Called $XAU bullish on Nov 7, 2024: $XAU rose 96% in 15 months.
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Sharing information on gold/silver miners and everything that impacts them. #gold #silver Visit my website at https://t.co/bwekNZIHrQ
Cite asCryptoQuant has tracked the directional calls on SPY by @DonDurrett on X since Sep 2022: not yet scored on SPY (as of Nov 11, 2026).
Relative view by default: fewer than 30 SPY calls or days on record.
Sentiment timeline shows relative sentiment within this analyst's history. A perma-bull showing 8 bullish : 2 bearish in a bear market sets that as their baseline. If you notice any errors, claim @DonDurrett to submit corrections.
Called $XAU bullish on Nov 7, 2024: $XAU rose 96% in 15 months.
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Friday Recap Current (Last Week) -- (% from ATH | ATH) AU: $4,070 ($3,874) -- 27% from ATH ($5,608) AG: $51 ($49) -- 58% from ATH ($121) HUI: 737 (649) -- 25% from ATH (986) DXY: 102 (101) S&P 500: 7,376 (7,534) -- 6% from ATH (7844) Remember, remember the 5th of November (V for Vendetta). I’ve been saying over and over that the key for gold/silver/miners is for gold to significantly outperform (over an extended period) the stock market. I have been waiting for that outcome since 2011. On November 5th this week, I think that outcome might have begun. NVIDIA was down 9%, pulling the S&P down 4.35%, and near the 200 DMA. The S&P closed today at 7376, which is only 50 points above the 200 DMA. That is the level where investors will get nervous. If the S&P remains below the 200 DMA for over a month, the chance of the onset of a bear market increases substantially. The last extended gold/silver/miner bull market began when the Dotcom bubble burst in January 2000. Gold ripped from $250 to $1900 over the next 12 years. While the stock market languished for over a decade, gold/silver/miners flourished. I think we can expect history to rhyme. Incredibly, during that era, gold wasn’t a go-to fear asset like it is today. Instead, it benefited mostly as a mo-mo asset that had been ignored for 20 years and was incredibly cheap. Note that inflation was non-existent during that era. Today, gold has become the go-to asset that central banks and governments are buying. That trend is only likely to increase if the US economy and US bond market weaken. Plus, the average investor, pension fund, insurance company, sovereign wealth fund, and billionaire have very little exposure to gold and gold/silver/miners. This is likely to change. That dynamic did not exist in the 2000s. The coming fear trade is going to push many different types of investors into gold for the first time. I remain bearish gold in the near term, but uber-bullish once the S&P falters. I expect gold to soon drop to a new 2026 low between $3750 and $3850. I want to be wrong, but I expect a sell-off on Wall Street once we get below the 200 DMA. A 3-day sell-off on Wall Street is likely to push gold down below $3900. I won’t turn bullish in the near term until gold gets above $4,500. That is likely the go signal for Leg 2, where we get new ATHs in gold and silver. I posted on X that I think this coming gold correction will be the last time to buy gold/silver/miners at cheap prices in our lifetime. Why? Because once Leg 2 begins, you can forget about buying Hecla at sub $25, or Newmont at sub $150. The cheap entry prices will be gone. Sometime in Leg 2, I will turn from being a buyer to waiting to sell to the top.
View original →Mid-Week Macro Last week we had 2026 cycle lows in both gold and silver. Consequently, the gold/silver miners have been getting battered. I expected this correction and said to expect $3750 to $3950 by the middle of November. Today, we had a strong rebound in gold (back above support levels) after the Democrats swept both the House and the Senate. However, I don’t think this correction is over. I want to be wrong, but I remain bearish the S&P 500, which I think will pull down gold. Today, the S&P was up 1.5% after oil dropped 10%. The S&P closed at 7688. At sub 7500, it gets interesting. I will remain bearish gold (silver will follow gold) in the near term until the S&P rolls over. It would be great if the bottom for gold were behind us, but I don’t think we will get that lucky. Expect to see $3800 or lower. Most likely in November, but perhaps December. Today was a dead-cat bounce for the S&P, implying that it wants to go higher. The opposite is going to occur. The S&P is going lower. Expect Wall Street to realize that the Democrats are not going to help Trump with the economy, and will actually thwart it. They are supposed to want to help their constituents, but that’s not how politics works in Washington. Politics is the game of power, and power is wielded from the White House, which they desire. They will be both Trump’s and the US economy’s nemesis until the 2028 election. Nothing is going to get done that helps the economy until the 2028 election, and many things coming out of Washington will likely hurt it. The Democrats know that Trump will get blamed for a weak economy. That is their ticket to carry the White House in 2028. If the country has to endure two years of economic hardship, they will consider that a winning strategy. This is the perfect storm for a recession: a Congress that doesn’t care about a weak economy. This is also a perfect storm for gold, which is waiting patiently to finally win its war with the S&P 500. Gold hasn’t outperformed the S&P 500 since 2011. That’s about to change sometime in Q4. Got Gold? 🤔
View original →From @FeneckConsult John Feneck discusses GDX holding support and select gold, silver and critical minerals stocks. https://t.co/NrSWsESSMA 3:06 Gold/silver action and support levels 3:56 what John has done in silver, and his background as a large silver investor for 26 years 4:28 silver's huge down day Jan 2026 - and how did no one get in trouble for that collusion/manipulation??? This is frustrating for investors 5:50 silver's $50/oz level....and why it is very important 6:42 GDX's move in Aug 2026 7:25 Fed & inflation (CPI) 8:42 tech selloff in "household names" ... INTC and GOOG 9:13 how algorithmic buying/selling has changed markets...and why you need to have a gameplan and pay for services from someone like John or Don Durrett in this sector 10:05 John states that the bulk of investor money is NOT in mining stocks...it is in the broad market. Also, John's warning about volatility 10:47 John points out AMZN's poor return YTD 11:58 John exposes that the SPY has extremely narrow leadership and heavy concentration in technology. "Count your blessings for your returns (in things like SPY) since March 2009" 14:44 John discusses support on gold/silver (medium term support) 15:10 GDX held 68.00-70.00 in July...and held the same level again this week, which is bullish 17:30 "don't chase price action" 17:51 John's 3 US mining conferences in 2027 ...May 30-June 1 is Wash DC, June 2-4 is Ft Lauderdale FL and Sep is Arizona. Email john.feneck@yahoo.com for more info 18:06 White Gold Corp (WHGOF, WGO) Over 3mil oz of gold and has a spinoff happening in the coming weeks, if you are shareholder now 19:13 Paramount Gold (PZG) could be a takeover candidate here at .8900 USD 20:30 Opaweka Explorations (OPWEF, OPW) Arrowhead property is directly next to AEM's La Ronde producing gold mine 21:41 Norsemont Mining (NRRSF, NOM) Permit in H1 of 2027 seems to be on track, which could be a large catalyst 23:06 Tungsten spot price went from 920/ton to 2700/ton YTD... "global supply just isnt strong currently" 24:23 Western Star (WSRIF, WSR) has 3 US tungsten projects and they are going for it: 27 drill holes planned next few weeks, results likely Jan 2027 25:42 Denarius Metals (DNRSF, DMET) John discusses late July volatility at .2900 USD. That is behind the company and Spain starts production in Q1 2027 27:31 Power Metallic (PNPNF, PNPN) CEO owns over 10% and PNPNF has 16 billionaires as shareholders. We estimate 70% of shares are in strong hands, which is a large # 29:31 Canadian Uranium (CANUF, CANU) 29:54 Green Canada (GCUC) 30:24 Blu Energies (BLUGF, BLU) at 1.50 bid, looks interesting as their projects have been surrounded by major oil co's (Exxon, Petrobras, Shell, etc) 32:10 Angkor Resources (ANKOF, ANK) has a 30 year oil lease and put out positive news this week. Has a chance to be in production in 2027 33:32 John's "real-time" email service starts at $225/month on https://t.co/oLht0PoEJP under the subscriptions tab 34:20 How Don Durrett and John talk about "buying low and selling higher"
View original →Friday Recap Current (Last Week) -- (% from ATH | ATH) AU: $3,874 ($3,991) -- 31% from ATH ($5,608) AG: $49 ($53) -- 59% from ATH ($121) HUI: 649 (674) -- 34% from ATH (986) DXY: 101 (101) S&P 500: 7,534 (7,623) -- 4% from ATH (7844) Today was the last trading day of October. I was hoping $4,000 gold and $50 silver would hold for month-end. It was not to be. Both gold and silver got smashed today. I have been telling you to expect $3,750 to $3,950, and here we are. I’ve also said that I don’t expect to see $3,500. But I’m guessing, like everyone else. We could go lower than I expect. I’ve also said the key for gold to reach my target of $7,000 to $8,000 (in 2 or 3 years) is for gold to outperform the stock market over an extended period. This outperformance will come from my expected fear trade. The fear trade will push investors out of the S&P 500 and into gold and silver. This happened from 2001 to 2011, and I expect history to rhyme. I would like gold to reach $5,000 sometime in January, thereby igniting Leg 2 of this gold/silver/miner bull market. Today’s close at $3,874 makes that more difficult, but not impossible. The good news is that the AI trade appears to be fading, with the NASDAQ down 3.7% today. The AI trade has become the stock market. If it can’t hold these levels, we will soon test the 200 DMA (around 7300). Midterm fallout could easily pull this market down below 7300. Stay tuned. All of the miners are on sale. That is very evident. If you are waiting to buy the dip, you can do it here or wait for $3,750. I think buying now, then at $3,750, and finally at $3,500 is the right bet. If we even reach $3,500 (not my expectation), the chance of going much below that level is very low. We are very close to the load-the-boat level. Some of you are probably wondering about the silver floor. I’m hoping that silver bounces back above $50 on Monday and stays there all week. If silver doesn’t rebound to $50 next week, then we could easily see $47 or $45. Ouch. Silver has strong support at $50. Gold has strong support at $3400 to $3500.
View original →Friday Recap Current (Last Week) -- (% from ATH | ATH) AU: $3,991 ($4,161) -- 29% from ATH ($5,608) AG: $53 ($56) -- 56% from ATH ($121) HUI: 675 (739) -- 31% from ATH (986) DXY: 101 (100) S&P 500: 7,623 (7,659) -- 2.8% from ATH (7844) The gold/silver bull bucked hard this week. Someone called it the Big Nasty. Silver reached a new cycle low at $53. Gold came within $30 of a cycle low at $3980 intraday. The HUI is down 31% from its ATH. The pain is being felt. I posted yesterday on X that it was a good time to buy the dip, and the trolls hammered me. No one wants to buy the dip. Everyone wants gold/silver prices to rise. Most people think the correct approach to investing is to try to always make money and that corrections are bad. I have learned that simply is not true for gold/silver investing. Corrections aren't bad. They are normal. Plus, with gold/silver mining stocks, you can never expect all of your picks to be winners. It's a lot like betting on race horses. You will be tearing up a lot of tickets. But when you win, you win big -- and get baggers. Most investors are new to the gold/silver miner trade and thus are down significantly. They thought they could handle the volatility, or that we wouldn't have any. As I have said repeatedly, this is not investing. This is speculating. We are chasing baggers, and you don't get baggers without taking risk. I've been doing this for 20 years and have experienced many deep corrections. My portfolio was down 70% in 2008. Then it fully recovered, and I was up around 100% in 2011. I have learned to endure deep corrections. Something many of you are learning at this time. What I have learned is that deep corrections are blessings. Why? Because you get to add shares at good entry levels (if you have capital). The key to finding baggers is getting good entry prices. I call this buying smart. The best entry is to find a stock near its bottom (Lahontan at 2 cents, Avino at 43 cents, Newmont at $29, etc). You usually only find these bottoms during deep dips like this one. Today, I can easily find stocks near their bottom. In 6 months (or so), you won't find the juicy 10+ baggers anywhere near these levels. I've been saying my near-term targets are $3750 to $3950 for gold and $52 to $54 for silver. We have reached my silver target, and I hope we don't go below $52. The S&P has remained strong, but the AI trade has cracked a bit (from high interest rates). I keep waiting for the S&P 500 200 DMA to be tested. It's now up to 7300. It will get tested soon is my guess. I think that is when gold and silver find their cycle lows. I still expect it before mid-November. I also expect gold to be back above $4200 before the end of November. Then $4500 in December, and $5000 in January, and $6000 in June (Leg 2). Stay tuned.
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