Don Durrett bought gold and silver miners the whole way down, and he says the last six months were the opportunity, not the problem. But he thinks one more dip is coming before the real move begins.
Speaking with Kitco News, the GoldStockData.com founder, who tracks roughly 870 companies and owns 168 of them, said the first leg of this bull market ran from August 2024 to January's peak of $5,600 gold and $120 silver. He believes "leg two" hasn't started yet, puts the odds of one more correction at "about 50/50," and targets a dip near $3,750 before November, meaning buyers at today's levels "could be catching a falling knife." He calls this "the trade of a lifetime," comparing his conviction to Michael Burry's Big Short bet: a near certainty, in his view, where the only real question is timing.
Then comes the upside that keeps him buying. At his conservative targets of $7,000 gold and $200 silver, Durrett says the major gold miners print roughly five times their money and the top silver names six to eight times, with the best developers offering far more. For most people, though, he argues an ETF is the smarter play, potentially a four or five-bagger without the stock-picking, because the miners' volatility, gold fell 29% and silver 55% from the January highs, is more than most investors can stomach. He also breaks down his allocation framework, why he owns no copper, and why "not a single silver developer has been acquired" even with silver above $50.
Recorded August 6, 2026.
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Don Durrett's research: GoldStockData.com (https://www.goldstockdata.com/)
00:00 Gold Miners Rebound: Is the Bottom In?
00:57 Why the Bond Market Drives Gold
04:31 ETFs vs. Picking Your Own Miners
08:05 Gold's Bull Market: The Leg-Two Outlook
11:02 The Buy-the-Dip Strategy
13:12 Coeur and the Case for "Baggers"
15:38 Why Mining Is a Strange Business
18:38 Junior Leverage and the "Mormons" List
20:50 His Portfolio Allocation Framework
23:49 Timing Leg Two: Don't Be Late
27:07 Insider Ownership and Takeouts
29:26 Who's Buying Who in Gold M&A
31:47 Australia and Canada Takeover Targets
40:53 Why He Owns No Copper
#Gold #Silver #GoldStocks #DonDurrett #KitcoNews
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
