{"id":18763,"date":"2021-08-02T07:30:00","date_gmt":"2021-08-02T11:30:00","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=18763"},"modified":"2021-08-02T07:30:00","modified_gmt":"2021-08-02T11:30:00","slug":"a-golden-buy-signal","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/a-golden-buy-signal\/","title":{"rendered":"A Golden Buy Signal"},"content":{"rendered":"

Gold is back in rally mode.<\/p>\n

Two weeks ago, the shiny yellow metal was trading for $1,830 per ounce. It closed at that exact same level on Thursday.<\/p>\n

So, why is it all of a sudden in rally mode?<\/p>\n

Because the gold stocks are outperforming the metal.<\/p>\n

It was also two weeks ago when we looked at the GDX\/GOLD ratio chart<\/a> – which compares the action in gold stocks to the action in gold. We noted that gold tends to do best when the gold stocks outperform the metal.<\/p>\n\n\n\n
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Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Two weeks ago, the ratio chart was falling… and gold stocks were underperforming the metal. But that changed on Thursday.<\/p>\n

Take a look at this updated chart…<\/p>\n

\"Chart\"<\/div>\n

This chart has broken above the dashed-red downtrend line – where it was making a series of lower lows and lower highs – which indicates a downtrend. It now has a higher low and a higher high in place – which should signal the start of a new uptrend.<\/p>\n

The last time this chart signaled a gold rally was back in March<\/a>. The price of gold rallied nearly $200 an ounce over the next two months. Something similar this time around would pop the price of gold above $2,000.<\/p>\n

Of course, it won’t be a straight shot higher. Gold will have plenty of pullbacks along the way.<\/p>\n

But, as long as the gold stocks are outperforming gold – meaning as long as this ratio chart is making higher highs and higher lows – then gold is in rally mode. And, it’ll be higher in the weeks and months ahead.<\/p>\n

Traders should use any weakness in the price of the metal as a chance to buy. We’ve started another multi-week rally phase for the price of gold.<\/p>\n

Best regards and good trading,<\/p>\n

\"signature\"<\/p>\n

Jeff Clark<\/p>\n

<\/p>\n

Reader Mailbag<\/h2>\n

Are you bullish on gold? If so, will you be using this recent weakness in price to buy more gold?<\/p>\n

Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com<\/a>.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The shiny metal is in a rally mode…<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-18763","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/18763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=18763"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/18763\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=18763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=18763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=18763"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=18763"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=18763"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=18763"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=18763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}