SPDR Gold Shares (NYSE:GLD) – on buy signal.
iShares Silver (NYSE:SLV) – on buy signal.
VanEck Vectors Gold Miners (NYSE:GDX) (NYSE:GDX) – on buy signal.
iShares S&P/TSX Global Gold (TO:XGD).TO – on buy signal.
Central Fund of Canada Ltd (NYSE:CEF) – on buy signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on buy signal.
Speculation is in bull market values.
Speculation recovered sharply from the lowest level in years.
The breakdown on USD is supportive for overall higher metal prices.
Summary
Long term – on major buy signal.
Short term – on buy signals.
Gold sector cycle is up, suggesting that the multi month correction is complete.
COT data is supportive for overall higher metal prices.
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.