GOLDBUGS AMEX Goldbugs Index (GOLD)

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Jack Chan: Gold Price Exclusive Update
By: Jack Chan | August 6, 2022



Our proprietary cycle indicator is UP.

To public readers of our updates, our cycle indicator is one of the most effective timing tool for traders and investors. It is not perfect, because periodically the market can be more volatile and can result in short term whipsaws. But overall, the cycle indicator provides us with a clear direction how we should be speculating.

Investors

During a major buy signal, investors can accumulate positions by cost averaging at cycle bottoms, ideally when prices are at or near the daily 200ema.

During a major sell signal, investors should be hedged or in cash.

Traders

Simply cost average in at cycle bottoms when prices are at or near the daily 200ema; and cost average out at cycle tops when prices are above the daily 50ema.



Gold sector is on long term SELL signal as the recent buy signal has failed.

The correction since 2020 drags on.



GLD is on short term buy signal.



GDX is on short term buy signal.



XGD.to is on short term buy signal.



GDXJ is on short term buy signal.

Analysis



Current data supports overall higher gold prices.



Our ratio is on a new BUY signal.



Trend is up for the dollar.



Trend is down for gold stocks.



Trend is down for gold also.

Downside target achieved.



The decade long cup with handle remains in progress.

Summary

Long term – on SELL signal.

Short term – on buy signals.

Gold sector cycle is UP.

$$$ We are now holding trading positions as no core positions should be held during a long term sell signal.

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