This Past Week In Precious Metals
Jack Chan | Jan 16, 2018 08:14AM ET
SPDR Gold Shares (NYSE:GLD) – on buy signal.
iShares Silver (NYSE:SLV) – on buy signal.
VanEck Vectors Gold Miners (NYSE:GDX) (NYSE:GDX) – on buy signal.
iShares S&P/TSX Global Gold (TO:XGD).TO – on buy signal.
Central Fund of Canada Ltd (NYSE:CEF) – on buy signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) – on buy signal.
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Speculation is in bull market values.
Speculation recovered sharply from the lowest level in years.
The breakdown on USD is supportive for overall higher metal prices.
Summary
Long term – on major buy signal.
Short term – on buy signals.
Gold sector cycle is up, suggesting that the multi month correction is complete.
COT data is supportive for overall higher metal prices.
We are holding long term positions.
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