TheDailyGold: Did Gold Stocks Bottom Yesterday...?

Published: Sat, 07/02/22

The Daily Gold
Jordan Roy-Byrne, CMT, MFTA


Saturday, July 2, 2022


Good Morning!

I don't have an answer to the question but it's worth asking.

(I will be covering in this weekends subscriber update).

In a flash update after Thursday trading I wrote that we could be 1-2 days of selling away from the bottom. In any case, the gold stocks are extremely oversold and downside potential is limited. 

Click Here to Read My Article

A few days ago I recorded a video thinking about and analyzing when the Fed would stop hiking rates. (This was before the 2-year fell below 2.90%). The market is pricing in cuts in 2023 and the Fed ending its hikes in December or February 2023. 

Click Here to Listen to My Video



Here is a chart I sent subscribers yesterday.

It shows the moves in GDXJ coming off of the most significant lows over the past ~20 years.

We could be days or weeks away from starting a real bull market which should last at least a few years.

Given Gold's potential to break above $2100 and run much higher, I think we could see something significant. Maybe a combo of 2005 & 2008 over the first 12 months? 


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We have been covering the macro closely each week. It is moving in favor of Gold and gold stocks and now gold and silver stocks are extremely oversold. This is a really good setup.

Whether the bottom was yesterday or lies ahead, it's time to put cash to work. Take a look the analog chart again. What if you had an opportunity to buy around the bottom? 

I anticipate juniors will be substantially higher in 6 months.    



Thanks for reading. I wish you all great health and prosperity in 2022 and beyond!


Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that can cause results and outcomes to differ materially from those discussed herein.