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Mining Stocks Could See ‘Waterfall Declines’ - David Erfle
Self-made mining investor David Erfle is standing on the sidelines for now, waiting for gold prices to fall lower before he starts putting capital into the mining sector again, at least that was his main message to Kitco News when giving his 2017 outlook on the industry. ‘I think you’re going to feel a little more pain,’ he told Daniela Cambone. ‘I’m not going to commit any more capital into any miners until I see the gold price go below $1,100, which I think we’re really close to happening.’ February Comex gold futures continue to struggle, last trading down 0.19% on the day at $1131 an ounce. However, Erfle remains fairly optimistic for the gold price over the longer term as he says the mining sector has reached ‘peak gold.’ ‘I think you will see is a capitulation-type move to where the gold prices gets down below $1100, maybe even below $1,000, very quickly but it can’t stay down there for very long.’ Erfle also shares his top 3 mining stock picks for 2017 and why he is concerned there may be a ‘waterfall decline’ in store for miners in the coming days. (show less)
Self-made mining investor David Erfle is standing on the sidelines for now, waiting for gold prices to fall lower before he starts putting capital into the mining sector again, at least that was his main message to Kitco News when giving his 2017 outlook on the industry. ‘I think you’re going to feel a little more pain,’ he told Daniela Cambone. ‘I’m not going to commit any more capital into any miners until I see the gold price go below $1,100, which I think we’re ... (read more)
Gold & Silver Outlook 2017
Every December, Kitco News launches its Outlook series, giving viewers a unique perspective as to how experts think markets will move in the coming year. Will 2017 be the Year of the Raging Bull? Outlook 2017 will aim to answer that question by covering topics ranging from the global economy, the U.S. dollar and, of course, gold and silver. Don’t miss our coverage, which will include opinions of some of the most well-known names in the industry. And, look out for our most popular features like our coveted Invest Like The Experts series as well as our newest feature: the Most Fascinating People of 2016. Enjoy and happy holidays!Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
