Jordan Roy-Byrne CMT, MFTA

Vince Lanci of GoldFix on Substack and Echo Bay Futures joins us to recap recent developments in the Gold market.

This week, I published a video update evaluating whether gold stocks are cheap or undervalued. There is a difference. But I digress.   After publishing the video and reviewing the comments, my biggest takeaway was that gold stocks are hated.    After a nearly three-and-a-half-year-long bear market, one can imagine how investors and speculators feel … Continue reading

Interest Payments on the Debt Hit $1 Trillion. As a percentage of federal income and federal spending, it is closing in on all-time highs. This could matter for Gold and markets when it exceeds the 1940s and 1990s peaks or when the bond market takes another leg lower and the 10-year yield hits or surpasses … Continue reading

Gold Miners are definitely cheap as multiple valuation metrics are at historically low levels. When viewing a history of valuations going back as far as the 1980s we find current valuations indicating a secular bear market. Valuation indicators last peaked around 2003-2006. There is a difference between price and value. Cheap refers to price and … Continue reading

It was another bad week for precious metals as Gold declined 1%, Silver over 2% and the miners lost over 6%. The S&P 500 closed the week at a new record high. The Gold to S&P 500 ratio closed the week at a new 17-month low. Click Here to Learn About TheDailyGold Premium

I have been writing about Gold’s super bullish cup and handle pattern since 2021.   The pattern is super bullish because the handle consolidation of the past few years has transpired above the 38% retracement (around $1675/oz), and the peaks are above the peak from 2011 at the start of the pattern.    The … Continue reading

A steepening in the yield curve to above 0 and in a vertical fashion indicates an imminent recession. The yield curve has steepened to -0.17 and flashing yellow. If the steepening continues and accelerates, then it would be code red and super bullish for Gold.

Gold enters the week at $2052. It has support at $2020 and $2000. Gold is trading at the midpoint of its range and has already tested resistance at $2100. Meanwhile, Silver has not come close to testing its previous high and is trading at the low end of its range.

There is no cup and handle pattern in Silver (although there is super bullish potential if it approaches $50), nor is there a bull flag and we have to stop drawing diagonal resistance from the 2011 peak.