This Past Week In Gold: GLD, SLV, GDX, XGD
Jack Chan | Mar 15, 2015 04:43AM 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.
Gold peaked shortly before the gold cycle in early Feb, and is now testing the Nov low.
Summary
Long term – on major sell signal since Mar 2012 when HUI was at 550.
Short term – on sell signals.
Gold sector cycle – down as of 2/07, ending the up cycle since November.
COT data suggests lower metal prices ahead.
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