Jordan Roy-Byrne – The Divergence Between Gold And General Equities Signifies The Real PM Bull Market Has Begun
Jordan Roy-Byrne, CMT, MFTA, Editor of The Daily Gold, joins me to discuss the ongoing divergence between the rally in precious metals versus the corrective move in US general equity markets. This signifies that the real precious metals bull market has begun.
We review the recent rallies in gold and silver prices, as well as the precious metals equities, in relation to the S&P 500 or the 60 stocks/40 bonds portfolio. We discuss the capital rotation out of growth stocks and into gold and gold stocks, and what a secular precious metals bull market in real terms means for strength and duration of this coming move.
Wrapping up we discuss the importance of picking quality PM stocks as the key ingredient for outperformance, versus just being concerned about catching technical turns in the sector.
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We have the best developments in many years happening in gold/silver stocks vs the stock market.
https://stockcharts.com/h-sc/ui?s=%24XAU%3A%24SPX&p=M&yr=25&mn=0&dy=0&id=p00464957400&a=1863157534&r=1741828212924&cmd=print
YTD copper is beating gold and looks like it will continue to do so.
https://stockcharts.com/h-sc/ui?s=%24COPPER%3A%24GOLD&p=W&yr=5&mn=1&dy=0&id=p37000344822&a=1925326104
Copper is also breaking 13 year fork resistance vs the S&P.
https://stockcharts.com/h-sc/ui?s=%24COPPER%3A%24SPX&p=M&yr=25&mn=0&dy=0&id=p51608946915&a=1919499313&r=1741839270357&cmd=print
Who wants to bet this is an important low for the dollar? Not me!
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=7&mn=7&dy=0&id=p54465320151&a=1745667784
Silver is up 7.5 percent vs SPX since I posted this chart on the 4th:
https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24SPX&p=D&yr=1&mn=5&dy=0&id=p67286025471&a=1921953921
Be careful when gold breaks 3k it is trading too far above 200 dma and we could see a big sell off coming this summer, miners will get crushed again, control greed and take profits.
Gold at 3k is 15% above the 200 dma. It was about 18% above that dma at its October high and 21% above that dma at its April high.
Friggin’ awesome move today, depends on if it holds, rises or falls back down from here. I think the monetary element has entered the building.
… and DT is gonna win his bet… easily!
I haven’t listened yet but the title is correct; the real pm bull market has begun.
https://stockcharts.com/h-sc/ui?s=%24XAU%3A%24SPX&p=W&yr=5&mn=5&dy=0&id=p81637243134&a=1899210912