Jordan Roy-Byrne – Fed Outlook Past Summer and A Discussion On The Gold Chart

June 15, 2022

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to share his outlook for Fed rate hikes from September onward. He thinks the Fed will switch course faster than many expect after a summer of hiking rates. We also look at the gold chart weighing the long-term and possible short-term cup and handle formations. Gold has held up well in the face of rising real rates while the underlying stocks unfortunately continue to fade.




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

    Jun 15, 2022 15:16 AM

    NEM reversed perfectly at fork support but will it hold? My guess is yes…

      Jun 15, 2022 15:53 AM

      Lookin’ good right now. Hit a Fibo number within .03 too!

      Jun 16, 2022 16:28 AM

      Matthew, I hope NEM holds here as it is my largest holding even though I never bought it. I got NEM when they bought the old Franco Nevada and Goldcorp, and I plan to hold it till gold is 5K or 8k.
      How low do you think JNJ could go in the coming bear market? Are you selling any oil stocks or holding for another jump in oil and gas prices? DO you have a Berkey water filter? Thanks.

        Jun 16, 2022 16:14 AM

        Bonzo, JNJ could bounce here based on the daily chart but the weekly chart says it is going lower. The P&F chart price objective is 159 which will be reached easily. Long term, I don’t know but wouldn’t be surprised if it makes it into the 40s.
        I am currently out of OIH, XOP and the various pipeline stocks I had and am not looking to buy them back yet.
        I have an AquaRain which is similar to the Berkey and it works very well but I only drink distilled water these days and for many years now. I make it and never store it in plastic bottles.

          Jun 16, 2022 16:49 AM

          Thanks, Matthew. I bought JNJ@59 years ago and am thinking of selling to raise some cash. I sold 1/3 of my shares@170 a year ago and think I’ll sell more now. I will check out AquaRain. I have been drinking distilled water from a machine at the grocery store for years but think it would be wise to have something to purify water at home if I can’t get to the store when the food riots start.

        Jun 16, 2022 16:10 AM

        This might be of interest:
        (Btw, it’s not a good sign that Berkey repeats bogus claims against distilled water to help it sell its own products.)

    Jun 15, 2022 15:49 AM

    VZLA – added @ $1.26

    Jun 15, 2022 15:50 AM

    Swing Analysis : Trend Strength & Timing :
    Watching closely. Some held yesterday, some broke & bounced.
    Silver doing very well. Closing well could be crucial.

      Jun 16, 2022 16:12 AM

      General markets sea anchor.

    Jun 15, 2022 15:59 PM

    Went long gld this morning and sold my market shorts yesterday—-markets now past the hike and it appears that the closer the markets get to an announcement the more sell the rumor and buy the news seems to be in vogue—so far it has worked out. I believe that in the future the FED will first blink on QT before holding/decreasing the interest rates. In all likelihood the increase in credit spreads and illiquidity will be what cause them the earliest and most discomfort. We’re a ways away from that yet.

      Jun 15, 2022 15:33 PM

      Hi Doc. Was going long GLD today just a shorter duration trade for you?

      You just mentioned yesterday you felt Gold would pullback to the lower monthly Bollinger Band down around $1700 or right below that level, so wouldn’t that move hurt a GLD position?

      If your technical outlook is for Gold to correct down lower by another $140, then it seems like it would be more advantageous to wait for that move lower before buying any GLD. Just curious why you added today in that context?

        Jun 16, 2022 16:32 AM

        Ex, just a shorter duration play—we’re past the rate hike and as mentioned above the current pattern seems to be relief until we get closer to the date of the next FOMC meeting and then everyone gets anxiety and squirrely again and selloffs occur. The odds on favorite to see $1700 by September is pretty high.

          Jun 17, 2022 17:19 PM

          Thanks for clarifying that Doc, and I was thinking it was likely just a short-duration trade in between hikes to play the bounce. Yeah, we’ll see how much the markets squirm in their seats on the next rate hike in July. Cheers!

    Jun 15, 2022 15:16 PM

    From Jordan’s mouth to God’s ears – let us hope!