Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to share his technical and fundamental outlooks for gold, silver, GDX (NYSE:GDX), GDXJ, interest rates, and the general equity markets. We start off looking at the charts and some of the key technical support levels in the precious metals sector, and the contrast between the more bearish-looking shorter-duration charts, versus the longer-duration quarterly charts as we get ready to wrap up Q3 and head into Q4.
Next, he outlines some of the key macroeconomic signals in the interest rate markets and steeping yield curve, that will eventually top out and reverse down as something breaks in the economy and the concern of a recession reasserts itself with investors and the general markets roll over. We wrap up by reviewing the recent trend of steadily increasing inflation that we’ve seen in the last few months. This correlates with the higher oil and energy prices, and that is typically a late-cycle indicator before things roll back over into a disinflationary economic contraction.