The Past Week In Precious Metals- Consolidation Is Near
Jack Chan | Jun 25, 2017 05:03AM ET
GLD (NYSE:GLD) – on sell signal.
iShares Silver (NYSE:SLV)– on sell signal.
GDX (NYSE:GDX) – on sell signal.
XGD.TO – on sell signal.
Central Fund of Canada Ltd (NYSE:CEF) – on sell signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on buy signal.
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The trend in gold is up
The multi month consolidation is now near completion as prices bounced firmly off lower support.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is down.
A major consolidation is in progress but now near completion.
Holding long for long term gains.
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