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This Past Week In Precious Metals: HUI On Buy Signal

Published 08/12/2019, 08:58 AM
Updated 07/09/2023, 06:31 AM
XAG/USD
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DX
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SI
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HUI
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GDX
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GDXJ
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HUI Monthly Chart

The gold sector as represented by $HUI is on a long term buy signal.

Long term signals can last for months and are more suitable for investors.

HUI Daily Chart

The gold sector as represented by $HUI is on a short term buy signal.

Short term signals can last for weeks and are more suitable for traders.

Gold Daily Chart

COT data shows speculation is now at an all-time high.

Silver Daily Chart

COT data on Silver is also at levels of previous tops.

GLD Weekly Chart

Stay focused on the long term and stay the course.

USD Weekly Chart

The corrective bounce in the dollar is at or near completion.

HUI Weekly Chart

Stay focused on the long term and stay the course.

GDX Weekly Chart

GDX has resistance nearby.

GDXJ Weekly Chart

GDXJ is approaching resistance.

XGD.TO Weekly Chart

Our Canadian ETF is also approaching resistance.

Summary

  • Long term – on buy signal.
  • Short term – on buy signals.
  • Gold sector cycle is up.
  • COT data on gold and silver are now at levels of previous tops.

    Stay focused for the long term and stay the course.

    New money should wait for a correction.

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