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Speaker 1: Gold is loving it, you know, I mean it's it's

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also brought. You know, We've got four more daily all

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time high closes in the gold price already since he

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was inaugurated, adding to the forty all time highs that

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were posted since March of last year. So yeah, all

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time highs. Yeah, I mean gold. Gold went over twenty

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nine hundred dollars yesterday.

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Speaker 2: You were listening to Carrie Letz's Financial Survival Network, where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than ever.

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Speaker 3: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host Carrie Let's. We are just

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getting started here in February. So much stuff going on.

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Price of gold at or near all time highs, Silver

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starting to break out over thirty two dollars the ounce,

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and who better to get their take than David Erfley,

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Junior Minor Junkie dot com. David, glad you survived the

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fires intact and our hearts go out to everybody who

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wasn't as fortunate as you, and I know you know

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a lot of them. They're all your friends and neighbors.

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But life goes on here meantime, higher gold prices and

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what's going on here?

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Speaker 1: Yeah, thanks thanks for having me on again, Carrie. It's

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you know, it's basically, you know, we got week three

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of the Trump presidency bringing more chaos and uncertainty into

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the marketplace, and gold is loving it, you know, I

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mean it's it's also brought you know, we've got four

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more daily all time high closes in the gold price

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already since he was inaugurated, adding to the forty all

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time high that were posted, uh since March of last year.

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So yeah, it all time huh yeah, I mean gold

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gold went over twenty nine hundred dollars yesterday and now

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you know, it's having a nice little pause here, some

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healthy profit taking, which is yeah. Actually and right ahead

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of the parable yeah, right ahead of the of the

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non farm pays report that's going to come out on Friday.

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But yeah, and there's there's just a lot of uncertainty.

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How is how is bestn't gonna go to finance the

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the the the deficit and the debt, and you know,

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we've got the tariff uncertainty. You know, he he announces

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tariffs then and announces a delay for a month for

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Canada and Mexico, and then he goes ahead and puts

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the tariffs on China, and they announced counter tariffs and basically, uh,

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a trade war is on. And you know, gold was

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basically in an eye of a perfect storm. The I

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began in October. You know, we had the gold price

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run up about one thousand dollars from late October twenty

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three to late October twenty twenty four. Trump gets elected.

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You know, that was basically sell the rumor, I mean,

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buy the rumor, sell the new the news. Right, gold

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had gotten way ahead of itself, extremely overbought. It was

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a positive, refreshed It had yet to have even a

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five percent correction during that one thousand dollars move from

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October twenty three to twenty four, it corrected about ten

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percent consolidated for about three months. That was the eye

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of the perfect storm in gold. And now it's starting

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to continue again. And this time though it's taking the

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mining stocks and silver along with it. As you know,

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as anybody who's listening to this interview right now knows

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and who follows this sector. Oh, both gold and the Yeah,

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both the miners and silver have been lagging for so long.

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And and basically the mean reversion that we've been expecting,

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we've been hoping for and expecting is starting to happen. Now.

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A lot of these juniors are popping. And a big

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reason for this is Trump coming in and streamlining permitting process. Yeah,

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he was a permitting process, that's all. A big one.

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Speaker 3: Look what he did with Trilogy.

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Speaker 1: We used to work with Trilogy and exact Ambler, the

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Ambler Road project. Exactly yesterday he did an executive order

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concerning the Ambler Road project.

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Speaker 3: If ever there was a case of really government wrongdoing,

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it was reaching back, yes after Trump had left and

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revoking that permit and then engaging in litigation it had

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been improved. I've never seen one that before, David.

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Speaker 1: Yeah, yeah, I mean, and that stock and that stock

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pop Trilogy. It popped as soon as the market, as

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soon as the market saw that Trump was going to

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be elected, as soon as the returns came in, the

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stock is tripled. And yeah, I mean it's and and

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I don't know if you heard yesterday BC is following

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in the same footsteps as far as as as far

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as a streamlining permitting process. They announced on eighteen projects

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worth about twenty billion dollars. They said that it's working

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to accelerate the permitting process on these eighteen projects. And

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one of those projects is the sk Creek Gold and

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silver project being de risked by Skiiner Resources with which

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is a stock that is that is in my portfolio

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and that I've been covering from my subscribers in my

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newsletter for the past year or so. And the stock

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zoomed on that news, and there was a few others

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that also benefited by that news. And I wouldn't be

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surprised if you start seeing a streamline permitting process begin

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in other provinces in Canada too, especially in Quebec and

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Ontario where there's where there's a lot of mining projects.

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Speaker 3: Yeah. Yeah, so things are really looking up for the sector. Huh.

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Speaker 1: Absolutely, Yeah. I mean, if you if you take a

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look at a few levels that are that are very

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important here on the gd X and the gd x

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J and the gd X, it's it's the forty dollars

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level that was that was really strong resistance. Uh, going

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back a few years, and it was during this during

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this bounce after the after we had well, look we

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had we had the gold price run up twenty seven

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percent last year, and that at the end of the year,

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the gold stocks just took a big dump following the

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new mint, the new mine Cabaco the right costs, and

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so at the end of the year the gold mining

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index was the GDX was only up thirteen percent while

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the gold price was up twenty seven percent, and that

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basically got everybody throwing in the towel. So that forty

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dollars level in GDX, it's been breached now this week.

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If we get a weekly close above forty and then

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a weekly close above forty, above fifty in the GDXJ,

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it's starting it's reached there right now and it's become

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a little short term overbought. That would be very bullish

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for the sector. And a few more dollars above that

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is where the recent highs were, and that would create

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a three a three month handle for a four year

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cup in both GDX and GDXJ. So remember we had

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the thirteen year cup and handle break out of the

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gold price above twenty one hundred back in March of

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last year. So now we've got the same thing going

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on in not only GDX and GDXJ, but the silver

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price as well. And the number to watch in the

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silver price has been thirty three. We've got over thirty

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three dollars at silver futures yesterday and it's it's bouncing over,

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it's it's there's seeing some profit taking there today. But

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we need to see basically a little couple dollars higher,

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a strong close, weekly close above thirty five dollars in

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silver that would create a three month cup to go

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along with a four and a half year handle and

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the silver price. So we got we got the possibility

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of cup and handle breakouts in silver and the miners,

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and to go along with finally some mean reversion of

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the gold price. And like I said, a lot of

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these juniors, ones that I owned and cover in my

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newsletter have really started popping, and several on a watch

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list that I also have for my subscribers they're starting

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to pop as well. So you finally starting to happen

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in this sector.

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Speaker 3: Yeah, after all these years, David, we've been to talk

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and finally beginning to happen here. You know, you saw

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like last month they painted the tape and basically gold

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closed just under twenty eight hundred, you know, yeah, yeah,

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you know.

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Speaker 1: That's under twenty eight hundred, and we had I I

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was hoping that that forty level and GDX and fifty

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level and GDXJ we're going to get a monthly close

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in January above those levels, but it was not to be.

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But still, I mean, the way these juniors are acting now,

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the market expects it coming. And it's also happening on

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rising volume, which is what we need to see. And

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another thing to point out is the the Canadian Venture Exchange,

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right that the TSX venture. I mean, that's been in

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the doldrums for so long, Oh my god, really low volume,

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like just like I don't care about this sector volume, right,

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it's been left for dead. Well, it's created also a

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two and a half year in invert head and shoulders

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accumulation bottom, and six forty is the level to watch

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on that. It's it peaked above there yesterday and six

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forty is a neckline of that of that two and

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a half year inverse head and shoulders bottom. If we

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get a strong close above six forty with some rising volume,

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you succeed. You could see some explosive action in a

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lot of these juniors.

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Speaker 3: All Right, So if you've been holding off subscribing to

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David's publication, now is probably a really good time to start,

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because it looks like we're on the brink or on

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the edge of a major move. And not to mention

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all the uncertainty in the US with DOGE government spending

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all this stuff that they're rooting out the you know,

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the fraud day, it's.

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Speaker 1: Just well, it's incredible. Yeah, what what Doge is uncovered

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already is just incredible.

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Speaker 3: Like Politico thirty two million bucks we gave him in Canada,

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gave them money too. Nobody was given.

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Speaker 1: Us Kelsey Clinton like eighty four million million dollars before

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a metal list goes on.

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Speaker 3: Yeah, it is breathtaking and staggering, and we're barely scratch

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the surface of it, you know.

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Speaker 1: Yeah, absolutely, And like I said, Gold is loving all

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this chaos and uncertainty, and I don't see a reason

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why it can't continue. Three thousand dollars is the target

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of is the initial target of the cup and handle

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breakout I mentioned earlier, and then the logarithmic target is

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four thousand dollars an ounce and three thousand dollars an

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ounce is also the target of the symmetrical triangle breakout

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from that consolidation of the past three months.

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Speaker 3: All right, so what about silver, what's it? What? What

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do you think it's going to go up to?

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Speaker 1: Well, like I said, thirty five dollars is the number

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to watch. But you know, I think I wouldn't be

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surprised if if silver didn't challenge, If silver challenged the

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the fifty dollars all time fifty dollars high fifty dollars

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level at some point before the end of the year,

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that might be a little too dishes, But you know,

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it's silver. When it runs, it runs fast, and it

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runs high or low depending on the direction. You know,

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silver tanks as fast as it as it surges whenever

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there's whenever there's these accumulation points. And you know, we've had,

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like I said, a four and a half year accumulation

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in silver right around the thirty dollars level. And the

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bigger the base, the higher in space, right, I mean,

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that's that's basically what we got a setup here, and

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we've already seen it in the goal price. And now

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we've got the same setup. You know, a few a

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year later in both the minors and silver. Yeah.

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Speaker 3: All right, interesting times, interesting times, that's for sure. Uh, David,

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just tell us where we find you, how we connect

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with you on the web.

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Speaker 1: Sure, Yeah, you can find me at Junior Minor Junkie

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with a y dot com. And also every Friday, I

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have a column on Kidko that comes out Friday mornings.

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All right, if you want to like to get that

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00:13:00,600 --> 00:13:02,679
in your inbox, all you have to do is basically

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sign up on my free email list when you log

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into my.

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Speaker 3: Web website exactly, and we have a link to that

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in the show notes on Financial Survival Network dot com.

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While you're there, we just ask you join over seventy

224
00:13:17,360 --> 00:13:21,600
thousand other FSN community members. Sign up for your free newsletter,

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00:13:21,960 --> 00:13:24,519
and if you've got a question for David myself, always

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shoot me an email klatcarrielets dot com. David always a pleasure,

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Stay safe. We'll talk to you soon.

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Speaker 1: Thanks, Kerry, looking forward talking to you again.

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Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network. Your

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solution to today's trying times. For the latest, go to

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Financial Survivalnetwork dot com. Financial Survival Network now more than

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ever