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.