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Major moving averages and Fibonnaci retracements are filling into create significant support for Gold at $1800. If Gold holds this level over the next few months then it keeps the 2019 playbook alive. In that scenario, Gold can breakout in 2023. However, in the scenario that Gold falls below $1800, then it would take more … Continue reading
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Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to discuss his technical outlook on the gold, silver, and precious metals mining stocks, and reviews the rationale and challenges with some technical theses that we see regarding silver being in a bull flag or GDX being in an inverse head and shoulders pattern. … Continue reading
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The strength in the stock market and recent jobs report augur for higher yields in the short-term. The 2-year yield rebounded from support at 4.00%. This could lead to short-term expectations of a tighter Federal Reserve and no expectations of rate cuts this year. It’s short-term negative for Gold. The major driver for Gold continues … Continue reading
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Although it looks like it, Silver is not in a cup and handle pattern formation because it has corrected too much. That does not preclude the chart looking super bullish when Silver surpasses major resistance at $27. Gold is in a cup and handle pattern and a strong one as long as it continues to … Continue reading
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Gold and Silver closed last week with a nasty reversal to the downside. The winter rebound is over and a correction has begun. Click Here to Learn About TheDailyGold Premium
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Click Here to Learn About TheDailyGold Premium
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The levels for Gold remain the same. There is resistance at $1950, $1960 and a potential pattern target measuring to $2020. Last week Gold came within cents of $1950. We are on guard for a correction and that will remain the case even if Gold reaches the $2020 target. The Fed figures to talk tough … Continue reading
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Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to discuss the set up in gold and silver compared to US markets. We also look to silver’s recent under performance to gold over the past 5 weeks. Finally we have Jordan look at a 20 year chart of gold and share what he … Continue reading
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This is one of the best internal indicators for the Gold market as Gold against the S&P 500 is often a leading indicator for Gold and the rest of the precious metals sector. Both ratios (Gold against the S&P 500 and Silver against the S&P 500) face two important resistance levels. Click Here to Learn … Continue reading
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Gold inched higher last week past resistance at $1900-$1920. The next resistance is $1950-$1960. Silver continues to lag and probably needs Gold to surpass $1960 if it has a chance to surpass $24.50 and test resistance at $26. The gold stocks and silver stocks (GDX, GDXJ, SILJ) could have another 4% upside if Gold reaches … Continue reading
