This Past Week In Gold

Gold and precious metal equities are giving sell signals in all periods.

GLD – on sell signal.

SLV – on sell signal.

GDX – on sell signal.

XGD.TO – on sell signal.                             

CEF – on sell signal.

The weekly configuration has turned bearish for the first time in 11 years, and such a long term trend does not reverse until it has run its course. As a trend follower, I must respect that.

Summary

Long term – on major sell signal since Mar 2012.
Short term – on sell signals.
Gold sector cycle – down as of 9/13.

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.

We also provide coverage to the major indexes and oil sector.

End of update