He tore up his old exit plan.
The GoldStockData founder used to talk about selling into seven or eight thousand dollar gold and wrapping the bull market by 2028.
Not anymore.
“I used to be somewhat bearish. I always tell people I’m going to sell early because I don’t know how long this bull market in the miners and gold can go. But I’m changing my tune.”He now sees the cycle stretching to 2030 or 2032.
“I think this bull market’s going to have legs. I think gold is going to go north of $15,000. I’ve always said seven or eight, but I’m changing my tune. I think gold’s going to 15 or higher.”
That is the headline.For SilverTrade readers the next sentence matters even more. Don is lifting silver with it.
He is working with 7,000 gold and 200 silver as a working pair.
One percent of 7,000 is 70.
Two percent is 140.
Three percent is 210.
“I think we’re going to go somewhere between those two numbers. Between 140 and 210. So 200 is a little on the aggressive side, but if you go to $8,000, suddenly 200 isn’t so aggressive anymore.”
Push gold toward $8,000 and two percent is 160 and three percent is 240:
“I think 200 absolutely makes sense.”
Michael Oliver’s 300 to 500 range, he said, is not crazy talk if shortages bite.
Leg one already proved silver can catch fire. Gold broke out first. Silver sat still for 18 months, then exploded from 35 to 120 in the August 2025 catchup.Miners did not outperform that first rip because the metal itself was “absolutely going on fire.”
That changed in July. Miners started beating the metal. Durrett has said for years that leg two is the best leg. That is the one he now sees lining up after November.
He is not pounding the table for this week. Seasonality and a tired stock market make him cautious into late October.He would not be shocked to see gold back under 4,200 before the next blast:
“Between now and November, I think you need to be very cautious.”
Then the tape flips. “Once you get to middle of November forward, I think gold is going to absolutely rip to year end.”
That second leg, in his map, runs from about 4,000 toward 6,500 and possibly higher next year.
Free cash flow multiples stayed crushed in leg one. Leg two is when they expand. Leg three is the mania, later in the decade.
The reason he doubled the gold number is the bond market. Forty trillion in debt. Two trillion printed a year. Eight trillion rolled a year. Fiscal dominance is not a theory to him. It is a trap.Cut 500 billion and you still have a 1.5 trillion hole and a weaker economy. So they print. Printing inflates. Hiking into a 20,000 a month job machine risks recession:
“We’re in a catch 22. There’s nothing Warsh can do to create this 5 percent growth.”
He calls it the endgame of a debt bubble that has been inflating since the 1980s.
“People think that the Fed can kick the can down the road. I think WE’RE IN THE ENDGAME!”
Gold fills the void because nothing else can. The yuan is not freely convertible. The euro is drowning in its own debt.“There isn’t any other currency out there to fill the void. Gold is the only thing that can fill the void. And so it’s going to keep going up in my opinion.”
He has been collecting junior miners since 2004 on that thesis. He did not sell in 2011 because that was not the burst. Twenty years of discipline bought him cheap paper. Now the development names he owns Newfound Gold, Thesis, White Gold and the rest look different if gold trends for years instead of topping in 2028.“If gold just keeps trending, these stocks are going to go to the moon.”
He was thinking of selling GoldStockData in 2027: “Now I’m like, nope, it’s not for sale, guys.”
Silver remains the volatile twin. Most of it is industrial. Central banks buy gold, not silver. That is why he will not plant a flag at four percent of the gold price and leave it there. Spikes happen. Staying there is harder. The other side of that coin is the squeeze.Mine supply is still roughly seven or eight to one versus gold coming out of the ground, and most silver gets consumed. A shortage can still shove the ratio toward 15 to 1 or even 10 to 1.
SilverTrade ran a six standard deviation thought experiment the other way from the 120 to 1 COVID panic print. The math can get violent.
Don stays fully invested. He buys dips. He is not chasing this first week of September. He has a list ready for the next washout. Then Q4. Then miners leading. Then multiples rising.Then a bull market that no longer ends on his old 2028 calendar. For SilverTrade that is the whole interview in one charge.
Don Durrett just told the room he was early on the sell button.
Gold $15,000. Silver $200 as a BASE case that gets easier if gold keeps climbing.
Miners finally doing what they are supposed to do in leg two.
The debt machine cannot stop printing.
He is not selling the website and he is not selling the thesis.
Don Durrett is extending both.
FULL INTERVIEW With GoldStockData’s Don Durrett is below:
Market Forecasts & Price Targets
- Short-Term Outlook: Expects a correction with gold potentially dropping sub-$4,200 before November due to seasonality and lack of leadership in the “MAG 7” stocks.
- Gold Targets: Forecasts a second leg up to $6,500 in Q4, with long-term targets shifting from $8,000 to potentially $15,000+.
- Silver Targets: Targets $200 silver, noting that while silver is primarily a commodity and more volatile than gold, it could spike higher if shortages occur.
- Mining Stocks: Predicts miners will outperform metals in “Leg 2” and “Leg 3” of the bull market, with some quality stocks potentially becoming 15-baggers by 2028.
The “Doom Loop” and Financial Reset
- Seven Stages of Doom: Durrett posits the US is currently in stages 5 and 6 (interventions to protect the bond market and waning confidence).
- The Reset Scenario: Predicts a “sledgehammer” reset by 2028 involving the introduction of a digital currency and the devaluation of paper dollars and existing debt.
- Systemic Drivers: The “doom loop” is fueled by fiscal dominance, where the US must print money to fund a $40 trillion debt, creating a catch-22 between fighting inflation and stimulating growth.
Investment Strategy
- Quality Over Speculation: Recommends focusing on high-quality producers and developers with clear paths to production rather than early-stage exploration “lottery picks”.
- Portfolio Construction: Suggests a diversified basket of 40 to 80 quality stocks to manage the risk that roughly 30% of picks may disappoint.
- Entry Tactics: Advises “buying to the bottom” during corrections, specifically targeting the $4,100 - $4,200 range for gold.
- Exit Strategy: Plans to take profits only when the “Elite 8” gold miners reach “frothy” free cash flow multiples in the 20s.
Risks & Blockers
- Seasonality: September through November is historically the worst period for the stock market 6.
- Economic Headwinds: High interest rates, high diesel prices, and AI-driven job losses are viewed as net negatives for the current economy.
- Bond Market Fragility: The inability of the US to allow allies (like Japan) to sell bonds without intervention signals extreme fragility
Don’s Website: https://www.
goldstockdata.com/ Follow Don on X: https://x.com/DonDurrett Don’s Substack: https://dondurrett.substack.com YouTube: https://www.youtube.com/@DonDurrett SeekingAlpha: https://seekingalpha.com/author/don- durrett
