David feels the term "quiet optimism" does, indeed, sum up the current gold market. He points out that capital markets have yet to open up to most micro-cap gold companies. He feels that the mining sector may well be the last deep value play in the market today.
He thinks that gold will eventually rise above $2000 an ounce, but it will take longer than most analysts expect. Indications that we are reaching a market top may again come in the form of large companies acquiring overpriced low-grade projects.
Time Stamp References:0:40 - Where are we in the precious metal cycle.1:50 - Sell your house and invest in juniors?4:19 - Why the HUI to Gold ratio is important.7:00 - When will the juniors move?8:20 - Signs for a market top.10:00 - Favorite authors and their books.11:50 - Potential contrarian play in base metals.