This Past Week In Precious Metals
Jack Chan | Nov 13, 2017 04:57AM ET
SPDR Gold Shares (NYSE:GLD) – on buy signal.
In a bull market, the 200ema often acts as support for pullbacks and corrections, where investors accumulate positions for the long term.
iShares Silver (NYSE:SLV) – on buy signal.
VanEck Vectors Gold Miners (NYSE:GDX) – on sell signal.
iShares S&P/TSX Global Gold (TO:XGD) – on sell signal.
Central Fund of Canada Ltd (NYSE:CEF) – on sell signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on sell signal.
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Speculative activity favors overall higher gold prices.
Speculative activity favors overall higher silver prices.
A pullback in the dollar is supportive to the metals.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is down.
COT data is supportive for overall higher metal prices.
We are holding long term positions.
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