Episode
Craig Hemke – The Precious Metals Market Has Hit “Peak Hawk”
- Podcast
- The KE Report
- Published
- Jun 30, 2026
- Duration seconds
- 1216
- Processing state
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Summary
In this Daily Editorial, Craig Hemke, Founder and Publisher of the TF Metals Report, joins me to analyze the peak hawkishness in the precious metals market since last week. We dive into the macroeconomic backdrop as it relates to interest rates and Fed policy and the fallout after Kevin Warsh chaired his first FED meeting 2 weeks ago and addressed the markets focused on price stability. Craig wrote an article last week titled: “Peak Hawk” outlining some of the topics we dove into during this discussion, and there is a link to that here: https://www.tfmetalsreport.com/blog/13750/peak-hawk Technical Levels to Watch: Craig comments on the break-down in gold, silver, and PM ETF breaking below the 200-day moving average, and 50-week moving averages as just a ‘piling on’ effect from this peak hawkishness in the markets. He believes most of the corrective move has happened at this point, and is anticipating 2026 to end somewhere around flat on the year; which he notes wouldn’t be too bad after the outsized gains in gold and silver in 2024 and 2025 on a percentage basis. He points out we may need that last capitulation move this summer to wash out any remaining weak hands, and to then base and bring in the new buyers that cause shorts to cover and begin a new upleg. Craig also points to the flattening yield curve, and where the 2-year and 10-year treasury yields have been trending as a factor worth paying attention to. Kevin Warsh Will Be Speaking In Europe this Wednesday: Kevin Warsh is participating in a policy panel at the European Central Bank Forum on Central Banking. Craig will be watching to see if he emphasizes the hawkish hold or dials it back a little at this meeting. The Fed funds futures are now anticipating 1-2 rate hikes this year versus the initially market anti…