Jordan Roy-Byrne: Gold and Silver Markets Unsettled - Palisade Radio (05/05/2017)
Jordan discusses the gold market, he expects some further losses in the stocks, as they will retest their December lows. Gold has support at $1220 and $1150, the larger issue is that this bull market won’t begin in earnest until the stock markets peak and the economy rolls over. We need to watch for weaker than expected economic data. He thinks 2018 will be a better year than 2017, the next bottom might be this fall.
If gold continues to fall than stocks will be hit, however it looks like miners currently have it priced in. There may be a twenty percent downside in the juniors. If the stock market goes into blow-off territory, that would be more bearish for gold than for gold stocks. In that scenario gold stocks could hold up really well.
He sees lower prices for silver, it’s disheartening because it has reached $18.50 several times, looking at the price action he sees a risk that it will test $16. Based on three previous silver bear markets, it should begin rising aggressively next year, and move above resistance at $21 towards $26.
The key support target for gold is around $1200, and $1150 on the monthly charts. It’s good that it has rallied up to $1297. It’s being held up a bit by geopolitical factors, market fundamentals have peaked in terms of real rates and inflation and commodity prices as a whole have leveled off or are declining. He thinks the Fed will likely hike rates and that it’s currently priced in.
Most Recent Posts
- Salient Features of Bull Market Peaks - John Hussman (07/24/2017)
- Syria Gas Attack and Russian Election Hacking...Debunking Fake News With Scott Ritter - Ron Paul Institute (07/24/2017)
- Overbought in an uptrend, but will it matter? - Mike Saul (07/24/2017)
- Janet Yellen's Fed Policy Will Move Gold - Mike Swanson (07/24/2017)
- Gold/Silver Shorts Extreme - Adam Hamilton (07/21/2017)
- The Death Spiral of Financialization - Charles Hugh Smith (07/21/2017)
- Why Post 2000 Movies Are So Bad - Bog Ager (07/21/2017)
- Russiagate: Kooky Characters, Cold War Liberals - The Real News (07/21/2017)
- What Some Stocks Are Doing Now is Crazy - Mike Swanson (07/20/2017)
- Strength of US Equity Charge a Surprise - Mike Swanson (07/20/2017)
Grab This Free Report: Our Top Mining Stock Pick
This free special WSW report is devoted to IDM Mining and why it is currently our top mining stock pick.
Grab it and get our next gold price entry point. Do not think about buying any other gold stocks before you read this report. To get this report click here