The Daily Gold, Released on 6/2/23

The oversold bounce in precious metals reversed course quickly on Friday amid the strong jobs report. Gold was hit the hardest while Silver and the miners declined less than Gold. The question is if this news carries into next week and causes more of a decline in precious metals (which were short-term oversold three days ago) or if it fades quickly and the oversold bounce continues.

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.

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