SPDR Gold Shares (HK:2840) (NYSE:GLD) on sell signal.
iShares Silver (NYSE:SLV) on sell signal.
VanEck Vectors Gold Miners (NYSE:GDX) on buy signal.
iShares S&P/TSX Global Gold (TO:XGD).TO on sell signal.
Sprott Physical Gold and Silver Trust (NYSE:CEF) on sell signal.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ) on buy signal.
Our ratio between gold and gold stocks has broken out to a multi month high and is currently pulling back.
The big picture is supportive for a new bull leg.
Summary
Long term – on major buy signal.
Short term – on mixed signals.
Gold sector cycle is up.
COT data is supportive for overall higher metal prices.
Conditions are now favorable for higher prices in coming weeks and months.
We are holding long-term positions.
Disclosure
We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.
We also provide coverage to the major indexes and oil sector.