GLD â on sell signal.
SLV â on buy signal.
GDX â on buy signal.
XGD.TO â on buy signal.
CEF â on sell signal.
USD â on buy signal, which is not friendly to the metals.
The Canadian dollar is greatly influenced by commodity prices, especially sensitive to crude oil and metals. Since making a V bottom early this year, the loonie has been sideways consolidating for the past five months. Logically, we should see a bullish resolution.
Long term â on major buy signal.
Short term â on mixed signals.
Gold sector cycle â is down.
Investors should consider accumulating gold stocks/ETFs at the next cycle bottom as a correction is in progress.