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Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

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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 buy signal.


VanEck Gold Miners ETF Daily Chart
GDX - on buy signal.


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


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


Daily Gold Chart

Speculation according to COT data made another new high this week, and with the 2015 high exceeded, a new bull market in gold is now confirmed.

Summary
Long term - on a new major buy signal, ending the major sell signal from early 2012.
Short term - on buy signals.
Gold sector cycle - is up.
The metals are vulnerable to a multi week correction which is long overdue.
Caution is advised.

 

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