This past week in gold
GLD - on buy signal.
We are long from 91.50, and have moved stop to 91.50 to remove risk.
SLV - on buy signal.
Long from 179.50, stopped out at breakeven on Friday.
GDX - on buy signal.
No favorable set up yet.
XGD.TO - sell signal on Friday. No harm done as there was no favorable set up.
Since topping in March, both buy and sell signals have failed to establish a sustainable trend, indicating that the corrective process has not completed. We continue to stay cautious and disciplined, to wait for favorable set ups and manage risk.
The gold sector is in a bull market, therefore, sell signals are signals to exit and not signals to sell short. In a bull market, we wait for buy signals and setups to initiate or accumulate positions.
End of update