Jordan Roy-Byrne | TalkMarkets | Page 18
Owner, 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 ...more

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Gold Somewhat Ignores Dollar Weakness
The precious metals complex rebounded as expected after becoming very oversold just a few weeks ago. The rebound has been aided by weakness in the US Dollar, which plunged roughly 2% over several days.
The Bearish Gold Bull
Gold stocks relative to the S&P 500 hit an all-time low and Gold stocks relative to Gold hit a 90 year low. Gold stocks price to book and price to cash flow valuations were the lowest in 40 years.
Gold Stocks & Silver Nearing Relief Rally
The past few weeks have been rough for precious metals. Gold had climbed all the way to $1297/oz but the other parts of the sector (Silver and the gold stocks) failed to confirm the move.
The Looming, Big Catalyst For Gold
Gold bulls were hopeful that Gold could break its 6-year downtrend but recent underperformance in the gold stocks and Silver argued otherwise. Those markets have been crushed in the past two weeks as US and global equities pushed higher.
5 Reasons I Favor Junior Exploration Companies
Investing in junior exploration companies is very risky but I have shifted my focus to this group because of the backdrop of a bull market, strong industry fundamentals and the best risk versus reward potential.
Bearish Reversal In Gold And Silver
Precious metals ended a quiet week with quite a reversal. Gold surged above its 200-day moving average for the first time since November, only to lose the gains and then close below the 200-day moving average.
Warning Signs In Precious Metals
Precious metals closed the first quarter with solid gains. Gold gained almost 9% while Silver gained 14%. The miners (GDX and GDXJ) gained the same amounts (9% and 14%).
Technicals For Gold Miners Remain Weak
The current weak technical action in the gold stocks is further evidence that precious metals are unlikely to see a blast off soon. Gold could continue to rally on the back of stock market weakness but don’t expect that to pull miners much higher.
Precious Metals And 200-Day Moving Averages
The precious metals complex enjoyed a strong week mostly due to a post-Fed explosion on Wednesday. Although gold stocks sold off to end the week, they finished up almost 5% for the week.
An Analog For The Gold Stocks Correction
The gold stocks bounced strongly on Friday after the February jobs report confirmed the Federal Reserve will hike interest rates next week.
More Downside Potential In The Gold Stocks
While we expected the gold stocks to correct and test GDX $22 and GDXJ​ $35, we did not expect it to happen so quickly. It literally took only three days! Gold stocks rebounded on Friday and managed to close the week above those key levels.
Underperformance In Gold Stocks Argues For Interim Peak
The early stages of gold bull markets (this one included) are characterized by strong outperformance from the miners. They will lead the metals and turning points and register strong outperformance.
Gold’s Fundamentals Strengthen
The January headline consumer price index came in at 2.5%, which is near a 5-year high. What happened to deflation? Inflation is perking up & couple that with a Fed that pursues rate hikes at a glacial speed & that is very bullish for precious metals
Gold & Gold Stocks Hit Upside Targets. Now What?
The precious metals sector has reached the upside targets we’ve written about since the start of 2017. Gold has touched almost $1250/oz ($1246/oz high) while GDXJ exceeded our $41 target and GDX nearly reached $26.
Weaker US Dollar Could Send Gold & Gold Stocks To Higher Targets
The miners continue to lead as they are on the cusp of higher highs in this recovery while Gold is further away from breaking its resistance at $1220. A pullback from resistance (the upside targets) is likely
Two Gold Ratios You Should Watch
As Gold and gold mining stocks approach strong resistance, we wonder if the outcome will be a sharp selloff or a period of bullish consolidation.
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