This Past Week in Gold

By: Jack Chan | Sat, May 7, 2016
Print Email

SPDR Gold Trust Shares Daily Chart
GLD - on buy signal.


iShares Silver Trust Daily Chart
SLV - on buy signal.


VanEck Vectors Gold Miners ETF Daily Chart
GDX - on buy signal.


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


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


Gold Daily Chart

Speculation on gold made a new all time high this week, despite gold being more than $600 lower than the 2011 top. Gold could be making another major top here.

Summary
Long term - on a new major buy signal, ending the major sell signal from early 2012.
Short term - on buy signals.
Gold sector cycle - turned down this week.
Caution is advised as a multi week correction may have begun.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

Disclosure:
We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

We also provide coverage to the major indexes and oil sector.

Copyright © 2011-2017 Jack Chan

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com