Monday, June 19, 2017

Jojo is incredibly bearish gold


Jordan Roy-Byrne - man oh man so incredibly bearish gold. As in a retest of the Dec 2016 lows bearish:

Both the technicals and fundamentals argue there is increasing downside risk in the precious metals sector. Real interest rates are rising and as the rate of inflation continues to fall, Gold will come under pressure even if nominal rates don’t rise. From a bird’s eye view, the price action in Gold and Silver so far this year is corrective, meaning it is a correction of the sharp downtrend seen in the second half of 2016. There is a strong risk of that downtrend reasserting itself and metals ultimately retesting their bear market lows before the end of this year. With respect to the gold stocks, the initial downside target is the December 2016 lows which could be reached in the next month.

Then again, I remember watching him call for $3000 gold (upon a massive repudiation of debt) a few years ago. So....


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