Jordan Roy-Byrne – As The PMs Pause In The Near-Term, Gold Still Projects To Over $5,000 By Late 2026
Jordan Roy-Byrne, Founder of The Daily Gold, joins us to review both his near-term and longer-term technical outlook for gold, silver, GDX, GDXJ, and SILJ. We start off noting the reversal in candles the last few days on the precious metals charts, where the momentum is loosing steam for the near-term and may need to correct and consolidate for while after quite a big surge higher the last 6 weeks. However, in the longer-term, Jordan believes that most of the upside targets for gold are going to get blown past and projects a potential upside move to over $5,000 in gold by late 2026.
We then shift over to discussing the recent leverage of the mining stocks to both gold and silver. Jordan points out that mining stocks are just like call options on the underlying metals prices, and that they perform best when the underlying metals have big breakouts higher like we just saw. This makes looking at only pricing levels for resistance on the mining charts, incomplete if not factored in with the levels of the underlying precious metals.
Jordan reiterated that he is still most animated by the quality growth-oriented gold producers, and quality developers of size, that are within 1-2 years of getting their mine built and into production. He also likes the silver optionality plays with quality ounces in the ground that could get rerated higher on rising metals prices.
.
Jordan highlighted, once again, that he sees some of the best value in the “growth-oriented gold producers.”
I completely concur and have been writing a series over on my Substack channel about the growth-oriented gold producers I follow in my own portfolio. In the last few months I’ve only outlined 6 of these companies, but since then 4 of those 6 have been involved in some of the latest M&A deals in the gold space; so clearly this is where the action is. 2 made acquisitions (Calibre and Mako) and 2 are being acquired (Argonaut and Karora).
____________________________________________________________________________
Well, it has already been a wild week once again with regards to newsflow in these companies profiled, with 4 of them (Karora, i-80 Gold, Calibre, and Equinox) having key news releases that are generating reactions – the good, the bad, and the ugly…
It inspired me to consolidate all these press releases into PART 7 of this series, and then I spend the balance of it unpacking the value proposition in Mako Mining, a sponsor company we have on the show here regularly. I wanted to share this article here with the good folks at the KER, as we’ve had all these companies on the show over the last few years… and I’ve been getting lots of questions emailed in or from direct messages about these companies recent news releases.
____________________________________________________________________________________________
Opportunities With Growth-Oriented Gold Producers – Part 7
Excelsior Prosperity – 04/10/2024
https://excelsiorprosperity.substack.com/p/opportunities-with-growth-oriented-81c
Its Wet and Wild Wednesday! It looked like the correction in physical gold and silver was just beginning but the demand to buy from foreign players in an effort to get rid of their US dollars is taking the metals higher again by the end of the day. DT
Yep, nice to see end of the day buying pressure versus selling pressure for a change.
This meme was just going around over on ceo.ca and made me smile:
https://cdn-ceo-ca.s3.amazonaws.com/1j1ekmf-Bull%20Market.jpg
Someone posted that at Guanajuato Silver’s bullion store that they also had “MAgGA” hats. 🙂
“Make Silver Great Again”
In addition to the fantastic run higher in Gold, it has been nice to see Silver and Copper also getting a boost lately.
Here’s another bullish copper article:
______________________________________________________________
Copper Prices Climb To 2024 High As Citi Calls The Start Of The Metal’s Second Bull Market This Century
Sam Meredith – CNBC – Wednesday, April 10 2024
– “Copper prices with May delivery traded at $4.323 per pound in New York as of Wednesday morning, extending gains after settling at its highest level since June 2022 in the previous session.”
– “Three-month copper prices on the London Metal Exchange traded 0.6% higher at $9,477 per metric ton.”
– “Demand for copper is widely considered a proxy for economic health.”
https://tinyurl.com/2w2fhe7h
NatGas: Overview
Update!
Gas Glut? Not for Long!
“Low prices invariably stimulate stronger demand and in this case the ambition for lower emissions helps gas demand specifically grow even more strongly.”
https://oilprice.com/Energy/Natural-Gas/Gas-Glut-Not-for-Long.html
I gave copper the “all clear” one month ago and now Citi is doing the same:
https://www.cnbc.com/2024/04/10/copper-climbs-to-2024-high-as-wall-street-banks-raise-price-forecasts.html
Eric Sprott expected to invest $ 3 million into Silver Storm Mining. SVRSF
https://www.youtube.com/watch?v=R4eaoB59gYY
Super Secular Bull ~ Jordan Roy-Byrne
Glen………….
US Treasury bonds do not have foreign buyers anymore.
The Fake Fed…. is not going to decrease interest rates, they need to attract buyers with
higher rates for sell the Treasury Bonds.
There are about $1Trillion bonds coming due each month., who buys the bonds.
Gold GOING A LOT HIGHER…..
Who wants The US dollar, The Asians only want to spend what they have left to buy precious metal. Once that’s gone you will hear the big flush as the US dollar gets re-rated as a useless paper product except for one thing. DT
DT… I have to agree…. flush the Dollar, but, hard to flush the gold… 🙂
They still have some foreign buyers. Do your research.
IPT’s initial move off its low was 43% and peaked over a month ago. The retracement that followed was 50%. The next move which peaked a few days ago was 123% and the retracement so far has been 38.2%…
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=0&mn=9&dy=0&id=p70169495520&a=1654079986
IPT has been getting a lot more volume than some of the stocks I’m watching and that is a good indicator. DT
It is heading far higher than most expect and those who can’t tell a “dreg” from a gem will never understand.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=5&mn=0&dy=0&id=p77207215304&a=1652191881
Gold in Breakout Mode. It Could Hit $5000 in 2026
By Jordan Roy-Byrne CMT, MFTA • The Daily Gold – April 03, 2024
https://thedailygold.com/gold-in-breakout-mode-it-could-hit-5000-in-2026/