This Past Week in Gold

By: Jack Chan | Sat, Jul 19, 2014
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SPDR Gold Trust Shares Daily Chart
GLD - sell signal this week.


iShares Silver Trust Daily Chart
SLV - sell signal this week.


Market Vectors Gold Miners Daily Chart
GDX - sell signal this week.


XGD.TO Daily Chart
XGD.TO - sell signal this week.


Central Fund of Canada Daily Chart
CEF - sell signal this week.


US Dollar Index Daily Chart
The dollar is tracing out an inverted head & shoulder bottoming pattern. A rallying dollar will not be friendly to the metals.


Summary
Long term - on major sell signal since Mar 2012.
Short term - on sell signals.
Gold sector cycle - up as of 6/20
COT data suggests a top is forming in metal prices.

 


 

Jack Chan

Author: Jack Chan

Jack Chan
www.simplyprofits.org

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.

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austrian-money-supply/