in Nat. ga$, haha! Maybe a ride up to that $2.30 level is at hand… IMHO only of course.

      BTW, I use no leverage myself.

        Aug 28, 2024 28:49 AM

        I use leverage as far as ETFs are concerned.

        … if you are leveraged you can make a whole bunch on the up side but lose it all on the down side of beta up or down scenarios. If the Nat gas market goes up, I make a bunch anyways.