Jordan Roy-Byrne – The Discrepancy Between Gold and Gold Stocks Continues, What Will 2022 Bring?

December 23, 2021

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to share some of the technical levels he watching for gold and silver as well as discussing the continued under performance of the gold stocks. The under performance of the the gold stocks has been a constant all year so as we head into 2022 do gold investors need to be worried about another drop?




Click here to visit Jordan’s site.

    Dec 23, 2021 23:12 AM

    Fed Fuelling Inflation
    @jwolinsky on 23 Dec 2021
    “Commodity and labor costs are rising at a faster rate than product prices so the only direction for the gross profit margin is down. Evidence accumulated during the recent financial statement update shows that companies are in fact passing on rising costs as higher product and service prices. This is seen (graph below) by both the S&P 500 Index and the Otos Total Market Index gross profit margin rising. A soldi rebound after a 4-year almost steady decline and marks the 1st increase since 2019.”

    “It is important to be scrupulous around growth attributes of your portfolio of companies. With share-price indexes back to all-time highs it is important to sell stocks of companies with falling growth. ”

    “Evidence emerged recently that U.S. policy makers will go to even more extraordinary lengths to sustain the value of assets. The unusual gap between bond yields and inflation must fall. The proper policy response now would be to increase interest rates and restrict lending to cool an overheated economy and prevent evident rising inflation from becoming rising inflation expectations.”

    Dec 23, 2021 23:17 AM

    Listening to the interview I was thinking about the role Gold plays during heightened Global tensions, and yet not one commented about this. The consolidating that Gold has done will translate into energy once the metal breaks out. Look at the monthly chart and Gold has formed a beautiful cup and handle.

      Dec 23, 2021 23:55 PM

      John…….. ditto on the cup and handle….. I mentioned this at the time it completed the cup….
      the dang handle got extended way to long….

        Dec 23, 2021 23:41 PM

        Jerry… The LONG… Handle… 😉
        Let the cup runneth over in 2022…

          Dec 24, 2021 24:12 AM

          Merry Christmas…………. 🙂

    Dec 23, 2021 23:19 AM

    “Not one comment”

    Dec 23, 2021 23:16 PM

    I just heard his forecast! Get me a knife already! $25 for AG by the end of 2022? Christ, this guy has me so depressed now, I think I need a “keeper” ’cause I may be on the verge of slitting my wrists!!

      Dec 23, 2021 23:50 PM

      Don’t do that. Instead, make an investment contrary to his view. Like, sell a January $4 put on FSM and collect 6% for the month.

      Dec 23, 2021 23:36 PM

      Warm bath best.

      Dec 23, 2021 23:56 PM

      This is the beginning of the 1970s but on steroids. Real rate are going to remain negative and friendly to gold while inflation will keep the stock market under pressure. The perfect storm is setting up more perfectly than most realize.
      SILJ finished the week up 3.81% versus GLD and a little follow through next week will put it in a good position heading into the new year.

      At least for now, $25 silver by the end of next year looks extremely unlikely. The big picture is still in great shape technically.

    Dec 23, 2021 23:36 PM

    (ELE) (ELEMF) Elemental Royalties Board Intends To Recommend Rejection Of (GROY) Gold Royalty Corp Proposed Unsolicited All-Share Takeover Bid
    December 23, 2021

      Dec 23, 2021 23:38 PM

      Looks like the Elemental team is holding up the stop sign to Gold Royalty Corp, with a firm “no thanks.”
      In a way I get it as they don’t want to get picked off at such a low valuation before they have a chance to get rerated higher as their revenues are set to really start growing. We’ll see how things develop though between these 2 companies.

    Dec 23, 2021 23:09 PM

    SPQ(PE) :
    Are PM miners topping too soon?
    Has Natural Gas bottomed?
    (Oil still slippery!)

    Dec 23, 2021 23:38 PM

    Michael Oliver makes some definitive statements on gold in this interview. Let’s see where it goes:

      Dec 23, 2021 23:29 PM

      Thanks for posting that. Aside from his “MSA” approach, Oliver thoroughly understands economics and money (unlike every modern POTUS including Trump).

        Dec 23, 2021 23:28 PM

        I agree Matthew with his latest calls but nothing that you or I have not discussed regarding the price of gold and miners and were there headed. He is an asset so I will leave it at that.


    Dec 23, 2021 23:59 PM

    Defiance Silver, DEF, I saw 800k shares sell out of nowhere in the last 8 minutes of trade, it pushed the stock down 3 and a half cents from .435 to .40 on 2.4m volume, 6 times average. Possibly the last day for them for tax loss selling.
    I own some and it definitely wasn’t me, haha!;-)

      Dec 23, 2021 23:19 PM

      At least there are some signs of life. Impact(IPT) has gone to sleep and Santacruz(SCZ) is barely breathing.

        Dec 23, 2021 23:15 PM

        I still have heavier weightings to both of those, Impact Silver and Santacruz Silver, and they’ve been some of the highest torque tiny silver producers / explorers with be leverage to the metals prices (in both directions), and I remain very constructive on both companies from current levels and moving into 2022. My anticipation is that both will move bigly to the upside as the secular PM bull market continues to unfold.

          Dec 23, 2021 23:33 PM

          Big Ridge, BRAU, looking like a breakout IMHO, I own a tiny bit.

            Dec 23, 2021 23:43 PM

            We’ve had Mike from Big Ridge on the show a few times. I’ll check back in with him soon for an update.

      Dec 23, 2021 23:12 PM

      With Defiance Silver I’ve had a few really good trades and a more recent stinker. I’m looking to get back in during January.
      My first trade with it was just a 20% gain for a position trade from October 2017 to Jan 2018, but the larger trade was a series of buys & sells around a core position that led to an overall 3-bagger 300% gain building a position from Aug 2019 – July 2020 and then trimming it back in a few transactions in Dec 2020, and then finally selling the rest on Jan 4th of 2021. Where I got wrong footed with Defiance was my most recent trade in 2021 accumulating a new position over some adds during March, April, June and September, then trimming some in October, adding more in November, and then selling the whole thing in early December for a tax loss sale. Overall I’ve made a lot more money than I’ve lost with Defiance, but I don’t like ending on a bad note like that and still believe Defiance will have some good exploration work to do in 2022 and beyond. I’m looking to get back in during early January, and have been working to get them on the show for the last few months and hopefully that will happen in the next month or two.

    Dec 23, 2021 23:38 PM

    I see NVO tacked on nearly 8%, good for them. The thing that kinda pissed me off was when they went off to Malmsbury, Victoria chasing some Fosterville dream when I thought they should have been focusing on the Pilbara. None of my business now. They’re the experts, should know what they’re doing.

      Dec 23, 2021 23:20 PM

      Yep, a nice 8% pop in Novo Resources today. Nice to see. Actually it was a pretty constructive green day overall in the PM miners, with most of the ETFs up on the day, and my portfolio of mostly PM stocks was up 2.2% on the day. I’ll take it!

        Dec 23, 2021 23:49 PM

        Couldn’t stand it but just made purchase on the market open—-novo resources. They’re due for a bounce off an over sold position. They’ll come back again but I’m in this one for the long term.

          Dec 23, 2021 23:39 PM

          Hey Doc. Yeah, there is no shame in a Novo Nibble at these current levels for the longer term. One of the things I took away from the recent interview with Quinton and Mike was that they are still quite serious about getting multiple ore-sorters in use at Comet Well, Purdy’s Reward, and Egina, and they still have a slew of exploration going on, in tandem with getting the ship turned around at the Golden Eagle Mill, currently being supplied by Beaton’s Creek ore. Longer term, they are still on track to be producing from multiple deposits.

            Dec 23, 2021 23:41 PM

            Commencement of Phase 2 Mechanical Sorter Trials at Nullagine Gold Project
            – Steinert KSS 100F LIXT fine mechanical sorting unit constructed and commissioned at the Company’s Nullagine gold project in Western Australia

            – Comet Well and Purdy’s Reward samples have been processed with results pending

            – Concentrates undergoing assessment by Novo geologists ahead of assay to determine gold content

          Dec 23, 2021 23:32 PM

          Hey Doc!

          I have plenty of respect for you like I do for others I’ve been here for a long time. This does include Matthew as me and him have butt heads many times but at the end of the day and I can sit down at a table and have a beer with him. Matthew for your reference I have not had any whiskey or scotch tonight lol.

          doc I must ask you me and you have had private emails as well as Matthew and I’m a bit confused or for lack of words baffled at your 82% if I’m not mistaken position in minors being out. I personally can’t imagine anybody being 80% cash at this moment since I made my last purchases we have not broken those lows that means there’s a great possibility that you may be chasing prices higher? Can you please clarify if you’re still that percentage in cash or are you dipping more in?


            Dec 24, 2021 24:01 AM

            Glen, yes; I am that heavy in cash but have started purchasing again selected positions. The next 6 months should be excellent times to purchase since I feel 2022 will be the year of bottoming for the PM markets. I think the rest of this year and early January may see a small bounce in the metals and some stocks but then the reckoning after that when the PMs better make a significant run and establish their bull legs. The BBs are narrowing on the monthly charts and that’s why I say a “reckoning” is coming; a decision of a major direction will most likely be made in the first quarter of 2022.

          Dec 24, 2021 24:37 AM

          Hi Doc – Your in good company. Morris Hubbard just recommended Novo.

          Dec 24, 2021 24:13 AM

          Doc: It is good to see you are still into Novo – Mr Market threw them out with the bathwater and they are overdue for a little run.

    Dec 23, 2021 23:26 PM

    How Rick Rule Times Junior Mining Stock Buys & Sells (40-min discussion with Rick Rule & Brian Leni)
    Mining Stock Education – Dec 20th, 2021
    “Rick Rule shares how he would time junior mining stock buys and sells in this 40-minute discussion with Bill Powers and Brian Leni of Rick also discusses the possibility of a bullish 2022 for gold. Numerous other topics pertinent to resource investors and speculators are addressed. Rick offers his thoughts on recent gold sector M&A as well as the Kinross-Great Bear deal. He shares some insights regarding how he critiques management teams and determines when to sell or hold a stock that is underperforming.”
    0:00 Introduction
    1:18 How Rick times jr mining stock buys & sells
    3:34 As a broker, Rick would fire some clients
    5:45 Gold in 2022?
    11:07 Sprott Lending financing a mine amidst inflation
    14:11 Gold sector M&A
    18:05 Kinross buying Great Bear
    21:22 Using stop losses on mining stocks?
    24:26 Value investor dilemma: selling underperformer for perceived value elsewhere?
    27:59 How to access an executive’s forward-thinkingness?
    30:34 Good asset but ineffective management…what to do?
    32:00 Good management teams fail
    35:33 Street votes no-confidence in management but they are good technically
    38:37 Rick will review your portfolio

      Dec 23, 2021 23:51 PM

      Rick Rule: What The Precious Metals Super Cycle Means For You
      ABC Bullion – December 16, 2021
      “Today, commodities investing legend Rick Rule and ABC Bullion’s Shae Russell discuss why it’s more important than ever for investors to have gold and silver like savings and how the unique circumstances that benefited bonds and low interest rates are going to end up creating a ‘precious metals super cycle’. ”

      “Plus, Rick shares his thesis on the energy transition, what commodities we are in dire need of, and how the real gold squeeze hasn’t even begun yet. ”
      0:00 – Intro
      0:36 – Who is Rick Rule
      1:30 – Taxation
      5:45 – Cost of decarbonisation
      12:27 – Uranium
      17:00 – Why we need more Copper & Nickel
      20:00 – The real rare earths story
      23:03 – What is the ideal Gold to Silver ratio to have in your portfolio?
      27:58 – Silver
      29:29 – Silver Squeeze
      32:44 – The precious metals super cycle
      36:26 – What is the one thing an investor should know when they start on their investment journey?

    Dec 23, 2021 23:46 PM

    Silver in 2022: $50 or 15? Boom or Crash?
    Jordan Roy-Byrne – The Daily Gold – Dec 22, 2021 #TechnicalAnalysis #VIDEO

    Dec 23, 2021 23:58 PM

    Peter Grandich – Cash Is Critical, Equity Markets Have Hit Their High
    Stansberry Research – Dec 23, 2021
    “Cash is critical, I believe we’ve seen the highs in the general equity market,” he tells our Daniela Cambone in this edition of Outlook 2022: The Tipping Point. “Interest rates minus inflation,” is the key for gold Grandich continues, saying “they’re at unbelievable levels.” He concludes that, “we’re going to hit some traffic circles in 2022,” and advocates for cash and gold because, “it’s not about how much you make, it’s about how much you don’t lose.”

      Dec 24, 2021 24:02 AM

      Still More to Come
      Monica Kingsley – December 23, 2021
      “S&P 500 Santa rally goes on, and risk-on markets rejoice. What a nice sight of market breadth improvement, and confirmation from bonds. Financials and industrials are lagging, but real estate, healthcare and tech are humming smoothly. As I told you yesterday about volatility:”

      “(…) The VIX is calming down, now around 21 with further room to decline still – at least as far as the remainder of 2021 is concerned.”

      “We got the lower values, and today is shaping up to look likewise constructively for the bulls across both paper and real assets. Yesterday‘s dollar decline has helped as much as well bid bonds. Inflation expectations aren‘t yet doubting the Fed, there is no more compressing the yield curve at the moment, so it‘s all quiet on the central bank front. That‘s good, the Santa rally can go on unimpeded.”

      “Precious metals are peeking higher in what looks to be adjustment to the lower yields and dollar, and commodities upswing remains driven by energy, base metals and agrifoods. Cryptos hesitation may hint at slimmer gains today than was the case yesterday when instead of a brief consolidation, we were treated to improving returns.”

      Dec 24, 2021 24:03 AM

      I’m right where Stansberry is in position and thought.

    Dec 23, 2021 23:44 PM

    GLD climbed one fork support since March until finally running into a steeper fork support last week. Today, it put in its best weekly close in 5 weeks…

    Dec 24, 2021 24:38 AM

    (WM) Wallbridge Files 43-101 Technical Report for Detour-Fenelon Gold Trend Properties

    – 23 Dec 2021
    “Within three years of the discovery of the Area 51 and Tabasco-Cayenne Zones, through drill programs totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for Fenelon and an updated MRE for the Martiniere Gold Property totalling 2.67 Moz Au in the indicated category and 1.72 Moz Au in the inferred category.”

    Dec 24, 2021 24:08 AM

    TSX Venture index is overbought at an RSI of 75, you will have to apply your own indicators as it is a subscription site but is one of the only places to get a decent chart for the TSX.V.

      Dec 24, 2021 24:39 AM

      BTW, this index has tripled since the March 2020 bottom. IMHO we could bounce in and out of overbought territory for awhile yet.

        Dec 24, 2021 24:32 PM

        DEF +5% on .55m shares traded Christmas eve, pretty good!

    Dec 24, 2021 24:41 AM

    Dan Calgary mentioned Big Ridge possibly breaking out this week. It might be since it hasn’t done anything but move down with the ongoing trend. It became one of my biggest losers, so I took the loss thinking I could buy it back at suppressed levels before it moved back up. Now I am stuck until mid January or give up the loss.
    I still like it but I would feel better if it moved on News or something tangible.
    Win some Lose some.

    Dec 24, 2021 24:25 PM

    It’s impressive that silver has not come close to fully retracing last year’s vertical move but there’s also a hidden and more impressive show of strength that most have probably missed. The lows of September and this month both happened at 21.41, 18 cents above the weekly overbought high of 2016, the most important high since 2011 and one that didn’t come close to being exceeded for 4 years. You’d think that silver could at least backtest that high after breaking out above it last year but it hasn’t been able to. Instead, silver has found support essentially at the March 2008 high over 13 years ago (when gold was just over $1,000).
    This year’s lows and the 2016 high have made the significance of the 2008 high obvious and that significance seems to stem from the high monthly and quarterly close which came after the 77% drop from the all-time high in 1980. Stated differently, 21.25 was the high monthly/quarterly close following a nearly 130% post crash bounce in 1980 that was not challenged for the next 28 years. Now it has been 41 years and that very important “gateway” level has finally become support. Buying silver below $22 is now like buying it near $4.00 20-30 years ago which makes sense considering where gold was trading back then.

      Dec 24, 2021 24:56 PM

      Awesome find!! Thanks Matthew!