Dave Erfle – Mixed Economic Data, Range-bound Precious Metals Prices, And Poor Investor Sentiment Requires Patience And Due Diligence
Dave Erfle, Founder and Editor of The Junior Miner Junky, joins us to review the mixed stew of recent macroeconomic data points, the range-bound precious metals sector, and his technical and fundamental outlook on the markets. We review the reaction in various markets this week to flurry of economic data from company layoffs and hirings slowing contrasted against yet another “better-than—expected” NFP jobs report, the unemployment rate rising, the debt ceiling political theater coming to the expected end, and the probability of all this leading to the Fed doing a more hawkish pause at the next FOMC meeting.
Gold and Silver have further whipsawed in a trading range, and Dave provides support and resistance levels he is watching in the yellow metal, in GDX, and in GDXY. We wrap up by diving down into the junior PM mining stocks, which have continued selling off, even on good news and key milestones. The Junior Mining Junky reiterates why investors need to exercise patience and spend time on resource company due diligence during these time periods, analogous to other sluggish periods before big rallies took the sector higher.