Golds Recent Decline - Jordan Roy-Byrne #5190
Jordan was unfazed by the recent decline in gold. He was looking for a pullback, although not to the extent of the recent decline. Silver had been leading but failed to breakout which was a sign of a decline. Jordan says we\u2019ve been building a bullish cup and handle pattern and it continues unabated. It\u2019s still in a super-bullish trend that will take time to build. How much longer is anyone\u2019s guess. Jordan thinks we\u2019re at least half way through this consolidation. It\u2019s very frustrating because gold didn\u2019t hold near its high. The recent decline defies comparison to other historic declines. Could this be a repeat of March 2020? Bob Hoye nailed the decline.\xa0 At least precious metals haven\u2019t been slammed like cryptos with an over 50 percent decline from recent highs. It was reminiscent of the dot com bust. Bitcoin could be dead money for several years. People are going to realize cryptos are not a replacement for precious metals. Bitcoin has performed the best when the stock market has trended much higher. Bitcoin has been lagging gold through several cycles.