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Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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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.


VanEck Vectors Gold Miners Daily Chart
GDX – on buy signal.


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


Central Fund of Canada Daily Chart
CEF – on sell signal.


US Dollar Index Monthly Chart

As long as the dollar continues to consolidate, pressure is off the metals. But a breakout  on the dollar can trigger a major sell off in the metals.

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 – is now down.
Investors should consider accumulating gold stocks/ETFs at the next cycle bottom.

 

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