"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 10 hours Millennials Are Waiting For A $30T Inheritance That Might Not Come
  • 11 hours Is This the Tipping Point for American Credit Card Debt?
  • 12 hours Tech Icon Predicts A Big Future For Ethereum
  • 13 hours Apple Doubles Down On Data Privacy
  • 14 hours Where To Look As The Treasury Bond Bull Run Loses Steam
  • 15 hours The Tech Giants Poised For A Breakout
  • 17 hours The U.S. Dollar Is Set To Continue Its Rally
  • 18 hours Bitcoin Plummets On Price Manipulation Investigation
  • 1 day The Multi-Billion-Dollar Business Of Influence Peddling
  • 1 day Goldman Backed ‘Stablecoin’ Hopes To Curb Crypto Volatility
  • 2 days Consumers Lost $1.6M To Crypto Fraud In Australia
  • 2 days Facebook May Soon Become A Paid Service
  • 2 days How Far Can Gold Prices Fall?
  • 2 days The Battle For Shkreli's $2 Million Wu-Tang Record
  • 2 days The Bitcoin Miner Eyeing A $1 Billion IPO
  • 2 days China’s Social Credit Score Blacklists Travelers For Bad Behavior
  • 2 days Micron Soars On $10-Billion Share Buyback
  • 3 days Nearly Half Of All Americans Are Struggling Financially
  • 3 days Could Crypto Solve The Middle East’s Currency Crisis?
  • 3 days The Biggest Hurdle For The Buffett-Bezos Healthcare Plan
PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s latest acquisition allows the…

The Tech Giants Poised For A Breakout

The Tech Giants Poised For A Breakout

Bullish sentiment seems to have…

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.

 

Back to homepage

Leave a comment

Leave a comment