Don Durrett: Gold Miners Are Still Extremely Cheap and We're Early #Gold #Mining

Wealthion
WealthionMar 23, 2026

Why It Matters

The analysis signals a potentially high‑return entry point for investors, as institutional participation could lift gold‑miner valuations sharply.

Key Takeaways

  • Gold prices likely to rise as Wall Street enters
  • Elite gold miners currently trade at 2.5‑3x multiples
  • Silver miners offer five‑bagger potential at current valuations
  • GDX and GDXJ ETFs remain undervalued, promising upside
  • Bull market will progress through three phases, starting now

Summary

In a recent interview, market strategist Don Durrett argues that gold‑mining equities remain dramatically undervalued and that the sector is still in the early stage of a new bull cycle.

Durrett points out that Wall Street has not yet entered the market, keeping prices low. At a gold price of $6,000‑$7,000 per ounce, elite miners trade at 2.5‑3 times earnings, while silver miners are positioned for five‑bagger returns. He highlights the two primary gold‑miner ETFs, GDX and GDXJ, as similarly cheap.

He emphasizes, “Who wouldn’t want a 300 % return?” and notes that the rally will unfold in three distinct phases, with the first already underway. The lack of “pricey” stocks, according to Durrett, creates a rare buying opportunity.

If institutional capital flows in as anticipated, earnings multiples could expand, delivering substantial upside for investors who load up now. The commentary suggests a strategic tilt toward gold‑mining exposure before the market re‑prices the sector.

Original Description

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