The Daily Gold, Released on 2/21/23
Classic economic indicators such as the Leading Economic Indicators (LEIs) and Yield Curves are making a bulletproof case of a recession. Odds favor a recession hitting in the third quarter or later. The average of Gold’s performance around recessions shows an average move of about 20%. This starts from a low one to two months before the recession hits and continues after the first four months of the recession. Gold could drop to $1725 or even $1700 and remain in position to test its all-time high by year end.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.