GOLDBUGS AMEX Goldbugs Index (GOLD)

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Jack Chan: Gold Price Exclusive Update
By: Jack Chan | March 23, 2024



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

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 a pullback/consolidation is imminent.



Current data supports an overall higher dollar.



Our ratio is on a new buy signal.



Trend is UP for USD.



Trend is DOWN for gold stocks.



Trend is UP for gold.



A similar candlestick suggests a pullback/consolidation is imminent.



A new high in gold and a lower high in gold stocks results in a divergence.



What is more alarming is that gold prices have been rallying higher since 2022 while gold stocks are struggling with lower highs.

Summary

Gold sector cycle is up.

Trend is up for USD and down gold stocks.

$$$ We are partially invested for the current up cycle.

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