Host of TFMetals Report Craig Hemke tells Silver Doctors the recent pullback in gold and silver was a result of being overbought.
Hemke expects a rally with the FOMC meeting Wednesday. The $1360 level for gold is a key resistance level. Some catalyst, such as further easing from central banks will be necessary to launch gold past that level.
Hemke explains how the price setting of gold is different from the price setting of stocks. He argues it does not reflect physical supply and demand fundamentals.
Hemke comments on the historic rise in palladium prices and makes the case the rise is due to physical demand.
The U.S. economy is slowing. Hemke says the economy cannot handle the higher interest rates.
Known primarily by his nickname "Turd Ferguson," Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.