This past week in gold

Jack Chan
Posted Sep 26, 2016

GLD – on sell signal.

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SLV – on buy signal.

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GDX – on buy signal.

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XGD.TO – on buy signal.

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CEF – on sell signal.

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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.

Summary

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.

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Sep 24, 2016
Jack Chan
Archives
email: jack@simplyprofits.org
website: www.simplyprofits.org

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