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

Page: https://stenobird.com/podcast/the-ke-report-5642261/craig-hemke-gold-cot-report-update-copper-strength-war-headlines
Text version: https://stenobird.com/podcast/the-ke-report-5642261/craig-hemke-gold-cot-report-update-copper-strength-war-headlines.md
Podcast: [The KE Report](https://stenobird.com/podcast/the-ke-report-5642261)
Published: 2026-06-02T03:43:11+00:00
Episode link: https://kereport.podbean.com/e/craig-hemke-gold-cot-report-update-copper-strength-war-headlines/
Audio file: https://mcdn.podbean.com/mf/web/ghpihvnutkkjbs9b/2026-06-01_-_Craig_Hemekbupp7.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-ke-report-5642261/episodes/craig-hemke-gold-cot-report-update-copper-strength-war-headlines
Duration seconds: 1526

## Resource

In this Daily Editorial, we welcome Craig Hemke, founder and editor of the TF Metals Report, to dissect a highly volatile session across the commodities landscape. Amid shifting headlines out of the Middle East and a see-saw reaction in traditional stock indices, Craig breaks down why hard assets are reacting inversely to standard war-narrative headlines and what it means for macro-investors moving forward. Key Discussion Points Geopolitical Headlines vs. Market Reality: Why the reopening of tensions in Iran initially triggered a pullback in precious metals, and why theater often drives early-morning price action over baseline fundamentals. The Copper and Silver Correlation: An analysis of Copper’s push toward new all-time highs and how this powerful industrial demand component is acting as a safety net to keep Silver well above its key technical baselines. Fiat Currency Dilution & Global M2 Money Supply: How a 17% explosion in global M2 money supply over the last two years forces a structural re-pricing of hard assets across the board. Historic Lows in Commitment of Traders (COT) Open Interest: A look into why futures market open interest is sitting at 20-year lows during a commodities boom, and what happens when institutional money inevitably rushes back in. Navigating Liquid Air Pockets and Volatility: Why thin market liquidity is causing staggering single-day moves in Silver and Gold, and how investors can brace for near-term technical decisions around the 50-day and 200-day moving averages. Click here to visit Craig’s website - TF Metals Report - https://www.tfmetalsreport.com/ For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosp…

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## Transcript

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