Stealth Bottom in Gold & Gold Stocks? - Video

Jordan Roy-Byrne
Author, CMT, and Editor @ The Daily Gold
October 19, 2023

Gold put in a low less than two weeks ago, which was followed by a gap up and a stealth rally. Then it exploded last Friday past $1940/oz. When considering technicals and the Gold CoT, a sentiment indicator, there is some reason to believe in an important bottom.

The gold stocks were nearly extremely oversold levels at the recent bottom. It’s the kind of oversold condition that could lead to a multi-month rebound.

As always Gold’s performance against the stock market is needed to cement a low and help Gold rally to and past $2000/oz.

The Daily Gold

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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.

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