Strong March Close in Gold Would Drive Silver, Gold Stocks

www.investing.com/analysis/strong-march-close-in-gold-would-drive-silver-gold-stocks-200636302

By Jordan Roy-Byrne, CMT | Mar 16, 2023 01:43AM ET

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Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to share his technical and macro outlook for gold, silver, and the PM mining stocks now that we’ve seen a bump in the precious metals sector on the back of the recent banking concerns continuing to roil markets. One of the key takeaways Jordan has noted is that gold is getting very close to making new highs versus foreign currencies and is gaining traction versus the S&P 500 and general equities.

Those two factors usually have preceded a rise in US dollar terms and a breakout to new highs there as well. The other key technical factor to consider is the $1950 area of monthly resistance as we close up March and also the quarter. A meaningful close above that level would be a positive technical factor for the whole sector.

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Strong March Close in Gold Would Drive Silver, Gold Stocks

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