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This Past Week in Gold

SPDR Gold Trust Shares Chart
GLD - on sell signal.


iShares Silver Trust Chart
SLV - new buy signal.


Market Vectors Gold Miners Chart
GDX - on sell signal.


XGD.TO Chart
XGD.TO - on sell signal.


Central Fund of Canada Chart
CEF - new buy signal.


SPDR Gold Trust Shares Chart 2
The decline in gold prices this year has been classically bearish. Each sharp drop is followed by a consolidation before another sharp drop, thus trapping buyers who have been trying to pick a bottom. This pattern has to change before I can become a confident buyer.

Summary
Long term - on major sell signal since Mar 2012.
Short term - on mixed signals.
Gold sector cycle - continues to whipsaw.

 

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