The Prospector News

Jordan Roy-Byrne – “Watch These 3 Gold Indicators Now”

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Jordan Roy-Byrne – “Watch These 3 Gold Indicators Now”






Last week we wrote about the inevitable bullish fundamentals for Gold.



Recent events that followed our editorial signal that the inevitable is moving closer to imminent.



Due to bank failures, a pending hard landing, and the like, the Federal Reserve will have to cease its rate hikes and ease policy amid not moderate but relatively high inflation.



Markets may recover for a little while in response to immediate policy actions. Gold’s sudden rebound could pause.



However, we know where this is ultimately going.



In the meantime, you should watch three important indicators to get a feel for Gold’s short-term momentum and outlook.



The first is how Gold performs around resistance at $1950, which is weekly, monthly, and quarterly resistance.



If Gold can close March above $1953, it will mark the highest quarterly close ever and the highest monthly close in almost three years. It would also mark the third-highest monthly close in history.



The other two things to watch for are Gold’s performance against the stock market and Gold’s performance against foreign currencies. These two usually lead or signal future moves in the Gold price.



On Wednesday, Gold against the foreign currency basket made its second-highest close ever, while Gold against the stock market made its third-highest close in the last two years. If and when both charts surpass and hold above the red lines (arrows), Gold should be on its way to the August 2020 high.



If Gold cannot surpass $1950 and the stock market plunges, Silver and mining stocks could get hit one last time.



On the other hand, if Gold can break $1950-$2000 relatively soon, then the gold stocks and Silver will follow. They will strongly outperform when Gold breaks $2100.



I focus on finding high-quality juniors with 500% upside potential over the next few years. To learn the stocks we own and intend to buy, with at least 5x upside potential in the coming bull market, consider learning about our premium service.





Posted March 16, 2023

Share this news article


Silver Viper Closes Additional Tranche of Private Placement

Silver Viper Minerals Corp.  (TSX-V: VIPR) (OTC: VIPRF) is plea... READ MORE

March 25, 2023

G2 Goldfields Closes C$13.8 Million Bought Deal Public Offering

G2 Goldfields Inc. (TSX-V: GTWO) (OTCQX: GUYGF) is pleased to ann... READ MORE

March 25, 2023

Collective Metals Announces Closing of Non-Brokered Private Placement of Units

Collective Metals Inc. (CSE: COMT) is pleased to announce that th... READ MORE

March 24, 2023

Laramide Resources Ltd. Announces Results from the Diamond Drilling Program at its Crownpoint-Churchrock Uranium Project, New Mexico, U.S.A.

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is p... READ MORE

March 24, 2023

Marathon Gold Announces 2022 Fourth Quarter and Year-End Results

Marathon Gold Corporation (TSX: MOZ) announces its financial resu... READ MORE

March 24, 2023

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2023 The Prospector News