Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 13 Jan, 2021

Gold, Silver and Gold Miners – Here’s what the charts are telling us

Jordan Roy-Byrne, Founder of The Daily Gold joins me to share the levels he is watching for gold, silver and GDX. I also have Jordan comment on the relationship between gold and other markets plus silver and the base metals.

Click here to visit Jordan’s site – The Daily Gold.

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Comments:
  1. On January 13, 2021 at 7:35 pm,
    Matthew says:

    Maybe a test of Friday’s low is coming for GLD/gold? As you can see, it could make a modest new low without breaking the clear fork support that held on the first plunge. It’s plausible and starting to look probable:
    https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=7&dy=11&id=p63995545510&a=869321037

  2. On January 13, 2021 at 8:02 pm,
    Glenfidish says:

    Matthew,

    Right shoulder formation of an inverse head and shoulders is what I’m seeing.. been looking at this from every angle should not, would not cannot break lol… if it does Armageddon but if it doesn’t I’m in record I still believe the bottom is in this is a scare and 95% of ta analysis out there and the cut and paste bs is nonsense. Use to lose to much money and sleep over this yet you have yourself and me out here giving 100% truthful insight.

    If I’m wrong no worries I don’t lose sleep but 95% if this nonsense scare tactic and technical guys trading methods are absurd and only cause people to lose there money.

    You ever heard of the trader who always had a perfect trade Matt? The one who always sold at the right time and bought at the right time yet never said in real time? Careful many out there..

    We are in a bull heading up and right shoulder formation looks good to me.. soon enough we will know.

    Glen

    • On January 13, 2021 at 8:08 pm,
      Matthew says:

      Glen, it’s funny that you mention traders because my commissions today came to almost $650 today which is not the norm.

      • On January 13, 2021 at 8:09 pm,
        Matthew says:

        Oops, I guess I wanted you to know it was “today” lol.

  3. On January 13, 2021 at 8:04 pm,
    Matthew says:

    GDX is on a new daily MACD sell signal but that doesn’t guarantee significant downside.
    https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=9&dy=0&id=p51626891108&a=872008631

  4. On January 13, 2021 at 8:22 pm,
    bonzo says:

    Matthew, I am not worried about gold and silver miners. I am more worried about the new war on domestic terror. The new congress will declare all conservative gun owners to be terrorists and come after us. Watch “Time to Leave America–coach Red Pill” on YouTube.com Are you leaving?

    • On January 13, 2021 at 9:32 pm,
      Matthew says:

      I don’t intend to leave but could quickly if necessary. The problem is that the rest of the world’s governments have even less respect for those common sense “self-evident” natural rights we all have that should be untouchable. The bought-and-paid-for tyrant leftists here (both D & R), want the U.S. to be like everywhere else, or worse.
      Remember when the left pretended it was FOR free speech?

      “If liberty means anything at all it means the right to tell people what they do not want to hear.” — George Orwell

      https://www.cityam.com/by-restricting-free-speech-we-risk-sleepwalking-towards-a-tyranny-worthy-of-orwell/

  5. On January 14, 2021 at 6:02 am,
    cfs says:

    New Found drills 6.5 m of 18.1 g/t Au at Queensway
    2021-01-14 08:26 ET – News Release
    Mr. Craig Roberts reports
    NEW FOUND INTERCEPTS 18.1 G/T AU OVER 6.5M INCLUDING 38.7 G/T OVER 2.95M IN NEW “SUNDAY ZONE” DISCOVERY IN THE APPLETON FAULT HANGING WALL, 2 KM NORTH OF KEATS ZONE

  6. On January 14, 2021 at 6:05 am,
    cfs says:

    onterra drills 5.2 m of 26.6 g/t Au at Gladiator
    2021-01-14 08:39 ET – News Release
    Mr. Pascal Hamelin reports
    BONTERRA INTERSECTS 26.6 G/T AU OVER 5.2 METRES AT GLADIATOR EXPANDING A PREVIOUSLY DISCOVERED SUBPARALLEL VEIN ALONG THE MAIN ZONE

  7. On January 14, 2021 at 6:07 am,
    cfs says:

    Blackrock drills 3.11 m of 386 g/t AgEq at Tonopah West
    2021-01-14 08:23 ET – News Release
    Mr. Andrew Pollard reports
    BLACKROCK CORE DRILLING CONFIRMS THICK VEIN AT VICTOR TARGET REPORTING MULTIPLE SIGNIFICANT INTERCEPTS AND OUTLINES 2021 EXPLORATION PROGRAM AT TONOPAH WEST

  8. On January 14, 2021 at 6:09 am,
    cfs says:

    Blue Star drills 13.8 m of 14.95 g/t Au at Ulu
    2021-01-14 08:20 ET – News Release
    Mr. Grant Ewing reports
    BLUE STAR GOLD DRILLS 14.95 G/T OVER 13.80 METRES AT THE FLOOD ZONE ON ITS ULU GOLD PROPERTY
    Blue Star Gold Corp. has provided the final assay results from the 2020 exploration program at its Ulu and Hood River properties. The properties are located approximately 525 km NNE of Yello

  9. On January 14, 2021 at 6:12 am,
    cfs says:

    QMX Gold drills 196.6 m of 1.89 g/t Au at Bonnefond
    2021-01-14 06:38 ET – News Release
    Dr. Andreas Rompel reports
    QMX GOLD INTERSECTS 196.6M AT 1.78 G/T AU INCLUDING 5.45 G/T AU OVER 33.5M IN-PIT AT BONNEFOND
    QMX Gold Corp. has released results from the continuing deep exploration drilling program on the Bonnefond deposit. Drill hole 17315-20-155 (Figure 1) was completed as part of a series of drill holes testing the potential of the deeper portion at Bonnefond. The Bonnefond deposit is located in the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec

  10. On January 14, 2021 at 6:14 am,
    confused says:

    Hi Matt & Ex and Glenfish,
    I have a bit of cash I want to redeploy into silver-ish stocks. I was thinking U.S.A as it will have a quick 6 fold increase from here IF we have a quick run to a 36-38 dollar silver price. Reverse symmetry if that is something you think is important on that 10 year chart looks very ripe! I have lots of other solid plays including First Magestic, Alexco, MAG, Brixton, Kuya,Kootenay, Excellon and IPT. I already have a medium-sized position in U.S.A now…but might want to buy more over the next 2 or 3 weeks. I like all of what I have so far, but think the best “torque” could be in USA buying around the $3.40ish CND mark. Am I out to lunch here or are there better/safer plays available with similar “torque-potential”?. I want something that is relatively solid play but not a major like PAAS or a MAG. When I say “safer-plays” here I am aware silver is not usually considered safe….but looks like it could morph into a safer space as solid longer term 24$ silver floor sets into their balance sheets.
    Any thoughts on this scheme/ploy would be helpful.

    • On January 14, 2021 at 6:15 am,
      confused says:

      Doc sorry I left you out…I meant to add your name to my post too.
      cheers

    • On January 14, 2021 at 7:28 am,
      Matthew says:

      Hi Confused, USA is a good choice with a good risk-reward profile. You might get more leverage from some and less risk from others but it is a solid one that strikes a good balance. I chose Hecla recently for the same reason but it probably offers less upside and a little more safety.

    • On January 14, 2021 at 9:38 am,
      Glenfidish says:

      Hi confused,

      I run a tight ship so my portfolio is not as extensive as maybe yours, Matt’s or even ex. I already own a good chunck of impact by USA is a solid pick and I have discussed this with Matt in the pass.since you said safer plays I would stick to that list and add when you can on corrections from here. Sometimes you have all the answers in front of you.

      For a bit of more risk I’d say Santa Cruz and silver panther offer up some nice percentages once we head up. Mind you there is a monthly gap that sits at .28 cents of which I have a personal lot ready and waiting.

      Best of luck

      Glen

      • On January 14, 2021 at 4:36 pm,
        confused says:

        Thanks Glen!
        I will take a look at that Santa Cruz too.

    • On January 14, 2021 at 12:52 pm,
      Excelsior says:

      Hi Confused. You’re comments on IPT Impact Silver are spot on, and I recently rotated a few funds from trimming back Defiance, Aurcana, Santacruz Silver, and Sierra Metals into Impact Silver, USAS Americas Silver (that you also mentioned), and Silver Tiger. In addition, I put just a little more into Silvercrest, as I feel they’ve been a “safer” bet in the Silver miners, and like the work they’ve been doing to move from a developer towards graduating to a producer.

      I’ve also got a larger weighting to Alexco as well, because over time as they start producing at their Keno Hills operations, I believe they’ll retain a premium for being a Canadian producer, when most of the rest are exposed to Mexico or South America.

      In Mexico, I’ve got a bunch, but have been fortifying Endeavour Silver, as they’ve done so much to reduce costs, sell non-core assets, and have such a large growth profile in front of them from their development and exploration pipeline.

      That brings up a good point on the smaller to mid-size producers…. exploration success can still move the needle for them, compared to the larger behemoth miners. With Impact, Santacruz, Excellon, or Avino (the smaller silver producers) I’m also interested in watching the market react to their exploration newsflow in tandem with their production metrics.

      Ever Upward!

      • On January 14, 2021 at 4:43 pm,
        confused says:

        Wow!! that is a thorough take on things. Much appreciated!
        I am leaning 75% USA with another 20% going to buy back some IPT….sold some about 13% higher last week.
        thanks and beers…I mean cheers

        • On January 14, 2021 at 9:13 pm,
          Excelsior says:

          Yes, both beers and cheers to you as well confused. I like USA Americas Gold & Silver for 2021 a great deal in 2021 for a good rerating. Now that they have Relief Canyon up and running in Nevada, and Galena being optimized in Idaho with Eric Sprott’s big investment, then they can focus on getting things worked out in Cosala Mexico and get those bad actors out of the way with the blockades. They’ve traded at a discount to peers for a while, but had some legitimate challenges to overcome, and they are firing on 2 of 3 cylinders right now, and I’d expect resolution in Mexico in the next few months.

  11. On January 14, 2021 at 6:49 am,
    OOTB Jerry says:

    BITCON………..NOw the Target,,,,,,,,,Not looking good,,,
    https://www.zerohedge.com/crypto/ecbs-lagarde-calls-global-regulation-reprehensible-bitcoin

    • On January 14, 2021 at 8:17 am,
      OOTB Jerry says:

      BYE>>>>BITCON…………….. GOLD GOING HIGHER…….
      By design……just like Tulip bulbs……me think…..

      • On January 14, 2021 at 8:18 am,
        OOTB Jerry says:

        HUDDLE VS. HODL……………. me think…..

        • On January 14, 2021 at 12:53 pm,
          Excelsior says:

          OOTB – I still love those HUDDLE and HODL comments. Thanks!

          • On January 14, 2021 at 4:21 pm,
            OOTB Jerry says:

            You are welcome…..and thank you…. 🙂

  12. On January 14, 2021 at 6:52 am,
    cfs says:
    • On January 14, 2021 at 9:40 am,
      Glenfidish says:

      Sorry the gap was in reference to Santa Cruz.. SCV

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