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Is This Bounce In the Precious Metals For Real?

Cory
July 12, 2017

With gold down 5 weeks in a row we are seeing a turn around that started yesterday. Editor of The Daily Gold, Jordan Roy-Byrne, shares his technical outlook for the precious metals and comments on the bearish sentiment that continues in the sector.

Click here to visit Jordan’s website for more precious metal commentary.

Click download link to listen on this device: Download Show

Discussion
47 Comments
    b
    Jul 12, 2017 12:32 AM

    I like Jordan, maybe just because he sees things like I do. lol
    Pot shares are bouncing too, funny how they very often move with gold shares.
    I dont follow anything else for shares so I dont know just how many resources move together.
    Makes ya wonder tho.

    Jul 12, 2017 12:17 PM

    Democrats dimwits ,just filed articles of impeachment…zh

      Jul 12, 2017 12:25 PM

      Papers should be filed against maxine waters for impersonating a human being……..

        Jul 12, 2017 12:28 PM

        Ha ha…good one….she is such an idiot

      b
      Jul 12, 2017 12:28 PM

      Some people think a civil war will happen if Trump gets impeached. Hard to see people care enough about anything really, but if it did happen, maybe the U.S. would have to recall their military.
      You would think some of those military people would be interested enough to want to see whats happening at home.

        Jul 12, 2017 12:33 PM

        If, you listened to Fitts ,we already know who the problem is…..

          b
          Jul 12, 2017 12:03 PM

          We do, and we have known for years.
          Nobody with any influence does anything tho.

          I dont think anything gets done as long as Israel is supported.

            Jul 12, 2017 12:17 PM

            MIC..still in control.,deep state with a black budget

            Jul 12, 2017 12:20 PM

            Maybe Macy Waters knows about the black budget….

    Jul 12, 2017 12:31 PM

    The Gold Direction Indicator Just Turned Green!

    Peter Degraaf – July 12, 2017

    http://www.gold-eagle.com/article/gold-direction-indicator-just-turned-green

    Jul 12, 2017 12:39 PM

    Green light ..$22 silver,,$1307 gold. Game on

    Jul 12, 2017 12:45 PM

    Must See Video

    A few moments ago on Fox Business Channel we heard someone proclaim that “given all that’s going on the world, gold should probably be $5,000 to $6,000 per ounce”. Who actually had the gall to say this on live television? You won’t believe it unless you see it for yourself.

    So, here you go. This is Neil Cavuto discussing the “markets” with Terry Duffy, the one and only CEO of the CME Group. The first five minutes are the standard boilerplate of Fed policy, etc and blahblahblah. However, at the 4:55 mark, Cavuto asks:

    “But we haven’t seen money move into the metals….what is going on there?”
    To which Duffy answers:…….

    Well, you’re going to have to hear it for yourself to believe it. Again, fast forward to the 4:55 mark and have a listen.

    https://www.tfmetalsreport.com/blog/8441/must-see-video

      Jul 12, 2017 12:03 PM

      Mostly Hype…..wash and rinse for awhile ,until the CFTC….puts some fat fingers in jail, just More of the same .

        Jul 12, 2017 12:06 PM

        Fox is as bad as the rest…Fox has turned into a comedy club..

    Jul 12, 2017 12:53 PM

    20,000 Chinese spy s in U.S……zh

    Jul 12, 2017 12:37 PM

    Canada is in serious problems with real estate……..zh
    too much credit cards and real estate debt is going to be a killer.

    Jul 12, 2017 12:40 PM

    “Buy All The Things” – Yellen’s Dovish Flip Sparks Bid In Stocks, Bonds, Bullion, & Bitcoin

    Did The Fed just step in to replace the Trump premium as Junior’s email dashes hopes of tax breaks further? Timing is certainly interesting…

    http://www.zerohedge.com/news/2017-07-12/buy-all-things-yellens-dovish-flip-sparks-bid-stocks-bonds-bullion-bitcoin

    Jul 12, 2017 12:16 PM

    Extremely bearish candles put in in AXU and EXK today. A plunge is right around the corner.

    Jul 12, 2017 12:30 PM

    Textbook bear flags on the $silver and $gold daily charts. Both are about to plunge and potentially dramatically based on the monthly charts. Sure $gold may get some support at $1175ish, but every hack knows how to draw a rudimentary trendline from the 2015 lows. Odds are they crash $gold right through that level to maximize the waterfall effect from all the stop losses.

      Jul 12, 2017 12:45 PM

      Dang,you are a bundle of joy…I was feeling kinda good…this bear is growing old….

        Jul 12, 2017 12:16 PM

        What? You’re not long AMZN and GOOG? AMZN headed to $2000 and then infinity. They will literally take over more or less all retail in the US, and eventually, globally. Alibaba can’t win this war since they are not backstopped by the reserve currency and US army.

        US stock market is the greatest moral hazard ever concocted. There is no reason for it to go down, ever. I don’t care if PEs get to 10,000. The Fed will print up whatever it takes and everyone knows it now. They have created a positive feedback loop that will not end.

        The kicker is that we are seeing a commensurate drop in commodities

          Jul 12, 2017 12:20 PM

          No stock splits..Amazon could be like Berkshire Hathaway..$130,000 per share.

            Jul 12, 2017 12:21 PM

            Anything under infinity is undervalued.

            Jul 12, 2017 12:23 PM

            Ok Buzz.. 🙂

            Jul 12, 2017 12:40 PM

            You think I am joking? In nominal US dollar terms, AMZN is worth infinity.

            Jul 12, 2017 12:52 PM

            Spanky – AMZN is a good company but you have it valued at infinity and beyond…?

            Why wouldn’t you just put 100% of all your wealth in it then (unless you are joking)?

            Jul 13, 2017 13:54 AM

            spanky….might be on to something……concerning Amazon, there is no competition in their space, …the traditional way of looking at value seems to be different than the old thinking. Today, zh, put out a thought concerning an October stock shock , which may not happen, because everyone is expecting a drop. The Fed and other central banks can just keep pumping in the buy orders as long as they want……Trump has nothing to say about the FED., except there is mention of Cohen , Goldman shoe shine boy , coming in place of Yellen…..so, do we get same old same ole’………just a thought and a rant….. 🙂

            Jul 13, 2017 13:57 AM

            Greece ready to issue 4.5% bond……..everyone on board……even thought they owe 240billion, who gets paid first……….

            Jul 13, 2017 13:58 AM

            thought to though ……

    Jul 12, 2017 12:35 PM

    Larry McDonald Talks Gold & Macro, Short & Long-Term
    JULY 12, 2017 JORDAN ROY-BYRNE CMT, MFTA FEATURED, THEDAILYGOLD PODCAST

    https://thedailygold.com/larry-mcdonald-talks-gold-macro-short-long-term/

      Jul 12, 2017 12:13 PM

      Enjoyed….McDonald was a good listen to

    Jul 12, 2017 12:19 PM

    AMZN’s MACD on the daily chart just flipped positive. Get on the rocket ride to $2000.

    US stocks and gold will move in the exact opposite direction over the next 6 months.

    Jul 12, 2017 12:27 PM

    With Whole Foods behind them, they can grow organically… 🙂

    Jul 12, 2017 12:36 PM

    Jordan has been a gold bear and a bit gun shy ever since his previous calls for $1900 gold in 2016 never panned out.

    https://thedailygold.com/jordan-roy-byrne-believes-2015-will-see-renewal-golds-secular-bull-market/

      Jul 13, 2017 13:37 AM

      Paul no fair! How dare you show Jordan’s previous wrong calls.

      Nothing to see here. Move along.

      Let me guess…..lower….lower….lower
      gold and silver broken…Sentiment at 19 ….but it can go to zero…run for your lives.

    Jul 12, 2017 12:52 PM

    Gold’s monthly stochastics look precarious.

    Jul 13, 2017 13:33 AM

    My God Jordan, you have to be one of the most negative I’ve heard.
    Week after week after week….your comments are always…down…down..down.

    Each update “down…down…down” gold is broken..Silver is broken…we are doomed.

    You have been bearish since the lows.

    But of course your caveat is “if it moves above 1250…you go bullish.
    Seems to me you buy at 1210 and sell at 1250….not buy.

      Jul 13, 2017 13:55 AM

      +1 My sentiments exactly.

    Jul 13, 2017 13:18 AM

    Anaconda intersects 3.63 g/t gold over 12.0 metres at the Argyle discovery – expands zone of mineralization down-dip and to the northeast
    July 13, 2017 /CNW/ –

    “Anaconda Mining Inc. – (TSX:ANX) is pleased to provide initial assay results for the recently announced drill program at the Argyle discovery, located approximately 4.5 kilometres from the Company’s fully-operational Pine Cove Mill and tailings facility at the Point Rousse Project, Newfoundland and Labrador. ”

    Assay highlights from the first four holes of the program include:

    3.63 grams per tonne (“g/t”) gold over 12.0 metres (58.0 to 70.0 metres) in hole AE-17-46;
    3.22 g/t gold over 4.0 metres (45.0 to 49.0 metres) in hole AE-17-45;
    1.56 g/t gold over 3.0 metres (77.0 to 80.0 metres) in hole AE-17-47; and
    1.22 g/t gold over 4.0 metres (86.0 to 90.0 metres) in hole AE-17-48.

    https://ceo.ca/@newswire/anaconda-intersects-363-gt-gold-over-120-metres