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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.


US Dollar Index Monthly Chart

The mighty dollar had a major breakout after seven years of base building and a twenty year bear market, but many analysts continue to shun the greenback, which reminds me much of the early gold bull market in 2001 and 2002.

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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