Jordan Roy-Byrne: This correction will not be small or brief

The Daily Gold, Released on 2/5/23

Gold and Silver closed last week with a nasty reversal to the downside. The winter rebound is over and a correction has begun. Given the scope of the reversal and potentially negative fundamentals over the next month or two (rising stock market and rising yields), the correction will not be small or brief. However, the medium term looks bullish due to the strong likelihood of the recession hitting mid-year. Look to accumulate at the end of winter or during spring.

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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