This Past Week in Gold

GLD – on buy signal.

We are long from 91.50, and have moved stop to 91.50 to remove risk.

SLV – on buy signal.

Long from 179.50, stopped out at breakeven on Friday.

GDX – on buy signal.

No favorable set up yet.

XGD.TO – sell signal on Friday. No harm done as there was no favorable 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 continue to stay cautious and disciplined, to wait for favorable set ups and manage risk.

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.