As weakness continues to creep into gold stocks, the US Dollar and bonds are also moving down
Jordan Roy-Byrne, Founder of The Daily Gold joins me to first focus on the continued downtrend in precious metals stocks. As close as this correction could be to being over this week is reminding us that the stocks have yet to bottom. We also compare the weakness in the US dollar and bond market to the metals and overall mentality of investors.
GDX reached an interesting Anchored VWAP today:
http://schrts.co/tXsJTNzN
Larry, you should like this Anchored VWAP based on the March low since it is near your 34 target:
http://schrts.co/PzyFSAaa
As you can see, the first one was based on the March 24 breakout.
SILJ is at a support that seems unlikely to hold so 13.20 is probably next:
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=0&mn=5&dy=0&id=p54148404768&a=842092075
We’re obviously testing the lows
If you mean the September low of 12.79, I doubt it. Of course it’s possible.
Wagner death cross says $1845.
Remember when bad employment #s were good for gold. Looks like they fixed that.
Finally decided to get some Bluestone (BBSRF) today. They have been having good drill results but were in Guatamala. I decided to take a chance but if the government continues to starve people, then may have to rethink. It is up a little bit on another bad day. Can’t let bad days mess us up…yet.
Sentinel Resources (SNLRF) had some interesting “sample” results. It also has pretty low outstanding shares. It has picked up properties in BC, Peru and Australia. Todays drill results was in BC in their Waterloo property and had some interesting grades in both gold/silver like many BC properties. About .37 cents US. FWIW.
Jordan will the next run up in gdx break the August highs?