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

Cory
April 19, 2017

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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Discussion
27 Comments
    Apr 19, 2017 19:50 AM

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

      Apr 20, 2017 20:39 AM

      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.

    Apr 19, 2017 19:29 PM
    Apr 19, 2017 19:41 PM

    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.

    http://www.zerohedge.com/news/2017-04-19/real-message-gdxj-mess

    b
    Apr 19, 2017 19:44 PM

    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.

      Apr 19, 2017 19:51 PM

      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.

      https://www.jsmineset.com/2017/04/19/in-the-news-today-2642/

      Apr 20, 2017 20:51 AM

      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.

    Apr 19, 2017 19:53 PM

    Here’s an article that may help some with understanding the Syria situation: It helped me………..
    http://news.goldseek.com/GoldSeek/1492629239.php

      GH
      Apr 19, 2017 19:44 PM

      good one

    Apr 19, 2017 19:17 PM

    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.

    Apr 19, 2017 19:11 PM

    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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