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
There is a history of precious metals diverging from the stock market (cyclically) and it has occurred during stagflation and around the start of secular bear markets in stocks.
Gold reversed lower after a false new high, losing 3% on the week. Silver and the miners held up better, losing 2.5% and 3%-4% respectively.
Silver cleared $29 resistance and is in breakout mode as Gold has rebounded to near its previous high at $2417. Silver could retest the breakout at $29 but retest or not, it appears headed to that strong target at $34-$35.
Gold and Silver especially closed the week higher, with Silver surging to above $31/oz while Gold closed at a weekly higher high, above $2400/oz. Gold is building on its cup and handle breakout, which has a measured upside target of $2900...
The miners continue to lead the metals as they start to break above their April highs while Gold & Silver remain below those highs. Silver is getting ready to outperform Gold.
Gold is only two months into a 13-year breakout while the inflation-adjusted Gold price, an indicator for gold stocks, is approaching a breakout from a 45-year base.
After the introduction of Gold and Silver ETFs and a 13-year secular bear market, everyone knows gold miners suck. Just ask Hugh Hendry. But the truth is far more nuanced. Here is almost everything you need to know, divided into a list.
Vince Lanci of Echo Bay Futures & GoldFix on Substack joins us to wrap up market action in April and discuss Gold’s outlook in May. Vince believes Gold has more downside and will be watching the action after the CPI on May 15.
Gold, Silver and the miners declined this week but all remained above key support levels. Silver retested support at $26.30 and formed a bullish hammer today. Gold & gold stocks could decline more and test their support levels.
Gold against the 60/40 portfolio is the most important Gold chart for 2024. I expect this chart to give a secular bull confirmation signal over the coming months. It’s end of April reversal prevented the signal at the close of the month.
