Gold Miners Not Done Selling Yet, Says Expert Kitco NEWS

Gold miners could see more pain before prices get better, said David Erfle, founder of JuniorMiningJunky.com.

“Miners have already given up more than half their gains, the big tell that gold was not going to bounce very high here was silver was lagging considerably and so were the miners. So unfortunately, on the bad news, there’s going to be a little more pain, but the good news is prices are going to get even better,” Erfle told Kitco News.

Erfle said that a few of his top mining picks in today’s environment are Atlantic Gold (AGB.V), and West Dome Gold Mines (WDO.TO), however, he wouldn’t get into long positions right away.

On gold, the precious metals is yet to see a bottom, and investors should be wary of jumping in too soon, Erfle said.

“If gold did not close about $1,200 [an ounce] on a weekly basis last Friday, then it sets up more pain for the gold sector here, possibly $1,140 or even maybe $1,125,” Erfle told Kitco News.
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Gold Miners Not Done Selling Yet, Says Expert
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News & Politics	Upload TimePublished on 24 Aug 2018
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