SPDR Gold Shares (NYSE:GLD) – on sell signal.
iShares Silver (NYSE:SLV) – on sell signal.
VanEck Vectors Gold Miners (NYSE:GDX) – on sell signal.
iShares S&P/TSX Global Gold (TO:XGD) – on sell signal.
Central Fund of Canada Ltd (NYSE:CEF) – on sell signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on sell signal.
Speculation is in bull market values.
Open interests is now at levels of previous bottoms.
Speculation is now at levels of previous bottoms.
Summary
Long term – on major buy signal.
Short term – on sell signals.
Gold sector cycle is down as the multi month consolidation continues.
COT data is now supportive for a bottom in the metals.
We are holding long term positions.
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.