Jordan Roy-Byrne – Gold Bull Market Correction Analogs, 2-Year Yields As Leading Indicators Of Fed Policy, And How High Oil Prices Relate To Gold Mining Stocks Bottoming
Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to review prior analogs in gold during bull market corrections, how the 2-year treasuries yield is a leading indicator of the Fed funds rate and monetary policy, and how peaks in oil pricing often coincide with lows in the precious metals mining stocks. It’s a wide ranging discussion where Jordan provides some key technical levels to watch along the way, and why he feels these signals on converging on a point this Fall, possibly near September, were we should see the energy sector, general markets, Fed policy, and bond yields all set up in a way that makes a significant rally in gold and the mining stocks more probable.
Click here to visit The Daily Gold website and keep up to date on Jordan’s technical outlook.
Video: Watch This Indicator for Gold
Jordan Roy-Byrne CMT, MFTA – The Daily Gold June 06, 2022
“A peak and decline in the 2-year yield, which would precede the next Fed rate cut, should be a major catalyst for Gold. Over the next few weeks, stable stock prices and a further rise in Oil could lead to expectations of a tighter Fed. However, over the months ahead, if fears of a recession replace fears of inflation, the Fed could do a quick 180.”
https://thedailygold.com/video-watch-this-indicator-for-gold/
Video: Oil Analysis & How It Will Impact Gold Miners
Jordan Roy-Byrne CMT, MFTA – The Daily Gold June 01, 2022
“Over the past 20 years there have been two major points at which a peak in the Oil price corresponded to a significant low in the gold mining stocks.”
“Oil could be breaking out here and if it can push above $115, it has a clear path to $145-$150, the all time high. Oil’s term structure suggests it’s likely to make a peak over the coming months. Oil peaking and correcting could have significant implications for inflation expectations and Fed policy.”
https://thedailygold.com/video-oil-analysis-how-it-will-impact-gold-miners/
Swing Analysis: https://tinyurl.com/mt2berap
Oil Rising. Streaked at Lunchtime.
NatGas didn’t. Barfed.
Friday 08:30.
You can hear a pin drop on this site. Remarkable.
We’ll soon know if the velcro holds or let’s go for gold around this 1850 level.
Maybe EX would wrap a story around this fact?…What effect on free market price?…Repression of gold or liberation of gold price…Or is this a meaningless neutral effort by the cartel?…Any assist is welcome…
Larry thought cross my mind, that the sticky action around this 1850 level while silver and the producers big and small deteriorate is nothing more than hook. Hope not as I’m down about 15% on my half positon in an assortment of these. Bought when gold was scrapping just above1800.
Will wait it out.
Jonsyl..My day GDX has all sorts of support at 30.4 down to 29.29…basically that 5/12/22 swing low looks to want a retest…hope it will be light volume and reverses hard…and that is it…boom…..or if the reversal happens first in the morning one needs to pull trigger before volume is a clue..either way it could be important weekly type of low/ or not……glta
Larry, could be pre-market tomorrow.
Core Inflation report 08:30.
See analysis above.
Actually that is true….very true….that is verrry true…glta
tanks for the perspective Jonsyl
We are very likely to see an important low before next Wednesday.
Another dollar down looks extremely likely to me…
https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=2&mn=0&dy=0&id=p82623180950&a=841993788
Worst case for SILJ is probably a drop to around 10.55-.60…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=5&dy=0&id=p76956768587&a=1179556002
Agree Matthew re SILJ…240 minute chart shows the 70% retrace of recent SH corresponds w the retest of that 5/13 top of high volume breakout bar…glta…that would be a normal setup for a pop from which you could safely protect yourself during the attempt higher…
For anyone following the fert plays…..nice player joining the DAN team
https://ceo.ca/@newswire/arianne-phosphate-appoints-michael-gentile-cfa-as
Vix not showing the brewing crisis with conventional market over past month and a half that the pundits are proclaiming.
Interesting interview discussing insider buying in mining stocks….equinox osisko and orezone
https://www.bnnbloomberg.ca/video/there-s-a-rise-of-insider-buying-of-gold-companies-by-mining-veterans-ink-research~2265611
IPT:SILJ filled its June 3rd gap today and has painted what might prove to be a bull flag.
https://stockcharts.com/h-sc/ui?s=IPT.V%3ASILJ&p=D&yr=0&mn=8&dy=11&id=p12050734489&a=1183580160
I see the 4.40s coming for HL…
https://stockcharts.com/h-sc/ui?s=HL&p=D&yr=0&mn=9&dy=0&id=p93798483433&a=1174402329
UUP (USD) is probably going at least 1% higher…
https://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=1&mn=3&dy=0&id=p80193139864
Not so fast…Nem day shows an unconfirmed ABC down w target at 58.35….But not as high a probability event as a confirmed ABC down….always sumpin…lmao
I’m watching the May 18th low close at 63.36 and then pivot support at 62.39.
Downside targets, ABC or otherwise, are often not met when the backdrop turns
bullish so the next few days will be interesting.
https://stockcharts.com/h-sc/ui?s=NEM&p=D&yr=1&mn=0&dy=0&id=p01892699582
GDX:GLD is following my annotations of a week ago:
https://stockcharts.com/h-sc/ui?s=GDX%3AGLD&p=D&yr=1&mn=5&dy=0&id=p18420625772&a=1098305492
Updated Gold Bull Analogs
Jordan Roy-Byrne CMT, MFTA – The Daily Gold June 07, 2022
https://thedailygold.com/updated-gold-bull-analogs/