Jordan Roy-Byrne CMT, MFTA

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Gold & Silver Stocks Begin Oversold Bounce

The bottoming process for gold and silver shares has been arduous as they’ve oscillated back and forth for almost a year. We noted a month ago that the failed breakout in March was strong evidence that an interim top was in place. Heading into this week it looked like the miners would fall further before … Continue reading

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Silver COT Charts

Here are four charts that breakdown the Silver COT. Data is a week old so keep that in mind. First, here is the general COT. The black is the net speculative position (long) as a percentage of open interest. It has declined materially over the past few weeks. Next is open interest. Interestingly, unlike Gold … Continue reading

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More Weakness Ahead for Precious Metals

The Fed minutes were dovish and this helped push Gold above $1310 to $1320. However, the miners, which usually lead the metals did little to confirm the rise. In fact, the miners have been relatively weak in recent days and had a bearish reversal on Thursday. Their rebound from an oversold condition has petered out. … Continue reading

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Gold’s Open Interest Hits 5-Year Low

The most recent COT data had one important development. Open interest plunged to a 5-year low. It has been declining steadily for the past three years. Gold probably won’t rebound in earnest until its open interest breaks its downtrend. The decline in open interest signals less interest in Gold. This was one of several COT-related … Continue reading

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An Update on Gold

Gold priced in foreign currencies and Gold vs. the S&P 500 are two charts we should be following….

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A Golden Opportunity Coming in Silver

Silver has been in a bear market for almost three years and the recent lack of strength suggests the metal could be headed for new lows. New lows are always bearish until the last one. Our technical work suggests that we should watch for a final low and end to the bear market in the … Continue reading

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