The KE Report, Released on 1/20/26
Today on the KE Report Daily Editorial (Tuesday, January 20), we’re joined by Craig Hemke, founder and editor of TF Metals Report, for a wide-ranging conversation on the powerful precious metals rally and the macro forces he believes could shape 2026. Gold and silver continue to surge, with gold pressing higher and silver rapidly approaching the psychologically important $100 level after a dramatic run from late-2025 lows. Craig breaks down why this move looks different from past spikes, what market structure signals are flashing beneath the surface, and where global pricing power may be shifting.
00:00 Current Precious Metals Market
02:04 Silver’s Rapid Rise
05:34 Commitment of Traders Report Insights
08:13 Global Market Influences
13:57 Geopolitical Factors and Future Outlook
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.
Craig Hemke: Comex vs. Shanghai: What’s Really Driving Silver? added by Herman James on
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