{"id":4018,"date":"2024-05-07T00:07:58","date_gmt":"2024-05-07T00:07:58","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/07\/david-erfle-golds-2024-price-potential-how-silver-gets-above-us30\/"},"modified":"2024-05-07T00:07:58","modified_gmt":"2024-05-07T00:07:58","slug":"david-erfle-golds-2024-price-potential-how-silver-gets-above-us30","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/07\/david-erfle-golds-2024-price-potential-how-silver-gets-above-us30\/","title":{"rendered":"David Erfle: Gold\u2019s 2024 Price Potential, How Silver Gets Above US$30"},"content":{"rendered":"<p><strong>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\u2019s now consolidating and how high it could go in 2024. <\/strong><\/p>\n<p>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. <\/p>\n<p>Erfle said gold could correct all the way back down to US$2,200, but emphasized that he remains bullish. <\/p>\n<p>\u2018It could correct down to US$2,200 and still be in an uptrend,\u2019 he explained. \u2018Gold\u2019s got a lot going for it right now, and \u2026 there\u2019s a lot of uncertainty in the stock market, there\u2019s a lot of uncertainty in Fed policy. So I\u2019m really not concerned about the gold price. I\u2019m 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\u2019ve failed to do thus far.\u2019 <\/p>\n<p>When asked about gold\u2019s upside potential, Erfle said that after a period of consolidation he sees US$3,000 as the next target. While that\u2019s not guaranteed to happen in 2024, he said he wouldn\u2019t be surprised if gold got there. <\/p>\n<p>He also discussed silver, including what it will take for the white metal to get past US$30 per ounce.<\/p>\n<p>Erfle noted that he doesn\u2019t think the US Federal Reserve will lower interest rates until it\u2019s forced to, and that\u2019s when he thinks silver will move. \u2018Being \u2018forced to\u2019 means the stock market really starting to crack and go lower \u2014 the S&amp;P 500 (INDEXSP:.INX) getting below 4,900 and really starting to move lower during an election year,\u2019 he said. <\/p>\n<p>\u2018Once 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,\u2019 Erfle concluded. <\/p>\n<p>Watch the interview for more of his thoughts on gold and silver.<\/p>\n<p><strong>Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":4019,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=4018"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/4018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/4019"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=4018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=4018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=4018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}