• 8 mins Why Germany Is Going To War With Gold
  • 1 day Gold Is Still Cheap Compared To Stocks
  • 2 days Are Cryptocurrencies Funding Terrorism?
  • 2 days Promising Oil Companies To Watch In 2020
  • 3 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 3 days Tesla Stock Continues To Soar
  • 4 days What New Economic Data Reveals About Gold's Trajectory
  • 5 days The Lucrative New Tech Hijacking Your Privacy
  • 5 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 6 days Trade War Takes Its Toll On Shipping
  • 8 days Is $90 Oil Possible? An Interview With Jay Park
  • 9 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 9 days Is This The Most Important Energy Project Of 2020?
  • 10 days Startups Are Dying To Give You A Better Death
  • 10 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 11 days The Banking Bonanza Is Just Getting Started
  • 11 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 12 days Who Is The Most Dangerous Person On The Internet?
  • 12 days SoftBank Sees First Quarterly Loss In 14 Years
  • 14 days Prepare For An Oil Glut In 2020
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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 - 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

Since identifying the top a few weeks ago, we expected a new low in gold but did not expect a spike down. Spikes are seldom sustainable, therefore, a recovery rally should begin anytime.

Spot Gold Daily Chart 2

Current COT data is now near levels of previous bottoms, expect a recovery rally to begin anytime.

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 10/30.
Traders who are currently short should consider taking partial profits and short again at the completion of a recovery rally.

 

Back to homepage

Leave a comment

Leave a comment