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The Recent Gold Price Decline with David Erfle

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from Kerry Lutz’s Financial Survival Network

David Erfle founder of JuniorMinerJunky.com, is a 52 year old self-taught mining sector investor. The big picture. Gold bottomed at 1050 and just about doubled to 2063 in August 2020. It has now retraced 30 percent of its gain, exactly. The decline was orderly in the metal and the stocks as well. We had a parabolic move in gold and of course it’s going to retrace. It’s a very healthy correction. I could come down and test the 1580-1600 level. The algos. As predicted from 1850 down to 1670. The Dow Jones Industrials have become the stock market leader. The louder the cries of a crash, the more the shorts are going to get hit. Yields have had an impact. But Friday, gold had an upside reversal in spite of yield. The gold miners started showing relative strength in the face of the metals decline. Silver has been holding its own. It hasn’t broken $30 yet, but that’s a major resistance point. It’s not even close to it’s $50 high. It’s maintaining. The silver juniors predicted the move. They’re building a base to go higher. It’s always a bullish sign when silver shows strength in the face of lower gold prices. This is actually a gift. All the juniors are cashed up. Money keeps pouring into the sector. A lot of quality juniors have corrected 30-40%. But they’re up several times. They’re at a great entry point. It’s an amazing time. In spite of or maybe because of the trolls. Dr. Copper is sounding the alarm on inflation, among other things. Rising rates are supposed to kill commodities, but the converse is true. Rising rates are actually a net positive for metals. David sold a few stocks for company specific reasons and to raise cash ahead of the Fed.

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Source: http://www.financialsurvivalnetwork.com/2021/03/the-recent-gold-price-decline-with-david-erfle/


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