This Past Week in Gold
GLD - on sell signal.
SLV - on sell signal.
GDX - on sell signal.
XGD.TO - on sell signal.
CEF - on sell signal.
Some folks have been watching the dollar rising sharply in disbelief during the past few weeks, which is not friendly to the metals. No surprise to us as we noted the double bottom is USD is 2011 as gold peaked at the same time.
Long term - on major sell signal since Mar 2012.
Short term - on sell signals.
Gold sector cycle - down as of 8/8
COT data suggests a tradable bottom is not in yet for the metals.