Weekend Show – Dave Erfle & Josef Schachter – Gold Over $4,200, Silver at All-Time Highs & Energy Stocks On Sale
In this Thanksgiving weekend edition of The KE Report, we first sit down with Dave Erfle to dig into the current consolidation in gold and silver, the surge in quality juniors, and what could still go wrong. In the second half, Josef Schachter breaks down why natural gas looks fundamentally stronger than oil, how LNG, data centers, and storage trends are reshaping the market, and where dividend and growth investors can find value in beaten-up energy names.
- Segment 1 & 2 – Dave Erfle, founder and editor of Junior Miner Junky, discussing gold’s consolidation around a new floor near $4,000, silver’s leadership as it builds support near $50, and the resulting strength and takeover activity among quality precious-metal miners. He also highlights sector risks, the impact of recent financings and dilution, limited tax-loss selling pressures, and how he’s managing and rotating junior mining positions into year-end.
- Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter – https://www.juniorminerjunky.com/
- Segment 3 & 4 – Wrapping up the show is Josef Schachter, founder and editor of the Schachter Energy Report and the Eye on Energy report on Substack, who outlines a bullish case for natural gas driven by LNG exports, data-center demand, and tightening storage, while maintaining a cautious but opportunity-focused outlook on oil. He also highlights where investors can find value in dividend-paying and growth-oriented energy equities ahead of a potential multi-year sector uptrend.
- Click here to learn more about The Schachter Energy Report – https://schachterenergyreport.ca/. And check back in December to take advantage of his upcoming special.
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Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests may own shares in companies mentioned.
https://www.tradingview.com/x/gSyNlcmS/
Detail : Gartley Golden C Possible
https://tinyurl.com/2xx2pfyc
Trend/Turn/Timing (Nov)
(Dec) Sunday Night
Gold beat last month’s record high close by $212…
https://schrts.co/MUvJIBdp
Christopher Aaron made the most absurd comment after last month’s high but he’s far from the only one who couldn’t see how bullish silver had become.
Silver has now broken out of a fork that it last broke out of in August, 2010, just before going up 2.5x in 7-8 months. In 2011, silver topped at 460% above the 200 month moving average. Today, that level is above $126 and rising.
https://schrts.co/RyaxSFsK
Matthew, Gold is the big question. Silver has been the ‘tell’ for a long time, but Gold must breakout to avoid a significant divergence. I think a realistic attempt will be made sooner rather than later. Maybe in December! BDC
https://www.tradingview.com/x/N4aAWJbM/
From a few days ago. Still valid.
https://www.tradingview.com/x/hq37sYs2/
Silver too.
BDC, gold is a question but I don’t believe it is a big question since it tends to perform (nominally) best when silver is the stronger one of the two. However, if the situation were the reverse with gold broken out and silver lagging, I would have some concern about the whole sector.
We have massive inflation coming and big money is positioning for it. Silver is always the first logical step out on the risk curve for leverage to gold but now it has more going for it than ever.
With that said, I do think the whole sector will perform noticeably better when gold confirms silver with new highs of its own.
Silver now has a tentative P&F price objective of over $124 when using the Dynamic ATR scaling method.
My desire for a longer period of sideways consolidation looks like a fantasy now (I thought it would better for the magnitude and health of the bull), but it just goes to show you why you don’t get cute when this kind of an opportunity was staring you in the face. I did pick up a very small bit of additional HL around $12.50 with the last bit of cash I had, as I mentioned weeks ago.
My next price target for HL is the 1980 high around $35. Francis Hunt has a price target of $84, which he thinks will be just a resting point (I am not sure about the methodology he used to come up with that number). The gigantic inverse head & shoulders pattern going back to 1968 has already triggered and has a PO of about $240, which is my own calculation based on the log chart.
Does anyone else have any logical scaling out levels for HL?
Silver Equities Are Not Yet Factoring In Just How Much Silver Has Surged
Excelsior Prosperity w/ Shad Marquitz (11-29-2025)
Charts of Silver, SIL, SILJ:GDX, Coeur Mining, Vizsla Silver, AbraSilver, Blackrock Silver
https://excelsiorprosperity.substack.com/p/silver-equities-are-not-yet-factoring
Gold, GDX, Silver, SIL, Copper, COPX Closed November At All-Time Monthly Highs
Excelsior Prosperity w/ Shad Marquitz (11-28-2025)
https://excelsiorprosperity.substack.com/p/gold-gdx-silver-sil-copper-copx-closed
If you want silver, sure these explorers have millions of ounces in the ground but I prefer larger producers with mines like Terronera. If you want more leverage, buy calls. If you want ounces in the ground there are a billion or more ag/eq of those at pitarrilla…perfect.
CDE is also perfect.
I like having some of each stage of company in the portfolio, and sure, Endeavour Silver and Coeur are solid companies and have heavier weighted positions to both of them.
Vizsla and AbraSilver are not just explorers, they are advanced developers. Vizsla is Feasibility stage, with the capital stack coming together with construction in 2026, and first production of silver in 2027. AbraSilver has applied for Argentinian RIGI support for taking export duties to $0 by year 3 and locking in multi-decade tax savings and is putting out their Definitive Feasibility Study in the first half of next year (which will likely trigger a buyout by a larger producer). Blackrock is a bit earlier-stage since they are working on updating their resource and PEA, building upon the prior resource and prior PEA, but starting to evolve into much more than just exploration story and more towards a developer.
As always, a professional piece covering all the bases Shad.
Much appreciated Marty.
Gold, GDX, Silver, SIL, Copper, COPX Closed November At All-Time Monthly Highs, Hi Ex, why did this happen now! Is it because of other assets like crypto’s turning down and money coming into our sector as a result. What is the implication? Is this possibly because of a scarcity due to the prosperity of other nations grabbing a bigger piece of the world economic pie. Or general uncertainty and fear and jeopardized American investments abroad. Or the checking of outrageous excessive money printing. Does this signal the end of the tech boom. Or the loss of buying power of The American public. Or the endless printing of money to finance endless Wars?
Or does it come down to the inflation of everything, or all of the above and more happening in a turning point in History. It seems to me that like you pointed out Ex, we are at a turning point in World History! DT
Yes DT. It seems to be a bit of all those reasons and catalysts that you mentioned, and that was a key inflection point for hard assets to close up the month of November.
FWIW, HL:gold appears to have broken out of a descending wedge formed since about the year 2000 on the monthly chart. I believe the PO is about .055, which was last hit in the mid 1980s.
keep in mind HL’s performance vs gold has more or less been a series of lower lows and lower highs since HL was listed on the NYSE in 1968–in other words absolutely miserable. I think a very significant first step will be to take out the 2021 peak in the ratio, which isn’t too far away now.
Ethereum death cross and rejection at the 600 day EMA…
https://schrts.co/wTnqdEdC
Weekly
https://schrts.co/Kaqaqrkm
https://www.tradingview.com/x/ieOoHQ76/
ETHEREUM : (Crypto Bottom Likely)