• 5 hours Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 3 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 3 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 5 days Why 12 Million American Millionaires Isn’t Good News
  • 6 days Big Oil Is Paying The Price For Investing In Renewables
  • 7 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 8 days Did Amazon Just Democratize Prescription Drugs?
  • 9 days The Private Space Race Just Got Very Real
  • 11 days Short Sellers Are Willing Big In This Turbulent Market
  • 12 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 13 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 14 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 15 days Black Friday Could Be Retailers’ Only Hope
  • 16 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 17 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 19 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 20 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
  • 21 days Will The San Francisco Wealth Tax Spark An Exodus Of The Rich?
  • 22 days The Fin-Tech IPO Of The Century Just Got Crushed
  • 23 days UK Bookies Report Largest-Ever Political Bet Ahead Of Election Results
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

This Past Week in Gold

SPDR Gold Trust Shares Daily Chart
GLD – on sell signal.


iShares Silver Trust Daily Chart
SLV – on buy 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 Daily Chart
USD – on buy signal, which is not friendly to the metals.


Canadian Dollar Daily Chart

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.

Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle – is down.
Investors should consider accumulating gold stocks/ETFs at the next cycle bottom as a correction is in progress.

 

Back to homepage

Leave a comment

Leave a comment