This Past Week In Gold

Speculation in gold has reached levels of previous bottoms typical of a bear market, should see a bounce in the near term.

GLD – new buy signal this week.

SLV – new buy signal this week.

GDX – on sell signal.

XGD.TO – on sell signal.                                                                       

CEF – new buy signal this week.

Speculation in gold has reached levels of previous bottoms typical of a bear market, should see a bounce in the near term.

Summary

Long term – on major sell signal since Mar 2012 when $HUI was at 550.

Short term – on mixed signals.

Gold sector cycle – down as of 2/07, ending the up cycle since November.

COT data favors a bounce.

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.