Exclusive Insights on the Gold Market – Wed 19 Apr, 2017

Should we be worried about the sell-off in metals stocks today?

With GDX and GDXJ down over 3% and 4% currently I chat with Jordan Roy-Byrne, Editor of TheDailyGold.com shares his outlook. We also discuss the relationship between gold and the US markets, which have held a strong inverse correlation.

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Jordan Roy-ByrneCory Fleck
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  1. On April 19, 2017 at 11:50 am,
    Silverdollar says:

    “bearish omens that we’ve seen in recent weeks.” Fair enough.

    • On April 20, 2017 at 4:39 am,
      Excelsior says:

      Jordan had put out a few pieces recently where he highlighted the weakness on GDX & GDXJ relative to Gold, and Silver relative to Gold, and noted that this raised some concerns on if this may beget a corrective pullback. That’s likely what he means by bearish omens. Longer term, Jordan is looking for weakness in the general equities to really get the PM bull underway.

  2. On April 19, 2017 at 12:29 pm,
    Matthew says:
    • On April 19, 2017 at 1:14 pm,
      GH says:

      purely comic relief, no political statement intended

      • On April 19, 2017 at 1:51 pm,
        Silverdollar says:

        +1. Getting old……….that took several seconds!

      • On April 20, 2017 at 4:40 am,
        Excelsior says:

        GH – That really gave me a laugh. Thanks! 🙂

      • On April 19, 2017 at 9:33 pm,
        GH says:

        My favorite.

      • On April 20, 2017 at 4:41 am,
        Excelsior says:

        That’s a good one.

        • On April 20, 2017 at 5:04 am,
          Excelsior says:

          Do All U.S. Presidents Look the Same? What About Japan’s Prime Ministers?

          By Jordan G. Teicher

          > Composite: All the presidents of the United States from 1789 to 1889.

          > Composite: All the British prime ministers elected under Queen Elizabeth II (1952–2008).

          > Composite: All the prime ministers of Japan during the Showa period (1926–1947).

          > Composite: All the presidents of South Africa post-apartheid (1994–2008).

          > Composite: All the presidents of the United States from 1960 to 2008.



          • On April 20, 2017 at 7:04 am,
            GH says:

            I’d vote for him!

            Fascinating. Compare the portraits of US presidents 1789-1889 with the photos of prezs 1960-2008. I know, the difference between a painted portrait and a photo…still, the stern demeanor versus the fake schmoozy grin is striking.

          • On April 20, 2017 at 7:05 am,
            GH says:

            When artificial intelligence wins the presidency in the US, I guess that will be our new Maximum (Headroom) Leader.

          • On April 20, 2017 at 11:12 am,
            Excelsior says:

            Max Headroom – I love it and had forgotten all about him.

      • On April 20, 2017 at 6:56 am,
        GH says:
        • On April 20, 2017 at 11:13 am,
          Excelsior says:


  3. On April 19, 2017 at 1:41 pm,
    Paul W says:

    It is fundamentals this time. The size of the etfs are a big problem and only giving an illusion of liquidity. Maybe I am old school but I wish they didn’t exist.


  4. On April 19, 2017 at 1:44 pm,
    b says:

    I sure like Jordon, Rick, Chris and Doc too.
    Doldrums should be coming, sell in may might happen sooner this year as people are a tad nervous about PMs.

    • On April 19, 2017 at 1:51 pm,
      Paul W says:

      I am going to ride it out. There were two big gold dumps that last two days. I think there is going to be a big effort to shake people out of their positions. I am not going to fall for it and play their game. The gold markets move too fast to get in and out so I will play the long game.


    • On April 20, 2017 at 7:51 am,
      Matthew says:

      You have it backwards, little b. It is bullish confidence, not bearish nervousness, that would help the doldrums arrive early. If the current action continues into May, there will be a good chance that those who sell in May will be sorry.

  5. On April 19, 2017 at 1:53 pm,
    Silverdollar says:

    Here’s an article that may help some with understanding the Syria situation: It helped me………..

    • On April 19, 2017 at 2:44 pm,
      GH says:

      good one

  6. On April 19, 2017 at 5:17 pm,
    Arne Ed says:

    Both SPX and INDU have broken down and failed retest of 50DMA, while GDX and HUI have broken downtrend and retestet the breakout trendline. Dollar broke down as well. GDXJ did hammer on the daily on the upwards trendline from jan->dec lows.

    Ofc I’m worried, but technically it doesn’t look too bad. As I’m writing this, gold still holds on to 1278.

    Fundementally there should be support for gold as well with election on this sunday with both Mchlenon (sp?) and le pen victory being very bullish for gold. Debt ceiling on the 28th of april as well as carriers arriving next week in North Korea.

  7. On April 19, 2017 at 6:11 pm,
    Ozibatla says:

    With the pm miners continuing to lag in comparison to metal prices, the question is, are metal prices going to correct closer to what the miners are indicating or do the miners play catch up? In light of what has happened in the last 3 days with gold and silver, I think the former is more likely.

    Also havnt checked the COT in the last few days, but they wernt looking good last week, particularly for silver.

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