SPDR Gold Trust (GLD)

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The Ord Oracle
By: Tim Ord | June 10, 2021

SPX Monitoring Purposes: Sold 6/1/21 SPX at 4202.04 gain 2.1%; Long 5/19/21 at 4115.68.

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Long-Term SPX Monitor Purposes: Sold long SPX on 1/15/21 at 3768.25= gain 10.80%; Long SPX on 10/26/20 at 3400.97.



The bottom window is the weekly Gold chart, along with its Fibonacci retracements, which were 61.8% from last March low. Compare that to the weekly XAU chart, which only retraced 38.2%, illustrating that Gold stocks are stronger than Gold; this shows the market is in a bull market. This relationship can be seen in the weekly XAU/Gold ratio, which has been steadily rising since December 2020 and has hit new three-year high and a bullish longer-term sign. Though XAU has traded sideways since last November, the weekly XAU/Gold ratio has hit new highs above last November. In bull markets, the XAU/GOLD ratio leads XAU. This suggests new highs are coming for the XAU.

Tim Ord,

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