This Past Week in Gold

By: Jack Chan | Sat, Jun 25, 2016
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SPDR Gold Trust Shares Daily Chart
GLD - on buy signal.


iShares Silver Trust Daily Chart
SLV - on buy signal.


VanEck 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.


Daily Gold Chart

Speculation according to COT data made another new high this week, and with the 2015 high exceeded, a new bull market in gold is now confirmed.

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 - is up.
The metals are vulnerable to a multi week correction which is long overdue.
Caution is advised.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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