Jordan Roy-Byrne - Gold vs Silver Charts, Not All Stocks Are Benefiting From Higher Metals Prices
Jordan Roy-Byrne, CMT, MFTA, Editor of The Daily Gold joins us to compare the charts of gold vs silver and discuss why stock picking is critical in this market.
Recently, gold saw a drop to $2,350 per ounce while silver dropped to around $27.50 per ounce. However, both metals have started rebounding. He emphasizes that gold appears to be at a significant breakout, which traditionally would lift silver along with it, but the technical damage in silver's chart is concerning. Jordan delves deeper into the technical aspects and future scenarios, including the potential impact of Fed rate cuts anticipated in September and how that could bolster gold and silver prices. Despite the bearish outlook for silver, Jordan discusses his cautious optimism for the sector, highlighting that the underlying economic conditions could trigger a recovery in silver prices if the Fed initiates more rate cuts.
We also touch on the performance of gold and silver mining stocks, through GDX. Jordan further outlines his investment strategy focused on identifying quality companies that offer good value at current metals prices, stressing the need to differentiate between stocks that are merely cheap and those that are truly undervalued.
