"No warning can save people determined to grow suddently rich" - Lord Overstone

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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.

Daily Gold Chart

As noted in previous analysis, gold continues to make lower highs and this time is no different. Until this trend is reversed, gold is in a bear market and rallies to the 200ema should be sold.

Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on new sell signals.
Gold sector cycle - down as of 2/07, ending the up cycle since November.
A bear market rally has completed, short sellers should sell into any bounces.


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