Jordan Roy-Byrne: A Strong Dollar is Good for Gold
Collin welcomes Jordan Roy-Byrne back to the program. Jordan is a regular contributor to Palisade Radio and is the editor and publisher of TheDailyGold.com.
Jordan feels that the correction in GDX is close to being over. Top to bottom GDX has corrected by 17% over the past month, which is typical and healthy.
Gold is gaining relative strength compared to the S&P and silver and will likely hold up at these levels. It’s building a tight consolidation that will eventually give way to a much higher move.
Jordan can’t see anything in the markets currently that would be negative for gold.
Silver is still setting up for a move to $21. Once that target is reached, there is little in the way of resistance until $27.
Time Stamp References:
0:40 – Recent correction in GDX is almost over.
6:00 – GDX.J performance and overcoming resistance.
10:00 – Gold’s bull market compared to general stocks.
14:45 – US Dollar and possible affects on gold.
Talking Points From This Episode
• The outlook for the GDX.
• Gold is gaining relative strength.
• GDX.J is in a very healthy cycle.
• The US Dollar index could go in either way.
Jordan Roy-Byrne, CMT, MFTA is the editor and publisher of TheDailyGold.com and TheDailyGold Premium, a premium publication that emphasizes market timing and stock selection for precious metals investors. He is a Chartered Market Technician and Master of Financial Technical Analysis. His master’s thesis, which earned him the MFTA designation, was published in the International Federation of Technical Analysis Journal. Currently, no other technical analyst covering precious metals possesses the MFTA designation.
He earned a degree in General Studies from the University of Washington with a concentration in Internal Economic Development. He is also the author of several books, including “The Coming New Bull Market in Gold,” which is available for free on his website.