Dave Erfle – War Premium Fades What’s Next For Gold, GDX, Silver & Q2 Earnings Setups
Dave Erfle, founder and editor of Junior Miner Junky, joins us for a discussion on the precious metals sector amid intense geopolitical volatility and Q2 market positioning.
Oil prices spiked and reversed sharply on Middle East tensions, but gold remained impressively resilient near all-time highs. Dave shares his technical outlook on gold, silver, and the miners (GDX & GDXJ), along with insights on broader market sentiment as Q2 comes to a close.
Key themes covered:
- How markets are pricing in the war premium in oil and gold
- Gold holding strong above $3,300 with limited geopolitical spikes
- GDX and GDXJ gap fills and why buyers stepped in fast
- Silver’s breakout retest and the importance of the $35 level
- Why Newmont’s leadership could signal growing generalist interest
- Looking ahead to Q2 earnings: are bullish surprises still possible?
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.
Correction :
Current QMA Au ~ 3290
Last. ~ 2858
Yes, it’s been a nice jump in the quarterly moving average over the prior quarter for sure.
This is why I’m not really convinced that all the potential upside moves in the gold producers have been entirely priced in for what is coming… with regards to Q2 earnings.
This should be an absolute blowout quarter, and eventually the earnings and margins of the gold miners and royalty companies, and even the silver producers are going to be too large for generalists to ignore.
Again ….I don’t fully understand it fully so I’ve never joined the crowd but …..Loop Capital raised its price target on NVIDIA Corporation (NASDAQ:NVDA) to $250 from $175, saying capital spending on chips that power generative AI systems is growing far faster than investors expect.
If you are in the business world selling a product it is much better to get a fast nickel than a slow dime. But in the stock market you have to be a good stock picker and have patience, in short, the opposite is true.
Take Golden Cross Minerals they have an exciting story and speculators love the thrill of the drill machine hitting paydirt so they will pony up money to get in the race and the odds are probably better at the racetrack verses the truth machine.
Now if you look at West Red Lake Gold Mines, they are about to print real wealth (GOLD) but their exploration excitement is behind them. The mine is built it is just a waiting game as all the other components are in place.
I like both stories and am in both stocks, but it shows you that human nature is addicted to exploration stories when it should be the other way around. It’s all about human emotion and the pendulum. DT
Current Quarterly MA for Au ~ 32.90
Ag ~ 33.50
Last QMA. Au ~ 28.58
Ag ~ 31.54