Dave Erfle – Was There A Potential Turn In The Precious Metals Space This Last Week?
Dave Erfle, Founder and Editor of The Junior Miner Junky, joins us to review the key technical price support and resistance levels in gold, GDX, GDXJ, silver, and the US dollar, as well as seasonality patterns, to ascertain if we may have seen a key turn in the precious metals sector this last week.
Additionally we look at the continued weak valuation being seen in the largest and most followed gold producer, Newmont (NEM) (NGT) as its price continues to break down in tandem with its acquisition of Newcrest Mining (NCM) (NCMGF). This leads to a larger discussion about what factors may drive more merger and acquisition transactions from the mid-tier gold and silver producers in the PM sector. It all comes back to seeing a sustained breakout in gold and silver prices that start to create some upwards momentum in the sector, which will bring in more investors.