This Past Week In Gold

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GLD: on sell signal.

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SLV: on buy signal.

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GDX: on buy signal.

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XGD.TO – on buy signal.

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CEF: on sell signal.

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USD: on buy signal, which is not friendly to the metals.

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The Canadian dollar is greatly influenced by commodity prices, especially sensitive to crude oil and metals. Since making a V bottom early this year, the loonie has been sideways consolidating for the past five months. Logically, we should see a bullish resolution.

Summary
Long term, markets are on major buy signal. 
Short term, markets have mixed signals. 
Gold sector cycle is down.
Investors should consider accumulating gold stocks/ETFs at the next cycle bottom as a correction is in progress.

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Chee Hin Teh 7 years ago Member's comment

Thanks for sharing