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This Past Week in Gold

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


iShares Silver Trust Daily Chart
SLV - on buy signal.


Market Vectors Gold Miners 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.


Spot Gold Daily Chart

COT data reveals the sentiment of speculation in clear numbers.

Sentiment at bull market tops and bottoms is decisively different than sentiment at bear market tops and bottoms.

Summary
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on buy signals.
Gold sector cycle - up as of 11/14.
A bear market rally is in progress but upside should be limited.
COT data suggests lower metal prices overall going forward.

 

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