
GLD - on sell signal.

SLV - on sell signal.

GDX - on sell signal.

XGD.TO - on sell signal.

CEF - on sell signal.

Our leading indicator remains on sell signal.
Summary
Long term - on major sell signal since Mar 2012.
Short term - on sell signals.
Gold sector cycle - down as of 3/21, ending the up cycle since 12/27.
COT data is not supportive for higher prices overall.








