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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.

 

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