Gold Price And Silver Price Updates

Technical Analyst & Editor
July 23, 2016

Gold sector cycle reached 100% and turned down last week.

Gold Sector

$HUI is on a new long-term buy signal, ending the sell signal from early 2012.

Long-term signals can last for months and years and are more suitable for the long-term investors.

$HUI is on a short-term buy signal.

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

Speculation remains at all time high but continues to pullback.

Summary

Gold sector is on a new major buy signal.

Cycle is now down.

Investors can cost average in at the next cycle bottom.

Silver Sector

Silver is now on a on a long term buy signal ending the sell signal since Dec 2011.

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

SLV – short-term is on buy signal.

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

Speculation remains at an all time high.

Summary

Silver is on a long-term buy signal.

Short-term is on buy signal.

However, silver is vulnerable to a multi-week correction which is long overdue.

Courtesy of www.simplyprofits.org

Jack Chan is the editor of Simply Profits, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.


In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.
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