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This Past Week in Gold

SPDR Gold Trust Shares Daily Chart
GLD - on buy signal.


iShares Silver Trust Daily Chart
SLV - on sell signal.


Market Vectors Gold Miners Daily Chart
GDX - on buy signal.


XGD.TO Daily Chart
XGD.TO - on sell signal.


Central Fund of Canada Daily Chart
CEF - on buy signal.


SPDR Gold Trust Shares Weekly Chart

According to this week's COT data, speculation in gold, silver, copper, and crude oil have all reached levels of previous tops, similar to May and Oct 2015. Therefore, unless this time is different, expect much lower prices in coming weeks in commodities.

Summary
Long term - on a new major buy signal, ending the major sell signal from early 2012.
Short term - on mixed signals.
Gold sector cycle - up.
Once a bull market is confirmed in the gold sector, I will begin buying/accumulating at cycle bottoms as we did beginning in 2001.

 

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