Chinese stock market (H - Hongkong shares) - Ready to leave a more than 3-year sideways pattern on the upside

Chinese stocks are still lagging behind other major economies

 Source: Short Side of Long

 

#Gold indices rising sharply $HUI $XGD.TO $GLD

 

 

Gold shares had another good day yesterday.

The HUI Gold Bugs Index rose 8% to 194.33 and is approaching the 200-day moving average at 208.27. The S&P/TSX (Toronto) Global Gold Index ETF (symbol XGD) CAD 10.85 (+4.7%) is trading already at the 200-day moving. This index is up around 20% from year-end. The gold spot price is approaching (US$ 1,242 per ounce) is also approaching the 200-day moving average at US$ 1,256 per ounce.

I remind you that gold shares are rallying from a very depressed and oversold level, so strong advances as we witness right now are nothing

unusual.

2015 could  be turning year for precious metals. So the timing is everyting. Stay tuned.

MasterMetals: #Gold indices rising sharply $HUI $XGD.TO $GLD



The MasterMetals Blog

@MasterMetals

$XGD $HUI Here are the #Gold #Charts you need to see

Will we have to hit the long term bottom on the chart before we turn?  If so, we still have some ways to go.

Attached the daily charts of the ETF of the S&P/TSX Global Gold Index in Toronto (XGD) and the Gold Bugs Index (HUI) where you can see yesterday's intraday turnaround.

Also attached the long-term Point & Figure chart of the XGD. As can be seen the chart has been forming a bottom formation since 2013 between 9.50 and 13.00. The XGD long-term chart (4), going back on this chart till 2005, shows a very strong bottom at 9.50.