Dave Erfle, Founder of The Junior Miner Junky, joins us to review the recent bullish trend in the PMs since last Friday, some macroeconomic factors to pay attention to, and technicals pricing levels he is watching in gold, silver, and the mining stock ETFs. Dave reviews the yield curve inversion steepening the end of last week, the Friday’s jobs report being less than stellar, the rumors of China reopening, silver and silver stocks leading the way higher in the sector, central bank buying of gold, “dumb money” selling the GDX and GDXJ, and the rotation out of cryptos and into gold, and the weakening US dollar as factors behind this recent bullish move higher in the PMs.
Despite the overall bullish picture, we also discuss the potential for further downside pressure in the precious metals sector, should the US dollar turn back higher and if the reaction to the CPI number later this week is that the Fed will have to hike higher for longer.
Click here to follow along with Dave’s resource stock investment at The Junior Miner Junky website.