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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: Very Important Macro Development for Gold...
Published: Thu, 07/06/23
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Over the last week I reached an "AHA" moment for Gold.
I have assumed the market would succumb to a deflationary steepening of the yield curve (bonds surge, stock market rolls over, recession etc). And that still could occur, eventually. But for now, the message of the market and what could transpire over the second half of the year (and maybe into Q1 2024) is different. I have two pieces of content that cover this.... Here is my interview with Gary Tanashian, editor and publisher of Notes From the Rabbit Hole. Gary is one of the absolute best Gold analysts. Interview: Stock Rally Could Morph Into Commodity Rally In this video I attempt to describe what is going in the markets, why Gold held above $1900 and what could transpire over the coming months. Video: Potential New Macro Development for Gold Rick Rule is hosting his annual resource conference in Boca Raton in July. One can attend physically or even virtually. Click Here for all the Information on the Conference (Note, if you attend I receive a small commission) -------------------------------------------------------------------------------------------
Here is a daily line chart of Silver with its 400-day moving average. The arrows show the average providing support or resistance.
Silver just rebounded from the 400-dma. If it can close above $26 (red line resistance)....  -------------------------------------------------------------------------------------------  Nevada King Gold (sponsor of this free newsletter) discovered oxide mineralization at its Atlanta Mine Gold project in Nevada and has reported numerous, excellent drill hits. They have drilled high-grades over some lengthy widths. Nevada is the top mining jurisdiction in the world. There have been quite a few takeovers there in recent years and oxide projects are quite valuable. The company has increased from one drill rig to three, which will speed up the pace of exploration. Also, results are pending from 81 holes for 13,373 meters. ------------------------------------------------------------------------------------------- In TheDailyGold Premium... In TDG #836 we made a case for a short-term rally in the miners. That has come to fruition, but with a chance it could be more than a rally. In TDG #837, a 34-page update we covered quite a bit. Most notably, we wrote a few pages on the potential emerging macro-market backdrop and what it could mean for Gold & Silver. We added a company to our watch list and wrote about a few companies on our watch list. One company has a market cap under $100 Million, but a project with nearly 5M oz Au and growing. If Gold breaks $2100, this is a project that could end up with a $1.5 Billion NAV. Management is elite. In addition, we wrote about another company that has 10-bagger potential if they can develop and build their mine successfully and Gold goes into a bull market. -------------------------------------------------------------------------------------------
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