This Past Week In Gold: Lower Prices Overall
Jack Chan | Feb 22, 2015 02:41AM ET
SPDR Gold Trust (ARCA:GLD) – on sell signal.
iShares Silver Trust (ARCA:SLV) – on sell signal.
Market Vectors Gold Miners (ARCA:GDX) – on sell signal.
iShares TSX Global Gold (TO:XGD) – on sell signal.
Central Fund of Canada Ltd (ARCA:CEF) – on sell signal.
Lower tops indicates resistance in a bear market, and until resistance is broken and support established, the big trend is down with lower prices overall.
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Summary
Long term – on major sell signal since Mar 2012 when ARCA Gold BUGS was at 550.
Short term – on sell signals.
Gold sector cycle – down as of 2/07, ending the up cycle since November.
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