The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Investing

David Erfle: Gold’s 2024 Price Potential, How Silver Gets Above US$30

by admin May 7, 2024
May 7, 2024
David Erfle: Gold’s 2024 Price Potential, How Silver Gets Above US$30

David Erfle, editor and founder of Junior Miner Junky, shared his thoughts on gold, explaining what factors have pushed it to new levels, why it’s now consolidating and how high it could go in 2024.

In his view, the yellow metal started to break out for macroeconomic reasons, and picked up momentum when tensions in the Middle East heated up. With the situation now looking calmer, gold has pulled back.

Erfle said gold could correct all the way back down to US$2,200, but emphasized that he remains bullish.

‘It could correct down to US$2,200 and still be in an uptrend,’ he explained. ‘Gold’s got a lot going for it right now, and … there’s a lot of uncertainty in the stock market, there’s a lot of uncertainty in Fed policy. So I’m really not concerned about the gold price. I’m more concerned about when the gold stocks are going to finally start to react like they historically react, and show two to three times leverage on the gold price, which they’ve failed to do thus far.’

When asked about gold’s upside potential, Erfle said that after a period of consolidation he sees US$3,000 as the next target. While that’s not guaranteed to happen in 2024, he said he wouldn’t be surprised if gold got there.

He also discussed silver, including what it will take for the white metal to get past US$30 per ounce.

Erfle noted that he doesn’t think the US Federal Reserve will lower interest rates until it’s forced to, and that’s when he thinks silver will move. ‘Being ‘forced to’ means the stock market really starting to crack and go lower — the S&P 500 (INDEXSP:.INX) getting below 4,900 and really starting to move lower during an election year,’ he said.

‘Once you get the silver price breaking out above US$30, I think that will really get the bull market going in gold, and especially gold stocks. And we also need to see the gold-silver ratio trending below 80,’ Erfle concluded.

Watch the interview for more of his thoughts on gold and silver.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Aclara Awards the Carina Module Pre-Feasibility Study Contract To Hatch
next post
Highly Experienced Lithium Professional Appointed as Managing Director

Related Posts

Exclusive Interview: Energy Technologies CEO Nick Cousins

December 1, 2024

Tribal Conflict Leaves 30 Dead Near Porgera Gold...

September 17, 2024

AI Market Update: Q3 2024 in Review

October 24, 2024

AI Defines 18 New Gold Targets at Music...

February 18, 2025

You’re Invited to Join Nuvau Minerals Corp. at...

March 1, 2025

Per Jander: Uranium Still “Very Early” in Cycle,...

March 15, 2025

Top 4 Vanadium-producing Countries

May 30, 2025

5 Biggest AI ETFs in 2025

March 6, 2025

Galena Mining Limited (ASX: G1A) – Trading Halt

January 11, 2024

SolGold Secures US$750 Million for Cascabel Project via...

July 16, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,402)
    • Investing (3,381)
    • Politics (4,562)
    • World (4,498)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved