Jordan Roy-Byrne – Focus On Buying Value In PM Stocks With Gold Above $2300 and Silver Breaking Above $27

Jordan Roy-Byrne, Founder of The Daily Gold, joins us to provide some precious metals portfolio management tips, with gold breaking out above $2300 and silver finally breaking out above $27 and clearing the $26 resistance zone.  He reiterates that if the larger cup & handle pattern on the gold chart projects to near $3,000, and the log target even higher to over $4,000, then the risk in the medium to longer-term is investors not being properly positioned for the ride higher.


We discuss shifting to a bull market playbook, with regards to sector pullbacks being more shallow and swifter and chart indicators staying more overbought, than in a bear market.  We discuss why this is the time to be fully positioned, or getting positioned on corrective moves, in the quality growth-oriented gold producers, and quality developers that are within 1-2 years of getting their mine built and into production.  He also likes the silver optionality plays with ounces in the ground that could get rerated higher on rising metals prices. 




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

    Apr 03, 2024 03:28 PM

    SILJ has more than doubled versus LIT over the last 18 months and now it has a giant H&S bottom in play…

    Apr 03, 2024 03:28 PM

    Looking good…………… 2300 and 27…….
    something big is happening… 🙂

    Apr 03, 2024 03:58 PM

    Where’s Waldo, er, Joe, these days?

      Apr 04, 2024 04:21 AM

      Good question Michael! Haha! 🙂

      I posed the same one yesterday on the Matt Badiali blog. It was easy to see he was just trolling the site and only came around during extreme low periods to kick investors while they were down. I found him to be a fantastic contrarian indicator though, and useful in that sense. We had pointed out that he marked the exact low and sector turns (nearly to the day) about 3-4 times over the last 2 years, screaming at people to go to all cash right before the PM sector would rally up double-digits and some stocks went up triple digits. #DoTheOpposite.


      23 hours ago

      Rapid Fire! I love it that the sector is finally starting to wake up.

      Hey, where is our resident bear “Ole’ Joe” at lately. He’s been quiet as a church mouse with the metals breaking out and now the mining stocks starting to move. 😉

        Apr 04, 2024 04:26 AM

        Another site troll of the past that I was just thinking about yesterday was Spanky. He came on here repeatedly and suggested that Silver would never get above $18 again in his lifetime, or “wake me up if silver ever gets over $18 again… not likely though…” Haha!

        Those types of bear bashers are hilarious, while showing the emotional extremes and lack of logic that some investors fall into during negative sentiment periods. Those types of folks come and they go, and are illustrative of why so few investors are able to buy low, or sell high.

          Apr 04, 2024 04:30 AM

          I keep waiting for cash man Jonsyl to appear soon claiming to have bought the bottom on IPT. 🤣🤣🤣

      Apr 04, 2024 04:43 AM

      Go to Yahoo Finance. Pull up FFMGF, First Mining Gold. Go into View All Posts. There’s Joe.

        Apr 04, 2024 04:29 AM

        I went to check it out Buzz, but don’t think it was the same “Joe”. Sure that poster was repeatedly bearish on First Mining, but was much more articulate, laid out an actual thesis, wasn’t bashing all precious metals investors, or repeating the same mantras over and over again yelling in ALL CAPS, or telling everyone to sell everything and go to cash repeatedly. That Yahoo Joe just wasn’t a fan of First Mining.

    Apr 03, 2024 03:23 PM

    As a heads up – I just put out a “Special Alert” to my Substack subscribers, on the closing prices we saw today in Silver, SILJ, GDX, GDXJ, and Gold, as well as some nice rips higher in a number of the PM stocks.


    Special Alert: Silver And The Silver Stocks Are Finally Starting To Outperform

    Excelsior Prosperity – 04/03/2024

      Apr 03, 2024 03:53 PM

      Great stuff Ex. With producers and jr. explorers all ripping higher i wonder if a look at the ‘best of the worst’ silver and gold producers would be a timely subject to revisit?

      Obviously this week throwing darts at a board covered with names of gold/silver producers while blind folded would hit nothing but winners…but it ain’t always so.

      A few years ago your list of ‘the best of the worst miners’ had maximum torque to rising metals prices. I found it very useful.

      Just a thought.


        Apr 04, 2024 04:59 AM

        Thanks blazesb – Yeah, I was actually just talking to a few folks about that concept again, and which types of stocks will have the most torque to rising prices and it isn’t always the “best in breed.” Often it is the higher cost producers, or developers that need slightly higher metals prices, as their economics get impacted so much more on a percentage basis, and that is what gives them such a rerating higher on big moves in the underlying metals.

        Case in point from Wednesday blast higher across the silver stocks, was that higher cost operating companies like Bear Creek Mining, Coeur Mining, Americas Gold & Silver, Impact Silver, Guanajuato, Endeavour Mining were up far more in percentage moves, compared to the lower cost operators like Silvercorp, Silvercrest, Fresnillo, Hochschild, or SSR Mining.

    Apr 03, 2024 03:28 PM

    I hadn’t seen this meme circulate in a while but it was back out today on the chat forums, and made me chuckle again, and shows sentiment improving once again.

    Apr 03, 2024 03:37 PM

    Powell still expects Fed to lower rates this year as inflation follows a ‘bumpy’ path down to 2%

    Jennifer Schonberger · Senior Reporter Yahoo Finance – Wed, April 3, 2024

    “Federal Reserve Chair Jay Powell doubled down Wednesday on his belief that inflation was on a ‘bumpy’ path down to 2% and that central bank officials expect to lower rates at ‘some point’ this year.”

    Apr 03, 2024 03:51 PM

    PAAS broke out to its best close since last May and did so on huge volume. It is now up 40% in 5 weeks.

    Apr 03, 2024 03:58 PM

    IPT is up 40% in the last 3 days and few if any similar silver miners have outperformed it over the last 5 weeks.

      Apr 04, 2024 04:58 AM

      Long way to go to get back to those heady days of over $1 but silver over $30 will certainly make it achievable

        Apr 04, 2024 04:19 PM

        It took just 18 weeks to go from .22 to 1.25 (469%) in 2020 and it took 27 weeks to go from .11 to 1.28 (1,063%) in 2016. The deep drawdowns are more than fine with me because it would be much more difficult to make money without them. They’ve come from weak metals prices and not “company specific” bad news so they shouldn’t be so scary to so many. The herd is full of dopes who become traumatized by any and all price declines because they look at them in isolation through their fear and ignorance filters. Likewise, they size-up junior miners all wrong in the first place and expect the impossible as a result while wrongly judging their finances and financings among many other things.
        I expect IPT and the sector in general to make those 2020 and 2016 peaks a floor this time around but of course any individual company can run into trouble so stock pickers obviously face more risk and uncertainty than those who buy the ETFs. For example, how’s the new Plomosas project doing for IPT? It could be a near term source of great strength OR great weakness.

          Apr 04, 2024 04:42 PM

          Plenty of zinc there, when that price recovers.

    Apr 03, 2024 03:00 PM

    First Majestic priced in silver is at a resistance that probably won’t last another day.

      Apr 04, 2024 04:14 AM

      Yep, I’ve given you a hat tip on a it number of times over the years, and believe it is an important concept for investors to understand, when we see rising underlying metals prices and the best of the worst start to outperform. It’s one of the concepts that had a big impact in how I invest in mining stocks during rallies, and thanks for initially pointing out the concept to us here at the KER back during the 2016 rally.

      I’ve had a hashtag #BestOfTheWorst going over at since 2016 trying to help other investors internalize the idea and demonstrate the point during different rallies of the past.

        Apr 04, 2024 04:27 AM

        Here is a post over at from 2017, where I specifically quoted what you said and gave you full credit for teaching me the concept; and still feel it is the most impactful concept you’ve ever shared, that could really help a lot of junior resource investors.

          Apr 04, 2024 04:41 PM

          Well I’ll be damned. I remember saying that now that I see it but had forgotten about it. I agree that it’s important to understanding where leverage comes from and why riskier stocks typically outperform when there’s a bull market. The concept applies to any sector.

    Apr 03, 2024 03:04 PM
    Apr 03, 2024 03:32 PM

    The weekly, monthly and quarterly charts throughout the sector are in fantastic shape and therefore are unlikely to allow a significant selloff based on the overbought daily charts anytime soon.

    Apr 04, 2024 04:01 AM
    Gold Week : Update
    Pull Back?

      Apr 04, 2024 04:14 AM

      I put this together at midnight. Whether or not a pull back has begun here, the percentages represent levels at which strongly trending Gold or Silver would turn north again. The ‘standard’ pull back is 50%, with deeper at 61.8%. Many have the ability to note this themselves. For Gold, the heavy red line (2146.39) should not be approached.

        Apr 04, 2024 04:38 AM

        Hi there BDC. Thanks for sharing the Fibonacci support levels on that chart, from your Fibonomics site.

        Yeah, as Jordan mentioned in the interview above, a snapback rally to $2,200 or $2150 is not out of the question, but there is no need to have a big washout corrective move below that (or below the $2,146.39 level you outlined) this early on in the breakout rally. There was also that prior peak at $2152 that is right around that same area. So that suggests support in the $2146 – $2152 zone.

        Personally, I could see a gold move back down in the low $2200s or may a brief breach below that for several weeks as a confirmatory backtest. Things are starting to get a bit overbought at these levels after such a scorching rally. In general though, as I mentioned to Jordan and he concurred, investors need to shift to a bull market playbook, because the pullbacks are going to be more shallow and brief moving forward, at least until we get to the $2,500 mini cup and handle extension level or possibly the $3,000+ larger cup and handle measured move higher.

          Apr 04, 2024 04:06 AM

          Howdy Ex! I’m hoping for no deeper than 2245 spot (38.2%) at this time, then with a pop a bit above the current top. This would create a sideways trading range for awhile. (NFP tomorrow.)

            Apr 04, 2024 04:09 AM

            Sounds good BDC, and I agree that the 38.2% Fib retracement would be and ideal support level.

            Thanks for sharing that level at $2245.

    Apr 04, 2024 04:04 AM

    Anyone else here positioned in Gatos Silver (GATO)? Over the last 2 years it has moved up the batting order to become my largest single portfolio position (~5%), and it has been a steady climber since 2022… even when many PM stocks were still struggling.

    While I think it may have some more upside (like all these stocks), I’m considering trimming some (maybe near $10?) from around where it first gapped down a couple years back, after they had misstated their resources, and the market had a big tantrum. Thoughts?

      Apr 04, 2024 04:16 AM

      I actually meant to post this Gatos Silver (GATO) chart, as it shows the gap down back in early 2022 off that misstated resource and market over-reaction, [which is what got my attention to start accumulating it at that point].

      Has this recent move higher essentially gone back to now fill that gap? Curious to get others technical take on it?

      >> I don’t want to bail too early on a winning trade, if there still a lot of upside, but was considering pulling some profits and rotating some funds to other stocks that are still more beaten down.

        Apr 04, 2024 04:17 AM

        An opening high above yesterday’s could make this one a MaxSat(7).
        Note the latest:

          Apr 04, 2024 04:21 AM

          Thanks BDC. Well, it’s already up again in the premarket trading $9.62 up +$0.11 (+1.16%), so maybe I’ll just take some partial profits on it to redeploy into more beat up silver stocks, and leave a core position in place to keep climbing the wall of worry…


          Apr 04, 2024 04:29 AM

          ABCD is at, or close to, a 1:1 extension.

    Apr 04, 2024 04:45 AM

    Where is Larry??????

    Apr 04, 2024 04:37 AM

    Thanks for that interview on Brixton Matthew……left me with just one question. If I remember right someone on here posted about them needing to do a financing again soon but interview has them cashed up with $19M and a $12M drill program for 2024 planned… no need right???…..and the way drill season plays out in that area no results til fall roughly???

      Apr 04, 2024 04:28 PM

      Brixton is fully funded for the year so it seems highly unlikely that they’d do a financing anytime soon. Of course it could be sooner than I expect if an early drill hole is spectacular and sends the stock flying. Then it would make sense to seize the opportunity that excitement brings. Raising the most money with the least dilution possible is the name of the game.
      I don’t know when to expect the first drill results but you could ask them: