Jordan Roy-Byrne – Gold’s Breakout, Cup And Handle Upside Targets Up To $3,100
Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to share his outlook on gold’s price breakout. He outlines a 13 year cup and handle pattern and a few other cup and handle patterns in the shorter term, all pointing to measured upside targets as high as $3,000 and even $4,000.
We also get Jordan’s outlook on silver, as a confirmation indicator for gold’s move and as a barometer for the gold stocks.
On to inter-market analysis, where we are seeing gold and the US markets move to all time highs. Looking back in history, Jordan thinks this is a bad omen for the S&P.
One more time since the link didn’t last long…
https://stockcharts.com/h-sc/ui?s=%24USD%3A%24GOLD&p=Q&yr=45&mn=11&dy=0&id=t7502052481c&a=1574406000&r=1709832843678&cmd=print
New York Community Bank in serious trouble probably due to too many “uninsured assets”. Board Member Steve Mnuchin double talks on CNBC where the good and bad assets are going. Sounds like bad assets went on Fed balance sheet (your debt). Some names always near by like a vulture.
zerohedge…. had a good article , yesterday on NYCB…..
Hi Jerry, tomorrow will be to steal your thunder, “Freaky Friday” it looks like a Bank Failure will be announced and if it isn’t FF, it will MM, or “Mad Monday”. I just thought that someone has to beat you at your own game. I warn you I have been reading reports. LOL! DT
That is OK DT…. you are just getting it warmed up…. lol….
Gold looking good………..
The shorts are getting SQUEEZED! It looks good on them. DT
The bank failures will be covered no problem… trillions are available for that!
Just for you DT………… concerning the banks…. Bobby M… interview…
The Fed may have to start looking at QE again if we get cascading defaults, CPPIB selling commercial real estate buildings for $1. A dollar is finally worth something when the debt level lowers the limbo bar. Limbo lower how low can you go! DT
I thought when they did that………… The Realtors are going to have a hell of a time , running comps on their listings… to establish value on their listed properties… . lol….
Then again.., if, the building sold for a $1… then all of Trumpster’s properties are just a $1… lol
BOTH COAST are Wack Jobs…………….
California Moves To Expand Zero-Down, Interest-Free Home Loan Program To Illegal Immigrants
BY TYLER DURDEN
THURSDAY, MAR 07, 2024 – 08:10 AM
A controversial bill that would let illegal immigrants receive the same kind of homebuyer assistance as U.S. citizens has advanced in the California state legislature, drawing criticism from those who object to granting perks to people who break the law by entering the country illegally.
Good one Jerry, they will probably start handing out medals for failure and then claim that the system is sound. DT
🙂 Ditto………. Have a Great Day….
And, as an extra added attraction, an ad featuring Sleepy Joe asking for campaign donations. Ha!!!!!!!!!!!
This is gold’s 5th day above its daily Bollinger bands and is overbought so a pullback is likely to happen soon. There will be plenty of buyers when it does…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=0&id=p46926702876&a=1622269857
I punched ‘Silver’ into that chart and it looks like silver could close the gap on gold.
Gold:Silver:
Here’s the daily version. Gold is going the right direction vs silver but not yet convincingly. That will change within a few weeks…
https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SILVER&p=D&b=5&g=0&id=p05792482804
Michael Oliver says if gold closes the week above 2118 it won’t take too long to reach 2600, and he thinks the miners will go up 3 times as much as gold.
I agree with him. The next intermediate decline for stocks will be anything but business as usual. Therefore, the next intermediate rise in the gold space will also be anything but business as usual.
EXK looks great vs AAPL and offers a glimpse of things to come for the sector vs the stock market.
https://stockcharts.com/h-sc/ui?s=EXK%3AAAPL&p=D&yr=1&mn=1&dy=0&id=p25391149104&a=1622858452
The USD is not looking good.
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=7&mn=9&dy=0&id=p56738138631&a=1107856967
Silver doesn’t need to rise much vs gold to kick the action into high gear.
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=3&dy=0&id=p49176800378&a=1623958549
Crash time cometh for the USD vs gold. Keep this chart in mind when the quarter ends in 3 weeks:
https://stockcharts.com/h-sc/ui?s=%24USD%3A%24GOLD&p=Q&yr=45&mn=11&dy=0&id=t2363443108c&a=1574406000&r=1709799858245&cmd=print