To The Moon

GoldStockData.com's Don Durrett told Investing News Network that the gold $Gold - main 2306(GCmain)$ and silver $Silver - main 2307(SImain)$ rally is now running into resistance, but he thinks the last sell-off on Wall Street will clear the way for precious metals prices.

He explained, "What we are waiting for is that the headwinds in the market are basically cleared. I mean, we need to see a sell-off in the stock market, and then gold prices can finally go higher."

In his view, when the stock market capitulates At that time, basically investors would no longer put money into stocks, and would stay away from the bond market.

Durrett sees $2,080 an ounce as the first target for an upward breakout in $Gold - main 2306(GCmain)$ and $30 an ounce for $Silver - main 2307(SImain)$ , but doesn't rule out the possibility that both gold and silver could be lower in the short term, during what he calls a capitulation period. , Gold may even fall to the level of $1800 to $1850. However, if the gold can hold above $1800, it should be able to rise all the way to $2300 this year.

When being asked how investors to prepare for rising gold and silver prices, Durrett referred to a "pyramid" approach to investing. In other words, he thinks it's important to build a strong foundation before extending your reach. He recommends putting physical gold, ETFs, and mutual funds at the bottom of the pyramid, and some risky explorer stocks at the top.

7 Largest or Cheapest Gold ETFs Under "Risk-off" Environment

He himself owns about 150 gold and silver stocks, noting that he will not be looking to sell until the price of gold and silver moves to the level he expects, because gold and silver have not seen such large-scale movements many times.

Durrett added, "For me, it was worth the wait. I even thought it would be a once in a lifetime deal."

If you are interested in investing in gold and silver, you may wish to pay attention to this company: $Golden Tag Resources Ltd.(GTAGF)$ .

The company's San Diego project area in the Mexican state of Durango is located within the prolific Velardeña mining region, which has produced silver, zinc, lead and gold mines over the past century.

The project currently has indicated and inferred resources in compliance with NI 43-101 specifications of at least 230 million ounces of silver equivalent.

Moreover, the company firmly believes that there are 20-50 million tons of silver-equivalent high-quality resources (65 million ounces to 240 million ounces) with a grade of 100-150 g/t waiting to be discovered.

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