David Erfle - Gold Market Commentary – Wed 23 Jan, 2019

Recapping VRIC and The Slight Rollover In Gold and GDX

David Erfle, Founder of The junior Miner Junky joins me today to recap the recent Vancouver Resource Investment Conference (VRIC) that was held last Sunday and Monday. We both provide some thoughts on what this conference is telling us about the overall sector. We also look at the gold and GDX charts to project where they are going in the next couple months.

Click here to visit David’s site for more information on his newsletter.

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Comments:
  1. On January 23, 2019 at 11:44 am,
    Sam Arena says:

    What’s up with the big drop in PAAS the other day after earnings? I didn’t think they were that bad.

    • On January 23, 2019 at 1:05 pm,
      spanky says:

      PAAS has been a superstar among silver miners. The divergence between it and something like HL and other weak silver miners just grew too great and it was due to give some of the ridiculous out performance back.

      Still it would have been nice if HL could have come up to close the distance instead of PAAS dropping.

      HL looks like it wants to break down again–absolutely unbelievable weakness. Talk about a depressing stock. I don’t own it but I can only imagine what shareholders are going through.

    • On January 23, 2019 at 1:17 pm,
      spanky says:

      A bunch of other miners got mollywhopped in the last couple of weeks–AG is the one that comes to mind since I own it, unfortunately. This sector is absolutely despised, no bones about it.

      I imagine if we break the recent lows it is going to crush the gold bugs that are left. Last one out, turn out the lights.

  2. On January 23, 2019 at 12:30 pm,
    spanky says:

    $HUI:$gold has broken down significantly below the Ichimoku cloud on the daily chart. Not bullish at all. Could it recover? It’s possible, but the miners need a big big day and quickly. January 15th really did a number on the miners’ technical picture.

    Pretty ugly action. Definitely not textbook bull action, that is for sure.

    Even if this rally is the beginning of a new bull run, you have to wonder what kind of upside is possible even if gold rockets higher. Assuming this rally is legit, it smacks of 2008, where the miners only initially outperformed gold and never came close to reaching the 2004 peak in $hui:$gold.

  3. On January 23, 2019 at 12:38 pm,
    spanky says:

    $HUI:$gold just reinforces that miners are just not worth it on a risk adjusted basis at all. Heck, on an absolute basis they have been crushed by $gold for 15 years, which makes gambling on miners seem like shear idiocy.

  4. On January 23, 2019 at 12:41 pm,
    spanky says:

    The $HUI is trading at the same level as when $gold was $1200. What a joke.

  5. On January 24, 2019 at 5:28 am,
    Excelsior says:

    World’s Top Maker of Battery Cells for EVs to open German Plant in 2021

    Cecilia Jamasmie | about 21 hours ago

    http://www.mining.com/worlds-top-maker-battery-cells-evs-open-german-plant-2021/