This Past Week in Gold

By: Jack Chan | Sat, Nov 1, 2014
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SPDR Gold Trust Shares Daily Chart
GLD - buy signal failed.


iShares Silver Trust Daily Chart
SLV - on sell signal.


Market Vectors Gold Miners Daily Chart
GDX - buy signal failed which is common during a down cycle.


XGD.TO Daily Chart
XGD.TO - buy signal failed which is common during a down cycle.


Central Fund of Canada Daily Chart
CEF - buy signal failed.


HUI:GLD Weekly Chart

The $HUI:GLD ratio has been an excellent leading indicator for us during the bull market and again in the current bear market. Until this long term trend is reversed, risk belongs to buyers.


Summary
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
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.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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