Craig Hemke – Outlook On Oil, Gold, Silver, And Precious Metals Stocks In Context With The Geopolitical And Macroeconomic Backdrop
Craig Hemke, Editor of TF Metals Report, joins us to review the elevated oil, gold, and silver price levels, in context with the geopolitical and macroeconomic factors. In lieu of the higher US dollar and interest rates, gold and silver have held up well, however, the gold and silver equities have just not fared as well lately, despite just likely putting in record revenues in Q3. Craig wonders if the markets are seeing the rising crude oil prices and extrapolating that out to rising costs in the PM miners. We take a deeper dive into his outlook on silver price overhead resistance levels, and if there is a chance to take out the all-time highs around $50. Additionally, we review the trend of 10.3% annualized gains in silver since the Great Financial Crisis, in 2009.
Wrapping up we dive into different bigger picture macroeconomic trends in inflation, jobs, Fed policy, and the burden of growing US debt payments, and those themes still hold the potential for future demand driven by institutional investors and generalist investors that wake up to precious metals as a store of value.
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Click here to visit Craig’s website – TF Metals Report
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Big if. Look on the brighter side
Unnatural extreme storms.
More importantly is how badly North Carolina gets hit…. Little known fact …70% of pure quartz supply for chip production comes from a single mine there.
https://www.tradingview.com/x/8NPyYnSW/
SILVER : Consolidating. Double Top?
https://www.tradingview.com/x/6a5qX2a3/
Good Fibonacci Support: 29.70
https://www.tradingview.com/x/km2h5jGf/
DOLLAR : Bearish Gartley Expander?
Sitka (V-SIG) drill results will be out soon for drill hole #68, if you’re not in it you are not a gambler and investing in the junior resource stock market is extreme gambling with the hope of one day being able to buy a palatial home in Boca Raton Florida, and retiring there like Al Capone.(anyone like Tarpon fishing) A lot of gamblers are buying in this could be “The Big One” and I don’t mean a Hurricane! LOL! DT 😜🤣😉
On the other hand, Junior Explorers continue in their all time low channel with today starting down.
The above comment is not in response to DT’s about Sitka but Explorer’s in general. My account still reflects intervention with the “some up and some down” alternating days by individual stocks. Green stocks still capped at under 50%. However, I own Sitka in two accounts and profits better in my IBKR in cad dollars.
Silver fell a lot more than the silver miners today so don’t be surprised if we have a low here.
SILJ turned up at “modified Schiff” fork support this morning and is now down just one-seventh as much as SLV…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=1&dy=0&id=p94126817286&a=1790557080
UUP (USD) is stretched and at resistance but looks like it will finish higher for the 7th straight day. Since bottoming in late August it gained as much as 2.9% yet gold gained 6%. Had the dollar risen because it was strong and not because the euro was weak gold would have fallen. So much for dollar strength.
https://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=1&mn=3&dy=0&id=p82468972559&a=1674287387
If Milton which is a category 5 the strongest of Hurricanes comes on the heels of Helene imagine what it will do to the people and the economy of Florida. It will destroy untold homes and businesses and the dreams of many millions of its citizens. The big cities will have difficulty collecting property taxes, the banks will be in big trouble holding mortgages on properties that are gutted. Disease and looting could settle in. Most of the hundreds of billions piled up in paper profits will melt away. A vast pyramid of credit built on inflated real estate will topple to earth. There has been an influx in the last 15 years where a migration of population shifted to the Southern States intent upon making money driving up prices and now there will be a lot of credit that will be in default hit the wall. DT 😢