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This Past Week in Gold

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


iShares Silver Trust Daily Chart
SLV - on sell signal.


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 - on sell signal.


US Dollar Daily Chart

Some folks have been watching the dollar rising sharply in disbelief during the past few weeks, which is not friendly to the metals. No surprise to us as we noted the double bottom is USD is 2011 as gold peaked at the same time.

Summary
Long term - on major sell signal since Mar 2012.
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.

 

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