• 822 days Will The ECB Continue To Hike Rates?
  • 822 days Forbes: Aramco Remains Largest Company In The Middle East
  • 824 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,223 days Could Crypto Overtake Traditional Investment?
  • 1,228 days Americans Still Quitting Jobs At Record Pace
  • 1,230 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,233 days Is The Dollar Too Strong?
  • 1,233 days Big Tech Disappoints Investors on Earnings Calls
  • 1,234 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,236 days China Is Quietly Trying To Distance Itself From Russia
  • 1,236 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,240 days Crypto Investors Won Big In 2021
  • 1,241 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,241 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,244 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,244 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,247 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,248 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,248 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,250 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

This Past Week in Gold

SPDR Gold Trust Shares Daily Chart
GLD - buy signal failed, which is common during a down cycle.


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.


Gold Bugs Index Daily Chart
Support failed as the long term down trend continues.

HUI:GLD Weekly Chart

Since topping in 2011, gold sector has broken down from each and every consolidation which has taken place consistently in every calendar year. Until this long term trend is reversed, buyers beware.

Summary
Long term - on major sell signal since Mar 2012 when $HUI was at 550.
Short term - on sell signals.
Gold sector cycle - down as of 5/16.
Caution is advised.

 

Back to homepage

Leave a comment

Leave a comment