is with us today to share his updated targets and times lines for the precious metals. We start with gold and GDX then move to silver and SIL.
While gold and silver have bounced off support they are not screaming higher and drawing a lot of attention. However if we look at silver stocks, both large and small, plus the large gold stocks they are telling a very different story. For the first time in many years silver stocks are far outperforming and could very well lead the overall PM sector higher. Dave Erlfe joins me to share his thoughts on what’s coming for metals prices and the stocks.
Dave Erfle joins me today to chat about the gold and silver charts. With gold holding $1,450 and GDX holding 26 this could be a good region for a bounce. Plus look at the silver stocks, these are the strongest of the PM sector. Dave also shares some tips on looking at the stock prices to determine which are the best options to buy when gold and silver turn.
This is shorter interview with Doc outlining the disappointing close in the PM stocks compared to how gold and silver performed. While ETFs like GDX and SIL still closed up, it was by less than half a percent. Not a good sign for the overall bullish argument. We also look at the oil sector which was hit hard by selling and is setting up for a new slightly lower trading range.
This chart is from our good friend Chris Kimble over at Kimble Charting Solutions. He is outlining a key level that the silver miners need to bounce from or else we could be seeing lower levels and possibly a test of the 2015/2016 lows.
Silver Miners (SIL) have lost over 50% since the highs back in 2016. Is this large of a decline enough to present a buying opportunity?
No doubt the multi-year trend for SIL remains down at this time. The long-term decline and the decline over the past few months has it testing last years lows again at (1).
While testing the lows it finds itself at the apex of a falling wedge pattern at (1). Is a “Double Bottom”being attempted by SIL at the 2018 lows? In my humble opinion, it is too soon to tell, yet possible.
What would it take to suggest that a short-term counter-trend rally is taking shape? The first step would be to break above the top of the falling wedge pattern.
What would it take to send a renewed bearish message from SIL? A support failure at (1)!
What SIL does in the next couple of weeks could send an important message to Silver and Gold Miners (GDX)!!!
I chatted with Craig Hemke today about the overall set up of the precious metals and the underlying stocks. We start with the Comex contracts and a stat that Craig shared on Twitter last night. Silver contracts on the Comex are now above 50% of the total gold contracts. This is an anomaly as usually there are more than double the amount of gold contracts. We also touch on the selloff in the gold and silver mining shares when the metal prices have been stable.
Jordan Roy-Byrne, Editor Of The Daily Gold joins me to discuss the gold charts as well as the underlying stocks. We look at the charts and share our thoughts on where they could move and what can help drive these moves.
Jordan Roy-Byrne, Founder of The Daily Gold looks into the precious metals sector in terms of gold and silver prices as well as the stock ETFs. Things are looking much better for the precious metals complex heading into 2019 but it’s not a clear cut bull market just yet. There are some key other markets to watch that could further push for the move into PMs.
Jordan Roy-Byrne, Founder of The Daily Gold addresses what Fed policy would actually drive metals higher. As much talk as there is of a pause coming from the Fed after next week’s rate hike, a simple pause might not be enough to drive a full on bull market for the metals. We also look at how GDX, GDXJ, and SIL have been moving off the recent lows.