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 endured a 20% correction over eight months. A 15% rebound followed that in two months. It has retraced some, but not a majority of the losses. This action is all part of the handle of a super bullish cup and handle pattern.
The rebounds in Gold and Silver exceeded my expectations and closed May in a strong fashion, near the highs of the month. Gold's monthly close was the third-highest ever. Silver failed to break resistance at $28.50, but its monthly close...
After updating my macro-market outlook report for subscribers, I realized something about Gold. On a historical basis, it remains incredibly cheap. It may seem expensive on the surface, trading near $2,000/oz, but the reality is contrary...
As I pen this article, gold and gold stocks may be starting to form a low. Over the past four trading days, GDX and GDXJ have dug in and formed bullish reversal candles, while gold has traded lower and tested its 38% retracement at $1690.
I’ve been in this sector long enough to know this fear isn’t anything new. Various and different characters, most of whom have a dubious track record, have been pushing this narrative as far back as the early 2000s.
In recent weeks we wrote first that the gold mining stocks were approaching a bottom and later that they had hit bottom. Bottoms typically occur in an instant. They are rarely a process like tops.
Gold Stocks remain in a correction, even if the October 29 lows continue to hold into December. Corrections are a function of price and time, and often in this sector, a correction can continue in terms of time, well after a low in price...
We last wrote to you roughly ten days ago. We concluded, "It appears GDX and GDXJ will test their September lows at $37 and $52 reasonably soon. Should GDX & GDXJ break those lows to the downside, then we should get ready to buy."
Tom Petty said it well. The Waiting is the Hardest Part. Precious metals remain in a correction, and we’ve been waiting and waiting for a better entry point.
Precious Metals began a long anticipated correction a few weeks ago but it was somewhat interrupted by news of Warren Buffett buying a stake in Barrick Gold (NYSE: GOLD). The Buffett bounce has passed and the correction could reassert...
