Assessing the monthly and quarterly closes for Gold, Silver, and GDX
Jordan Roy-Byrne joins me to look at the monthly and quarterly charts for gold, silver and gold stocks – through GDX. March had some huge swings in the month but the closes are the most important aspect to look at.
This guy has said nothing, notice he never comits to anything, if this, but in the here and now, fact is his not a great technical technician.
His got high risk explorers in portfolio, he bought jdst last 3 times and lost all 3. When you ask too many hard questions he cancels your subscription. Stay away from this guy.
The vast majority of people should never touch ETFs like JDST and those who should probably prefer options for leverage most of the time.
In my almost 15 years of writing a newsletter I have only cancelled one person. I always advise a 20% stop loss to mitigate risk on said risky positions.The last 4 times I used JDST were profitable because the 4th time was a massive windfall, catching the 2018 summer crash. With respect to my technical skills, there’s a reason I’m being asked to do interviews constantly by multiple sources. Criticism on my work usually comes from people with limited or zero knowledge of technical analysis. The fact that this gentlemen is so upset about being cancelled reflects how in-demand my services are.
Gold finished the quarter higher for the 6th straight time and above the quarterly Bollinger Bands for the 4th straight time. The last time those things happened was in 2011 and 2008, respectively.
The picture is more bullish now than it was in 2002/2003.
Today’s pullback in the silver-gold ratio does not look too bad considering the plunging stock market…
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=0&mn=5&dy=0&id=p58984002534&a=733247074
Chris talked about falling jewelry demand and the Russians are stopping purchases for awhile.
I wonder how much affect that will have on the gold price.
I have been watching the silver price for phyzz in Calgary, it seems to be moving up, I have found it selling as high as $45 an once today (cdn)
It was only $30 2 days ago.
Yes, but that response from him was on the weekend show, as a cautionary note once the Q1 numbers come out for the Gold producers that could counterbalance any good numbers they post have produced most of Q1 with Gold in the $1500’s & $1600’s.
Jewelry demand is a factor in accumulating the metal, but isn’t really a primary price driver, and has little to do at all with Gold producers Q1 production numbers.
Investment demand in the paper markets, particularly the futures markets, is what drives the gold prices. There may be a day where the physical demands finally swamps the paper markets (and philosophically I welcome that change in the markets to real supply demand). However, I’m not holding my breath for that to happen anytime soon…
The miners are strengthening while stocks are weakening (GDX is +4.5% while DIA is -4.5%) and that bodes well for my view that the miners would turn up by Thursday or Friday.
GDX:DIA
https://stockcharts.com/h-sc/ui?s=GDX%3ADIA&p=D&yr=0&mn=3&dy=0&id=p22843737948&a=733242478