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Gold Surges Past $2,900 – What's Next? - David Erfle #6231
Description
Kerry Lutz and David Erfle discussed the recent surge in gold and silver prices, with gold surpassing $2,900 per ounce, driven by political uncertainty and trade tensions, particularly due to tariffs from the Trump administration and China's responses. David noted that gold has reached four all-time high daily closes since the inauguration, contributing to a total of 40 highs over the past year, while mining stocks and silver are beginning to follow gold's upward trend. He highlighted the resurgence of junior mining stocks, linked to Trump's streamlined permitting process, and mentioned the significant stock performance of Trilogy.
Kerry criticized the government's previous decision to revoke the Ambler Road project's permit, while David pointed out that British Columbia is expediting permits for 18 projects, positively impacting stock prices. They both expressed optimism about the mining sector's future, with David analyzing critical resistance levels in the GDX and GDXJ indices, suggesting that a weekly close above $40 in GDX and $35 in silver could indicate bullish momentum. He also noted the positive market sentiment surrounding junior mining stocks and the potential for explosive growth in this sector.
Find David here: https://www.juniorminerjunky.com
Find Kerry here: http://financialsurvivalnetwork.com/ and here: https://inflation.cafe
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