• 800 days Will The ECB Continue To Hike Rates?
  • 800 days Forbes: Aramco Remains Largest Company In The Middle East
  • 802 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,202 days Could Crypto Overtake Traditional Investment?
  • 1,207 days Americans Still Quitting Jobs At Record Pace
  • 1,209 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,212 days Is The Dollar Too Strong?
  • 1,212 days Big Tech Disappoints Investors on Earnings Calls
  • 1,213 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,215 days China Is Quietly Trying To Distance Itself From Russia
  • 1,215 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,219 days Crypto Investors Won Big In 2021
  • 1,219 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,220 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,222 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,223 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,226 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,227 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,227 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,229 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

This Past Week in Gold

SPDR Gold Trust Shares Daily Chart
GLD - new buy signal this week.


iShares Silver Trust Daily Chart
SLV - on sell signal.


Market Vectors Gold Miners Daily Chart
GDX - new buy signal this week.


XGD.TO Daily Chart
XGD.TO - new buy signal this week.


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


US Dollar Index Daily Chart

Since our major buy signal on USD in 2011, both gold and silver have declined substantially. And now, the dollar is testing upper resistance, and upon a successful breakout, could affect the metals for a very long time to come.

USD has been basing since 2008, the year which the dollar ended its twenty three year bear market which started in 1985.


Summary
Long term - on major sell signal since Mar 2012.
Short term - on mixed signals.
Gold sector cycle - down as of 8/8
COT data suggests a tradable bottom is not in yet for the metals.

 

Back to homepage

Leave a comment

Leave a comment