Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 30 Oct, 2019

US Markets vs Precious Metals – Sentiment, Fed Policy, and Fund Flows

Jordan Roy-Byrne joins me today to outline the importance of moves int he US markets vs precious metals. We discuss overall sentiment in both sectors which is one of the key drivers. Also short term compared to long term Fed policy related to a potential recession is key in determining short to medium term moves. Finally general fund flows are short term drivers to price.

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Comments:
  1. On October 30, 2019 at 11:59 am,
    CFS says:

    With McDonalds up almost 2% today, either the poor must be feeling rich, or the rich can’t afford a decent restaurant any more. hmmm !

    Johnson & Johnson up over 2%….must be people going to McDs needing Tums.

    • On October 30, 2019 at 12:23 pm,
      Matthew says:

      It’s mostly just inflation.

      April 30, 2019:
      -McDonald’s US sales growth was driven by the average customer spending more at the fast-food giant, even as customer traffic slipped, the company announced during its first-quarter earnings call on Tuesday.

      -Customers’ average check increased due to higher prices and a shift in what menu items they purchased, as more people ordered for delivery and via kiosks.

      McDonald’s is convincing customers to pay more as the fast-food giant ditches its Dollar Menu roots and raises prices

      https://www.businessinsider.com/mcdonalds-deals-cost-more-dollar-menu-era-ends-2019-4

      • On October 30, 2019 at 1:12 pm,
        Ebolan says:

        McDonald’s is convincing customers to pay more as the fast-food giant ditches its Dollar Menu roots and raises prices

        Just one more reason not to eat there.

        • On October 31, 2019 at 6:04 am,
          OOTB Jerry says:

          Super Size Me…………was a good look at McD………

  2. On October 30, 2019 at 1:05 pm,
    CFS says:

    https://www.marketwatch.com/story/treasury-yields-edge-lower-ahead-of-gdp-fed-decision-2019-10-30?mod=mw_latestnews

    While Powell is signalling no interest rate changes for now (and he may be right for December, (boosted by Christmas sales) I believe there will be at least 3 interest rate cuts next year.
    Although I had been thinking the US Dollar might be topping out and falling, I believe it is topping and will be in a topping process for quite a while, as Europeans buying of U.S. Treasuries drives the dollar up and excessive US Government spending drives the dollar down.
    In the meantime the US will lower interest rates simply to both bolster the stock market AND to keep the millstone interest rate cost of the National Debt from becoming the majority of the national budget.

    • On October 30, 2019 at 4:05 pm,
      Ozibatla says:

      Sound logic in my eyes CFS. All this seems to be contributing to muted moves in gold which does somewhat defy fundamentals. People are loving the frothy highs in the stock market.

  3. On October 30, 2019 at 1:24 pm,
    CFS says:

    Meanwhile the lack of regulation of Monopolies which has occurred during the Bush, Clinton, Obama eras has allowed crony capitalism (AND bought and paid for politicians) to develop.

    https://www.theatlantic.com/ideas/archive/2019/10/europe-not-america-home-free-market/600859/

    I think I understand the cause perhaps….
    The break up of AT&T was messy for a while and drew criticism and no President or Congress-critter ever wants to slow down GDP or lower the kickbacks they get from lobbyists.

    But these Political economist boobs do not understand the effect of monopolies in slowing down growth. Competitors are bought out to decrease competition.
    A large company just like a large Government is NEVER run as efficiently as a medium or smaller sized one (often out of necessity….a great driver)

    I cannot even remember the last time there was significant wnti-trust action, although we may perhaps see it sometime in the future for Google or Facebook.

  4. On October 30, 2019 at 2:06 pm,
    RICHARD/DOC says:

    HL with a nice little breakout.

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