Weekly Precious Metals Update

Technical analyst Jack Chan charts the latest moves in the gold and silver markets, noting signs that gold stocks are near the end of their corrective consolidation.

Our proprietary cycle indicator is down.

The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term.

The gold sector is on a short-term sell signal. Short-term signals can last for days and weeks and are more suitable for traders.

Both speculation and OI are not anywhere near a major top.

The trend in gold is up.

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