Kitco News, Released on 9/15/22
David Erfle, founder of the Junior Mining Junky, discusses gold’s near and long-term future with David Lin, Anchor of Kitco News at the Precious Metals Summit at Beaver Creek.
0:00 – Gold down 2%
4:53 – Fed hike next week
6:00 – Gold/silver traders’ positions
6:25 – Gold price outlook
6:55 – Triggers for higher gold
8:11 – Fed rate hikes and gold
9:20 – Gold miners
David Erfle is a self-taught mining sector investor. He stumbled upon the mining space in 2003 as he was looking to invest into a growing sector of the market. After researching the gains made from the 2001 bottom in the tiny gold and silver complex, he became fascinated with this niche market. So much so that in 2005 he decided to sell his home and invest the entire proceeds from the sale into junior mining companies. When his account had tripled by September, 2007, he decided to quit his job as the Telecommunications Equipment Buyer at UCLA and make investing in this sector his full-time job. David founded the Junior Miner Junky subscription-based newsletter in April, 2017 and writes a weekly column for precious metals news service Kitco.com.