Is the bottom in for the correction in gold?

December 1, 2020

Dave Erfle joins me to focus on the bounce in gold, gold stocks and silver today. While some people are calling the bounce today as a bottom for gold it is still a little early. However there are some key moving averages that gold held that should give gold investors confidence that the downtrend could be over. We also look into Marathon Gold and the news today that is continuing to drive the stock higher.

Click here to visit Dave’s site – The Junior Miner Junky.

    Dec 01, 2020 01:30 PM

    Haopy birthday Jerry and Lee Trevino, one of the greatest Texan athletes.

      Dec 01, 2020 01:55 PM

      Thank you bonzo……..and Lee was a great one……

        Dec 02, 2020 02:16 AM

        Happy belated birthday dear Jerry!

          Dec 02, 2020 02:35 AM

          Thank you Norrareal appreciate the thought……

            Dec 02, 2020 02:37 AM

            BTW……..I appreciate you commenting , and giving us some added info….Helps some of us stay on track…..thanks again…

    Dec 01, 2020 01:02 PM

    I caddied in a group with Trevino in 1968, the year of his 1st major. Interestingly, Trevino won a Major at least once in each of the 60s, 70s & 80s. Only a handful have done that feat.

      Dec 01, 2020 01:17 PM

      Trevino never had a golf lesson but Nicklaus said in his book that he feared Trevino more than any other golfer.

      Dec 01, 2020 01:52 PM

      Did Trevino talk much? He is one of a kind.

        Dec 01, 2020 01:05 PM

        David don’t you think we need inflation to really see the metals and miners really take off.
        When you think we will see inflation unfold.

        Dec 02, 2020 02:44 AM

        Several years ago I saw Trevino play a round with Arnold Palmer, Gary Player, and Nicklaus and he never stopped talking, giving advice on what club to use and where to aim the shot. He was very funny. This was at the Woodlands north of Houston

    Dec 01, 2020 01:19 PM

    For the millionth time gold has bottomed! I will eat crow if it didnโ€™t…My $1781 long time hidden target was darn friggin close. Obviously some shares bottomed really early and others later on. Iโ€™m talking more specific spot gold or futures.

    I agree with and I have mentioned this that the low will get restarted but not fully. Thatโ€™s all I have to say lol..

    Cory short term and long term gold has bottomed here I have no doubts. My strategy or more specifically my system has been really good this year.

    I agree with david and yourself Cory that gold will rise slowly not V but the shares will rise at twice the speed!!Take that to the bank


      Dec 01, 2020 01:00 PM

      Glen……..You the Man………Set tight……..the turn around has started,…..2015 Dec. with a double bottom…..was the move up and few nailed here…….
      Matt was spot on, and little few payed attention……

    Dec 01, 2020 01:20 PM

    I meant re-tested but not fully close to it. That will the right shoulder formation ๐Ÿ˜‰

      Dec 02, 2020 02:03 AM

      Thanks Glen and Matt, lots of great technical stuff. Someone was looking for a copper company to invest in, quadruple since Sep. for Surge Copper.

      I wish I would have hung on longer.

        Dec 02, 2020 02:19 AM

        Nice, Dan, that chart still looks strong!

    Dec 01, 2020 01:28 PM
    Dec 01, 2020 01:39 PM

    Like most of the sector, $GDM accomplished a lot today:

    Dec 02, 2020 02:43 AM

    Possible pull back for a few days (Friday NFP?):
    May retest this morning’s high (1832.46).

    Dec 02, 2020 02:17 AM

    Glen, I do not think we will get the pullback in gold that you said would happen after it reaches about 1880.
    $2400 here we come…

      Dec 03, 2020 03:49 AM

      Thanks for the bb chart………….

    Dec 02, 2020 02:11 AM

    If not hit by lightning 45 years ago. If he had the opportunities of Nicklaus and Woods and the help. Nobody ever better. He was in a round with Tony Jack. TJ told Lee I won’t be chatting during the match. In other words don’t talk to me. Lee countered with no need for you to chat TJ. Listening will work just fine. He won a major a decade later after just about losing his life and being crippled with a bad back. Said Moe Norman was the best striker of the ball he ever seen. Class act doing lots for charity. No one ever like him and might not be like him again

    Dec 02, 2020 02:32 AM


    The bottom is in just in case you have me confused. Weโ€™re not going lower. In regards to the charts, I was looking at a pattern which has us going today possibly $1840/1845 overnight.. tomorrow hitting that $1880 zone then Friday a final good scare on the weekly candle down. Maybe testing $1780 but that would be a flash crash..

    My scenario may not play out but the head formation is completing. Time to form the other shoulder soon lol..

    Yes $2400 we can discuss numbers at a later point. Projections etc..

      Dec 02, 2020 02:59 AM

      Glen, I hope you’re not confused. ๐Ÿ˜‰
      I was referring to something you said yesterday: “This move will have us go to $1886-$1990 region โ€œ give or take. Precise number Iโ€™m looking for is $1888. From that level we should drop to retest these lows.”

        Dec 02, 2020 02:00 PM

        I do not think we’ll get your pullback to retest the low.

          Dec 02, 2020 02:19 PM


          Matt Yes Iโ€™m still not ruling out slightly higher to those targets โ€œ give or takeโ€ and then to retest the lows around โ€œ$1785-$1795 area.

          But I could not disagree or disregard your statement as well. It looks good ๐Ÿ™‚

      Dec 03, 2020 03:51 AM

      Glen……..the old “flash crash”…is going to scare the boyz…. ๐Ÿ™‚

        Dec 03, 2020 03:54 AM

        Are we now looking at $2400…gold……if, so, when, next quarter……thanks…..?
        Matt or Glen….appreciate the thoughts……

          Dec 03, 2020 03:59 AM

          Never mind……….I see your later comments on another section…..I am playing catch up, from Wed….I took the day off….. ๐Ÿ™‚