This Past Week in Gold

By: Jack Chan | Sat, Mar 21, 2015
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SPDR Gold Trust Shares Daily Chart
GLD - new buy signal this week.


iShares Silver Trust Daily Chart
SLV - new buy signal this week.


Market Vectors Gold Miners Daily Chart
GDX - on sell signal.


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


Central Fund of Canada Daily Chart
CEF - new buy signal this week.


Gold Daily Chart

Speculation in gold has reached levels of previous bottoms typical of a bear market, should see a bounce in the near term.

Summary
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on mixed signals.
Gold sector cycle - down as of 2/07, ending the up cycle since November.
COT data favors a bounce.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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