David Erfle - Gold Market Commentary – Tue 2 Jan, 2018

Many Reasons To Be Excited For The Metals In 2018

David Erfle, The Junior Miner Junky is bullish for the metals in 2018. We discuss the rebound that continues since the Fed rate hike in December. With gold and GDX up 11 of the last 12 trading days and up today bringing the short term charts to oversold but the CoT reports are a sign that this is more than just a bounce.

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  1. On January 2, 2018 at 11:50 am,
    Silverdollar says:

    Kunstler forecast: I expect the DJIA to move down sharply before the third quarter, rebound a little, and eventually bottom at 14,000 or lower by this time next year. I’ll call the S & P to settle in under 1,000. The NASDAQ may be the weakest, since its FAANG members — Facebook , Amazon, Apple, Netflix, Google (aka Alphabet)— are among the most mis-valued stocks, and the most based on vaporous products and services. Call NASDAQ to land at 2,700. Calling for a US dollar index (DXY) of 79 by December. Calling for gold $2,500 and silver $60 twelve months from now. There it is, like so much meat on the table.

    • On January 2, 2018 at 4:59 pm,
      Tony says:

      I like meat.
      Especially BBQ

  2. On January 2, 2018 at 11:52 am,
    Matthew says:

    I haven’t listened to the interview yet but David is right. There are many reasons to be excited about the pm miners this year.

    • On January 2, 2018 at 12:05 pm,
      Archdeacon Andrew says:

      Agree Matthew – Hope all going well for you and yours, Andrew

      • On January 2, 2018 at 1:55 pm,
        Matthew says:

        Thank you, Andrew, likewise.

  3. On January 2, 2018 at 12:02 pm,
    Silverdollar says:

    Hoping David is right with expectation of a correction this week. I was expecting a lower low in Dec. so still have some excess funds. I could stop this rise anytime (my past experience) by investing those funds but would rather wait for someone else to do that. Thanks for the interview Cory.

  4. On January 2, 2018 at 12:41 pm,
    Silverdollar says:

    Anybody else see this from Stewart Thompson: 23. “In the short term, the GDX price action is technically powerful. In the long term, I think relentless inflation will help Chindian citizens fall in love with Western gold stocks. While it will take time, that love affair should drive GDX to at least $5000 a share, and perhaps to as high as $20,000.” Full post from 321 Gold: http://www.321gold.com/editorials/thomson_s/thomson_s_010218.html

    • On January 2, 2018 at 5:40 pm,
      Excelsior says:

      Nice. Thanks Silverdollar.

  5. On January 2, 2018 at 12:43 pm,
    bonzo barzini says:

    Amigos, the bottom in TORXF could be in as I sold out today. Wish I’d sold@27 after buying@14, but I blew it.

    • On January 2, 2018 at 5:46 pm,
      Excelsior says:

      Hi Bonzo Barzini. I owned Torex in 2015 and 2016 but sold out a while back in the 2016 frenzy.

      Over the last year they ran into some violence on their worksite from gangs and illegal miners, and that really spooked a few folks and it was mentioned as a word of caution in a few reviews on different chat site. Then they got snared up in the GDXJ rebalance. like so many mid-tiers, and finally the year end seasonal weakness.

      Torex does look more attractive now at these levels, but then again, so does the whole sector 🙂 It could still be a nice acquisition target for a major.

      There are other Gold names that may have a bit more bounce though to rotate into.

  6. On January 2, 2018 at 1:06 pm,
    Markedtofuture says:

    2018 Economy Goes Cold – Inflation Hot – Danielle DiMartino Booth

    Former Fed insider Danielle DiMartino Booth is not optimistic about a surging economy in 2018. Booth contends, “We have seen 24 consecutive back-to-back months when credit card spending has outpaced incomes. That tells you households are struggling to get by. This is not Eve Saint Laurent handbags and Jimmy Choo shoes. These are families who are using their credit cards to take care of the necessities, to fill up the gas tank, to buy groceries and fill up their refrigerator. . . . We have seen month after month of subprime automobile delinquencies, and we are starting to see a big tic up in FHA mortgage delinquencies as well. . . . We are at almost 10% (delinquencies) of FHA mortgage loans. Underlying this sugar high that we will see from all of these hurricanes and rebuilding efforts and wildfires, underneath that, still waters run deep and the economy is not doing well. We are a consumption driven economy that is weakening underneath. The sugar high will absolutely wear off in 2018.”

    What about the bond market in 2018? Booth says, “We have gone from $150 trillion (in global debt) in 2007 to $220 trillion and counting today. If you delude yourself into thinking a rising rate environment can be good when we have tacked on $70 trillion of debt in the last decade, you are fooling yourself. It is an accident waiting to happen, and anyone who doesn’t think that it will take the stock market down with it is more optimistic than I am by a country mile.”

    Booth says, along with a “bond market debacle,” the world will see inflation right along with it. Booth explains, “Look at lumber prices, look at the cost of packaging, plastics, raw materials, the producer price index . . . is at a six year high right now. It’s called the mother of all margin squeezes. Companies are suffering. We have inflation. We have very real inflation, and it is hitting corporate America between the eyes. We have seen inflation happening, and we continue to see it happening . . . Rental inflation is off the scale. . . . Inflation is up for 2018, and it has been up. We can have deflation and inflation at the same time. If all of this debt that has built up, especially for households, if they are allocating more of their income to servicing debt, then they have fewer dollars to spend on other things. So, you are going to have deflation and inflation at the same time.”

    What does the regular guy on the street do? Booth says, “Figure out a way to have exposure to precious metals. Put your bubble vision on mute. You do not have to be invested in the market. That is a fallacy. Take what you have and pay down your debts.”

    Join Greg Hunter as he goes One-on-One with former Fed insider Danielle DiMartino Booth author of the popular book “Fed Up.”


      • On January 2, 2018 at 5:18 pm,
        OOTB Jerry says:

        borrowed this from b………excellent summary…….if, you do not think you have time to read all…….just skip to the bottom….

        • On January 2, 2018 at 5:35 pm,
          OOTB Jerry says:

          The Federal Reserve Act of 1913 and the National Banking Act of 1864 must also be repealed and all monetary power transferred back to the Treasury Department. The effects of this will be seen very soon by the average person as their taxes would start to go down as they would no longer be paying interest on debt based money to a handful of central bankers.
          A law must be passed to ensure that no banker or any person in any way affiliated with financial institutions, be allowed to regulate banking. Also the United States must withdraw from all international debt based central banking operations i.e. the IMF; the BIS; and the World Bank.
          If all the countries of the world adopted the conclusions above, then humanity will at last be free of these central bankers and their debt based currency.
          On January 2, 2018 at 5:11 pm,
          OOTB Jerry says:
          Get rid of the corrupt politicians…………FIRSTIt’s a lovely idea, but first we have to get it past our corrupt politicians many of whom are quite aware of the scam that plays us on a daily basis, however rather than do the job we have elected them to do, they keep their mouths shut and instead look after themselves and their families, whilst the rest of us continue to be exploited.

          • On January 2, 2018 at 6:27 pm,
            Markedtofuture says:

            Probe Uncovers ‘Irregularities’ In FBI Handling of Clinton Emails: “Laws Broken, False Statements”

            In what could be a major black eye for the deep state and yet another nail in the Clinton legacy coffin, The Hill’s John Solomon reports that Republicans on key congressional committees say they have uncovered new irregularities and contradictions inside the FBI’s probe of Hillary Clinton’s email server.


          • On January 2, 2018 at 7:09 pm,
            OOTB Jerry says:

            The first moment Comey opened his mouth in from of the House, ….knew there were “Irregularities” , if they had a brain..

  7. On January 2, 2018 at 3:43 pm,
    Excelsior says:

    2018 PREVIEW: Will Lead outshine Zinc or will strikes send Copper soaring?
    2nd January, 2018 – by Metal Bulletin