SPDR Gold Shares (NYSE:GLD) – on sell signal.
iShares Silver (NYSE:SLV) – on buy signal.
VanEck Vectors Gold Miners (NYSE:GDX) – on buy signal.
iShares S&P/TSX Global Gold (TO:XGD) – on buy signal.
Sprott Physical Gold and Silver Trust (NYSE:CEF) – on sell signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on buy signal.
Gold Speculation is in bull market values.
COT data on silver futures is favorable for overall higher prices.
ARCA Gold BUGS (HUI)
Our ratio between gold and gold stocks has been effective in identifying the price action in both bull and bear markets.
- since breaking down in 2011, the sector has been in a bear market with periods of consolidations before the trend resumed. Untrained eyes would jump at those consolidations as the beginning of a bull market.
- The trend reversed in early 2016 with a breakout, followed by an agonizingly long consolidation so far.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is up.
COT data is supportive for overall higher metal prices.
Conditions are now favorable for higher prices in coming weeks and months.
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.