David Hunter

David Hunter is Chief Macro Strateg at Contrarian Macro Advisors, where he publishes forecasts on equities, precious metals, and broad market cycles. He has become a recognizable voice in the resource investing community through his detailed price targets for gold, silver, and broader indexes — targets that are notably more aggressive than mainstream analyst consensus and that draw attention from precious metals investors seeking contrarian macro perspectives.

Hunter's work focuses on identifying what he describes as long secular market cycles. He has publicly called for a parabolic melt-up phase driven by inflation rolling over and Federal Reserve rate cuts, followed by what he terms a global bust. His specific published targets have evolved over time: in earlier appearances he forecast gold at $1,550 and silver at $26; more recently he has raised those to gold at $7,000–$10,000 per ounce and silver at $200–$300 per ounce in the near term, with even higher long-term projections of $20,000 gold and $500 silver following a market crash. These figures come from interviews on Palisades Gold Radio, Investing News Network, and his Substack newsletter.

His approach is fundamentally macro-driven rather than company-specific. Hunter analyzes monetary policy, currency movements (particularly the US dollar index), and what he sees as the terminal phase of a multi-decade secular bull market that began in the early 1980s. He does not typically evaluate individual mining companies, drill results, or project economics. Instead, he frames precious metals as a beneficiary of systemic financial stress and expects mining equities to participate dramatically in a speculative blow-off — comparing the potential upside in gold and silver miners to the late-1990s dot-com bubble.

Resource investors should understand that Hunter's analysis comes from a top-down, cycle-timing perspective rather than bottom-up fundamental research. His targets are directional calls tied to his macro thesis, not valuations grounded in mine-level cash flow models or NI 43-101 resource estimates (the industry-standard technical report for mineral project disclosure). Investors who follow him gain exposure to a specific school of thought about secular market cycles and where precious metals fit within them — but should treat his numbers as the output of one forecaster's framework, subject to significant revision as conditions change.