The KE Report Craig Hemke - Silver’s Breakout, Copper Strength & the Fed’s Next Move
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Dec 8, 2025 Craig Hemke, founder of TF Metals Report, dives into the recent surge of silver, eyeing a climb towards $60 per ounce fueled by momentum buying and short covering. He discusses copper's impressive performance amid economic recovery signals and contrasts it with oil pricing trends. Expectations from the upcoming Fed meeting are high, with potential rate cuts on the horizon. Hemke also touches on the unique current of gold's back-to-back gains and how a new Fed chair could shift monetary policy, influencing metals markets dramatically.
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Silver Breakout Fueled By Momentum Buying
- Silver's late-2025 surge was driven by a breakout above $54 that triggered CTA momentum buying and short-covering.
- That breakout happened during seasonally light volume, amplifying rapid price moves.
Momentum Breeds Momentum In Silver
- Fast silver gains create their own inertia as traders pile in and more participants chase the move.
- The seasonal period from mid-December into January increases the chance the rally extends further.
Futures Trading Dominates Short-Term Metal Moves
- Short-term metal price moves are largely driven by futures trading and trading demand rather than immediate physical shortages.
- Physical supply-demand fundamentals still underpin markets but play a secondary role to derivatives in price spikes.