Gold Buy Signal

At the September 30th close, weekly chart buy signals were triggered in the popular Gold ETF (symbol GLD) and in the Gold Mining ETFs (major gold mining stocks ETF symbol GDX and the junior gold mining stocks ETF symbol GDXJ).

While the S&P 500 Index ETF (symbol SPY) fell 3.02% last week, the Gold ETF (GLD) rose 1.08%. Against that backdrop, most gold and silver mining share prices soared!

The Major Gold Mining Shares ETF (symbol GDX) jumped 7.49% last week, and the Junior Gold Mining Shares ETF surged 9.07%.

Bottom Line: A major new bull market in gold, silver, and related precious metals shares has clearly begun. Gold and Silver mining shares could easily double over the next 12 months as the Federal Reserve pivots from its current hawkish monetary policies toward a more neutral-to-dovish posture in the face of increasingly disturbing (recessionary) economic data to be reported on the very near term horizon and over the weeks and months immediately ahead.

Gold ETF (symbol GLD) with Proprietary Weekly Chart Buy Signal

Major Gold Miners ETF (symbol GDX) with Weekly Chart Buy Signal

Junior Gold Miners ETF (symbol GDXJ) with Weekly Chart Buy Signal