GOLDBUGS AMEX Goldbugs Index (GOLD)

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Jack Chan: Gold Price Exclusive Update
By: Jack Chan | March 9, 2024



Our proprietary cycle indicator is now 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

Accumulate positions during an up cycle and hold for the long term.

Traders

Enter the market at cycle bottoms and exit at cycle tops for short term profits.



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 suggests overall higher gold prices.



Current data supports an overall higher dollar.



Our ratio is on a new buy signal.



Trend is DOWN for USD.



Trend is DOWN for gold stocks.



Trend is UP for gold.



The underperfomance reached the lowest point in 2015, and we are now testing that low.

Summary

Gold sector cycle is up.

Trend is up for gold and down gold stocks, and down for USD.

$$$ We closed out 2023 with a nice profit. This marks the 5th straight profitable year for us.

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