Craig Hemke

$7,000 Gold Incoming? How Mining Stocks Could Deliver 20 Baggers | Don Durrett

Gold and silver are entering a massive secular bull market, with price targets potentially reaching $7,000 per ounce for gold. Mining stocks offer extraordinary leverage to rising metal prices, presenting credible opportunities for 10 to 20-bagger returns. Investors should use market corrections as buying opportunities and focus on identifying high-quality mining shares with robust fundamentals.

🚨 Chris Vermeulen: Silver Pullback = Opportunity #shorts

Silver could pull back toward $38–$40 after a parabolic move, offering a better entry point for investors. FOMO drove prices higher, and now the market is digesting volatility before the next potential leg up. Short-term weakness doesn't break the long-term bull cycle, making pullbacks strategic buying opportunities.

🚨 Gold Just Reset? Chris Vermeulen Explains What’s Next #shorts

Gold's recent rally was driven by FOMO, indicating an emotional and potentially unsustainable price spike. Markets typically retrace euphoric price spikes, meaning gold may give back part or all of recent gains. A price reset and pullback could create strong long-term buying opportunities with better entry points.

Gold & Silver Crash Before Massive Rally? Chris Vermeulen Reveals What’s Next | Sprott Money

Chris Vermeulen warns of a potential short-term pullback in gold and silver prices before the next major breakout rally occurs. Geopolitical events are creating significant volatility in oil and energy markets, directly impacting broader commodity price trends. Technical analysis suggests precious metals are in a critical phase, with future projections hinging on key support levels.

Craig Hemke – Geopolitics, Macroeconomics, Fed Policy, & Fundamentals Present PM Stock Opportunities

Geopolitical risks, particularly Iran and the Strait of Hormuz, are creating extreme short-term market volatility, making traditional technical and macroeconomic forecasting nearly impossible. Central banks face a policy dilemma where inflation from rising input costs may limit rate cuts, but a demand shock will force them to prioritize easier monetary policy over inflation. Precious metals mining stocks present a compelling value opportunity due to a market disconnect, as record Q1 revenues and margins are not yet reflected in oversold equity prices.

KE Report Craig Hemke Feb 2 2026

• Top takeaway Hemke argues the precious-metals bull market is intact and the late-January 2026 move is a consolidation period, consistent with the nearly two-year pattern of roughly 20% gold rallies followed by multi-month pauses.
• Hemke blames the sell-off on what he calls a 'silly misperception' that Kevin Warsh would be a more hawkish Fed chair than Powell, saying the dollar kept falling through the week and disproves that thesis.
• Hemke says he is a long-term investor, did not sell into the drop, and continues to buy and hold what he views as the best mining companies, juniors, and exploration names through the ups and downs.
• Hemke argues the dollar is the unit losing value rather than gold rising, pointing to roughly $38 trillion in U.S. debt and another $2 trillion expected that year as the structural driver behind higher gold and silver prices.
• Hemke distinguishes between large-cap miners and juniors, warning juniors have not been a great buy-and-hold strategy, and notes Q4 earnings based on roughly $55 silver and around $4,100 gold have not been fully priced into the GDX yet as of early February 2026.

Craig Hemke of the TF Metals Report argues the late-January silver sell-off of over $30 was a violent consolidation, not the end of the precious-metals bull run. Hemke pushes back on the narrative that Kevin Warsh's Federal Reserve nomination is the real driver of the metals decline, pointing instead to month-end positioning and option expiries. Producers Agnico Eagle, Newmont, and Kinross enter their next quarter with materially higher average realized selling prices, supporting strong fundamentals despite headline volatility. Hemke frames gold as a stable unit against a depreciating dollar and urges long-term investors to separate conviction from short-term momentum trading. Technical gaps in the GDX filled during the flush, with Comex option expirations and delivery cycles amplifying the institutional price action.

Craig Hemke - Comex vs. Shanghai: What’s Really Driving Silver?

• Top takeaway Craig argues the silver rally is structurally unique, not a speculative bubble: COT data shows hedge-fund managed money net long has shrunk to roughly 13,000 contracts from about 37,000 in September–October 2025, while the five U.S. banks on the monthly bank participation report flipped from their historically persistent short stance to net long starting in November — a setup he says he has never seen before.
• He contends Comex silver is now the tail being wagged by Shanghai (physical demand), not the other way around; arbitrage is not closing the gap because Western metal cannot be sourced to deliver East, so the Comex price ratchets higher whenever the Shanghai price pushes up.
• On his 2026 macrocast outlook, Craig expects U.S. policy to run it hot — a Trump-aligned Fed cutting at least 100 bps, possible yield-curve control, and sharply negative real rates — which combined with central-bank gold demand (he cites Poland raising its target from 550 to 700 metric tons) keeps the precious-metals bull trend intact.
• He projects gold follows a recurring 20%-rally-then-2-to-4-month-consolidation pattern: from the ~$4,700 area at the time of recording, the next leg could take it to about $5,200, with a follow-on 20% move potentially reaching $6,000+ later in 2026.
• On silver, Craig had called for a doubling to roughly $96 in his macrocast — which happened by January 20, about two and a half months earlier than he expected — and floats a possible $120 target driven by industrial/tonnage supply issues, while warning a 25% pullback (back to ~$75) is plausible on a tariff headline.

Silver doubled in roughly 2.5 months - from $50 in late November to $94 on January 20 - while gold pushed past $4,750. US banks flipped to net long on COMEX silver in November, while hedge-fund longs shrank from 37,000 to 13,000 contracts. Craig argues Shanghai now sets silver's price: Comex is ratcheting higher to match physical demand, with backwardation (spot above futures) confirming tightness. Poland's decree to lift gold reserves from 550 to 700 tons follows the post-2022 pattern of central banks shifting out of US Treasuries. Craig's 2026 outlook expects 100bp of Fed cuts, possible yield curve control, and a gold target of $5,200 then $6,000+.

$120 Silver, $6000 Gold In 2026 | Craig Hemke

• Top takeaway The guest is the most bullish on precious metals he has ever been, with 2026 year-end targets of roughly $6,000 gold and $120 silver.
• He argues the silver rally is physically driven, pointing to the first spot-futures backwardation on Oct 2, four straight years of supply deficits totaling roughly 800 million ounces, and sustained London lease rates.
• He frames US/China actions — the US declaring silver a critical mineral and China's October export controls — as a 'war footing' he does not expect to reverse in 2026.
• He sees the Trump administration's plan to 'run it hot' — half-point rate cuts, yield curve control, and another $2T+ deficit — as 'extraordinarily bullish' for gold.
• He flags a pending tariff-constitutionality ruling as potentially bullish for metals, since an adverse ruling could force repayment of roughly $250B already collected.

Craig Hemke targets $6,000 gold and $120 silver by end-2026, citing four straight years of supply deficit and central bank gold buying. Backwardation (spot price above futures) signals physical silver is genuinely short, not just a paper positioning story. China's silver export curbs and the US critical-mineral designation reflect a strategic war-footing trend that Craig argues will not reverse. Commodity index rebalancing over five days equals only 1-2% of COMEX daily volume — Craig calls the media scare a 'none deal.' Treasury could mark Fed gold to market and route the ~$1 trillion proceeds into a sovereign wealth fund without issuing new bonds.

Craig Hemke – Strong Start To 2026 In Gold, Silver, and Copper – Macroeconomic Factors That Matter

• Top takeaway Hemke argues the physical market — four straight years of central bank gold demand and a cumulative ~800 million ounce silver supply deficit — has fundamentally changed the metals setup versus 2011, so COMEX margin hikes and paper selling no longer produce a cascading decline.
• He expects Fed funds to fall to about 5–5.5% by year-end 2026 once Trump replaces Powell in early May with a 'yes man,' and he reads Bessent's plan to merge Treasury and Fed operations as a setup that could lead to yield curve control if the 10-year note pushes above 4%.
• Hemke says the February 2025 Oval Office signing of the sovereign wealth fund executive order — and the remark that they would 'monetize the asset side of the balance sheet' — was the seminal moment that took gold from $2,700 to roughly $4,300 and is the foundation of his 2026 macrocast.
• He is bullish that gold, silver and copper will print more all-time highs in 2026, even though he doubts another 60%+ annual gain; he points to the highest-ever monthly, quarterly and annual closes across all three metals as the long-term chart signal institutions are following.
• Hemke blames the recent lag in mining shares on 'tax gain selling' by investors who didn't want to pile 2025 gains on top of a strong year, and he expects Q4 production reports over the next week or two to reignite the producers.

Mining shares lag spot metals even when gold, silver, and copper print record highs, as investors stay skeptical prices will hold. COMEX margin hikes have pressured futures but not triggered a sell cascade, because physical demand keeps stepping in to absorb selling. Spot-futures backwardation and a persistent Shanghai premium both signal the metals rally is being driven by tight physical supply, not paper flows. Central banks have bought gold at a record pace for four straight years, accelerated after Russia was cut off from SWIFT in 2022. Craig Hemke expects the Treasury to monetize the balance sheet via a gold repricing to fund a sovereign wealth fund, alongside possible yield curve control.