Precious Metals Video Update: Gold Breakout & False Signals from GDXJ? - Jordan Roy-Byrne (04/18/2017)
Gold broke key resistance at $1262 on the gold price chart (the 200-day moving average) as well as important resistance at $1278. It could reach $1300-$1310 on this move. Meanwhile, the GDXJ ETF for junior mining stocks has grown too big and Bloomberg highlighted this issue which may be causing artificial and not fundamental weakness. Lastly, Gold is showing increasing relative strength. Video by Jordan Roy-Byrne of www.thedailygold.com.
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