Dave Erfle – Gold Bottoms In 7 Year Cycles
Dave Erfle, Founder of the Junior Miner Junky, joins us to outline the pattern of gold bottoming in 7 year cycles, and why that has him cautiously optimistic that we will be seeing the bottom in 2022. He points out that the precious metal bottomed in 2001 during what was dubbed “the Brown bottom” and also synching up with the end of the Dot Com bubble, followed by the bottom 7 years later in 2008 due to Great Financial Crisis, and then the bottom 7 years later in late 2015 as the Fed was about to start their first rate hikes in near a decade.
We also recount how everyone was so sure gold was going to break above $2000 in the year 2011, and conversely how everyone was so sure gold was going to break below $1000 in 2015/2016, but neither of those actually happened. We pose the question that with everyone convinced gold is going to break below $1675 support, if we aren’t at one of those similar inflection point, and Dave lays out a number of contrarian data points that could provide a catalyst to prevent the breakdown so many are convinced is a foregone conclusion.