This Past Week In Gold

COT data suggests a major bottom is not in yet for the metals.

GLD – on buy signal.

SLV – on buy signal.

GDX – on buy signal.

XGD.TO – on buy signal.                                                                       

CEF – on buy signal.

USD finally broke out of the multi year consolidation and base building, and above the 200ema for the first time in over a decade. This is not supportive for the metals for a long time to come.

Summary

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

Short term – on buy signals.

Gold sector cycle – up as of 11/14.

COT data suggests a major bottom is not in yet 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.