Gold market moves compared to other key sectors, and what gold stocks to focus on
Jordan Roy-Byrne, Founder of The Daily Gold joins me for a look at how gold has performed compared to gold stocks, bonds and the US markets. There are some very encouraging signs for gold investors. We then look at the types of gold stocks that Jordan thinks have the best chance of running higher.
Yes, lets all show respect. I know know his wife in poor health and on chelation for some time……never a good thing.
What sad news! Big hug for Al.
Yes, I just heard about her passing today and am very sad for Big Al and his family’s loss; and wish them the very best during this tough and emotional time.
Big Al, I am sorry to hear of your great loss. Please accept my sympathy’s. DT
Condolences and prayers to you and your family Al
So sorry for your loss Al. Life is not short, until you get older.
Greatest condolences to Al.
Off Topic: I’m surprised we haven’t seen more chatter lately about all the “meme stocks” like GameStop, AMC Entertainment, Blackberry, etc… taking off to the moon again, with all the moves by the WallStreetBets, Reddit, Robinhood, WeBull crowds…
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Preservation Of Wealth Vs You Only Live Once – Another Victory For Retail Traders As AMC Price Blasts Off
@TheTechnicalTraders – Chris Vermeulen (06/02/2021)
“In a market flush with cash where traders are able to use social media to target heavily shorted symbols – incredible things can, and often do happen. AMC follows GME to the heavens as retail traders flex their muscles while pushing institutional-level players to the sidelines. It is a true David vs. Goliath story where the impossible is possible.”
https://www.thetechnicaltraders.com/memberships/aff/go/organicchef?i=238
God bless you and your family!
A very sad day.My condolences to Big Al and family
Al,
So sorry to hear about Kathy’s passing.
Prayers for you and your family.
Good comments from Jordan today on how the broader Gold stock averages have fared recently, outperforming the metals, and it how Gold has also decoupled from the bond market to outperform (something I’d mentioned in a previous article we’d start seeing more of, over the next 2 years, in the great rotation out of bonds and into gold).
I agree with him that we may need to see a short-term pause that refreshes in the Precious Metals space, but that overall the action since the March double-bottom has been bullish and encouraging, especially those higher monthly closes for both Gold and Silver to wrap up May.
Mining Industry To Continue Flying High Through 2022
Mining.com Editor | June 2, 2021
“Global miners can continue to expect an “exceptional year of earnings” through 2022 as a broad commodity price rally underpins strong financial results for most actors, according to a new report from Fitch Solutions.”
“Despite sky-high earnings, Fitch expects miners to maintain restraint over capital expenditure, instead focusing on further debt reduction with the additional profits generated this year and next.”
https://www.mining.com/miners-to-continue-flying-high-through-2022-report/
Deepest Condolences Al.
Orchestrated smash of paper contracts starting last night and moving around the globe. Same MO of the criminals. Worms…
Got 4 in the green. Their program is not comprehensive. Wimps
My account now has 8 green. Going crazy…not.
AL my condolences to and you family! May god help find peace and heal.
Jordan perfect timing for the gold top lol..I mean its classic. For those of you who do not like my analysis, just put me on ignore and don’t waste each others time.
We have started a daily cycle low targeting minimum $1797 but $1765 screams loud.. That $1902 top i had worked out just fine and mgd top of $41 cam up just short.
The weekly should let us know how this correction proceeds if it will be hard massive red candle down today, over few day or a week..Could also play out as a one or two week event.
My bigger question will be how the miners act around this correction and i have been saying for some time many will be dragged down and break previous moths low. I think i have said throughout the years to always be cautious and make sure you do your own homework first before taking any advice. This is what I have posted on my wall.
1. The market takes you were it wants to take you
2. Candles must follow volume
3. Market makers/wealth/bankers dictate how far they want to drop the miners irrelevant to price action of gold and silver.
All the best and remember pendulums and cycles and money swing both ways and when they are not favourable to the actual bullion that means they are twice if not three times as not favourable to the miners.
glen
Glen,
The health of general markets will likely determine the extent of PM retracement.
PM Trading Price Quality (active): https://tinyurl.com/4nnha2vd
https://adpemploymentreport.com/
Compared to NFP, ADP usually has little effect, even with good numbers.
Tomorrow’s May Non-Farm Payrolls Report (0830) may mean more downside.
Glen:
Just a suggestion. Put out the facts as you see them and spare the personal comments that are not relevant to your projection. The more you deviate from analysis and resort to extraneous material, the less credibility you have. If your goal is acceptance of your theories, professionalism will carry the day over bullying. Humor is ok, but it must be differentiated from insults. Other than that, keep those ideas coming.
This is the sharp pullback that I warned about on Saturday:
On May 29, 2021 at 4:31 pm,
Matthew says:
“Keep in mind that we still could get a sharp pullback in a week or two (of course possibly even sooner)…”
GLD has backtested its May 20th Fibonacci fan breakout which happened when it was already overbought.
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=11&dy=11&id=p12125314696&a=964846340
Is congestion like a bull flag. It looks similar to me but I don’t have your knowledge and skill. Thanks.
Yes, flags and pennants are formed by congestion that takes certain shapes.
Thanks. I am getting there at turtle speed…the turtle is winning.
This looks kind of like a bull flag to me also. I guess they cease to be a bull flag when they keep going through support. But, in the meantime, today looks like an abnormal event in the scheme of things.
I think there’s often a combination of normal and abnormal. Big manipulators are not dumb so they always use the charts/mother nature to their advantage to get the best bang for their buck. For example, if they wanted to start a correction, days like today are perfect due to the charts. Likewise, days like today are perfect for making a correction scarier than they might have been if they did not start it but joined in after the fact.
Thanks. I like that response. It reinforces I am not crazy…or maybe half crazy. I like to complain about evil doers and feel justified. I am looking for todays blitz to recover into close…I guess I can look all I want, but will it…sometimes I think they read the Kereport and then mess with us…nah.
You’re definitely not crazy. Just keep in mind that the trouble they cause will be overcome each and every time. Unlike the GATA types, I do not believe for a minute that they will ever be overrun permanently but they don’t have to be for the market/nature to still have its way. The price managers will always bring huge volatility to this space as well as many others.
Good comment Matthew, IMHO a %50 retracement would be around $1800 Gold and $26.50 Silver. At this time of year it could bring the miners down but I think there is predictive powers that be that will see the value before things get out of hand on the downside. IMHO only!;-D
I doubt such a deep pullback for now but that can change. Based on the weekly chart, this pullback will be bought aggressively by many. Watch the KAMA and that declining support that it happens to be at/near:
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=8&dy=0&id=p09634774827&a=959654066
I like the big gap-down because it scares out a lot of weak hands while simultaneously creating a bid among experienced traders. They now have now have an upside target in the gap-fill. At the very least, this can set up sideways chop rather than significant further downside before the next advance.
Speaking of gaps, GDX wasn’t quite able to completely fill its May 17 gap this morning and that is a show of strength.
https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=11&dy=0&id=p31512167557&a=938889965
It looks possible that your other projection that any downward movement will be relatively short may be correct. Seems many of these charts are close to support. I guess if they want to do a one day hit, that gets the pain and suffering over quicker. Better than an 8 month correction.
Started over 3% down and ended up over 3% down. It was like price was determined yesterday. Several red engulfing candles on my stocks.
Pertaining to Jordon’s comments regarding undervalued companies based on ounces in the ground……………BRAU.V comes to mind as my sweetest undervalued play………soon to close a deal with First Mining for a million ounce brownfields project open all around…Market Cap a paltry 9 million !
Thanks Larry
Sunny beach! Why didn’t you tell us about it sooner? 🧐 I like the big picture looks of that but would have liked to buy it half of today’s price!
All that volume lately looks like a good sign to me.
https://stockcharts.com/h-sc/ui?s=BRAU.V&p=W&yr=5&mn=8&dy=0&id=p87554797199
Just a heads up for some of you invested in Peru, elections are being held on Sunday. And if I’m correct with this being a more serious pull back for many miners will gap down tomorrow and more so the ones in Peru with sharper pull backs ahead of the election of course imo.
I think demographics and political uncertainty and direction in the last few years are going to put strain in expenses for miners in regards to workers wanting more wages and security as well as for the governments wanting there piece. I think short term that will and can affect prices but longer term the bull is intact and higher prices will deflect that all away with earnings.
I continue to be 20% cash and still liking the actions of the small cap/developers as I still see plenty of bargains to be and come.
For the record I don’t think anything is absurd to discredit the low gold being broken. So many factors I have that can easily still make it happen. The market does what it wants not what we want it to do.
So for now the double bottom could be a bottom like many thought when it was higher from that bottom all the while dropping down. That’s why nothing is set in stone..
Glen
I will keep sharing my views that won’t change nor will anyone trying to knock me down and pump there chest as this is a free world and French speech and I’ve been raised to see it as such and will die fighting for it. I share with you all my perspective of things event though I understand most are I vested heavily and are dependant of price going higher. I to have investments much higher and have been stuck above.
Glen
Glen……always like your thoughts…….. thanks for the update……..
UPDATE (June 3, 10:21 a.m. ET): Ha-ha. Just when I mention “no takedowns,” DaSleazeballs hammer down gold by $45. The proximal cause of this fake selloff, abetted by evidently still abundant, fearful clowns, was allegedly ‘bullish’ unemployment data. Stay the course! – Rick Ackerman
Jerry we are one because of faith first! Investments can kiss my ass because in the end money don’t mean shit if you are not invested in what matters. Sorry wrong thread lol.
I connect with you because you are humble man of god. Let’s leave it there before technicians come after us. I’ve always said to you I’m 100% bull but but the mm take miners down easily the corruption is true and many don’t want to acknowledge that’s cool!
My point is the miners show one thing the bullion another which means they take advantage when bullion goes down 3x as much as I mentioned.
Thanks for always having my back and importantly connected via the higher superior! You ain’t save till you respect others period.
Glen
Thanks Glen…… for the reply and thoughts….appreciate….
You might come over sometime, to the political section,…while it still exist.
And we can share a few thoughts…. Thanks again for being a pal….
Btw….. I did enjoy the first sentence…. 🙂
Thank you Jerry! Don’t ever let my calls make you believe I’m an overall bear that would never be the case. I defend all investors and want them to know that “ the overall picture” in the miners themselves can be whipped and taken down at will. He who ignores that would be Fullish as for me that’s were the money is maid and many ker followers respect me.
Glen
There are three miners in particular that I live there trend and I’m letting them come to me instead of emotions come to them. I will not rule out a true love until September because that is still in the cards but if I see candle and Volume show me different I would be the first to let me followers know I’m all in!
I will let you always know when I buy and sell never after the facts and never after honking the horn for consecutive months the low is in yet miners fall hard and family ker investors getting hurt.
With me you will get a sell and big signal not just buy!
Glen.
Glen…….. thanks for the additional post and explanation .
Thanks for keeping everyone posted…. I tend to agree with you on
watching for a possible pull back.
Since we need to watch what happens with BIS, and Basil 3…around June 28, and
later into Jan……anything could happen with the price of gold.
JMO
Thanks again.
Just keep in mind…………..
Under the new rules which are to be presented in full on June 28 of this year, the price of gold will no longer be subject to manipulation on the part of the US and the UK, because the most important banks of these countries will no longer be able to count on “unallocated” – i.e. non-existent gold – for their collusion regarding price control of the metal.
Fake gold and Fake Fauci…….. are going to be exposed….this Year… 🙂
GOLD
Since 2000 +1,593.50 +553.68%……….divide that by 21 yrs…..equals….26.33% yearly…. I think that is a good return….. 🙂
My condolences and prayers to you and your family Al. God bless.
SPECIAL NOTE>>>>TO THE KER …………..
Al’s Wife has passed away according to Jimmy…………
Please show your respects for the Founder’s Wife……
And Hope that Al finds some peace in the Days ahead……..