Jordan Roy-Byrne: Probabilities Favors Higher Precious Metals Prices
The Korelin Economics Report, Released on 4/12/23
Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to review the overall bullish posture that the precious metals sector has been in for some time; and while overbought, he feels the balance of probabilities is for higher metals prices before a more meaningful correction in the sector. Jordan is encouraged to see silver and the PM mining stocks outperforming gold recently, another point he reiterated was the positive breadth thrusts across the the advance/decline line and rate of change signals he follows, which is constructive for the whole sector. As for concerns about the overbought conditions, he points out that in a true bull market that conditions can stay overbought longer than expected, and that corrective moves, like the 8% move down in gold that we saw in February/early March are more shallow and shorter than many are used to. We wrap up with Jordan outlining that there is still plenty more room for upside appreciation in the metals and mining stocks, and that at this point in the newly developing secular bull market that buying and holding a well-selected portfolio, is more important that trying to overtrade the sector. In particular he highlights growth-oriented gold producers and silver stocks as two areas he believes will offer significant leverage to rising metals prices.
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: Probabilities Favors Higher Precious Metals Prices added by Herman James on 04/13/2023View all posts by Herman James ?+'