Precious Metals Video Update: Time for Gold Stocks & Silver to Lead
Gold is approaching a strong technical target of $1700 while GDX is on the cusp of a massive breakout with Silver and GDXJ a little bit behind. This is what we have been waiting for as this market is set up for some fantastic gains.
Talking Points From This Update
• Monthly and quarterly charts are looking bullish.
• Gold vs foreign currencies.
• Gold to S&P ratio needs to overcome resistance.
• GDX has a bullish pattern.
Jordan Roy-Byrne, CMT, MFTA is a Chartered Market Technician and Master of Financial Technical Analysis who is a member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication that emphasizes market timing and stock selection for precious metals investors.
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