Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 14 Aug, 2019

A close look at gold to gold stocks and gold to the US markets

Jordan Roy-Byrne, Founder of the Daily Gold joins me to share his thoughts on how the gold stocks are reacting compared to some other highly correlated markets. There is good reason for a correction in gold and the stocks are telling us that however this run just keeps on going. Remember a correction would be healthy to continue this bull market and and could help add some power to the next breakout.

Click here to visit Jordan’s site and follow along with his calls for the metals.

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  1. On August 14, 2019 at 9:55 am,
    cfs says:
    • On August 14, 2019 at 11:45 am,
      Paul says:

      Jordan where do you see the correction target og GDX? I’m a bit leary of following you on a correction in miners, the past three times you bought jdst in your portfolio when you called for miners correction you were wrong and lost money in all those trades, I quess you are due to be right sooner or later but will all the issues in vlobal economy, hong kong, trade issues hurting us mkt why should we see any sort of meaningful correction, so what is your downside target in gdx if your right on a miners correction.

      • On August 14, 2019 at 4:20 pm,
        TheDailyGold says:

        For the record, anyone who followed my hedge trades over the past 12 months is up considerably due to a massive win in August 2018. Also, the model portfolio is nearing an all time high. So I have been right and quite often recently. This is not news to anyone who has listened to me on KEReport over the past 12-18 months. Finally, as a subscriber you can send me an email with your question, rather than ask me through a public forum.

  2. On August 14, 2019 at 1:54 pm,
    mineralsrmoney says:

    There will be consolidation; pull-backs and corrective action during this phase of Gold/Silver and Miners bull market. However, we are merely in the bottom of the 1st inning. Thus, be careful not to outmaneuvere oneself as bull markets tend to leave many behind.

    • On August 15, 2019 at 7:05 am,
      Excelsior says:

      Agreed. For the very nimble, some can trim on overbought signals as long as they get right back in on a 10-20% correction, but for most it is not worth the gamble. In a bull market the risk is that the pullback won’t be as much as many are expecting, and then if it charges higher investors will be stuck on the sidelines to either chase or feel like they “missed it.”

      After all this time that many have been waiting for the breakout, it’s a shame that so many weren’t positioned by the end of last year, or at least this spring as the next move to higher prices is already well underway.

      Again, I’d say it is the 3rd inning, not the 1st.

      1) The move out of Dec 2015 into August of 2016 was the 1st inning.

      2) The 2nd inning was the consolidation with Gold rallying a few times in 2017 and 2018 and then pulling back bumping its head on resistance a few times, in the $1350-$1380 zone, while continuing to put in a series of higher lows.

      3) The move out of Dec tax loss 2018, or many are using the move out of May of 2019 a few months back to note the next 3rd inning has kicked off.

      • On August 15, 2019 at 7:20 am,
        Excelsior says:

        Gold’s $1650 Upside Price Target

        Robert McHugh, Ph.D. – August 11, 2019

        “Gold popped out of an Ascending Bullish Wedge. What is nice about this pattern is that it gives us an upside price target, in this case 1,650ish. We also annotated the current Elliott Wave mapping for Gold overlapping this pattern. Gold is now inside wave 3-up. However, in precious metals, the most dramatic moves are wave 5’s now 3’s like we see for stocks. This means Gold will be headed far above 1650 after it pauses around that level.”

        “Currently, Gold is working through its smaller degree wave {v} up inside wave 3 up. It is possible the above labeling could be one degree higher than shown here, and that Gold is inside wave {5} up of 3-up, which should top around 1650ish. Then Gold should pause in wave 4-down, before rising in a powerful wave 5-up taking Gold above 2,000.”

        “In previous posts we showed Gold finishing a Bullish Cup and Handle pattern that also gave us an independent third pattern with the same 1650 upside price target. Things are shaping up nicely for Gold Bugs.”’s-1650-upside-price-target

      • On August 15, 2019 at 9:20 am,
        Matthew says:

        Don’t forget that the P&F chart PO is now 1950.

        • On August 15, 2019 at 9:22 am,
          Matthew says:

          For silver, it’s a tentative 22.

  3. On August 14, 2019 at 4:57 pm,
    RICHARD/DOC says:

    Mineral, you are right on. My gut tells me this pullback may disappoint some again but it will just be an inconvenience in my view.