Jordan Roy-Byrne – Inflation Data And What It Means For Fed Policy and Markets

July 13, 2022

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to recap the 9.1% inflation print for June. This was slightly higher than expectations and all but locks in another minimum 75bps hike. We tie this data into what the Fed could do past the next meeting. We also discuss the moves in gold and the gold stocks. Recession fears are growing so what do we need to look for, market wise, when the recession will hit.




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

    Jul 13, 2022 13:25 PM

    Sold my Great Bear Royalty shares and finally bought back Eloro. Also added to Vizsla, Millennial, Calibre, Southern Silver, Lion One, Braveheart, Osisko Metals and Honey Badger.

      Jul 13, 2022 13:16 PM

      Man…. Calibre sure had a nice day didn’t it? (CXB up over 13% on the day).

      After adding more to Calibre last week, it’s now my heaviest weighted gold stock position, so today’s bounce was refreshing to see.

        Jul 13, 2022 13:36 PM

        As Shad always says: “Ever Upward”

        Jul 13, 2022 13:43 PM

        A “paint the taper” came in at the eod of Midnight Sun at 17.87% on my often inaccurate account. Not sure what that was about but we will see.

          Jul 13, 2022 13:46 PM

          Yeah, Midnight Sun (MMA) was up 17% today on Yahoo Finance, and it looks like on 3 times the average daily volume. I’ve never even heard of it, so good on ya Lakedweller2.

          There were a number of double digit gainers out there in the PM space for sure…

          Silver Spruce (SSE) was up 25%
          Firefox Gold (FFOX) was up 20%
          Solstice Gold (SGC) was up 17%
          Chalice Mining (CXN) was up 15%
          Minco Silver (MSV) was up 15%
          Seabridge (SA) was up 14%
          Idaho Champion Gold (ITKO) was up 14%
          Calibre (CXB) was up 13%
          New Gold (NGD) was up 12%
          Silver Viper (VIPR) was up 12%
          Santacruz Silver (SCZ) was up 11%
          GoWest Gold (GWA) was up 11%
          Sky Gold (SKYG) was up 11%
          New Pacific Metals (NUAG) was up 10%
          Pan Global Resources (PGZ) was up 10%
          Jaguar Gold (JAG) was up over 9%
          Guanajuato Silver (GSVR) was up over 9%

            Jul 13, 2022 13:47 PM

            Ah… I see Midnight Sun is Copper & Cobalt. Oddly enough, I have it on my Copper watchlist, so apparently at one time I marked it down. Thanks for the reminder Lakedweller2.

            Jul 14, 2022 14:54 AM

            Midnight sun is copper/cobalt early exploration in Zambia. It has a good sized package in one of the largest copper producing areas in the world, about 130mil diluted, and has some licensing already. First Quantum and Rio Tinto in area and it appears that Zambia is miner friendly, but I am no expert. Watch lists a good place to have it.

    Jul 13, 2022 13:26 PM

    GDXJ found 50% Fibonacci fan as well as pitchfork support:

    Jul 13, 2022 13:27 PM

    Jordan Roy-Byrne CMT, MFTA @TheDailyGold – 1:54 PM · Jul 13, 2022 · Twitter

    > Gold Now vs. 2013..

    Outperf S&P / Crashing vs S&P
    Same level as 12 yrs ago / Up 6x & 12 yrs in a row
    PMs ~2% of ETF assets / ~10%
    Sec Bear in S&P starting? / S&P 13 yr b/o soon
    USD 108 / USD 80

    Jul 13, 2022 13:33 PM

    Uh-oh… Inflation is finally hitting people where it hurts…


    Inflation: Coffee Visits To Starbucks & Dunkin’ Drop As Record-high Inflation Takes Hold

    Alexandra Canal · Senior Reporter Yahoo Finance – Wed, July 13, 2022

    “As inflation reaches new record-highs, more Americans are ditching their daily cup of joe — at least at big coffee chains like Dunkin’ and Starbucks.”

      Jul 13, 2022 13:48 PM

      Hi Ex, when I was working I always took my lunch in a brown paper bag, and had dinner at home, no matter how much money I made. When I first moved to Toronto in the early sixties there were only two restaurants open on Sunday (We had a Lord’s Day Act) and if you wanted a drink you had to drive to Buffalo, New York. Women were only allowed into a bar from Monday To Saturday and only in The Ladies and Escorts Room. I could count the number of fast food restaurants in this city on one hand. Canada was always much more conservative than The US. Some things from the past were better, but not everything! DT

        Jul 13, 2022 13:56 PM

        Yeah, not everything in the past was better. That’s a bit sad that the ladies were designated to their own room in the bar, and that only 2 restaurants were open on Sundays.

        I just asked my lady if she wanted to go out and have an extended late lunch and early dinner. Something tells me it is going to cost a lot more than a Starbucks coffee. Haha!

        “Happy wife, happy life” as the saying goes…

    Jul 13, 2022 13:39 PM

    When Bubbles Go Bust

    Jesse Felder – The Felder Report – July 13, 2022

    “While the decline in the broad stock market over the first half of this year has led many to believe the current bear market is just that old, it may be important to note that many of the most popular stocks in the market peaked and rolled over well before the major indexes did. In fact, it was the meme stock blowoff top back in February of 2021, nearly a year before the peak in the broad market, that marked the beginning of the bear market for many. And this sequence should be familiar to those of us who were involved in markets a couple of decades ago.”

    “Back in early March of 2000, the Nasdaq put in a blow off top of its own, similar to that in seen in the Goldman Sachs Non-Profitable Tech Index in February of 2021 (both indexed to 100 in the chart below). Much like the broader market today, the other major indexes didn’t follow the lead of the Nasdaq until several months later. In fact, the NYSE Composite even went on to make a new high in September of 2000, much like the major indexes did late last year. In both cases, the failure of the most speculative stocks in the market to confirm those later highs served as a clear warning sign for risk appetites in a broader sense.”

    Jul 13, 2022 13:41 PM

    Hope you all took the chance to sell today.
    Stocks are going lower… MUCH LOWER.
    You should be taking every chance you have to raise CASH!!!
    In the future you will need it to pay for the ever increasing cost of EVERYTHING.
    In the future, you will want it when stocks, especially PM stocks, are trading for a companies cash on hand value. Maybe they’ll be even trading for less that.
    More AXU situations on the way, and if you own shares in any of these risky miners then you are going to experience your own AXU moments if you haven’t already.
    Cash is the only place to be now.

      Jul 13, 2022 13:15 PM

      I dropped my membership in the JP Morgan Fan Club. That saves me .23 cents a month. Just a start.
      “Cash may be the only place to be” right now but I am looking at New Zealand.

    Jul 13, 2022 13:35 PM

    Check the lead article on crypto fraud. Might get some investment back in “Real Money”.

      Jul 13, 2022 13:41 PM

      Quite a thought-provoking letter that was sent to congress on cryptos indeed…


      Over 1,600 of the Brightest Scientific Minds in Technology Have Signed a Letter Calling Both Crypto and Blockchain a Sham

      By Pam Martens and Russ Martens – July 13, 2022

      “The letter is a punch in the gut to the Wall Street underwriters who have brought billions of dollars of crypto related companies to the public markets, most of which have now collapsed in price.”

      “The letter was sent to key members of Congress and to the Chairs of the Senate Banking and House Financial Services Committees. It is signed by more than 1,600 computer scientists, software engineers and technologists from around the world. There are 45 signatories who currently work at Google; 19 who work at Microsoft; 11 employed at Apple. (Those three companies currently have a collective market capitalization of more than $5.75 trillion; they can afford to hire the best and the brightest.) There are signatories that are Ph.Ds from the most prestigious universities in the world, including the University of Oxford and MIT. And all 1,600 have signed a letter that says this about crypto and blockchain:”

      “We strongly disagree with the narrative—peddled by those with a financial stake in the crypto-asset industry—that these technologies represent a positive financial innovation and are in any way suited to solving the financial problems facing ordinary Americans…

      “As software engineers and technologists with deep expertise in our fields, we dispute the claims made in recent years about the novelty and potential of blockchain technology…”

    Jul 13, 2022 13:58 PM

    Job Layoffs Circulate Throughout Tech Industry

    Yahoo Finance – Wed, July 13, 2022

    “Yahoo Finance tech reporter Dan Howley outlines the hiring slowdowns issued by Google, Meta, and other tech companies amid this year’s prolonged economic uncertainty.”

    “I think it’s just because these are the gigantic tech companies that have hundreds of thousands of employees or at least more than 100,000 employees. And when you see layoffs or even slowdowns there, you start to think, well, if these big companies that are supposed to be so– positioned so well aren’t doing as well as they normally are, then this is a larger problem.”

    “So I think that’s really what people are saying. They’re looking at this saying, this is Alphabet, this is Meta. They’re not hiring new people or they’re slowing down, that’s when it starts to get a little scary.”

    Jul 13, 2022 13:12 PM

    Rick Rule & Brien Lundin – Commodities Setting Up To Boom Higher?

    Wealthion – 07/13/2022

    “Veteran hard asset investors Rick Rule and Brien Lundin are both so excited by the future prospects of this sector that they pulled together an impromptu webinar this week to update their respective followers on why they think the current price action is a cyclical correction in a much larger secular bull market for commodities – meaning it’s offering a chance to buy in a very attractive valuations before prices resuming rising up to new highs.”

    Jul 14, 2022 14:18 AM

    The optimism of yesterday’s G&S spike higher following the CPI announcement has been smashed again today. Perhaps Joe is right !

    Jul 14, 2022 14:46 AM

    already got stopped out…charts are not working for the moment

    Jul 14, 2022 14:09 AM

    The warnings of more downside came from yesterday’s late session weakness that saw the HUI, XAU, GDX, etc. fail to deliver key reversals. All looked good early in the session but the strength dissipated.
    Several weeks ago I mentioned that I wanted to see silver below 18 and SLV below 16.60 and today’s lows were probably close enough at 18.01 for silver and 16.73 for SLV.

    Jul 14, 2022 14:44 AM

    The HUI hit two fork supports today and is weekly oversold for the first time since 2018 based on the RSI(14).

    Jul 14, 2022 14:28 AM