Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 31 Mar, 2021

Gold commentary – The bounce today, net spec position, and inflation expectations

Jordan Roy-Byrne, Founder of The Daily Gold joins me to share his for gold and the key data he is watching for the metal. We start with the bounce today in gold and if that has changed Jordan’s overall short term outlook. We then look to some of the sector data as a barometer. This includes the CoT reports and the net spec position as well as inflation expectations.

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

View related posts on: , ,

Comments:
  1. On March 31, 2021 at 1:29 pm,
    Holy Grail says:

    ✓ AU bearish with failed rallies. ◀️ (me) ▶️COT can go very extreme until we hit bottom. Excellent analysis from Jordan.

  2. On March 31, 2021 at 1:49 pm,
    BDC says:

    NY close. Metals(active): https://tinyurl.com/h3sa9xb7

  3. On March 31, 2021 at 2:18 pm,
    OOTB Jerry says:

    WHERE IS BIG OWL………..?????????
    Hope he is OK…………..!!!!!!!!

    • On March 31, 2021 at 2:23 pm,
      OOTB Jerry says:

      https://www.zerohedge.com/covid-19/reaction-covid-19-vaccine-caused-mans-skin-peel-doctors
      I am posting this in the MINING SECTION, for fear Owl misses this…..and wonder where he is…
      Sorry, but, It looks like a slow day….And the Sponsor is a little more important….me think.

    • On March 31, 2021 at 3:22 pm,
      irishtony says:

      Hi Jerry….Both larry & me were concerned about his absense , so i sent AL an email , about two hours ago , no reply yet. Hope You & Your’s are keeping well.

      • On March 31, 2021 at 6:59 pm,
        OOTB Jerry says:

        Hello Irish……..thanks for the follow up …….appreciate you putting in an email….
        Please keep me informed…..
        Sorry, for the late note…..

        • On March 31, 2021 at 7:01 pm,
          OOTB Jerry says:

          I know it is late over there, ….so , I will catch you in the morning…..

    • On March 31, 2021 at 9:14 pm,
      Peter says:

      I can’t wrap my head around asset price inflation ‘not getting’ into the real economy. If house prices are getting bid up in Canada hundreds of thousands in many cases over asking, doesn’t that new found wealth chase everything else higher? If every home to exaggerate is worth 3, 4 or 5 million dollars, doesn’t that bleed into all ‘necessary goods’ getting inflated? Some of Jordan’s and most CB’s narratives don’t add up.

  4. On March 31, 2021 at 2:38 pm,
    cfs says:

    Benchmark drills 66 m of 2.98 g/t AuEq at Lawyers
    2021-03-31 06:09 ET – News Release
    Mr. John Williamson reports
    BENCHMARK DRILLS 66.00 METRES OF 2.98 G/T AUEQ EXPANDING NEAR SURFACE MINERALIZATION AT THE AGB ZONE
    Benchmark Metals Inc. has released new results from a series of drill holes at the AGB zone, including 66.00 metres of 2.34 grams per tonne gold and 51.48 g/t silver or 2.98 g/t gold equivalent (AuEq) and 5.00 m of 15.31 g/t gold and 180.80 g/t silver or 17.57 g/t AuEq in drill hole 20AGBDD039. This drill hole was the most southerly drilled during the 2020 campaign and returned high-grade gold and silver intervals beginning near to surface. A broad zone of strong mineralization is emerging at the southern extent of the greater-than-650-metre-long AGB zone that remains open at depth and along strike. Planning for the 2021 drill program is under way to target the southern extents due to its potential to add additional near-surface, open-pittable gold and silver ounces to the AGB deposit. Benchmark’s flagship Lawyers gold-silver project is located in a road-accessible area of the Golden Horseshoe in north-central British Columbia, Canada.

  5. On March 31, 2021 at 2:54 pm,
    Dick Tracy says:

    Hey David, Eric Sprott’s shelves are groaning under the weight of Sokoman shares (SIC-V) that he already owns. Sokoman can’t close their latest PP because Sprott wants more than 20% and they need approval from The TSX-V. Please sir give me more, I don’t have enough. Is this the gilded age or what? I seem to be the only person here that is playing Sokie. This board needs to do some DD. DT

    • On March 31, 2021 at 2:58 pm,
      Dick Tracy says:

      Ex is too busy with cannabis and uranium to notice the new Red Lake Mining District in Newfoundland. LOL! DT

      • On April 1, 2021 at 12:06 am,
        Excelsior says:

        Haha! DT, I’m aware of the big focus in Newfoundland with New Found Gold, Maritime, Marathon, Labrador, Sky Gold, and Sokoman. I wish you well with Sokie, and as mentioned, I traded it twice last year, and exited it because it was unclear if they were going to find the source of the mineralized boulders on their property, and that was before their last drill campaign had been done. At this point Sokoman and New Found Gold have run so high, I just don’t feel like chasing them higher at this point. I may position in Maritime soon though, hoping that Anaconda takes them over on a 2nd attempt.

    • On March 31, 2021 at 5:01 pm,
      David says:

      I have Sokoman probably for the fourth time. It pretty well waffled around for years but had on-going good drill results. I remember one interview he had with Craig Hemke where they asked him about stocks he had some knowledge of including Sokoman. He said he owned it and thought that possibly what was holding it back was the size of the resource. That led to one of my sales. When I saw he was adding to his ownership recently, that said to me he has changed his opinion. That is when I added.

  6. On March 31, 2021 at 5:58 pm,
    Glenfidish says:

    Good evening folks!

    I open up with a different verse instead of gold update lol as usual that many can’t stand yikes!

    Jordan first and foremost I like what you said today. For those who follow me which by the way I’m very close to opening up my own blog “ my wife has pushed me to it lol” I have said this a million times. I’ve been here forever and sometimes the people closest to you or who you believe to be part of your story are there for so long and then bang gone.. inknow for a fact the day I leave for good, I’m going to be emotionally not well because this has been a site to share with great voices forever and that I have learned plenty from. I’m getting at that point of challenging my own self that’s how good I feel and I honestly feel I’m ready..

    Which that all aside you will always know glen as Jerry knows me to be an honest guy even Matt knows that with emotions up and down. But make this clear my emotions don’t control my investments as they did prior to 2013.

    Jordan I think what you spoke today was bang on! I’ve criticized you and backed you up.. Today glen pumps you! You did your homework and you delivered honest true realistic approach and that is what I admire.

    This gold correction is not over and don’t let anyone including my predecessors or teachers tell you other wise. Save your money while they seek strength the best is still in control!

    I will let you all know when I open my blog.. I will run it for free for 3-6 months then after I deserve much praise as I have outperformed many!

    Glen

    • On March 31, 2021 at 6:58 pm,
      OOTB Jerry says:

      Hello Glen…….Yes, I think I can vouch for your character….

      • On March 31, 2021 at 7:51 pm,
        Glenfidish says:

        Jerry,

        What can i say? You remind me of my best uncle..He always had the best advice, care, genuine nature and laughter of anyone. He made you feel so welcomed and loved. You are a man of god! You dont hurt a soul and dont mean wrong, you just voice your opinion of which we are being currently challenged and stopped by the left..

        I named you the voice and gate keeper for a reason! You seek and fight for injustice as well as respect.

        There is something that attracts you to glen and vice versa and that is we are a dying breed..

        glen

        • On April 1, 2021 at 5:23 am,
          OOTB Jerry says:

          Hello and Good Morning GLEN……
          Thank you very much for the great note provided above.
          I am glad that I have been able to comment in such a way
          that you feel so close , comparing me to your special Uncle.
          Not sure I deserve it, but , thanks.
          The society which we live in has become a mess, holding on to
          Old proven traditions, is becoming a challenge for many.

          Glen, I see that you might be thinking of starting your own
          blog, if so, I for one will wish you the best, and would
          encourage you to seek what you believe is good for you and your
          family. Life is short. Remember, that you can still associate with
          us here, and I would be glad to come over and view your great comments. Owl, has told me a few times , that I should start my own
          blog also, but, that was when I was causing trouble 🙂 … That would not
          be applicable in your case, for I do not think you have ever caused any trouble.
          Well, if, you do decide, let us know where you can be found.
          Btw, I do not think it would be a conflict of interest, the world is short of good people with good info….jmo

          • On April 1, 2021 at 6:03 am,
            OOTB Jerry says:

            And …I almost forgot…….
            You would be truly missed…. I am sure by a lot of people, including myself.
            So, what every you decide, I believe the crowd , wishes you great success.(me too)
            And Thanks for all the great contribution which you have provided in the past.

          • On April 1, 2021 at 2:06 pm,
            OOTB Jerry says:

            every to ever….sorry

        • On April 1, 2021 at 9:02 am,
          Holy Grail says:

          Glen, that’s where discernment comes in. Apparently you’ve never read The Word.

  7. On March 31, 2021 at 6:01 pm,
    Glenfidish says:

    Gold had a guaranteed date below $1620 let me know if any guru that has said that? Remember folks one day you will look back and rennet someone called me a follower of guru which is very insulting because I bust my f***ing ass every night doing my homework and I have always been straight and in real time.. Some of you hate that and I’m cool with it. But never forget ex and Jerry I’m still a bull 100% just realistic

    Glen

    • On April 1, 2021 at 12:06 am,
      Matthew says:

      Glen, you misunderstood me. I did not imply that you follow a guru, I compared you to a guru because you don’t show your work.

    • On April 1, 2021 at 12:14 am,
      Excelsior says:

      Hi Glen. I know you are still bullish longer term, and you’ve mentioned a number of times that after this corrective leg that you expect a rally to new highs, and prices in gold as high at $3000. That’s all fine with me, and I wish you well with your new blog, and glad that you are applying your knowledge.

  8. On March 31, 2021 at 7:35 pm,
    Dick Tracy says:

    Chen Lin interviews President of Labrador Gold (LAB-V) their property is right next door to New Found Gold. They have visible gold at surface and drilling will start in approx. two weeks, they also have funding from Palisades Goldcorp. Interesting! DT

    https://www.youtube.com/watch?v=6R9b-_KrFEI

    • On March 31, 2021 at 7:55 pm,
      Glenfidish says:

      Ex,

      i wanted to acknowledge you tonight for not getting into heated wars with me or others. I know that you have respected my voice right or wrong and for that i commend you. Its not easy handling me and my tone. With that said you have consistenly delivered great topics ans education with miners and there delivery.

      you keep bring up valid and inceredible information regarding companies

      gracias

      • On April 1, 2021 at 12:22 am,
        Excelsior says:

        Thanks Glenfidish. I do my best to share helpful and interesting insights on the macro economics, different commodity & energy sectors, and individual company news; but I’m still learning every day, and often from the good folks here at the KER.

        Glen, I also appreciate what you share as far as your metals outlook, and your desire to help other investors avoid mistakes or keep them from losing money. Wishing you great success with your blog, and hoping it helps other investors on their journey to prosperity.

    • On March 31, 2021 at 7:55 pm,
      David says:

      DT:
      I bought Labrador when I saw the New Found Gold fault ran through their property. They got some drill results that weren’t all that special, so I sold. As usual, the next fay the announced that Quentin Hennigh was going to associate with Labrador. He was already assisting New Found…so back in I go. Nothing since QH signed on but it would be nice if New Found and Labrador have something in common.

      • On April 1, 2021 at 12:46 am,
        Dick Tracy says:

        Hi David, Labrador Gold’s share price seems rather high considering the lack of any positive drill results and compared to the success that Sokoman has had with the drill bit. If you have an affiliation with Quinton, and a financing deal with Palisades, as well as investors like Chen Lin (and his paid followers), this stock could run higher on hype similar to what happened with GoldON. It certainly is in a sweet spot! DT

        • On April 1, 2021 at 12:51 am,
          Dick Tracy says:

          When the price starts to ramp up again I may take a position in a few other junior’s in the area, just to catch the wave. One that comes to mind is Gossan Resources. DT

        • On April 1, 2021 at 5:49 am,
          David says:

          Labrador looks like by location to have to have the best chance to have what New Found might have. Price has been higher than others. My second buy was smaller than the first just to beat the crowd if they get lucky …and then add. I have more shares of Maritime, Anaconda, Sky and Sokoman… although I can’t recall hearing anything out of Sky recently. Reminder to self…

  9. On March 31, 2021 at 7:58 pm,
    Glenfidish says:

    David

    When it comes to overall mining jurisdictions, what country or region do you feel most comfortable?

    glen

    • On March 31, 2021 at 8:20 pm,
      David says:

      None of them. But, probably Canada because it is a critical part of the economy and remoteness from farming or industrial conflicts. Second may be Nevada. However, politicians and corporations will steal anything so no where is safe. To a certain extent, it is as safe as the management team makes it. A good example is Robeet Friedland in the Congo. I think it is Ivanho. I owned it years ago and it was doing well and a taxation issue arose. I took profits and sold. Friedland joined with the Chinese and everything has been fine and the share price shot up. It just depends on local relationships and economy apparently. I had Tahoe and barely got out with a gain. Not sure if it ever moved forward after Court cases blocking them. I think Pan American took it over. May be fine now…

      • On April 1, 2021 at 5:55 am,
        David says:

        I checked the price of Tahoe and it is $3.64 and I sold about $5.00.

  10. On April 1, 2021 at 4:20 am,
    Wolfster says:

    I read a headline in mining.com that said “Stars are aligning for uranium price rally”…..price has peaked through $30….. that’s good news for uranium plays….still like the leverage and discount that the uranium royalty warrants trade at even after yesterday’s move.

  11. On April 1, 2021 at 4:25 am,
    Wolfster says:

    On a different note, the charging station plays are rocking up so hard I will definitely be called on my cover called strategy. Up 40% in the last 3 days. EV plays are huge again it seems. I looked at your battery plays Ex. Added them to my list but haven’t bought yet

  12. On April 1, 2021 at 4:44 am,
    Wolfster says:

    Glenn….have always appreciated your input….If I could make a suggestion for your blog…..a proofreader.😉

  13. On April 1, 2021 at 6:07 am,
    larry says:

    The GDX target for this intermediate run up is 40.67….It is a bottom…’the’ bottom is history…forget that thinking….📡🚽
    https://tos.mx/YCN1tVD

  14. On April 1, 2021 at 6:53 am,
    larry says:

    Fly in the ointment is the dollar resilience…probably runs a bit higher in next month…how will gold react?…Weekly price near stiff oscillation price level resistance…

    https://tos.mx/bx3JcOr

  15. On April 1, 2021 at 7:56 am,
    David says:

    Interesting: yesterdays dogs are todays darlings. The pattern returns.

  16. On April 1, 2021 at 9:40 am,
    larry says:

    I just exited my NUGT trade at 57.00.. the open interest is not expanding…that may be shorts covering and not new buyers

    • On April 1, 2021 at 10:51 am,
      David says:

      Good thoughts Larry. I don’t know what I am looking at day-to-day. Something is different but the end result is keeping me range bound.

  17. On April 1, 2021 at 11:33 am,
    larry says:

    Weekly gdx bar is still awaiting yet another swing low to be completed……the set up right here and now allows for a 50% retrace of this weekly bar to around 32.88 which would be normal…the volume is not breakout bottom huge either… made out on a 2 day pop and decide to re-enter by next week…the GLD has pathetic volume participation…so wait to see how the institutions think through the gold assets….