Prospector News Publisher Michael Fox is joined by the Junior Miner Junky David Erfle to discuss the wild ride the precious metals markets have been on. Gold Hit a new intra Day high price before crashing back to what seems to be a new bottom resistance of $2000. The Fed meeting has put a renewed bid back into gold just in time for the holidays. David feels that a close at the end of the month above $2100 could signal break out in gold finally.

Silver also was whipsawed in the same pattern as its big brother Gold. We discuss the OPEX of most silver miners being North of $26 per ounce. It would seem that silver’s resistance in the upper end is at the $27 mark. Closing past this point could bring about a breakout in Silver as well

As far as the miners go, the tide will not likely lift all ships as there are a number of juniors who are de-risking projects that are currently too small to be legitimate takeover targets. Therefore, this market break out will favor the stock pickers with quality Junior miners in their portfolios.

The Junior Miner Junky