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Gold Remained Locked In Major Down Trend

Published 05/17/2015, 03:40 AM
Updated 07/09/2023, 06:31 AM

GLD SPDR Daily Chart

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

SLV Daily Chart

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

GDX Daily Chart

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

XGD.To Daily Chart

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

CEF Daily Chart

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

HUI Daily Chart

Gold stocks remained locked in a major down trend and until this trend is reversed, buyers beware.

Summary

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

Short term – on buy signals.

Gold sector cycle – down as of 5/16.

Caution is advised.

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.

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