gold weekly chart - gold bugs index

This is not the gold weekly chart,  however this chart is even better as it tracks the gold and metals index. This chart is the gold bugs index, and a chart that all gold investor need to watch in the coming weeks.

Alot of people are calling for a bottom in gold, although looking at this chart that is not only dangerous, but the weekly charts are best to determine these sort of calls, and so far gold does not look healthy. There might be some bigger calls out in the webosphere to buy gold here, but the charts, meaning MACD and stochastics (great indicators) are not giving us a nudge yet.  We would not be surprised to see lower prices in gold come, but this is a trade we are watching very carefully and keeping our  VIP ELITE GROUP members alert here

This was a very manipulated crash down in gold, and the smart money has performed this so they can get back at a nice healthy price.

gold weekly chart

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