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Craig Hemke - Gold CoT Report Update, Copper Strength, & War Headlines

The KE Report Jun 2, 2026

Summary

Gold and silver face short-term volatility from geopolitical headlines, but structural support remains from global M2 money supply expansion driving hard asset re-pricing.

Copper's push toward all-time highs provides a fundamental floor for silver prices, with industrial demand acting as a critical safety net for precious metals investors.

Historically low COT open interest signals massive upside potential when institutional capital returns to commodities markets amid thin liquidity conditions.