GLD (NYSE:GLD): on buy signal.
SLV (NYSE:SLV) on buy signal.
GDX (NYSE:GDX) on buy signal.
XGD (TO:XGD) on buy signal.
CEF (NYSE:CEF) on buy signal.
GDXJ (NYSE:GDXJ) on buy signal.
Speculative activity favors overall higher gold prices.
Speculative activity favors overall higher silver prices.
Back in July, we identified the “E” point of the consolidation, and a breakout occurred in early August. But prices moved sideways, until this week.
The breakout is confirmed, and next resistance is at the 280 level.
Summary
Long term on major buy signal.
Short term on buy signals.
Gold sector cycle is up.
COT data is supportive for overall higher metal prices.
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.