Weekly Gold And Silver Update: The Correction Is Over

Our proprietary cycle indicator is now up.

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 buy signal. Short-term signals can last for days and weeks, and are more suitable for traders.

A breakout is confirmed this week, suggesting that the multimonth correction since last summer is now complete.

Speculative sentiment, according to current open interests, is supportive for overall higher prices.

Silver is on a long-term buy signal.

SLV is on a short-term buy signal, and short-term signals can last for days to weeks, more suitable for traders.

Speculative sentiment, according to open interests, is supportive for overall higher prices.

Summary
The precious metals sector is on major buy signal. The cycle is up. The multimonth correction is complete; looking for overall higher prices.