Jordan Roy-Byrne - Gold Will Go Higher Then Even Higher
Summary
The recent pullback in gold and silver prices should not concern precious metals investors, according to renowned technical analyst Jordan Roy-Byrne. In a captivating interview on Silver Bullion TV, Roy-Byrne dissects the short-term volatility, highlighting key support levels and the historical significance of the 50-day moving average in gold's cyclical bull markets.
Despite the current correction, Roy-Byrne exudes confidence in gold's trajectory, asserting that the metal's remarkable breakout from a 13-year cup-and-handle pattern sets the stage for a multi-year uptrend that could propel prices to staggering heights of $5,000 or even $6,000 per ounce in the next two to three years. His analysis draws parallels with past secular bull markets, underscoring gold's potential to shatter both measured and logarithmic upside targets.
Roy-Byrne's insights extend beyond gold, offering a nuanced perspective on silver's intricate relationship with its yellow counterpart. While acknowledging silver's underperformance relative to gold during the recent rallies, he remains sanguine about the white metal's prospects, particularly if it can conclusively breach the $29-$30 resistance zone. This breakout, Roy-Byrne argues, could catalyze a period of outperformance, propelling silver toward the $40 level by year's end.
Timestamps
0:00: Gold remains bullish amid market shifts, poised for breakout.
3:57: Gold cup and handle pattern breakout indicates significant upside potential over the next decade.
7:44: Gold tends to test the 50-day moving average for support during strong upward momentum.
10:52: Factors influencing gold prices include Central Bank buying, dollarization, and bond market impact.
14:49: Inflation and potential rate cuts are driving factors behind gold price increase, with market indicators pointing towards rising inflation.
18:12: Challenges in US fiscal situation due to rising interest payments and potential need for yield curve control in a bond secular bear market.
22:03: Silver may face resistance at 32-34 levels, but recent bullish action indicates potential for further gains.
25:43: Silver price is influenced by gold, with silver trading like an option on gold driven by investment demand.
29:18: Impending economic impacts could lead to significant increases in gold and silver prices within months.
Silver Bullion TV
SBTV features interviews and analysis from experts and commentators in the precious metals industry. The channel aims to educate viewers on gold, silver, platinum, palladium and the economic/investment factors impacting these markets.
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