This past week in gold
Posted Sep 26, 2016
GLD – on sell signal.
SLV – on buy signal.
GDX – on buy signal.
XGD.TO – on buy signal.
CEF – on sell signal.
USD - on buy signal, which is not friendly to the metals.
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.
Long term – on a major buy signal.
Short term – on 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.
Sep 24, 2016
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