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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.


Spot Gold Daily Chart

This chart clearly shows how speculators are positioned in both a bull and bear market.

Currently net long at 28k, should see a tradable bottom soon.

Market Vectors Gold Miners Daily Chart 2

Long term holders of gold and gold stocks may have capitulated this week with a huge gap down on heavy volume.

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.
A tradable bottom should be in progress soon.

 

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