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This Past Week In Gold: GLD On Buy Signal

Published 03/29/2015, 05:06 AM
Updated 07/09/2023, 06:31 AM

SPDR Gold Trust Daily Chart

SPDR Gold Trust (ARCA:GLD)– on buy signal.

iShares Silver Trust Daily Chart

iShares Silver Trust (ARCA:SLV)– on buy signal.

GDX Market Vectors Gold Miners Daily Chart

Market Vectors Gold Miners (ARCA:GDX)– on sell signal.

XGD.TO Daily Chart

iShares TSX Global Gold (TO:XGD) – on sell signal.

CEF Daily Chart

Central Fund of Canada Ltd (AMEX:CEF) – on buy signal.

HUI Daily Chart

Some analysts have declared the bear market over in gold stocks. That is premature according to simple trend analysis. Currently ARCA Gold BUGS is bouncing from support but until resistance is broken on the upside, the trend remains down and the bear market continues.

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.

Disclaimer: 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.



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