Jordan Roy-Byrne – Precious Metals Correction; Is It Healthy Or Something To Be Worried About?
Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to discuss the current correction for gold, silver and the mining stocks. While a correction was due Jordan outlines why he is not viewing this as overall bullish, compared to past bull market corrections. He is not thinking gold will go back and test the lows but his bullish/breakout timeline is being pushed back.
I am not interested in Battery Metals or base metals mostly pertaining to EV’s. This is just another Ponzi scheme that will play out in the future but not now. It’s a sucker’s rally, you must be in precious metals if you are a contrarian. The Central Bankers, The Federal Reserve, and The World Economic Form want the public to pay for carbon credits but keep flying polluting jets and storing gold. Don’t look at what they say but watch what they do. DT
ponzi scheme?????…….the EV push is real and it’s being forced on the masses and will happen…. I will say that it’s buyer beware for which metal plays especially in lithium that you buy as there are a lot of cow pastures claiming to have it on their property after previously claiming to have REES etc.
Hecla could bounce some here but better buy would be at $4.40
It was a substantial drop in Hecla (HL) today. Down 9.38% on the day. I considered adding more, but my position is still well in the money and I’ve already got plenty of exposure to it and many other gold/silver producers. For now, just riding out the volatility…
Video: Gold Cup & Handle Pattern Remains Intact
Jordan Roy-Byrne CMT, MFTA – The Daily Gold – February 14, 2023
“In this video we discuss why Gold’s cup and handle pattern remains intact and is super bullish. Gold fits the parameters of a very strong cup and handle pattern. The right side of the cup is higher than the left and the handle consolidation has retraced only 38% of the preceding advance (ex 2% of the time).”
“Gold has not broken out yet, obviously, but based on the time that a handle can last, Gold should breakout in the next 12 months.”
It’s easy for some people to extrapolate someone’s near-term view and extend it out too far, when in fact most analysts are looking at different scenarios for different time frames. I posted this piece above that Jordan just put out 2 days ago, to illustrate this very point.
While he may have cautioned today about the short-term corrective action in the PMs, he also just made the case in the article linked above, (and also reiterated this in the interview here at the KER from today), that longer term the cup & handle pattern for gold is still incredibly bullish.
It is important to separate out short-term outlooks, from longer term trends in motion.
Charles Nenner on USAWATCHDOG.COM is saying the daily gold will bottom in March and the longer term protracted run starts in May