This Past Week In Gold

COT data suggests a top is in for the metals.

GLD – new buy signal this week.

SLV – on sell signal.

GDX – on sell signal.

XGD.TO – on sell signal.                                                                       

CEF – on sell signal.

The big picture remains: a multi month consolidation continues whipsawing both short term buyers and sellers.

Summary

Long term – on major sell signal since Mar 2012.

Short term – on mixed signals.

Gold sector cycle – down as of 8/8

COT data suggests a top is in for the metals.

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.