Jordan Roy-Byrne – GDX and GDXJ Looking Bad; What Turns The Tide?

September 6, 2023

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to share his thoughts on the charts for gold stock ETFs; GDX and GDXJ. He mixes in comments on the macro economic landscape and what needs to happen for investors to shift attention toward the precious metals. Overall things are still not looking good for the PM stocks and general metals prices but things can change quickly when the tide turns.




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

    Sep 06, 2023 06:32 PM

    Michael Gray – Gold: There Is Plenty Of Competition

    Soar Financially – Sept 6, 2023

    “Back in our studio in Vancouver, we are joined by analyst Michael Gray of Agentis Capital. We dive deep into the world of GOLD. We dig deep into mining trends, sentiment, and of course, success stories.”

      Sep 06, 2023 06:57 PM


      What a fantastic interview. Thanks for the link.

      Michael Gray’s approach to investing in the mining sector is unique. He seems to invest around themes (e.g., “Yukon Electrification”. … if they just had some electricity (i.e., SGD, FWZ, and The Nearbies). He also seems to have jurisdiction at the top of his checklist (e.g., certain Canadian Provinces). In addition, he seemed to be really focusing on very large deposits with potential high annual output plus very long mine life.

      But, everyone should really watch the video. Well worth the time.

    Sep 06, 2023 06:55 PM

    Mining stocks don’t usually bottom without having some kind of all out panic phase. I’m thinking we will see that in near future. Also, both GDX and GDXJ have gaps to fill. We may get Hecla trading under $3 but that maybe a wishful thinking 🙂

    Sep 06, 2023 06:58 PM

    There’s a boat load of money sitting on the sidelines to enter in to PM space. I’m thinking NATGAS will also bottom at the same time.

    Sep 06, 2023 06:24 PM

    I just looked at day charts on gold and gdx….If this low fails then another slight lower low….but then rally…..not bad at all…is this the forever 8 year hold to nirvana….not my game

    Sep 06, 2023 06:39 PM

    10:28 PM Weds…….Look at the uup….literally no volume today at the test of a top ….0.6 million vs 1.2 million…truly scary…. ….It IS set up for a top…it is also set up for a wicked island reversal type top…..Why is everyone so bearish commodities…..this is how it works….

    The reverse has occurred in gold…look at gld …no volume compared to the bar it was testing… one is left to panic sell out….I am getting optimistic…sorry boyz….Time for a singin and a dancin in the rain…..

    look at gdx it is testing 2 gaps in this same price range…both tests on much lighter volume…success

      Sep 06, 2023 06:53 PM

      Larry, too many here touting their 95% all in investment positioning, are left being bag holders following/quoting the price action of gold, which has basically been in a consolidation not far off its highs, To justify accumulating gold shares, in particular those in the penny arcade for more than the past couple years. Which with few exceptions are at multi year lows. The underperformance of underlying gold shares has and continues to be abysmal with each pop up rally in the past couple of years. Been saying for a long time until there is evidence of this underperformance changes best to hold high cash levels until there is some real price action which shows the opposite.
      Certainly not the case yet, however agreed that gold shares do look weary and oversold with low volumes, incredible disinterest, judging by the lack of posting on this form and with the financial news media. Let’s see what the next pop up looks like as to relative performance with accumulation, no rush to pile in. Those already there are mostly hurting hoping for BS, like gold backed currency by BRiC alliance, an imminent dollar collapse, collapse of western civilization, pitchforks and other technical babble, kitco pundits with their doom porn.

    Sep 07, 2023 07:19 AM

    My account been heading down and stayed down since January 2022. It was intervention by those having price setting control no matter what level of Market coverage. It is keyed off price, profit and News (all news being a take down and all sudden spikes up countered with sudden spikes down). That’s the best I can tell you without being an insider who is committing criminal acts with assistance of Regulators.

      Sep 07, 2023 07:04 AM

      I know it’s little comfort but you aren’t alone Lake with this sector and it’s lack of any performance.

    Sep 07, 2023 07:01 AM

    uup could be said to have a 3 gap up play….it would have been better if the 3rd gap was as large as the first gap….tough hold for gold…glta

    Sep 08, 2023 08:13 AM

    240 UUP…1st target is the gap bottom at .382 pullback….about 29.08…glta

    Note: This could begin the final melt up prior to collapse scenario per David Hunter…just saying…