Dollar Strength Can Be Good For Gold

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Collin welcomes Jordan Roy-Byrne back to the program. Jordan is a regular contributor to Palisade Radio.

Jordan feels that the correction in GDX is close to being over. Top to bottom GDX has corrected by 17% over the past month, which is typical and healthy.

Gold is gaining relative strength compared to the S&P and silver and will likely hold up at these levels. It’s building a tight consolidation that will eventually give way to a much higher move.

Jordan can’t see anything in the markets currently that would be negative for gold. Silver is still setting up for a move to $21. Once that target is reached, there is little in the way of resistance until $27.

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