Jordan Roy-Byrne: Short-Term Peak in Gold
Palisades Gold Radio, Released on 3/9/22
Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to review the potential for a short-term corrective pullback in the precious metals, within a much larger very bullish pattern that is underway. We start of by getting some support and resistance levels to note in gold, but then Jordan outlines that within the handle, of the larger decade long cup and handle pattern, that there is a smaller cup and handle pattern developing.
Despite some short-term consolidation of the recent move higher, he doesn't see anything, barring a breach below $1900 or $1920, that would signal much downside left in the sector. We move on to discuss Jordan's outlook for gold to make it to $4000 by 2025, and what that would mean for the silver price, including a scenario where it could even make it to $100 per ounce.
Next we looked at how the precious metals have underperformed many other commodities that have been ripping higher due to inflationary pressures and the geopolitical tension in Ukraine. Jordan highlights different potential paths forward for gold and silver if higher inflation and negative real rates are persistent, and how the 2 metals may react to that scenario. However, he also points out an area of concern that with the Fed hiking rates, as the yield curve has now flattened and nearly inverted, that this could induce a recession in the next year, which would hurt commodities and have gold outperforming silver.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.
Jordan Roy-Byrne: Short-Term Peak in Gold added by Herman James on 03/09/2022View all posts by Herman James ?+'