Jordan Roy-Byrne – Technical Outlook On The US Dollar, Interest Rates, Gold, Silver, GDX, and GDXJ

Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to review his technical outlook on the US dollar, interest rates, gold, silver, GDX, GDXJ, and the Gold-Silver ratio.   Overall the near-term setup is still bearish for the dollar and constructive for the precious metals sector, but he feels that interest rates are really the key signal to watch for changes in the trend.  We note the positive divergences on the advance/decline line in the PM stocks, and that it is bullish that silver and the mining stocks have recently been outperforming the moves in gold. We wrap up exploring the 2 potential paths forward for the PM sector as markets setup over the balance of the year before the recession hits.  




Click here to visit Jordan’s website – The Daily Gold.

    Jul 19, 2023 19:36 PM

    (KRR) (KRRGF) Karora Announces New Quarterly Gold Production Record of 40,823 Ounces

    19 Jul 2023

    Paul Andre Huet, Chairman & CEO, commented: “I am extremely pleased with our very strong first half of 2023 with gold production of 80,650 ounces, driven by back-to-back quarterly production records to start the year.”

    “The strong first half of 2023 puts us in excellent position to meet our full year 2023 gold production guidance range of 145,000 – 160,000 ounces. We also added to our cash position in line with our budget as we continue the work at Beta Hunt on ventilation upgrades and capital items – all within our guided capital plan.”

      Jul 19, 2023 19:43 PM

      Overall (KRR) Karora Resources has done a pretty good job of holding onto the gains it made coming off the lows in Q4 of 2022 at $2.38. It closed today at $4.86, and got as high as $5.71 in January and made a slightly lower high in May at $5.61. It did also make a slightly lower low from $4.04 in the February sector selloff and then down a bit more to recent low of $3.88 in the late June doldrums.

      The lower high and lower low may portend of more weakness to come if the pattern of sideways channeling continues, but it did just stage one heck of a nice rally over the last few weeks from that $3.88 in late June to $4.86 today. It’s encouraging to see that kind of torque off a slight improvement in the underlying metals prices and followed up with recent positive news.

      While it may not have as much upside potential as an early-stage drill-play that makes a new discovery, it also doesn’t have near as much downside risk as most of the PM pre-revenue and pre-resource juniors, (that haven’t yet proved that they even have an economic resource in the ground). From a trading perspective, many of these growth-oriented gold producers with big exploration upside have plenty of volatility to capitalize on for those buying the dips and selling the rips. In a better PM sentiment environment growth-oriented producers will also be the companies that rerate higher first, since they actually do have defined ounces in the ground and can immediately monetize the better metals prices with improved margins.

      > Additionally, Karora has a fair amount of high-grade Nickel in it’s resources, giving it the Critical Minerals component and kicker from the nickel production and nickel exploration, alongside the gold resources.

      KRR Chart:

    Jul 19, 2023 19:37 PM

    from an article that larry posted in the ORPHAN SECTION….

    That’s why next month — August, 2023 — BRICS nations are meeting and announcing what is reported to be a gold-backed cryptocurrency.

    This cryptocurrency will reportedly be decentralized, meaning that no nation can alter its ledger or print more coins (i.e. money) out of thin air. The fact that this BRICS-based ledger cannot be counterfeited will give it intrinsic value that will instantly make it a better store of value than the US dollar (which is losing purchasing power by the day). We can expect a rapid adoption of the BRICS cryptocurrency system by the nations of the world. And when those nations no longer need dollars to carry out transactions with other nations, they will dump the dollar.

      Jul 19, 2023 19:15 PM

      Where will all the physical gold be stored, Shanghai?

        Jul 19, 2023 19:26 PM

        Good question………….
        I would think , each country can store their own….
        But, then the nasty usacorporation/cabal mic, war monger, would go after
        the weaker countries, and steal the gold….

          Jul 19, 2023 19:28 PM

          The article is posted over in the ORPHAN SECTION…..
          There are a couple of good post… on the subject….
          See larry’s comments…

            Jul 19, 2023 19:02 PM

            Hi Jerry, Fort Knox was audited around the time of the end of The Korean War (1953) so we know America’s bullion was still in storage. Vietnam would have been a very costly war for your country because Nixon hadn’t dropped the gold standard until Bretton Woods (1972) so printing money would have been much harder. The Vietnamese war might have drained Fort Knox to pay the bills. DT

            Jul 19, 2023 19:20 PM

            Hello DT……….
            No gold in Ft. Knox, is almost a given, ….. ..
            Wonder how much is in National Parks…… like the Grand Canyon…, Bix Weir is always
            inferring that is the case…. Never know for sure….

      Jul 19, 2023 19:27 PM

      Currencies that are backed by nothing tangible always run the risk of being worthless and subject to corruption. As they go from peak value to zero, wealth is transferred to thieves.

    Jul 19, 2023 19:35 PM

    The question for 12 years was why the FAANG stocks dominated the markets. The question during the recent rally has been why the FAANG stocks dominated the market. It is possible that AI determines the markets and Wall Street designs the programs. Seems it is time for all Retail to complain on a daily basis.

    Jul 19, 2023 19:24 PM

    David Brady: Gold, Silver Have Room To Upside, But There Will Be Pullbacks

    Arcadia Economics – (07/19/2023)

    “It’s amazing what a difference a week can make. As just last week gold and silver prices were near their lows of the current cycle, with sentiment in the sector once again about as grim as can be.”

    “Yet following a rally that began after the release of the latest CPI and PPI reports, the precious metals prices are higher, and a bit of enthusiasm has returned to the market.”

    “Which as David Brady of Sprott Money and talks about in today’s show, is one of the emotions that can make trading and investing in gold and silver a real challenge. As it can be hard to be a buyer at times when the prices are low. With the emotions involved making it difficult to go against the crowd.”

    Jul 19, 2023 19:27 PM

    Christopher Aaron – Gold: Watch Out in 2024

    Soar Financially – July 17, 2023

    “Our guest discusses his leading indicator of why 2024 could be challenging for gold investors. Christopher Aaron cautions that perhaps the miners are signaling something.”

      Jul 20, 2023 20:51 PM

      impressive……I forgot about this fella…He was a guest around a year ago, by now….My loss…I put it in a folder to review w his other dissertations…thanks EX!

    Jul 20, 2023 20:36 AM

    Jordan mentioned the divergence with the advance-decline line and the recent low. I’ve also noticed that the bullish percent index didn’t make a lower low with the price. The silver cross index often goes all the way from 0 to 100 and back again though. Either way, breadth diverged from price and now both continue to improve. I started adding my trading positions back when the silver cross hit zero and bounced up and the stocks above their 50 day moving average improved.

    My normal boring breadth chart (GDX, bullish percent index, silver cross index, GDX stocks over their 50 EMA. with 20 day EMAs)

    Jul 20, 2023 20:31 AM

    Nevada King Gold (NKG) announces intervals of 3.39G/T Au over 100.6m and 2.67G/t Au over 73.20m, pointing to a major feeder structure. DT

    Jul 20, 2023 20:25 AM

    30 minute /ES….this is the second abc down on 30 minute….if the ABCD down expands beyond 1:1 it says weakness is beginning in the index….Key moment…it does not mean we cannot do a retest of yesterday high price…imho

    Jul 20, 2023 20:07 AM

    1 minute /ES…IF sellers are in control now, then the .618 retracement of the 30 minute C to D leg down ‘will’ be resistance….period/end of story….glta

    Jul 20, 2023 20:11 AM

    Video: Silver’s Intriguing Setup & Potential Upside Target

    By Jordan Roy-Byrne CMT, MFTA • The Daily Gold – July 17, 2023

    Jul 20, 2023 20:38 AM

    30 minute /ES…3rd ABCD down is in play now….glta

    Jul 20, 2023 20:45 AM

    Speaking of 30 mins above, I have a stock I am trying to take some profits in and don’t have to. So since the bots are running the price down as I attempt to sell, I am running the price up as they don’t buy. Every 30 minutes, I raise it again. I am over the Ask now, but will continue later today as there are better things to do right now. I am thinking some Bot will blow up in the JPM trading room getting shredded wire threads all over some humans looking at porno. I am trying to get deeper into the Wall Street theme.

    Jul 20, 2023 20:18 AM

    once xlf and kre types give it up…it is on!…oops here goes xlf …a large sell dumped…glta