Jordan Roy-Byrne
Author, CMT, and Editor @ The Daily Gold
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
Jordan Roy-Byrne Articles
Gold’s breakout failed and fell back into the previous consolidation zone at $2300 to $2400/oz. Silver reversed hard and is threatening support at $29.
GDX is battling monthly and quarterly resistance around $37.50. A clean, strong break above triggers a potential measured upside target of $55, the 2010-2012 resistance highs. A steepening in the yield curve and the start of Fed easing...
Gold falls back into the $2300-$2400 consolidation range as Silver drops 6% on the week, threatening support at $29. The miners took a hit but weakness bought to close the week.
Gold stocks are entering a sweet spot. In recent months, we have written about how gold stocks outperform Gold after breakouts in the Gold price. This has transpired since March.
Gold breaks out from its bullish flag pattern but there is another signal that is approaching code red.
The gold stocks and larger juniors had a very strong week. It appears we are seeing the start of the next move in the sector and the miners are leading it.
The gold stocks are leading Gold and signaling the next leg higher. The GDX to Gold and GDXJ to Gold ratios are breaking out and approaching new 52-week highs. GDXJ to GDX ratio is in bull mode.
Vince Lanci discusses most recent technical action in Gold & Silver, the return of big money macro buyers in recent days, and his buying more GDX on the back of the breakout in the advance/decline line.
If Gold and Silver continue to hold $2290 and $29, then there is a good chance of fireworks in the second half of 2024.
History will reflect on Gold’s breakout in March from a 13-year cup and handle pattern as extremely significant and the major turning point for a new secular bull market in precious metals.
