Jordan Roy-Byrne – Technical For GDX, GDXJ, Silver and Where Financial Markets Go From Here

June 2, 2022

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins me to share his outlook for GDX, GDXJ, Silver and general US markets. 


Starting with GDX and GDXJ we discuss the recent bounce higher that has filled a couple downside gaps. We also look at the 100 and 50 day moving averages as these ETFs are right at these levels.


When it comes to silver we recap the month close that was the lowest since mid 2020. Silver has under performed against gold and has a very different looking chart.




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

    Jun 02, 2022 02:12 PM

    If you apply logic to what is happening now it is more perilous than ever. If inflation was a problem in 2021, it is far more serious in 2022. Do you know what is preposterous, Janet Yellen said she didn’t see inflation being a serious problem. Is not the middle class finished, is not the public committed to hand to mouth buying, where did we get such idiots running the financial system. If you are the head of The Federal Reserve can’t you see the storm signals building. Just look at the character of the stocks that had been leading the market advances. Most of them don’t produce anything and if they do it is built in China. LOL! DT

    Jun 02, 2022 02:03 PM

    I agree with Jordan’s point that with sentiment so poor in the PM mining stocks, and with valuations so depressed, that it makes far more sense to look at picking up well-run developers and producers that have quality ounces in the ground, and that also have exploration upside potential to keep growing, rather than the drill plays that are burning cash with no guarantee that they’ll ever find an economic deposit.

    Sure, the largest gains will eventually come from the tiniest and earliest stage companies, but the harsh truth is most will never work out, and we are not seeing that frothy sentiment that lifts all boats and causes even the turkeys to fly. For now, I’m most interested in the growth oriented smaller to mid-size producers with lots of room to grow production, development and yet still have room to keep expanding things through exploration success.

      Jun 02, 2022 02:53 PM

      It is a challenge to figure out what stocks in the development stage and the producers will be leading the advances, with an economic deposit. That is why I like listening not only to The Ker Report but also to Crescat Capital when they have their weekly updates. Quinton Hennigh knows how to define a deposit and what it’s potential could be. That can only come from a competent geologist. It was a smart move by Crescat to get Quinton involved in their analysis of mining companies. A lot of newsletter writers don’t have that kind of depth, and neither do most investors. One exception to the rule is Doc Jones, when he does his due diligence it is second to none. DT

        Jun 02, 2022 02:51 PM

        Good points DT. It is good to get a range of ideas and input, and yes Crescat does a good job having Quinton highlight some of the rationale behind the exploration stocks that they’ve chosen to take positions in, as does Doc Jones, amongst a number of other sites and thought leaders that also do a good job.

        We are happy to have a number of informed guests, fund managers, newsletter writers, and private investors savvy to resource investing as well as trading in other market sectors that regularly frequent our show, in addition to the many solid contributors here on the blog. Cheers!

      Jun 02, 2022 02:16 PM

      I also agree that producers like SGI, MKO, IPT and others, which are capable of increasing production are special. However there are a lot of explorers out there and if Schwab, Gates and associates have their way, alot of the stuff being discovered may never get out of the ground.

        Jun 02, 2022 02:38 PM

        Yeah, that is another reason to favor companies already in production, with solid production growth potential as well as exploration upside on land that is already permitted for disturbance and extraction. It’s a known entity and they can actually monetize the moves higher in the metals.

        Conversely, there are a number of projects that will never see the light of day as far as getting the minerals out of the ground… not that it stops them from continuing to mine investors with more and more capital raises and drill programs to infinity and beyond. If there isn’t a social license and support from the local and regional communities, and if the actual permits needed can’t be obtained, then all of the funds poured into exploration is a pretty moot exercise.

    Jun 02, 2022 02:47 PM

    Lots of folks ripping on Silver and the Silver mining stocks lately.

    Well, today was a good example of how they also can outperform on the upside when we see a little positive sentiment return to the sector. Got silver producers?


    Symbol – Silver Producers – Daily Change %

    EXK Endeavour Silver Corp. +15.91%
    AGX.V Silver X Mining Corp. +13.64%
    AYA.TO Aya Gold & Silver Inc. +12.41%
    GATO Gatos Silver, Inc. +11.94%
    GGD.TO GoGold Resources Inc. +11.79%
    GSVR.V Guanajuato Silver Company Ltd. +11.11%
    MAG Mag Silver Corp. +10.52%
    AG First Majestic Silver Corp. +10.45%
    IPT.V Impact Silver Corp. +10.45%
    CDE Coeur Mining, Inc. +10.36%
    APM.V Andean Precious Metals Corp. +9.38%
    HL Hecla Mining Company +9.11%
    AXU Alexco Resource Corp. +8.88%
    EXN Excellon Resources Inc. +8.70%
    SVM Silvercorp Metals Inc. +8.60%
    PAAS Pan American Silver Corp. +8.60%
    FSM Fortuna Silver Mines Inc. +8.24%
    AUMN Golden Minerals Company +7.98%
    USAS Americas Gold and Silver Corporation +7.86%
    SMTS Sierra Metals Inc. +7.60%
    SSRM SSR Mining Inc. +7.54%
    ASM Avino Silver & Gold Mines Ltd. +6.38%
    GPL Great Panther Mining Limited +6.16%
    SCZ.V Santacruz Silver Mining Ltd. +4.94%
    BCM.V Bear Creek Mining Corporation +4.21%
    HOC.L Hochschild Mining plc +1.73%