This Past Week in Gold

GLD – back to a sell signal this week.

Stopped out with a small profit.

SLV – also sell signal this week.

Stopped out at breakeven.

GDX – sell signal this week.

Stopped out with a small loss.

XGD.TO – remains on sell signal from previous week.

No position taken as there was no set up.

Summary

Since topping in March, both buy and sell signals have failed to establish a sustainable trend, indicating that the corrective process has not completed. We remain cautious and conservative.

Disclosure

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

The gold sector is in a bull market, therefore, sell signals are signals to exit and not signals to sell short. In a bull market, we wait for buy signals and set ups to initiate or accumulate positions.