Speaker 1: Gold is loving it, you know, I mean it's it's
also brought. You know, We've got four more daily all
time high closes in the gold price already since he
was inaugurated, adding to the forty all time highs that
were posted since March of last year. So yeah, all
time highs. Yeah, I mean gold. Gold went over twenty
nine hundred dollars yesterday.
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Speaker 3: And welcome you are listening to and watching the Financial
Survival Network. I'm your host Carrie Let's. We are just
getting started here in February. So much stuff going on.
Price of gold at or near all time highs, Silver
starting to break out over thirty two dollars the ounce,
and who better to get their take than David Erfley,
Junior Minor Junkie dot com. David, glad you survived the
fires intact and our hearts go out to everybody who
wasn't as fortunate as you, and I know you know
a lot of them. They're all your friends and neighbors.
But life goes on here meantime, higher gold prices and
what's going on here?
Speaker 1: Yeah, thanks thanks for having me on again, Carrie. It's
you know, it's basically, you know, we got week three
of the Trump presidency bringing more chaos and uncertainty into
the marketplace, and gold is loving it, you know, I
mean it's it's also brought you know, we've got four
more daily all time high closes in the gold price
already since he was inaugurated, adding to the forty all
time high that were posted, uh since March of last year.
So yeah, it all time huh yeah, I mean gold
gold went over twenty nine hundred dollars yesterday and now
you know, it's having a nice little pause here, some
healthy profit taking, which is yeah. Actually and right ahead
of the parable yeah, right ahead of the of the
non farm pays report that's going to come out on Friday.
But yeah, and there's there's just a lot of uncertainty.
How is how is bestn't gonna go to finance the
the the the deficit and the debt, and you know,
we've got the tariff uncertainty. You know, he he announces
tariffs then and announces a delay for a month for
Canada and Mexico, and then he goes ahead and puts
the tariffs on China, and they announced counter tariffs and basically, uh,
a trade war is on. And you know, gold was
basically in an eye of a perfect storm. The I
began in October. You know, we had the gold price
run up about one thousand dollars from late October twenty
three to late October twenty twenty four. Trump gets elected.
You know, that was basically sell the rumor, I mean,
buy the rumor, sell the new the news. Right, gold
had gotten way ahead of itself, extremely overbought. It was
a positive, refreshed It had yet to have even a
five percent correction during that one thousand dollars move from
October twenty three to twenty four, it corrected about ten
percent consolidated for about three months. That was the eye
of the perfect storm in gold. And now it's starting
to continue again. And this time though it's taking the
mining stocks and silver along with it. As you know,
as anybody who's listening to this interview right now knows
and who follows this sector. Oh, both gold and the Yeah,
both the miners and silver have been lagging for so long.
And and basically the mean reversion that we've been expecting,
we've been hoping for and expecting is starting to happen. Now.
A lot of these juniors are popping. And a big
reason for this is Trump coming in and streamlining permitting process. Yeah,
he was a permitting process, that's all. A big one.
Speaker 3: Look what he did with Trilogy.
Speaker 1: We used to work with Trilogy and exact Ambler, the
Ambler Road project. Exactly yesterday he did an executive order
concerning the Ambler Road project.
Speaker 3: If ever there was a case of really government wrongdoing,
it was reaching back, yes after Trump had left and
revoking that permit and then engaging in litigation it had
been improved. I've never seen one that before, David.
Speaker 1: Yeah, yeah, I mean, and that stock and that stock
pop Trilogy. It popped as soon as the market, as
soon as the market saw that Trump was going to
be elected, as soon as the returns came in, the
stock is tripled. And yeah, I mean it's and and
I don't know if you heard yesterday BC is following
in the same footsteps as far as as as far
as a streamlining permitting process. They announced on eighteen projects
worth about twenty billion dollars. They said that it's working
to accelerate the permitting process on these eighteen projects. And
one of those projects is the sk Creek Gold and
silver project being de risked by Skiiner Resources with which
is a stock that is that is in my portfolio
and that I've been covering from my subscribers in my
newsletter for the past year or so. And the stock
zoomed on that news, and there was a few others
that also benefited by that news. And I wouldn't be
surprised if you start seeing a streamline permitting process begin
in other provinces in Canada too, especially in Quebec and
Ontario where there's where there's a lot of mining projects.
Speaker 3: Yeah. Yeah, so things are really looking up for the sector. Huh.
Speaker 1: Absolutely, Yeah. I mean, if you if you take a
look at a few levels that are that are very
important here on the gd X and the gd x
J and the gd X, it's it's the forty dollars
level that was that was really strong resistance. Uh, going
back a few years, and it was during this during
this bounce after the after we had well, look we
had we had the gold price run up twenty seven
percent last year, and that at the end of the year,
the gold stocks just took a big dump following the
new mint, the new mine Cabaco the right costs, and
so at the end of the year the gold mining
index was the GDX was only up thirteen percent while
the gold price was up twenty seven percent, and that
basically got everybody throwing in the towel. So that forty
dollars level in GDX, it's been breached now this week.
If we get a weekly close above forty and then
a weekly close above forty, above fifty in the GDXJ,
it's starting it's reached there right now and it's become
a little short term overbought. That would be very bullish
for the sector. And a few more dollars above that
is where the recent highs were, and that would create
a three a three month handle for a four year
cup in both GDX and GDXJ. So remember we had
the thirteen year cup and handle break out of the
gold price above twenty one hundred back in March of
last year. So now we've got the same thing going
on in not only GDX and GDXJ, but the silver
price as well. And the number to watch in the
silver price has been thirty three. We've got over thirty
three dollars at silver futures yesterday and it's it's bouncing over,
it's it's there's seeing some profit taking there today. But
we need to see basically a little couple dollars higher,
a strong close, weekly close above thirty five dollars in
silver that would create a three month cup to go
along with a four and a half year handle and
the silver price. So we got we got the possibility
of cup and handle breakouts in silver and the miners,
and to go along with finally some mean reversion of
the gold price. And like I said, a lot of
these juniors, ones that I owned and cover in my
newsletter have really started popping, and several on a watch
list that I also have for my subscribers they're starting
to pop as well. So you finally starting to happen
in this sector.
Speaker 3: Yeah, after all these years, David, we've been to talk
and finally beginning to happen here. You know, you saw
like last month they painted the tape and basically gold
closed just under twenty eight hundred, you know, yeah, yeah,
you know.
Speaker 1: That's under twenty eight hundred, and we had I I
was hoping that that forty level and GDX and fifty
level and GDXJ we're going to get a monthly close
in January above those levels, but it was not to be.
But still, I mean, the way these juniors are acting now,
the market expects it coming. And it's also happening on
rising volume, which is what we need to see. And
another thing to point out is the the Canadian Venture Exchange,
right that the TSX venture. I mean, that's been in
the doldrums for so long, Oh my god, really low volume,
like just like I don't care about this sector volume, right,
it's been left for dead. Well, it's created also a
two and a half year in invert head and shoulders
accumulation bottom, and six forty is the level to watch
on that. It's it peaked above there yesterday and six
forty is a neckline of that of that two and
a half year inverse head and shoulders bottom. If we
get a strong close above six forty with some rising volume,
you succeed. You could see some explosive action in a
lot of these juniors.
Speaker 3: All Right, So if you've been holding off subscribing to
David's publication, now is probably a really good time to start,
because it looks like we're on the brink or on
the edge of a major move. And not to mention
all the uncertainty in the US with DOGE government spending
all this stuff that they're rooting out the you know,
the fraud day, it's.
Speaker 1: Just well, it's incredible. Yeah, what what Doge is uncovered
already is just incredible.
Speaker 3: Like Politico thirty two million bucks we gave him in Canada,
gave them money too. Nobody was given.
Speaker 1: Us Kelsey Clinton like eighty four million million dollars before
a metal list goes on.
Speaker 3: Yeah, it is breathtaking and staggering, and we're barely scratch
the surface of it, you know.
Speaker 1: Yeah, absolutely, And like I said, Gold is loving all
this chaos and uncertainty, and I don't see a reason
why it can't continue. Three thousand dollars is the target
of is the initial target of the cup and handle
breakout I mentioned earlier, and then the logarithmic target is
four thousand dollars an ounce and three thousand dollars an
ounce is also the target of the symmetrical triangle breakout
from that consolidation of the past three months.
Speaker 3: All right, so what about silver, what's it? What? What
do you think it's going to go up to?
Speaker 1: Well, like I said, thirty five dollars is the number
to watch. But you know, I think I wouldn't be
surprised if if silver didn't challenge, If silver challenged the
the fifty dollars all time fifty dollars high fifty dollars
level at some point before the end of the year,
that might be a little too dishes, But you know,
it's silver. When it runs, it runs fast, and it
runs high or low depending on the direction. You know,
silver tanks as fast as it as it surges whenever
there's whenever there's these accumulation points. And you know, we've had,
like I said, a four and a half year accumulation
in silver right around the thirty dollars level. And the
bigger the base, the higher in space, right, I mean,
that's that's basically what we got a setup here, and
we've already seen it in the goal price. And now
we've got the same setup. You know, a few a
year later in both the minors and silver. Yeah.
Speaker 3: All right, interesting times, interesting times, that's for sure. Uh, David,
just tell us where we find you, how we connect
with you on the web.
Speaker 1: Sure, Yeah, you can find me at Junior Minor Junkie
with a y dot com. And also every Friday, I
have a column on Kidko that comes out Friday mornings.
All right, if you want to like to get that
in your inbox, all you have to do is basically
sign up on my free email list when you log
into my.
Speaker 3: Web website exactly, and we have a link to that
in the show notes on Financial Survival Network dot com.
While you're there, we just ask you join over seventy
thousand other FSN community members. Sign up for your free newsletter,
and if you've got a question for David myself, always
shoot me an email klatcarrielets dot com. David always a pleasure,
Stay safe. We'll talk to you soon.
Speaker 1: Thanks, Kerry, looking forward talking to you again.
Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network. Your
solution to today's trying times. For the latest, go to
Financial Survivalnetwork dot com. Financial Survival Network now more than
ever