Dave Erfle – Gold Price Surge, Asian Demand Soaring, and Junior Miner Momentum
Gold continues to outperform pretty much every asset class, rallying over $100 to surpass $3,400/oz, after a recent quick correction and major Asian markets being closed. Dave Erfle, founder of the Junior Miner Junky, joins us for a wide-ranging conversation on gold’s latest surge and what it means for investors in both major producers and junior explorers.
Key Themes Covered:
- Asia driving demand: We break down the resurgence of Chinese and Indian buying, record Shanghai Gold Exchange volumes, and what this eastward shift in pricing power signals for the global gold market.
- Geopolitical catalysts: Ongoing tensions across multiple regions, from the Middle East to Asia, are creating the kind of safe haven bid gold thrives on. On top of that, faith in US government bonds and fiat currencies erodes.
- Gold vs US assets: With US equities underperforming and bonds falling out of favor, gold, and notably gold stocks, are becoming the new capital safe haven.
- The juniors are catching fire: Dave highlights a rotation underway as investors start locking in gains from major miners and redeploying into undervalued developers and PEA-stage companies, many with projects far more valuable at current spot prices than their market caps reflect.
We also explore the role of interest rates, the Fed’s fading influence, institutional inflows into gold ETFs, and the growing disconnect between gold and the broader stock market.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.
Glad I bought Hecla’s crash last week…
https://schrts.co/teUsBEgT
HL:GLD with back-to-back bullish reversal candles…
https://schrts.co/HyInHjqi
Nice line chart! I bought it too
The volume this year has been impressive!
https://schrts.co/MinzzBVc
Yes. The twin dips over the last 30 days both had fairly large volume spikes. I bought both dips. Bolly bands are wide so seems like it could stay down for a while and consolidate, but I also think it could spike back up. The bull is doing all it can to throw folks off. Lots of volatility in this one which makes me believe there is a massive tug-of-war underway with the shorts and strong hands.
The daily BBs are wide but the weeklies are relatively narrow. If something manages to take it lower I’ll be an aggressive buyer at the quarterly BB (currently 3.48). Those BBs are the narrowest they’ve been in 30 years.
The volatile action is sure consistent with a new bull market.
Looks a little bear flagish this morning.
Matthew, what do you think of HL’s new CEO who replaced Baker, and the recent deal with DVS? I own DVS and HL.
The silver miners look a lot more appealing than the gold miners, even short term.
SILJ:GDX
https://schrts.co/ttQdqPBC
SLV leaped above significant resistance and suddenly looks good to go.
https://schrts.co/YkhkXXwe
The usd looks even more bearish than it did a month ago.
https://schrts.co/PaVsSIXT
GLD:SLV finished the day at fork resistance on the 60 minute chart.
https://schrts.co/WwyWisrP
Is the 8 month downtrend in HL versus silver over? My guess is yes.
https://schrts.co/xhBidNfy
hi, Matthew. many out of market now. could this year be like 2016? thank you.
Hi Alex, Tuesday is Matthew’s night out to go to the Badda Bing and check out the eye candy. It will probably be a few more hours before he can respond. LOL! DT 😜😜😜
Hi Alex, the short answer is yes, this year could absolutely be like 2016. The market is on very different fundamental and technical footing but BIG upside potential for our miners IS present and actually far more compelling for a sustainable move higher. The 2016 move was a mean reversion “relief rally” that had no chance of sustaining itself while the current setup is a once or twice in a lifetime opportunity that will launch a multiyear bull market.
SILJ:GLD monthly:
https://schrts.co/DkUArCHv
Gold is up another $100 today; please can we get a day with at least $200. I’ve got my apple cart out of the garage so I can make some money this summer. Maybe I’ll add some roasted chestnuts. LOL! DT
https://www.tradingview.com/x/FNVTm4Bp/
NatGas : COB : More Downside?
(Phantom Gartley)
The dollar is down 69% vs gold in the last 9.3 years.
https://schrts.co/WWhItvdq
The dollar is down a whopping 93% vs gold since March, 2001.
https://schrts.co/uacHzkmA
https://www.tradingview.com/x/17ASnLWL/
DOLLAR : Phantom Gartley Layout
Unfortunately, the post market slam Tuesday, as Gold topped at about 78.6%, calls into focus a potential bearish Gartley formation. Spot*: 3499~3204~3439 (exact 78.6%~3436). If not resolved (3439 broached), primary ABCD targets are 3144 (1:1) and 2997 (1:1.5).
*Bullion Vault (current GLD to Spot multiplier: 10.868).
The gold price needs to correct possibly to the $3200 level and then it will start to move up again. I don’t see that as bearish, that’s healthy. DT
Dryden Gold hits a new discovery!!!!!! DT
Vancouver, British Columbia–(Newsfile Corp. – May 7, 2025) – Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) (“Dryden Gold” or the “Company”) is pleased to announce drill results for the new hanging wall discovery on the Elora Gold System in the Gold Rock Camp. The Company first announced this intercept with significant visible gold (“VG”) on April 8. Assays have now confirmed results of 301.67 g/t over 3.90 meters including 1,930 g/t over 0.60 meters and represent a newly discovered hanging wall zone with folded quartz stringer veins hosted in sheared basalts (Figure 1). This newly intercepted hanging wall gold mineralization in hole KW-25-003 is approximately 80 meters from main Jubilee high-grade zone at a true depth of 250 meters (Figure 2).
GDX is looking good.
https://schrts.co/EmRVGXEQ