Dave Erfle – Gold and Gold Stocks Pullback, Mexico Political Changes Impact On Silver Stocks, SilverCrest Takeover Recap
Dave Erfle, Editor of the Junior Miner Junky joins us to discuss the current pullback in gold, silver and the underlying equities. We also look at the changing political landscape in Mexico and the SilverCrest US$1.7billion takeover.
Dave provides insights into gold’s correction after a lengthy bullish streak and highlights geopolitical factors like tensions in the Middle East, which previously propped up gold prices. We also consider the implications of a strong dollar and higher interest rates on the commodities sector.
We then analyze the performance and future outlook of gold stocks, using GDX and GDXJ as references, amidst record high gold prices and earnings.
On the silver front we discuss market dynamics and recent M&A activities in the sector, with SilverCrest being acquired for US$1.7billion by Coeur Mining. We balance the necessity for consolidation in the silver mining industry, the strategic significance of certain geographies for development assets, and the evolving investor confidence in Mexican mining projects under new leadership.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.
Here’s a big fork resistance that marked silver’s highs of May, September and this month as well as the high monthly close of 2020. A monthly close above it will be a big deal. For this month 33.50 should do the trick.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=M&yr=17&mn=0&dy=0&id=t5752379365c&a=895534628&r=1728445507181&cmd=print
Agree……$33.50
……. $1 over the $32.50 mark should do the trick.., whole new game at that point… JMO
Tricky Dick was good for Gold. I am not a crook! Compared to the politicians we have today Nixon was a Saint and a Boy Scout! LOL! DT 🤣
Phenomenal upside is coming for the gold and silver stocks in real terms (priced in gold). Priced in currencies that upside will be even better, much better.
https://stockcharts.com/h-sc/ui?s=%24XAU%3A%24GOLD&p=Y&yr=50&mn=0&dy=0&id=t5115915745c&a=1431137417&r=1728445993404&cmd=print
https://www.tradingview.com/x/AhOrpbEo/
SILVER : Now Northbound?
Sitka Gold Corp. (V.SIG) has just finished two separate drill holes and both of them have multiple visible gold appearances. The cores have been sent into the lab for analysis, investors are anxiously waiting to hear back on hole #68. This could get exciting! DT
So far so good today with the market response to the VG drill submissions for assay…
Silver pulled back sharply from the same resistance that capped it in May and July. That resistance is now very important so expect the next big move to begin once we get a weekly close above it.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=6&mn=5&dy=0&id=p46226816785&a=1799247670